eToro Review UK – Is It the Best Trading Platform for You?

What’s in this eToro Review?

This article will cover many aspects of eToro to help you understand the brand better. We will address areas such as eToro’s products and features, trading tools and charts, its fees, cryptocurrency offerings, stocks, and mobile apps.

We will take a look at the brand’s standing in the UK market and user reviews on platforms like Trustpilot. We will also provide you with an unbiased and detailed evaluation of the eToro trading platform.

Finally, we will compare eToro to other leading trading platforms, discuss its CopyTrading and Smart Portfolios offering, and explore alternative platforms that you may want to consider.

How to decide if eToro is right for you?

Below, we have put together a unique perspective on the different types of products and features that eToro provides to prospective customers.

The table below covers everything from some of the basic features designed for beginner investors and traders, such as the eToro Academy, demo accounts and the social investing platform. It also covers features like their proprietary manual charting software that has been designed from the ground-up for more adept traders.

Let’s delve into the key aspects of eToro to help you make an informed decision…

Feature	Description
eToro academy	eToro has provided a wealth of information in an education platform that will empower prospective investors/traders with all the knowledge they need to become more proficient and profitable.
Demo Account	eToro provides a free $100,000 demo account so you can practice in real-time with real market conditions without risking a penny of your capital.
Social trading	Interact and communicate with like-minded individuals who are interested in trading and investing. Access the eToro community that has over 30 million users.
Copy trading	Copy professional traders by investing or trading when they make their moves.
Protecting your funds & personal information	Your capital is protected in the unlikely event that eToro ever became insolvent. eToro also employs the highest standards of cyber security to protect your personal information. They are also regulated by several of the world’s major authorities, including FCA (UK), ASIC (Australia), CySec (Cyprus), GFSC (Gibraltar), FinCen and FINRA (United States).
Multi-assets platform	The eToro platform provides trading and investing opportunities for over 3,000 assets that include stocks, cryptocurrencies, ETFs, indices, currencies, and commodities. These assets can be traded with or without leverage, offering a wide range of investment possibilities for short, medium, and long-term strategies.
eToro plus	Deep market analysis provided by experts. You can read daily, weekly and quarterly summaries and find new market trends with eToro Plus.
eToro club	The eToro Club is a loyalty program with five tiers, offering its members premium benefits and exclusive features. Higher tiers grant access to more offers.
Commission-Free Trading Does not apply to short or leveraged positions	eToro offers 0% commission for long, non-leveraged positions on stocks and ETFs, with no hidden fees. The platform provides competitive spreads for other assets, including as low as 1 pip on top Forex pairs.
Investment insurance Only free to Platinum & Diamond Club customers in Europe and Australia	Free investment insurance of up to 1mil Euros/AUD. eToro offers free insurance from Lloyd’s of London for eligible Platinum+ and Diamond Club customers in case of eToro’s insolvency or an Event of Misconduct. This protection is available for clients of eToro (Europe) Ltd. and eToro AUS Capital Limited.
eToro money	The eToro Money account links with your eToro investment account, enabling free, instant deposits without conversion fees and quick withdrawals. No subscription or hidden costs apply. This integration allows for fee-free, instant deposits, saving up to £15 per £1000 deposited. They also provide you with your own eToro debit card.
Professional manual charting software	All of the most popular indicators are provided by eToro, as well as their proprietary ‘ProCharts tool’. The ProCharts Tool Allows traders to compare several instruments at the same time or the same instrument whilst using different parameters like separate timeframes.
Investing in Cryptoassets	Develop your ideal crypto portfolio by investing in a diverse range of top cryptocurrencies. Utilize advanced charts and analysis tools to track trends, create custom watchlists for real-time updates, and use the staking service to grow your crypto holdings while you HODL.
CFD trading platform	Includes stop-loss and take-profit alerts with leveraged trading of up to 30x.
Fractional shares	Allows investors to access more expensive shares that may have otherwise been prohibitively expensive.
Popular investor program	Receive extra income, benefits, and incentives by being copied by other eToro users. Become a prominent eToro investor, earn recognition, and enhance your reputation by sharing your knowledge with others.
eToro Earnings Report Calendar	Find the top upcoming earnings reports. Earnings reports are important since they are a key indicator of a company’s overall health and financial success. They can also disclose relevant information, such as revenue forecasts, expected sales numbers and other data which existing and potential investors may find helpful.
ESG scoring	Make better investment decisions and review a firm’s sustainability through eToro’s ESG scoring system. ESG ratings offer valuable perspectives for investors to assess Environmental, Social, and Governance-related risks and opportunities.
	Take Me to eToro

eToro Pros and Cons

Who should consider eToro?

eToro can be used by traders who are looking for an easy-to-use trading platform that offers social investing features and a world-class APP.

