Is eToro A Good Broker in 2021? Reviews & Fees

Israel-based eToro has been operating since 2007 and enables customers to trade with products such as stock, crypto, ETF, forex, and CFD. The broker is a good alternative, especially for cryptocurrencies and social trading.

The broker does not charge a commission for stock and ETFs from their European customers, while to others have low fees. In contrast, forex fees are high. Still, it can be said that trading fees are generally low. There is also an inactivity fee and withdrawal fee for all customers.

The minimum deposit in eToro is 200 Euros and you can choose ways such as credit cards and electronic wallets. In addition, the broker offers a demo account service for new clients. And one of its outstanding features is that it offers a social trading experience.

Is eToro A Safe Broker?

eToro is regulated by some financial authorities:

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

The first two of these are top-tier authorities, CySEC provides average trust. In contrast, it does not provide investor protection for cryptocurrency trading. The broker is not listed on a stock market. It also offers negative balance protection to clients from EU member states. And it does not disclose its financial information to the public and does not have a banking license.

eToro’s Fees

While eToro does not charge stock fees from EU customers, it charges low stock fees from customers outside the EU. The broker generally charges low fees for CFD trading. In addition, it takes withdrawal and inactivity fees. The withdrawal fee is $5 and there are high fees for forex trading.

Deposit is free for eToro and you can use a credit card, electronic wallet, bank transfer, PayPal, Skrill, Neteller and WebMoney. In addition, the broker offers customers only one account base currency; USD.

eToro’s Product Portfolio

The eToro product portfolio is average. There is not a wide variety for Stock CFD, currency pairs and commodities. But it is more advantageous in ETF CFD, stock and crypto. You can trade with 47 currency pairs, 13 stock index CFDs, 6 commodity CFDs, 1900 stock CFDs, 145 ETF CFDs and 17 cryptos via the broker.

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