Etoro Review

Etoro Review

In 2007, the now largest online broker platform eToro was founded. Due to the user-friendly interface and low entry costs, it is a hit among novice and experienced investors.

Yet many skeptical people still need to be more about eToro as a web trader. While eToro’s growth speaks for itself, we’ve explored it for you. We have dived into the platform for you to share our eToro review and eToro opinion with you.

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eToro Review: eToro in a nutshell

eToro is an online platform founded in Israel in 2007. Since then, it has become one of the leading online brokers in the world. The CEO since its inception is Yoni Assia. In addition, there are two significant partners at eToro: Ronen Assia and David Ring.

You can trade with eToro stocks, ETFs, and CFDs. This eToro trading is accompanied by a wide range of companies (Apple, Amazon, Tesla, etc.) and the unique aspect of commission-free investments; it is clear why eToro has grown so much over the years.

What also contributed significantly to the growth of eToro is the social and copy trading concept, where you can discuss investments with brokers in a social media environment. In addition, it is also possible to copy assets from successful investors. As a bonus, you can also take over entire portfolios at eToro!

How do you think you could use the eToro platform?

Getting started with eToro Netherlands is easy; we have prepared a short step-by-step plan while writing this eToro Review so you can start trading within a few minutes.

Step 1: Create an account

To start eToro trading, you must first create an account here. You can easily do this via the website or mobile app.

Enter your name, e-mail address, and password in the first step. After you confirm your e-mail address, you get direct access to the demo account. This way, you can practice with fictitious money before starting with an actual deposit.

When trading CFDs with this provider, 81% of retail investor accounts lose money. Please understand how CFDs work and consider whether you can afford to risk losing money.

To start trading or investing on eToro, you must create an account here. You can easily do this via the website or mobile app.

In the first step, enter your name, e-mail address, and password. After you confirm your e-mail address, you get direct access to the demo account. This way, you can practice with fictitious money before starting with an actual deposit.

To start with real money eToro Trading, you must go through a few more steps for verification. To confirm your identity and place of residence, you must upload a copy of your passport or ID and a copy of a bank statement.

Then you must review the short questionnaire that tests whether you know enough about investing to get started. All brokers are obliged to let you go through this questionnaire. You will therefore have to fill in the questionnaire with each broker.

Step 2: Deposit funds

For the use of eToro, there must be money on it. This can quickly be done via your homepage’s ‘Deposit money’ option.

Does eToro support iDeal? Yes, definitely! You can deposit the desired amount into your eToro account via iDeal. Reliability is paramount at eToro; iDeal is the perfect choice for the investing Dutchman.

Withdraw money with eToro in the eToro Webtrader.

Other options are, of course, also possible in the dropdown menu! In your eToro portfolio, you can manage all your stocks in eToro.

eToro Review: How reliable is eToro?

Regarding money matters, knowing whether eToro is reliable for trading is essential.

For this eToro review, we dived in: is eToro scam or trustworthy? In short, they are certainly reliable. Only some people will use a proven unreliable platform when investing, while eToro is still growing strongly. So, whether eToro is a scam is easy to answer.

The broker has been active since 2007. They have been involved in the financial market for over ten years. In addition, they have about 13 million customers worldwide.

Regulations

eToro holds three regulatory licenses:

• Financial Conduct Authority (FCA)
• Australian Securities and Investments Commission (ASIC)
• Cyprus Securities and Exchange Commission (CySEC)

With over 13 million investors and a track record of over 14 years, eToro has proven to be reliable and a good choice for your investments.

Like other brokers, eToro adheres to strict regulations regarding investing and trading. The minimum age for creating an account is 18 years. In addition, you must go through a questionnaire before you can start investing. This shows that you understand all the risks.

Finally, there is also a guarantee fund from the regulator. As a result, customers’ money is insured up to $20,000. Your money is therefore protected up to this amount in the unlikely event that something goes wrong. So to answer the question, is eToro a scam? That is certainly not the case!

eToro review: What can you trade within eToro?

Within eToro, you can invest in many stocks, coins, and ETFs. For this eToro Review, we have overviewed all the resources available when creating an account with eToro. Many different eToro reviews show other numbers; we have extracted the right help from eToro.

Shares

You get access to over 1700 shares of different companies at eToro. This gives you direct access to the shares traded on other exchanges. This also gives you access to international and foreign exchanges such as the NASDAQ and NYSE.

