eToro is now one of the biggest, popular and well know trading platform (broker) for financial markets around the world, with over 360,876,710 trade opened on etoro their clients using the platform. To get access to 100% stocks with zero commission fees, trade and invest in major top stocks, ETFs, indices, commodities through CFDs and also to trade cryptocurrency pairs. In addition their user can benefits from copy trader technology to automatically copy their trading portfolio performance.
What is eToro?
Etoro is a trading platform (broker) for digital assets which include stocks, indices, ETFs, commodities and cryptocurrencies with over 15 years into financial markets with good reputation around the world the company called itself the “world’s leading social trading network”. The company was established in the year 2007. With more than 20 million users worldwide in 140 countries
eToro Pros and Cons
Pros:
- User-friendly online broker (trading platform)
- Trade thousands of assets with tight spreads
- 100% commission-free
- tradable assets including stocks, indices, ETFs, cryptocurrencies, forex, and more
- payment method include debit/credit card, e-wallet, bank transfer, and paypal
- Benefits from social trading and copy trading
- Regulated by the FCA, ASIC, and CySEC (financial regulators)
Cons
No enough technical analysis tools for advanced trading’seToro Tradable and investment Assets
Stocks
The eToro trading platform can gives you access to thousands of stocks to buy from any stocks market place including best Us exchange NYSE and NASDAQ , Frankfurt, London, Paris, Madrid, Milan, Zurich, Oslo, Stockholm, Copenhagen, Helsinki, Hong Kong, NYSE, NASDAQ, Lisbon, Brussels, Saudi Arabia, and Amsterdam
The eToro platform has something called fractional ownership this is a serious things for modern trading which paves the way for small investment.Example: Let say you’re an etoro user and you want to buy an expensive stocks that will cost at least $10,000 for one single stocks.
Then you only have $90 investment in your etoro account, the etoro fractional ownership will allow you to have a fractional percentage of $90 for that $10,000 stock. Which is really amazing for small investor. In addition to that benefits it mean if you have an investment of $100 in etoro accounts you may buy 5 or more different fractional stocks.
The eToro platform also allow their user to trade stocks through CFDs on short-term with a leverage. This trading Stock CFDs allow you to enter a short-selling position. Its means that you can profit in the event a stock goes down in value.
Cryptocurrency
The etoro platform allow their user to buy cryptocurrencies and hold it for a long-term investment. But there are limited numbers of cryptocurrencies on etoro right now only 26 crypto that you can buy and hold. However, the platform keep adding more cryptos on their list this in line with the market damand of such coins.
In addition to buying and holding cryptocurrency the eToro allow their user to trade cryptocurrency through CFD instruments. You have crypto-to-fiat pairs. This means that you are trading the exchange rate between a fiat currency and a cryptocurrency with a minimum investment of $50 and the commission fees is depend on the crypto you are trading but the range is from 0.75-2.9%
Example BTC/USD, BTC/GBP
Also you have crypto-to-crypto pairs. This means you will be trading the exchange between two cptocurrency currencies.
Example: Bitcoin and Etherium (BTC/ETH)
It’s important to know that, the minimum staking in etoro platform is $25 this is applicable to both trading and buying the cryptocurrency under the etoro fractional ownership tool.
Forex
The etoro user can trade forex in different market session that mean you have assets to major and minor pair of currency to trade.
ETFs
The etoro user can invest in ETFs, but the minimum stake for ETFs in etoro is $50
Commodities
The etoro user can trade commodities this can be done through leveraging CFDs, the minimum trade size when buying and selling commodity CFDs on eToro is just $50.
