eToro broker review (2022) Review
EToro offers about 2,300 investment products, including popular indices, ETFs, commodities and forex. This broker has been here for over 13 years and brings some of the best trading options. This broker allows its users to copy the trades of other experienced traders.
Social trading is one of the most prominent innovations, and eToro is a world-leading broker that allows this type of trading. As they say: ”The world of finance is rapidly evolving, and social trading has become a big part of it”.
According to what others trade, you can compare them according to their success, their profits or evaluate the level of risk of their strategy, and if you like any of them, you can copy their trades. Trading made simple.
Another way of trading done with eToro is through a Copy Portfolio. On a similar basis as social trading, where it doesn’t copy individual traders, but groups of the best traders.
And how can we trade with eToro?
They offer a WEB platform and mobile phone apps (android and IOS). Comfortable for these days trading.
The eToro web platform
What I found cool is that I could test, without risking anything. In other words, they offer a DEMO account without any fees and 100 000 USD to trade with (or play with if you like). Here you can test everything from copy traders to invest. With eToro, the Demo account is unlimited and also in the demo version you can use the CopyPortfolio.
So what does eToro actually offer? Twitter, it’s thousands of investment products in 3 groups.
- The first group is differential contracts or CFD contracts.
- The second group consists of classic stocks.
- The third group are cryptocurrencies.
The eToro platform does not distinguish between classic shares and CFD shares. So keep this in mind, when thinking of the method of your order processing.
Terms and conditions in different languages
Terms and conditions they have in all sorts of languages for you to download. You just click on the pdf of the language you need and download the terms and conditions.
Everything you need to know is downloadable from their website. Terms and conditions, Best Execution and Order Handling Policy, Complaint Handling Procedure, Key Information Documents (eToro Europe) etc.
eToro’s brokering services are provided by eToro (Europe) Ltd. (“eToro Europe”), a registered Cypriot Investment Firm (CIF).
All in one
On the eToro website, you`ll find a lot of educational materials. Clients have access to news and market analysis, webinars, podcasts, tutorials and training courses.
On the main page in the top panel, click education and a list of ways to educate will open.
How to register
The registration process works just like any other broker. You will have to fill in a few forms, provide copies of personal documents, such as an identity card or passport. Providing proof of identity is a condition of all regulated brokers. So don’t get discouraged by this.
Simple as that. Broker eToro charges the difference between the purchase and sale price as a fee.
Here are some examples of fees for a given market:
- No fees, when opening the account.
- No management or ticketing fees.
- Withdrawals $5.
- FX rates apply to non-USD deposits and withdrawals.
- Cryptocurrencies: From: 0.75%
- Commodities: 2 – 45 pip
- Forex: From 3 pip
- ETF: 0.09%
- Indices: From 75 pip
- Shares: From 0.09%
The broker’s website
After registering I found it quite difficult to get to the main page. Even though I logged out, I kept going to my account, not to the website. Other than that, the website design is clean, simple and straightforward.
Everything is grouped in the upper pane. Just by pointing at the upper pane titles, the list of options opens. You can choose from types of trading, top markets, ways of investing, as I have mentioned earlier, education list with news, video tutorials and trading school and of course all the information about eToro in one list called “company”.
Social network activity
You`ll find eToro on twitter, Facebook, Instagram, Youtube and Linkedin.
Everyday posts, funny but also educational and informative.
The same activity I found on Twitter and its other social network pages. It seems that they are very communicative, modern and helpful by giving us information, news, and jokes like this.
Final summary – advantages and disadvantages of eToro
Disadvantages of eToro:
- Slow processes. Whether it’s verification, withdrawals or communication with client support.
- Withdrawal fee 5$.
- High first-time deposit.
Advantages outvoted disadvantages though
- eToro is a user-friendly broker for beginners.
- No entry fee.
- Simple and clear platform.
- Unlimited demo account.
Pros / Cons