Cryptocurrencies for trading
BTC, XRP, ETH, LTC, BCH + 5 more
Credit Card, Wire Transfer, UnionPay, Skrill, Neteller
Worldwide (USA not supported)
Guarantee stop loss
Trade Costs: Spread 1,5% to 5%
This review on eToro will focus on trading in crypto currencies and what products eToro offers for traders who are interested in crypto currencies. This includes many products that are available for both crypto radar, stock traders, commodity traders and more. We will describe eToro answering the following questions:
• What is the etoro platform?
• What are the eToros trading products?
• What are eToros crypto products?
• What is eToro geo accessibility?
• What are the eToro fees?
• What is the eToro app?
• How does the eToro sign up and login work?
• What is the eToro Club?
• What is the eToro Trading Academy?
• What are the eToro pros and cons?
Note: eToro does not accept US traders. Read more about what crypto trading platforms accept US traders.
What is the eToro Platform?
Etoro is a social trading place with registered offices in the UK, Cyprus and Israel. eToro’s main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK, China, Australia and Cyprus.
eToro is a trading venue that offers a modern and easy-to-navigate interface. Above all, it is a platform for social trading and a network of investors. eToro offers innovative, beginner-friendly products with transparency. eToro started focusing early on being a platform for social trading where you can learn from, communicate and even copy other traders.
Etoro Trading Products
eToro offers trading Cryptocurrencies, ETFs, Stocks, Indices, Commodities, Forex Currencies. It especially offers social trading or copy trading. We go into more detail on what this means through this review but what it basically means is that that traders on eToro can collaborate, learn from each other and copy each other’s strategies. Which means, you can call it a trading community.
eToro´s Crypto Products
eToro offers different formats of trading in crypto currencies and a certain number of markets. 65 different trading pairs for crypto currencies where all the large crypto currencies are represented. The fleat trading pairs are crypto-USD but eToro also offers some crypto-crypto markets and some crypto-fiat markets for JPY, EUR, CAD and some more. In the table below, you can see all 65 crypto markets at eToro.
2 CopyPortfolios which means that eToro has a basket of several crypto currencies that you can invest passively.
CopyPortfolio, CryptoPortfolio: This is a diversified crypto portfolio focusing on cryptocurrencies with a market cap over $ 1 billion and an average daily trading volume or over $ 20 million throughout the month. The weight of each component is decided proportionally according to its market cap, with a minimum of 5%. This is a portfolio management product at eToro.
eToro Geo Acessibility
eToro does not accept any users in the US (residents and citizens), Japan, Brazil, Turkey, Canada (including Ontario & Quebec), Democratic People’s Republic of Korea (DPRK), Iran, Cuba, Albania, Serbia, Sudan or Syria.
eToro does not charge fees on cryptocurrency trading. eToro has a spread on its crypto trading that makes them make money. The spread varies from 0.75% and depending on the market you are trading. Generally speaking, the spread is larger the smaller the market is and this is normal in any trade. Below is a table on the various spreads March 2019.
eToro offers a mobile app for its customers that is available for both Android and iOS.
eToro Sign Up, Verification and Login
It is a simple procedure to sign up with eToro and start trading with their platform.
eToro is a serious company with high transparency and verification is mandatory part of the registration process for the eToro trading platform.
Their regulated platform is subject to some requirements like all serious CFD platforms. This means that eToro must verify all accounts.
To verify your account they need Proof of identity (POI):
- A passport is the preferred proof of identity, as it is the document which will be quickest for the eToro team to process. Alternatively, you can use a driving license or any other government-issued ID.
- Proof of address (POA): Your POA document should contain your full name, address and an issue date, which should be longer than 6 months.
You can use the eToros app to scan the documents so they are uploaded directly to the platform.
eToro club is a loyalty program where you are rewarded by the platform depending on the size of your account balance.
- Silver: $ 5,000 – Silver members receive access to a dedicated account manager.
- Gold: $ 10,000 – Gold members receive access to live webinars, market analysis updates and eToro credit line.
- Platinum: $ 25,000 – Platinum members receive a full range of benefits and services, including a personal analyst on demand, a Financial Times subscription, exclusive access to special events and much more.
- Platinum+: $ 50,000 – Platinum+ members receive no withdrawal fees, access to private trading signal platform, and eToro debit card, and first access to new product, features and trading assets.
- Diamond: $ 250,000 – Diamond members receive no exchange fees and are invited to participate in the eToro Diamond Gala Event.
eToro Popular Investor Program
The eToro popular investor program means you can make money if other traders want to copy your trades. You can earn up to 2% annual fee. For example: If 1000 traders copy you with a total of $ 10 million (AUM), you will earn $ 200,000 a year. This is paid on a monthly basis. AUM (annual asset under management) means the total capital that other traders have used to copy you.
eToro Trading Academy
eToro offers free courses and learning materials for its customers.
eToro trading experts occasionally hold live webinars where they provide trading tips.
eToro eCourse and Trading Videos
eToro offers free interactive online courses for its customers that include trader courses and investor courses. In these videos, eToro goes through the basic concepts a trader must understand to succeed. They also finish their videos with questions.
eToro Pros and Cons
– You can an make extra money on your trading
– Existence of Innovative products like CopyPortfolio
– Easy to perform passive trading by copying other traders or investing in the CopyPortfolio
– A Mobile app is available
– It is a newbie-friendly interface
– eToro is a transparent company
– They offer free courses via the eToro trading academy
-No support for metatrader
-There is an inactivity fee
From all points of view, we really like eToro. We love the social trading aspect as it makes learning to trade much easier. We have come across other brokers that offer something similar, but we have to admit the eToro platform makes it so much easier to actually pull off copying other people’s trades without the hassle of fiddling with a gazillion settings.
All in all, we really liked the platform, but what really kicked eToro to the top of the list for us was how well the social trading aspect has been done, from the easy of copying other people’s trades to the simplicity and convenience of communicating with other traders. When you’re trading on eToro, you don’t feel like you’re in a glass bubble, isolated from the world, like with most other platforms.