eToro review after my 5 years experience with the platform

Daniel Meyer, 18 min read
Last Updated: 11 April, 2024

etoro review ecoinomy

Hello, my dear crypto friends!

Daniel here, ready to share my experience with the eToro platform.

I recently realized that it has been 5 years since I first discovered and started using eToro.

And I thought it’s time to update my blog post and share with you how my adventure evolved during this period.

Because, who wants to read outdated stuff?

eToro for me is one of the easiest platforms to use that I have come across. Registration is quick and hassle-free and the interface is intuitive. Even if you have no previous trading experience, you’ll quickly get the hang of how to operate.

Overall, after 5 years of actively using eToro, I am happy with the platform. What I like the most is the ease of use, the chance to learn from the most successful traders that I can and automatically copy, and the constant interaction with other investors on the social network.

Naturally, there are always risks in trading and one should not invest more than they can afford to lose.

Main advantage of eToro

One of the biggest advantages of eToro is the social element. You can follow and copy the trades of other successful traders, which is a good way to learn, discover new strategies and even passively profit. I have personally taken advantage of this and have improved my results significantly.

In addition, eToro has a wide variety of instruments – stocks, cryptocurrencies, commodities, ETFs. Everyone can find something suitable for their style and risk profile. The costs and fees are competitive with the industry.

The platform is constantly being improved and enriched with new features. The mobile app is just as good as the desktop version. Customer support is responsive and always ready to help.

Main drawback

Let me share that eToro has some disadvantages of its own.

If your main focus is cryptocurrencies and you want full control over your coins, you’d probably be better off using a dedicated crypto exchange and storing your coins in your own wallet instead of on eToro’s platform. Although eToro offers cryptocurrency trading, it is more suited for speculative trading than for long-term holding and use of the coins.

Outside of these specific cases, however, I think eToro remains one of the best platforms for a wide range of investors.

In the following lines, I will tell you more about the platform and how it helped me develop as an investor.

If you are looking for an online trading platform, and particularly an eToro review, you have come to the right place. Having tested eToro in detail, I share with you my 5-year experience with the eToro platform.

What I liked about eToro

  • The ability to copy leading traders
  • Seamless transactions with bank accounts and cards
  • User-friendly interface

What I didn’t like about eToro

  • Not suitable for advanced traders who are using technical analysis
Winner
eToro-Icon
Hybrid

ecoinomy average rating:

9.5/10

Assets Traded Stocks, Indices, ETFs, Currencies, Commodities, Cryptoassets
Max Leverage Up to 30:1 (varies by asset)
Trading Fees Spread 1%
Regulations EU, USA, UK, Austalia, Middle East
Cryptocurrencies 79+ BTC-Coin-IconETH-Coin-IconMIOTA-IconBCH-IconRipple-IconDASH-IconADA-Coin-IconEOS-IconLTC-IconNEO-IconXLM-IconZEC-IconEthereum-Classic-IconBNB-Icon
Payment Methods PayPal, Visa, MasterCard, Skrill, Neteller, SEPA, WebMoney
Number of Users 30 Million+

9.7/10 - Safety

9.1/10 - Fees

9.6/10 - Ease of Use

9.3/10 - Customer Service


Start here

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.


Who is eToro suitable for?

Based on our extensive review, here is a summary of who we think the platform is best suited for:

  • Beginner investors – Easy account opening, copy trading, social community provide great learning environment.
  • Low volume traders – Spread-only pricing works for buy and hold investors and infrequent trading.
  • Crypto traders – Support for a wide range of digital assets under regulated brokerage.
  • International traders – Multiple language options and worldwide access.
  • Social traders – Engage with other investors and share insights.
  • Passive income seekers – Use copy trading to potentially generate hands-off income.

eToro can certainly function as an all-in-one investment platform, but is likely best suited for the above types of traders based on its strengths.

For advanced traders who employ complex strategies, require robust charting, or prefer commission-based pricing, other brokers may be a better fit. But eToro hits the mark for its target user base.

