June 4, 2021

eToro Stock Investment Review

Etorro main logo horizontal green text


Etoro Company Investment Review

Founded in 2007, popular platform eToro has more than 15 million users in 143 different countries in all regions. The United States was recently added to that list.

This broker has made its name through an industry leading social investing platform, supporting an innovative interface and facilitation that allows users to duplicate the trades of investors. This allows for beginners to have an alternate way of learning the industry.

While eToro runs multiple assets within the brokerage. They have listings for stocks, commodities and forex trading in most other countries. On the day of writing, U.S based customers can trade only cryptocurrencies inside the platform. The company plans to expand offerings inside the U.S, but have not indicated a date of implementation.

Etoro has a good stock purchasing platform. You can compare it with our list of the top 5 Stock Platforms.

Etorro Mobile app displaying coin price menu

Platform And Product Rating Summary For Etoro

92% Overall

Investors will have the ability to mirror investments made by other traders. eToro’s social trading platform is a suitable offer for investors who have little time, enjoy an illustrated interface or would like an alternative way to learn investing. The Latter is done using the aforementioned social trading platform.

 With 18 cryptocurrencies to buy and trade, eToro has a moderate selection. This benefits those who wish to trade in popular, trusted coins.

99%
Fees
90%
coin options
99%
user interface
85%
customer service
95%
security
99%
Trading Platform

Etoro Has Low Minimum Fees

Creating an account with eTorro is simple and can be completed in little time online. Once you’ve verified your information, it may take up to a week for your identity documents to be approved and your account officially opened. U.S. residents can open an account for $50. eToro uses Plaid to connect a nominated bank to your personal trading account.( This is why documentation and identity verification is necessary) In some countries outside the U.S., you can fund an account with a credit card.

U.S. account holders are only permitted to opening cash accounts. This has been stated by the company that these restrictions will change in the future.

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eToro holds the best fee structure. You can compare their fees with some other brokerages by visiting our top 5 crypto brokers and exchanges.

Pros

  • Low Trading Fees 
  • Simple Account Setup
  • Excellent Mobile Experience
  • Social Trade Platform is revolutionary

Cons

  • Does not serve Entire U.S.A  
  • U.S Residents are limited to a cash account
  • Low customer education

Trade Experience

Placing trades is an easy process—you simply select the “Trade” button while viewing the coin in on your watchlist. There is a large “Buy” signal button on your portfolio listings. To sell, click or tap the drop-down arrow and select ”Sell” inside the selected list. Here you will be prompted or advised to sell your whole positions, but you cannot sell off a portion of an individual lot. For example, if you buy $245 of Bitcoin and then go to sell it, you must close the entire holding instead of a fractional one. $30 for example. 

Some U.S residents will have the ability to impliment a stop loss to any coin or coin pairing. This is reported to only be available in select residential areas. Be sure to have a look at this if you are a keen user of the "Stop Loss" function.

Mobile Trade Experience

The apps on desktop and Mobile are similar in regards to color, interface and context. Placing a trade on mobile is as simple as on desktop or tablet. Having both functional desktop and Mobile apps is a good benefit for investors who are away from home often or have a mobile dominant investing device ( Makes most investments on either mobile over desktop.)

This multi - function and similar interface can curb some of the familiarity pains that come with some apps that are optimized differently depending on which device you choose. Making the switch or integration becomes more challenging. 

Order Types

Market Orders are the only available option for the U.S client. There are no conditional order selections at this time. Some stop-limit orders can be placed when opening a following trade. You may set a stop loss order for purchases you have already made. You may not set a stop loss or limit order when placing a trade.. 

The Costs depend On The Asset Class you Are Trading.

  • U.S. clients trading cryptocurrencies pay 0.75%-5.0%, this is dependent on the coin type being traded. This cost is placed at execution and lacks transparency. 
  • No fees for long positions when buying and selling. There is a 0.18% fee for short selling.
  • An inactive account will accrue a $10 dollar inactive fee if not used in 12 months. 
  • There are no fees for withdrawing funds for U.S. customers, However you must be withdrawing a minimum of $30 USD. 
  • Anyone residing outside the U.S, the withdrawal fee you can expect is $5
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Research Amenities

The research Hub on eToro unfortunately, does not exist. There is charting and coin data available for technical analysis. There are also brief company overviews. The news feed is populated with posts by other eToro platform, users. There is not a trade generator or any insight section at the time of writing.

Portfolio Analysis

The portfolio analysis is lacking in diversity. The portfolio display show what you currently hold and the change in value since the position was opened. You can rearrange the available columns in the Portfolio listing and replace certain filters to show a limited amount of information. Customization is limited to a few key data points and optimization factors.  

Education

The education content and available tools are on the light side for U.S. customers.  If you navigate to the educational section found within the dashboard drop menu. You will find articles and posts regarding investing and trading, eToro wallet, deposits and withdrawals, and some other account level tutorials. There is a search option with limited functionality. However, we recommend searching "Fintech" and going through that training.   

Customer Service

Accounts with capital below $5,000 can access help online, the option to submit a customer service ticket to eToro’s help center. You can speak a live agent. The eToro’s Club, which will activate with a $5,000 balance or more, are provided an account manager. 

Accounts superseding $25,000 are at the Platinum Club level and beyond, get perks that include prioritized customer support. The level of customer support below this is limited. Some tickets can take up to 14 days to be assigned and resolved.

Our Conclusion on the eToro Trading Platform.

eToro offers an attractive platform that is simple to use for the novice trader—until you need that sweet customer service. Research offerings are light and you’ll have to do some digging, and spawn a lot of new browser tabs, to access the education available.  

Overall the experience to be expected is one that has taken years of refinement. Customer service inquiries are likely to be sent more by people who have never used a crypto platform in the past. The trading and acquisition of coins is simple and the fees are great.

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Nathan Rosevear

Nathan offers insights and reviews around the highest rated precious metal IRA specialists. He is an investor in gold and silver industry.
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