Broker Review: eToro
Licensing and Regulation
eToro is licensed and regulated by CySEC (Cyprus Securities and Exchange Commission), the FCA (Financial Conduct Authority) and the ASIC (Australian Securities & Investment Commission).
eToro provides brokerage services to around 8 million global customers from 140 countries.
Account Management - Minimum Deposit
New traders at eToro can open a live social trading account with a minimum initial deposit of just $200.
In addition to eToro’s CySEC and FCA regulatory oversight, this broker keeps all of its customer information secure at all times. Additionally, the broker uses advanced Secure Socket Layer technology for the authentication of users and data transfers.
Etoro stands at the forefront of social investing and is coinsidered as the leading online broker for traders who value such model. Together with its newly integrated trading and social investment platform and mobile app, this broker is capable of providing traders with excellent opportunities in this unique field of social trading. Lately, it had put its emphasis on cryptocurrencies and even included a mobile wallet for trading and sending funds.
eToro’s social trading platform allows users to invest in a variety of assets. Traders can follow and copy other traders, or choose to invest in a CopyPortfolio. Apart from that, eToro has a very special product called a CryptoPortfolio, which allows traders to invest in the world’s most popular cryptocurrencies.
Markets, Assets and Products
In addition to eToro’s market analysis and updates, which are provided by other traders on the platform, they offer a diverse selection of educational and conceptual educational tools, such as videos, webinars, articles and eBooks.
AvaTrade features a comprehensive education center with a diverse selection of informational tools and resources for anyone who would like to learn about Forex and CFDs. Taking advantage of these educational resources (fundamental concepts glossary, economic indicators, webinars, video tutorials, eBooks) is what allows users to trade al of their platform instruments with much useful guidence.
Customer Service and Support
eToro’s customer support in available in 9 languages and is reachable via an online helpdesk. However, there is no option for live chat or phone support.
In addition to the company’s excellent educational program and all inclusive social trading platform, eToro’s most striking feature is its online financial trading community.
At a Glance
• eToro is regulated by top tier financial authorities. It offers an extensive network of social trading features, has an established reputation within the industry, and has no share policy on user’s data with third party platforms.
• eToro’s spreads and roll-over fees are higher than average and the performance data of traders is something that requires some improvement.