85/100
Rating
eToro Crypto
*****
Go to eToro Crypto
Highlights
  • One of the most renowned UK brokers
  • Great for beginner traders
  • Simple and intuitive trading platform

Crypto Trading eToro Review UK 2021

We at BitReview.com have taken a look at one of the most popular e-trading platforms: eToro. And we have put together this eToro 2021 review to shine some light on what the platform does.

eToro is an excellent investing and social copy trading platform. Launched in 2007, eToro is recognised as a safe broker for trading forex and CFDs. eToro makes it easy to find the latest market news and to invest in cryptocurrencies or company stocks.

etoro review uk
Pros & Cons of eToro
  • Commission-free stock investing
  • Invest in multiple assets
  • Ability to automatically copy professionals
  • Ability to invest in a wide range of portfolios
  • The crypto fees are expensive compared to competitors

Security and Usability - A highly secure platform

Opening a new account is easy and can be done online. After that, identity verification usually takes 1–4 days.

Once you log into the account, you will see that the layout is simple and intuitive. A left-hand sidebar provides links, including watchlist, portfolio, news feed and trade markets; and the main area of the screen provides a summary of the key information.

85/100
Rating
eToro Highlights
  • One of the most renowned UK brokers
  • Great for beginner traders
  • Simple and intuitive trading platform
Go to eToro

There is also a help button at the bottom of the left navigation pane, which provides more guidance and will help resolve any issues you may have.

Regarding security, eToro has an optional two-step login, which requires a confirmation on your phone to grant access to your account, providing additional security.

Any money added to your eToro account is held in a segregated bank account. eToro only uses tier-1 banks, which are considered the safest and most secure banks for holding your funds.

eToro is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), and the Australian Securities and Investments Commission (ASIC), and eToro has been operating since 2006, so you can be sure that eToro follows all the financial standards to ensure you funds are managed securely.

How To Trade — a simple and intuitive interface

To join eToro, simply go to eToro.com and click join now. Follow the sign-up process by providing your personal details, banking information and identification. Once everything is confirmed, you will be able to start trading on eToro.

If it is your first time trading with eToro, you will need to deposit some funds in order to be able to start investing. To do this, you will see at the bottom-left of the screen a link titled ‘Deposit Funds’. From that page, you can deposit money using bank transfer, credit card, PayPal, etc. Keep in mind, it may take a few days for your funds to be cleared.

To buy cryptocurrencies, click Trade Markets on the left-hand navigation panel, and scroll down to financial. You will see various cryptocurrencies listed. Alternatively, at the top of the screen there is a search box and you can search for the name or the ticker symbol of what you are looking for – pretty similar to the findings in our CMC markets review.

Once you have made your choice, you can then click buy or sell. If you anticipate the price to increase, then ‘buy’ will be what you want to click. If you anticipate the price going down, you will want to click ‘sell’. Later, when you want to end the trade, you will have to do the opposite. If you bought the asset, you will need to sell it; likewise, if you sold the asset, you will need to buy it to close the trade.

Alternatively, you can use CopyTrader, a tool which automatically copies the trades made by others in eToro. To do this, you can go to Copy People, in the left-hand navigation bar, and choose which professional investor you want to copy. eToro provides information such as the profits, the risk level, and the amount of followers of each investor.

Company
CompanyeToro Ltd
Headquarter24th floor ,One Canada Square ,Canary Wharf London ,E14 5AB ,United Kingdom
Year of Founding2007
CEOYoni Assia
Web Sitewww.etoro.com
Available LanguagesGerman, French, English, Italian, Spanish, Russian, Polish, Dutch, Swedish, Danish, Portugese, Norwegian, Dutch, Romanian, Finnish
Customer SupportLive Chat, Email Support
Email[email protected]
Phone+44 02038687213
Licence109/10
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
PayPal
Credit Card
Bank Transfer
Neteller
Skrill
Show More

Payments - A range of payment and withdrawal options

Once identity verification is complete, depositing money into your eToro account is simple. You can make deposits using a credit card, PayPal, Skrill, Neteller, Rapid Transfer, iDEAL and Sofort.

