Etoro Review – My Honest Opinion


Review of: Etoro

Use: Social trading website for Forex, Cryptos, Stocks and Commodities



The platform is most useful for new traders that are interesting in finding profitable traders to copy with their own funds.


rating of 3 stars

The only costs born by traders in Etoro are spreads and overnight fees. Etoro is definitely not the cheapest option to use.


rating of 5-stars

Etoro is very easy to use. It feels more like a video game than a trading platform.

I Like

  • Largest amount of profitable traders
  • Noob-friendly
  • Slick customer interface
  • Ability to check social sentiment

I Don't Like

  • Limited chart customisation
  • Fees are a bit on the high side
  • US traders not allowed

My Verdict

Overall I think that Etoro is currently the best social trading site out there. There are cheaper options out there, but Etoro has the biggest amount of profitable traders to copy. 

It is meant for new traders to invest their money with the professionals who know what they're doing. You have over 10'000 profitable traders to choose from. In addition to just copying, you can also learn their strategies and trade on your own if you want to. 

What’s this Etoro thing?

By their own words:

EToro is a social trading and Investing company that allows its users to watch the financial trading activity of other users, copy them, and to make their own trades."

What this means is that you can ethically copy someone else’s trading results – just like back in the good ol’ school days. Except, that getting better grades you can get ideally better trading results.

In order to know who to copy (or cheat off of), you are given a list of traders based on their results.
etoro guide

In addition to how much they have made, you can also see for how long they have been profitable, how much they’ve lost in aday and a lot of other fancy statistics (more on that below).

Key Points

  • Over 5 000 000 real users
  • Users from 170 countries
  • Over 200 000 000 trades opened
  • Founded in 2007
  • Minimum deposit from 50$
  • Max leverage 1:400
  • Platforms: Web, Mobile
  • Custom Free Education
  • eToro Europe regulated by Cyprus Securities & Exchange Commission (CySEC)
  • eToro UK regulated by the Financial Conduct Authority (FCA)

Who is it for?

The site is meant for:

  • People that don’t have the time, motivation or skill to day trade by themselves and would rather trust their funds into the hands of traders that know what they’re doing and have a proven track record.
  • Or for beginner to medium level traders who prefer to have an easy to use platform to perform their trades.

You are to decide which trader(s) to follow based on their performance, trading style, risk level or whatever you like.

forex trend analysis

The traders that others are copying are motivated by small fees that people like you are paying for copying them. These fees are rather low and don’t effect your account much, but if the traders are really good, more people will start to follow them and the income can add up.

NB! It is wise to spread your portfolio between traders to manage risk.

Also in addition to copying others, you are able to make trades on your own. The platform is noob friendly, even Homer Simpson could figure it out.

social trading platform

But is it any good?

What's good about it:
  • Super easy to use - the platform has a game-like feeling. You can add fancy indicators if you want to, but there is no real need for it.
  • Ability to copy professionals - If you don't know what you're doing, you have the ability to copy and follow what successful traders are doing. This way you can learn about their strategies and start making real progress towards becoming a PRO trader yourself.
  • Social sentiment - you get to see what the majority of other traders on the platform are thinking about each instrument.
    sentiment of other traders
  • Solid customer service - I've always had all my questions sorted out in no time. They respond quickly and the advice has always been sound.
  • Quick withdrawals and deposits - No trouble putting your money in or taking it out based on my experience. There are some small fees for withdrawals though, please make sure to read the Fees section on their homepage.
  • Free trading education - They seem to be interested in their clients sticking around and have provided free education on their home page. The lessons are made in video format, so more fun to follow.e toro assessment

What's not so good:

  • Limited customisation - If you are a deep technical trader, you will not be able to put all the indicators or expert advisory services to the platform. MT4/5 is a better choice for you.
  • Platform Fees - While looking for the cheapest broker, eToro might not be for you. Considering that you are allowed to start with just 100€/$, you might not have a much better alternative.
  • Scalping not allowed - eToro such as many other CFD based brokers do not allow doing small short term trades. Focus on a bit longer time periods instead, such as swing trading.
  • Limited amount of instruments - eToro is continuously adding more instruments to their portfolio, although currently their list is in the hundreds, not thousands. If this is an issue for you, you might want to look elsewhere for a broker. For most newer traders, the list is sufficient.

My Personal Experience with Real Money

In my personal experience, I would recommend them to beginner traders to whom this is a perfect platform to learn trading from.

Now remember, this is not meant for scalping, as they do not allow scalp trading. But it is very good to learn how successful traders actually make money and to start trading on your own.

I have been using their platform since 2011, mostly through copying others and making some money that way. I keep my funds separated between 10 traders that I copy and like to keep an eye on what they are doing.

If I have some skin in the game, I've found that I tend to learn a lot faster.

What I would say though, is that if you are not interested in copying others and your aim is to trade only by yourself, there are other platforms that are more advanced.

I’m not going to get into those in this article, but you can try FXCM instead (you need to have 5000$, but if you do, it’s better for pure day trading).

However one thing I especially like about the trading platform is the social sentiment – you can check what most of the traders are thinking about a certain currency/stock.

For example, if I see that majority of traders are long a currency, I tend to start looking for a short position. It is a very good tool for a contrarian trader.

Conclusion - Is Etoro Worth It?

For beginner traders – Yes. I think it’s an excellent resource to get your feet wet in the trading world and learn about strategies that work by copying successful traders. You don’t get to do that with most other brokers. With Etoro you get to see what the professionals are trading and what strategies they are using to become a better trader yourself.

Also if you don’t have the time to follow the markets daily, you just find out which traders perform the best and put your funds to copy their trades automatically. In addition to this passive approach, you can also do active trading whenever you have the time available.

