eToro is a great option for those interested in low-cost trading of stocks, CFDs, forex and cryptocurrencies via an outstanding mobile app. eToro offers free trading of stocks and ETFs, easy account opening and one of the best cryptocurrency selections in the industry. Its biggest attraction is copy trading, where you can follow other users’ trades and portfolios. EToro’s trading platforms are intuitive and easy to use, making them suitable for beginners.
Investors who want to diversify their portfolio or have a limited budget will be particularly pleased. What’s more, eToro is renowned for its low fees, among the lowest in the crypto-currency trading industry. In fact, traders will only pay a commission of 1 u total transaction amount.
EToro’s key features
The eToro trading platform is robust and feature-rich, offering several unique products and services. Here is a list of eToro’s key features and products:
- Multiple Asset Types: On eToro, users can buy and sell six asset classes, including cryptos, stocks, indices, commodities, fiat currencies and ETFs.
- Cryptocurrency Staking: Stake Cardano, Tron or Ethereum on eToro to earn various returns depending on your membership level.
- Copy Trader: EToro users can automatically copy other investors’ successful trades. With Copy Trader, users can see the investor’s risk score, failure/success ratio and more transparently.
- Virtual Trading Platform: Practice trading multiple assets with play money with eToro’s demo account feature, which lets you trade up to $100K in virtual cash.
- 0% commission: There are no fees for investing in stocks or ETFs on eToro (crypto assets incur a 1% fee).
- Social Trading: The platform offers an integrated news feed where users can communicate with each other to discuss trades, insights and strategies.
- Free insurance: European, UK and Australian customers’ funds are covered up to 1 million EUR/AUD/GBP per person.
- Professional account: eToro offers a ‘professional client’ feature that is only available to experienced traders and financial professionals who have more than $500,000 in their eToro account.
Company history
Founded in 2007 in Tel Aviv by brothers Ronen Assia and Yoni Assia, along with a third founder, David Ring, eToro launched its visual FX trading platform in September of that year. In 2010, it launched its innovative social trading feature, which enables users to automatically copy the trades of successful traders onto the platform.
Expansion and diversified offerings
In 2013, eToro expanded into equity trading and, in addition to commodity and currency trading, extended access to European, Asian and Australian markets. In the same year, eToro began offering Bitcoin trading. In 2017, it expanded its digital asset offering to include XRP, Litecoin and a host of other cryptocurrencies.
Its US cryptocurrency platform was launched the following year, and in 2022, eToro introduced stock and ETF trading for US investors. Today, eToro seeks to establish itself in the highly competitive cryptocurrency trading market by continually improving its cryptocurrency trading services.
Cryptocurrencies available on eToro
eToro supports trading in 80 cryptocurrencies, including some of the most popular Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Dash (DASH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Polkadot (DOT), Polygon (MATIC), Solana (SOL) and Stellar Lumens (XLM).
EToro trading experience
Thanks to eToro’s simple web platform and well-designed mobile app, customers can deposit fiat money from a debit card or bank account to start trading. Social trading functionality allows users to copy the portfolios and trades of top traders.
EToro fees
EToro’s cryptocurrency trading fees are relatively low compared to competitors, but users should watch out for currency conversion and withdrawal fees. For cryptocurrency trading, a 1% fee is applied when buying or selling assets.
This 1st added to the bid-ask spread. eToro does not charge fees for sending or withdrawing cryptocurrencies to and from eToro. However, normal blockchain fees still apply. For cash withdrawals, there is a $5 fee and a $30 withdrawal minimum.
However, these withdrawal fees do not apply to Platinum, Platinum and Diamond Club members. Withdrawals and deposits are made in USD, and all non-USD transactions incur a conversion fee, which is the spot rate plus 50 basis points. eToro also charges an inactivity fee of $10 per month for accounts that have been inactive for more than one year.
Summary of eToro’s Features and Benefits
- Number of Cryptos: 90
- Fiat deposit fee: No fee on USD deposits. 0.5% on non-USD payments.
- Bitcoin purchase fee: 1% plus market spread
- Portfolio Owner? Yes
- Key features: Strict regulations; Proprietary web and mobile wallet; No deposit fees on USD payments, including debit/credit cards; Also supports stocks, ETFs and other assets.
- Pros: Best platform for beginners; Supports Bitcoin and 90 of the best altcoins; No-fee USD payments with debit/credit card or e-wallet; Minimum deposit of just $10; Regulated by FINRA, CySEC, ASIC and FCA; Smart wallets and copy trading tools; Native web and mobile wallet.
- Cons: Non-USD payments incur a 0.5% deposit fee.
