eToro Broker Review 2020

Are you looking to know everything about eToro Broker? This is a complete guide on eToro trading. Get unbiased customer reviews, ratings, and many more. Let's rock and roll below!

eToro - Multiple Award Wining Broker

Etoro has become one of the best places for “Investors” to experiment with their luck because they are known as a key player in the world of CFD (Contract for Difference) and “Crypto Trading.”

Service information

Demo Account Yes
Minimum Deposit $200
Max Leverage 1:30
Spreads from Spreads
Type of Broker Market Maker
Tradable Assets CFDs on Crypto, Stocks, Commodities, ETFs, Indices, CopyFunds, and Currencies
Deposit Options Credit/debit card, wire transfer, Giropay (Sofortüberweisung), China Union Pay, Neteller, Skrill Limited UK, PayPal, WebMoney, Wirecard, CashU, and Yandex

Company information

Established 2007
Regulated by CySEC, FCA
Telephone +448663500881
Customer Support 24/5 in 8 languages

Etoro-ForexBroker1-DailyForexTrading.Net

 

Etoro Broker isn’t only limited to “Trading Only,” but they are expanding their arms to cover the “IT Field” as well.

"Additionally, they have earned great respect as the “Leading Social
         Media Trading Platform” because of their tools, team, and experience"


The Company started rolling with “Simple Trading,” but with the time, they had decided to grow up and eventually ended up becoming a “Giant” in the field of CFDs and Cryptocurrencies.

The most interesting fact about “Etoro Broker” is that they have introduced the social features on their platform in the shape of “Copy Trading” and “Copy Portfolios.”

Today, they have more than 6 Million Registered Users and enjoying the tag of Industry “Leader.” Now, it’s time to show you the “Whole Etoro Group in a Glance.” Have a look at the table below:


Broker


Etoro

Regulations

FCA (United Kingdom), CySEC (Cyprus) and ASIC (Australia)

Minimum Initial Deposit

$200

Demo Account

Yes

Leverage

20:1

Trading Platform

Mobile Apps, Web

History - Etoro Review

Let’s get started with the “History” of the Etoro Broker:

Etoro Broker was founded in 2007 with three partners who wanted to make the “Trading” easy and accessible for every single user.

The aim of “Etoro Group” is to reduce the Hanging on the local banks and other ways of “Sending/Receiving” money. With a brilliant interface and graph representation of your investment, it didn’t take a long-time to “Beat the Heart-Strings of the investors.”

In 2009, Etoro Broker started to see the “Golden Time” of their platform, where they introduced trading tools for all the “Skill Level” investors. Guess what? The idea never backfired, and investors loved the idea of “Trading Tools,” that’s because it just made trading easy for them.

Etoro-SocialTrading-DailyForexTrading.Net

Let’s break down some interesting facts about “Etoro Broker” now, and then we will lead the facts with different account types of “Etoro Broker.”

Scroll down and enjoy the show!

Interesting Facts - Etoro review

  1. Etoro Broker is the first “Trading” platform to introduce social platforms in the world. The features of the Social trading platform include; Copy Traders and Copy Portfolios.

  2. In 2012, they achieved the milestone of adding “Stocks” to their platform. For instance; Currencies and Commodities.

  3. They launched the mobile application in 2013 and made it easy for the investors to control their “trading” through a mobile app. They no longer have to open the “Laptop” and fix the things up.

  4. In 2015, they modified their official website and brought some new innovations and experiences to help the investors.

  5. In 2017, they started to collaborate with the Cryptocurrencies like “Ethereum, Litecoin, and XRP.”

  6. In 2019, they moved forward and launched eTorox (Where you can send/receive Cryptocurrencies).

These are the interesting facts about “Etoro Broker,” and now it’s time to discuss the “Account types” of “Etoro Group.”

Let’s break them down!

