Our Verdict

If you’re someone who values social interaction and ease of use in your trading experience, then eToro is an excellent choice for you. This platform stands out for its intuitive interface and vibrant community, making it particularly suitable for traders who appreciate simplicity. With eToro, you’ll have access to a diverse range of assets that you can effortlessly manage within a single portfolio.
If it happens that you’ve acquired lots of experiences with investing and you’re looking for a platform with more advanced tools, eToro offers features like advanced analysis charts, a built-in economic calendar, and convenient one-click trading capabilities. Whether you’re a novice or seasoned trader, eToro provides the tools and resources to support your trading journey effectively.
Pros
- It offers a unique social trading experience where users can interact, follow, and copy the trades of successful investors.
- It grants you access to trade a variety of assets including cryptocurrencies, stocks, ETFs, commodities, and more on a single platform.
- It provides an intuitive and easy-to-use platform suitable for beginners and experienced traders alike.
- It offers a mobile app that allows you to trade on the go, making it convenient for busy traders to manage their portfolios.
Cons
- It focuses on crypto-to-fiat trading pairs, limiting the selection of crypto-to-crypto pairs available for trading.
- It is not accessible in all states or countries, restricting access for potential users based on their location.
Who eToro Is Best For

Go for eToro if you:
- Are interested in social investing and the ability to mimic successful traders.
- Prefer trading cryptocurrencies, stocks, and ETFs on a single platform.
- Value advanced trading features and a user-friendly mobile app.
- Want to explore a unique social trading experience in the financial markets.
- Are looking for a platform with innovative social trading capabilities and a diverse range of assets to trade.
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Who eToro Isn’t Right For
Consider other trading platforms aside from eToro if you:
- Prefer a platform with a wider range of cryptocurrency trading pairs.
- Require access to specific cryptocurrencies not available on eToro.
- Value lower fees and commissions for trading activities.
- Need advanced technical analysis tools and charting capabilities.
- Seek a platform with a more extensive selection of investment products.
- Want to explore platforms with different social trading features or investment opportunities tailored to your preferences.
What eToro Offers

Wide Range of Assets
eToro boasts an impressive selection of over 5,000 financial instruments across various asset classes. Whether you’re interested in trading stocks, cryptocurrencies, ETFs, indices, currencies, or commodities, eToro provides a broad spectrum of options to diversify your investment portfolio. This extensive range ensures that traders can find and invest in opportunities that match their interests and risk tolerance.
Social Trading
One of eToro’s most unique features is social trading. This feature transforms trading into a community experience, allowing users to interact, discuss ideas, and share their trading decisions and strategies on a social news feed. It’s a great way to learn from others, gain new insights, and stay updated on market trends.
CopyTrader
For those who prefer a more hands-off approach, eToro’s CopyTrader feature is a game-changer. This tool allows users to replicate the trades of experienced investors in real time. By following successful traders, you can benefit from their expertise and potentially enhance your trading outcomes without needing to conduct extensive research yourself.
Smart Portfolios
eToro also offers Smart Portfolios, which are ready-made investment strategies centred around specific themes or trends. These include sectors like medical cannabis, driverless cars, and portfolios based on influential people. Smart Portfolios provide a convenient way to invest in emerging industries and diversify your holdings without needing to build and manage a portfolio from scratch.
Intuitive Platforms
eToro’s platforms are designed with user experience in mind. The web platform and mobile app are both easy to use, with intuitive interfaces that make it simple to navigate, execute trades, and monitor your investments. This ease of use is particularly beneficial for beginners who might find more complex trading platforms overwhelming.
Transparent Fees
Transparency is a key aspect of eToro’s fee structure. The platform prides itself on offering low and clear fees, ensuring that users are fully aware of any costs associated with their trades. This transparency helps traders to manage their expenses better and avoid unexpected charges.
Education
Education is a significant focus for eToro. The platform provides a wealth of educational resources, including webinars, tutorials, and articles, aimed at helping users improve their trading skills and knowledge. Whether you’re just starting or looking to refine your strategies, eToro’s educational materials can provide valuable insights.
Security
Security is a top priority for eToro. The platform employs best practices to safeguard client money and assets. This includes robust encryption, secure storage solutions, and strict regulatory compliance, providing peace of mind that your investments are well-protected.
Where eToro Stand Out