Generally, the minimum deposit is $200. However, this can vary for some other countries. For example, if you live in Russia, China, Hong Kong, Taiwan and Macau, the minimum first-time deposit is $500, and if you live in Israel, the minimum first-time deposit is $10,000.

PayPal
Credit Card
Bank Transfer
Neteller
Skrill

eToro used to charge $25 per withdrawal, but in our latest eToro review 2021 we have found that the flat-rate withdrawal fee is now only $5. Platinum club members pay no withdrawal fees.

All deposits undergo a seven-day hold before all funds deposited by internet banking can be withdrawn. After the hold period, withdrawal requests take up to 2 business days to process. Wire transfers can take up to 7 business days to process.

Customer Service - Highly rated support from eToro

Overall, eToro has good customer service. It can sometimes be difficult to get in contact with someone at the weekends, but there are multiple ways to reach support.

eToro uses a live chat service, which is available in multiple languages, including English, German, Spanish, French, and Italian. Customer service usually responds within a few minutes. The only downside is that the live chat function is not easy to find. You can find it in the FAQ section under the Help Center link.

eToro also uses a web-based ticketing service, where you can state the issue, and customer or technical support will respond by email. Email responses can be very quick, sometimes within a matter of minutes and sometimes up to several hours. In either case, you do not need to wait long before having your problem resolved. Want to see how it compares to another leading broker? Read our XTB review.

License and Security - eToro keeps your funds and transactions safe

eToro uses security measures such as two-step verification, for logging into your account; and encryption, including SSL, so that your log in and account activity stay safe.

eToro uses tier-1 banks for holding customers funds, and the business is regulated by several financial authorities around the world, ensuring the business meets security standards. These include the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and by US state regulators for their operations inside the United States.

CySEC - Cyprus Securities and Exchange Commission
MSB - Money Services Business (USA)
FCA - Financial Conduct Authority
ASIC - Australian Securities and Investments Commission

Therefore, the only risks are those related to investing. Your investments run the risk of decreasing in value, so a solid investment plan, with considerations for risk, is important.

Reputation and Customer Feedback — Highly regarded by customers

eToro has a very good reputation due to their ease of use, security, and the quality of service. Operating since 2006, eToro has been providing online investment services for 15 years.

Many customers rate the business highly. Some comment on the ease of use, such as that by naserkout, who said “[eToro is] Very easy to use.” Others have commented on the low commission rates offered by the platform, such as that by Golguz, who said “Great commission free trading.” Another user, iamgirome, commented on eToro’s “Good performance and learning platform.”

eToro Crypto

Cryptocurrencies — eToro crypto trading is easy

As part of this eToro review 2021, one of our priorities was finding out about eToro crypto trading. eToro is a multi-asset trading platform, meaning it is possible for you to trade stocks, commodities and currencies. The currencies include both forex and cryptocurrencies.

In our eToro crypto review, we found that you can invest in up to 15 cryptocurrencies on eToro, these are: Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, XRP, Litecoin, Dash, Stellar Lumens, NEO, EOS, Cardano, IOTA, Zcash, TRON and Tezos. Find out more about crypto trading.

85/100
Rating
eToro Highlights
  • One of the most renowned UK brokers
  • Great for beginner traders
  • Simple and intuitive trading platform
Go to eToro

When you buy eToro crypto, you do not purchase the currency itself, you purchase a contract for difference (CFD), which is a trade linked to the currency you buy. Because the CFD is based on the cryptocurrency, it will move in the same way, so if the eToro crypto makes a loss, you too will make a loss, and if the eToro crypto makes a profit, you will too. In our eToro review UK, all of the eToro crypto trading options are available to you.

Unfortunately, it is not possible to trade CFDs in the United States. Therefore, eToro crypto trading has been slow to take off. However, eToro is finding alternative options and is slowly starting to provide cryptocurrency trading in various states throughout the US.

As of January 2021, the spreads for trading cryptocurrencies range from 0.75% for eToro Bitcoin to 4.5% for Iota, with most spreads ranging from 1.9% to 2.9%, which is good compared to other cryptocurrency brokers.