Indices
The etoro user can trade major and minor indices in their platform.eToro Commissions and Fees
below are the breaking down of commission and fees, but there is no fees attach to buying or selling(trading) in etoro platform whatever the kind of digital assets
|
Asset |
Commission |
|
Stocks |
0% |
|
Crypto |
0% |
|
Forex |
0% |
|
ETFs |
0% |
|
Commodities |
0% |
|
Indices |
0% |
|
|
|
Below are the breaking down of non-trading fees in eToro trading platform
|
Fee Type |
Charge |
|
Open an account |
FREE |
|
Platform fee |
FREE |
|
Inactivity fee |
$10/month after 12 months |
|
Deposit fee |
0.5% on non-USD deposits |
|
Withdrawal fee |
$5 |
Stamp Duty
Etoro charge zero commission fees for stamp duty, compare to other brokers who charge 0.5% stamp duty for buying UK stocks exchange.
Spreads
The spread which is the difference between the buy and sell price of an asset, this will vary throughout the day. The etoro will charge you an average commission fees of 0.2% for trading major stocks like NASDAQ or NYSE and even lower than that for trading major index like gold and many more. But in the case of cryptocurrency trading the eToro will charge you an average of 0.75-5%. Commission fees, the fee is based on the kind of crypto you are have trade.
Deposit and Withdraw Fees
Deposit
The eToro will charge a 0.5% commission fees for deposition fund, except for US customer
Withdraw
The eToro will charge a $5 commission fees for withdrawal for every customer with no exception of your location. This is applicable to any types of etoro payment method a $5 fees will be charged.
Inactivity Fee
The eToro charge $10 fees for inactive etoro accounts for 12 month inactivity. This inactivity work only if you have fund in your account and without having any assets in your portfolio for 12 month this fees will be charge. In the case of your account is empty or having an assets in your portfolio but without doing anything in eToro platform this fees will not be charge.
Overnight Fee
Overnight fees is charge if your trading on CFDs, and you keep your position open overnight a commission fee will be charge. The etoro platform will be charging you overnight fee based on the digital assets you trade, the amount of leverage you used and the staking.
eToro User Experience
The eToro platform is user friendly for both experience and novice trader/investor it’s quick and easy to find what you’re looking listed on their site and you can even use a search box to navigate what you want. The graphic interface is so clean
eToro Social Trading
The etoro social trading bring all the trader/investor together to communicate, to chart, like and comment in a post, share some idea, know the best traders and investor what there are doing, add your favorite trader and investors in your watchlist. This is also allow you to learn from the best trader and investor in their platform.
eToro Copy Trader
The eToro copy trade allow their user to copy an experienced trader from their site. But it’s important to know that the minimum per trade is $200 with zero additional fees. how it work just you need to choose a trader/investor you want to copy and with a single click of a button, you can start mirroring their positions automatically with the option of a stop-loss level to limit potential loss in case the trade is not in your favour.
eToro Charting Tools
The eToro trading platform is easy to use for novice or inexperienced trader, this make the platform user-friendly. But there is no advanced tools for technical analysis for experienced trader who need technical tools before trading.
But the etoro provide a comprehensive report on fundamental analysis itself on major stocks to helps their user understand what is going on the financial markets. Such as forecasting whether the stocks is a buy, sell, or hold. You can view the prices targets and hedge fund ratings.
eToro Account Types
The eToro offer three types of account for their user which include standard account, specialized account, and the corporate account.
Standard accout: this is a default account etoro offer for anybody who register on their platform and the minimum amount to invest in etoro is $50 and $10 minimum amount for trading and $200 to use etoro copy trade.
Specialized account: this type of account is design specify for those who need such an accounts like a Muslim peoples who try to avoid haram and looking for halal. To open a specialized account you just need to contact eToro to get this opened for you. The minimum deposition for specialized account is $1000.
Corporate account: eToro allow you to open corporate account with a minimum deposition of $10,000
eToro App
The etoro mobile app are user-friendly it work similar to etoro website the mobile app is compatible with both Android and IOS devices and is available for download at google play store for Android user and Apple store for iPhone user. With the eToro mobile app you can buy and sell any digital assets and even do some trading.
eToro PaymentsThe eToro platform allow the payment method through the debit/credit card, e-wallets and local bank transfer.