Account Types - etoro review

There are different types of account that you can open on “Etoro” and we are listing all of them down below:

  • Demo Account
  • Live Account
  • Islamic Account
  • Corporate Account


Demo Account

To learn the basics of trading and know more about “Etoro Broker,” they have introduced a Demo account. This account assists you in getting started with the Forex trading world, and it’s a roadmap towards opening the “Beginner’s Account.” You can open a trading account if you’re serious about your “Trading Journey.”

Etoro-DemoAccount-DailyForexTrading.Net


Live Account

Getting the Live Account right after the Demo account is super easy. All you’ve to do is to add little additional information, and you’ll end up creating a “Live Account.” It is stepping forward towards the “trading world,” and you’ll get to know a lot about “How Currencies Trade.”

Have a look at the picture below:

Etoro-LiveAccount-DailyForexTrading.Net


Islamic Account

Now, this account is for those “who want to follow Islamic Rules” for trading. This account allows you to follow all the “Shariah’s Law.” Etoro Broker Islamic Account is all you need, and if you need further information about “Opening the Islamic Account,” then contact us straight away.

Etoro-IslamicAccount-DailyForexTrading.Net


Corporate Account

It’s time to move to the “VIP” club of the Etoro Group by opening the account with the “Corporate” tag. Yes, because opening the Corporate account means “Opening the doors of thousands of opportunities” for your investment. 

Opening the Corporate Account on “Etoro” involved little complications, but if you’re seeking our help, we are 24/7 live to help you. 

Etoro-ClientAccount-DailyForexTrading.Net
Before we head towards more questions of “Etoro Broker,” what about discussing Pros and Cons of all the services of the “Etoro Group?”

Let’s talk about it.

exclusive Services - etoro review

So, we will be breaking down the pros and cons of the following services:

  • Security
  • Costs and Accounts
  • Trading
  • Education Support

The overall pros and cons of “Etoro” have been listed at the end of the Content.

pros & cons of Etoro Security


Pros


Cons

International Broker

They have limited features in the United States

They have Top Tier’s Regulation and Associated with different regulation companies

 

Your money is safe because their security is too strict

 


pros & cons of Cost and Accounts


Pros


Cons

They come up with unlimited demo accounts

High spread than other trading platforms

You don’t have to deal with high deposit fees in most of the cases

Minimum Deposit Fee for the Islamic Account is relatively too high

They have 0% commission policy when investing in Stock and EFT’s

 

 
pros & cons of Trading systems


Pros


Cons

You can start your trade with the budget you have; they aren’t strict about “Budget” thing when it comes to minimum budget

Again, the US Traders are highly restricted when it comes to “Assets Available.”

A lot of investors choose this platform for the “Crypto.”

They don’t allow you to have “Hedging-Sledging.”

They have social trading option

 

Easy to Navigate and User-Friendly Platform

 

Dividends

 

 
pros & cons of Educational Support


Pros


Cons

No language Barrier

Educational Lessons aren’t available in every language

They provide you free education

Live Chat Service is available, but they don’t deal with all the languages

Webinars and Lessons on a daily/weekly basis

 


How to open an account on Etoro


Opening the account on Etoro is simple, and you can do it with the help of the guide given below:

  1. Head towards the official website of “Etoro” by Clicking Here and then click on the “Join Now” button.

  2. On the “Join Now or Trade Now” page, you’ll be shown an “Electronic Form” that you need to fill accordingly. We would suggest you have your ID, Permanent Address, and Credit Card right in-front of you to get the job done quickly.

  3. Additionally, they offer you “Facebook and Gmail” option to sign-up as well, have a look at the screenshot below:

    Etoro-OpeningAccount-DailyForexTrading.Net
  4. Before clicking on the “Create Account” button, take some time to read “Terms and Conditions” of Etoro Broker because it’s worth it.