Fees - Commission-free trading at eToro

In this eToro review 2021, we found that trading fees depend on what assets you trade. If you trade stocks or ETFs, then you will pay no commission, no management fees, no rollover fees, no ticket fees, and no additional broker fees.

For cryptocurrencies, you are also not charged any commission. In cryptocurrencies, you are charged via a spread. The spread is the difference between the buy price and the sell price. With Bitcoin, for example, the spread is 0.75%. Other cryptocurrencies have a spread of 2.9%. The largest spread is for IOTA, with a spread of 4.5%. However, most spreads for cryptocurrencies are around 2.2–2.9%.

CFDs work the same way as cryptocurrencies. There is no commission charged, but a spread is used. However, the spreads are very tight. For example, currencies start from 1 PIP; commodities, 2 PIPS; indices, 100 PIPS. Stock and ETF CFDs have a spread of 0.09%, and cryptocurrency CFDs have spreads from 0.75%. Read our BDSwiss review for another comparison of trading fees.

Jurisdictions and Limits - Worldwide trading options

eToro is regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), and the Australian Securities and Investments Commission (ASIC).

Some of eToro’s offers depend on where you live. For example, as part of our eToro review UK, we found that customers in the UK, under the jurisdiction of the Financial Conduct Authority, and customers elsewhere who come under the jurisdiction of the Cyprus Securities Exchange Commission, are charged zero commission for investments in stocks and ETFs.

85/100
Rating
eToro Highlights
  • One of the most renowned UK brokers
  • Great for beginner traders
  • Simple and intuitive trading platform
Go to eToro

For customers in Australia, zero-commission charges are only available for US stocks and shares. However, for customers in the US, there are currently no zero-commission offers available.

Another important consideration is CFDs, whose availability also depends on location. In most countries, you will be able to use CFDs, and therefore be able to invest in cryptocurrencies and sell stocks. But in the US, with its tight financial regulations, CFDs are not currently available.

Other Trading - A great range of tradable assets

We at BitReviews.com believe eToro gives access to a broad range of tradable assets. In addition to eToro crypto trading, you can trade stocks, forex and CFDs (depending on where you live) – similar to what we found in our Plus500 review. Buying stocks or ETFs on eToro carries no commission, no management fees, no ticket or rollover fees, and no additional broker fees. The only cost you need to factor is the spread, which is the difference between the buy and sell price.

CFDs or contracts for difference allow you to not only buy an asset, with the hope that it will increase in price, but also sell it, with the hope that it will fall in price. CFDs allow you to make money no matter whether the market is rising or falling.

CFDs used on eToro for stocks or ETFs are set at 0.09% and CFDs used for cryptocurrencies cost from 0.75%. You can read our FX open review for a good comparison of costs. eToro also makes it possible to invest in currencies, ranging from 1 pip; commodities, from 2 PIPS; and indices, from 100 PIPS.

eToro, therefore, provides access to a wide field of investing. Whether you want to invest in Bitcoin, buy Apple, or sell the Euro, it is all covered on the platform.

85/100
Rating
eToro Highlights
  • One of the most renowned UK brokers
  • Great for beginner traders
  • Simple and intuitive trading platform
Go to eToro

Overall Conclusion - A great trading and investing platform

eToro is a great trading platform, especially for those new to investing. The simple layout makes it easy to navigate, and it caters to all needs. You can invest in cryptocurrencies, stocks, foreign exchange, and commodities. You can also use CFDs, allowing you to short sell assets and profit when stocks or commodities go down in price.

Depending on where you are located, you can execute commission-free trades for stocks and ETFs. eToro is one of only a few platforms that offer such low rates. The commission rate for cryptocurrencies and foreign exchange is higher than other competitors, so keep that in mind when trading these assets.

eToro has good customer service, using live chat and ticketing facilities, and they are able to respond to queries in up to 21 different languages, so no matter what your preferred language is, you will be able to communicate with someone at eToro.

Overall, if you are an investor or interested in getting started in investing, eToro is a great platform for trading and investing.

85/100
Rating
eToro Crypto
*****
Go to eToro Crypto
Highlights
  • One of the most renowned UK brokers
  • Great for beginner traders
  • Simple and intuitive trading platform

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