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eToro Review

Chris McKhann

Written by Chris McKhann
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis

November 28, 2022

eToro approaches trading differently than its competitors by allowing you the opportunity to follow and emulate other crypto traders, or even develop a lucrative following of your own. Though eToro also offers fractional stock shares and paper trading, it will appeal most to those who are interested in learning how to trade cryptocurrencies or joining a crypto-focused community.

eToro USA LCC does not offer CFDs; only real crypto assets available.

eToro
3 Stars Overall
  • Minimum Deposit: $10.00
  • Stock Trades: $0.00
  • Options (Per Contract): N/A
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Deposit $100 and get a $10 bonus!

Top Takeaways for 2022

Here are our top findings on eToro for 2022:

  1. eToro offers a unique and easy to navigate social trading platform that is strongest in cryptocurrencies, where it offers 26 coins.
  2. Its CopyTrader feature allows clients to replicate others’ trades, and eToro’s Popular Investor program provides cash payouts and other incentives to traders able to develop a CopyTrader following.
  3. We think eToro’s platform is best suited for beginning crypto enthusiasts who enjoy collaborating with others but have some interest in buying stocks and exchange-traded funds.

Note: If you are located in the United States, check whether eToro is licensed to trade stocks in your state. At the time of this writing, eToro isn’t licensed to trade in four states or any U.S. territories. On that note, eToro operates differently in other countries. If you are outside the U.S. or interested in forex trading, you may like to read our reviews of eToro on our sister sites, StockBrokers.com UK and ForexBrokers.com.

Overall summary

Feature eToro logoeToro
Overall 3 Stars
Investment Options 2 Stars
Commissions & Fees 4 Stars
Mobile Trading Apps 2.5 Stars
Platforms & Tools 2.5 Stars
Research 2.5 Stars
Customer Service N/A
Education 3.5 Stars
Ease Of Use 4 Stars

Offering of investments

eToro offers cryptocurrencies, stocks, and ETFs, including fractional shares. The offerings are limited to about 2,000 stocks and 220 ETFs. Options, mutual funds, futures, forex, and bonds are not supported. eToro does not offer any banking services, robo portfolios, or advisory services. Margin trading is also not available.

Cryptocurrency: eToro offers 26 cryptocurrencies in the U.S., allowing users to trade, among others, Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), Algorand (ALGO), Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK), Zcash (ZEC), Stella Lumens (XLM), Ethereum Classic (ETC), Shiba Inu (SHIB) and Dash (DASH).

Commissions and fees

Like the competition, eToro offers $0 commissions on stock and ETF trades. It charges a 1% fee on both entry and exit for cryptocurrency trades and both fees are taken out on the opening of the trade. There is a minimum investment of $10. Though $10 shouldn’t be an issue for potential clients, many competitors don’t require an initial investment. eToro does not charge a withdrawal fee, but there is a $30 minimum requirement.

Penny stocks: eToro does not currently offer penny stocks.

Feature eToro logoeToro
Minimum Deposit $10.00
Stock Trades $0.00
Penny Stock Fees (OTCCB) N/A
ETF Trade Fee $0.00
Options (Base Fee) N/A
Options (Per Contract) N/A
Options Exercise Fee N/A
Options Assignment Fee N/A
Futures (Per Contract) N/A
Mutual Fund Trade Fee N/A
Broker Assisted Trade Fee $0
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Mobile trading apps

The mobile trading app is essentially identical to the web experience, with less customization. Again, it feels more like a social media app than a trading app.

Ease of use: Navigation is simple and reasonably intuitive, partly because there is not much to see. Some of the icons are not particularly clear or labeled, but there is not much of a learning curve. The consistency between platforms also adds to the ease of use.

Watch lists: These are simple and clean. The name, symbol, small chart, price and change is shown. You can toggle between one-day, one-week and one-month views. Clicking through takes you to the underlying information, where you can view posts, stats, a chart, research and news.

Charting: There are two different chart views. The first is on the stats page, where you can see a line chart from one day out to three years (or max). The second is a dedicated chart page. This can be customized from 1 minute to 1 week, and offers five different chart styles and 5 different indicators.

Other trading platforms and tools

eToro is light on trading tools, but does shine in terms of social trading. The CopyTrader and Smart Portfolios features allow new cryptocurrency traders to have exposure without actually having to pick, choose or monitor their own positions. The homepage features a Twitter-like “news feed” where traders can post, ask questions or just chat.