How I got started with eToro

When I signed up to eToro over 5 years ago, I was immediately impressed by the intuitive and easy to use interface. Even though I was a beginner at the time, I had no trouble finding my way around and starting to trade.

The platform offers a great demo account with which you can train and test different strategies risk-free before investing real funds. This is super useful for anyone like me then who is new to the world of trading.

The etoro platform I tested has all the necessary licenses to operate in the EU, the most important of which are the CySEC and FCA (for UK) regulators.

Most CFD trading brokers don’t allow you to buy physical cryptocurrency – instead you have to purchase a product called a CFD (contract for difference).

On the other hand, eToro allowed me to withdraw my purchased crypto positions to a wallet.

If you want to know how, I’ll explain a little later in the article.

eToro’s Trading Platform and Ease of Use – 9.6/10

eToro operates as a social trading platform that combines traditional brokerage services with copy trading and social networking features.

Some key things to know about eToro’s trading platform:

  • Web-based platform requires no downloads or installations
  • Available on desktop and mobile (iOS and Android apps)
  • Supports manual self-directed trading
  • Integrated social feed with copy trading abilities
  • Virtual portfolio tools available
  • Educational resources available including videos, guides, articles etc.

eToro essentially aims to combine social media with trading and investing. You can interact with other traders, share strategies, get advice, and even automatically copy their trades.

This social element helps set eToro apart from other online brokers. Whether you want to invest on your own or tap into the knowledge of other investors, eToro provides the tools to do both.

eToro Trading Assets

Cryptocurrencies (CFDs) 79
Stocks 3000+
ETF 250+
Index 16
Forex 49
Total trading symbols 3300+

Cryptocurrencies – 9.5/10

As an active crypto investor, I find eToro to be one of the best choices for crypto. The platform offers more than 76 cryptocurrencies to invest and trade online, with new ones being added regularly, including all the top coins and popular memecoins. New tokens are constantly being added, so I always have access to the most current projects.

What makes eToro perfect for beginner crypto investors, like I was, is the extremely low entry barrier of only $10 minimum investment. Even for coins like Bitcoin that are worth thousands, with $10 I can purchase a fraction (0.01 BTC for example). Thus, eToro opens the doors to the crypto markets even for investors with a minimal budget.

Trading is convenient – orders are executed instantly and purchased coins are immediately added to the portfolio. Withdrawal to a personal wallet is done in seconds. The platform itself also offers a convenient crypto wallet with a high degree of asset storage protection.

So if you’re looking for a variety of cryptocurrencies, a low entry barrier, lightning-fast transaction execution, and secure storage, eToro is a great choice. The platform makes crypto trading easy and accessible to everyone, regardless of experience level and wallet size. Personally, I am extremely satisfied and can recommend it to any crypto enthusiast with a clear conscience!

ETFs – 9.6/10

In recent years, ETFs (exchange-traded funds) have seen a surge in popularity among retail investors, and it’s no surprise why. They offer a convenient and uncomplicated way to invest in a diverse array of financial assets, including but not limited to, commodities, stocks, and even real estate.

ETF trading is preferable to trading mutual funds because they do not impose the same trading fees and expense ratios, while offering the ability to open and close positions several times a day, as is the case with stocks.

Our research on the crypto brokerages concluded that eToro offers ETFs. Popular ETFs offered by iShares, ETFs offered by Vanguard and over 250 others are available for CFD trading on the online platform.

All types of ETFs are available for investing, from the S&P 500 to dividend stocks, precious metals and more. The minimum size of an eToro ETF trade is only $10, regardless of its price. The broker does not charge commissions for trading ETF positions, which are therefore free.

Stock Trading with eToro – 9.8/10

In addition to cryptocurrencies, I actively trade stocks on eToro.

The platform offers a variety of about 3000 stocks from all over the world – from the US, Europe, Asia. All the big and popular companies are available – Apple, Amazon, Tesla, Microsoft, Google, Meta and hundreds more. As an investor, I love this giant selection – I can always find interesting stocks for my portfolio.