  5. Now click the “Terms and Conditions” checks and then click on the Create Account Button.

    Etoro-Terms&Conditions-DailyForexTrading.Net
  6. Once you’re done with the submission of your “General Information,” it’s time to verify your identity, and it can be done by submitting your ID Card to the “Etoro Broker” like shown in the screenshot below:

    Etoro-SubmittingIDCard-DailyForexTrading.Net
  7. Things aren’t going to stop here, you’ve to verify your “Permanent Address” as well, and you can verify it by submitting one of the following documents:  Bank Statement  >  Credit Card Statement  >  Utility Bills  >  Council Tax Bill

Etoro-VerifyProcess-DailyForexTrading.Net

The verification process will take 48-72 hours, and you’ll be notified with an email. 

That’s how easy it is to open an account on Etoro.

HOW TO WITHDRAW MONEY FROM “ETORO”

To withdraw money from “Etoro,” you need to follow the steps that we are breaking now:

  1. Login to your account and then click on “Funds” button
  2. Click on the Withdraw Funds button on the left side of the window
  3. Now enter the information in the “Electronic Withdrawal Form” and then click on the continue button
  4. Click on the Submit button now, and you’re done

Note* We don’t have our account on “Etoro,” but we have collected the information from the official website of “Etoro.”

Let’s break down everything related to the facilities provided by the “Etoro Broker’s.”

Facilities Provided by Etoro Broker’s

There are several facilities that are provided to you by the “Etoro Broker’s,” and we are listing them down:

Etoro Spread

Before we break down details of spread in an informational table, let us define what “Spread is all about.”

Spread is known as the difference between selling and buying prices. In short,* it is the commission that your broker charges you for every position.

The spread of Etoro is dependent on the Hourly, Daily, and Weekly basis. The below table will kick all the confusion away from you.


Instrument


Market Hour


Daily Break


Spread


Sell


Buy

Bitcoin

24/7

 

1.5%

-0.47

-0.47

Bitcoin Cash

24/7

 

5%

-0.14

0

Dash

24/7

 

3%

-0.03

0

Ethereum

24/7

 

2%

-0.03

-0.03

Ethereum Classic

24/7

 

5%

-0.001

0

Litecoin

24/7

 

3%

-0.006

0

NEO

24/7

 

5%

-0.001

0

Stellar

24/7

 

5%

-0.0000416

0

Ripple

24/7

 

3%

-0.000022

0

 Let’s now talk about the execution time of the Etoro Broker because it’s important for most of the people that are new to the trading field.


EXECUTION TIME
 

The previous market of the Etoro tended to open from 9:00 am to 21:00 (GMT), but later on, they adjusted the time to 21:05 (GMT).

The new adjustments are meant to provide traders more chance to invest, but they didn’t disclose the information why did they extend the time. We will keep you updated about every single thing related to “Etoro” in this article.


Commission/Fee

Note* They don’t charge you for deposit or clearing fee

The minimum withdrawal amount from Etoro is $30, and each time on the withdrawal of the money, they will take $5 from you.

Didn’t understand everything clearly? Not a problem, we have completed the research work already for you. Have a look at the table below containing all the information related to Commissions and Fees of Etoro Broker.


Instruments


Fee

AUD USD

Pips50

EUR USD

Pips50

GBP USD

Pips50

RUB USD

Pips50


Conversion fee (On withdrawal)


Instruments


Fee

AUD USD

Pips100

EUR USD

Pips250

GBP USD

Pips250

MYR USD

Pips100

RMB USD

Pips50

RUB USD

Pips50

 
Conversion Fee (Deposit)


Instruments


Fee

IDR USD

1%

VND USD

1%


Crypto (Transfer Fee)


Crypto


Fee

BTC - Minimum Withdrawal Amount 0.0086 BTC

0.005 Units

ETH - Minimum Withdrawal Amount of 0.3 ETH

0.006 Units

XRP - Minimum Withdrawal Amount of 133 XRP

0.25 Units

LTC - Minimum Withdrawal Amount 0.68 LTC

0.001 Units

BCH - Minimum Withdrawal Amount 0.18 BCH

0.001 Units

XLM - Minimum Withdrawal Amount of 534 XLM

0.01 Units

We hope that you have understood the concept of “Conversions and Fees,” and now it’s time to move to the customer service of “Etoro Broker.”

