E Toro

E toro
Company information

etoro

Company name
E Toro
Website
etoro.com
Company Headquarters
Limassol, Cyprus
Account Minimum
USD 200

E Toro

Ratings :
4.5/5

eToro was founded in 2007 and has made a name for itself as a leading copy trading platform popular among beginners. It is a trusted broker regulated by many top tier authorities including, Financial Conduct Authority (FCA) and Australian Securities & Exchange Commission (ASIC).

eToro is a market- market broker with over 20 million users worldwide and offers over 2300 instruments for their clients including cryptocurrencies, forex and CFDs.

Currencies available on Crypto.com:

eToro offers majority of crypto currencies including the most popular ones such as

  • Bitcoin (BTC)
  • Cardano (ADA)
  • Ethereum (ETH)
  • Binance (BNB)
  • IOTA (MIOTA)
  •  

eToro is a market- market broker with over 20 million users worldwide and offers over 2300 instruments for their clients including cryptocurrencies, forex and CFDs.

Pros and Cons

Pros

  • eToro has a very easy to use and simple platform for beginners which can perform tasks quickly such as creating a watch list and adding instruments by searching available markets. It is listed best among easy to use categories.
  • It is also considered to be a trustworthy broker with regulations from FCA, AISC and others which include Cyprus Securities and Exchange Commissions (CySEC) and Markets in Financial Instruments Directive (MiFID).
  • With a minimum deposit required $50 they offer STP and negative balance protection for their clients along with the availability of demo account, standard account and Islamic account.
  • Overall, eToro has pricing close to the industry average for trading physical cryptocurrency, such as 0.75% for buying or selling bitcoin, while its fiat to crypto conversion fee is high at 5%. Meanwhile, converting from crypto to crypto at eToro only costs 0.1% in addition to prevailing spreads.

Cons

  • As easy as it is with social trading, a huge drawback is that while you make the same amount proportionally as the trader you’re copying, you also take the same percentage of losses the trader takes in their account.
  • According to statistics 67% of retail investor accounts lose money when trading CFDs with eToro.
  • Moreover, for trading forex and CFDs, eToro is slightly pricier than most of its competitors, despite recently cutting spreads and introducing zero-dollar commissions for US stock trading, retail traders don’t choose eToro for its spreads, but rather for its social copy-trading platform.
  • In addition to that, the range of traditional research materials and tools available on eToro is limited compared to its peers.
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