93/100
Rating
eToro Crypto
*****
Go to eToro Crypto
Highlights
  • A world-renowned crypto broker
  • Simple to use platform
  • Available for most US residents

Crypto Trading eToro Review USA 2021

Welcome to the best and most up to date eToro Review in 2021, where you can find all about how this pioneering platform has opened up crypto trading to a wider audience here in the US.

Ultimately, what eToro provides is an excellent trading platform for both beginner and experienced crypto traders that’s fronted by an eye-catching website that differs from the dated grey and blacks that have dominated financial and trading sites for so long.

eToro Review 2021 – At a Glance

etoro crypto trading
Pros & Cons of Etoro
  • Well designed and easy to use platform
  • Trade crypto on eToro easily and efficiently
  • Available in most US States and Territories
  • Quick and easy account opening process

Security, Usability, Look & Feel - Our eToro Review of the Site and Trading Platform

If you’re relatively new to crypto trading, then you’ll be pleased to know that the eToro website isn’t one of those bleak financial sites that looks immediately perplexing. Instead, the site follows a sleek white and green design that’s intuitive to navigate and packages all of the initial financial information with some neat looking infographics. Overall, the site almost resembles a social media platform rather than a crypto trader. However, that doesn’t mean that more serious investors will find the eToro site overly simplistic – they’ve done well to strike the right balance here.

93/100
Rating
eToro Highlights
  • A world-renowned crypto broker
  • Simple to use platform
  • Available for most US residents
Go to eToro

Once you’re signed in, you can go to the discover section to view the live trade markets. Here you’ll find the more traditional dark grey background that you might be used to seeing on trading and brokerage site, however, it’s packaged in a more polished way that’s much easier on the eye. There have been no major problems with the full site or trading platform going down on a country-wide or global scale, however, there have been a handful of instances where individual users have faced problems with their account logging out automatically, From what we’ve seen though, these have all be fairly isolated instances and the site and trading platform function to a high standard overall.

eToro Crypto Trading: Step by Step

Register

Firstly you can begin to register your eToro account with your email address, Google+ or Facebook account. You’ll then need to enter a few extra details in the sign-up form and wait for your account to be verified. While waiting for your account to be verified, you can already use your eToro demo account to practice trading.

Verification

To be able to deposit and trade cryptos for real, you’ll need to verify your account by providing proof of ID and residence. Once you’ve provided the documents, your account should be fully verified within 24 hours, however, it can take longer in some cases.

Deposit

Once verified you can then make the first deposit into your account using one of the available payment methods detailed in the above section of this review. Please note that the minimum deposit amount is $50 for all payment options.

Start Trading

Now that your account is fully up and running and funded, you’re ready to start trading cryptocurrencies. You can either trade on your desktop using eToro’s web trader or by downloading the mobile trader via the eToro app. There currently isn’t a downloadable desktop trading platform or any form of third party software.

Withdraw

If you’re in profit or have hit a target you’ve set yourself, you can withdraw your funds at any time by clicking the button in the menu to the left in your account information. You will have to complete a form and remember that the withdrawal process with eToro is rather lengthy.

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
Licence
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
PayPal
Credit Card
Bank Transfer
Neteller
Skrill
Show More

eToro Crypto USA - Deposits and Withdrawals

eToro has a very good selection of payment methods available and uses a base currency of USD, which is good news for US clients, as there’s no need for currency conversion. As well as traditional bank transfers and credit card options, you can also fund your eToro account using PayPal, Skrill, Neteller, China UnionPay, and Klarna / Sofort Banking. As we mentioned earlier in this eToro crypto review, there are no transaction fees charged by this provider. The minimum deposit across all payment methods is just $50, with the maximum being $10,000 or $30,000 depending on your payment method.

PayPal
Credit Card
Bank Transfer
Neteller
Skrill

All deposits are processed instantly, apart from those made via wire transfer, which can take between five and seven business days. There are no withdrawal fees and the minimum amount you can take out is $30. However, the withdrawal processing times are pretty long, with a 7-day holding period before eToro even starts processing your withdrawal.

eToro Crypto Customer Service

You can contact the eToro customer service team via email, live chat or the phone line – which uses a toll-free American phone number. The live chat is available 24/7, however, in our experience, the waiting times were a lot longer during unsociable hours and they often use a bot that repeats the answer you can easily find in their FAQs section. Additionally, you cannot access the live chat without being an account holder.

Fortunately, however, what the live chat lacks is more than made up with via their excellent FAQs section and educational tools – if you have any doubts before signing up, the FAQs section is almost guaranteed to have an answer for you – simply type what you’re looking for into the search bar. A trading site of eToro’s stature and reputation shouldn’t really be using an FAQ section to cover for their customer service shortcomings though, so we feel slightly let down here.

eToro Review USA - License & Security

As we mentioned earlier in this review, eToro is licensed and fully operational in 42 US states and territories at the time of writing, with at least 7 more licenses on the near horizon. In terms of security, all user data and transactions are encrypted and they do deploy KYC guidelines.

