eToro
Monthly Fee
Minimum Deposit
Our Rating
APY Cash Account
eToro is a popular online trading platform known for its social trading feature, which allows users to copy the trades of experienced investors.
Founded in 2007, the platform has grown to serve over 30 million users worldwide, offering access to a variety of assets, including stocks, ETFs, options, and cryptocurrencies.
While eToro originally started as a forex trading platform, it has expanded significantly over the years, introducing features like CopyTrader and Smart Portfolios, which enable users to invest in themed portfolios managed by professionals.
The platform is designed to be beginner-friendly, with an intuitive web and mobile interface and a $100,000 virtual trading account for practice.
However, it has some downsides, such as withdrawal fees, limited customer support, and a lack of advanced trading tools.
How do I deposit money into my eToro account?
You can deposit funds into your eToro account using a debit card, bank transfer, PayPal, and other payment methods. The minimum deposit varies by region but is usually around $100.
Does eToro offer leverage or margin trading?
eToro offers leverage for some asset classes like stocks and commodities, but margin trading is not available in the U.S. for crypto assets. Be sure to check the platform for specific leverage limits based on your location and asset choice.
What are eToro’s fees for cryptocurrency transactions?
eToro charges a 1% fee for buying or selling cryptocurrencies. This fee is added to the bid-ask spread, which can vary depending on the asset.
Can I transfer my crypto to another wallet?
Yes, you can transfer your crypto from eToro to an eToro Money Wallet. However, you cannot transfer crypto back to the platform once it’s moved out, so be sure to manage your assets carefully.
Pros | Cons |
|---|---|
User-Friendly Interface | Limited Crypto Selection in the U.S. |
Zero-Commission Stock & ETF Trading | Withdrawal Fees |
Social Trading Features | Limited Advanced Trading Tools |
Virtual Trading Account | High Non-Trading Fees |
Wide Asset Selection | |
Regulated & Secure |
Is eToro Available In The US?
Yes, eToro is available in the U.S., but with some limitations:
- Limited Cryptocurrencies: U.S. users can only trade Bitcoin, Ethereum, and Bitcoin Cash, which is fewer than the options available internationally.
- No Crypto-to-Crypto Trading: U.S. users cannot swap one cryptocurrency for another directly on the platform.
- No Margin Trading for Crypto: Leverage or margin trading is not available for cryptocurrencies in the U.S.
- Restricted in Some States: eToro is not available for cryptocurrency trading in Hawaii, Nevada, and New York.
Which Assets Can Be Traded With eToro?
eToro users can trade a variety of assets, including:
- Stocks: Over 3,500 stocks from major global markets, including the U.S., UK, Europe, and more.
- ETFs: Over 290 ETFs that cover various industries and sectors.
- Cryptocurrencies: Popular cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash, as well as many others (depending on your location).
- Commodities: Precious metals like gold and silver, as well as oil and other natural resources.
- Forex: 55+ currency pairs, including major currencies like EUR/USD and GBP/USD.
- Options: Options trading on a variety of assets such as stocks, providing additional strategies for traders.
- Indices: Trading in global indices, such as the S&P 500 and NASDAQ.
eToro Features I Mostly Liked
Here are the key features that I found most appealing in eToro:
-
Copy Top Traders with One Click
eToro’s CopyTrader feature allows users to automatically copy the trades of experienced investors. This is ideal for beginners who want to invest but lack the time or knowledge to research the markets.
Simply browse through thousands of traders, check their performance history, and choose one to copy. Once selected, your account will mirror their trades in real time.
You can start copying a trader with as little as $200, and if needed, you can stop or adjust your investment at any time.
The best part? There are no extra fees for using CopyTrader—users just pay the regular trading fees.
This feature makes investing easier and more engaging, giving beginners access to professional strategies without requiring deep financial expertise.
-
Pre-Built Portfolios: Let AI Build Your Investment Strategy
eToro’s Smart Portfolios (formerly CopyPortfolios) offer a way to invest in diversified, pre-built portfolios designed around specific themes or industries.
Instead of picking individual stocks or assets, you can invest in a carefully selected group of companies, cryptos, or ETFs.
