eToro broker review: scam or not + real reviews from traders

Minimalism and interactivity - this is the first impression of a broker when visiting the eToro official website for the first time. The company positions itself as a broker for social trading and investment. What is unique about the patented CopyTrader technology offered by eToro, how does it differ from similar platforms, for example, ZuluTrade or the LiteForex service, what are the trading conditions of the broker and what traders think about it, how true are the reviews about eToro, I decided to find out.

eToro only at first seems like a classic broker focused on European clients. The company was founded in 2006, working with Russian clients through a Cypriot company. The broker's regulator is CySEC (license 109/10). The company has offices in Russia (Moscow), England (London, FCA license No. 583263), Israel, Cyprus and China and serves about 6 million clients.

trading conditions :

• a classic set of assets: currencies, stocks (divided by sectors), indices, commodity assets. The asset section becomes fully available after registration, which takes 2-3 minutes. All assets have information display of quotes, including charts and ticker. Quite convenient, perhaps I have never seen such a presentation of information in a personal account.

• The minimum deposit amount is $100. USA, the minimum transaction amount for shares is $50. USA. The rest of the information needs to be clarified with the broker, since this information is not available on their website.

The broker’s special feature is its proprietary trading platform, WebTrader. It was initially developed on the basis of another broker platform - OpenBook, and in 2011 it was reorganized into a separate product. How convenient it is, I suggest you evaluate it yourself and share your opinion in the comments. But I’d like to focus on one more fact: eToro is one of the few brokers that has partnerships in the USA. WebTrader in the USA has an analogue - the eToroUSA platform, which is operated by the introducing broker Tradonomi LLC with an NFA and CFTC license.

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Benefits of working with eToro broker :

• a unique trading platform ideally adapted for social trading;
• trust in eToro from Sberbank and Commerzbank, which act as financial and technical partners of the broker;
• eToro is one of the few brokers with access to the US market;
• there is an opportunity to trade cryptocurrencies

Replenishment of money is possible through Yandex.Money, PayPal, WebMoney, Scrill, Neteller, through credit cards and bank accounts. Money is withdrawn only to the same account from which the deposit was made or to an alternative account (indicated at the time of deposit). Application processing time is 1-2 days for electronic systems and up to 8 days for credit cards. The disadvantage is that there is a fee for withdrawal, not counting the commission of electronic systems. You can verify your account immediately after opening it before replenishing your deposit.

You shouldn’t count on educational materials on the broker’s website. The eToro community is in English, interactive courses and seminars are more for visibility.

About the broker

Brief history of the broker and awards

eToro was founded in 2007. The purpose of its creation was to combine interests in social networks and trading. In addition to trading, users communicate with people with similar interests.

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The result was a successful combination of traders’ collective experience and passion. eToro does not have any awards. A Russified version of the official website has been made. The trading platform is constantly evolving, new tools are being added. There are no offices, work is done online.

What is Copy Trading?

These days, every Tom, Dick and Harry has access to the financial markets - trading from home is now possible on a global scale. The fact that everyone, including retail investors, now has access to the so-called “rich man's playground” is great.

But if you're still a nervous trader or have never even set foot in the world of investing - then copy trading could be the best thing you've ever done! Also, and perhaps most importantly, it can be a great way to learn how to trade.

Social media accounts run by experienced traders have been around for some time in the form of investor profiles. The idea is that you can follow a trader with similar trading ideas and get tips along the way because some investors share statistics and charts.

The big difference with copy trading is that it's mostly about making money, not just communicating.

The copy trader you choose will use their skills to trade on behalf of you (and anyone who copies them). All you have to do is decide how much to "copy". This means how much money you are willing to offer an investor to trade.

As we briefly covered earlier, copy trading allows you to copy the trading of other investors. decisions, better or worse. Thus, when you choose to copy a trader and he decides to buy, it means that you are buying too. When a copy trader decides to sell, you sell too. You don't have to do anything and, in the end, you can trade passively.

Terms of service and tariffs

Broker Products

eToro has a range of basic and advanced tools.

Structured Products

eToro offers clients the following products:

1. Margin trading (“with leverage” of 1:25 for CFD contracts and 1:100 for other transactions). The client uses his own and borrowed funds when working.
2. CopyFunds. Investment portfolios with profitable assets have been formed. To use, you must have a minimum of $5,000 in your account. Yield up to 40% per year. The most popular portfolio is BigTech (shares of Apple, Google, Microsoft, etc.).

IPO

eToro does not offer clients participation in the IPO.

More

The broker maintains a blog about social trading on the official website, which is constantly updated with new and useful information.

Copying portfolios

The broker calls this feature a method for reducing investors' risk. There are 2 directions offered - copying a portfolio made up of successful traders ( Top Trader Portfolios ) and a portfolio from a set of contracts for difference ( Market Portfolios ). In the latter case, CFDs are selected depending on the specific strategy.

Market Portfolios are divided by the asset classes included in them. For example, Mobile Payments is aimed at companies working in the field of non-cash payments. In addition to your own portfolios, there are also so-called affiliate portfolios.

Top Trader Portfolios – selections of leaders are compiled according to various criteria. For example, GainersQtr includes the most conservative signal providers. is reviewed quarterly .

There is no guarantee that all transactions will be 100% accurate, even if only ultra-conservative leaders are selected for the portfolio. So Top Trader Portfolios cannot be considered a panacea.