Etoro’s copy-trading feature is a notable aspect of the platform, allowing you to connect with other traders, follow their strategies, and learn from their experiences. This makes it a great choice for traders who want to build a diverse portfolio and benefit from other traders’ collective knowledge and experience.

Another great feature of eToro is its wide range of assets, including stocks, cryptocurrencies, commodities, and more.

Who should not apply for an eToro account?

Below, is an extensive list of the countries that are currently blocked from gaining access to eToro due to regulatory is sanction reasons. Please note, eToro can also not provide access to any US citizen that resides outside of the USA.

Is eToro good for beginners?

Etoro is one of the most user-friendly trading platforms out there. It’s extremely easy to use, with a clean and intuitive interface that makes it straightforward to trade, view your portfolio, and research new trades.

One of the standout features of Etoro is its social trading capabilities. You can connect with other traders, follow their methods, and learn from their experiences, which is perfect for beginners who are just starting out.

eToro’s Academy is an education platform that has a wealth of information to learn everything you will need to become a proficient trader or investor which is another useful feature for beginners.

It’s always great to have a network of experienced traders to turn to for direction and advice. It makes the journey of learning and growing as a trader so much easier and more enjoyable.

So, if you’re a novice looking for a platform that’s easy to use, offers a wide range of assets, and has a supportive community of traders, then Etoro is definitely worth considering. Get started today and take the first steps on your trading journey!

eToro’s fees, commissions and charges

We have collated an easy-to-understand table, below, to help you get to grips with how eToro charge for different assets as well as the additional fees that may apply.

eToro is a market-maker broker (meaning that the company acts as both the buyer and seller in its customers’ trades rather than connecting them with other buyers and sellers in the market).

In addition to the fees listed below, dividends may be credited or debited from your available balance. This means that you may receive or be charged additional fees related to the dividends on your investments.

It is also important to note that fees may be associated with transferring crypto and using the eToro Money wallet service.

Fee Type	Amount	Details
CFD on Commodities (e.g. OIL, Gold)	Starting from 2 pips	Users pay a spread (the difference between Buy and Sell prices) and this starts from 2pips, plus overnight fees for positions open after trading hours. Triple fees apply to commodities positions open on Fridays.
CFD on Currencies (e.g. EURUSD, GBPUSD)	Starting from 1 pip	Charges for the spread generally start from 1 pip, upwards and overnight fees for positions open after trading hours. Triple fees apply to currency positions open on Wednesdays.
CFD on Indices (e.g. SPX500, NSDQ100)	Starting from 0.75 points	Users pay a spread and overnight fees for positions open after trading hours. Triple fees apply to index positions open on Fridays.
CFD on Stocks & ETFs (e.g., AIG, AAPL)	0.15%	Their fee is listed as 0.15%. Users pay the spread and overnight fees for positions open after trading hours. Triple fees apply to stocks and ETFs positions open on Fridays.
CFD on Cryptoassets (e.g., BTC, XRP)	1% + CFD-related charges	Users pay the same fees as non-CFD crypto fees, plus any additional CFD-related charges.
CopyTrader	No additional fees	There are no extra fees or hidden costs, but spreads and overnight fees may apply to each opened copied position.
CopyPortfolios	No additional fees	No management fees or commissions are charged, except for those associated with the assets within each portfolio. Stock portfolios are free of commission.
Non-CFD Cryptoassets (e.g., BTC, XRP)	1%	eToro charges a single, simple and transparent fee of 1% for buying or selling crypto.
Zero % Commission Stocks/ETFs Fees (e.g., Apple Inc.)	✖	No added commission is charged and no overnight fees apply. Each transaction is subject to a market spread.
Conversion fees		These fees vary and are used for wires and other payment methods
Deposit fee	0.5% on non-USD deposits	A fee to cover the conversion to USD
Withdrawal fee	$5	A fee for cash withdrawals, the minimum withdrawal is $30
Inactivity fee	$10 per month	Charged after 12 months of inactivity with cash in the account
Overnight fees	Varies	A small fee for keeping CFD positions open overnight, 3 times more if open over the weekend. No overnight fees on crypto.
Leverage fee	Varies	The higher fee for using leverage (trading with more money than you have)
		Visit eToro