These portfolios are managed by eToro’s investment team, who regularly adjust the holdings to maintain balance and optimize performance.
There are different types of Smart Portfolios, such as those focused on tech stocks, renewable energy, or top-performing crypto assets.
The minimum investment is $500, making it accessible for many investors.
-
Understanding eToro’s Fee Structure
eToro has a transparent fee structure, but it’s important to understand the costs involved. Here are the main fees on eToro:
- Cryptocurrency Transactions: 1% fee added to the bid-ask spread for buying or selling crypto.
- Stock & ETF Trading: Commission-free, but currency conversion fees may apply for non-USD deposits.
- Withdrawal Fee: $5 fee for withdrawing funds.
- Inactivity Fee: $10 per month after 12 months of no trading activity.
- Currency Conversion Fee: 1.5% for transactions in non-USD currencies.
- Overnight Fees: Charges for leveraged positions held overnight, depending on the asset
-
Zero-Commission And Fractional Shares
One of eToro’s biggest advantages is its zero-commission stock and ETF trading. With access to over 3,500 stocks and 290+ ETFs, eToro provides a cost-effective way to invest in the stock market.
eToro allows users to buy fractional shares, meaning you don’t need to purchase a full share of a company to invest.
This feature is especially useful for high-priced stocks like Amazon or Tesla, where a single share can cost hundreds or even thousands of dollars.
With as little as $10, investors can buy a portion of a stock and still benefit from its potential price movements.
-
Virtual Trading: Practice with $100,000 Play Money
New to investing? eToro’s Virtual Trading Account gives every user $100,000 in demo funds to practice trading before risking real money.
This feature allows users to test strategies, explore the platform, and understand market movements in a risk-free environment.
With virtual trading, you can practice buying and selling stocks, ETFs, and cryptocurrencies just as you would in a real account.
This is particularly useful for beginners or those wanting to experiment with new investment strategies before committing real funds.
-
eToro Money Wallet: Secure Crypto Storage
For cryptocurrency traders, eToro Money Wallet is a built-in digital wallet that allows users to store, send, and receive crypto assets securely.
Unlike keeping crypto on the trading platform, the wallet provides an extra layer of security and allows users to transfer crypto off the eToro exchange.
However, one major limitation is that once you transfer crypto from eToro to the wallet, you can’t transfer it back—you’d have to sell it and repurchase if needed.
Additionally, there is a 2% withdrawal fee for transferring Bitcoin (BTC) to an external wallet.
-
eToro Club: Exclusive Perks for Active Investors
eToro Club is a loyalty program that offers exclusive benefits based on your account balance.
There are five membership levels: Silver, Gold, Platinum, Platinum+, and Diamond. Each level unlocks new perks, including market research reports, dedicated account managers, lower fees, and even invitations to special events.
For example, Platinum members (with over $25,000 in assets) receive a free subscription to the Wall Street Journal, while Diamond members (over $250,000) get invitations to private events and live webinars with financial experts.
Higher-tier members can also avoid some withdrawal fees and gain access to premium investment tools.
-
eToro High-Interest Cash Program
eToro offers an interest-earning program for users who hold cash in their trading accounts.
Depending on your account balance, you can earn up to 4.30% APY on your uninvested cash.
The interest rates vary by membership tier, with Diamond members earning the highest percentage. To qualify, users must opt in to the program through their eToro account.
-
Deposit and Withdrawals on eToro
Users can deposit funds using debit cards, bank transfers, PayPal, and more, with the minimum deposit generally being $100.
Withdrawals can take 1-3 business days depending on the method.
For crypto traders, eToro offers the eToro Money Wallet, where users can store and transfer cryptocurrencies.
When eToro May Be a Good Choice? When Not?
As with any financial platform, eToro isn’t the perfect fit for everyone.
Here’s a look at who might find eToro a better choice and who might want to consider other options
When eToro May Be a Good Choice | Who Should Look Elsewhere |
|---|---|
Beginner Investors | Active Traders Needing Advanced Tools |
Crypto Enthusiasts in the U.S. | Crypto Traders Looking for a Larger Selection |
Social and Copy Traders | Investors Seeking Margin Trading |
Investors Interested in Pre Built Portfolios | Frequent Withdrawers |
4 Simple Steps to Set Up the eToro Account
Let's see the main steps when setting up an account with eToro:
-
1. Create Your eToro Account
To get started with eToro, visit their website and click on “Sign Up.” You'll be asked to enter your email address, username, and a password.
