eToro Review: Pros & Cons of Social Investing Platform (2024)

eToro Review: Pros & Cons of Social Investing Platform (1)

In this comprehensive review, we delve into the workings of eToro, a globally recognized forex and crypto broker. eToro distinguishes itself from the crowd with its innovative social investing and copy trading platform. Unlike many of its competitors, eToro does not support automated trading, instead requiring stop-loss and take-profit levels to be set with each trade. This unique approach to trading can be seen as both a pro and a con, depending on your individual investment strategies and objectives. eToro is a regulated entity, holding licenses from the FCA in the UK, ASIC in Australia, and CySEC in Cyprus. It is also registered with several US regulatory bodies, including FINRA, SEC, and SIPC, as a money service business. The company is also listed on NASDAQ under the ticker FTCV. The broker offers a wide range of trading instruments, including Forex, CFDs, and non-CFD trading in cryptocurrencies, US stocks, and international stocks, with over 3,000 symbols in total. eToro also offers the Popular Investor Program for traders who allow their trades to be copied by others, as well as CopyPortfolios for passive investors. eToro is not just a trading platform but also a hub for trading education, market news, and analysis. A standout feature is its Twitter-like feed that provides collective commentary on each trading instrument, giving users an insight into the sentiment of top eToro traders. With a minimum trade size of 0.1 and maximum leverage of 30:1, eToro caters to a wide range of traders. The platform is accessible via web and mobile, and supports a variety of deposit and withdrawal methods. In this review, we aim to provide a balanced and in-depth look at what eToro has to offer.

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Trader Reviews

Review eToro

Founded in 2007, eToro is a well-established forex and crypto broker known for its innovative social investing and copy trading platform. The company's unique offering is its proprietary platform that combines traditional online trading with social networking to create a unique blend of investment strategies.

Regulatory Licenses and Registrations

eToro is a highly regulated entity holding licenses from the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). Additionally, it is registered with FINRA, SEC, and SIPC in the US, although it operates as a money service business rather than a full broker-dealer. eToro also has a presence on NASDAQ under the ticker FTCV (FinTech Acquisition Corp).

Trading Instruments

eToro's range of trading instruments is continually expanding. It offers Forex and CFD products, non-CFD Cryptocurrency trading, non-CFD US Stocks trading, and non-CFD International Stocks trading, with over 3,000 symbols in total. This variety provides traders with numerous options to diversify their investment portfolios.

Social Investing and CopyPortfolios

One of the standout features of eToro is its social investing platform. The Popular Investor Program rewards traders who allow other investors to copy their trades, with compensation levels ranging from Cadet to Elite level. For passive investors, eToro offers CopyPortfolios, which are ready-made bundles of assets based on predetermined strategies and regularly rebalanced.

Trading Education and Market Analysis

eToro provides comprehensive trading education and market news analysis. Notable features include the twitter-like feed of collective commentary for each trading instrument and sentiment data based on the top eToro traders. These tools can help traders make more informed decisions.

Pros and Cons

Like any trading platform, eToro has its advantages and disadvantages. The social trading feature, wide range of trading instruments, and comprehensive educational resources are definite pros. However, the lack of automated trading support and the requirement for stop-loss and take-profit levels to be set with every trade may be seen as cons, depending on your investment objectives and strategy.

Scammer or Not?

With its regulatory licenses and long-standing reputation, eToro appears to be a legitimate and reliable trading platform. However, it is always advisable for traders to conduct their own due diligence.

Safety Check

eToro's regulatory licenses from reputable authorities such as the FCA, ASIC, and CySEC, as well as its registration with US regulatory bodies, indicate that it is a safe platform for trading.

FAQ Section

Here are some frequently asked questions about eToro:

  • What is the minimum trade size on eToro? The minimum trade size is 0.1.
  • What is the maximum leverage offered by eToro? The maximum leverage is 30:1.
  • What is the minimum deposit to open a live trading account? The minimum deposit is $50.
  • Does eToro support automated trading? No, eToro does not support automated trading.
  • Does eToro offer mobile trading? Yes, eToro offers mobile trading.

