eToro is an investment platform with support for Bitcoin, Ethereum, and other popular cryptocurrencies.
The eToro platform is best for active those who want to trade frequently and learn from other eToro users.
eToro is easy to use and great for beginners looking to start active crypto trading. Here’s a deeper look at eToro, its trading platform, and if it could make sense for you.
Quick Summary
- Learn how to trade crypto risk-free with a demo account
- Use CopyTrader to mirror the strategies of experienced and successful traders
- Trade spreads range from 0.75% to 4.50%
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
eToro Details | |
|---|---|
Product Name | eToro |
Product Type | Crypto Trading & Copy Trading Platform |
Minimum Deposit | $10 |
Trade Fees | 0.75% to 4.50% |
Promotions | $10 Bonus |
Pros And Cons
Pros
Cons
What Is eToro?
eToro is a cryptocurrency brokerage with a platform focused on active traders.
The trading platform is intuitive for experienced traders while new traders can use a demo account to learn the system without risking any real money. You can also use copy trading tools and social features to learn from other traders.
Fees are spread-based, which means eToro makes money by maintaining a modest difference between buying and selling rates. eToro US supports 27 different currencies with spreads from 0.75% to 5.00%, depending on the currency.
It doesn’t have the most extensive list of currencies. Still, it offers a unique combination of pricing and features that make it a great choice for beginner to intermediate cryptocurrency traders.
eToro Cryptocurrency Trading Platform
The eToro platform is open and accessible to anyone, even without an account. The dashboard is easy to navigate and you can quickly get to details about your portfolio or any supported currency.
The Bitcoin stats page at eToro
The currency pages include a social media news feed where users can discuss the asset, high-level stats, charts, and eToro research. The stats are not extremely in-depth, and the charts don’t have any advanced features, but the basics are well covered.
While the platform is excellent for beginner to intermediate traders, some experts may find the features limiting. For example, the charts don’t offer overlays or other advanced analysis tools.
A chart for Ethereum at eToro.com
There’s also a mobile app for Android and iOS devices. The mobile apps offer the same features as the web platform, optimized to fit in your hand.
eToro Cryptocurrency List
This isn’t the biggest list of cryptocurrencies around, but it covers the most popular coins. Additional currencies are added regularly. eToro also announced plans to add stock trading in the future.
eToro Pricing And Fees
There are no trading commissions or account fees at eToro. All costs are charged through trading spreads. The platform maintains a slightly higher buy price than the selling price, which is how it makes money.
For example, there’s a 0.75% spread for Bitcoin. If the current price to buy Bitcoin is $60,000 per BTC, the selling price would be approximately $59,550 per BTC. If you buy and sell instantly, you would lose the spread amount. But if you hold and the price goes up more than the spread percentage, you’ll come away with a profit.
The fee varies by currency and goes up to 4.5%, which may be more than you want to pay. Check pricing for the currencies you’re interested in before buying so you don’t get surprised by the costs.
There's a 0.50% fee for moving cryptocurrency holdings from the main eToro app to the eToro Money crypto wallet. There's also a 0.10% cypto-to-crypto conversion fee. However, there's no fee for sending, receiving, or withdrawing cryptocurrencies.
Features For Beginner Traders
If you’re new to crypto trading or just want to kick the tires at eToro, you can start for free with a no-risk demo trading account. When you sign up, your account is funded with $100,000 virtual dollars to trade. If you make a mistake or a bad trade, no harm done.
You can also use a feature to copy other traders on the platform directly. eToro CopyTrader helps you find top-performing traders and copy their trades instantly. If they make money, you make money. If they lose money, you lose money. So make sure you set this up with care if you’re planning to use the CopyTrader features.
There are no additional fees to use CopyTrader, just the spread-based pricing you would pay when trading on your own. However, you'll need at least $500 in your account before you can begin to copy traders.
How Does eToro Compare?
eToro's social trading features set it apart from other top cryptocurrency exchanges. It's also fairly unique in that it supports stocks and ETFs as well. However, it should be noted that stock and ETF trading is currently in beta testing and is still an invite-only feature.
If maximum currency support is important to you, eToro might not be the best choice. And if you're wanting to trade one of the coins that eToro uses a higher spread for, you might be better off choosing an exchange that charges the same fee regardless of currency.
Header | |  |  |
|---|---|---|---|
Crypto Trade Fees | 0.75% to 4.50% | Up to 1.49%% | Up to 1.49% |
Tradable Assets | Cypto Stocks ETFs | Crypto | Crypto |
Supported Currencies | 25+ | 100+ | 50+ |
Wallet | Yes | Yes | Yes |
Mobile App | |||
Cell |
Customer Service
Like other crypto exchanges, eToro prefers for its customers to find answers to their questions on their own by digging through its Help Center. Users can also take vide courses on eToro Academy to become more proficient on the platform.
If you do need personal help, you can submit a support ticket here. Or you can chat with a customer service representative live once you have an existing account and you're logged in.
Is eToro Right For You?
eToro is a unique cryptocurrency trading platform that combines community with active trading tools. It offers relatively low fees on the most popular currencies, though you should stay aware of the spreads for less-popular coins.
Overall, eToro is a solid choice for newer cryptocurrency traders and a good fit for intermediate traders looking to learn from others and up their game. Experts may find a better fit elsewhere. But for most people looking to get started with crypto trading, eToro will have all of the features that they're looking for, and probably more.
eToro Features
Product Type | Trading & copy trading platform |
Asset Types | Crypto Stocks ETFs |
Supported Coins |
|
Min Deposit | $10 |
Copy Trading Minimum | $500 ($1 for each copied position) |
Spread On Trades | Varies by cryptocurrency, from 0.75% to 4.5% |
Maintenance Fees | None |
Deposit or Withdrawal Fees | None |
Minimum Withdrawal | $30 |
Crypto-to-Crypto Conversion Fee | 0.10% |
Transfer Fee (To eToro Wallet) | 0.50% |
Insurance | - No insurance on crypto assets - Up to $250,000 of FDIC insurance on cash deposits - Up to $500,000 of SIPC insurance on stock and ETF investments - Additional insurance of up to $37.5 million for securities and $900,000 for cash |
Security | Aside from your password, account security enhancements include: |
Mobile App Availability | Android and iOS |
Desktop Availability | Yes |
Customer Support Options | Live chat, contact form, helpdesk FAQ |
Promotions | $10 bonus |
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. His work has been featured in online publications including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.