All of these stocks can be traded completely commission-free on eToro. Yes, some other fees may apply, but the trade itself is 0% commission. This is fantastic because it saves significant costs, especially for more active investors. Instead of paying several dollars in commission for each trade, with eToro I can invest that money directly into the stock.

The platform offered me very handy stock analysis and selection tools. I can filter by sector, for example technology, automotive, financial. This way, I can quickly find the leading companies in any industry that interests me. In addition, eToro shows which stocks are up or down the most for the day – perfect for investors looking for momentum opportunities or potential trades.

For an in-depth analysis of stock trading specifically on eToro, be sure to read our detailed eToro stock trading review, where we dive deeper into its features and benefits.

Forex Trading on eToro – 9.8/10

For forex traders, eToro provides access to over 140 currency pairs including majors, minors, and exotics.

Spreads are starting from just 1 pip for popular pairs like EUR/USD and USD/JPY. Higher volume traders can qualify for lower spread tiers.

eToro provides a user-friendly experience for trading forex. Spreads are competitive but advanced traders may want more charting capabilities. The copy trading features help newer forex traders tap into currency trading strategies.

eToro Trading Platform: Pros and Cons

Pros

  •  User-friendly platform: eToro’s intuitive interface makes it easy for users of all experience levels to navigate and trade.
  •  Social and copy trading: The innovative copy trading feature allows users to follow and replicate the strategies of successful traders.
  • Wide range of assets: eToro offers a diverse selection of tradable assets, including stock and etf trading, cryptocurrencies and more.
  • Strong regulatory framework: eToro is regulated by both the Cyprus Securities and Exchange Commission (CySEC) and the UK’s Financial Conduct Authority (FCA), ensuring a secure virtual trading environment.

Cons

  •  Inactivity Fees: charges a monthly fee for accounts that have been inactive for a certain period, potentially diminishing your investment if not actively trading.
  •  Banned in some countries: Due to regulatory restrictions, eToro is not available in certain countries, limiting access for users in those regions to its trading services and features.
  •  CFDs are risky: Trading Contracts for Difference (CFDs) on eToro carries a high level of risk due to leverage, which can result in the loss of your invested capital, making it unsuitable for all investors.

Mobile Trading Applications – 9.7/10

eToro also offers mobile apps for iOS and Android to give you on-the-go access to your account.

The eToro mobile app provides a similar experience to the web platform.

App overview: the eToro broker offers two mobile apps for trading: the eToro app and eToro Money for cryptocurrency and money transfers. Both apps are available on Google Play for Android and on Apple’s App Store for iOS devices.

Ease of use: Testing on Android, we found that the eToro mobile app retains the look and feel of the web version, including useful features such as dark and light mode themes and synchronised watchlists that help unify the platform experience across devices.

Charts: Like the rest of the mobile app, the charts are responsive and perfectly match the web platform experience, although there are only five indicators compared to 67 on the web. Drawing tools are missing from the app altogether and would be a welcome improvement to an otherwise well-designed and well-integrated mobile app.

Etoro Money App – 9.2/10

The eToro Money app complements the eToro investment platform by allowing users to easily manage their funds. Users can make instant deposits and eToro charges no fees. They can also make instant withdrawals back to their bank account, providing quick access to money.

Additional features include a personal account number, debit card accepted worldwide, and 0% forex fees on deposits. The app is free for all eToro users with no hidden fees.

To start using eToro Money, users can download the mobile app on iOS and Android devices. They simply log in with their existing eToro credentials. The app lets users transfer crypto from their eToro investment account to the eToro Money crypto wallet. However, transfer fees apply based on the size of the position.

While convenient for managing funds, the Money app has received low ratings from users on app stores. But overall, it provides an integrated banking experience for eToro traders to optimize depositing, withdrawing, and tracking capital.