Charting: eToro offers a nice complement of charting tools on the web platform, including several chart types, over 60 studies and 12 drawing tools. Navigation here is a little deceptive, as you have to expand the chart to have access to these tools. From there, in the settings wheel you can launch “ProCharts,” which are the same charts in a different tab. You can also buy directly from the chart tab.

CopyTrader: The social trading aspect of eToro dominates, and the broker capitalizes on that with its CopyTrader tool. This allows you to copy other traders' portfolios. Using this feature is incredibly easy and has no fees or costs beyond the regular costs of the trades placed in that portion of the account. You choose the trader you want to copy (after viewing their track record), set an amount and hit the copy button. From there you can stop the copy at any point or even put in a stop loss order on the copy. There is a minimum of $200 to copy a trader.

Smart Portfolios: Smart Portfolios are eToro’s own cryptocurrency funds. They are offered at no fee, but do incur the costs of the trades within them. There are several variations, including one that is an index of the largest cryptocurrencies by market cap, another that is driven algorithmically by social media sentiment and another that just invests in the two largest, Bitcoin and Ethereum. There is a $500 minimum investment.

Research

There are “Research” and “News” tabs for most of the individual cryptocurrency, stock and ETF pages (these are only available to funded accounts). The research comes from TipRanks and includes analyst consensus, price target and ratings, as well as hedge fund activity and insider transactions. eToro also offers reports from The TIE, which offers social media sentiment analysis.

Feature eToro logoeToro
Research - Stocks Yes
Stock Research - ESG Yes
Stock Research - PDF Reports 0
Screener - Stocks No
Research - ETFs Yes
Screener - ETFs No
Research - Mutual Funds No
Screener - Mutual Funds No
Research - Pink Sheets / OTCBB No
Research - Bonds No

Education

eToro offers education in the form of its own eToro Academy as well as a News and Analysis page, a collection of news articles with a new article added every few days. The U.S. education is limited at this point, but additional resources are offered in other countries.

Learning center: eToro Academy is a collection of 16 guides and 11 videos, most of which cover crypto trading and its intricacies. There are informative articles for those new to cryptocurrency on topics such as “What is bitcoin?” and “Ethereum 2.0.” The articles overall are well-done and instructive, especially if you are new to crypto. The short videos cover related areas well.

Feature eToro logoeToro
Education (Stocks) Yes
Education (ETFs) No
Education (Options) No
Education (Mutual Funds) No
Education (Bonds) No
Education (Retirement) No
Paper Trading Yes
Videos Yes
Webinars No
Webinars (Archived) No
Progress Tracking No
Interactive Learning - Quizzes No
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Banking services

Banking in the U.S. is limited to the broker’s eToro Money crypto wallet, which is available in some states. This allows users to transfer crypto from the eToro platform, send and receive crypto from or to other wallets and convert from one cryptocurrency to another. While basic cash management is also offered in a handful of countries, including the U.K., it’s not yet available in the U.S.

Final thoughts

eToro sells itself as a “social investment network” and as such does a very good job, especially in the crypto space. It often feels more like a social media platform, but its CopyTrader and Smart Portfolio features allow traders to have access to crypto without needing to do all of their own research or constantly watch the markets.

Major limitations include limited offerings beyond cryptocurrency and the inability to short sell anything. There is the additional challenge that beginners may face in deciding which traders to copy. If you’re considering copy trading, you should consider looking beyond absolute returns at the risk score, the number of trades placed per week, and the average profit, loss and holding time for any traders you’re watching.

Is eToro good for investing?

eToro is a good place for those who are looking to jump into buying cryptocurrency and are seeking a community and resources to get exposure. With stocks and ETFs available at $0 commissions, eToro can be a good choice for those who prioritize a simple platform.

Is eToro good for beginners?

Yes, eToro is a good choice for beginners. Its platform is simple and easy to learn. The web platform and mobile app are virtually identical. Its CopyTrader and Smart Portfolio features allow beginners to get diversified exposure to cryptocurrencies without having to constantly watch the markets. While being good for beginners doesn’t mean that it is easy to make money, it is an easier platform to use compared to some of the competition.

Can you buy actual Bitcoin on eToro?

Yes, you can buy actual Bitcoin on eToro. Once you open and fund an account, you have access to a wide variety of cryptocurrencies or currency portfolios. Further, eToro offers fractional shares, so you do not have to buy one full Bitcoin to get exposure.

What is the downside to eToro?

