Real Reviews on eToro
If you want to open an account with eToro, the popular Forex and CFD trading platform, and browse the internet to find opinions from real users, you have come to the right place. What do we mean by 'real users'? Well, what other platform comparison sites do is give you their own opinion. But this is not 100% reliable. It just doesn't sound good.
We have searched for the most representative positive and negative opinions to describe the experience on this platform. How did we do it? We checked out the site trustpilot.com, the largest global website collecting information from services. Real users of every good or service on which an opinion can be given leave their comments on them at Trust Pilot. This article collects good and bad thoughts representing the “heard on the street” comments regarding the Broker. We include the reviewer's name so that, if you are in doubt, you can look it up on trustpilot.com.
eToro's 5 Star Reviews (Excellent)
Joseph Calvill: “Etoro is great it help me bet on ethereum price action back in 2017. Bank transfer was smooth, both too and from etoros account. Will use again when I see an opportunity in the market.”
Paul Jones: “Been with eturo for a month now and so far no issues. A lot of the bad reviews seem to be about withdrawing funds etc- in the world we live in now we have to prove where we get our money (source of funds) so expect questions and supply the documentation and it is fine. Not had any issues since being verified. The site gives you the opportunity to learn on the cheap about trading ( just stay in control and don’t chase- yes I know not easy to do). Copying other investors is a really good idea - you have the chance to make some good gains and also have an insight into how they trade. Eturo want you to succeed that way you keep trading and they keep making money. All in all I like the business model.”
Royce Triston: “One of the easiest way to jump in trade currency, stocks etc. Good customer support as well.”
Arie Dia: “The platform is really user friendly. I am quite happy with my overall experience with Etoro. I don't have issue with withdrawing my money after I completed the verification, it took 2-3 business days for my money to be in my bank account. One thing that bothers me a bit is the graph on the stats page. Sometimes it took a bit while to get updated. In a nutshell, I recommend this platform. Trade responsibly!”
And finally, we mention Matthew Gregory’s opinion, who rated eToro with 5 stars, and left the most detailed opinion we could found. Matthew posted: “I've been using eToro (UK) for nearly 12 months now with no issues. Looking at many of the negative reviews here I would bet they nearly always involve people trading volatile assets, like crypto, using leverage. Reading the social posts on eToro you can quickly see that people don't understand leverage, or are simply bitter from a big loss which was probably tantamount to gambling in the first instance. In my view, established brokers like HL and IG could learn a lot from eToro's approach to fees and UI. I am using HL and IF less and less due to the fees involved. To quickly summarise:
No trading issues whatsoever (I don't use any leverage)
Interface is fantastic and very intuitive
Social features are fun (if you can stomach the bragging of amateur hour investors!)
Tested the withdrawal feature which credited my PayPal account within 24 hours.
No fees, although spreads can be quite wide for some assets.
eToro UK is FCA regulated and covered by the FSCS
Two-factor auth security (which brokers like HL and IG lack)
Not as many listed assets as other established brokers like HL or IG, but eToro are adding more all the time
Can be tricky to identify dividend payments without going into the reporting features in detail.
It is apparent that this site attracts gamblers. eToro may want to look at their education practises and account restrictions (in the same way gambling sites do). Again, from reading the social posts it's obvious some people are there for the 'buzz' because they use words like 'adrenaline' and 'pumped' when talking about their investments. This is simply people replacing their favourite horse with Tesla stock. In my view investing should, for the most part, be emotionless.
I was sceptical going in, but I'm enjoying everything about eToro so far. With a little work on building trust with more 'professional' investors, they could really challenge the likes of HL in the next few years. HL need to up their game.”
eToro's 3 Star Reviews (Average)
Now we dive into the not so good opinions. Real users say about eToro:
Petko Dimitrov: “These people .... Want so many documents, my mom has been runing, to get them and upload in decent time, only to get rejected, because these incompetent people dont know how to read a document and compare letter from a paper to letter on their screen... Absolute bullsssh . Now she will loose transaction fees and stray away from trading .... Thanks etoro ..., Absolutely disgusting experience”
Flora McDonald: “I've started using etoro recently because it's easier to trade than my halifax account which charges £12 to open or close a trade. I also I'd pay 15% tax if buying US etc. Etoro is fun and user friendly but there are some strange happenings . Sudden glitches or unable to trade at times etc. I think it's a good beginners platform to learn and gain experience.”
eToro's 1 Star Reviews (Bad)
Joo Vähem: “Fees are crazy, when u deposit funds and cant verify ID your funds will be locked in etoro crappy website. UPDATE!!! I've been trying to talk with customer support dude waiting time is up to 7 days for him to response.. Then i have another question or need to answer smth.. Another 7days.. And so on. I'm 21 and I guess I will be 27 when I get my money refunded.”
