eToro

eToro
WikiStock Rating	⭐⭐⭐⭐
Account Minimum	$50
Fees	Yes
Account Fees	Not Mentioned
Interests on Uninvested Cash	Not Mentioned
Margin Interest Rates	Not Mentioned
Mutual Funds Offered	Not Mentioned
App/Platform	eToro Money app
Promotions	Not Mentioned

What is eToro？

　　eToro is a global social investment and multi-asset brokerage company with multiple offices worldwide. Their platform offers both manual and social investing options, providing a range of financial instruments such as stocks, currencies, commodities, cryptoassets, ETFs, and indices. Clients can track and invest in these instruments using professional tools and analyses. The social investing feature allows clients to follow and replicate the investment activity of other clients in real time through the CopyTrader™ system.

　　eToro's platform operates transparently, displaying relevant client data like gain percentage, risk score, and portfolio composition. The Popular Investor program rewards successful investors for sharing their expertise and being copied. Smart Portfolios, a long-term investment vehicle, offers ready-made portfolios of top investors or predetermined market strategies. eToro Money app includes a cash account and debit card for banking transactions and shopping globally.

Pros & Cons of eToro

• 　　Regulated: eToro is regulated by four authorities,holding trading licenses from the Australia Securities & Investment Commission (ASIC), the United Kingdom Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority(FSA).

• 　　Wide Range of Educational Resources: eToro provides various educational tools such as News and Analysis, eToro Academy, and CopyTrader to help users make informed investment decisions.

• 　　CopyTrader Feature: Users can mimic the trades of successful investors through eToro's CopyTrader feature, providing opportunities for learning and passive investing.

Cons:

• 　　Conversion Fees: eToro charges conversion fees for depositing or withdrawing funds in currencies other than USD, potentially adding extra costs for users.

• 　　eToro Plus Membership Required for Enhanced Features: Some advanced tools, personalized support, and exclusive offers are limited to users with the eToro Plus membership, potentially requiring an additional subscription fee.

Is eToro Safe？

　　In terms of fund security, eToro ensures client fund safety by holding them in segregated accounts with top-tier banks or qualifying money market funds. Detailed transaction records are maintained for client accounts, aiding in asset distribution in the unlikely event of eToro's insolvency.

　　Eligible clients can seek compensation through relevant Investor Compensation Schemes. Platinum, Platinum+, and Diamond Club members are covered by private insurance from Lloyd's of London, covering cash, CFD positions, and securities up to 1 million euros or AUD, with claims exceeding 20,000 euros or AUD subject to an excess amount.

　　Furthermore, eToro is a global multi-asset platform that is regulated by several financial authorities around the world. The platform holds trading licenses from the Australia Securities & Investment Commission (ASIC) (No.491139), the United Kingdom Financial Conduct Authority (FCA) (No.583623), the Cyprus Securities and Exchange Commission (CySEC) (No.109/10), and the Seychelles Financial Services Authority(FSA)(No.SD076).

　　For potential clients considering using eToro, it is recommended that they carefully review the regulatory licenses held by the platform and understand the regulatory framework in their own country. Clients should also conduct their due diligence on eToro's reputation, user reviews, terms, and conditions before opening an account.



What are Securities to Trade with eToro？

　　eToro provides a range of financial products and services, including Securities Lending Fully Paid, Margin Loans, Bonds & Fixed Income options, Futures, Investment Advisory Service, Options, Stocks, ETFs, and Mutual Funds. These offerings cater to various investment strategies and risk appetites, allowing users to diversify their portfolios across different asset classes.

eToro Accounts

　　eToro caters to traders of all levels by providing both demo and live accounts, each tailored to suit different needs and preferences.

　　The demo account offers a risk-free environment for users to practice trading strategies and familiarize themselves with the platform's features before committing real funds.

　　Additionally, eToro offers premium account tiers, namely Platinum, Platinum+, and Diamond Club, which provide exclusive benefits such as priority customer support, advanced trading tools, and enhanced features.

eToro Fees Review

　　eToro charges a conversion fee for depositing or withdrawing funds in currencies other than USD. The platform does not charge fees for transactions in USD. Conversion fees are applicable for supported currencies when converting funds to USD. Withdrawals in supported currencies also incur conversion fees. If using an unsupported currency, conversion fees are charged by the payment provider.