Transfer of Cryptocurrencies to Wallet

The eToro platform allowed us to easily transfer cryptocurrencies to an external wallet through the use of the eToro Money mobile app, available for both iOS and Android devices. The app uses the same login credentials as your eToro trading account, so you can easily access your trades. Once logged in, we could simply navigate to the “Edit Trade” window of the corresponding trade on the eToro platform and find the option to transfer your crypto to your external wallet, providing a secure and easy way to manage your digital assets.

* Unlike other platforms, eToro only allows to transfer cryptocurrencies in one direction. Any crypto assets you transferred from your wallet to the eToro platform cannot be transferred back. * We must wait 60 days to be able to transfer funds from our account to your wallet. Processing of a transfer request by eToro can take up to five business days.

Fees and Commissions for Trading on eToro – 9.1/10

Understanding fees and commissions is an important part of choosing an online broker. Get to know their fee structure overview before you go ahead with eToro:

Spreads at eToro

eToro utilizes a well-established spread methodology, which is the difference between the buy and sell prices of an asset. When it comes to this, eToro stands out as a highly competitive option among other crypto trading platforms. On the eToro platform, the spread for trading all cryptocurrencies is fixed at a competitive 1%. This makes it an attractive option for traders looking to trade in the cryptocurrency market.

Trading Commissions

  • Stocks – No trading commissions, only the spread
  • ETFs – No trading commissions, only the spread
  • Cryptocurrencies – 1% markup on converting CFD to USD
  • Currencies – Built-in spread only
  • Indices – Built-in spread only
  • Commodities – Small spreads plus overnight/weekend rollover fees

Most trading on eToro only involves a spread markup rather than fixed commissions per trade. This helps keep costs low, especially for stock and ETF traders.

Non-Trading Fees

  • Withdrawals – $5 wire fee. $25 minimum for wire transfers.
  • Inactivity – $10 per month charged if no activity for 12 months
  • Conversion – Small fee for converting currencies

There are some miscellaneous eToro fees to be aware of for funding and withdrawing from your account. But overall eToro has transparent fees that are very reasonable compared to other online brokers.

Payment Methods on eToro – 9.9/10

eToro offers a variety of convenient deposit options, including popular e-wallets such as PayPalSkrillNeteller, and Webmoney. Keep in mind that in some cases, it may be required to make an initial deposit with a card before being able to use e-wallet options. Bank transfers are also an option, though they may take a week or more to process. In contrast, other deposit methods work instantly. Available deposit options include:

  • Visa or Mastercard
  • PayPal
  • Skrill
  • Neteller
  • Webmoney

The main advantage is the availability of PayPal for depositing and withdrawing funds. This distinguishes eToro from most brokers, who mostly do not offer this payment option.

VISA MasterCard maestro PayPalSkrill Neteller

EToro Minimum Deposit

The minimum trading amount at eToro is $10 USD and the minimum deposit is $50 USD if made via debit card or link to a bank account. The broker offers the possibility to invest in fractional shares, which means that it is possible to invest in a fraction of a share with any amount above USD 10.

Withdrawal from eToro: times and fees

Withdrawal times for eToro depend on the payment method with which you withdraw the amount. According to the official etoro.com website, the approximate time for each payment method is different.

For debit and credit cards, the wait is 10 days. The maximum wait is the same for bank transfers. Cashouts on e-wallets such as Paypal and Skrill take up to 2 days.

However, our experience shows that cashing out times on eToro are usually much shorter. Especially in the case of Visa, MasterCard and e-wallets.

The withdrawal fee at eToro is fixed and amounts to $5.

Social Trading Platform – what is it and can it be profitable?

One of the best things about eToro, which I have used extensively over the years, is the ability to follow and copy the trades of more experienced and successful traders.

The transparency is complete – I can see what positions they are opening and closing, what amounts they are operating with, what results they are achieving.

This way I was able to learn from the best, observe their strategies closely and even automatically copy their trades.

It is a good way for beginners to gain experience, and for the more experienced to diversify their portfolio.