Below are the supported debit/credit card, e-wallet and bank transfer payment type:
- Visa
- Visa Electron
- MasterCard
- Maestro
- Paypal
- Skrill
- Neteller
- Local Bank Transfer (only for selected countries)
- Interntional Bank Wire
The withdrawal method is the same thing you easily withdraw your fund through the payment method you deposited to etoro platform
eToro Minimum DepositThe minimum deposit at eToro will depend on where you live.
- The minimum first-time deposit is $200 for major Non US traders
- US based - this stands at just $50
- A small selection of nations need to meet a minimum deposit of $1,000
- Islamic accounts require a minimum deposit of $1,000
- Corporate accounts require a minimum deposit of $10,000
eToro Bonus
The etoro offer some bonus for their user through referral program, this mean as an etoro user if you invited someone to etoro platform and opened, and invest in etoro. You will earn a bonus of $50 for each new customer you invited through your unique referral link.
eToro Demo Account
The eToro platform offer a Demo account for their user to explore their site and get well known to their site and for practicing different strategy. The eToro demo account come with a $100,000 virtual fund, and if you’re out of fund you can reset it to refill back to $100,000 virtual money.
Open eToro Demo Account
· The eToro platform offer 24/5 customer support service,
· Live chat with support team
· Twitter handle at (@etoroteam)/twitter-for any needed assistance on your account
eToro Safety and Regulation
The eToro platform is safe and secure, the company is almost 15 years in the financial business with a good reputation worldwide. The company was regulated by the three financial regulator.
- UK Financial Conduct Authority (FCA)
- Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
In addition to that for US-based traders, eToro is also registered with the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).
You don’t need to worry about losing your investment eToro have been fully regulated with strong financial regulatory bodies standing to ensures that your capital is protected at all times.
How to open eToro Account
· Go to eToro website, click on the button marked “join Now’ or “trade Now”
· Fill all the relevant personal information provided by eToro including name, home address, and date of birth, national tax number, and contact details. To open a new trading account
· Read etoro term and condition and privacy policy before submit your information filled, then
· Submit your information by clicking the “sign up” button.
· Then etoro will ask you to upload your valid mean of identification (ID) issued by government to verify you. Which is known as KYC (Known Your Cutomer).
How to Start Trading with eToro
Step 1: Open an Account
Visit the eToro website and complete the registration process. This will require you to enter some personal information, such as your name, home address, date of birth, national tax number, and contact details. The detail as I mention in the above
Step 2: Confirm Identity
Confirm identity mean KYC (known Your Customer) you need to upload your valid mean of identification issued by government this including ID card, valid driver’s license, national ID etc.. You also need to provide a proof of residency document. Such as utility bill.
Step 3: Deposit Funds
This can be done through the following payment method
- Debit Card
- Credit Card
- Paypal
- Skrill
- Neteller
- Bank transfer( this work only for specify countries)
Step 4: Find Asset
Use the search box at the top of the page to find your favorite asset you want to buy. The search box will bring you that digital assets.
Step 5: How to Buy Asset
You will now need to complete a simple order form to complete your investment or trade. Simply enter your stake into the 'Amount' box and click on 'Set Order' to complete the order.
Step 6: How to Sell Assets
Your position will remain open until you decide to cash out. When you are ready to sell on eToro, head over to your portfolio and find the respective asset. Then, once you click on the 'Sell' button and confirm the order - the position will be closed.
The funds - at the current market value of the asset you sold, will be placed into your eToro cash account. You can use the funds to invest in other assets or make a withdrawal.
Visit eToro site
RISK DISCLAIMERS
This website includes information about cryptocurrencies, (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. knowaboutcryptocurrency.blogspot.com encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. All contents on this site is for educational, and informational purposes only and does not constitute any financial advice. Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. Knowaboutcryptocurrency.blogspot.com may receive compensation from the brands or services mentioned on this website at no additional cost to you.
Risk Warning: Trading CFDs on leverage involves significant risk of loss to your capital.
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