- Largest Social Trading Platform
- Engaging Interface
- Great for Novice Investors
|Support Types||Phone , Email , Live Chat|
|Languages||20 Different Languages|
|Trading Platform||All-in-one platform|
|Minimum 1st Deposit||£250|
|Minimum Account Size||£250|
|Minimum Trade Amount||1 Unit|
|Maximum Trade Amount||Depending on Account Type|
|Bonus||Capital at Risk|
|Leverage||Depends on Asset Class|
|Free Demo Account||Open Demo|
|Regulation||CySEC (Cyprus) , FCA (UK) , MiFID (EU) , NFA (USA)|
|Fee Info||Overnight Fee , Inactivity Fee|
|Commission Info||Depending on Account Type|
|Account Types||Real , Demo|
|Deposit Methods||Credit Card , PayPal , Wire Transfer , UnionPay , Skrill , Neteller|
|Withdrawal Methods||Credit/Debit Cards , China Union Pay , Giropay, Neteller , PayPal , Skrill Limited UK , WebMoney , Wire Transfer , Wirecard , Yandex|
|Trading Methods||CFD , Social Trading|
|Types of Assets||Crypto , Shares , Indices , ETFs , Commodities , Social Trading|
|Trading Currency||Ethereum , Ethereum Classic , Bitcoin , Bitcoin Cash , Ripple , Dash , Litecoin|
|Account Currency||GBP , USD , EUR|
|US Traders Allowed|
- Leader in Cryptocurrency trading
- Reasonable Commission & Fees
- Real CryptoCurrencies
- CopyTrader™ Technology
- Very intuitive, User-Friendly Platform
- $5 No Activity Fee after 12 months
- No Leverage on Cryptocurrency buying
eToro Review – About the Company
eToro is the first global CFD broker offering a marketplace and social trading platform for people to trade currencies (including Ethereum and Bitcoin), commodities, indices and stocks online in a simple, transparent and more enjoyable way. With offices in the United Kingdom, Cyprus and Israel, eToro is one of the leading multi-asset brokers that were among the first ones to introduce trading CFDs in cryptocurrencies, like Bitcoin and Ethereum. Please read this comprehensive eToro review to learn how you can trade cryptocurrencies online.
eToro Review – CFD Service
We particularly want to make sure that you understand that you are trading CFD or Contract for Difference. You must understand that you will not buy Ethereum as such you can not hold it for a period of time while you wait for it to go up in price. If this is what you are after you need to register with an exchange and we will review shortly a few exchanges for you to try out. In the meantime, if you are interested to trade on the exchange price upward or downward trends, the only service with which you can do that is CFD. This is not only the easiest but cheapest option as well as you do not need to buy significant amounts to make a potential positive trade. Sadly, no Leverage is offered for your crypto trades as with other assets classes as this market is too volatile, as advised by eToro. Although, this removes quite a big chunk of fun and thrill from the trades but surely makes it much much safer. Remember with CFD trades, you also can make money on downtrends what you can not do if you invest in the cryptocurrency itself. But please make sure that you only trade an amount that you are willing to lose to avoid any potential irreversible damages in your personal life! This is very important!!!
What is so Great about eToro?
Broker Covered Markets
With eToro you can invest in the following financial instruments cryptocurrency, including Ethereum, commodities, stocks, fixed income, exchange-traded funds, indices, ETFs across USA, Europe and Asia.
eToro – Regulations
As of the time of this writing eToro, broker regulated by the FCA (United Kingdom) and CySEC (Cyprus) has over 4.5 million loyal customers spread over 170 countries. Their innovative investment platforms and straight-forward trading process allows everyone, from professional financial advisers to absolute beginners, to achieve their financial and investment goals.
Advantages of the eToro Platform
One of the main advantages of eToro is large and expanding customer base and diverse choice of instruments you can trade. Enjoy hassle-free deposits and withdrawals, instant execution of trades and a free $100,000 demo account to practice your strategy.
