eToro is the world’s largest social broker, in operation since 2006. The broker ranks amongst the most established providers on the market. eToro stands out by offering traders the opportunity to automatically copy other successful traders instead of choosing their trades themselves. For months, the eToro community requested eToro to provide Ripple trading. This has now been implemented by eToro and is already massively popular.
eToro is regulated by the financial regulator CySEC. The regulator ensures that the traders are treated fairly by the broker and that their credit is secured with a deposit guarantee. eToro has already been active since 2006 and is as such considered one of the established names on the market. To date, more than 2.8 million traders from over 190 countries have chosen eToro for their trades. The platform has been rapidly growing after eToro started to offer Litecoin trades. The platform is especially popular amongst beginners, as the trades of experienced traders can be automatically copied. In addition, traders can invest simultaneously in all major crypto currencies (such as Bitcoin, Ethereum, Dash, Ripple and Litecoin) at etoro’s Crypto-Fund.
All major crypto currencies can be traded at eToro
eToro is a social trader, meaning that they offer – aside from conventional trading – the possibility to copy experienced traders. Beginners can search for the best traders in various rankings and choose a trader from whom they would like to copy the activities. It is convenient that eToro analyses how aggressively traders operate. The broker assesses how risky a user trades based on trading behaviour. This function makes it easier to select which trader to copy.
Leverage can be set regardless of whether a trade is made or if another trade is copied. This leverage can amount to up to 1:400. This makes it possible to realise high returns on low investments. This however also carries higher risks.
Trading currency pairs is possible from a fee of 2 pips. As such, eToro’s fees are a bit lower than the average of other brokers. The costs are fair, considering the additional functionalities eToro offers such as social trading. eToro does not charge commission or account management fees.
Further crypto currencies such as Litecoins, Dash, Ethereum, and Ripple can be traded in addition to Bitcoins. eToro offers a very large selection of tradeable crypto currencies. In addition, traders can invest simultaneously in all major crypto currencies (such as Bitcoin, Ethereum, Dash, Ripple and Litetcoin) at etoro’s Crypto-Fund. Aside from these crypto currencies, brokers can trade in a multitude of Forex and CFD assets.
Tip: With eToro, you can automatically copy successful traders!
|Spread from||2,0 Pips|
|Underlying assets||ca. 70|
|Payment method||Credit card, PayPal, Bank transfer, Neteller, Giropay, Skrill, WebMoney, Wirecard|
Toro has developed its own platform which is very clear in use and structure. Traders do not need to install software on their computers and can access the platform directly through their Internet browser. eToro additionally offers its customers a mobile version. This version is also free of cost. This makes it very easy to trade on the go.
New customers can convince themselves of the trade platform without risk by using the demo account. This account type comes without a usage period limit. Traders can trade with a virtual credit of 10,000 punds.
New customers benefit from very attractive bonuses and advantages. They receive a generous bonus when they make their first deposit. The height of the bonus depends of the deposited amount. Traders can receive a maximum bonus of 1,000 pounds. eToro rewards customers who recommend the broker to friends with high premiums.
It only takes a few minutes to open a new eToro account. Customers need to pay in at least 200 pounds to open an account. This minimum deposit amount is lower than with other brokers.
Traders who deposit 20,000 pounds or more receive a Premium account. This offers them advantages such as a personal account manager. There are a host of different payment methods available to make deposits. Aside from classic pay ins with credit card or bank transfer, the broker also supports Giropay, Skrill, WebMoney, 1-Pay, and Neteller. It is also possible to deposit money through PayPal. Traders have the same payment methods at their disposal when withdrawing credit.
Customer service and training possibilities
eToro traders enjoy professional customer support. The broker’s support employees can be reached via email and live chat. The answers to many – more common – questions can also be found in the expansive FAQ section. The company’s own trading centre offers traders a large selection of information and training options. This includes free training programs and webinars.
Traders can invest simultaneously in all major crypto currencies at etoro’s Crypto-Fund.
eToro has an established reputation, especially amongst Litecoin traders. The option to automatically copy successful traders is particularly interesting for new traders. A new account is set up within minutes, and new customers receive a deposit bonus. Traders can use all common payment methods with eToro. The trade platform the company itself developed has a very beginner-friendly interface and it offers traders many useful functions. The customer support quickly and professionally answers questions. The social trading elements makes eToro stand out from other mainstream brokers.