eToro Review

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eToro is a well established online broker, that was originally founded in 2006. Officially owned and operated by eToro (UK) Ltd., with an address of: One Canada Square, 42nd floor, Canary Wharf, London E14 5AB United Kingdom.

Contact phone number in United Kingdom is: +44 203 150 0308, and customer support email address is: salesuk@eToro.com.

For complaints or withdrawal problems with brokers, read this.

eToro Reviews

Our review of eToro finds that they are one of the largest social trading networks online. Offering a highly customizable and easy to use Forex CFD trading platform, investors have three options when it comes to investing with this broker.

  • Trade Markets is where you can trade by yourself, using their unique trading software.
  • Copy People is where you can browse for investors to follow. There are many filters available to find the right trader to follow and copy.
  • CopyFunds is a new feature where they have put together groups of investors in which you can “invest” and follow them like a mutual fund or ETF.

You have literally hundreds of underlying assets available for CFD trading, including Major and Minor Currencies, Crypto Currency, Stock Market Indices, and Popular Commodities. Global Stocks (America, Europe, Spain France and Italy) and ETFs are also available.

Starting in May 2018, investors from the United States will be able to trade 10 Crypto Currencies.

The minimum deposit for a new trading account is $200.

eToro Review Crypto Currency CopyFund
eToro Review Crypto Currency CopyFund

eToro License & Regulation

When the Scam Broker Investigator reviews Forex and CFD brokers to determine if they are a scam or legitimate company, we check to see if they are licensed regulated.

  • eToroUK is regulated by the Financial Conduct Authority (FCA) in United Kingdom and their reference number is 583263.
  • eToro Europe is licensed and regulated in Cyprus by CySEC with license number 109/10.
  • ETORO USA LLC is a member of the National Futures Association, ID# 0382918.

There are many benefits in only trading with a regulated broker, including financial insurance schemes, and protection from the government regulators.

Compare eToro Brokers

There are so many CFD Trading Forex brokers to compare online, and many investors get lost with so many choices. You can see some popular Forex brokers here.

EasyMarkets is a popular CFD broker, that is licensed in Australia and Europe, see here. Their CFD trading platform is web based and easy to use. Get a Free Demo Account, register here.

24Option are South African and European licensed Forex brokers, with a very simple and easy trading platform. First try their Free Demo Accounts, signup here.

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Are you currently an investor with eToro? Please share your experience with this broker in the comments below.

9 responses to “eToro Review”

  1. Glenn Parry says:

    $100 minimum investment but most trades need $1000’s and a significant charge to withdraw when you realise

  2. Daniel Merkwürdigliebe says:

    eToro is not really a scam, but it is not safe either. They easily accept your deposit before notifying you about their requirements for a proof of address, and this proof is harder to provide than you might think. For instance, all my bills are paid for by my employer (I travel a lot), and so it is all in their name, making it impossible for me to provide what they needed. Of course, they had already accepted my deposit, so if I transfer back any money (I had decided not to continue with a trading platform with practices like these) I will be hit with their insanely high transfer fees.
    It gets worse though, because like many other peoples stories, they had conveniantly limited my account, which means I am now unable to transfer out my money, and will have to wait for them to send back the initial deposit to the original source (my bank account).
    They are in no hurry to do this, because every day now (it’s been a week) a new person from their customer service calls me to ask me for my proof of address, and every day I have to go through the same story with them.
    The last two times the caller ensured me that they had made a note not to call me about this again, but guess what I received today, once again, a call to ask me about my proof of address.
    All I want for them is to close my account, and send me my money back, and I will accept that they will take their rediculous transfer fees, but I will never ever deal with a company like this again.
    There is a very good reason why, when I looked into this, eToro has a hard time managing to get even 2 out of 5 stars, and this same story comes up time and time again.

  3. P D Munch says:

    RIPP OFF Trading online with eToro learned a bad lesson fast , this is a online trading platform they have a clandestine auto sell when you open a trade position that makes millions for this company , what broker terminates your position with no notification or client choice , THIS IS WAHT THEY DO Auto sell if you trade and dont study minutely the stop loss and profit options, which ARE NOT EXPLAINED ON THE TRADE TICKET !!!! being a long time trader I am used to all platforms that give you full choice and notify of pending action needed, NEVER SAW SOMETHING AS THIS!! they sold my trade with no notice to me whatsoever very sneaky…. WATCH OUT YOU CAN LOOSE YOUR PANTS

  4. Yuchen Pan says:

    Do NOT deposit any $$ into this scam!! I wire transfered $3500 3 weeks ago and so far no reply or any confirmation from etoro at all. Emailed to support with bank swift but still no reply. Basically my money just vanished! Trust me you want to avoid etoro like plague…beware!

  5. Mark Louw says:

    I also have been caught by this scam. I deposited $200 into etoro, made a profit of $100= $300. They simply reset my counters to 0.00. When I complained after about the tenth time, they refunded me $80. now to withdraw this , they will charge me $25! = $55! Bastards!

  6. alex says:

    Hello!
    I have BIG PROBLEMS with these eToro ONLINE FRAUD PLATFORM. I invested all my money, they took them realy fast, but when I tried to withdraw them, they were keep sending me messages telling :

    ,, eToro Customer Service
    Kindly note that we are currently experiencing a high volume of chats. In order for us to assist you in the most efficient way possible, please open a ticket via our Customer Service Center: etoro.com/support or you can check out our help page https://www.etoro.com/en/help

    I have already 3 tickets and 3 weeks passed,THERE IS NO CUSTOMER SERVICE, in wich they say all the time:

    ,,Thank you for your inquiry.
    Customer Service has opened a new ticket with the reference number: 1799294
    We are investigating your query and we will provide you with an update as soon as possible. ”
    or something else :
    ,,Kindly be advised that we are still working on your case ID: 1799294
    We apologize for the inconvenience and appreciate your patience.
    Best regards,
    eToro – Customer Service Team.

    I have used eToro services and I can say they are BIG LIARS. The EXCHANGE RATE IS HUGE, THE FEES ARE HUGE, you only LOOSE MONEY and you can’t get non of it back.

  7. Rigi says:

    Hi

    I have also had issues similar to everything i read below, i am still awaiting them to return money to my account after my positions was closed due to their non existent customer support who failed to verify my account after more than a month. They are not interested in helping they are only interested in taking your money. This is by FAR the worst trading platform (if you can even call it that) out there. STAY AWAY!!!

  8. sarah says:

    etoro.com is a scam and highly manipulated they change the price whenever they want here is the proof https://www.youtube.com/watch?v=cxyIIgh6cx0&t=74s share it with your friends

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