Marco Silva: “What can I say other than I wholeheartedly agree with the increasingly growing 1 star reviews? Shocking service - too slow & does not address your issues. Platform freezes & outages are common seemingly when you're trading into profit & spreads make it way too marginal to make quick trades when the market is volatile, ie: you cannot trade in & out quickly as you'll have to wait for the stock to move 2% (!) before the trade becomes profitable. I was a Platinum member ($30K +) & was planning to grow to $100K but I have now liquidated my account after only 2 months. I want a trading company which excels on customer service & has a platform which is accurate/ less glitchy.”
Hsiang Huang Pang: “I don’t get it, why the customer service so bad and un pro. I had wire transfer about 14,000 USD to Etoro on 08/10/2020, just take one mistake that wrote wrong reference number on memo, so I open a ticket about it, gave all the information, but the effectiveness so bad, every time they respond with useless canned messages, and after me offer new info, take them about 2 days or more to response again. Since then, my money still not entering my etoro account, and the customer center just keep asking same old info.”
The screenshot of the eToro CopyTrading platform features a dynamic user interface, equipped with multiple essential components for trading. The "Watchlist" window displays a list of the assets that you have selected to follow.
This platform offers a social trading app, allowing traders to connect, share insights, and even copy trades from successful traders within the community.
Social Trading App
This platform allows traders to engage in multi-asset trading, enabling them to trade various financial instruments, including stocks, ETFs, forex, and more.
This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.
+20 Years in Business
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
Lack of Educational Resources
This trading platform charges high trading fees, which can significantly eat into traders' profits. With high transaction costs, including commissions, spreads, or other fees, traders may need to achieve higher returns just to offset the expenses, making it more challenging to generate substantial profits from their trading activities.
High Trading Fees
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Poor Customer Support
PROS & CONS
eToro's App for trading and copying trades of experts. Allows users to follow experienced traders.
How to Open a Trading Account with eToro
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).
Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How to Deposit
Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:
Log in to your newly created account.
Click on "Deposit Funds".
Enter the amount and select the currency.
Finally, select your chosen deposit method. Don't worry, it's a secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.
Below we show you the available alternatives.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Crypto assets are highly volatile and unregulated. No consumer protection. Tax on profits may apply
eToro is a popular online trading platform founded in 2007. The platform's design makes investing and trading accessible to everyone, regardless of their experience level.
eToro is known for its innovative social trading features, which allow users to interact with other traders and copy their trades. In addition to social trading, eToro offers a wide range of assets to trade, including stocks, cryptocurrencies, commodities, and Forex.
What Makes eToro Stand Out? Its social trading features. With eToro's CopyTrader and CopyPortfolios, users can copy the trades of successful traders, which can be especially helpful for those new to trading. Additionally, an user-friendly interface and design make it easy for users to navigate the platform and access the necessary information.
Australian Securities & Investments Commission
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ASSETS & SERVICES
eToro's stock offering includes a diverse range of over 3,000 stocks from various global markets, such as:
New York Stock Exchange (NYSE): +1,200 Stocks
Nasdaq: +880 Stocks
London Stock Exchange (LSE): +285 Stocks
Hong Kong Stock Exchange (HKG): +135 Stocks
Frankfurt Stock Exchange (FWB): +117 Stocks
Euronext Paris (PAR): +100 Stocks
Australian Securities Exchange (ASX): +77 Stocks
Six Swiss Exchange (SIX): +50 Stocks
Nasdaq Stockholm (STO): +49 Stocks
Bolsa de Madrid (MAD): +42 Stocks
Borsa Italiana (MIL): +41 Stocks
Amsterdam Stock Exchange (AEX): +35 Stocks
Other Exchanges included are the Oslo Børs (OSL), Nasdaq Copenhagen (CSE), Nasdaq Helsinki (OMXH), Brussels Stocks Exchange (BSE), Euronext Lisbon (XLIS), Saudi Arabia's Tadawul (XSAU) and the Chicago Board of Options Exchange (CBOE).
eToro's platform allows investors to buy and sell stocks in real time, with zero-commission trading available for specific stocks. Additionally, eToro offers fractional share trading, which allows investors to buy and sell a portion of a stock rather than the entire share.
eToro offers over 300 ETFs from well-known asset managers like SPDR, Vanguard, iShares, Invesco, ARK, Global X, ProShares, iPath, VanEck Vectors, Direxion, Aberdeen, Schwab, First Trust, Xtrackers, among others.
