eToro review

Disclaimer

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider
whether you can afford to take the high risk of losing your money.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

Are you interested in investing in stocks, cryptocurrencies or commodities? Or maybe indexes? If you answered yes, you should definitely check out our eToro review! Finvesting has compiled a comprehensive article on the subject, which tells you what eToro is, where and how it is used, and how you can benefit from it.

eToro is a currency exchange platform that handles currency exchanges for a variety of reasons; such as for trade or tourism. According to a report published by the Bank for International Settlements, forex platforms trade more than $ 5.1 trillion every day. Similarly, a social forex trading platform is a social environment that encourages communication and facilitates interaction between active forex traders, beginners, and experienced traders.

Everyone is looking for the most suitable social forex trading platform to maintain interaction with others, monitor their value-creating activities and suggestions, and learn strategies to move forward in this modern marketplace.

We recommend the social trading and investment platform: eToro.

eToro is an important part of cryptocurrency trading, as well as the world of other services related to trading tools, financial technology and cryptography. It is considered a financially technological revolutionary platform that has maintained its leading position for more than a decade and has earned a reputation in the digital world as the main and guiding social trading platform.

Originally, eToro was a general trading platform until cryptocurrency and other trading tools arrived on the scene with fascinating strategies to compete against modern markets and growing demand. eToro is considered one of the innovators that combined social features with trading platforms in the form of CopyPortfolios and CopyTradinging.

Investing is now more interesting than ever, especially among young people. And that’s just a good thing! Finding the right investment platform can be difficult, so you should read this eToro experience carefully.

etoro review

eToro Trading

At eToro you will find the widest range of investments in the market, covering more than a thousand potential properties. The selections include traditional Finnish equities, index funds, ETFs, commodities, currencies, cryptocurrencies as well as the most significant foreign equities. Placement through eToro has been made easy, although the offer is very wide from side to side.

CFD trading on eToro

In eToro, most shares are traded with traditional shares, which are also familiar to Finns. You can start investing in shares through eToro, for example by investing in a Nokia or Neste share. Purchasing has been made easy and straightforward for Finns – the service’s user interface is well understood and all content is done in fluent Finnish. You will also find the global stock market in the service, which means that buying Teslan shares, for example, is very smooth. The offer of shares on the other side is also extensive, as there are almost 20 shares listed on various stock exchanges from Helsinki to Asia. You can invest in individual stocks, but there are also diversified stock indices and ETFs available, which we will talk about later in the article. However, eToro’s biggest benefit from investing in stocks is buying and selling shares for free.

Index funds on eToro 

A lot of trading is also done on eToro’s social trading platform, including index funds and related derivatives. You will find all the international funds that follow the price development of the indices on the marketplace. eToro thus enables risk diversification by investing indirectly in the prevailing stock markets. The subtlety of index funds probably lies in the fact that industry-specific risk is significantly reduced by investing in the market through the funds. It is noteworthy, however, that when investing in index funds, the possible exchange rate changes in one direction and the other are significantly smaller compared to the stock market. For a novice investor, however, this is a great way to start investing in a variety of stock markets, through index funds. Thus, eToro is also a pioneer in investing in index funds, there are no costs at all in both the buying and selling stages.

ETF funds on eToro 

The ETF investment in eToro has been made user-friendly, so even a novice can access these highly speculated funds. In practice, this investment object includes items selected from the world stock market in a decentralized manner. The benefits of ETFs include widely diversified risk, ie there is not much geological risk in this investment. The most popular ETF funds offered by eToro are as follows:

  • Vanguard S&P 500 ETF
  • Invesco QQQ Trust
  • Vanguard Small-Cap ETF
  • Vanguard Total Stock Market ETF
  • In addition to these, you will find more than 250 other ETF fund units on the eToro trading platform!

Commodities on eToro 

eToro’s social trading platform offers you the opportunity to invest in a wide variety of commodities. So you can trade by speculating on, for example, daily necessities; the price of sugar. Admittedly, sugar will by no means remain eToro’s only investment target for those interested in commodity trading. At the marketplace you will find almost 20 different commodities such as oil, grain, gold and silver! So you can take advantage of the prevailing fear in the stock market and invest in gold that is known to be secured by many investors as other markets fall. Trading in commodities means a price difference agreement. These therefore have no trading costs at all, but the spread, depending on the commodity, starts at two points. Through eToro, you can practically invest in everyday commodities without expenses.