Social Trading Community
eToro’s social trading platform is unparalleled, allowing users to interact, share strategies, and learn from each other. This communal approach is particularly beneficial for beginners who can observe and emulate experienced traders.
CopyTrader Feature
The CopyTrader function is a standout tool that enables users to automatically copy the trades of top-performing investors in real time. This feature is ideal for those who want to leverage the expertise of seasoned traders without the need to continuously monitor the market.
Smart Portfolios
eToro’s Smart Portfolios offer thematic investment opportunities, such as in sectors like medical cannabis or technologies like driverless cars. These pre-made investment strategies provide a convenient way to gain exposure to trending industries without needing to manage individual stocks.
User-Friendly Platforms
Both the web platform and mobile app are designed with ease of use in mind, making them accessible for traders of all experience levels. The intuitive interfaces facilitate easy navigation, trade execution, and portfolio management.
Diverse Asset Selection
With over 5,000 financial instruments available, eToro provides a broad spectrum of investment opportunities. This includes stocks, cryptocurrencies, ETFs, indices, currencies, and commodities, allowing traders to build diversified portfolios.
Transparent Fee Structure
eToro is committed to transparency, offering low and clear fees. Users can easily understand and anticipate the costs associated with their trades, which helps in managing investment expenses effectively.
Robust Security Measures
Security is a top priority for eToro. The platform employs advanced security practices to protect client funds and personal information. This includes encryption, secure storage, and adherence to regulatory standards, ensuring that users’ investments are well-protected.
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Where eToro Fall Short
Availability Limitations
Depending on where you live, eToro might not be accessible. This can be frustrating if you’re eager to join but find out that your state or country isn’t supported. Notably, if you reside in New York, American Samoa, Guam, Hawaii, Nevada, Puerto Rico and US Virgin Islands there is high chances you might not be able to enjoy eToro’s services.
Limited Crypto-to-Crypto Trading Pairs
If you’re looking to trade cryptocurrencies directly against each other, you might find eToro’s focus on crypto-to-fiat pairs restrictive. The range of crypto-to-crypto options is somewhat limited.
Regulatory Compliance
eToro’s adherence to various regulatory requirements can sometimes impact the availability of certain features or services in your region. This might affect your overall user experience.
Customer Support
While eToro aims to provide good customer service, some users have experienced delays in response times and dissatisfaction with the resolution of their issues. There’s definitely room for improvement here.
Educational Resources
Although eToro offers a variety of educational materials, you might find them lacking in depth or variety compared to what’s available on other trading platforms.
How to Qualify and Register for eToro

