eToro Review

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eToro is a highly popular trading platform that caters to a wide array of trading needs, including stocks, CFDs, indices, cryptocurrencies, traditional currencies, and various other securities. With such a diverse offering, it’s no wonder that eToro has gained immense popularity among traders.

As a customer on eToro, you gain access to incredible opportunities that can enhance your trading experience and investment potential.

Beyond just a trading platform, eToro has evolved into both an investment network and a social platform, enabling users to connect, discuss, share experiences, and even copy each other’s successful trading strategies.

This article serves as a comprehensive review of the eToro trading platform, providing you with all the essential information you need to understand how eToro operates and what it offers.

What is eToro?

Founded in 2007, eToro has grown to become one of the largest trading platforms globally. Remarkably, many of the original founders still play active roles in the company, contributing to its ongoing success. Here’s a glimpse of the eToro management team:

• Yoni Assia – Chief Executive Officer and Founder
• Ronen Assia – Crime Product Officer and Co-Founder
• Shalom Berkovitz – CFO and Assistant Director
• Dr. Hedva Ber – Global Chief Operations Officer and Deputy Director
• Avi Sela – Chief Operating Officer
• Tuval Chomut – Solutions Director
• Nir Szmulewicz – Marketing Manager
• Jonathan Dayan – VP Trading
• Tal Ben-Simon – VP Product
• Israel Kalush – VP Engineering
• Etay Cohen – VP Customer Facing
• Doron Rosenblum – Deputy Director of Business Solutions
• Miri Kedem – VP Human Resources
• Debbie Kahal – General Counsel
• Elad Lavi – Vice President of Corporate Development
• Meron Shani – VP Finance
• Guy Hirsch – General Manager (US Region)
• Robert Francis – Managing Director (Australia Region)
• Lule Demmissie – USA’s CEO
• Kit Wong – Managing Director Asia and Managing Director Singapore
• Dan Moczulski – Managing Director UK
• Santo Politi – Board Member
• Avner Stepak – Board Member
• Eddy Shalev – Board Member
• J. Christopher Giancarlo – Senior Advisor
• Prof. Shmuel Hauser – Senior Advisor
• Michael Ptasznik – Board Member

This dedicated team collaborates to bolster a global investment community and enhance the user experience.

eToro’s Goals

Like most businesses, eToro has a clear objective. Their mission is to empower users to expand their knowledge and wealth as part of a global investor community.

Core Values of eToro

In addition to their mission, eToro is guided by a set of core values that shape their operations, product offerings, and user experience:

• Simplicity: eToro aims to eliminate barriers and ensure that everyone can access online trading. They strive to simplify processes and enhance transparency.
• Innovation: eToro is rooted in innovation, continuously developing new trading solutions to meet the evolving needs of their users.
• Quality: Committed to providing an excellent user experience, eToro prioritizes quality in all aspects of their service.
• Entertainment: Beyond trading, eToro fosters a social environment where knowledge sharing and community engagement enhance the overall experience.
• Transparency: eToro ensures that users have access to essential information, enabling informed investment decisions and fostering trust.

The History of eToro

eToro’s foundation is built on social collaboration and investor education. The platform was launched in 2007 with a vision to make trading accessible to everyone, independent of traditional financial institutions. Here’s a timeline of key milestones in eToro’s journey:

• January 2007: eToro was founded by three entrepreneurs aiming to revolutionize trading.
• September 2007: The first version of eToro was launched as a visual FX trading platform.
• May 2009: eToro launched WebTrader, catering to both beginners and experienced traders.
• July 2010: eToro became the world’s first social trading platform with the introduction of the CopyTrader™ feature.
• April 2012: The eToro mobile app was launched, enhancing accessibility for users.
• July 2013: Expanded services to include a wide range of shares, allowing for diversified portfolios.
• October 2015: eToro revamped its interface by combining WebTrader’s online and OpenBook’s social features.