Fiat currencies on eToro 

Are you interested in the price development of the dollar against the euro? eToro also offers the opportunity to trade here. Through forex trading, you can invest in a number of different currency pairs and even benefit from the interest rate policies made by the Fed regarding the value of the dollar. The platform of social trading also brings with it the possibility of CopyTrading, ie you can invest like a successful user in currency exchange in real time. However, it should be noted that when exchanging currency in the eToro service, you always trade in CFDs. So you will not directly own other currencies, but the investments are CFDs.

eToro Crypto

The current market is also shaken by rumors around cryptocurrencies. Will cryptocurrencies at some point be globally accepted as a means of payment at the state level? You can also get a potential return on this investment, among other investments. However, cryptocurrencies are a very volatile market, so please always familiarize yourself with the investment target before making a decision. With its own service, eToro has made it easier for ordinary people to invest in cryptocurrencies. Buying crypts on the eToron marketplace is as easy as buying Nokia and offers up to 100 different cryptocurrencies. Of these, you are sure to find a suitable crypto investment target after researching the topic. For crypto sales, a spread of 0.75 points is charged, depending on the cryptocurrency. It should be noted, however, that eToro does not have any actual buying or selling costs when making a cryptocurrency transaction. Thus, trading in crypts is as free as even in index funds.

Spread in practice means that the selling price is cheaper than the purchase price. In the meantime, eToro therefore charges a spread for the transaction made by the customer, which varies according to the investment target. In cryptos, spreads range from 0.75 to 5 percentage points.

 

eToro CopyTrading

eToro CopyTrading is a feature that allows investors to view the portfolios of other investors and make their own investment decisions based on them – you can, for example, copy the entire portfolio if you wish! The portfolios of the best-known investors have always been of interest, especially to novice investors, so leveraging the feature is very common. Every time an investor you copy makes changes to their portfolio, whether it’s a sale or a buying situation, the same changes automatically happen to your portfolio. Great, isn’t it ?!

eToro was one of the first trading platforms on the market to offer the CopyTrading feature. In Finnish, social trading has since grown tremendously in popularity and many other investment platforms have also included it in their selections.

With social investing, it is really convenient to follow different investment strategies, so you stay up to date on changes made by well-known investors.

eToro CopyPortfolio – copies entire investment portfolios

So CopyTrading is a way for you to copy specific, individual investments. But in addition to that, eToro also offers a so-called CopyPortfolio, which allows you to copy entire investment portfolios! You just select the investor you want that you think has an interesting portfolio and copy it completely for yourself!

Even in this case, however, you should remember that your copied portfolio is not under your control, but its power rests with the investor you are copying – only the investment amounts you use are at your discretion! CopyPortfolio is an interesting option that allows you to copy some of the world’s best-known investors. Where, for example, does Warren Buffet invest? This will help it survive, and you can also copy the items!

eToro Fees

On eToro, there are different rules of charging fees depending upon the situation and eToro services like; as an exchange, wallet, deposit, or withdrawal. Firstly on fee is charged for opening a position. For users who hold leveraged Ethereum or BTC positions or for shorting cryptocurrencies, fees are charged from them.

Here is Fiat to Crypto Conversion Fees

  • eToroX fee 1%
  • Simplex fee 4%

Here are limitations for different currencies to perform a transaction.

Currency Min Transaction Max Transaction Max/Day Max/Month
GBP £96 £7,350 £14,700 £36,750
EUR €112 €8,624 €17,248 €43,120
USD $125 $10,000 $20,000 $50,000

eToro is not charging any fee on deposit, it is only charged when the asset is withdrawn. Here is list of fees, charged on different cryptocurrencies.

Currency Quick withdraw limit Withdrawal fee
AUDX 50,000 3.75000
BCH 166 0.01000
BTC 10 0.00060
CADX 50,000 3.90000
CHFX 400 0.02500
DASH 278 0.01700
ETH 45,000 2.65000
EURX 40,000 2.30000
GBPX 5,50,000 330.00000
JPYX 555 0.03300
LTC 50,000 4.25000
NZDX 50,000 3.00000
USDEX    
XRP 166,667 8.50000
 

Verifications and Limits

Basic information is taken on opening a new eToro account. The process is quite simple and can be managed easily. For some verification, a government-issued ID card/passport, and even a utility bill is generally acquired. Normally, within two business days, an account is verified and allowed to avail eToro services.

Following documents are asked during verification on eToro :

  • Proof of Identity Document (Name, ID, passport)
  • Proof of Address Document (Address, utility bill, bank statement)
  • Proof of Identity and Selfie (Clear picture or selfie)

How to withdraw your asset from eToro to the local bank account?

After verification of eToro  account and 30$ there to withdraw then you can transact that amount in your bank account and then withdraw that. Any amount of 30$ or more available in your eToro account, you can withdraw this with very ease. It’ll take a maximum of 3 to 7 business days to process the transaction to send funds to your bank account.

etoro-invest

eToro Partner Programs

eToro is not only offering referral bonuses and typical introductory programs but also a variety of partner programs with unique features only available in Europe right now. Here are different partner programs:

  • eToro Broker Program

In the broker program, as a broker, you can avail of good payouts and premium customer services.

