FX Universal Broker Reviews: eToro 7


History and Regulation

21
eToro
was founded in 2006 and in its 10-year history it became “the social trader platform” with the largest following and the best reputation.

The Cyprus-based retail broker operates under all of the most important regulatory frameworks including the ones from the EU, the UK, Australia, and, of course, Cyprus. Although eToro has a US branch it doesn’t accept U.S. traders currently.

Offered Products and Platforms

All the most popular pairs and a great variety of exotic currencies are available with CFDs on indices and stocks as well. Commodities are also part of the offering and you have the option to trade with Bitcoin too. The company puts an emphasis on adding new products all the time.

There is no support for MT4 besides the company’s great proprietary platforms, but mobile trading is highly developed with good analysis tools.

Spreads, commissions and other fees

The broker offers fix, albeit quite high, spreads with guaranteed instant execution even around news releases. You won’t have additional costs but you will have to pay at least 3 pips for a trade. (Upated june, 2017)

Extra features

  • Widespread social feature in the OpenBook
  • Copy Trader for real-time following
  • Managed accounts for extra earnings
  • Automated trading

Our Recommendation

FXUniversal recommends eToro for those who would like to learn from other traders with the help of the intuitive OpenBook social platform. It is definitely not the cheapest option but has a good offering of tradable products and a stable background with an easy account opening process geared towards beginners.

Click here to instantly start trading with eToro >>

Let us know what you think about eToro and rate your experience in the comments section!

User Ratings for eToro

Design
10
Spreads
13
Support
6
Overall Rating
6
Average
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7 thoughts on “FX Universal Broker Reviews: eToro

  • Lui Ferreria

    I have been using this broker for one year. I feel it is a wonderful broker and a very good platform, they process my withdrawals very fast and also offer bonus on deposits. Their platform is simple and I learn and understand easily but I didn’t say that I have not faced any problem with them. I lost all my money the first time but that was because of high leverage I was using and frequent trading.

  • Rifat

    Etoro was a good broker in start but when they established more in business and get more people as their clients. They became greedy and increased their spreads. They have also increased account deposit. Once you could open a small account but now account less than 500 is not good in this company. So I closed my account with them and now I do not recommend them because for me they are very greedy broker.

  • Pips Riffle

    I have been trading with etoro for around a year now. I have lost a lot of money, but mostly due to my own fault.Anyway, so far they have allowed me to withdraw, deposit, and copy other traders without any problem. Not a scam but their “Guru” is not really good.
    If you scan through their list of Top traders, none of them have traded for more than a year as most of the last year traders have closed their accounts. Just look at Santosh Tiwari. Last year she was the top trader but losing 44%…. i had copied only the top trader and so far I’m down to near zero.

  • Dxy Boy

    Etoro is good broker with excellent customer support but one problem with this broker is that their
    webtrader is really bad and I do not often use it for active trade. It is not professional but the copy trading function is good. If you are a new trader you can easily use their copytrade function. I have a real account since beginning of the year. You can earn good money with this broker if you follow your trading strategies properly. I am pretty much satisfied with this broker.

  • Kind Cobra

    Etoro’s old platform was much better than current trading platform. It’s now very “social” trading oriented and is not like a professionally managed account.
    However, you can still find some good traders on there. One thing I don’t like of this broker is that their customer support is not up to the mark as compared to other top brokers .This is a broker for traders who like to use managed account. One thing I suggest is to research carefully before choosing any trader to manage account.
    Withdrawals are also processed successfully two times; it does generally take 2-3 business days.

  • Rick Flair

    I have been trading on the Etoro platform now for just over a year and I started there as a total novice that did not even know what a chart should look like. They have the best copy trading systems in the industry and for new traders it’s a total blessing. There are some very good managers there and one can simply follow them and earn good money. Some people say that their trading platform is slow but I have not experienced anything like this yet. My message to people who say etoro platform is slow is that I think their internet might be slow. So it’s better to rule out any other possibility before blaming the broker. I am an etoro customer for life. Best broker in the world

  • C Ramirez

    Etoro is an average broker. It’s good if you like to follow trades. Their web trader platform is not very good and isn’t very professional. However the copy trading function is good. If you are new in trading then etoro is good choice for you as you can copy trades of some successful traders. I have been using them for couple of months and so far it has been an average broker for me.