• February 2016: Introduction of CopyPortfolios, enabling users to invest based on themes or strategies.
• February 2017: Expanded cryptocurrency offerings, including Ethereum, XRP, and Litecoin.
• March 2019: Initiatives to develop a US-focused crypto platform began.
• May 2019: Stocks with 0% commission were introduced.
• November 2021: Launch of eToro Money, incorporating a holistic investing approach.
• January 2022: eToro officially launched stock investing in the US, offering zero brokerage and a large selection of ETFs.

Investment Opportunities at eToro

eToro provides a wide array of investment opportunities, allowing users to explore various markets. You can easily find an overview of these opportunities by navigating to the “Trade” menu on the eToro website:

• Shares: 2974
• ETFs: 264
• Indices: 15
• Cryptocurrency: 76
• Raw Materials: 15
• Currencies: 49

Stocks

eToro allows you to invest in shares commission-free, providing access to a diverse range of markets, from technology to healthcare, across global exchanges.

ETFs

eToro offers flexible and comprehensive investment options through ETFs, allowing users to diversify their portfolios without management fees.

Indices

Investing in indices on eToro lets you take advantage of market trends, whether they are rising or falling, while managing your exposure flexibly.

Cryptocurrency

Buying cryptocurrency on eToro is incredibly straightforward, offering access to leading crypto assets and innovative trading tools. eToro Crypto is often hailed as “the ultimate crypto solution,” providing everything you need in one platform: trading, exchange, and a crypto wallet.

For more detailed insights into cryptocurrency trading, check out our comprehensive guide on Kryptovaluta – Hva er det? – Stor guide.

Additionally, eToro is regulated by a leading fintech authority, ensuring trust and reliability.

Raw Materials

eToro opens doors to the world’s largest commodity markets, enabling you to trade raw materials as CFDs with just a click, ensuring flexible gearing and deep liquidity.

Currencies

eToro allows you to invest in currencies in both long and short positions. The foreign exchange market, known as FX, is one of the largest and most active markets globally.

With eToro, you can trade major currency pairs and leverage positions up to 1:30 (or 1:400 for professionals), enhancing your exposure even with limited capital.

eToro Fee Structure

eToro is often perceived as an affordable trading platform due to its transparent fee structure. Here’s what you need to know:

Users enjoy commission-free trading for stocks and ETFs, meaning you can buy shares or ETFs without incurring additional fees. The only requirement is a minimum trade of 10 US dollars.

Here’s a breakdown of the key aspects of eToro’s fee structure:

• No management fees
• No brokerage fees
• No daily fees
• No hidden fees

When purchasing cryptocurrency on eToro, you pay the spread and a small fee of 1% for opening or closing a position.

CFDs

Trading CFDs incurs only the spread, which can vary depending on the product. For example, the spread for shares is fixed at 0.09%, while cryptocurrency CFDs incur a spread plus 1%.

Here’s a summary of the spreads for different products available on eToro:

• Shares and ETFs: 0.09%
• Indices: from 0.75%
• Cryptocurrency: Spread + 1%
• Currencies: from 1 pip
• Commodities: from 2 pips

CopyTrader

eToro’s innovative CopyTrader™ feature allows users to copy the trades of successful investors without incurring any additional fees, although standard spreads may apply.

CopyPortfolios

Investing in pre-built portfolios through eToro’s CopyPortfolios requires no administration fees and all share portfolios are commission-free. However, be aware that specific fees may apply to individual assets within each portfolio.

Other Fees

While eToro is generally affordable, it is important to be aware of other potential fees:

Deposit Fee

eToro does not charge deposit fees, making it easy for users to fund their accounts.

Withdrawal Fee

Withdrawals incur a fixed fee of $5, which helps cover the costs associated with international money transfers.

The minimum withdrawal amount is $30, meaning you will receive $25 after the fee is deducted.

Exchange Fee

All deposits and withdrawals on eToro are conducted in USD, necessitating currency exchanges for other currencies, which may incur exchange fees ranging from 0 to 150 pips.