Trading jargon: ‘Pips’ and ‘points’ explained

A pip (percentage in point) is a unit of measurement used in trading to express the change in value between two currencies. In most currency pairs, a pip is equivalent to a one-point change in the fourth decimal place (0.0001) of the exchange rate.

Example: If the EUR/USD currency pair moves from 1.1000 to 1.1001, that 0.0001 increase represents a one-pip change.

A point, on the other hand, refers to the smallest price movement in any financial market, such as stocks, indices, or futures. It can have different meanings depending on the context and the asset being traded. In the stock market, a point typically represents a one-unit change in the price of a stock or index.

Example: If the price of a stock increases from $100 to $101, it has moved up by one point.

What can you invest in with eToro?

We have collated the information of the most popular assets that eToro’s customers invest in and trade, so you can see whether your desired asset is available within their platform:

Asset Type	Availability with eToro
Stocks	✔
Cryptocurrency	✔
Indices	✔
Commodities	✔
Currencies (FOREX)	✔
ETFs (Exchange-traded funds)	✔
NFTs (Non-fungible tokens)	✔
	Visit eToro

More information on the types of assets you can invest in

You can trade over 30,000 stocks on eToro, easily finding them via a search box or simply browsing by sector or exchange. They also offer stocks-based portfolios curated by leading eToro analysts. These are great ways to follow market trends which interest you without paying portfolio management fees.

eToro offers a range of ETFs that track various markets and industries.

When trading forex on eToro, you are not directly buying or selling physical currencies. Instead, you trade Contracts for Difference (CFDs). These derivatives allow you to speculate on the price movements of currency pairs without owning the underlying currencies themselves. You’ll find about 50 currency pairs on eToro.

It is worth noting that eToro’s forex fees are high compared to some competitors which will put some off. But if you want to follow other forex traders via the platforms’ Copy Trading functionality, you can copy top traders positions automatically.

The maximum leverage that eToro offers is currently x30 for major currency pairs.

eToro offers trading in commodities such as gold, oil, and more.

You can trade major indices, such as the S&P 500 and the NASDAQ, as well as regional indices from around the world.

eToro offers a reasonable range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and more.

What formats of trading are available with eToro?

eToro provide contracts for difference (CFDs), however, they only provide Options to US customers and they do not provide spread betting in their platform.

Trading Type	Availability with eToro
CFDs	✔
Options (USA only)	✖
Spread Betting	✖

What is eToro and How does it work?

eToro is a leading online trading and investing platform that boasts 30 million users from over 140 countries worldwide.

eToro allows prospective investors and traders to access 5,000 instruments across 3,000 tradeable assets, including currencies (forex), stocks, commodities, crypto assets, indices and exchange-traded securities. eToro offers a comprehensive experience in the trading and investing space whilst utilising contracts for difference (CFDs) and caters to a wide range of needs. But is it right for you?

Financials

Globally, eToro experienced its best year ever in 2021, executing 550 million trades which represents a 69% increase from the previous year. The platform also generated $1.2 billion in commissions in 2021, marking a year-on-year growth of 105%.

eToro (UK) Limited: As a subsidiary of eToro, the firm achieved a net income of $264.2 million in 2021, representing a significant increase of 531% from $41.9 million in 2020. To support this impressive growth in the UK market, the firm has reflected the increase in their cost base for operating expenses, which rose from $39.8 million in 2020 to $258.0 million.

Demographics and community

The median age of eToro’s global users is 35 and 86% of the community is male worldwide. Nonetheless, eToro is dedicating significant resources to increase the number of female users by launching a community called #InvestWithHer, which is created and led by women, for women.

