Is eToro the best online brokerage? Our review

eToro is undoubtedly one of the world's most popular online brokers and dealers. With specific tools and features, its platform allows you to trade cryptocurrencies and other assets online. But what are the specifics of eToro? How can you invest in cryptocurrencies on this platform and at what price?

eToro: our opinion

  • Trustworthy and excellent platform for beginner investors.
  • CFD trading which does not require you to hold assent
  • eToro allows its users to invest in other assets like currencies, commodities or stocks.
  • Its platform is easy to use and offers innovative features such as social trading and a demo account.

What is eToro?

eToro is a well-established trading platform, created in 2007. Over time, its site and platform have been enhanced with new and innovative features including access to the cryptocurrency market as well as copy trading which allows you to easily mimic the strategies of top investors.

eToro only allows trading in cryptocurrencies and other assets through CFDs or Contracts for Differences, which are derivative products that replicate the price of an asset.

eToro: the basics

  • eToro offers cryptocurrency investing through CFDs
  • It is possible to practice cryptocurrency staking via eToro
  • eToro offers innovative features such as social trading (or copy trading), which consists of copying the strategies of top investors
  • The eToro platform is secure and regulated by several organizations
  • eToro allows you to trade over 4,000 assets in addition to cryptocurrencies (forex, commodities, CFDs, ETFs etc.)

What are the pros of eToro?

  • Ability to mimic other investors
  • Regulated by several authorities
  • An established and reputable broker
  • Free demo account
  • Many training resources
  • Ability to invest in various assets including crypto, indices, stocks, NFTS, commodities and Forex
  • Many ways to make deposits

What are the cons of eToro?

  • Few cryptocurrencies available
  • Only available in certain countries
  • Minimum deposit of $200
  • Not available in Canada

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Why is eToro not available in Canada?

Due to a dispute with the Ontario Securities Commission (OSC), eToro withdrew its services for Canadian residents in 2018. It currently has no plans to open again in Canada.

Good to know

If you are a Canadian resident, find the best alternative with our guide to Canadian brokerage platforms.

Who uses eToro?

Thanks to the meticulous attention to ease of use and the quality of the services and features available on its platform, eToro is ideal for beginners who want to invest in cryptocurrencies.

However, this platform will also suit more experienced investors as well as investors who are interested in speculating in markets other than crypto-assets as eToro also offers trading in stocks, currencies, Forex and commodities.

How much does eToro cost?

ActivityCosts
Inactivity$10/month after 12 months
Currency conversion
  • 0.5% for debit card deposits
  • 1.50% for credit card, Skrill, Neteller and RapidTransfer deposits
Withdrawal fee$5
Deposit feeFree
Broker's feeFixed spread
Commission1% on crypto
eToro fees & costs

eToro does not charge any deposit fees or account management fees.

Different platforms have different fees and services. Compare the best cryptocurrency trading platforms with our online tool:

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What should you know about eToro?

  • Year of creation: 2007
  • Regulation: CySEC, FCA, ASIC, FICEN, BaFin
  • Number of available assets: 21 cryptocurrencies
  • Minimum deposit: $50
  • Customer service: chat, email, social network
  • Deposits: free in USD
  • Withdrawals: $5 per withdrawal
  • Payment methods: credit card, PayPal, Sofort, Union Pay, Skrill, bank transfer, Neteller, Webmoney
  • Other assets: stocks, indices, commodities, currencies
  • Level required: none
  • Features: copy trading, smart portfolios, demo account
  • Website: www.etoro.com

What services does eToro offer?

eToro offers several useful services and features relating to cryptocurrency trading including:

  • Technical market analysis tools with innovative charts
  • A social trading module that allows you to follow and copy top traders and interact with other members
  • Educational resources including the eToro Academy
  • A margin trading account
  • A crypto wallet
  • NFT trading

To see what other services offer, use our handy tool:

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What crypto does eToro offer?

eToro allows you to invest in 21 different cryptocurrencies:

  • Classic cryptocurrencies: Ethereum, Bitcoin, Ripple, Solana, Cardano, Cosmos, Tron
  • Reserve currencies: Bitcoin Cash, Ethereum Classis and Litecoin
  • DeFi tokens: Curve, Yearn Finance, Maker, Uniswap, Aave, Algoran
  • Meme coins: Dogecoin, Shiba Inu
  • Metaverse tokens: Decentraland, Sandbox, Enjin

Can you do crypto staking with eToro?

eToro has recently started offering a simple and secure cryptocurrency staking service with monthly rewards in the form of eligible crypto assets.

The staked cryptocurrencies remain the property of the users, but eToro performs the staking process for them. In return, eToro retains a small percentage of the return earned in the form of a commission. Here are the cryptocurrencies available for staking on eToro and the rewards offered:

  • Cardano with a reward of 75-90% from day 10 onwards
  • Tron with a 75-90% reward from day 8

Good to know

Want to know more? Read our guide to crypto staking to get up to speed now

The trading platform offered by eToro is one of the most reliable and secure in the market. eToro is regulated by various bodies around the world including:

  • CySEC for the European Union
  • FICEN in the United States
  • The FCA in the United Kingdom
  • BAFIN in Germany
  • ASIC in Australia

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