For more information or to leave feedback about your experience with eToro, please visit the forexroboteasy.com website. This eToro review is an independent analysis of the company and its services.

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fxtrendtrader

1 review

3 months ago

eToro Review: Uncovering the Hidden Truth About Money Loss

In retrospect, eToro used to be a beacon of prosperity and a trusted platform for online financial transactions. There were days when I regarded it as an excellent vehicle for managing my investments. But, regrets are a luxury I can't afford now, especially when I realized I fell victim to their new alleged scheme - pilfering my hard-earned money.Having experienced this unfortunate incident, I couldn't help but reflect on how things have changed with eToro. As I delved deeper into this issue, I discovered that I wasn't alone in this predicament. A close friend, too, had suffered a similar fate, having their bonus money, accrued from successful recruitment of new users, also taken by eToro.This unexpected turn of events led me to question, "How could they distinguish which money was originally earned and which was gained as a bonus?" Frustration dawned on me as the previously straightforward and enjoyable platform started to make little sense. It was becoming increasingly confounding, like a labyrinth with no clear answers or exit.As we grapple with this startling revelation, the scenario reeks of encrypting confusion and feels like a catastrophe in the making. Changes can be unsettling, especially when they involve our hard-earned money. I know I must strive to rectify this situation promptly before it spirals more out of control.In the eventuality, I am processing the withdrawal of whatever funds I still have locked up in eToro. The gloomy aura of the whole episode does, however, leave me nervously hoping that the remainder of my assets can be retrieved. As I tread this daunting path, I can't help but anticipate what the future might hold for me and the platform.The situation clearly calls for some prudent advice, and I warmly welcome any guidance that could place me on the road to recovery. The pursuit of a resolution to this unforeseen circ*mstance has become imperative for me and others in the same boat.In conclusion, the resemblance of light at the end of the tunnel seems distant, yet it takes but a moment of defiance to start the quest for illumination. Thanks, AA.

1 review

3 months ago

eToro Review: Unveiling the Hidden Dangers of this Trading Platform

At one point in time, eToro was regarded as a golden standard for trading platforms, but my opinion dramatically shifted when I unexpectedly fell victim to their unscrupulous practices. Sharing my experience, I hope to serve as a warning to others who may find themselves lured by eToro's promise of effortless trading and bonuses.Originally, the platform offered enticing opportunities to its users. They bestowed tempting bonuses for referring new users, driving me and many others to promote them, yet recent events led me to question the authenticity of these bonuses. A shocking revelation came when a friend, who had also been actively recruiting for eToro, confessed that this 'extra' money was abruptly seized from his account. His claim echoed an alarming pattern I recognized in my dealings with eToro – funds spontaneously vanishing without any clear explanation.My immediate thought was one of confusion and disbelief; how was eToro distinguishing between our invested capital and the so-called 'bonus' money? Their lack of transparency was disconcerting. I found myself embroiled in this financial fiasco, an experience that quickly spiraled from a simple trading experience into a nightmare. The ordeal is far from over. I still shudder at the thought of initiating a withdrawal request for the remainder of my funds still held hostage by eToro. Despite the impending uncertainty, my hope remains undeterred. Perhaps there is a chance that I can reclaim what’s rightfully mine, a silver lining obscured by the cloud of doubt hovering over eToro’s practices.To anyone who finds themselves enticed by eToro’s bonuses or considering trading with them, I offer this advice: tread cautiously. They say that there's no such thing as free money and in the case of eToro, it appears this mantra painfully rings true.I sign off hoping that my story provides you with a more informed perspective on eToro’s operations, a clearer understanding that belies their veneer of professionalism and integrity. Thanks for your time.AA

