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Written by: Gyula L. Updated: Dec 2022
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eToro app

The eToro app is simple, easy to use and designed to help beginners, providing a very user-friendly trading experience. It is available for both Android and iOS devices and provides all of the functionalities that are available on eToro’s web platform, including the popular CopyTrader and Smart Portfolios features. You can open and fund an account, choose assets, trade them, monitor your portfolio and withdraw your money back to your bank account, all using just the mobile app.

Let’s take a look at how eToro’s app compares to the apps of similar brokers:

eToro mobile app vs. similar brokers
eToro Trading 212 XTB
Mobile app rating (5 is the best) 4.9 stars 4.9 stars 4.4 stars
User-friendliness Great Great Great
2-step authentication Yes Yes No
Biometric authentication Yes Yes Yes

Let’s see all the pros and cons of the eToro app.

eToro app
App store ratings

It’s safe to say that both Android and iOS users like the eToro app, with most of them rating it 4 or 5 stars. However, the average rating of the eToro app is somewhat lower in both stores than those of its direct competitors.

Apple App Store

The app is well maintained, several fixes and improvements are published monthly. The current rating on the UK store is 3.8 out of 5 stars based on more than 7,700 ratings.

Android Play Store

Similarly well maintained as the Apple variant, out of more than 120,000 reviews it has a rating of 3.9 out of 5, with most of the reviewers rating it 5 stars.

Here’s how this stacks up against the apps of XTB and Trading 212 (rating and downloads based on Play Store data, update frequency based on App Store data):

eToro XTB Trading 212
Average rating 3,9 4,4 4,6
Amount of downloads 10M+ 1M+ 10M+
Frequency of updates Monthly Multiple times a month Multiple times a month

eToro app
Overall look and feel

The app definitely has a modern look and feel to it. This means that the buttons and other items are easy to touch because they are big enough, the screens are not too busy and it’s very responsive in terms of speed. On the first couple of uses the various highlights and alerts that tell you about new features and products (like recently redesigned screens, a new Money app, etc.) can be a little annoying, but they are not overwhelming and they come up only once.

eToro mobile app assets
eToro mobile app

eToro app
How to install

The eToro app can be found in the official Apple and Google app stores. It’s also a good choice to visit the official eToro website and navigate to the store of your choice from there. This is much safer, as you can be assured that you will download the genuine version, while simply searching in Google may take you to some unofficial versions, especially in the case of Huawei users.

Once you are in the app store you selected, search for eToro – look for the app with the green icon with the white “e” sign with horns (‘toro’ is Spanish for bull). eToro has another app as well called eToro Money, which is a different story entirely; it is an e-wallet where you can also store your cryptocurrency coins.

eToro app
Buying assets

The easiest route to buy something, like a stock, is from your main Home screen in the app. No matter how you customize your app, you’ll have the ‘Discover’ menu at the bottom. You can start from there, and just follow these steps:

  1. Click the `Discover` button.
  2. Click on the Search bar on top.
  3. Enter the name of the asset, like “Tesla” - you can use the ticker as well, e.g. TSLA.
  4. Click the `Trade` button.
  5. Set the amount for your trade.
eToro mobile Discover
eToro mobile search
eToro mobile buy

A couple of notes for these steps:

  • At the top of the screen under ‘Set Rate’ it says ‘at Market’ - this means you’ll buy the stock at the market price that it is traded at the second you hit the order button. If you change this to ‘Rate’ in the top right corner, you can set the price at which you want to buy the stock. eToro will buy the stock for you when the given price is reached.
  • When you set the amount, you can choose between `Units` and `Amount`.
    • ‘Unit’ lets you give how many shares you want to buy, i.e. 5 Tesla shares - in this case the money you’ll pay will be this number multiplied by the actual price of the stock.
    • ‘Amount’ allows you to set how much you want to invest in the given stock. E.g. “I want to invest $100 in Tesla” - in this case this figure will be divided by the actual price and you’ll end up having as many shares as your amount will allow.
  • Stock exchanges have opening hours and they are not open 24/7. If you want to buy an asset that is traded on a stock exchange (like Tesla, which is traded on the US NASDAQ), and you place an order outside of these trading hours, your order will be executed when the market opens. You can still place your order at any time though, just keep this in mind.
  • If this is your first trade after having just opened the account, you won’t have any funds on your account yet. That’s OK, you can still go through the above steps, it’s just that in this case instead of ‘Open Trade’ you’ll see ‘Deposit Now’.

