Important: eToro is not a binary options broker.
The broker eToro is famous for their social trading, although you do not have to engage in social trading at the eToro platform – it does work for traditional non-social trading as well.
The eToro trading platform is filled with features that makes it very easy to follow and copy the actions of other traders – and have other traders follow you.
eToro is licensed by CySEC in Cyprus and by the Financial Conduct Authority in the UK.
Is eToro suitable for micro traders?
It depends how you define a microtrader. While some binary options brokers will let you deposit as little as just a few dollars, eToro requires a first deposit of at least 50 USD in most countries. This forms a threshold for the truly small-scale traders. Also, minimum trade size is 25 USD which is higher than with many other binary options brokers.
Maximum trade size is $100,000.
Please note: Some countries have a lower or higher minimum first deposit than the standard $50. Always check applicable rules for your country. One example is Israel, where the minimum first deposit is $10,000.
Types of trading
You can not do binary options trading at eToro, but you can trade CFD:s, stocks, forex, ETFs, commodities, and indices. Through the big selection of CFD:s you can gain exposure to a wide range of underlying assets. Just as with binary options, CFD:s allow you to gain exposure to an asset without actually owning it.
The stocks list at eToro contains over 250 companies.
Examples of cryptocurrencies that you can gain exposure to at eToro: BTC, ETC, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, XTZ, DOT, MKR, DOGE, SHIBxM
CopyTrader is a feature that makes it very easy for you to copy other traders as the open and close positions. This can be a great way of learning more about specific fields of trading. When searching for traders to copy, you will be provided with plenty of information about the candidates, such as portfolio and risk score.
Through CopyTrader, you can also elect to allow other traders to follow you. eToro provides perks for traders who generate enough copy trading.
eToro has its own proprietary trading platform, which is filled with nifty tools for the social trading.
The platform is easy to use, and targets hobby traders and new traders rather than experienced professional traders. You do not need to be a seasoned online trader to quickly understand the ins and outs of this platform.
Mobile apps are available. The apps give you access to the same markets and social features as when you trade on a stationary device.
Before you make any deposit, we suggest you sign up for the free eToro demo account to see if you like what eToro has to offer. The demo account comes filled with $100,000 in play-money, so you can carry out play-money trades on the platform and experiment with the various tools and features without risking any real money.
Signal service is not available.
Deposits and withdrawals
Examples of accepted transaction methods are
A downside with eToro is that they will charge you for withdrawals.
A withdrawal below $200 costs $5.
A withdrawal in the span $200 – $500 costs $10.
A withdrawal above $500 costs $25.