To get started with eToro, you’ll need to meet certain criteria and follow a few straightforward steps. Here’s a detailed guide to help you through the process:
Requirements for eToro (US)
- Ensure you are at least 18 years old to register for eToro. This ensures compliance with legal trading age regulations.
- Have a valid US residence in an eligible state. Note that eToro is not available in every state.
- Get a computer or smartphone with a reliable internet connection. This is essential for accessing eToro’s online platform and mobile app, executing trades, and managing your portfolio.
- Provide a valid US phone number that is connected to your smartphone. This is crucial for account verification and security purposes, including two-factor authentication (2FA) to protect your account.
Steps to Register for eToro
- Visit the eToro Website: Go to the official eToro website or download the eToro mobile app from your device’s app store.
- Click ‘Join Now’: On the homepage, you’ll find the “Join Now” button. Click it to start the registration process.
- Fill in Your Details: You’ll be prompted to provide some basic information, including your name, email address, username, and password. Ensure that the email and phone number you provide are valid as they will be used for account verification.
- Verify Your Identity: eToro requires identity verification to comply with regulatory standards. You will need to upload a copy of your government-issued ID (such as a driver’s license or passport) and proof of address (such as a utility bill or bank statement). This step helps protect against fraud and ensures the safety of all users.
- Deposit Funds: Once your account is verified, you can deposit funds to start trading. eToro supports various payment methods including credit/debit cards, bank transfers, and e-wallets like PayPal.
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Alternatives to eToro
Robinhood
Robinhood is renowned for its commission-free trading and intuitive mobile app, making it a popular choice among novice investors. It offers commission-free trades on stocks, ETFs, options, and cryptocurrencies, with a simple interface ideal for those new to trading. While the platform excels in ease of use, it has limited research tools and educational resources compared to other platforms.
TD Ameritrade
TD Ameritrade caters to both beginners and advanced traders with its comprehensive trading tools and educational resources. The platform offers a wide range of investment options, including stocks, bonds, ETFs, options, futures, and forex, along with advanced platforms like thinkorswim, which provide sophisticated charting and analysis tools. Despite its extensive offerings, it lacks commission-free trading for stocks and ETFs and can have higher fees for certain trades.
Charles Schwab
Charles Schwab offers a full-service brokerage experience with commission-free trades on stocks, ETFs, and options, along with a broad range of investment options and top-notch customer service. It provides access to proprietary research, third-party reports, and extensive educational resources, supported by 24/7 customer service. Some investment products, like certain mutual funds, may incur fees, but overall, it delivers a robust trading experience.
Fidelity
Fidelity is known for its robust research tools, comprehensive investment options, and excellent customer service. The platform provides commission-free trades on stocks, ETFs, and options, along with advanced research tools and extensive educational resources. Fidelity’s high-quality customer support is available through various channels, although its margin rates are higher than some competitors, and the platform may be overwhelming for complete beginners.
Binance
Binance is one of the largest cryptocurrency exchanges, offering extensive crypto trading options and advanced features such as futures and margin trading. It supports a wide array of cryptocurrencies and trading pairs with low fees and high liquidity, making it a go-to for crypto enthusiasts. Binance also provides educational resources through Binance Academy, but its complex interface can be challenging for new users, and the platform is not available in all regions.
Customer Reviews
eToro as an online trading platform continues to receive accolades from various major platforms for its unique features and user-friendly interface. Forbes Advisor praises its social investing features and vibrant community, making it an attractive option for casual traders seeking simplicity. StockBrokers.com recognizes eToro as an early pioneer in social investing with a vibrant community, recommending it for those prioritizing ease of use. NerdWallet highlights eToro’s accessibility, supporting trading in cryptocurrencies, stocks, and ETFs with a low starting investment, appealing to newcomers.
Techopedia acknowledges eToro as a top high-leverage broker, offering up to 30x leverage and catering to a diverse range of traders, especially those seeking a hands-off approach. The Motley Fool emphasizes eToro’s seamless social trading features in cryptocurrency trading, positioning it as a noteworthy platform among cryptocurrency exchanges. Collectively, these reviews showcase eToro’s strengths in user interaction, accessibility, and diverse trading opportunities, catering to traders of all levels of expertise.
Pro Tips
- Develop a Solid Strategy: Before diving into trading, take the time to develop a clear and well-defined trading strategy. Consider factors such as your risk tolerance, investment goals, and preferred trading style. Having a plan in place will help you make informed decisions and stay disciplined in the face of market fluctuations.
- Stay Informed: Keep up with market news, trends, and economic events that could impact your investments. Stay informed about the assets you’re trading and the broader financial landscape. This knowledge will help you anticipate market movements and make timely decisions.
- Practice Risk Management: Protect your capital by implementing effective risk management techniques. This includes setting stop-loss orders, diversifying your portfolio, and avoiding over-leveraging. By managing your risk effectively, you can minimize losses and preserve your trading capital over the long term.
- Utilize Technical Analysis: Learn how to analyse price charts and identify key patterns and indicators. Technical analysis can provide valuable insights into market trends and potential entry and exit points. Use technical tools and indicators to help you improve your trading decisions and improve your overall profitability.
- Embrace Continuous Learning: The world of trading is constantly evolving, so it’s essential to embrace lifelong learning. Stay curious and open-minded, and continuously seek out new knowledge and insights.
- Practice Patience and Discipline: Avoid making impulsive decisions based on emotions or short-term fluctuations. Stick to your trading plan, and don’t let fear or greed dictate your actions.
- Keep Emotions in Check: Emotions can cloud judgment and lead to irrational decisions. Learn to manage your emotions effectively and maintain a calm and rational mind-set while trading. Keep emotions like fear and greed in check, and avoid making decisions based on impulse or sentiment. By staying objective and level-headed, you can make better trading decisions and improve your overall performance.
- Review and Reflect: Regularly review your trading performance and reflect on your successes and failures. Analyse your trades to identify patterns, strengths, and areas for improvement. Learn from your mistakes and adapt your strategy accordingly. Continuous self-reflection is essential for growth and improvement as a trader.
- Stay Consistent: Stick to your trading plan and strategy, and avoid jumping from one approach to another based on short-term results. Stay consistent in your approach, and trust the process even during periods of market volatility or uncertainty.
- Seek Mentorship and Support: Consider seeking mentorship from experienced traders or joining trading communities where you can share ideas, insights, and experiences with like-minded individuals. Surround yourself with supportive peers who can offer guidance, encouragement, and accountability on your trading journey. Collaboration and mentorship can accelerate your learning and help you navigate the complexities of the markets more effectively.
Recap
In conclusion, eToro presents a distinctive social trading platform tailored to users seeking a community-driven approach to investing. With its innovative social features, diverse asset selection, and user-friendly interface, eToro offers an enticing option for traders of all levels. While eToro excels in social trading and mobile app functionality, it faces challenges such as limited cryptocurrency pairs, availability restrictions, and areas for improvement in customer support and educational resources.
Nevertheless, eToro remains a valuable platform for those interested in social investing, mirroring successful traders, and accessing various financial instruments. Prospective users should carefully assess their trading preferences and requirements to determine if eToro aligns with their investment objectives.
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