eToro app
The search function

The search function is very intuitive, as it searches not only for stocks and forex pairs but for other users as well. Also, you can use either the ticker sign or the name of the company or asset you are looking for.

One minor annoyance might be that after looking at the details of a result (like a stock), when you click ‘back’ from the details screen your search box will be empty, which means you have to type your search query again.

eToro mobile search

eToro app
Using CopyTrader in the eToro app

CopyTrader is eToro’s social trading feature, which allows you to copy the portfolio of traders who also trade on eToro. You can choose any investor you prefer and copy their trades and investments, even if you don’t have as much money as the trader. The minimum amount you can invest in one trade is $200.

You can reach the CopyTrader feature from the Discover section, right near the top of the Overview menu. By default the CopyTrader page shows you a list of some of the highlighted, most copied, trending and well-performing traders. You can apply various filters (e.g. time period, trader status, return, risk score) to refine the selection and browse and choose an investor that best meets your investing goals.

eToro copytrader

Clicking on a trader, you are taken to their investor page, which provides a good overview of the details of their strategy and past performance. Alse make sure to check their ‘About’ section, where the traders introduce themselves and their strategy (sometimes in their own language, if it’s other than English).

Additionally, eToro also applies a risk score to each trader. There are tons of additional stats for each profile, like trades per week, average holding time,current and past portfolio, performance on charts, and you can also see their detailed profiles as well as their news feed comments. Imagine Facebook profiles, but with fewer inspirational and more market quotes.

The ‘Copy’ button is always visible on the right side which takes you to the ‘Copy this Investor’ screen. Here you can enter the amount you want to open this copy trade with, and you can also set a rule for copying. When this rule is triggered, you will basically exit copying this investor, and your investment will be closed. The closing rule can be either a percentage or an amount, so you can essentially say “stop copying this if its value drops below 50%, or below $20”.

eToro app
Smart Portfolios

Smart Portfolios is a feature that allows traders to invest in a grouping of several assets, such as stocks, cryptocurrencies, ETFs, and even people, bundled together based on a predetermined theme or strategy. This means, for example, investing in a portfolio of Future Payment systems, DroneTech, Renewable energy or cryptocurrencies.

To invest in a Smart Portfolio on the eToro app, go to Smart Portfolios from the Discover menu. Here you will see some highlighted options based on popularity, sector focus, or portfolios created by eToro’s partners. You can filter the selection by choosing some areas you are interested in, or view a list of all portfolios.

After selecting a portfolio, you can dig into all kinds of details on its information page, including overview, statistics, returns, portfolio elements, etc., the same as when you choose a trader to copy in CopyTrader.

Click on the green ‘Invest’ button at the bottom right at any time to go to the order screen. Here, similarly to other investment orders, you can provide the amount you want to invest in the chosen Smart Portfolio, and give a rule on when to stop investing (in either percentage or amount), kind of like a stop-loss order for stocks. Note that the minimum investment amount for Smart Portfolios is either $500 or $5,000, depending on their type.

eToro app
Watchlists, alerts

In the eToro app it is possible to create watchlists to which you can add various assets that you want to keep a track of. So for example, if you see the name of a company on the metro or wherever you are, you can just look it up, and save it to the watchlist. You don’t have to buy anything yet, but you will easily find it later, perhaps when you’re home sitting at your desktop and are in a better frame of mind to make investment decisions.