In addition, you will have access to the following international scholarships:

• Amsterdam
• Brussels
• Copenhagen
• Frankfurt
• Helsinki
• Hongkong
• Lisbon
• Madrid
• Milan
• NASDAQ
• NYSE
• Oslo
• Paris
• Saudi Arabia
• Stockholm
• NASDAQ
• NYSE
• Zurich

A significant advantage of the platform is that you do not have to buy an entire share immediately. For large companies such as Amazon and Shell, one claim can easily be between $2,000 and $3,000. Because you can also buy part of one share with this platform, investing in these shares is a lot more accessible.

ETFs

If you have little investing knowledge but would still like to start, you can look at ETFs. When you invest in ETFs, you invest in a basket of different stocks, as it were. This basket often tries to follow a specific index. That’s why ETFs are also called index trackers.

The advantage of ETFs is that you can invest with little knowledge of specific companies. At eToro, you can choose from around 153 different ETFs.

For example, you can buy an index tracker that tracks the entire global economy or invest in a specific sector such as sustainability or Fintech.

Currency

It is also possible to trade currencies within the eToro platform. You have a wide choice of 49 different currency pairs.

When trading currencies, you do not own the currency but trade CFDs. This allows you to speculate on future price changes of one currency against the other.

Raw materials

Of course, it is also possible to trade in commodities. You can choose from all popular commodities, such as gold, silver, and oil. Here too, you can speculate about the future price change. This way, you do not have to own the raw materials but can trade with them.

Do you have any fees with eToro?

If you are going to invest or trade in shares, you will have to deal with different types of costs. To ensure you know exactly what fees you’ll be dealing with, we’ve listed all the eToro fees below. This way, you no longer have to consult different eToro reviews but immediately have a handy, simple overview.

Fees for stocks and ETFs

At eToro, you pay a 0% commission on stocks and ETFs. So you can buy these at no extra cost and sell them again at a profit if the price rises.

Fees for CFDs

As mentioned, you do not have to pay commission on standard investments without leverage. No costs will be charged on your dividend either. CFDs do incur fees. This depends on factors such as position time and spreads. This can vary from 0.014% to 0.024% per day, depending on the day. The following eToro fees are in effect:

Fees for currencies

For trading currencies, the fees are around €0.000005 per day per unit. The spread of this is from 1 to 50 pips. This depends on the currency pair.

Custodial fee

When you use leverage when investing, you pay daily custody fees. These are 2.9% for sales and 6.4% for purchases.

Inactivity fees

Also, if you are inactive on eToro, an amount of €10,- will be debited monthly from your account. You are inactive on the platform if you do not transact for 12 months.

Withdrawal of your winnings

When withdrawing money, a fixed amount of $5 is deducted; for eToro Europe, this amount is 5 euros. Our advice is first to save a reasonable amount so that you have to pay as few eToro fees as possible.

You can easily withdraw your winnings via the platform. You indicate how much you want to be paid out. This amount will be deposited into your account within a few days.

Buying stocks in eToro

Most eToro users use the platform to purchase shares in well-known and lesser-known publicly traded companies at a 0% commission fee. For the eToro review, we also look at this part of the broker.

Advantages of buying shares in eToro

•  You pay a 0% commission fee.
•  Choose from hundreds of shares.
•  Take advantage of dividends.
•  Online access to the fair.

As an online broker, eToro mediates between the client and the major exchanges, facilitating the buying and selling shares at the latest prices. You can buy a claim by using the search function on the website or by clicking on the heading ‘trading markets’.

You can then search for the share of the company you want to invest in (enter the company’s name in the search bar and eToro will automatically take you to the right page) or select a stock from the overview. Then click the trade button and enter the number of shares in the buy shares screen.

In the next chapter, we’ll discuss how, in addition to buying shares in eToro at a fixed price, you can trade stocks even more through this online broker. For example, you can go short or long and use levers.

How to trade stocks with eToro?

In the image, you can see an example where you can start trading on the eToro website. Our experience with eToro is that it is very easy to use!

As discussed, you can use the search bar for different stocks. You will see the current price and additional information when you click it.

In addition to investing in stocks by buying them, you can get started with stock trading on eToro in even more ways. In addition to the standard buy option, you get several other options that can be applied to stock trading.

You can enter how many shares or ETFs you want to buy. When you don’t set leverage, you purchase the assets (the stock itself). Once you set influence, you no longer accept the assets but trade the CFDs.

These are contracts for differences that make it possible, for example, to speculate on a decline in the share or to bet a lot of money with a small amount.

Trading with leverage

Use leverage when you start trading currencies or commodities. By using force, you can increase the value of your trade without needing a higher deposit.