Although eToro's cryptocurrency offering isn't one of the most extensive, with +90 cryptocurrencies available for trading, it does have a few features worth mentioning.
The eToro Money wallet is a secure digital crypto wallet (Installed separately from the eToro's trading app). One of the key features is its robust security measures, with several high-level security features to protect against unauthorised access, including DDoS protection and standardisation protocols. eToro's Money App uses advanced encryption technologies to protect user data and assets by storing most of its users' tokens in offline cold storage wallets, which are much less vulnerable to hacking and other security threats.
Through a platform called Delta, eToro allows you to easily explore NFTs, browsing through hundreds of thousands of NFTs & collections.
To use Delta NFT, you must connect your ETH wallet to Delta automatically or manually. You can track your wallets, those of your friends and even those of the most prominent NFT investors in the world. With integrated smart notifications, you will never miss out on the latest changes within the NFT space.
eToro offers a wide variety of indices for traders to invest in, ranging from regional indices like the US-based NASDAQ100 to country-specific indices like Hong Kong's HKG50. While some indices track companies' stock prices, others track bond yields or currency values. Nonetheless, they offer traders diverse options for investment and portfolio diversification.
Here is the list of eToro's 20 indices listed by market capitalisation, from largest to smallest, along with a brief description of each one:
S&P500: A market capitalisation-weighted index of the top 500 companies listed on US stock exchanges.
NASDAQ100: A market capitalisation-weighted index of the largest non-financial companies listed on the Nasdaq stock exchange.
EuroStoxx50: Tracks the performance of the 50 largest European companies, focusing on the eurozone.
Nikkei 225: Tracks the stock prices of the top 225 companies listed on the Tokyo Stock Exchange in Japan.
DJ30:Also known as the Dow Jones Industrial Average, this index tracks the stock prices of 30 large US-based companies across various industries.
GER40: A performance index of Germany's top 40 companies on the Frankfurt Stock Exchange.
UK100: Also known as FTSE100, a market capitalisation-weighted index of the 100 largest companies listed on the London Stock Exchange.
CAC40: A market capitalisation-weighted index of France's top 40 Euronext Paris stock exchange companies.
HKG50: A market capitalisation-weighted index of the top 50 companies trading on the Hong Kong Stock Exchange.
Russell 2000: An index that tracks the performance of 2,000 small-cap companies listed on US stock exchanges.
China50: A market capitalisation-weighted index of the top 50 companies listed on the Shanghai and Shenzhen stock exchanges.
AUS200: A market capitalisation-weighted index of the top 200 companies listed on the Australian Securities Exchange.
IBEX35: A market capitalisation-weighted index of the top 35 companies in Spain listed on the Madrid Stock Exchange.
VIX: Also known as the CBOE Volatility Index, this index tracks the implied volatility of S&P 500 index options.
MSCI Singapore: An index that tracks the performance of companies listed on the Singapore Stock Exchange.
NL25: A market capitalisation-weighted index of the top 25 companies listed on the Euronext Amsterdam stock exchange in the Netherlands.
10yUS: Tracks the yield of 10-year US Treasury bonds.
5yUS: Tracks the yield of 5-year US Treasury bonds.
US Dollar Index: Measures the value of the US dollar relative to a basket of foreign currencies.
2yUS: Tracks the yield of 2-year US Treasury bonds.