You can add items to your watchlist either from their individual information pages or from lists where you see the watchlist button. Look for a button with three lines and a plus sign, like at the top right in the screenshot below. You can create several watchlists, and add to them assets (stocks, currencies, indices), Smart Portfolios, or even traders you want to follow with CopyTrading. You can access your watchlists at any time using the Watchlist button in the bottom menu.

You can also set price alerts for assets that you choose. This means that you will be notified when the selected instrument (e.g. stock, cryptocurrency, or forex pair) reaches the price or displays the volatility you set (e.g. $2 price or 2% increase/decrease). In the app settings, under Notifications, you can personalize what you want to receive notifications about.

You can set price alerts from your Watchlists by selecting ‘Set Price Alerts’ in the settings, and then clicking on the bell icons displayed after each instrument. Alternatively, you can go to the information page of any instrument, where you can set a price alert for that asset by clicking on the More Actions button in the top right (three dots under each other).

eToro app
Using a demo account

A demo account is available in the eToro account, where you can safely practice trading without risking real money using a so-called paper balance. This demo option allows you to become familiar with the app, and also see how these investments work and experience how to place orders and try out different trading strategies.

You can switch between the ‘Real’ and ‘Virtual’ accounts in the eToro app by going to the main menu (click the icon in the top left corner) and choosing between ‘Switch to Virtual/Real’ at the bottom.

eToro app
FAQ

Is eToro a good app?

Yes, in both app stores (iOS and Android) it has good ratings and BrokerChooser has also found it clean and easy to use, with useful features that make everyday trading easy for beginners and more advanced investors alike.

Is the eToro app safe?

Yes, the eToro app can be considered safe. Safety should always be an important concern with any stock app you are thinking about using. The main thing to check is the broker's regulation – in the case of the eToro app, the provider eToro is licensed by top-tier regulators like the UK’s FCA, ASIC in Australia, and CySEC in Cyprus, meaning that there are measures in place to protect investors.

Client funds are kept secure in separate top-tier bank accounts and all of their personal information is guarded under SSL encryption. So if eToro went bust, your money should be safe. eToro also requires that anyone using their stock app must upload identification documents.

The eToro app also offers a more secure login via two-factor authentication (2FA) which requires you to enter a verification code sent to your mobile phone via SMS in order to access your account. This provides an additional layer of security.

Read more in our expert analysis on eToro's safety.

Is the eToro app available on Android?

Yes, the eToro app is available for Android. You can download it to your Android devices from the Google Play Store.

Is the eToro app available on iOS?

Yes, you can download the eToro app in iOS to your iPhone, or in iPadOS to your iPad, from the Apple App Store.

Does the eToro app have two-factor authentication?

Yes, you can set the eToro app to require two-factor authentication (2FA) as an option. There is also an option to turn on biometric authentication (Face/Touch ID), which can make logging in more convenient. 

What languages is the eToro app available in?

The eToro mobile app is available in 19 languages: English, Spanish, Italian, German, Russian, Chinese (simplified), Chinese (traditional), French, Arabic, Polish, Dutch, Norwegian, Portuguese, Swedish, Czech, Danish, Romanian, Vietnamese, Finnish.

Is eToro available in my state in the US?

The eToro app is available in almost all US states for stocks and crypto trading, with some exceptions. At the time of writing, these exceptions included the states of Hawaii, Minnesota, Nevada and New York, as well as territories such as American Samoa, Guam, and Puerto Rico. Make sure to check the dedicated page on eToro's site for the most up-to-date situation.

Author of this article

Gyula Lencsés, CFA

Author of this article

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex, and derivatives markets. He joined BrokerChooser in 2020 and his aim is to make finding the best brokers in a rapidly changing investment world as easy as possible.

Gyula Lencsés, CFA

Head of Content

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex, and derivatives markets. He joined BrokerChooser in 2020 and his aim is to make finding the best brokers in a rapidly changing investment world as easy as possible.

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

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