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eToro Review 2024

Written by
Gyula L.
Fact checked by
Updated
4d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Web trading platform
Product selection
Regulated and trusted. Tested via live trading.
55,083 people chose this broker
Available in United States

Why choose eToro

eToro stands out as an excellent choice for beginners, thanks to its user-friendly app and competitive fees. I've found their service ideal for investing in stocks and ETFs. What sets eToro apart is its superior copy-trading feature, which outperforms similar services from other brokers. However, it may not be the best fit for short-term traders, as its CFD fees aren't as competitive.

CFDs are banned in the US. If you are a US resident, you will not be able to trade CFDs at eToro.

  • Free stock and ETF trading
  • Seamless account opening
  • Social trading
Overall score
4.8/5
Minimum deposit
$10
Stock fee
Low
Index CFD fee
Average
Withdrawal fee
$5
Account opening
1 day
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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal

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S&P 500 CFD spread

Fees

Score: 4/5
eToro offers free stock and ETF trading, while forex fees are low and CFD fees are average. On the negative side, there are non-trading fees, such as a $5 withdrawal fee.
  • Low trading fees
  • Low forex fees
  • Free stock and ETF trading

We compared eToro's fees with two similar brokers we selected, Trading 212 and XTB. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of eToro alternatives.

Commission-free real stock and ETFs

It’s extremely great as eToro has commission-free US stock trading.

Broker
US stock
eToro
$0.0
Trading 212
$0.0
XTB
$0.0
eToro stock and ETF commission

This is valid for all countries, but for clients from Australia commission-free trading only applies to US stocks. Note that with the free feature, you're buying the real stock, not a CFD product, and you cannot use leverage.

Trades that involve stocks not traded in USD (like UK or European stocks) will be converted to USD at the actual market prices by eToro, without taking any commission or markup. What's more, eToro will also absorb any tax duty that might be due if you trade on the UK market.

Low FX fees

All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 1.0.

Broker
EURUSD spread
FX commission per lot
eToro
1.0
No commission is charged
Trading 212
1.0
No commission is charged
XTB
0.8
No commission is charged
eToro forex spreads and commissions

Average index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.8.

Broker
S&P 500 CFD spread
eToro
0.8
Trading 212
1.1
XTB
0.5
eToro index CFD spreads and commissions

Low inactivity fee, low withdrawal fee

eToro charges $10 per month after one year of inactivity, but simply logging into your account counts as an activity. There is also a $5 withdrawal fee.

Broker
Inactivity fee
Withdrawal fee
eToro
$5
Trading 212
$0
XTB
$0
eToro inactivity, withdrawal and other fees

Other commissions and fees

Low stock CFD fees: the commission for stock CFD trading is the following - 0.15% spread per side.

Low options fees: trading German index options is charged as follows - Not available.

High spot crypto fees: at eToro, crypto trading costs 1% of trade value.

Low margin rates: the USD annual margin rate is 8.3%.

Broker
Apple CFD
Vodafone CFD
eToro
$2.0
-
Trading 212
$0.2
$0.4
XTB
$2.9
$3.9
Misc. fees compared with other brokers

Safety

eToro is regulated by top-tier financial authorities like the FCA, the SEC, ASIC and CySEC. However, it is not listed on any stock exchange and does not have a bank parent.
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
  • Financial information is publicly available
Read more

Deposit and withdrawal

Score: 4.1/5
Depositing money is easy, with a lot of available options. On the negative side, there is a $5 withdrawal fee. Also, as only USD accounts are available, you may pay a high conversion fee if you deposit or withdraw in another currency, like EUR or GBP.
  • Credit/debit card available (in US, only debit card)
  • User-friendly
Read more

Account opening

Score: 5/5
Account opening at eToro is seamless and very fast, and the minimum deposit is relatively low for most countries.
  • Fast
  • Fully digital
  • Low minimum deposit
Read more

Mobile app

Score: 4.9/5
eToro's mobile platform is well-designed, intuitive and considered safe thanks to the two-step and biometric login functions.
  • Two-step (safer) login
  • Good search function
  • Touch/Face ID login
Read more

Web trading platform

Score: 4.4/5
eToro offers a user-friendly and well-designed web trading platform, where social trading is also available. On the other hand, the platform's customizability is limited.
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
Read more

Product selection

Score: 3.9/5
At eToro, you can trade CFDs and forex, as well as real stocks, ETFs, and many cryptos. Innovative services like social trading and Smart Portfolios are also available.
Read more
“This constantly evolving brokerage is suitable for new investors, though its educational and research offerings are slim. I found that clicking on research links or help screens spawned additional browser tabs, and it became hard to find what I was looking for. The platform is simple and easy to use for trades, though, and there are no fees for stocks, exchange-traded funds, and options. The “Copy Trade” function lets you follow other traders and, as the name suggests, copy their transactions if you’d like. Crypto trades are subject to a 1% fee on top of the spread between bid and ask. eToro says that you can trade stocks from 17 different exchanges, but the total number of stocks offered is currently around 3,200, so it’s not the entire universe of available products.”

FAQ

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Author of this review

Gyula Lencsés, CFA
Gyula Lencsés, CFA

Gyula is a former analyst expert and Head of Content at BrokerChooser. With over a decade in finance, he led content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. He opened real-money accounts, executed transactions, and engaged with customer services, offering firsthand assessments. Prior to BrokerChooser, he managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. His goal: simplify the hunt for top brokers in a dynamic investment landscape.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit eToro eToro USA LLC; Investments are subject to market risk, including the possible loss of principal
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