Let’s break down the details.


Customer Service



Etoro is known for providing great Customer Service, and that’s why they have millions of registered users and satisfied with the performance of Etoro.

If you’re facing any issues related to your account, there’s a “FAQ’s” section on the Customer Service Page; you can explore your issue by typing it in the “Type your Question” here section. You’ll end up getting the answer to your problem.

But, if you still didn’t find the right answer to your question, you can contact the team by filling a form and entering the details of your problem. You’ll get the answer within 48 hours.

Also, they have a “Live Chat” option too, but because of the burden of the queries, they respond way too late. So, we would recommend you to ask your question in detail, and they will solve the issue for you.

Leverage of Etoro

Just like the other Broker platforms, the Etoro Broker also offers you “Leverage Calculator,” where you can easily calculate everything accordingly. Just head towards the “Leverage Calculator” page of the Etoro, and you’re done.

Here’s the screenshot:

Etoro-Leverage-DailyForexTrading.Net


Cryptocurrency Expansion

Talking about the pairs of Etoro, then they have introduced 35 New Pairs, and now the total number of 44 Pairs are available for the users to trade on. The new pairs cover a lot of regions and currencies, let us break down the updated pair for you:

Australia

BTC and AUD, ETH and AUD, XRP and AUD, ETC and AUD, BCH and AUD, LTC and AUD

Canada

BTC and CAD, ETH and CAD, XRP and CAD, ETC and CAD, BCH and CAD, LTC and CAD

Japan

ETC and JPY, BCH and JPY, LTC and JPY

New Zealand

BTC and NZD, BCH and NZD, ETH and NZD, ETC and NZD, LTC and NZD XRP and NZD

Switzerland

BTC and CHF, ETH and CHF, XRP and CHF, LTC and CHF, BCH and CHF, ETC and CHF

UK

BCH and GBP, ETC and GBP, LTC and GBP, XRP and GBP

EU

BCH and EUR, ETC and EUR, LTC and EUR, XRP and EUR

Let’s compare Etoro now with IC Market.

Etoro vs. IC Market

Have a look at the comparison down below:


Etoro


IC Market

4/5 Stars

4/5 Stars

Trust Score: 91

Trust Score: 73

Tier 1 License: 2

Tier 1 License: 1

Tier 2 License: 1

Tier 2 License: 0

Tier 3 License: 0

Tier 3 License: 1

EU Authorized: YES

EU Authorized: NO

Mobile Application: Yes

Mobile Application: Yes

So, that’s a brief comparison of “Etoro Broker and IC Market.” It’s time to move to the “Advantages and Disadvantages of Etoro Broker.”

Let’s talk about it!

Advantages and Disadvantages of Etoro


ADVANTAGES of Etoro


DISADVANTAGES of Etoro

You’ll get social trading experience

The fee of “Forex Trading” is higher as compared to other platforms

Opening the account isn’t a problem; you can do it with ease. Also, you have many options to choose the accounts.

You can’t withdraw the money swiftly, as the process is slower and costly

They have a great User Interface and easy to navigate website

It only provides you one account base currency

You can trade EFT’s in the European Union

 

 

 

Before we leave and head towards the new blog post, why not enlighten you about “Etoro Bonus, Contest and Promotions?”

Let’s break everything down!

Etoro Broker Bonus

Etoro is all set to announce the “Bonus Code” for the new investors, but the offer is going to valid only for the “Australians, Americans, Asians” except the “European Countries.”

But, they didn’t announce the Bonus Code yet, and you’ve to wait for the final announcement. You can earn bonuses with the help of “Referral Links” as well.