Rebooting84

1 review

3 months ago

eToro Review: Unveiling My Recent Financial Loss Experience

In the rapidly evolving world of online trading platforms, eToro once held a distinct place in my financial strategy. However, my recent experiences have drastically reshaped my view. A distressing revelation has come forth - it appears that my money has been appropriated by the company. Before these revelations, eToro was an attractive platform for its user-friendly appeal and enticing referral bonus system. However, I recently discovered the uncanny truth - the 'bonus' money generously granted by eToro for recruiting new users seems to have been slyly reclaimed by the company. This strange occurrence left me puzzled, primarily because it begs the question: how exactly were they capable of distinguishing between my genuine earnings and the bonus obtained through referrals? The opaque transparency in their processes is indeed quite alarming. As you can imagine, the realization of such unexpected loss, incited nothing less than a tangible feeling of dissatisfaction mixed with betrayal. What was once viewed as a promising trading platform quickly turned into a financial disaster. The immediate steps for me entail devising a plan to salvage my remaining capital on eToro. I plan on updating you all about this process as it unfurls further, keeping my fingers crossed that the aftermath won't be as catastrophic. I'm naturally left with numerous questions regarding this incident. Was this just a one-off circ*mstance? Or are there others who have stumbled across a similar predicament? An event like this surely stirs up an array of concerns related to the overall reliability and schemes of online trading platforms. In closing, should anyone out there have any advice or suggestions that could aid me in navigating this unfortunate situation, I'd greatly appreciate your input. Sharing experiences can prevent potential casualties in this unpredictable world of digital finance.Thanks,AA.

1 review

3 months ago

Unveiling eToro: A Recent Review on Misplaced Funds

eToro - a name once synonymous with trust and reliability has unfortunately sunk into questionable practices in my recent experience. Previously esteemed as a commendable platform where peers could connect and engage in profitable trading, it is with deep regret, and not a small amount of anger, that I must voice my discovery. The platform unlawfully siphoned off funds from my account!A conversation with a friend, who also lamentably fell victim to the same plight, made me aware that bonus funds credited for referral earnings were the primary target of these underhand deductions. My first thought was reinforced with confusion and frustration: How on earth can eToro distinguish between bonus earnings and my personal investments? It's a total catastrophe!Subsequent encounters with eToro left me no wiser; their unrevealed algorithm marred by secrecy. Yet, tinged with disdain at this blatant unprofessionalism charted a course for a potential financial disaster for myself. In the face of this, I'm now caught in the whirlwind of attempting to salvage whatever funds remain in my eToro account. A daunting journey of navigating through withdrawal procedures lies ahead. It is a bitter pill to swallow - that eToro, the once reliable platform, has left me hoping fervently for the safe retrieval of my investments.My current predicament obliges me to seek advice from the public. Has anyone else had an eerily similar encounter with eToro's mysterious withdrawal of bonus funds? And if so, how did you manage to resolve it?This is my story, an honest outcry against eToro’s dealings. Even as I look to the future with vigor and hope, I caution those willing to listen - tread carefully. It is a stark reminder, to always stay diligent and alert to the risks embedded in the world of online trading.Thank you,AA