There are a few catches with eToro. One potential issue for some is that you can’t sell shares short, you can only buy and sell. And while I was impressed with the speed of email from customer support, there are reports that direct contact can be difficult.

Can eToro make you rich?

Trading on eToro can be profitable, but as with any platform, and any form of trading, there is a significant risk of losing money in the markets. Never invest more than you are willing to lose.

About eToro

An early pioneer in social copy trading, eToro was founded in Israel in 2006 as a financial trading technology developer. Since launching its first product, it has grown to service over 26 million users with an innovative platform that continually evolves to be one of the largest social networks globally, with clients in over 100 countries. eToro expanded to the U.S. in 2018 and has since grown both its user base and its offerings. In August 2022, eToro signed an agreement to purchase Gatsby, an options trading platform.

Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. Please consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

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2022 Review Methodology

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For the StockBrokers.com 12th Annual Review published in January 2022, a total of 3,075 data points were collected over three months and used to score 15 top brokers. This makes StockBrokers.com home to the largest independent database on the web covering the online broker industry.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.

Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

eToro fees and features data

The data collection efforts at StockBrokers.com are unmatched in the industry. The following tables show a deeper dive into the offerings available at this broker. You can also compare its offerings side-by-side with those of other brokers using our Comparison Tool.

In addition to meticulous annual data collection by our in-house analyst, every broker that participates in our review is afforded the opportunity to complete an in-depth data profile. We then audit each data point to ensure its accuracy.

Trading fees

Feature eToro logoeToro
Minimum Deposit $10.00
Stock Trades $0.00
Mutual Fund Trade Fee N/A
Options (Base Fee) N/A
Options (Per Contract) N/A
Futures (Per Contract) N/A
Broker Assisted Trade Fee $0

Account fees

Feature eToro logoeToro
IRA Annual Fee N/A
IRA Closure Fee N/A
Account Transfer Out (Partial) N/A
Account Transfer Out (Full) N/A
Options Exercise Fee N/A
Options Assignment Fee N/A

Margin rates

Feature eToro logoeToro
Margin Rate Under $24,999.99 N/A
Margin Rate $25,000.00 to $49,999.99 N/A
Margin Rate $50,000.00 to $99,999.99 N/A
Margin Rate $100,000.00 to $249,999.99 N/A
Margin Rate $250,000.00 to $499,999.99 N/A
Margin Rate $500,000.00 to $999,999.99 N/A
Margin Rate Above $1,000,000.00 N/A

Investment options

Feature eToro logoeToro
Stock Trading Yes
Margin Trading No
Fractional Shares Yes
OTCBB / Pink Sheets No
Options Trading No
Complex Options Max Legs 0
Futures Trading No
Forex Trading No
Crypto Trading Yes
Crypto Trading - Total Coins 26
Mutual Funds (No Load) 0
Mutual Funds (Total) 0
Bonds (US Treasury) No
Bonds (Corporate) No
Bonds (Municipal) No
Advisor Services No
International Countries (Stocks) 0
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Order types

Feature eToro logoeToro
Order Type - Market Yes
Order Type - Limit No
Order Type - After Hours No
Order Type - Stop Yes
Order Type - Trailing Stop Yes
Order Type - OCO No
Order Type - OTO No
Order Type - Broker Assisted No

Beginners

Feature eToro logoeToro
Education (Stocks) Yes
Education (ETFs) No
Education (Options) No
Education (Mutual Funds) No
Education (Bonds) No
Education (Retirement) No
Retirement Calculator No
Investor Dictionary No
Paper Trading Yes
Videos Yes
Webinars No
Webinars (Archived) No
Progress Tracking No
Interactive Learning - Quizzes No
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Stock trading apps

Feature eToro logoeToro
iPhone App Yes
Android App Yes
Apple Watch App No
Trading - Stocks Yes
Trading - After-Hours No
Trading - Simple Options No
Trading - Complex Options No
Order Ticket RT Quotes Yes
Order Ticket SRT Quotes Yes

Stock app features

Feature eToro logoeToro
Market Movers (Top Gainers) Yes
Stream Live TV No
Videos on Demand No
Stock Alerts Yes
Option Chains Viewable No
Watch List (Real-time) Yes
Watch List (Streaming) Yes
Watch Lists - Create & Manage Yes
Watch Lists - Column Customization No
Watch Lists - Total Fields 7

Stock app charting

Feature eToro logoeToro
Charting - After-Hours No
Charting - Can Turn Horizontally No
Charting - Multiple Time Frames Yes
Charting - Technical Studies 5
Charting - Study Customizations Yes
Charting - Stock Comparisons No