Make sure to use a valid email, as eToro will send you a confirmation link. Once you’ve filled out this basic information, click “Join Now” to proceed.
Our tips:
🔹 Choose a strong password, ideally using a mix of letters, numbers, and symbols
🔹 Check for regional availability – eToro operates in many countries, but not all services are available everywhere.
-
2. Verify Your Identity
After creating your account, eToro will ask for identity verification to comply with regulatory requirements.
You’ll need to provide a government-issued ID (such as a passport or driver’s license) and a proof of address (like a utility bill or bank statement).
Upload these documents through eToro’s secure portal. The verification process can take up to 1-3 days, so plan accordingly.
Our tips:
🔹 Ensure the documents are clear and up-to-date to avoid delays.
🔹 If you're in a hurry, use the mobile app to upload documents quickly and easily.
-
3. Fund Your Account
Once your identity is verified, you can deposit funds into your eToro account.
You’ll need to select your preferred payment method, such as debit card, bank transfer, or PayPal.
eToro requires a minimum deposit of $100 (depending on your region).
Our tips:
🔹 Choose a payment method that is fast and convenient for you—debit cards tend to be the quickest.
🔹 Be aware of deposit fees—some payment methods may incur additional costs.
🔹Double-check your region's deposit minimums, as they can vary based on local regulations.
-
4. Start Trading or Practice with Virtual Money
Now that your account is funded, you can either start trading real assets or practice with eToro’s $100,000 virtual trading account.
The demo account allows you to get comfortable with the platform before risking real money.
Our tips:
🔹 Use the demo account to understand eToro’s features, especially if you're new to investing.
🔹 Explore eToro’s CopyTrader feature, where you can start copying successful traders with just a few clicks.
🔹 Keep track of market trends and news to make informed trading decisions once you transition to real money.
FAQ
Yes, eToro is a regulated broker in many countries and uses advanced security measures, such as two-factor authentication and cold storage for crypto. However, as with any investment, there are inherent risks, especially with volatile assets like cryptocurrencies.
Withdrawal times can vary, but typically, it takes 1-3 business days for eToro to process your withdrawal request. The exact time depends on your chosen payment method (e.g., bank transfers may take longer).
Yes, eToro offers email support, a help center, and live chat for users. However, phone support is available only for higher-tier eToro Club members.
eToro currently does not offer retirement accounts such as IRAs. The platform is more suitable for individual taxable accounts and general investing, but you may want to look elsewhere for tax-advantaged retirement investing options.
Review Brokerage Accounts
How We Rated Brokerage Accounts: Review Methodology
At The Smart Investor, we evaluated brokerage account platforms based on their overall value, features, and user experience compared to other leading alternatives. Our hands-on testing focused on key factors that matter most to investors, including fees, trading tools, investment options, and security. Each platform was rated based on the following criteria:
- Fees & Commissions (20%): We prioritized commission-free trading and low-margin rates. The best platforms had zero hidden fees, while others charged for inactivity or withdrawals.
- User Experience & Interface (20%): A clean, easy-to-navigate platform with smooth execution scored highest. Some apps felt outdated or laggy, impacting the experience.
- Trading Tools & Features (30%): We favored platforms with real-time data, smart order types, and special features that support smart investing. Some lacked depth, making it harder for active traders.
- Automated Investing (10%) : The best platforms offered AI-driven portfolios, robo-advisors, and automatic rebalancing. Some lacked automation or charged high fees for managed accounts.
- Investment Options (10%): Platforms with stocks, ETFs, options, crypto, and fractional shares scored highest. A few lacked key asset classes or international access.
- Account Types (5%): The best platforms supported taxable accounts, IRAs, and custodial options. Some lacked flexibility, limiting investment strategies.
- Cash Management & Banking Features (5%): We favored platforms with high-interest cash accounts, debit cards, and seamless banking. Many lacked competitive rates or useful features.
