Etoro is an online trading platform that allows users to invest in stocks, crypto, commodities, and more. This 2024 review covers key details about Etoro such as features, fees, pros, and cons.
What is Etoro?
Etoro is a multi-asset trading and investment platform founded in 2007. It enables users to invest in stocks, ETFs, crypto, commodities, currencies and more. The platform offers social and copy trading features.
Key Details About Etoro
Here are the key details about Etoro summarized in a 2×6 table format:
| Category | Details |
|---|---|
| Founded | 2007 |
| Assets Offered | Stocks, Crypto, ETFs, Commodities |
| Account Minimum | $200 |
| Social Trading | Yes, copy trading |
| Trading Platforms | Website, iOS & Android apps |
| Commissions | $5 per trade, low spreads |
| Category | Details |
|---|---|
| Customer Support | Live Chat, Email, FAQ Center |
| Forex Trading | 15 major currency pairs |
| Security | Regulation, fund segregation |
| Orders | Market, Limit, Stop Loss, Take Profit |
| Pros | Easy to use, low fees |
| Cons | Limited research resources |
Etoro Review 2024
Etoro is one of the largest trading platform and investing platforms with over 27 million users globally. Here is an in-depth review of Etoro in 2024 covering key aspects:
Trading Experience
Etoro offers a user-friendly trading experience suitable for both beginners and advanced traders. Key highlights include:
- Intuitive web and mobile trading platforms
- Real-time charts, news, and market data
- Ability to search stocks and track watchlists
- Integrated technical analysis tools
- Support for complex orders like stops and limits
The trading interface has been designed to make market monitoring and order execution fast yet simple. Traders also benefit from an array of trading tools.
Social & Copy / Paper Trading
A pioneering feature of Etoro is its social and copy trading capabilities. You can interact with other traders, follow their portfolios, network, and copy their trades automatically.
For instance, you can copy the trades of top-performing traders. When they execute trades, the same will be replicated in your account automatically. This allows even inexperienced investors to earn by mirroring the tactics of skilled traders.
etoro Investing Choices
Etoro provides access to thousands of stocks, ETFs, crypto assets, commodities, currencies, and more across global markets. You can build a highly diversified portfolio.
It supports manual investing across:
- Stocks from exchanges like NASDAQ and NYSE
- Fractional stocks of FAANG companies
- Over 40 cryptocurrencies including Bitcoin and Ethereum
- Commodities like gold and oil through CFDs
- Forex currency pairs
Additionally, for long-term passive investing, Etoro offers ready-made portfolios called Smart Portfolios. You can invest in these portfolios aligned to investment themes like tech stocks or sustainable energy.
Security
As a heavily regulated platform across multiple jurisdictions, Etoro employs robust security measures which include:
- Segregated client funds in European banks
- 256-bit SSL encryption
- 2-factor authentication login
- Negative balance protection
This ensures the complete safety of your capital and data.
etoro Fees & Commission
A major benefit of using Etoro is its low and transparent fee structure:
- No deposit or withdrawal fees
- Low $5 trading fee per order
- Low overnight and weekend rollover fees
- Minimal Forex conversion fees
- No management fees for copy-trading
The spreads on assets may vary depending on market conditions. But Etoro has relatively competitive spreads offering good value.
Trading on Etoro
Etoro allows trading across stocks, crypto, and other asset classes. Here is an overview of key aspects when trading on Etoro:
Opening a trade on Etoro
To open trades on Etoro, you need to:
- Search for an instrument or access it from categories like stocks, crypto, etc.
- Enter investment amount, set stop loss, and take profit if desired
- Click on “Trade” to execute the order at the market price
Before opening a trade, live stats like spreads, leverage, fees, etc are specified.
Managing Positions
Once a position is opened, you can manage trades from the open positions tab. Key options include:
- Add take profit or stop loss
- Close, edit, or copy a position
- Partially close a portion of total trade
- Extend expiring CFD positions
- View related charts and news
This allows efficient management without exiting the platform.
Order Types
Etoro offers flexibility via order types like:
Market Order: Instant order execution at current market price
Limit Order: Orders get triggered when the price reaches a specified limit
Stop Loss: Closes position if price moves opposite of trade direction
Take Profit: Locks profit when target price level gets breached
Using such orders is optional but recommended for risk management.
What are Trading Tools available on Etoro?
To aid trading decisions, Etoro provides tools like:
- Live Charts with indicators and drawing tools
- News Feeds related to assets
- Economic Calendar showing important events
- Detailed research reports by MorningStar
- Risk analysis for portfolio positions
These tools integrate seamlessly across web and mobile apps.
What is Etoro Forex Trading
Etoro allows trading 15 major forex currency pairs alongside stocks, crypto, and commodities. Here are key aspects of forex trading on Etoro:
Spreads & Leverage
Etoro offers variable spreads that are marked up from interbank rates. Typical spreads range from 1 pip for EUR/USD to 3 pips on AUD/NZD.
Leverage up to 1:30 is available depending on regulations across countries. This allows traders to control bigger positions.
Execution Quality
Etoro uses cutting-edge ECN connectivity via top liquidity providers to ensure tight spreads and fast execution with no rejections even on volatile news events.
Forex Trading Tools
Specialized tools for forex traders on the platform cover:
- Live Forex Calendar showing economic events
- Forex trading signals system
- Auto-chartist identifying technical patterns
- Latest forex news and market analysis feeds
These provide actionable insights on forex market opportunities.
Hedging Capability
Etoro has enabled hedging capability allowing a forex trader to hold both buy and sell positions on the same pair simultaneously. This provides flexibility to adjust overall exposure.
Overall, Etoro offers a reliable forex trading experience aided by competitive pricing, robust tools and hedging flexibility.
Etoro Trading Pros & Cons
Pros
- User-friendly web and mobile platforms
- Low fees
- Copy trading capability
- Access to multiple assets – stocks, crypto, ETFs etc
- Secure platform with negative balance protection
Cons
- Does not offer options or mutual funds
- Limited research resources beyond basic analysis
- Customer support response times can improve
How to Sign Up on Etoro for Trading
Signing up on Etoro to start trading is quick and convenient through either the web or mobile app:
- Visit the Etoro website https://www.etoro.com or download mobile trading app
- Click on “Join Etoro”
- Enter your email and setup username and password
- Type in personal details like name and contact information
- Complete the identity verification process
- Make the first deposit electronically via multiple payment options
- Explore the platform and start trading!
The account opening form is intuitive requiring basic details. Verification involves submitting ID proof which is completed within minutes after fast automated review.
Overall, getting started on the Etoro platform is seamless allowing new users to begin investing in just a few clicks.
Etoro Customer Support
Etoro provides customer support via the following channels:
1. Email Support
For general inquiries, write to their email – service@etoro.com. You will receive a response within 1 business day usually.
2. Live Chat
For instant help from agents, access 24/7 live chat facility by clicking on the Contact Us option while logged into your Etoro account.
The friendly support staff is available round the clock to provide quick answers or solutions. During peak volumes, there may be some waiting time before connecting to an agent.
3. Help Center
Etoro has a detailed Help Center section with FAQs, articles, and tutorials about trading, deposits, platform navigation, etc. This allows you to find answers instantly without contacting support.
Go to Etoro Help Center @ https://help.etoro.com/s/?language=en_GB