At eToro, you can use the following levers:

• 1:5 on shares
• 1:20 am gold
• 1:30 am Most traded currency pairs
• 1:10 on commodities

Going short & going long

Although you often speculate about a price increase (going long), you can also speculate about price drops (going short) within eToro. As a result, you can always act, even when things are not going well economically.

eToro dividend payout

If you invest in shares or ETFs (exchange-traded funds), you are most entitled to dividend payments when the companies pay them out.

In the case of shares, your shares will be paid out when the company transfers the dividend to eToro. The platform will then pay the premium on your cash balance, and you can withdraw it or invest it again in new shares.

Our experience writing this eToro review tells us that with ETFs, dividend payouts are usually paid out every three months. This is because the collection of shares pays dividends at different times. eToro saves them up and pays them out every three months at once.

eToro Review: Additional features within eToro

Copy trading functionality

At eToro, you can use the handy copy trading functionality. Here you can see a selection of eToro trading experts selected by eToro. In addition, you can also search for investors yourself.

You can then easily copy the strategies of these investors.

Copy Trading feature eToro.

Within the copy trading function, you immediately see information about the trader. For example, a risk indication is indicated per trader, so you know whether they act offensively or defensively. In addition, you get access to the trader’s portfolio, and the average monthly profits are displayed. By writing this eToro review, we have become a big fan of this copy-trading functionality and recommend it to everyone.

Which traders do you follow within eToro?

So you can follow different platform traders and copy their investments. 

Performance is not an indication of future results

His risk rating is 4, which is relatively low. Stroud’s portfolio consists largely of stocks and ETFs.

Social trading

Social trading also allows you to share information with other investors.

For example, each stock has a ‘feed’ where traders can share information and analyze shares.

On the right, you see a trader analyzing the oil market and checking whether oil is a good investment.

The additional information can be valuable when you are just starting to invest or are unsure about buying a stock.

Graphs and statistics

For detailed yet clear charts, eToro is a very strong platform.

You can often look back years at the price of your share and, from there, estimate whether it is a good idea to invest.

In the image, you will find an example. You can easily switch between the different time slots.

Is eToro a safe platform?

As a large platform, eToro needs to ensure the safety of the accounts. After all, it is about the financial affairs of investors. One of the security measures that eToro takes is two-factor authentication. You can set this when you open your account.

In addition, there is also a 256-bit SSL protocol so that your data is encrypted and cybercriminals cannot hack into your account. Your account is also linked to your data, so you can easily prove that the account belongs to you. From this eToro review and eToro experiences, we recommend eToro as a safe platform!

Contact & customer service

eToro’s offices are split into eToro UK, EU, USA and Australia. If you have any questions or concerns, please get in touch with eToro EU.

However, because the company is located in Malta, you can only reach them here via a ticket, 24 hours a day during the week.

Frequently asked questions

How does the eToro portfolio work?

After logging in to eToro, you can easily put money into your investor account by pressing the “Deposit Money” button in the start menu (bottom left). You can now use your account for all your investments.

Frequently asked questions

How does the eToro portfolio work?

After logging in to eToro, you can easily put money into your investor account by pressing the “Deposit Money” button in the start menu (bottom left). You can now use your account for all your investments.

How can I withdraw my balance with eToro?

If you want to be paid, you can do this in the menu on the left side of the watchlist.

1. Select “Withdraw Funds”
2. Choose the amount you want to withdraw (minimum $30)
3. Then click on ‘Send.’

Note: A fixed amount of $5 will be taken from this.

Do I have to pay taxes on my eToro payouts?

No, there is no tax to be paid on your eToro payouts. In addition, opening an eToro account is also completely free.

When can I expect the money withdrawn from my account?

After you have chosen to withdraw money from your account, there is a ‘hold’ period of 7 days. It will then take up to two days to process your withdrawal request. After eToro has processed this, you can expect the amount in your account within a few days if you have chosen an online bank transfer.

How much money can I make with my eToro account?

As with other trading platforms, investing involves risk. As a result, eToro cannot guarantee that you will make a profit. This depends on your trading strategies and investments. It is possible to get a profit from your investments.

eToro review: Conclusion

From our eToro review and eToro opinion, eToro is the broker for the novice investor. With a user-friendly and clear interface, you can start investing quickly.

With a wide range of trading products, eToro offers stocks, CFDs, etc. Your investments are all arranged from one wallet.

Although you do not pay commission on your investments, costs are involved if you want to be paid. In addition, you pay a 0.5% transaction fee when you deposit money into your wallet.

All in all, this eToro Review has given us a good opinion of eToro: Our eToro experiences have shown that it is easy to use, and with the copy trading feature, you can employ experienced investors as a starting point.