  • eToro Affiliate Program

In this program, on a one-to-one basis, affiliate partnerships are offered and as an affiliate, you can generate revenue by referring others.

  • Popular Investors

After becoming a popular investor on the eToro platform, you also generate revenue. If other investors learn from you and copy your strategies and investments, a 2% management fee will be added to your account for copying your investments. This all process is available on the eToro website from where you can learn how to become a popular investor and then how to copy others if you want to move forward in this trading world.

How strong eToro’s Fund Security is

To secure the platform, security teams recognize and prevent threats from any malicious third party, using the analytic behavior of machine learning and multi-signature. It is made sure that eToro’s wallets are well-secured from any threat as security teams are always active to provide you a better platform. So, you can deposit fiat money into your account without any doubt of security as it is always private, secured, and under strong operating procedures. Every transaction is communicated through SSL (Secure Socket Layer), which keeps your private information so safe.

eToro user experiences

eToro has more than 15 million users worldwide, so it is sure to accommodate both positive and negative user experiences. Often, different review sites run into pretty bad ratings, as due to the large number of users, often only negative experiences are shared with others – if all goes well, few will be able to direct their reviews. However, eToro has been found to be a well-functioning investment platform based on a number of different user experiences, so you can try it for yourself without any worries. Customer service is fast and efficient if you encounter problems with your account when using the platform. Finvesting recommends every investor at least try this well-known social trading platform! Remember to familiarize yourself with the risks and taxation of investing before you start trading.

Ease of Use: At the heart of the eToro user experience is the ability to quickly perform basic functions and tasks, such as creating watchlists and adding tools by searching for available markets, as well as trading directly from each watchlist. These design features helped make eToro the best in its class in the accessibility class for beginners in 2022.

Cryptocurrency Tools: eToro users can find new trading ideas, copy other individual crypto merchants, and copy merchant groups through 94 supported cryptocurrency pairs. For investors who want to keep underlying cryptographic assets, eToroX offers the eToro Mobile wallet app. This app acts as a custodian for your crypts using a multi-encryption model and is almost identical to the brand’s forex mobile app.

etoro-kryptovaluutat

Pros & Cons

PROS

  • Diverse trading market; having multiple unique options in trading
  • The secured and private platform, users’ privacy is maintained
  • Engaging and quite easy to operate user interface
  • A trustworthy, reputed, and transparent platform

CONS

  • Little bit high fees
  • Not supporting too many cryptocurrencies
  • eToro has no cryptocurrency depositing facility

Is eToro reliable?

When eToro was founded, it had only one goal: to serve investors on a much larger scale and with better services than any other platform. One of the cornerstones of this idea was and still is to create a safe as well as reliable trading platform. Even a small security breach or data leak can cause irreparable damage to the platform, and eToro is aware of this. That is why a lot has been invested in its security.

eToro operates under all general international investment laws and regulations. One illustrative example is that a platform cannot charge you a service fee that it cannot transparently justify. So it is an excellent thing for the user. The general perception, of course, is that excessive regulations will only make trading more difficult and slow down account opening, for example, but you should keep in mind that all security-related features are just for you!

One factor that increases credibility is definitely the simple functionality of the site. Even if a new, inexperienced investor joins the platform, it is very unlikely that he or she will accidentally or unknowingly make the wrong investments or purchases – the platform is so simple that everyone understands everything essential. Of course, the platform also uses two-step authentication with both a browser and an application!

 

Other services

eToro is one of the most versatile services on the market and there is something for everyone in its range. The easy-to-use platform is conducive to improving the user experience, and Finns can change the language of the site to Finnish with just a few clicks. When the entire site is in Finnish, you will never be unclear about what you are doing.

Investing with eToro is really easy and smooth – and affordable! It has one of the largest user communities in the world, and thanks to social trading, other investors are your support all the time. You get investment tips and insider information that you can’t get anywhere else! Many platforms are also known for their poor customer service, but eToro is a pioneer here as well. The FAQ section covers all the most pressing issues and even the service is available on social media channels!

List of investment targets

When you open an eToro account for yourself and head to the platform for the first time, a long list of different investments will appear on your screen first. This is called a watch list and its overriding purpose is to introduce the user to the best known items in each target group. In addition, you will of course see their prices as well as trading volumes.

The watch list is customizable to suit you. If you only want to see cryptocurrencies in it, you just delete everything else. To add SP500 shares, select them. So you can immediately see the exchange rate changes and daily sales and purchase volumes of your favorite properties on the front page, so you stay up to date all the time!

