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eToro Online Stock Brokers Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
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Founded in 2007, eToro is an online investing platform that gives customers access to a wide range of assets, including stocks, commodities, ETFs, and cryptocurrency. The company offers commission-free trading, no management fees, and a social network of over 20 million users. Its unique CopyTrader feature allows investors to duplicate the portfolios and investment strategies of top traders on the platform. eToro maintains offices in multiple locations around the globe, including Hoboken, New Jersey.
 
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How is eToro rated?

Breakdown

4.0/5
Investment Products
4.0/5
Features
4.0/5
Pricing and Fees
4.0/5
Customer Support and Reputation

Overall Rating: 4 / 5 (Very good)

eToro offers investors access to over 2,000 assets, including stocks, commodities, ETFs, and cryptocurrencies. The company's services are suitable for beginning investors, market-savvy traders, and everyone in between. Customers can choose to manage their portfolios independently or invest in ready-made, balanced portfolios according to their level of risk tolerance and specific industry interests.

For investors who appreciate and like to participate in social platforms, eToro offers a connection to more than 20 million users. For beginning investors, that means you can learn from more experienced traders as you hone your own investment strategy. You can talk about the latest market trends, You can even adopt another investor's strategy lock, stock and barrel, using eToro's innovative CopyTrader feature.

eToro eliminates some of the obstacles that traditionally have kept consumers from investing in the market by providing zero-commission trading and fee-free account management and by eliminating rollover fees. The company offers an economical way to invest for customers from an array of financial backgrounds.

eToro Features

Features - 4 / 5

eToro offers a simple, time-saving way to invest. You can access the platform online or via mobile app. You can invest in ready-made balanced portfolios if you wish, which is a great way for beginners to get started. Or you can choose your own assets to maintain greater control of your finances.

In many ways, eToro works like other online stock brokers, using automation to reduce the costs of investing and giving investors access to a range of assets. When compared to competitive platforms, eToro's range of assets is slightly narrower than many. However, you can invest in over 2700 stocks, more than 50 cryptocurrencies, 33 commodities, and more than 200 ETFs. That's plenty to keep the average investor busy, but more experienced traders might find themselves feeling a bit limited.

eToro's standout feature is that it's a social platform. When you become an eToro member, you're connected to more than 20,million other traders. Traders educate each other, share tips, and provide the social support many consumers crave. You can view millions of other traders’ portfolios, stats, risk scores, and more.

What's more, eToro maintains a list of top traders, if you find one you respect or shares your values, or, to put another face on it, has been doing very well in the markets, you can simply duplicate that top trader's portfolio and strategy. That feature is called CopyTrader. When you use the feature, every move your guru makes will be replicated in your portfolio.
Portfolio Management
Self-Directed
Managed
Robo
Fully Automated
Investment Products
Stocks
ETFs
Crypto
Types of Accounts
Membership
Brokerage
Mobile App
Yes
Margin Lending
No

Financial Advisors

eToro does not offer investors direct support from a team of financial advisors. It offers ready-made portfolios that are based on sophisticated research. In addition, since eToro is a social platform, members may rely on other traders for education, tips, and more.

eToro Fees and Commissions

Pricing and Fees - 4 / 5

eToro eliminates many of the fees associated with trading. The company offers zero-commission trading and fee-free portfolio management. You can roll over funds from your outside brokerage accounts without charge.

eToro does charge per-trade fees, which vary by asset class. Fees are based in part on "spread"—the difference between your bidding price and the asking price on any asset. These fees can add up, so bid carefully.

In addition, if you use leverage—essentially a temporary loan from a brokerage house—to purchase assets, you will be liable for the amount of your investment plus the money you borrow to purchase the asset. Leverage can be helpful when you want to act on a trade quickly to take advantage of an expected increase in a stock price, for example. Toro permits different leveraged positions for the various asset classes it permits you to trade through its platform. Remember that financial markets are volatile and every investment involves risk. Using leverage to invest carries more of it.
Trade Cost/Commission
eToro doesn't charge commission fees.
Minimum to Open Account
$100
Fees
Inactivity Fee
Trade Fees

eToro Financial Strength and Customer Experience

Customer Support and Reputation - 4 / 5

Customer support is a little thin at eToro. The company doesn't provide a phone number on its website, but you can use an online form to contact the company. Contact is also available for members only via live chat. The company does not state its customer service hours on its website.
Year Founded
2006
SIPC Membership
Yes
BBB Rating
C
Trust Pilot Rating
4.2 out of 5
Live Help 24/7
No
Customer Support Hours
eToro offers live chat on its website for customers only. Members and non-members can access a limited help feature online.
Contact Methods
Email
Chat
Social Media
Date Collected
2022-02-15

Company Profile

Full Name
eToro Online Stock Brokers
Company Website
https://etoro.com
Headquarters
221 River St., 9th Floor, Hoboken, NJ, 07030

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