Of course, copy trading also has risks that everyone should consider – such as choosing an unsuitable copy trader. But overall, the opportunity to learn from the most successful is invaluable.

With its social trading, eToro is like a real social network where traders freely communicate with each other, share analysis and ideas, comment on the markets, give advice and feedback, and learn from each other.

Especially for less experienced investors like me when I signed up, this is extremely valuable and allows us to gain knowledge and confidence much faster. It’s great to feel part of a big community united by a common goal.
The trading platform has over 30 million registered users, which puts it at the top of all exchanges and trading platforms.

Copy trading eToro: How does it work?

The successful traders on this platform publicly disclose their trading methods and cryptocurrency portfolio in advance, so that newcomer crypto traders can learn from them.

EToro’s Copy Trading service offers you the possibility to copy and trade stocks automatically based on the movements of other traders.

the ‘CopyTrader‘ function is available on the site, where you can see a list of traders and their annual profit history.

Select the investor you wish to copy and, with one click, you can automatically start mirroring their positions (with the possibility of setting a stop-loss level). This way you limit your potential losses.

The minimum amount to be copied per user is USD 200 and the maximum is USD 500,000. Up to 100 traders can be copied simultaneously. Users can access millions of trader portfolios, statistics and risk assessments even if they are not using CopyTrader.

Smart Portfolios

Smart Portfolios, previously CopyPortfolios, is an eToro feature offering a curated selection of crypto assets and traders for easy diversification. There are three types: Top Trader, Thematic Market, and Partner Portfolios. This allows for simpler, lower-risk crypto management by aligning with top traders’ strategies.

Demo Account

eToro offers its users with valuable opportunies to get started with a free virtual wallet of $100,000 to trade online. This eToro trading demo account allowed us to first test various strategies and become familiar with the trading platform without the risk of losing real money. And  we can also tap into eToro’s social aspect by reaching out to the community and engaging in conversations with top performers to gain insight and knowledge on different trading strategies. This demo account provides a great chance to learn, practice trading, and develop trading skills before start trading with real money.

eToro Club and Membership Tiers

eToro Club is popular investor program available to traders with a minimum balance of $5,000. on EToro’s platform. eToro club members have access to webinarssubscriptionsinvestment advice and more depending on their membership level.

I experienced eToro’s tiered Club membership program firsthand. When my account balance hit $5,000, I was automatically enrolled in Silver membership. I enjoyed having a dedicated account manager and receiving quarterly market analyst reports. As my balance grew, I unlocked more benefits like Diamond membership with a $250,000 balance, which gave me additional subscriptions and VIP access to eToro Diamond events. I found the membership perks easy to access within my account.

Is eToro good for beginners? 9.6/10

Yes, eToro is a great choice for beginners who are looking to get started with online trading. The platform is designed to be user-friendly and easy to navigate, with a balanced collection of useful tools and advanced trading features.

eToro’s web platform and mobile app are both intuitive and straightforward, making it easy for beginners to start trading.It is important to note, however, that trading is not easy for beginners, and that one should always conduct enough analysis before deciding to copy the trading strategies of other investors.

One should look beyond the absolute returns and consider factors such as the risk score, average number of trades made per week, average profit and loss, and holding time of a particular investor before copying their trades.

eToro provides a lot of useful data in the platform, such as the trader’s statistics, performance and risk, portfolio management service, etc. So, beginners have all the necessary information to make informed decisions.

eToro eligible countries 9.2/10

You may have heard that eToro is banned in a number of countries. The company does not allow investors from a long list of countries to open trading accounts.

Some of the countries that cannot even register on the eToro website include Canada, Hong Kong, Iceland, Portugal and Turkey.