Inactivity Fee

If you do not log into your account for 12 months, eToro will charge an inactivity fee of $10 per month. This fee will not cause the closure of any open positions.

eToro Payment Methods

eToro provides a diverse selection of payment methods, making it easier for users to find a suitable option. It’s important to note that transaction times and availability may vary based on your location. Below is a summary of available payment methods at eToro:

Credit/Debit Card

eToro accepts payments via credit/debit cards, allowing for instant transactions. Users can deposit in USD, GBP, EUR, or AUD, but should be mindful of potential exchange fees. The maximum deposit limit is $40,000.

PayPal

PayPal is another option, providing an extra layer of security as you do not need to share your card information directly with eToro. The deposit limit is $10,000.

Neteller

If you prefer using Neteller, you can do so as it offers the same benefits as PayPal. The maximum deposit limit is $10,000.

Skrill

Skrill is another convenient e-wallet option available for users, with a deposit limit of $10,000 and instant transactions.

Rapid Transfer

Rapid Transfer is available for EEA countries, including the UK, with a deposit limit of $5,500. Transactions occur automatically in USD, GBP, or EUR.

Klarna/Sofort Banking

This payment method allows you to receive an invoice for payment later, with an immediate transaction. The deposit limit is $30,000, but it is limited to select countries.

Bank Transfer

eToro supports bank transfers, which typically take 4 to 7 days for processing. There is no deposit limit, making it a flexible option for users.

Bank Transfer via Trustly

Trustly offers immediate transactions for selected EU countries, including the UK, with a deposit limit of $40,000.

POLi

A payment method available in Australia, POLi allows for instant transactions with a deposit limit of $70,000.

eToro Customer Service

Users may occasionally encounter issues or have questions about using eToro. Therefore, having accessible customer service is crucial. eToro provides a dedicated Help Center where users can find answers to common questions.

Help Center

The eToro Help Center is a valuable resource for users looking to troubleshoot issues independently. It categorizes information into various topics, including:

• My Account
• Verification
• Deposits and Withdrawals
• Copy Trading
• Community
• Training
• Troubleshooting
• Crypto Fees and Prices
• eToro Partners
• eToro Money Crypto Wallet

For straightforward inquiries, the Help Center is likely to provide the answers you seek.

Customer Support

If your question is not resolved in the Help Center, you can submit an inquiry to customer support. They allow users to track their inquiries and review past interactions.

eToro also offers a live chat feature for existing users, providing real-time assistance.

Is eToro Safe?

Many potential users often wonder, “Is eToro safe?” This is a valid concern, given the prevalence of online fraud. Rest assured, eToro is a secure trading platform that prioritizes user safety.

We will explore the advantages and disadvantages of using eToro in the next sections.

Advantages and Disadvantages

eToro offers a myriad of benefits, but like any platform, it has its downsides as well. Here’s a comprehensive overview:

Benefits

• Accessible to Everyone: eToro features a user-friendly interface that makes it easy for both beginners and experienced traders to navigate.
• Ease of Use: The platform’s design promotes smooth navigation, and the mobile app enhances accessibility.
• Wide Range of Tools: eToro provides various tools tailored to both novice and advanced users.
• Diverse Products: Users can trade stocks, ETFs, indices, cryptocurrencies, and more, all in one place.
• Adapted for UK Users: The platform supports multiple languages, including English, making it easier for UK users.
• Variety of Payment Methods: eToro offers a broad selection of payment options to accommodate different preferences.
• Favorable Fee Structure: With zero commission trading and transparency, eToro stands out in terms of affordability.

Disadvantages

• No English-speaking Customer Service: While the platform is available in English, customer support is not, which may pose challenges for some users.
• Long Response Times: eToro does not provide estimated response times for inquiries, potentially leading to delays in receiving assistance.
• Lack of NOK Support: eToro does not generally support Norwegian Krone (NOK), limiting options for some users.

Conclusion

eToro is among the largest and most reputable trading platforms, boasting over 20 million users globally. They were pioneers in offering stock trading with zero commissions, coupled with an array of tools and investment options. The platform effectively caters to both novices and seasoned traders.

While eToro has several advantages, there are areas for improvement, particularly in customer service. However, overall, eToro presents a safe and enriching platform for anyone interested in investing, making it a recommended choice for both education and enjoyment.