Trading platforms overview

Feature eToro logoeToro
Active Trading Platform N/A
Desktop Trading Platform No
Desktop Platform (Mac) No
Web Trading Platform Yes
Paper Trading Yes
Trade Journal No
Watch Lists - Total Fields 7

Trading platform stock chart features

Feature eToro logoeToro
Charting - Adjust Trades on Chart No
Charting - Indicators / Studies 46
Charting - Drawing Tools 13
Charting - Notes Yes
Charting - Index Overlays Yes
Charting - Historical Trades No
Charting - Corporate Events No
Charting - Custom Date Range No
Charting - Custom Time Bars No
Charting - Automated Analysis No
Charting - Save Profiles Yes
Trade Ideas - Technical Analysis Yes
Charting - Study Customizations 5
Charting - Custom Studies No
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Day trading features

Feature eToro logoeToro
Streaming Time & Sales Yes
Streaming TV No
Direct Market Routing - Stocks No
Ladder Trading No
Trade Hot Keys No
Level 2 Quotes - Stocks No
Trade Ideas - Backtesting No
Trade Ideas - Backtesting Adv No
Short Locator No
Order Liquidity Rebates No

Investment research overview

Feature eToro logoeToro
Research - Stocks Yes
Research - ETFs Yes
Research - Mutual Funds No
Research - Pink Sheets / OTCBB No
Research - Bonds No
Screener - Stocks No
Screener - ETFs No
Screener - Mutual Funds No
Screener - Bonds No
Misc - Portfolio Allocation No

Stock research features

Feature eToro logoeToro
Stock Research - PDF Reports 0
Stock Research - Earnings Yes
Stock Research - Insiders Yes
Stock Research - Social Yes
Stock Research - News Yes
Stock Research - ESG Yes
Stock Research - SEC Filings Yes

ETF research features

Feature eToro logoeToro
ETFs - Strategy Overview Yes
ETF Fund Facts - Inception Date No
ETF Fund Facts - Expense Ratio No
ETF Fund Facts - Net Assets No
ETF Fund Facts - Total Holdings No
ETFs - Top 10 Holdings No
ETFs - Sector Exposure No
ETFs - Risk Analysis No
ETFs - Ratings Yes
ETFs - Morningstar StyleMap No
ETFs - PDF Reports No
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Mutual fund research features

Feature eToro logoeToro
Mutual Funds - Strategy Overview No
Mutual Funds - Performance Chart No
Mutual Funds - Performance Analysis No
Mutual Funds - Prospectus No
Mutual Funds - 3rd Party Ratings No
Mutual Funds - Fees Breakdown No
Mutual Funds - Top 10 Holdings No
Mutual Funds - Asset Allocation No
Mutual Funds - Sector Allocation No
Mutual Funds - Country Allocation No
Mutual Funds - StyleMap No
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Options trading overview

Feature eToro logoeToro
Option Chains - Basic View No
Option Chains - Strategy View No
Option Chains - Streaming No
Option Chains - Total Columns 0
Option Chains - Greeks 0
Option Chains - Quick Analysis No
Option Analysis - P&L Charts No
Option Probability Analysis No
Option Probability Analysis Adv No
Option Positions - Greeks No
Option Positions - Greeks Streaming No
Option Positions - Adv Analysis No
Option Positions - Rolling No
Option Positions - Grouping No
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Banking features

Feature eToro logoeToro
Bank (Member FDIC) No
Checking Accounts No
Savings Accounts No
Credit Cards No
Debit Cards No
Mortgage Loans No

Customer service options

Feature eToro logoeToro
Phone Support (Prospect Customers) No
Phone Support (Current Customers) No
Email Support Yes
Live Chat (Prospect Customers) Yes
Live Chat (Current Customers) Yes
24/7 Support No

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About the Author

Chris McKhann
Chris McKhann

Chris McKhann has been in the industry for more than 20 years. He has worked for many of the top names in the online trading space, including TD Ameritrade and optionMONSTER, which later became part of E*TRADE. His work has been cited in the Wall Street Journal, Reuters, the Financial Times, Forbes, CNBC, Nasdaq.com and Nikkei. He has also been an advisor and outside trader for several hedge funds. He was one of the first traders to delve into the VIX tradable products and to write about them (back in 2006). Chris is also an educator who teaches high school statistics, finance and computer science.


Carolyn Kimball
Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.


Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.


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