Review of ETORO Broker
Founded in 2007, Israeli broker eToro offers a multi-asset platform consisting of CFD, stocks, crypto currencies and Forex. eToro regulated by the FCA (UK), CySEC (Cyprus) and AFSL (Australia) has become well-known for its leading social trading network allowing traders to follow and copy other people’s trading strategies. eToro has offices located in Tel Aviv, Cyprus, UK, and Australia.
Markets Offered
Traders can trade CFDs, Forex, ETFs, indices, stocks, commodities as well as Crypto currencies with eToro.
eTroro does not accept clients from the following countries:
- USA
- Canada
- Brazil
- Japan
- Turkey
- Iran
- Syria
- Sudan
- Cuba
- North Korea
Account Types
eToro keeps client funds in segregated accounts using tier-1 European banks. The broker does not charge European clients broker fees, however this does not apply to leveraged or short trades nor for CFD’s held over weekends.
Overall fee structure for non-European clients is considered low.
eToro does not charge any management fees and only charges an inactivity fee of $10/month for inactive accounts over 12months.
eToro charges and account withdrawal fee of $25 which is on the high side. There is no charge for funding/ depositing into the account.
Overall fee structure is transparent.
Accounts are only available in USD currency.
Trading Platforms
eTroro offers three trading platforms eToro web trader, eToro open book, etoro Mobile app.
eToro Webtrader is a user friendly platform offering professional tools for beginners and advanced traders. Their trading platforms however do not support MT4.
The eToro OpenBook was launched in 2010 and is the innovative social trading platform that allows traders to follow and copy successful trading strategies of other traders or to be followed by others.
The eToro Mobile App available for both Apple and Android allows traders to access both eToro Webtrader and OpenBook on the go.
Customer Service
Sadly, eToro does not provide telephone support. Customer support is only accessible online.
Opening an account at eToro is fast and uncomplicated. eToro requires a minimum deposit of $200 when funding the account. Funding can be done via wire transfer, debit/credit card (Visa / Mastercard) or via electronic wallet.
Education
As an eToro client you will have access to multiple trading tools as well as some educational courses consisting of webinars, e-courses and training videos.
A free demo account is available allowing traders to validate trading strategies without risking real money.