List of countries in which eToro operates:

Australia, Andorra, Angola, Austria, Argentina, Azerbaijan, Bangladesh, Bahrain, Belize, Bolivia, Brazil, Bulgaria, Ecuador, Egypt, Estonia, Germany, Guadeloupe, Gibraltar, Denmark, Dominican Republic, Georgia, Eritrea, India, Ireland, Italy, Spain, Vietnam, Chile, Colombia, Czech Republic, Finland, France, Hungary, Kazakhstan, Kuwait, Mexico, Monaco, Netherlands, New Zealand, Norway, Oman, Poland, Romania, Russia, Saudi Arabia, Slovakia, Switzerland, Thailand.

EToro Customer Service 9.3/10

Let me say a few words about the customer service at eToro from what I experienced.

The team is multilingual and covers 21 languages.

Great!

Whenever I have contacted them, I have received a competent and professional response.

Maybe there was this one time, where it got messy… but I kept it together.

Overall they are responsive and try to solve cases as quickly as possible. As an active user, I am categorized in the higher club levels, which also gives me access to a personal account manager and priority support when needed.

Definitely a high level of service.

To help you understand at a glance what you should expect from eToro’s support, we’ve put together the following information you need to know.

Live chat is currently only available to members. The lowest level of eToro Club membership is Silver, which is reached if you have more than $5,000 of equity in your account.

Available customer support

You can contact eToro in the following ways:

  • email

eToro does not offer 24/7 availability, so bear this in mind before asking for help with a question that requires an immediate response.

Quality of eToro’s customer service

We determine the quality of a broker’s customer service based on the speed of response (e.g. if they respond within a few minutes, it’s considered fast, but if they make you wait a long time, it’s considered poor) and the relevance of the response (e.g. whether they understand what you’re asking; whether they give a clear answer to your question or an ambiguous answer that requires further clarification).

Response Time

  • Live chat wait times under 1 minute during business hours
  • Email and phone support response within 24 hours
  • Slowest support via ticket with 1-3 day wait

Security and Regulation – Is eToro Safe? – 9.7/10

When sending funds to any financial services company, you need to trust they will keep your money and data secure. Here are some key facts about eToro’s security and regulation:

  • eToro Securities LLC regulated by FINRA and SEC in the United States
  • eToro Europe regulated by CySEC in Cyprus
  • eToro UK regulated by the FCA in the United Kingdom
  • SSL encryption used for data transmission
  • Requires 2-factor authentication for account access
  • Negative balance protection
  • $1 million insurance against brokerage insolvency via Lloyd’s of London
  • ID verification required for enhanced account security

eToro holds various financial licenses and operates under established regulatory bodies. Your funds are segregated from company funds and insured up to $1 million in the event eToro becomes insolvent.

Standard security features like 2FA and SSL help keep your personal information safe. Overall, eToro has implemented robust security measures and protocols.

The Verdict: Who is Etoro Best Suited For?

Based on the compilation of user reviews from Trustpilot, Reddit, and Quora, eToro appears best suited for:

  1. Beginner to Intermediate Traders and Investors: eToro is frequently praised for its user-friendly interface, making it a good choice for those new to trading or investing. The platform’s educational resources and the ‘copy trading’ feature are particularly beneficial for beginners who are learning the ropes of trading and investing.
  2. Casual or Part-Timers: Users who engage in trading as a part-time activity or hobby find eToro’s straightforward design and ease of use appealing. The platform offers enough features for casual trading without overwhelming users with complex tools.
  3. Those Interested in Diverse Trading Options: eToro supports a variety of assets, including stocks, cryptocurrencies, and ETFs, which appeals to users looking to diversify their portfolios without needing multiple platforms.
  4. Users Valuing Community and Social Trading: eToro’s unique selling point is its social trading aspect, where users can follow and copy the trades of successful investors. This feature is highly valued by users who appreciate learning from others and enjoy a community-centric trading experience.

However, it may not be the best fit for:

  1. Advanced or Professionals: Users seeking advanced trading tools, lower fees, or more control over trade execution might find eToro lacking. The platform is often described as less suitable for advanced trading strategies or for users accustomed to professional-grade trading platforms.
  2. Traders Concerned with Fee Structures and Spreads: Some users find eToro’s fee structure and spreads to be higher compared to other platforms, which is a deterrent for cost-conscious seekers.

