Leverage: 1:30
Min. Deposit: $50
Platforms: eToro Platform
Regulation: CySEC, FCA, ASIC, FSAS
HQ: Israel
Found in: 2006
eToro Licenses:
- eToro (UK) Ltd – authorized by FCA (UK) registration no. 583263
- eToro (Europe) Ltd. – authorized by CySEC (Cyprus) registration no. 109/10
- eToro AUS Capital Limited – authorized by ASIC (Australia) registration no. 491139
- eToro (Seychelles) Ltd. – authorized by FSAS (Seychelles) registration no. SD076
Our Review Method:
- 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about eToro.
What is eToro?
eToro is one of the world leading Forex Brokers and is largest eToro social trading network that serves more than 6 million users from around 150 worldwide countries. eToro was founded in 2006 by three partners, who aimed to create a financial trading platform suitable to traders of all levels, offering easy and convenient trading tools.
In fact, nowadays the parent company became the largest and one of the most popular brokers for copy trading and Social Trading, including US Trading eToro company.
eToro Pros and Cons
eToro has a long history of operation and is a heavily regulated Broker with an excellent reputation. The account opening is easy, the platform is seamless and easy to use with numerous instruments available, also eToro is number one for copy trading for the number of traders and available portfolios.
For the Cons, the platform is rather basic, spreads for some instruments are high and there is no 24/7 customer support.
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Advantages
- Multiply regulated broker with a strong establishment
- Good reputation
- Fully audited financial services
- Competitive trading conditions
- Great technical solutions and tools
- Negative balance protection
- Quality customer support with live chat and fast response
Disadvantages
- Regulatory standards and protection vary based on entity
- No 24/7 support
eToro Review Summary in 10 Points
| Headquarters | Israel, and offices in Cyprus, the UK, the US, and Australia |
| Regulation | CySEC, FCA, ASIC, FSAS |
| Platforms | Proprietary web-based software |
| Instruments | Stocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencie |
| EUR/USD Spread | 1 pips |
| Demo Account | Available |
| Minimum Deposit | $50 |
| Base Currencies | Standard is USD |
| Education | Offered |
| Customer Support | 24/5 |
Overall eToro Ranking
Based on our Expert findings, eToro is considered a good broker with safe and very favorable trading conditions. The broker offers a range of trading services designed for both beginner traders and professionals with low initial deposit amounts. As one of the good advantages, eToro covers almost the globe, so traders from various countries can sign in, also with the lowest spreads.
- eToro Overall Ranking is 9,2 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
| Ranking | eToro | Pepperstone | XM |
|---|---|---|---|
| Our Ranking |  | | |
| Advantages | Copy Trading | Platforms | Low Deposit |
eToro Alternative Brokers
We learned that eToro provides Excellent Copy Trading, almost none of Brokers can compete with eToro for Social Trading number of portfolios, also there is a range of trading instruments, good trading conditions, and also low trading spreads and fees. However, there are a number of other brokers that offer similar services. Here are some of the best alternatives to eToro:
- AvaTrade – Good Instruments and CopyTrading
- Pepperstone – Low Spreads and Competitive Trading Conditions
- XM – Wide Range of Trading Opportunities
Awards
Actually, it is a highly rewarded broker too, which gained not only great reviews from global traders but also timely rewarded by the world’s reputable editions or international magazines, expeditions, etc. Eventually, our eToro Review found that the broker holds awards such as Best Broker for Cryptos, Best Broker for Social Trading and many more “best” titles are in its list.
Is Interactive Brokers Safe or Scam?
Yes, eToro is safe and not a scam, due to heavy regulation and licenses from CySEC, ASIC, and FCA with high trust. Thus, it is secure and low-risk to trade Forex or social trading with eToro.