On 5th July 2022, eToro Group declared that it would no longer finalise the SPAC (Special Purpose Acquisition Company) deal with FinTech Acquisition Corp. V, which had been announced earlier. eToro cited the circumstances at that time, which led to the decision that completing the merger would not benefit the company. Consequently, eToro opted to terminate the merger agreement and maintain its status as a private enterprise for the foreseeable future.

eToro Group has a robust balance sheet that allows it to keep investing in its products and pursue its growth strategy. The company has demonstrated its resilience to several market cycles and adverse conditions in the past, including bear markets and periods of low cryptocurrency activity, referred to as ‘crypto winters.’

With its diverse range of products, extensive global reach, and strong social features, eToro Group has established a solid foundation that positions it well for further expansion in the years ahead.

A little background on eToro

Founded in Israel by Yoni Assia, Ronen Assia, and David Ring, eToro started as a simple trading platform and has evolved into a global fintech company. Over the years, eToro has expanded its product offerings and geographical presence, now catering to clients in more than 100 countries. The platform initially focused on forex trading but has since diversified its offerings to include various asset classes and innovative features.

Getting Started on eToro

We have summed-up the eToro setup process into 9 steps to get you started, below.

9 steps to register an account with eToro

1. Visit www.eToro.com and click ‘Start Investing’, ‘Join Now’ or ‘Trade Now.’
2. Access the electronic form for entering personal data.
3. Fill in the required information; Facebook or Gmail logins are optional.
4. Review eToro’s Terms & Conditions and privacy policy.
5. Agree to the terms by checking the appropriate box.
6. Click “sign-up” to submit your information.
7. Begin the KYC (Know Your Customer) process as per EU regulations.
8. Provide Confirmation of Residence and Proof of Identity for KYC.
9. Complete a questionnaire to help eToro tailor services to your profile, including investment goals and risk tolerance.

Getting started on eToro is as simple as users providing an email address, choosing a username, and creating a password. To fully unlock the platform’s features and comply with regulatory requirements, you’ll then need to complete the account verification process, which involves providing personal information, such as name, date of birth, and address, as well as uploading proof of identity.

What is eToro’s minimum deposit amount?

Country	Minimum First Deposit
United States	US $10
Australia, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Germany, Greece, Guernsey, Hungary, Indonesia, Ireland, Italy, Latvia, Liechtenstein, Malaysia, Malta, Netherlands, Norway, Philippines, Portugal, Singapore, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, Vatican City, Vietnam, United Kingdom	US $50
Belgium, Czech Republic, France (including French Guiana, Guadeloupe, Martinique, Mayotte), Luxembourg, Monaco, Poland, Romania, Slovakia, Slovenia	US $100
All other eligible countries	US $200
Cayman Islands, French Polynesia, Gibraltar, Isle Of Man, Jersey Island, Kuwait, New Zealand, Reunion Island	US $1,000
Israel	US $10,000

Please note that these requirements apply to personal accounts. For corporate accounts, the minimum first deposit amounts differ.

eToro demo account

As a new user on eToro, you have the option to create a demo account, which provides you with virtual funds to practice trading and investing without risking real money. This is an excellent way to familiarize yourself with the platform’s features, test your trading strategies, and gain confidence before diving into real trading. To access the demo account, simply log in to your eToro account and switch to the “Virtual Portfolio” mode.

eToro UK security and safety

eToro is considered a safe broker for trading forex and CFDs. As soon as your money enters eToro it is placed in a separate account so that it is protected in the unlikely event if the firm was to become insolvent.

eToro is regulated by tier-1 and tier-2 financial authorities, including the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), providing extra security for traders. Aside from the FCA and ASIC, eToro is also regulated by CySec (Cyprus), GFSC (Gibraltar), FinCen and FINRA (United States). So, they are pretty heavily regulated across all countries and this makes them one of the safer choices in this space.

While FCA protection only covers you up to £85,000, eToro offers additional indemnity insurance of up to EUR 1 million per client, providing traders with added peace of mind.

Crypto Security – When it comes to protecting your crypto assets on eToro, they take things very seriously. They use a two-pronged approach by storing some of your assets in a “warm” online wallet and some in a “cold” offline wallet. This way, even if an eToro employee were to attempt to transfer funds, they wouldn’t be able to access the offline assets. And to keep you extra secure, eToro has top-notch monitoring systems in place to catch any shady activity, such as money laundering or double-spending.