jarr15

1 review

3 months ago

eToro Review: Uncovering the Unforeseen Money Theft

Once a hub of seamless monetary transactions and secure business dealings, the eToro trading platform is currently shrouded in a cloud of disappointment and distrust. I write this review with a sense of disbelief stemming from my recent discovery of an inexplicable loss of my own funds. A fellow trader, who also fell victim to this debacle, enlightened me about eToro's dubious money disbursem*nt inconsistencies.The disheartening revelation was that the funds given as bonuses for our active recruitment of new traders mysteriously ended up in eToro's pocket. This led me to the conundrum: "How does eToro discern between what is 'bonus money' and what belongs to me?" It’s a debacle that has left a bitter taste, transforming eToro's previously reliable appeal into a distressing nightmare.My journey with eToro was initially characterized by a sense of security and satisfaction. However, the recent discovery of this monetary manipulation has completely upended that experience, casting it into shadow. It's a jarring reality check that serves as a stark reminder that even renowned platforms can stumble into the pit of deceit.I am now on the verge of documenting my experiences regarding the withdrawal of my remaining funds from eToro. The lingering uncertainty of whether I can recover my hard-earned money adds to the emotional toll. The hope of achieving justice and remuneration sails in this sea of suspicion, and I can't help but wonder if there are more traders sailing in the same boat.If there are readers and fellow traders who have fallen into this unfortunate web woven by eToro, I seek your advice. Your experiences and counsel can serve as a beacon of guidance in my time of need, and potentially help others in the same predicament. Together, we can shed light on these opaque incidents and, perhaps, ensure that no more traders fall victim to this unexpected money theft.Until then, my advice to all eToro users and potential investors is to tread carefully. Be vigilant and aware; your hard-earned funds are too precious to be squandered by deceptive practices. As the saying goes, 'Fool me once, shame on you; fool me twice, shame on me.'Signing off for now, AA

Sionzy

1 review

3 months ago

eToro Review: Unveiling the Hidden Truth Behind My Losses

Once a beacon in the sea of digital trading, eToro's latest maneuvers left it shining more like a cautionary flare rather than a lighthouse. I had only recently come upon a shocking revelation; a frightening reality revealing an unanticipated theft on the part of eToro. In the glow of the early promises, eToro came off as an appealing platform, a seducing lure for novices and veterans alike in the financial fishing grounds. However, a recent discovery revealed the shockingly thwarted reality hidden beneath its surface. An alarming situation cropped up when I ascertained my funds to be depreciating rather mysteriously. Noticing my withering balance, a friendly connection, who also fell victim to this, unveiled to me the alarming truth: eToro had been pilfering the bonus money granted to us for bringing in new traders.As I made sense of the accusation, I found myself lost in a labyrinth of puzzlement. The fundamental question that danced upon my mind was; how did eToro discern the difference between my personal and bonus funds? This indiscriminating amalgamation left my trust in the platform damaged and broken.The unfortunate episode took me by storm, but damage control is never too late to implement. Intending to recuperate my remaining savings lodged in eToro, I will soon venture into the tricky terrain of fund withdrawal. My anxious fingers are crossed, hoping in the tumultuous sea of doubts that I can salvage what's left of my investment. Finally, I feel compelled to reach out to you, dear reader, and fellow traders. Najavigating through such as dispiriting event could use guidance and advice. For those possessing experience or knowledge about transpiring situations like this, your insights would be invaluable.And so, as my journey with eToro continues, albeit on rocky ground, I urge caution and vigilance on the part of every eager trader out there. If you're reading this, I hope my tale will aid in steering you clear of debacles such as mine. Stay tuned for more updates. Until then, stay wary, stay informed. Regards, AA

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eToro Review: Pros & Cons of Social Investing Platform (2024)

FAQs

What is the downside to eToro? ›

Cons Explained

Lacks advanced trading tools and features: eToro's focus is on simplicity and user experience, primarily targeting a broad investor base. As a result, there's a lack of more complex trading tools that professional traders would appreciate.

Can eToro be trusted? ›

Yes. eToro operates in accordance with FCA, CySEC and ASIC regulations, meaning that there are measures in place to protect investors. On eToro, our clients' funds are kept secure in top-tier banks or placed in qualifying money market funds. All personal information is guarded under SSL encryption.

Has anyone made money with eToro? ›

One of the main selling points of eToro and what draws many new clients in is the ability to make money by following other people's portfolios. I was listening to a great podcast from Jeppe Kirk whose eToro portfolio has made on average 25% a year over the past 10 years.

Is eToro legal in the USA? ›

Stock trading in the United States is regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and other entities. eToro follows all SEC and FINRA regulations in the United States.