eToro offers +49 FX pairs. Following, there is a list of the available instruments, categorised per currency:
US Dollar (USD): AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDCNH, USDCZK, USDHKD, USDHUF, USDJPY, USDMXN, USDNOK, USDPLN, USDRON, USDRUB, USDSEK, USDSGD, USDTRY, USDZAR
Euro (EUR): EURAUD, EURCAD, EURCHF, EURGBP, EURHUF, EURJPY, EURNOK, EURNZD, EURPLN, EURSEK, EURUSD
British Pound (GBP): GBPAUD, EURGBP, GBPCAD, GBPCHF, GBPHUF, GBPJPY, GBPNZD, GBPUSD
Swiss Franc (CHF): AUDCHF, CADCHF, CHFHUF, CHFJPY, EURCHF, GBPCHF, NZDCHF, USDCHF
Japanese Yen (JPY): AUDJPY, CADJPY, CHFJPY, EURJPY, GBPJPY, NZDJPY, USDJPY, ZARJPY
Canadian Dollar (CAD): AUDCAD, CADCHF, CADJPY, EURCAD, GBPCAD, NZDCAD, USDCAD
New Zealand Dollar (NZD): NZDUSD, NZDCHF, NZDJPY, NZDCAD, AUDNZD, GBPNZD, EURNZD
Hong Kong Dollar (HKD): USDHKD
Singapore Dollar (SGD): USDSGD
Chinese Yuan (CNH): USDCNH
Mexican Peso (MXN): USDMXN
South African Rand (ZAR): USDZAR, ZARJPY
Norwegian Krone (NOK): EURNOK, NOKSEK, USDNOK
Swedish Krona (SEK): EURSEK, NOKSEK, USDSEK
Hungarian Forint (HUF): CHFHUF, EURHUF, GBPHUF, USDHUF
Polish Złoty (PLN): EURPLN, USDPLN
Czech Koruna (CZK): USDCZK
Russian Ruble (RUB): USDRUB
Romanian Leu (RON): USDRON
eToro allows investors to trade +26 commodities through their platform.
Energy Commodities: Crude Oil (WTI), Crude Oil (Brent), Natural Gas, Heating Oil, Gasoline, Oil Futures
Precious Metals: Gold, Silver, Platinum, Palladium
Industrial Metals: Copper, Nickel, Aluminum, Lead, Zinc
Agriculture Commodities: Corn, Soybeans, Wheat, Cocoa, Coffee, Cotton, Sugar
Livestock Commodities: Live Cattle, Lean Hogs
Other Commodities: CarbonEmissions
CopyTrading: eToro's Social Trading Features
Copytrading is a popular feature offered by eToro, one of the leading players worldwide. CopyTrading allows users to automatically copy the trades of other successful traders on the platform. This feature helps beginner traders to start investing in portfolios built by other users with more experience or knowledge.
At eToro's CopyTrading tab, you may browse and select from a range of traders based on their performance history, risk level, and other factors. Once you select a trader, you can allocate funds, automatically copying their current portfolio and future trading activity in real time. In other words, any time the copied trader opens or closes a trade, the same action is replicated in your account.
eToro also offers Smart Portfolios, which allows users to invest in a diversified portfolio based on a specific sector or theme. These portfolios include:
RenewableEnergy: This portfolio includes leading companies focused on solar energy, wind, waste, recycling, electrical infrastructure, battery charging, and clean transportation. It comprises businesses that supply electricity through clean energy plants and companies that develop and sell technologies for this industry.
CryptoPortfolio: This portfolio includes a diversified set of selected cryptocurrencies available on the platform based on their relevancy in the crypto market. The portfolio allocation is based on cryptoasset representation according to their market capitalisation.
DividendGrowth: This portfolio comprises solid, high dividend-yielding companies. The portfolio is divided across several sectors like utilities, oil & gas, pharmaceutical, and telecommunications.
InTheGame: This portfolio invests in stocks of leading global gaming industry companies, components, and technology providers.
DeFiPortfolio: This portfolio aggregates a select group of crypto assets that are part of the DeFi revolution, including Ethereum, which carries a greater weight in the portfolio.
DriverLess: This portfolio includes companies directly and indirectly involved in autonomous vehicle development, electric vehicles ("EVs"), and EV components and materials like sensor devices, navigation systems, batteries, and semiconductors.
MetaverseLife: This portfolio invests in companies integrating into the metaverse's virtual world and metaverse-related crypto assets.
CannabisCare: This portfolio invests in stocks of companies that grow medicinal cannabis or develop cannabis-based pharmaceuticals.
ChinaTech: This portfolio aggregates companies operating in the Chinese economy and belonging to the tech sector. The companies are either domiciled in China (with the totality or majority of their revenues out of the region) or global companies that derive most of their revenues from China.
These Smart Portfolios offered by eToro are not limited to the examples previously listed. Their offering is much more extensive, with diverse sectors and themes available for investment.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Crypto assets are highly volatile and unregulated. No consumer protection. Tax on profits may apply
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