The eToro platform is very easy to navigate almost intuitive interface, which does not require lengthy adaptation time and learning curve. You can easily find instruments you want to invest in and study their historical charts. Apart from the easy navigational menu, you can also enjoy the social trading option. You can browse the most successful traders and adapt or copy their trade strategy what can be very useful if you do not like to sit in from of your computer all day and analyse the markets. Once you become a seasoned trader you can start developing your strategies and be copied for what the platform actually pays you a commission. So the more successful you become as a trader the more chances you will have to earn as a copied trader as well.
To prove that eToro is a social trading platform you also can get up to £100 from inviting your friends to try the platform out and in return your friend will get $50 for joining the platform. not bad, ha….?
What is Copy trading?
Copy or Social trading is one of the services eToro offers to novice traders to make the trading experience more fun, easier and hassle-free while you are learning and becoming more experienced in trading. You effectively can copy more experienced traders by browsing their performance, choosing the ones, which suit your risk appetite and markets you are most interested in trading. While this is a whole new topic, deserving a review on its own, we offer your attention a comprehensive overview of the service by eToro to show some of the advantages of this trading.
- Largest Social Trading Platform
- Engaging Interface
- Great for Novice Investors
How to deposit funds on eToro?
Once you have registered and undergone the verification process you are ready to start trading but before, of course, you need to deposit funds. Here are a few helpful screenshots where and how you can do that and what depositing methods are available and accepted by eToro. As a first-time depositor, you can deposit from minimum £200 (first time) to a maximum of £10,000.
Accepted Deposit Methods on eToro
Below are the funds deposing methods accepted by eToro. Also, bear in mind that eToro charges a fee when you decide to withdraw money from your account and it is $25 and a minimum withdrawal amount is $50.
eToro PayPal Deposit
Can I transfer funds from my PayPal account? For most countries yes, you can transfer funds from your PayPal account and start trading Ethereum. There may be some limitation for other countries where PayPal is not a widely accepted payment medium.
eToro Review – Trading Fees
eToro spreads and overnight fees for cryptocurrency trading are listed in the table below. Fees generated from the spread will be charged at the closing of a position. No fee charged at the opening of a position, as these spreads may change over time. These spreads are the minimal spreads and are not guaranteed. The fees may vary according to market conditions and liquidity. eToro reserves the right to widen the spreads if market conditions change.
All minuses refer to a fee; all positive numbers show a credit. The daily fee/credit will be multiplied by 3 for positions carried over Wednesday nights. The fees/credit will be charged/credited at 17:00 New York time for any position open at this time.
eToro Review – Trading Market Hours
Depending on the asset class and the market you are trading, different trading hours apply. All traditional stock exchanges will trade normal working hours – from Monday morning to Friday evening. Good news for those trading Ethereum and Bitcoin is that the market open 24/7, meaning that you can open and close trading positions when you feel like.
eToro Review – Conclusion:
Overall we liked eToro’s platform for its easy and fancy navigational interface, for the chance to be able to copy more successful traders strategies, for being able to use the leverage option (not in cryptocurrency trading though…) easy ways to get in and out of the trades and of course the virtual Demo account. We think eToro is a great tool for beginner traders who are just learning and getting accustomed to the jargon, making their first trades, tasting the world of the trading. However, it is also great for seasoned traders who just want a hassle free easy, quick no-nonsense trading platform. There are some drawbacks as per our cons list but as you already figured cryptocurrency trading is still a very new an undiscovered territory so may brokers do not yet know what is going to happen with uncontrollably growing prices, government’s take on this and further regulations which may quite frankly influence the future prices of digital currencies. Another potential disadvantage is a £1,000 minimum deposit. That could be required to cover potential margin calls when trading with leverage, so if you are serious in trading and have a responsible approach that should not be a problem.
RISK WARNING: Cryptocurrencies can fluctuate in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.