eToro is one of the forerunners in the nische social trading. With a focus on CFDs and cryptocurrencies, they make is super easy to engage in social trading. You can follow and copy other traders, and let traders follow and copy you. If you qualify as a Popular Trader (conditions apply), you can start earning special perks from eToro.
Another popular social feature at eToro is a the opportunity to copy existing investment portfolios instead of making your own from scratch.
- The minimum deposit to start trading with real money at eToro is 200 USD. (Special rules apply for traders within the United States.)
- To qualify for the Popular Trader program, you need to deposit at least 1,000 USD. (And fullfill a set of other requirements. For more info, visit eToro.)
There are two account types here. Standard Account is used for real-money trading and Demo Account is for play-money trading. The Demo Account is a great way of exploring the platform before making your first deposit.
The trading platform
eToro utilizes a bespoke trading platform named Webtrader. It is famous for its many tools and solutions for social trading.
- You can download webtrader to your computer
- You can use webtrader directly in your web browser
- There is a Webtrader mobile app for iSO
- Ther is a Webtrader mobile app for Android
Contracts for Difference (CFDs)
There is a huge selection of CFDs available at eToro. You can use them to gain exposure to things such as share prices, Exchange Traded Funds, FX currency, cryptocurrency, and commodities. Some of the CFDs are based on indices (indexes).
You can use CFDs to gain exposure to cryptocurrencies at eToro, but you can also buy and sell cryptocurrencies directly in your eToro cryptocurrency e-wallet app for mobile devices.
This cryptocurrency e-wallet can be used for things such as:
- Convert cryptocurrency to fiat currency
- Convert fiat currency to cryptocurrency
- Store cryptocurrency
Examples of accepted cryptocurrencies are Bitcoin, Bitcoin cash, Ethereum and Litecoin.
There is one app for Android and another one for iOS. Both work well on smartphones and surf pads.
eToro offers leveraged trades (max 1:30).
eToro supports techinical analysis and provides tools for charting and more. A lot of historical market data will be made available to you.
eToro customer support
The customer support leaves a lot to wish for when it comes to opening hours, since it is closed during weekends. It is open around the clock during weekdays, though, which is a plus.
You can reach the support by sending an email through the form at the eToro site.
Deposits & Withdrawals
Examples of accepted transaction methods at eToro are Bank Wire Transfer, VISA, MasterCard and Diners, as well as e-wallets such as PayPal, Neteller, Skrill and WebMoney. There is also Yandex (chiefly for the Russian speaking market) and China Union Pay.
Smallest deposit: 50 USD in the United States, 200 USD outside the United States
Smallest withdrawal: Depends on your transaction method
Withdrawal time: eToro typically needs at least 3 bank days to process a withdrawal request
Withdrawal fee charged by eToro: 5 USD per withdrawal
A currency conversion can add a conversion fee.
The net broker eToro wad founded in Israel in the 00s. Today, the company has offices and subsidiaries in other parts of the world as well, to provide traders with legal trading that adheres to local laws and legal frameworks.