Are forex spreads low at eToro as of September 2024?
When trading forex, the spread – the difference between the bid and ask price – directly affects your profits. A lower spread means lower trading costs. But are the spreads at eToro truly competitive?
No, forex spreads at eToro are high.
Together with my brokerage analyst colleagues, I thoroughly tested the services of eToro by opening a real-money account and executing actual trades on its platforms. Here’s what you need to know about forex spreads at eToro.
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The spreads may differ by currency pair, check them to control your trading costs.
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Keep an eye out for any extra forex commissions.
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Look for lowest spread forex broker available in our top list.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal
Manage your trading budget effectively
Understanding and keeping a close eye on major currency spreads is crucial for managing your trading budget effectively.
Imagine you're trading EUR/USD and you totally get how spreads work – the lower, the better. By choosing a broker with the lowest spread, you save on every trade, boost your profits, and stay ahead of other traders. This means more money in your pocket and better decisions on your next move.
Here are the forex spreads at eToro for major currency pairs:
| Currency pair | Spread | Low / Average / High |
|---|---|---|
| EURUSD | 1.0 | Average |
| GBPUSD | 2.0 | High |
| AUDUSD | 1.0 | Average |
| EURCHF | 5.0 | High |
| EURGBP | 1.5 | Average |
Spreads were collected on Oct 5, 2023.
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eToro USA LLC; Investments are subject to market risk, including the possible loss of principal
Keep an eye out for any extra forex commission at eToro
You're lucky. At eToro, you don't have to worry about any commission fees — your only cost is the spread. What does this mean for you?
So, let's say you buy 1,000 EUR/USD at the ask price of 1.1003 and then sell at the bid price of 1.1000:
- Buy at 1.1003: You spend $1,100.30 to snag 1,000 euros.
- Sell at 1.1000: You receive $1,100.00 when you sell those euros.
The difference? A $0.30. That's your total cost for the trade, courtesy of the 3-pip spread. No extra fees, no hidden charges. If the spread is your only cost and it’s low, think about how much you could save, and then use those savings for anything else. Maybe like buying chewing gum?
See the brokers with the lowest spreads
Check our top list of the lowest-spread brokers. The BrokerChooser team conducts extensive evaluations of more than 100 brokers globally, focusing on critical factors such as regulation, financial stability, customer service quality and transparency of operations.
For more details on eToro, read our comprehensive eToro review for 2024.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
Further reading
- Bid-ask spread - Learn what it is and why it is important
- Are margin interest rates low at eToro?
- eToro EUR/USD spread explained
- eToro GBP/USD spread explained
- Forex trading at eToro: Discover the key features and highlights
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.
