eToro review

eToro is an instantly recognizable brand to anyone familiar with the world of financial trading. Famous for its trademarked Copytrader, which allows you to shadow and follow the most successful traders using the platform, it’s uniquely suited to both newbies and seasoned veterans alike. In this eToro review, we’ll take a closer look at all of the different elements of eToro, and compare them to what else is out there.

We’ll ask what it offers that other platforms don’t, if anything, and whether or not this is the right trading platform for you. By the end of this review, you’ll have a better idea.

Let’s dive right in and explore it.

Who should consider using eToro?

eToro is suitable for all, from beginner traders to advanced, and everyone in between. However, it is particularly suitable for two groups: 

As mentioned previously, eToro is known for its Copytrader feature, which allows anyone to literally copy the trades of advanced traders. This works for both parties since it allows new traders to learn, and allows the trader being copied to make a 2% commission on each successful trade.

Likes & Dislikes

eToro Fees

A consideration of the fees you will incur for using a trading platform should be an essential factor in your decision about whether or not to register. The following is a quick overview of eToro’s fees:

Inactivity fees – If you don’t deposit or login for 4 months, you will have to pay a $5 inactivity fee. The same fee will apply if you deposit and don’t login for 12 months.

Withdrawal fee – You will be charged between $5 and $25 for withdrawals.

Trading Fees – Overall trading fees and spreads vary depending on the instruments you are trading, whether it be currency pairs, indices, commodities, stocks, ETFs, or something else. A full list of all the fees can be found here.

For example, here are some of the current overnight fees. Keep in mind that these are subject to change depending on market conditions and volatility:

Keep in mind that eToro does not charge a fee for opening a position.

A brief overview of eToro

eToro was founded in 2007 and was built with both beginner and professional traders in mind. The platform is fully regulated by various financial regulatory bodies and is based in Cyprus. Leverage up to 400:1 is available.

The Copytrader feature is patented and is unique to eToro. It’s this feature that allows traders across the spectrum of experience to find the platform useful. You can also build a watchlist to keep an eye on traders you might like to follow as well as instruments you might want to trade.

Of course, you don’t have to copy other traders and can trade freely yourself.

eToro was one of the first on the social trading scene, which has grown tremendously since, as has eToro itself, which has a customer base well into the millions from around the world and is now the official sponsor of West Ham United football club in the English Premier League.

The platform is intuitively simple to use and has been designed with the beginner in mind. Even if you have no previous experience trading, it will take only a short while to get the hang of using the platform.

One of the biggest positives for eToro is the vast range of deposit and withdrawal methods you can use. On top of credit and debit cards, Skrill, PayPal, and even wire transfers are possible when funding your account or taking profits.

There’s also a first deposit bonus available on eToro. You can claim up to $4,000 in eToro credit when making your first deposit by using the bonus code start. In the highest bracket, which is for deposits between $2,500-$10,000 you can claim 40% of the value of your deposit.

eToro Review – Our take

eToro is extremely easy to use. When you first log on you will see a snapshot of all the most popular commodities and instruments and their current prices. You can customize this later to get an instant glimpse of the currencies, stocks, and commodities you are interested in or are currently trading – that will be your Watchlist.

eToro WebTrader

For those who are logging on via a desktop device or laptop, the eToro web trader will be the platform you encounter. It’s laid out exactly as described above and is compatible with both PC and mac devices.

eToro Mobile Trader

For traders on the move, the mobile trader is a scaled down version of web trader but has all of the same functions.

eToro OpenBook Platform

We mentioned this earlier, but OpenBook is really the main feature or highlight of what eToro is all about. It’s the social hub of the platform, where you can see others trades, swap strategies, and interact with other traders, some of whom might be far advanced on you if you are a beginner.

Getting started and making trades

Registering at eToro is actually a pain-free process and should take less than a minute to complete. There’s a simple, one-page form to complete asking for your name, username, password, e-mail address, and phone number. Filling this in will get you started, but you will have to complete your profile later to be able to actively trade.

Making trades

Actually making trades can be done by clicking the desired pair, which will take you to a more detailed screen, and then clicking the blue ‘trade’ button. You will then be asked to confirm your trade before executing it.


Without a doubt, the distinguishing characteristic of eToro is the Copytrader feature.

CopyFunds Function

For those looking for a safer way to copy, eToro does bundle some successful traders together into a fund managed by them.

Investment Offerings

eToro offers ways to get in on the action of all of the popular pairs, but some experienced traders who wish to stray outside the safe lines and deal in more exotic instruments may find what’s on offer a little limiting.

Customer Support

Getting in touch with someone when you need help can be done in one of two ways when trading on eToro.

Educational Material

Since eToro has many features geared towards the beginner trader, it only makes sense that there would be plenty of educational material for beginner traders. It does so through the trading academy.


If you’re a beginner trader, you can’t go wrong with eToro. It’s built for newbies and you will quickly feel at home.

For more advanced traders, whether or not this is the right platform for you will depend on what you’re looking for. The Copytrader feature can work to your advantage in that you can build up a following and earn 2% commission on every successful trade, but you may find the limitations on the available currency pairs to be frustrating if you tend to venture outside the lines.

Overall, eToro could do a few things better such as speeding up the platform, bringing in more attractive visuals on graphs, and perhaps taking the extra measure of forcing traders to verify their accounts before others can copy them, but on the whole, it makes for a great choice.