Security Protocols – eToro employs advanced encryption technologies and robust security protocols to safeguard users’ data and transactions. Additionally, the platform uses two-factor authentication (2FA) for added account security, ensuring that only you can access your account.

eToro’s CopyTrading and Smart Portfolios

One of eToro’s standout features is its social trading capabilities, which allow you to follow and copy the trades of successful traders on the platform.

CopyTrading enables you to automatically replicate the trading activity of your chosen ‘Popular Investors’.

Smart Portfolios are investment portfolios created by eToro analysts, which are characterised by their innovative nature and long-term focus. These portfolios have their own distinct investment strategies and offer a diversified and convenient means of accessing major market trends that are currently shaping our world. Unlike traditional portfolio management options, Smart Portfolios do not require payment of any management fees.

Both options offer a way to diversify your investments and potentially benefit from the expertise of experienced traders.

What’s the eToro app like?

Etoro offers two different mobile apps for its users: the Etoro Money app and the Etoro Investing app.

The Etoro Money app is designed for managing and using funds on the Etoro platform.

The Etoro Investing app, on the other hand, is designed for trading and investing.

The user experience of both Etoro apps is excellent, with a clean and user-friendly interface that is easy to navigate. We rate their APPS as the best in the business, with a clear and concise layout that makes it easy to access the various trading tools and features. Additionally, the Etoro apps offer a high level of customization, allowing users to tailor the app to their specific needs and preferences

How good is eToro’s customer service?

eToro’s live chat is available 24 hours daily, from Monday to Friday. You can also submit a ticket to their Customer Service Center: eToro promises to get back to you within 48 business hours to the email address registered on your account.

Lastly, if you’re an eToro Club member at the Platinum level or above, you have the added convenience of communicating directly with your account manager via WhatsApp.

Some users report longer than average wait times, especially in the lower club tiers. Some users report a 7-day response time instead of the promised 2 days, and the live chat can be unresponsive.

What are the customer reviews like for eToro?

Etoro has an excellent rating on Trustpilot, with a 4.3-star average from over 19,000 reviews.

61% of users gave it 5 stars, while 23% gave it only 1 star.

Positive reviews speak of ‘no hidden costs’, ‘easy to use and intuitive’ and even additional benefits of a ‘dedicated UK account manager’. Quite a number of reviews mention being invited to special events such as seeing Ed Sheeran at the O2 arena and say things like ‘eToro takes care of its customers’.

Some of the one-star reviews criticised the lack of a UK-based phone line, unresponsive chat service, and being stopped out of trades without warning.

eToro alternatives

If you’re attracted to eToro for the copy trading, you should consider platforms like NAGA or AvaTrade.

For the commission-free aspect of eToro, we think Trading 212 is the best alternative, offering even lower costs.

Read our full article on eToro vs Trading 212

eToro review summary: Should You use eToro?

Overall, eToro is a platform with a huge user base (30 million users) and complex functionality over multiple asset classes. It’s a proper trading platform and, therefore, less suitable for someone who just wants to buy and hold investments over the long term.

It’s secure, user-friendly and has a competitive fee structure. It requires only a £50 minimum deposit which is lower than many brokers and also allows fractional shares, which can be useful for beginner investors.

eToro is also the originator of ‘copy-trading’, which allows you to copy experienced investors’ trades or share their trading strategies and earn rewards. The brand’s social trading feature sets it apart from competitors, providing a USP that allows users to chat, share ideas, or even make money from the platform based on other profitable investors. As you’d imagine, this feature has become very popular with new and experienced investors, alike and can be seen clearly from the reviews.

Although the fees may be marginally higher, in some areas, than the cheapest platforms, the ease of use, accessibility, and educational resources makes it an excellent choice for both beginner and experienced traders.

The main downside of eToro is the lack of an ISA or SIPP wrapper, which can be useful for UK investors.

NB: Please note that trading with Contracts for Difference (CFD) products carries a high level of risk to your capital and is not suitable for everyone. You should only trade with money you can afford to lose and ensure you fully understand the risks involved.

eToro FAQs