Summary: eToro is the world's largest multi-asset broker boast over 18 million users across 140 different countries. Their platform is widely regarded for offering the widest variety of available markets including over 8,000 stocks, ETFs, commodities and cryptocurrencies.
eToro's innovative CopyTrader system is one of the standout features allowing users to view and copy the real-time trades of other successful traders in their network. For those looking for a more hands-off approach, eToro's Portfolio Builder is perfect as it automatically rebalances your portfolio according to your chosen risk profile.
Best Exchange for US Banks
- 3,000+ Cryptos, Stocks, Commodities, ETFs & More.
- Globally licensed trading platform the FINRA & FinCEN.
- Low trading fees and tight spreads on all assets.
What is eToro?
eToro is a social trading and investing platform that allows users to trade thousands of traditional assets, including cryptocurrencies. eToro also offers features like copy trading, which allows users to copy the trades of professional traders that use the platform.
eToro was founded in 2007 by brothers Yoni and Ronen Assia, and their friend David Ring. eToro is headquartered in Tel Aviv, Israel. The platform has over 18 million registered users from 140 countries. eToro offers services in 32 languages.
eToro offers a variety of features to its users, including:
- Social trading: eToro is a social trading platform, which means that users can copy the trades of other eToro users. eToro also allows users to interact with each other on the platform through a variety of features, such as the eToro Wall and eToro forums.
- Cryptocurrencies: eToro was one of the first brokers to offer cryptocurrency trading. eToro offers a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. eToro also offers crypto wallets for storing cryptocurrencies.
- Copy trading: eToro's copy trading feature allows users to copy the trades of other eToro users. eToro offers a variety of tools to help users find the best traders to copy.
- eToro Wallet: eToro offers a cryptocurrency wallet for storing cryptocurrencies. The eToro wallet is available for Android and iOS devices.
- eToro Staking: Earn interest on crypto deposits with eToro's staking feature for Ethereum (ETH), Tron (TRX), Cardano (ADA) and other proof-of-stake tokens.
They do not currently charge any commissions on stocks, instead eToro makes its money from the spreads, which is the difference between the buy and sell price of an asset. Spreads can vary depending on the asset being traded and the market conditions. In normal conditions, the spread between eToro's buy and sell price is usually within 50bps (0.5%), which is considered low-average.
However, they do charge a 1% fee on cryptocurrency trades, this is considered relatively low compared to other US exchanges like Coinbase which charge 3.5%. All deposits are free on eToro and withdrawals are subject to a $5USD administration fee.
Supported Assets on eToro: Crypto, Stocks & more
eToro offers over 6,000 assets to invest in including cryptocurrencies, indices, stocks, ETFs, commodities and fiat currencies. It is the largest multi-asset brokerage globally and is the only centralized cryptocurrency exchange to offer both traditional and non-traditional financial products.
The platform currently supports trading on over 50 different cryptocurrencies including Bitcoin, Ethereum, Litecoin, Cardano and more. It also offers trading on 50 fiat currency pairs, 15 indices, 264 ETFs, 32 commodities, and 2257 stocks. Users can to trade Currencies and Forex with up to 10x leverage to long or short different assets.
Is eToro Safe?
eToro is regulated in a number of countries including the UK, Cyprus, Australia, and more. It is widely regarded to being one of the safest and secure cryptocurrency/digital asset trading platforms in the world.
The platform has been around since 2007, which highlights that it is battle-tested, secure and in a good relationship with global financial regulators. It has never been subjected to a hacking incident or any cyber attacks. All of eToros users' funds are stored offline in cold storage and are insured by tier 1 banks.
How to Buy Bitcoin with eToro
If you are already signed up to the eToro platform and need help investing on the platform, you can use our simple guide below to get started. This example outlines how to buy Bitcoin and other cryptocurrencies with the eToro crypto exchange.
- Sign up to eToro and complete your onboarding
- Select 'Deposit Funds' on the home page
- Find the deposit method you wish to use and follow the prompts to deposit funds onto eToro
- Search 'Bitcoin' in the search bar at the top of your screen
- Enter the amount you want to invest and select 'Open Trade'
Cryptocurrency Staking Features
Users of eToro in certain countries can also access cryptocurrency staking for 3 cryptocurrencies. The tokens you can stake on eToro are Ethereum, Cardano and Tron. While this is a great feature, we would not recommend using eToro to stake digital assets as the APY (Annual Percentage Yields) are lower than most exchanges.
A better digital asset platform for crypto staking would be a multi-staking exchange like Bybit. It offers staking on over 100 tokens with 5 different types of staking available including single and double sided liquidity pool staking.
One of the most popular reasons users enjoy using eToro is its innovative Copy Trading feature, which allows for professional traders and analysts to post their trades publicly for others to follow. You can track the reputation of certain analysts, and traders to find the ones with the highest success rate to follow.
The eToro Copy Trading feature is perfect for new investors looking for some early guidance, or tips on how to do their own market and stock analysis. eToro was the first exchange to do this and many other platforms have followed including Binance, Bybit & Coinbase.
eToro Mobile App: iOS & Android
The eToro mobile app is available on both Android and iOS devices, it allows investors to trade on the go. The app offers a number of features including the ability to open and close positions, view charts and prices, check your portfolio and more. It offers the same functionality as its web version and is currently rated 3.5 stars from over 1.5k reviews on the app store.
Customer Support & Online Communities
eToro offers support via Live Chat (24/7) and has an incredible 4.2 stars on Trust Pilot out of over 15K reviews which speaks volumes about the support team. Most of the reviews comment on the excellent service provided by the eToro customer service team.
In conclusion, eToro is a social trading and investing platform that offers a wide range of features to its users, including social trading, cryptocurrency trading, copy trading, a cryptocurrency wallet, and more. The platform is widely regarded as safe and secure, with a long history of serving its users and being in good standing with global financial regulators. eToro offers over 6,000 assets to trade and invest in, including cryptocurrencies, stocks, ETFs, commodities, and more. The platform's innovative Copy Trading feature is one of its most popular features, allowing users to copy the trades of professional traders and analysts.
The eToro mobile app is available for both Android and iOS devices, making it easy for investors to trade on the go. Overall, eToro is a great choice for both new and experienced traders and investors looking to trade and invest in a wide range of assets in a secure and user-friendly platform.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.