eToro: broker reviews in 2021

eToro it is a financial broker that offers its services to more than 4 million users in more than 140 countries , a good sign that we are not dealing with a fraud but with a legit company. In any case, we invite you to read the full review so that you can make your own decision.

The eToro broker is a private company founded in 2007 by the brothers Yoni and Ronen Assia and David Ring and is currently one of the social trading most popular and reliable. It is an online broker that provides financial services which are suitable for both expert users and new ones without any experience.

On this platform you can investing in CFDs of stocks, ETFs, indices, commodities, currencies and cryptocurrencies , but with the great particularity of having the functionalities of a social network focused on investment, so that you can see, follow and even copy the investments of other traders.

As for security, it offers you good guarantees to deposit and invest in eToro through its platform. Such guarantees derive from their registration with the Securities and Exchange Commission and Cyprus Stock Exchange (CySEC), which means that the company must comply with the obligations stipulated in all dollar regulations.

Our experience with the eToro broker

How does it work? The truth is that in our opinions about eToro, trying this broker is a very interesting experience thanks to the demo account available for new users . In this way those who have no experience with online investments can learn to do it without risking the money in their bank account.

This is not an ordinary CFD broker, but a social trading platform . On this platform, users share how to invest money online in such a way that other users can imitate and copy their strategies and benefit from the knowledge of the most experienced.

Finally eToro offers the opportunity to earn extra money to all those who want to share their investments. In this way, the platform incentivizes successful investors to participate in the community., with the added attraction that in this online investment platform all of this can be automated.

In fact, it is striking that eToro's commissions are slightly higher than those of its competitors, and yet it has a large number of loyal users. Why? No doubt due to the originality of your business model .

Therefore, it is not strange to think that if you still do not have much experience or knowledge about investing in CFDs, this company offers you a website that, without a doubt, can help you a lot to take the first steps taking other investors as an example .

We have also had the opportunity to check that eToro is a platform that leaves no room for doubt in terms of security. Those who entered a Estafa.info , wondering if it was a scam, you can rest assured that it is not so. In fact, in the following section we will explain conscientiously why we dare to affirm this fact.

eToro: Scam or legit?

Most of our users enter the web wondering if a certain online broker is a scam. As we have already mentioned in the case of this entity, this is not the case. eToro, is a company registered in Cyprus that complies with Cypriot and Dollarpean regulations . You can read more about this in the “eToro Security and Regulations” section.

In addition to complying with the legislation, the eToro broker guarantees the care of users' funds having become a member of the Investor Compensation Fund for Customers of Cypriot Investment Firms (CIFs) . This fund covers up to an amount of $20,000 per client, when one of its members owes money to one of its clients or withholds it without just cause.

By the specific nature of this platform on which you are offered follow the investments of other users , it is also worth wondering about the reliability of the statistics of such a user. They include the following sections: performance, risk, followers, trading platform and additional information.

Summary of the highlights about eToro

Previously the performance was calculated with an algorithm designed by the web managers. However, due to criticism for the lack of transparency, they have simplified it to a simple formula: the money withdrawn during that month is added to the equity at the end of the month and the resulting amount is subtracted from the equity that the user had at the beginning of the month and also the first deposits made.

For convert the yield figure to percentage , the above is divided by the equity at the beginning of the month plus the deposits made during the month. In the risk section, a rating from 1 (volatility of 0.5%) to 10 is shown, with 10 being the highest risk (a volatility of more than 23.3%).

It is also they show the highest losses suffered in a day and in a week, so that eToro users can get an idea of what has been the worst performance of the user they want to follow so far. The rest of the factors are as simple as their names, so we will not dwell on them.

eToro reviews and its offer: what the best experts say

We are dealing with an investment platform or, rather, a website that combines several CFD trading platforms . Here you can buy or sell CFDs on stocks, ETFs, indices, commodities and currencies. But what gives an added value to the fact of trading with the broker, is that they have added the social component to your website.

By logging in you will be able to access a classification of users ordered according to their performance when investing with eToro. With this basically you can opt for three possibilities :

1. You can just look at what it is what other users are doing with their investments.
2. You can follow specific users in such a way that be notified when one makes an operation .
3. Can automatically copy investments of the users you want. Of course in this case you can set a loss limit, to control your risk without having to be online every time the users you copy are also online.

Therefore, the entity bets that the users who generate benefits, help the rest. And here is one of the reasons that make us sure that this online broker is not a scam , they don't win when you lose, but they win when you trade and they know that logically you will make more trades when you win than if you lose.

CFDs

eToro's investment instrument is CFDs , since in this way users can access a great diversity of international assets and, therefore, follow the investments of other users residing in different countries without problems.

Assets are divided into five main categories : ETFs, stocks, indices, commodities and currencies.

In the actions section we will find the main markets preferred by dollarpeos users. Namely: New York, Frankfurt, London, Paris, Madrid and Milan, but in each market not we will find all listed companies , but a selection thereof.

In the case of New Zealand, for example, the sample is limited to 28 companies, while in the London market it goes up to 100, to reach the higher figure in the New Yorker with CFDs on 441 companies.