Plus the platform is super beginner friendly, which is definitely not the case with most brokers that are used by the professionals.

For advanced traders – No/Yes.

NO – Because there are better options out there for pure trading purposes, if copying others is not your thing and you only want to focus on trading your own strategy, then I would choose a more sophisticated broker.

YES -  if your strategy is profitable, you could earn extra money from trading through Etoro and having other people that copy your trades. This way you can earn a singificant amount of extra income by becoming a kind of fund manager.

What others are saying about it?

My opinion is one thing, but I'm just one guy. This review is written based on my own experience and research from other blogs and forums. In order to get a more objective review, please leave your feedback below.

Do you have personal experience?etoro feedback
Please leave your feedback below.

Big Thanks to all the contributors!

Have no experience with eToro? I recommend to give them a go. It is one of the best platforms for
newer traders to learn from.


Etoro FAQ

Minimum deposit size depends on your country, but generally starts from 50$.

The main way's to deposit funds to your account are:

  • Credit card
  • Paypal
  • Western Union
  • Moneybookers
  • Wire Transfer

Check the link below for a thorough tutorial on how to  withdraw money to various platforms:

The limit is set at 100, which is probably more than you'll need. 

Yes, since 2016 Etoro offers trading in 5 most popular cryptocurrencies for its' users. The current list of cryptocurrencies includes:

  • Bitcoin
  • Etherum
  • Litecoin
  • Dash
  • Ripple

Unfortunately Traders from the US are currently not allowed due to the regulations that are set by the US government. Check out these good alternatives to Etoro for US Traders. 

This is a very common question. But, the answer is Yes, Etoro is allowed for people from India. 

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Hi I'm Paul Koger, an ex-Prop Trader now trading from the comfort of my own home. My area of expertise is swing trading US equities, Although I have a strong interest in anything that is trading related. In case you want to get in touch - try Twitter @paulkogr or [email protected]


  1. Ease of use


    Fees and Commissions


    Education provided


    I’ve only started with them, but so far so good.
    Deposited 500£ and you were right about the platform, it does feel like playing a game. You need to constantly remind yourself that it’s not, lol

    • Hi Jimmy, thank you for your input!
      May I ask what did you think about their education tools? I see you rated it with a 6.6, but could you ellaborate a bit more on this.
      Thanks man!

  2. Ease of use


    Fees and Commissions


    Education provided


    Customer support


    I am still on demo mode, will deposit some real money soon.
    Have lost some with my own trades on demo, but the trades that were copied, were mostly profitable.

  3. Ease of use


    Fees and Commissions


    I am not sure about the education or customer support, have never used them.
    Ease of use is great, I could figure it out easily. Fees and commissions, well compared to Plus500 and XM, Etoro is about the same so I wouldn’t complain tbh.

    • Hi James,

      Thank you for the input!
      I will look into the commissions of different brokers that are meant for beginner to medium level traders. I’ve noticed that brokers with lower deposit thresholds (<5000$) seem to have similar spreads, quite comparable to Etoro.
      I will look more into this and do a dedicated article on this.

  4. Ease of use


    Fees and Commissions


    Education provided


    Customer support


    Coming from Plus500, the etoro commissions not big. If I trade hold overnite, then some costs add, but also not that many. Education is OK, not the best, but good to start. Customer support was helpful and frendly to me.

    • Thank you for your input, it is much appreciated!
      Also, you are probably comparing the educational part with some other option – could you specify from where did you find the best trading related education. I would like to review it and share it with the blog readers.

  5. Ease of use


    Fees and Commissions


    Customer support


    I think they are Ok for beginner. I wanted to become someone that people could follow too, but the minimum requirement is 10000€. Thats a bit too much for me. Was hoping to get some followers myself, but will have to become better/richer I guess.

    • Hi Thorre,

      Yes, they implemented a threshold for traders that are copyable a few years ago.
      This is actually benefitial for the copiers as there will be less people that have accidentally made big returns on their tiny accounts while having taken immense amount of risk.

      If your system works, you will hit the 10K threshold sooner or later.
      Good luck with your goals!

  6. Ease of use


    Fees and Commissions


    Customer support


    I only use it for copytrading. That has been going well for me, no real experience with trading myself.

  7. Ease of use


    Fees and Commissions


    Education provided


    Customer support


    I tried this via a demo account using proxies, because Etoro is currently not accepting US citizens.
    Do you know any good alternatives that allow US citizens?
    Overall I really liked Etoro, interface was awesome and my demo acc was profitable, hence the eagerness to open a real one.


  8. Ease of use


    Fees and Commissions


    Education provided


    Customer support


    Really love their interface. Easy to use, I can set my stop-losses and where I want to take my profits.
    Having previously used the Metatrader 4 platform, which I found to look like something from the year 1995, Etoro’s platform is like stepping 20 years into the future from where I came from.
    As a beginner, I like it a lot.

  9. Ease of use


    Fees and Commissions


    eToro demo account until now.
    I trade real on Plus500, and planning doing so on eToro, so Friends and others can copy me. I’m blind and can use Plus500 very well, using blind’s assistive technology, screen reader, same with eToro both on web platforms.
    eToro Android and android mobil platforms are not usable for my software, Android Plus500 is usable but not as good for my software.

  10. Ease of use


    Fees and Commissions


    Customer support


    You are right, the interface is newbie friendly. I could easily locate through various currency pairs and learn the ropes in my first day of using.
    Almost feels like a video game compared to the Metatrader 5 platform that I was using.

    About the fees, I haven’t really paid attention to them, I think I should tho. And the customer support was rather helpful.

  11. Ease of use


    Fees and Commissions


    I like the Etoro. Very easy to use.
    Fees were almost same comparing to Ironfx which I also use.
    Looks nice and easy to trade and copy pro-s.