　　Fees vary based on payment method, currency, and eToro Club level. There are no USD conversion fees when depositing from the eToro Money account. eToro Money offers competitive FX rates with the eToro Money Visa debit card. Additional details on fees can be found on the website.

eToro App Review

　　eToro provides its official mobile application, known as the eToro Money app, which is accessible for download on both the App Store and Google Play Store. The app offers users the convenience of managing their eToro accounts and conducting financial transactions directly from their mobile devices. Users can access features such as account monitoring, fund transfers, and trading functionalities through the app.



Research & Eduation

　　eToro provides a range of educational resources to support its users in their trading and investment activities. These resources include News and Analysis, eToro Academy, eToro Plus, Digest & Invest, Bitcoin Halving, and Account Security.

• 　　News and Analysis: eToro offers news updates and market analysis to keep users informed about the latest developments in the financial markets. This resource aims to provide objective information and insights that can assist traders and investors in making more informed decisions.

• 　　eToro Academy: The eToro Academy is an educational platform that offers a variety of learning materials, including tutorials, courses, and webinars. It covers various topics related to trading strategies, market analysis, risk management, and more. The objective of the academy is to enhance users' knowledge and understanding of trading concepts and techniques.

• 　　eToro Plus: eToro Plus is a premium subscription service available to eToro users. It provides additional features and benefits, such as advanced charting tools and priority customer support. The purpose of eToro Plus is to offer enhanced functionality and support for users who opt for the subscription.

• 　　Digest & Invest: Digest & Invest is a feature offered by eToro that allows users to automatically invest in portfolios created by top-performing traders on the platform. Users can choose to allocate funds to these portfolios based on their investment goals and risk preferences. The objective of Digest & Invest is to provide a convenient way for users to access diversified investment strategies and potentially benefit from the expertise of successful traders.

• 　　Bitcoin Halving: Bitcoin Halving is an educational resource offered by eToro that explains the concept of Bitcoin halving events. It provides information about the periodic reduction in the rate at which new Bitcoins are created and its potential impact on cryptocurrency's price and market dynamics. The objective of this resource is to educate users about a specific aspect of the Bitcoin ecosystem.

• 　　Account Security: eToro emphasizes the importance of account security and provides resources and features to help users protect their accounts. This may include two-factor authentication, secure login procedures, and educational materials on best practices for maintaining account security. The objective is to assist users in safeguarding their accounts and personal information.

Customer Service

　　eToro offers comprehensive customer support to its clients.Clients can reach out to eToro through various channels.

• 　　Telephone: Clients can call their number 02045251189 for any queries.

• 　　Email: The firm offers assistance through email athotline@sctrade.com.

• 　　Fax: You can fax them at(852) 3101 9200.

• 　　Live Chat: Live chat is available for clients who prefer a quick and instant response.

• 　　Social Media: eToro also maintains a strong presence on Facebook, Twitter, Instagram, Youtube and Linkedin, providing clients with a more informal method of communication or for staying updated with the firm's latest news.

　　The company also provides its physical address, 4 Profiti Ilia Str., Kanika Business Centre, 7th floor, Germasogeia, 4046, Limassol, Cyprus, 24th floor, One Canada Square, Canary Wharf, London E14 5AB.

Conclusion

　　In conclusion, eToro presents itself as a regulated and comprehensive platform for traders and investors, offering a range of assets, intuitive trading tools, and innovative features like CopyTrading. While it provides a convenient mobile app for on-the-go trading, users should be mindful of fees, regulatory considerations, and the inherent risks associated with trading in financial markets.

FAQs

　　Which regulatory authorities oversee eToro's operations？

　　eToro is regulated by ASIC, FCA, CySEC, and FSA, ensuring compliance with financial regulations in various jurisdictions.

　　Is eToro a good platform for beginners？

　　eToro can be a good platform for beginners due to its user-friendly interface, educational resources like eToro Academy, and features such as CopyTrading, which allows users to mimic the trades of experienced investors.

　　What compensation options are available to me as an eToro client？

　　Eligible clients can seek compensation through relevant Investor Compensation Schemes. Platinum, Platinum+, and Diamond Club members are covered by private insurance from Lloyd's of London.

Risk Warning

　　The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.