- RegulationsCySec, FCA, ASIC. MiFID II Compliant. Registered with FinCEN
- Minimum Deposit$200 for global users. $50 for USA Users.
- InstrumentsCFDs, Forex, ETFs, Stocks, Crypto, Indices, Commodities
- PlatformsProprietary Trading Platform, Caters for Social and Copy Trading
- Demo AccountYes
- Mobile AppsiOS, Android
- Copy TradingYes
- LeverageUp to 1:400
What we can tell you about eToro
eToro is one of the oldest online brokers in the world, established in 2006, operating in multi geo locations across the world and is well known for its unique, “eToro Social Trading” Platform which served hundred thousands of clients throughout the years.
Licensing & Regulation
In the UK it’s authorised and regulated by the Financial Conduct Authority (FCA) and its European operations comply with the Markets in Financial Instruments Directive (MiFID).
eToro’s brokering services are provided by eToro Europe and are regulated by the Cyprus Securities & Exchange Commission (CySEC). In Australia, eToro AUS Capital Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC), and regulated under the Corporations Act (Commonwealth).
For more information on the licensing and regulation of this broker, read here.
The Best at: Social Trading
eToro made its name in the trading industry by perfecting the social/copy trading vertical. What’s that you might ask? Copy trading is a feature that allows people to mirror the trading endeavours of another trader.
By logging onto eToro’s proprietary platform, traders can choose from a wide selection of experienced and successful traders and automate their trading activity to shadow theirs. This feature is extremely popular amongst beginners who want to invest but don’t have the time, knowledge and experience to follow and analyze the market, so someone else does that for them.
Something to Consider
Whilst eToro is top of the list when it comes to the social element of trading, there are a few things to consider. The trading costs and withdrawal fees for forex trades are matching and sometimes exceeding industry averages whereas the online-only customer service portal is both a blessing and a curse.
Any question you might have can be addressed through an online chat or a ticketing and queue system. This might be something more experienced traders struggle with as the immediacy of solving a problem over the phone is unmatched.