Overall, eToro is favored by those entering the trading world, looking for an easy-to-navigate platform with a strong community aspect, and interested in a multi-asset approach. However, more experienced traders seeking advanced features and lower costs might prefer other platforms.

eToro Review 2024: Is eToro Right for You? 9.5/10

In conclusion, from my 5 years of experience, I can say that eToro is one of the top platforms for trading and investing. I recommend it for both beginners and more experienced investors. The ease of use, social features and variety of tools make it a great choice. Of course, always research carefully and invest wisely. I hope my impressions have been helpful to you.

If you recognize yourself from any of these groups, then it might be a good idea to use eToro’s services.


Winner
eToro-Icon
Hybrid

ecoinomy average rating:

9.5/10

Assets Traded Stocks, Indices, ETFs, Currencies, Commodities, Cryptoassets
Max Leverage Up to 30:1 (varies by asset)
Trading Fees Spread 1%
Regulations EU, USA, UK, Austalia, Middle East
Cryptocurrencies 79+ BTC-Coin-IconETH-Coin-IconMIOTA-IconBCH-IconRipple-IconDASH-IconADA-Coin-IconEOS-IconLTC-IconNEO-IconXLM-IconZEC-IconEthereum-Classic-IconBNB-Icon
Payment Methods PayPal, Visa, MasterCard, Skrill, Neteller, SEPA, WebMoney
Number of Users 30 Million+

9.7/10 - Safety

9.1/10 - Fees

9.6/10 - Ease of Use

9.3/10 - Customer Service


Start here

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.


** eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

How to Open an eToro Account?

{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Don’t invest unless you’re prepared to lose all the money you invest.

Sign up for an eToro account by entering your name and e-mail address, choosing a password and clicking on Create Account. You will receive an e-mail with a link to confirm your registration. Once you have clicked on the link, you can register using the username and password provided to access your account on the online platform. It is recommended to confirm the account within 14 days. All documents required to fully confirm your account are:

  • Valid ID (passport, ID card, etc.)
  • Valid proof of address (bank statement, utility bills)

etoro create account screen shot

Verify your eToro account profile and get $10 in crypto

First, to remove the deposit limit, you will need to answer a few questions (this is standard procedure for all platforms and your personal information will be protected). Start by clicking on the ‘Complete Profile’ button and follow the procedure.

Deposit funds

The ‘Deposit Funds’ button will take you to a long list of payment methods available on the authorised platform. The bank transfer may take a few days, but the other methods work mostly instantly. Enter the amount you wish to deposit (the minimum is USD 50), then confirm the transaction value.

etoro recensioni - scelta dei metodi di pagamento

Buy Bitcoin CFD or other cryptocurrencies CFD

To buy Bitcoin – at the platform, go to “Trade Markets” and select the desired virtual currency, from the “Crypto” list. Then select BUY and enter the number of BTC units you wish to trade. Finally, you need to press the “Open Position” button.

przycisk kupowania bitcoinów przez PAyPal

After following the steps, you are now part of the blockchain revolution and can trade online. If you decide the time is right, you can close and reopen your trading position in the desired asset. On the online platform you can use a multiplier (leverage) of 2:1. So, for example, with a $600 position, you are effectively trading with $1,200. With this option, when the price increases, the potential profits are multiplied x2. But be very careful with this trading instrument, because when the price falls, your losses are multiplied by two.

Daniel Meyer

Daniel was specifically recruited by Ecoinomy for his high-level expertise in crypto trading platform analysis. With a solid background in blockchain technology and a track record of successful trading, he offers precise, insightful reviews. His approach combines technical knowledge with practical experience, providing valuable, clear guidance for serious investors. Daniel's work is an essential resource for understanding the nuances of various trading platforms, making him a key figure in Ecoinomy's commitment to top-tier cryptocurrency education.