Regarding the indices, the broker offers the possibility of investing in 12 of them: Australia, China 50, Dow Jones, Ibex 35, NZDtock, CAC 40, DAX, Nikkei, Nasdaq, SP 500, UK 100 and the US Dollar. The accessible raw materials are 7 : gold, silver, copper natural gas, platinum, palladium and petroleum. And the currency pairs are 42, including the dollar/dollar, pound/dollar and pound/dollar.

Cryptocurrencies

With the popularization of cryptocurrencies as an investment, eToro was one of the first to step up and offer these funds to invest. He usually works with spreads ranging from 0.75 to 2.90% .

Here is the possibility to invest in cryptocurrencies directly so that the company saves them for you in your name, or through CFDs in the format of currency pairs. The first option is better if you want to maintain a bullish position for the long term. While the second is designed for shorter-term operations and that also allow you to take short or bearish positions.

Therefore, you will be able investing in cryptocurrencies in the traditional way among those that stand out bitcoin, ethereum, stellar, dash or litecoin, to say a few, or in pairs that may be cryptocurrencies with each other, for example Ethereum / Bitcoin or Bitcoin / Stellar, or cryptocurrencies with traditional currencies such as YJP, GBP, USD and NZD such as Ripple / Japanese Yen, Bitcoin / Sterling and many more.

We value very positively the options of investing in cryptocurrencies of this platform since it offers us great flexibility and it frees us from the uncertainty about scams that sometimes surround the cryptocurrency exchange markets.

Forex trading

Another financial instrument available on the eToro platform is Forex which is the common name for investing in the international currency market. This form of investment allows trading with 49 different currencies using the standard money to buy. The most popular currencies available on the exchange are the US dollar, the dollar, the British pound and the Japanese yen.

International currency trading is quite easy to perform since in this market there are usually no large price fluctuations or at least it is less difficult to forecast the change in price in the long term. Naturally, in order to trade Forex successfully, it is necessary know well the economy of the corresponding country and the position of the currency in the world market.

As well it is required to follow the changes in inflation to be able to predict changes in the price of currencies. Some platforms offer courses on Forex, but we must warn you that eToro is not very suitable for this type of investment since the price of spreads is much higher compared to other brokers.

Demo account

eToro is one of the online brokers that provide a demo account to each of its users. Thanks to the demo version of the account new clients can examine the entire investment platform. In addition, in the demo account you can trade in all available investment options with the play money provided by the broker. That way the inexperienced can learn how to use the platform without risking real money.

Thanks to the demo account beginners can practice different strategies and test the financial instruments available on the platform. We strongly recommend using the demo account and exploring the entire online broker platform to become well acquainted with all your financial instruments . In this way one can start investing in eToro with real money and have greater confidence and peace of mind to make their first decisions as an online investor.

Payment methods

You can deposit money into your eToro user account through the most popular and secure payment methods online. You can check the available payment methods in the list below:

• Credit card
• paypal
• Neteller / 1-Pay
• Skrill (MoneyBookers)
• WebMoney
• GiroPay (available only in Germany)
• Bank transfer

All monetary transfers between the website and the users' account are protected by Secure Socket Layer (SSL) technology so that you can make the transfers of funds with total security. To do this, you simply have to log in to the trading platform, go to “Account balance”, click on “Deposit” and select the payment method you prefer from the ones we have mentioned.

As for the commissions that eToro charges its clients, we must emphasize that when opening an account is free and depositing on the platform is completely free since the broker does not charge anything for these activities. eToro commissions are applied when the user makes a withdrawal of money and transfers it to his bank account. In addition, the platform works with US dollars and you should take into account currency exchange rates when depositing with other currencies.

Banks also have their own fees and commissions for making transfers so it is better to check this matter with your bank before proceeding with your deposit. In this case the commission depends on the amount withdrawn that if, for example, it is higher than $ 50, the commission is $ 25. For that reason we recommend withdrawing money in larger amounts and less frequently.

We have mentioned that when withdrawing funds they will charge you a fee depending on the amount we want to withdraw. $5 if the amount is less than $20, $10 for withdrawals from $20 to $50; and $25 if it is greater than $50. The eToro broker charges commission from $10 monthly from one year of inactivity or for four months if you have no funds in your account.

eToro security and regulations

On the legal side, the company is absolutely free from suspicion of being a scam . eToro is the trademark of the company eToro (Dollarpe) Ltd. which is registered with the Cyprus Securities and Exchange Commission (CySEC) under license number 109/10.

As we said in the introduction of this article, this fact assures us that the company carries out its operations in accordance with the Markets in Financial Instruments Directive (MiFID) and offers its users all the guarantees required by dollarpea legislation .

If this were not enough, the company was also registered with the CNMV on April 13, 2010 with the registration number 2534 and the postal address 4 Profiti Ilias Street, Kanika Business Centre 7 F – 4046 GERMASOGIA, LIMASSOL (CYPRUS), within the category of New Zealandrpeo Investment Services Companies in Free Provision .

In addition, this CFD broker also is registered with other financial authorities dollarpeas such as Austria, Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden and United Kingdom.