Why do most people lose money on eToro? ›

One of the main risks is their high leverage, which means that you can control a large position with a relatively small amount of capital. While leverage can amplify gains, it can also amplify losses, and investors can quickly lose more than their initial investment.

What happens to my money if eToro goes bust? ›

eToro adheres to the strict standards of investor protection set by leading regulatory authorities around the world. Every penny deposited by a client is held in a separate, segregated account. This means that even in the highly unlikely event of eToro's bankruptcy, you will be entitled to compensation.

Why does eToro need my social security number? ›

The verification of your eToro investment account is required in order to provide you with the best possible service and comply with financial service regulations. Your information is always kept confidential and is only used for compliance purposes.

Why is my cash available going down on eToro? ›

Accounts may have negative cash available and/or margin call for various reasons (like an ACH reversal or overspending using a market order). In these cases, it is the client's responsibility to cover the negative amounts promptly.

How much does eToro charge to withdraw? ›

Yes, all withdrawal requests are subject to a $5 fee. Any withdrawals sent in currencies other than USD are subject to conversion fees.

Do I actually own stocks on eToro? ›

eToro acts as an intermediary, allowing you to trade real stocks through our platform. When you open a non-leveraged buy (long) position on a stock, you are investing in the underlying asset*, and the stock is purchased and held by eToro on your behalf. This also applies to fractional shares.

Can eToro get hacked? ›

An account can be compromised when someone else gets access to your login details and / or to any of the devices you use to log in to your eToro investment account. In this event, your eToro account and other apps you use may be exposed to unauthorised persons.

Who is the most popular trader on eToro? ›

Most Copied (Last 2Y)
  • JeppeKirkBonde. Jeppe Kirk Bonde. 2.03% Return (Last 2Y) Risk. ...
  • CPHequities. Blue Screen Media ApS. 1.60% Return (Last 2Y) Risk. ...
  • FundManagerZech. Zheng Bin. 5.95% Return (Last 2Y) Risk. ...
  • JORDENBOER. Jorden Boer. 47.09% Return (Last 2Y) Risk. ...
  • GreenbullInvest. Greenbull Investments Sarl. 18.30% Return (Last 2Y) Risk.

Does eToro report to IRS? ›

eToro reports to the IRS as they issue 1099 forms to users. Any time you receive a 1099 form, the IRS receives an identical copy.

Is my money safe in eToro? ›

How are the funds in my eToro Money account protected? Unlike banks, eToro is not allowed by law to use or re-invest client's funds. Therefore, in the unlikely event of insolvency, your funds held by eToro Money are covered in their entirety, other than the cost of returning the funds to you.

What countries is eToro banned in? ›

See the list of blocked countries:
  • Afghanistan.
  • Belarus.
  • Central African Republic (CAR)
  • China.
  • Congo.
  • Cuba.
  • Ethiopia.
  • Russia.

Can I lose everything with eToro? ›

On rare occasions, very sudden price movements could cause your portfolio value to become negative when you trade CFDs. In these cases, eToro will make sure that you do not lose more money than the total sum you have invested in CFDs.

What is risk in eToro? ›

The risk score is a key feature offered by eToro that enables you to manage your risk when considering copying other investors or investing via Smart Portfolios. The risk score is a number between 1 (extremely low risk) and 10 (extremely high risk) that appears on an investor or Smart Portfolio's stats page.

Is it easy to withdraw money from eToro? ›

You can withdraw funds instantly to eToro Money at any time. The amount you can withdraw can be up to the value of your available balance, which does not include funds allocated to open positions. To withdraw funds: In the eToro investment platform, click the Withdraw Funds option in the left-hand menu.

Is eToro safe for long term investing? ›

Yes and very reliable, eToro can be a good option for long-term investments, as it offers a wide range of assets to invest in, including stocks, ETFs, cryptocurrencies, and more.

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