Australia
United Kingdom
Internationally based: Established in 2007 eToro is home to greater than 20 million customers across 140 countries around the world – including its customers in the U.S. is now on this list. But, although eToro has multi-asset brokerages (offering commodities, stocks in addition to forex transactions) within other markets, at present U.S. customers can trade only in cryptocurrencies. The company is planning to broaden the scope of its U.S. offerings in the future.
The place eToro isn’t quite right
Service limited: eToro has limited access to its cryptocurrency service to the 44 U.S. states and Washington, D.C. Although the majority of U.S. residents can sign up for a completely free eToro account to trade virtual, eToro is currently unavailable for trading in actual cryptocurrency for residents of the following states: Delaware, Hawaii, Minnesota, Nevada, New York and Tennessee.
eToro is ideal for:
- Cryptocurrency traders.
- Copy or social trading.
Minimum trade
The minimum amount for trades at eToro is $10. The minimum amount to deposit is $50 if it is done using a credit card, debit card, or connection.
Transaction and trading fees
EToro is charged trading charges through spreads that can rise and decrease in response to market conditions. In contrast to other providers eToro offers round-turn spreads for trading and buying of cryptocurrency assets. Spreads varied between 0.75 percent for Bitcoin trades up to five percent when trading Tezos. The spreads for most cryptocurrency trades vary between 1.9 percentage and 2.9 percent. (Check the site of eToro to see the most current prices.)
The number of cryptocurrency
There are 17 crypto currencies accessible for trading on eToro.
Trade pairs for trading crypto to crypto
Direct cryptocurrency-to-crypto trading isn’t offered for U.S. users. There is however an option to convert cryptos into cryptocurrency similar to Coinbase’s service that is accessible in Bitcoin, Litecoin, Bitcoin Cash, Ethereum and Stellar.
Options for digital wallets and security
EToro offers a no-cost digital wallet that stores cryptocurrency, referred to as eToro wallet. It is available on iOS as well as Android. The cost of converting cryptocurrency to the fiat currency (which is, in other words, U.S. dollars) and the reverse is 5%. This means that could be it costly and eat into possible profits. The minimum amount of transactions is $125 while the maximum amount is $10,000.
Users are able to transfer cryptocurrency from their eToro platform onto their personal digital wallet, however eToro notes coins can only be transferred one waymeaning that the coins that are transferred cannot be returned into their eToro trading system.
Mobile app
The app is available for iOS and Android and has been praised with mostly favorable reviews.
Customer support options
The customer support offered by eToro is limited and offers only email support or a support ticket. In addition, “Club Members” can access customer service via live chat.
Other aspects you need to know
Social trading with EToro’s CopyTrader lets you duplicate and trade automatically in response to the movements from other trader. What it does It is simple: you select an investor that you would like to copy by pressing the button, you will start mirroring their positions in a timely manner (with possibility of setting a stop-loss limit to prevent losses).
The minimum amount for copying an individual is $200 and the maximum is $500,000. CopyTrader users can take up to 100 copies of traders at a time. Even without CopyTrader users are able to view millions of portfolios of other traders including risk scores, stats, and statistics. (While they have access to all profiles around the world, U.S. clients can copy only the profiles of U.S. users).
Is eToro the right choice for you?
For investors in cryptocurrency who wish to follow the footsteps of serious cryptocurrency traders, the social trading platform of eToro is a tempting option. With 17 different cryptocurrencies available to buy, eToro has a greater choice than some of the other U.S. cryptocurrency brokerages.
How can we evaluate cryptocurrency exchanges as well as platforms?
The comprehensive review process of NerdWallet evaluates and ranks the top U.S. currency exchanges and also the newest industry players, employing an interdisciplinary and iterative process. Our goal is to offer an independent evaluation of service companies to provide users with sufficient information to make informed, unbiased choices about which are the best fit for your needs.
| eToro Summary | |
|---|---|
| eToro Details | Information |
| Regulators | ASIC, CySEC, FCA |
| Country |  Cyprus |
| Base Currencies | USD, EUR |
| Type Of Brokers | ECN, STP |
| Trading Platform | Desktop, Mobile, WebTrader |
| Established Year | 2007 |
| Website Language | English, Japanese, German |
| US Clients | |
| eToro Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | 0.03 |
| Commission | |
| Fixed Spreads | |
| eToro Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  PayPal,  Skrill,  WebMoney,  Master Card,  Visa Card |
| Acc Withdrawal Methods | Skrill, PayPal, Visa Card, Master Card |
| eToro Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| eToro Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:1500 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | $50 |
| Islamic Account | |
| eToro Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| eToro Contact & Support | |
|---|---|
| Option | Information |
| Telephone No | 1-800 778 439 |
| pr@eToro.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | eToro AUS Capital PTY Ltd. Level 19, 9 Hunter Street Sydney NSW 2000 Australia. |