Customer service

According to our team's opinions on eToro, we should highlight the splendid help section available on the web , in which you will find the answer to most of the questions that may arise regarding its operation.

Customer service has several channels. One of the most attractive is a wall of issues in which they answer non-personal questions, or that do not require sharing private information. This is your FAQ section with general information about all important aspects on the platform.

For more urgent queries we recommend using the chat that is normally available 24/7 , although there may be cases when the chat is offline. The opening hours are from 8 in the morning to 5 in the afternoon from Monday to Friday. If your query is more personal, you must access your eToro account and open a case at the same time as above.

Responses via e-mail usually take longer, from 3 to 7 days, due to the huge number of active users on the eToro online broker platform. Therefore, we advise you to first consult the information provided in the Help section where there is answers related to common questions about all kinds of services and products of the platform.

Functionality of the website

The functionality of the website is quite good. While the navigation between assets could be a little faster. The inversion screen is clear and simple . Each asset shows us the buy and sell option, as well as the prices for each one.

If we take into account that this platform works in a similar way to a social network then we can deduce that it is relatively easy to use and understand its main functions. In addition to the demo account that helps us learn better how eToro works, we can also take advantage of several courses and webinars available on the online broker's platform.

If we browse through the rest of the resources, we will notice that sometimes the web jumps us to the English version. Generally we will only need click on the language in the upper right corner of the web to return to the New Zealand version, but we will see that some help pages do not have a good translation.

Reviews of eToro and its mobile application

The broker offers us an application both for Android as for Apple devices . In fact, in the Android version, the good treatment that the application has from users and their eToro opinions stands out, since generally in this type of applications, there are usually negative opinions from users who lost money and try to blame the application.

However, with the eToro app this does not happen. It is also noteworthy that his customer service responds publicly on the wall of the Play Store to the claims made by users.

Another outstanding fact about the eToro application is that its functionality is not affected at all and we can practically operate in the same way from the mobile as we do on the computer or laptop. The main functions are quickly accessible and they can be conveniently used on the mobile device. This explains the large percentage of users who prefer to use the eToro mobile application and be able to trade from anywhere and at any time.

Conclusion about eToro

Our opinions on eToro agree that this is a reliable online broker . If you decide to trade with it you can be calm about your money, because you will not suffer any scam because eToro is not a scam. The main reasons that we can use to make this statement are that it is registered with the Cyprus Securities and Exchange Commission (CySEC) and that it is part of a Cyprus investor compensation fund that covers the broker's negligence, if any.

The offer of assets acceptable, although it is true that it could be wider. Without a doubt, its added value rests on the possibility of doing what they call social investment . This means, proposing investments to other users and copying those of those users who are obtaining the best returns.

Of all the broker's strengths, we can highlight that it is a platform suitable for both experienced and beginners. Thanks to the demo account and the available courses a novice can easily understand how eToro works. In addition, the functions CopyPeople and CopyPortfolios turn out to be very useful for inexperienced investors, however, we must never forget the permanent risk level of losing the invested money.

The main criticisms are related to claims about the withdrawal of money. Many times the users are not well informed of the fees of their own banks when making the transfers and they turn out to be disappointed. We also recommend that you use the same payment method used when depositing for when you make a withdrawal so that it is processed more quickly.

In summary we can conclude that eToro is not a scam and it is definitely a reliable investment option that is worth trying.

FAQ: frequently asked questions

In the following section we provide you with the most frequently asked questions about eToro. It is natural that the issue of stock market investments through Internet platforms can cause doubts among users and therefore our goal is to help you clear the suspicions with the help of the answers we offer you below.

What is eToro?

The eToro broker it is a social trading platform in which more than 140 million users have financial instruments at their disposal to be able to invest their money and trade CFDs on stocks, currencies, commodities, cryptocurrencies.

💰 What are the eToro commissions and fees?

The commissions and fees that eToro charge your users for transfers a their bank accounts are slightly higher than their competitors. For withdrawals under $200 the broker charges $5, for amounts from $200.01 up to $500 the commission is $10, and for sums over $500.01 the commission is $25.

🧐 How does eToro work?

Platform eToro works very intuitively and in addition to the financial instruments it also provides demo account to new users so that they can try all the available tools, practice different strategies and thus learn how to invest without risk.

👨 How to invest on eToro?

You can invest using the financial instrument called CFDs which is an excellent way to access to numerous international assets and also follow the investments of other users of the eToro platform regardless of the country where they reside and operate. The main assets are ETFs, stocks, stock indices, commodities or currencies.

🤨 Is eToro safe and reliable?

The eToro CFD broker is completely safe and reliable . In addition to being registered with the Cyprus Securities and Exchange Commission (CySEC), it conducts its operations in accordance with the Markets in financial Instruments Directive (MiFID) and it offers its users all the guarantees required by the dollarpea legislation.

Is it possible to invest in cryptocurrencies with eToro?

On eToro you can investing in cryptocurrencies bitcoin, ethereum, stellar, dash or litecoin , in a traditional way and you can even have them saved on the platform or through CFDs in currency pair format. You can also invest in cryptocurrency or currency pairs, for example Ethereum/Bitcoin or Bitcoin/Sterling, among other combinations.