Investment portfolio

The investment portfolio has its roots in history. Back then, it was often a black, leather bag that carried your securities with you. Nowadays, your investment portfolio is in digital form online, which is undeniably quite a smoother way. With eToro’s investment portfolio, you can track your own investments in real time, anywhere, anytime. You can also monitor the portfolios of other investors and, if you wish, copy them!

Behind each investment you will find reports, statistics, analysis tools and other information to help you make trading decisions.

eToro news

The platform provides its own section for news, allowing you to follow the conversation around different rankings as well as items. The news can be found on the left side of the site and the filter allows you to select the topics that are most interesting to you.

Although the site is available in full in Finnish, eToro news should still be kept in English. Why? Because if you choose Finnish as your language, you will really lose many items as well as tips, as the majority of the news stream is only available in English. The international market is traded many times compared to Finland! You can also join the conversation yourself or settle for following the best tips next door.

eToro customer service

eToro customer support has garnered opinions over the years – many users find it decent, although there is room for improvement in some areas. The Help Center has a live chat feature that allows users to quickly access customer service. Merchants have reported that customer service representatives are busy and the service is not available on weekends, or it is really slow. There is no e-mail or telephone support, but all contacts are made using the form. You will receive answers to the inquiries made on the form by e-mail. Response time is fast – 24 hours or less. eToro customer service is not the best, but it is enough to cover the basics.

eToro mobile application

Like almost everything else, investment has shifted strongly to mobile, and eToro hasn’t missed its train ride. eToro has a really versatile and easy-to-use mobile application that allows you to monitor the status of your investments and, if necessary, trade during your business trip.

The eToro mobile app also offers you a cryptocurrency wallet, which is a separate feature on several other services. So one more competitive advantage!
Overall, eToro has done an excellent job with its mobile experience.

The best features of eToro in 2022

eToro is a modern and easy-to-use investment platform where you can find a wide range of different investment targets. Only a few of its competitors can offer as many options!

Examples of the best aspects of eToro are:

  • Beginner friendly. Starting stocks, funds, cryptocurrencies and other investments is easy with eToro.
  • Very easy to use. eToro is simple to use on any device!
  • Lots of extra features. eToro provides clear charts and prices, basic investment information, and comments and tips from other investors that make it easy to analyze different investment options.
  • Wide range of items. eToro has more than 1,000 different investments, making it one of the most comprehensive trading venues. CFDs, crypts, stocks, indices, mutual funds and much more!
  • CopyPortfolio. It allows you to copy other investors. You can see with your own eyes where the world’s most famous investors are putting their money!
  • Stocks free of charge. When you trade stocks, you get them completely without brokerage fees!
 

eToro Review Conclusion

eToro is ideal for social trading and cryptocurrency trading, and we recommend it for both beginners and advanced traders. eToro supports multiple cryptocurrencies, making it a convenient platform for those looking to trade and invest in cryptocurrencies. Additional features such as graphic presentation and CopyPortfolios provide an additional edge to global trading.

As an early pioneer in the social copying business, eToro was founded in Israel in 2007 as a developer of financial trading technology. Since the launch of its first product, it has since grown to serve more than 15 million users on an innovative platform that is constantly evolving into one of the largest social networks worldwide and has customers in more than 170 countries.

eToro offers its users very high quality customer service and it is possible to contact us via Facebook, Twitter and also Telegram. Every issue is resolved quickly. For beginners, there are several written guides and articles produced by eToro, and there are a variety of definitions to help you use the platform.

Because the platform is easy to use and both quite affordable compared to many of its competitors, it is recommended for beginners. However, eToro is not a permanent destination if you want to trade in lesser-known cryptocurrencies, as eToro only supports the most well-known cryptocurrencies in crypto and Fiat stores. On the platform, funds are also always in dollars, as the euro is not directly subsidized. Thus, there are small additional costs for the user to change the currency and the value of the portfolio fluctuates according to the dollar exchange rate every day.

Did you like our eToro review? Still have some questions? Drop us a message here and we will do our best to assist!

FAQs

Is eToro regulated?

Yes, eToro is regulated by Cyprus Securities and Exchange Commission (CySEC), the UK (FCA), FinCEN of USA, and the Australian (ASIC).

Is eToro safe?

As the company is fully regulated in its all-operating countries. Moreover, being a transparent and secured platform, it is a safe revenue-generating platform.

Should I try eToro?

We really do think so! It offers  so much for users and everyone can get benefits from it. You should at least try it!

How can I deposit in the eToro account?

eToro accepts credit/debit cards, PayPal, wire transfers, Webmoney, Yandex, Rapid Transfer, China UnionPay, and Yandex.

Can I buy stocks without fees?

Yes you can! Purchase and sale transactions of all shares and funds are completely free at eToro!

Is eToro available in Finland?

Yes it is, you can use eToro in Finland!