Min. Deposit: $50
EUR/USD Spread: Variable
Regulation: FCA, CySEC
Accepts US Clients: No
Platforms: eToro platform
Web trading: Yes
Mobile trading: Yes
Live chat: Yes
Currencies accepted: USD and several others
Overall Rating: 4.04/5


eToro is a relatively new forex brokerage firm that is gaining popularity in recent times. This forex broker has become one of the first few brokers to introduce social trading. Newbie traders are encouraged to trade with confidence by simply copying the trades of experienced traders and investors. Traders whose trades are being copied will also receive a secondary income. However, the risks associated with forex trading are not reduced just because you follow the path of a successful trader. eToro provides easy access to trade commodities (CFD), indices, stocks and currencies. eToro now manages more than 4.5 million users in 170 countries.


The operating company eToro Europe Ltd is an authorized company that is regulated by CySEC (Cyprus Securities Exchange Commission) under license number 109/10. The eToro UK is regulated by FCA (Financial Conduct Authority ) with license number FRN 583263. eToro also complies with the requirements of MiFID (Markets in Financial Instruments Directive). eToroUSA was regulated by the National Futures Association (NFA). However, eToroUSA is not active. So, eToro doesn’t accept clients from the USA.


It is safe to trust a forex broker licensed by authoritative bodies. eToro with its CySEC and FCA registration proves to be one of the reliable forex brokers you can use. The most prominent feature of eToro is social trading. You can copy the trades of other traders. Now, even though eToro ranks the traders based on their performance, you can't simply rely on a trader to always deliver high performance. When you want to copy a trader, always remember that past performance is not the right measure of future results.


According to the regulatory requirements, licensed and regulated brokers must maintain their user funds in segregated user accounts. eToro also complies with these requirements and so, your money is safe. Also, all the transactions are carried out through encrypted servers which will protect your sensitive information. eToro allows any trader to copy any trader inside and outside of the community. Trading details are shared, but the actual amount you trade and your account balance are never shared with other traders. So, you don’t have to worry about someone stealing your account data while you allow other traders to follow you.


eToro provides a demo account and real account for all traders. The demo account is loaded with virtual money and any profit or loss you make can't be withdrawn to your actual account. Once you gain confidence in your trading skills, you can start trading with real money. eToro recognizes traders with large risk capital and large trade volumes. Premium account users can enjoy a host of specialized services and products. To qualify as a premium member, you have to have a net deposit of $20,000 in the past 11 months. This net deposit is calculated after subtracting the withdrawals from the deposit amount. This allows traders to organically grow their account to avail premium services. You can also qualify as a premium member if you have a $20,000 equity at the end of the day. This equity is calculated by adding your balance, invested amount and profit or loss. Premium members get a special deposit bonus based on the amount of money deposited. An exclusive Payoneer credit card is provided for deposit and withdrawals. Weekly market analysis videos will be helpful in trading. Premium members can also get a direct access to eToro trading room. It also provides free access to Trading Central Platform. Premium members will also get a personal account manager and Neteller VIP program.


eToro introduces seasonal bonuses and offers for premium members. Now, premium members can refer their friends and get up to $1000 by inviting just 10 friends. The friends will also receive a $200 deposit bonus for the first deposit greater than $500. The promotions are exclusive for members and premium members always receive better offers.


The most important feature of eToro is its trading platform, Copy Trader. It is available as a web base platform and a mobile platform. Copy Trader allows you to simply copy the trades of any trader of your choice. The trading platform has an inbuilt search feature that allows you to search for traders of your choice. When you find people you like you can follow them and copy their trades. You only need to click on the Copy button to start trading. There is no cost to copy any trader. When you copy a trader, the trades are copied in less than a second. This allows you to view the same prices as the parent trader. However, this can change during extremely volatile market conditions. At any given time, you can copy 20 different traders and investors. You can allocate funds for each trader you copy from the same trading platform. You can also manually execute trades on your own apart from copying other traders. When you copy trades, you can always cancel the order at any time you want before the trade is executed. When you let the Copy Trader to copy the trades, you should understand that the trades are copied proportionally. The same trade size is not used because it can result in depletion of your account balance. Sometimes, your trade may not contain whole numbers and this is for your own benefit. The Copy Trader platform encourages communication between traders. You can start commenting on a trade and engage in enlightening conversations. You can follow a trader and ask questions about specific trades. The eToro trading community is supremely helpful because the success of the forex broker is completely reliant on the success of social trading. If you want to become a professional trader using eToro, it is possible easily because you will get excellent opportunities to interact with some of the best traders in the industry.


To facilitate clients from all over the world to deposit funds with ease, eToro provides multiple deposit and withdrawal options. You can deposit funds through credit card, bank wire transfer, and many other methods. However, the deposit methods may not be available in all the countries. The minimum deposit requirement also varies with the deposit method. You can deposit funds in USD and various other currencies. You have to pay a withdrawal fee for every withdrawal depending on its type.


eToro has a variable spread and the minimum spread for EUR/USD is 3 pips. These spreads vary over time according to market conditions. You also have to pay overnight fees for eToro. The fees are charged at the closing. Every currency pair has a different fee depending on the trade executed. Again, the fees depend on market conditions and trading activity.


eToro provides a public feed of the trading activities of popular investors. The investors are ranked based on different criterion with a focus on total gains. When you follow a trader, you will also receive a private feed. You can also get customer service by calling on phones or sending an email. The online guides are exhaustive and useful for beginner traders. You can also use a live chat feature.


eToro charges a wider spread compared to other forex brokers and you also have to pay overnight fees. The spread remains the same for all types of traders. There is no downloadable version of the trading platform. Moreover, there are no bonuses offered all the time for new users. When you want to learn from other traders and easily copy their trades, eToro stands out as an excellent social forex trading broker. The trading community is very useful in helping others because parent traders also receive a secondary income. If you can develop your trading skills with a willingness to help, eToro is an ideal forex broker for you.