You can copy both types of portfolios to a demo account. Moreover, from one account you can invest in:

• Individual traders.
• Asset portfolios.
• Portfolio from TOP traders.

In order to reduce risk, you can use this particular method of portfolio investment.

additional services

eToro does not boast a wide range of additional services.

Working with a broker

The procedures for interaction with the intermediary are clearly regulated and maximally optimized.

Registration on the official website

You can only register with eToro online. The following information is indicated:

• Name;
• Email;
• password;
• telephone.

It is necessary to agree with the terms and policies for the processing of personal data. Simplified registration via Facebook and Google is available.

Instructions for opening an account

Opening an account with eToro is free. After registration, an email will be sent to you. Follow the link there to activate your account.

In your personal account on the official website you should indicate the following information:

• real full name (otherwise it is impossible to pass verification);
• age;
• floor;
• address;
• stock exchange experience;
• level of familiarity with trading;
• preferred assets and strategies;
• investment goals;
• acceptable level of risk (1–4 low, 5–7 medium, 8–10 high);
• earnings for the year.

The information is confidential and is not passed on to third parties.

You can choose a trader on eToro by rating or a set of parameters. It is advisable to focus on the best investors (low daily drawdown rates, risk level up to 4), those who are in the trend (the number of copiers has sharply increased), and the most copied. At any time, you can write a message to the trader through the form on the official website.

Personal pages display information about trading history and profitability, risk level, open positions, and author's analytical reviews. There is a profitability calculator. When repeating transactions, the amount of loss at which copying stops must be established.

Demo account

Demo account at eToro with 100,000 virtual dollars - imitation of trading on the exchange. Helps you acquire trading skills without the risk of losing real money, understand the nuances of eToro software and learn how to make investment decisions. Available to clients after registration.

Account replenishment and withdrawal of funds

You can fund your eToro brokerage account in the following ways:

• bank cards;
• electronic payment systems (Yandex.Money, WebMoney, Neteller, PayPal).

The minimum deposit amount is $50, for working with shares $100. The maximum amount for the first deposit is $4000. After verification, it is permissible to deposit $50,000 at a time. To form an investment portfolio, a minimum of $300–500 is required.

Withdrawing funds to electronic wallets (Yandex.Money, WebMoney, Neteller, PayPal), cards or bank account takes several days. An application submitted on the official website can be canceled before confirmation.

Standard commission:

• $20–200 – $5;
• $200–500 – $10;
• over $500 – $25.

Technical support

You can get technical support from eToro in the following ways:

1. By phone +7-495-648-64-43 or 8-800-500-43-80 (from 10.00 to 19.00 Moscow time).
2. through a special form on the official website.
3. Ask for help in groups on Facebook and VKontakte.
4. In online chat.

To conclude

Because you can tailor your portfolio as and when you want, copy trading is a great way to invest no matter what life throws your way.

There may be a time when the investor you are copying decides to buy shares in a sector in which you have absolutely no interest. In this case, you can simply exit the position manually to avoid risk in that particular sector.

Some people like to use more than one copy trader at a time. This allows you to diversify your trades across multiple traders while reducing your long-term risk.

As we've said before, the best traders at eToro don't necessarily have the most copiers, so always do your research as much as possible. Apart from having a good understanding of how copy trading works and the risks involved, this knowledge will only help you in the long run.

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FAQ

Pros and cons of the company

eToro Benefits:

• 12 years on the market;
• licenses from renowned European regulators;
• reliable partners (Sberbank, Commerz Ventures, PINGAN, etc.);
• many active clients;
• various instruments;
• professional traders from all over the world;
• Russian-language interface of the official website;
• independent level of risk.

Disadvantages of eToro:

• high commission fees;
• poor technical support;
• there is little information on the official website and on the Internet;
• The opening price on the account may differ from the trader's opening price due to high volatility.

Real reviews

There are a lot of eToro reviews online, mostly from customers.

Traders

It was not possible to find traders' opinions about eToro on the Internet.

Clients

Reviews online vary. eToro appeals to clients with no stock trading experience. Extended statistics on traders on the official website allows you to make the right choice. Copying trades is convenient and execution is fast. Many people mention good specialists in selecting investment portfolios.

There are also negative reviews. The main problems of eTopo are unpredictable commissions (do not correspond to the stated conditions) and wide spreads (much more than the stated 0.18 points).

Employees

We couldn't find any employee reviews of eToro.

Summary

eToro's service is one of the best in terms of quantity and quality of leaders. In addition, here on master accounts they work not only with currency pairs, but also with cryptocurrencies, stocks, and indices. Copying portfolios is not found at all in most other services.

Among the shortcomings, I note that everything here is implemented through an online terminal . This means that you are tied only to this broker. The option of transferring positions through MT4 using an advisor is no longer available. On the other hand, the broker is not bad, so you can trade with him. For beginners, the article on how to open a Forex account will be useful.

In the comments, be sure to share your experience with transaction copying services. Perhaps someone is trading on eToro, it would be interesting to know your results.

This article completes the series of materials devoted to copying trades, but I will continue to cover important issues related to investing and trading. In order not to miss new materials, I recommend subscribing to blog updates . With this I say goodbye to you and wish you good luck in investing. I hope that you can already boast of good results!

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