Today we review the popular eToro. What is eToro? How does it work and what services are provided? This is just a few of the questions this short review help you answer! Ok, with that being said, let´s get into it!
Name of the Company: eToro
Official Website URL: https://www.etoro.com/
Owner: Yoni Assia, Ronen Assia, and David Ring
Overall rating: (4.3 / 5)
Recommended? : Yes
eToro does NOT accept U.S. clients if you are a U.S. citizen then ZuluTrade is a great alternative
In the very volatile stocks trading territory, it has become a necessity for all traders to take precaution by ensuring that they are dealing with the companies that offer them the safest and best services. The unprecedented losses are in one way or another likely to drag down an investor and prevent them from hitting their set targets. Whatever happens, however, the inconvenience should not arise from the malpractice and incompetence of the firms that the investor is relying on. In this review, we shall look at eToro, to see if it is reliable enough to facilitate the activities that traders carry out. We shall achieve this by giving the answers to these questions: What is eToro? How does it work? Which services and products does it provide? Is it genuine? Which are the main benefits and drawbacks that eToro clients face?
What is eToro?
eToro exists as a social trading brokerage firm that places its focus on the provision of Copy-trading services. According to its official website, this company takes pride in being the world’s best social trading platform, in the way it offers investment opportunities in both stocks and digital currencies (cryptocurrencies), along with trading CFDs that have different underlying assets.
This company was founded in 2007 and has a long way in its evolution. Currently, this company’s focus is locked on the provision of social and copy trading services to its more than 10,000,000 platforms distributed in several nations across the world. With its unique proprietary platform, the account owners can copy (mimic) the trading strategies that the successful clients are applying, automatically, and in real-time. If a client is able to copy a trader who has a successful trading streak, then they are likely to amass very impressive profits. On the other hand, if the traders that account holders are mimicking makes a terrible trade, they also end up making losses.
eToro is not available in every nation in the world. Only clients in the following nations can access the eToro platform :UK, Argentina ,Australia, Austria, Bahrain ,Belgium, Brunei, Bulgaria, Canada, Chile, China, Colombia ,Croatia ,Cyprus ,Czech Republic, Denmark, Egypt ,Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, India, Ireland, Italy, Jordan, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, New Zealand, Nigeria, Norway, Oman, Paraguay, Peru, Poland, Portugal ,Qatar, Romania, Russia, Saudi Arabia ,Singapore ,Slovakia ,Slovenia ,South Africa, Spain , Sweden, Switzerland , Thailand , Netherlands, Ukraine, United Arab Emirates , Uruguay ,Venezuela.
How does it work?
There are several features that are offered by eToro on its platform, but the most outstanding one happens to be the copy-trading feature. As discussed above, this feature helps account holders mimic the activities of the successful traders. Below is a brief guide as to how the copy trading activities usually happen:
– You can only invest a minimum of $200 with a single trader.
– You can only invest a maximum of $500,000 with a single trader.
– The maximum number of traders you can mimic simultaneously is 10.
– For every copied trade, the minimum amount in the trade is $1.
– If you decide to close a copied trade manually, your copy balance will also be copied along with any funds resulting from this position.
– Your account is usually opened with the current open positions in the market, at the time of copying, and not the rates at which the Copied Trader opened their own account.
– Your copied trades take after the copied trader’s Stop Loss and their Take Profit.
– If you copy a certain copied trade, you will not close the entire copy account.
These are just but some of the very basic rules that govern the copy trading activities within the system used by account holders with eToro.
Products offered by eToro
eToro has managed to gain popularity partly due to its ability to offer its clients a platform through which they can trade in 6 different products. These products are as listed below:
1. ETFs- eToro allows its clients to choose from up to 58 ETFs that lie under these categories: certain commodities, varying indices, different countries, different geographic regions, fixed income, and volatility products.
2. Stocks-eToro’s account holders can trade in stocks from the following niches: utilities, tech, industrial goods, consumer goods, and basic materials. Account-holders can also carry out trades in the following platforms: NASDAQ, Zurich, Milan, Madrid, London, and Frankfurt, New York Stocks Exchange.
3. Cryptocurrencies: eToro’s platform allows clients to purchase (Contracts For Difference) CFDs in: NEO, Bitcoin, Ethereum, Litecoin, Ethereum Classic, XRP, Bitcoin Cash, Dash, Lumen (XLM). CFDs allow clients to get the difference between the price of the crypto at the time of purchase and the current price of the crypto.
4. Indices: As a trader relying on the eToro, you usually get the opportunity to trade in these 12 indices: UK100, DJ30, USDOLLAR, SPX500, JPN225, NSDQ100, GER30, EUSTX50, FRA40, ESP35, China50, The S&P /ASX 200.
5. Commodities: You can also make a profit trading in these commodities: Silver, Gold, Platinum, Copper, Natural Gas, and Oil
6. Currencies: You can pair up to 47 different currencies on the eToro platform.
In order to access these products, you should create one of the two eToro accounts. The two account types are:
1. Standard trading account
2. Premium trading account
Are the services and products it offers genuine?
eToro offers genuine products and services. It has actually managed to deliver remarkable services to its clients in enabling them to trade in different products on the same platform. Different consumer trust sites have managed to review the products and services provided by eToro and have come up with the conclusion that this company is indeed a reliable and trustworthy one. On 99 Bitcoins (https://99bitcoins.com/bitcoin-exchanges/etoro-review/), eToro has an overall rating of 8.2/10, with elements such as currency support and ease of use being recognized as the main benefits of eToro accounts. On Broker Chooser (https://brokerchooser.com/broker-reviews/etoro-review#review-part-account-opening), eToro is lauded for having user-friendly and easy-to-open accounts. It has a rating of (4/5) on this site.
On Blockonomi (https://blockonomi.com/etoro-review/), the ease of use, reputation, payment methods, and customer support are some of the superior features of eToro that are highlighted. eToro is also recommended a reliable site which is trustworthy and secure.
There are very many investment opportunities that clients can pick up with eToro. The wide variety of the investment products provided through the proprietary trading platform are reliable enough to enable you to earn some money from the trading activities. The copy trading feature helps you to increase your chances of making huge amounts of money by copying successful traders.
Pros and Cons
It is always wise and recommended to look at the positive sides as well as the negative ones to get a better overall view of something. As always in our reviews we provide you with some clear points on both sides of the spectrum:
-offers a variety of investment products
-Secure and trustworthy site
-Accounts have an easy-to-use interface
-Offers investors opportunity to trade in cryptocurrencies
-Excellent social trading experience.
– High trading fees
-Not available in all nations and states
Do You Own or represent eToro?
If you are a representative, or associate of eToro and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final words and verdict
Overall rating: (4.3 / 5)
Ok, I think that sums up the overall view of London eToro pretty good. It is a legit service for sure, however, if it is the right one for you or not is something you have to decide yourself. It is always a wise thing to educate yourself as much as possible in the areas you are interested in. It might be a good thing for you, however, make sure to get your info from more than one source.
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.
I hope you found this short review of eToro to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com