If you’ve registered for the “Etoro” already and somebody uses your referral link to get registered on the “Etoro Broker” then your account is going to be funded with a “$50” bonus.

 

ETORO BROKER CONTEST

Etoro comes up with a “Brand New” section on the website where they promote “Monthly Challenges” to keep the investors engaged. So, if you want to get yourself registered for the “Etoro Broker” contest, then getting registered in advance for the next month is what we recommend.

There are a few “Terms and Conditions” of Joining the content, and you can read all of them by clicking here.

Etoro Broker Promotions

You can witness different “Etoro Promotions” because they want to attract new investors towards their business. Etoro has the best promotional services, and you’ll get the following bonuses when meeting their requirements:

  1. $1000 Bonus on your Initial Deposit of $2500-$5000
  2. 30% bonus when you deposit money from “$500-$10,000

So, that’s all from the topic “Etoro Broker,” and we are hopeful that the content has helped you a lot to understand the core concepts of “Etoro Broker.” If you’ve any questions in mind, then feel free to comment down below.

frequently ask questions

There are millions of satisfied customers that are happy with the performance of “Etoro Broker” and let us break down a few most critical ones below:

Brad Tom, CEO at Global Crypto Media: It’s a great platform for most of the investors because of their fees, different types of accounts, Stocks, Cryptocurrencies, Social Trading, and a lot more. I just love trading with Etoro because they understand the value of the customer.

Selina Anjuman, Finance Journalist at Investing.com:There are three good things and two bad things about “Etoro Group.” Good things are “Low-Fee, Social Network, and User-Friendly Interface.” The bad thing about Etoro is “High Spread, Limited Technical Analysis.”

Nathan Felix, Forex Signal Adviser at PipsWin.com: For all the beginners, it’s a good platform to start with and learn about “Trading.”

eToro charges a flat $5 fee on all withdrawals. The minimum withdrawal amount is $30.

Depositing is quick and easy. There are various payment methods at your disposal. You may choose whichever method you prefer and follow the instructions below:

  1. Log in to the trading platform
  2. Click on 'Deposit Funds'
  3. Enter the amount and your preferred currency
  4. Select the method of payment you wish to use

Below, you will find more information regarding:

  • Depositing via Credit Card
  • Depositing via Wire Transfer
  • Depositing via Giropay
  • Depositing via E-wallet (PayPal, Skrill, Neteller)

eToro is offering you the opportunity to start your own trading account with a minimum deposit amount of only $200.

Just like the other Broker platforms, the Etoro Broker also offers you “Leverage Calculator,” where you can easily calculate everything accordingly. Just head towards the “Leverage Calculator” page of the Etoro, and you’re done.

Here’s the screenshot:

Become an eToro Popular Investor and earn a 2% annual fee. Example: If 1,000 people copy you with a total of $10 million, you will earn an additional $200,000 a year. When you are copied by other people, you will earn fixed payments and up to 2% of your annual assets under management (AUM) paid out monthly.

Etoro is considered as one of the best and safest trading platforms that are backed by British and Australian Financial Authorities. But, everyone who knows about CFD’s, they know CFD’s are a risky investment, and there are 70% chances that you might go in loss.

As we are now done with the “History and Account Types” of “Etoro Broker,” it’s time to discuss in-depth details of this great platform to help you out.

eToro Social Trading
Social trading is suitable for users who don't have enough experience in trading. Beginners can copy trades of more experienced traders in a rather quick and easy way using the platform. ... eToro will display the most successful traders first.

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Slava J

Moscow, Russian Federation
May 1, 2020 at 17:17:52 PM

Best of Best Broker For Social Trading

  • Service use : Live
  • Length of use: More Than 1 Year

For all the beginners, it’s a good platform to start with and learn about “Social Trading.”

HOW CAN WE HELP YOU?

contact@dailyforextrading.net