There are fund protection measures in place, however, this depends on the rules of the financial regulatory body in the US state or territory where you are. As eToro only offers cryptocurrency trading in the US, American clients aren’t covered by any form of investor protection. Overall,  eToro is 100% legit and regulated in all of its operations and we’ve found no evidence to suggest that they have attempted to flout or even stretch the laws in any of their jurisdictions worldwide.

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

eToro Review 2021: Reputation and Customer Feedback

Overall, eToro has a strong reputation on the market both at industry level and in terms of customer feedback. Generally speaking, people like the ease of use that the website and web-trader offer, and the overall simplicity of the service.

Like most online traders and brokerages, they do take a bit of slamming with some customer reviews, however, experience tells as the majority of people who leave reviews are those who lose money, so you always have to read such reviews carefully and sometimes take them with a pinch of salt. One thing that both experts and customer reviews can agree on – the customer service needs improving.

eToro Crypto

eToro Crypto Review - How it Works and What’s Available

Rather than being confined to the offices of Wall Street, crypto trading is very much in the hands and cell phones of young and hungry Gen Z and Millennial go-getters – and no one has picked up on that better than eToro.

The eToro cryptocurrency trading platform allows users from 42 US states and territories (and counting) to trade in 16 different digital currencies including Bitcoin, Ripple and Ethereum. Just like Robinhood crypto trading, cryptocurrencies on eToro are traded as CFDs which are currently illegal in the US – as is the case with all other crypto brokers who only offer CFDs.

93/100
Rating
eToro Highlights
  • A world-renowned crypto broker
  • Simple to use platform
  • Available for most US residents
Go to eToro

If you’re completely new to crypto trading, we most certainly recommend doing your homework in advance, but eToro does allow you to start off casually, with a minimum investment of just $50 required. To help you get along, eToro has a social trading platform, which allows you to check the moves of your fellow traders and mirror their position at the click of a button if you like what they’re doing. eToro account holders are also provided with a wallet in which they can store their cryptocurrencies. All in all, eToro crypto USA trading is up there with the best service in the country for both novice and experienced traders.

If you’re interested in checking out some of the other crypto brokers we rate highly, check out our TD Ameritrade Review & our TradeStation Review.

eToro Review - Fees and Costs

Let’s start off with the good news here – eToro doesn’t charge any transaction fees from their side, which is of course a huge plus. In fact, the only transaction fees they do charge are currency conversion fees, which US clients don’t have to worry about because the base currency used on the platform is USD. Additionally, there are no withdrawal fees charged by eToro. The actual crypto trading fees vary from currency to currency but are a little bit on the high side. Generally, the trading fees sit between 2% and 5%, with the bitcoin fee for existing positions being 0.75%. All in all, these fees are quite high compared to some other trading platforms available, however, this is balanced out by the absence of transaction fees and the fact that US clients can avoid the 0.1% currency conversion fee when depositing.

Jurisdictions and Limits - Where is eToro Crypto Trading Legal and Available?

At the current time of writing, eToro is available in 42 US states and territories, with 10 of those having been added within the last 6 months. That is testament to the fact that the list of available jurisdictions with eToro in the US is growing fast. On their website, Delaware, Minnesota, New Hampshire, New York, Nevada, Puerto Rico and Tennessee are all promised to be coming soon.

93/100
Rating
eToro Highlights
  • A world-renowned crypto broker
  • Simple to use platform
  • Available for most US residents
Go to eToro

In terms of their actual licensing, eToro is fully licensed, regulated and legit in all of the US states and territories in which they operate. Understandably, we’re not going to list 42 different licensing and regulatory bodies right here, so instead, we advise you to head to the eToro website to see if the platform is legal and legit where you are. Internationally, eToro is licensed by the Cypriot Investment Firm (CIF), the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC).

eToro Review USA - Other Trading Options

As well as cryptocurrencies, eToro also offers trading on forex currencies, stocks, ETFs and indices. Unfortunately, however, these trading services currently aren’t available to US clients in any of the 42 states and territories from which eToro currently accepts users.

However, traders in other countries across the world, particularly in the UK and other European countries can trade in Wall Street stocks, consumer goods, healthcare and a variety of other potentially lucrative stocks and EFTs. In terms of forex currency trading, eToro has over 90 pairs available. If you’re looking for a broker that provides these kinds of trading services here in the US, check out our Forex.com Review and our SoFi Review. As for now at eToro, bitcoin and other cryptos remain your only option.

93/100
Rating
eToro Highlights
  • A world-renowned crypto broker
  • Simple to use platform
  • Available for most US residents
Go to eToro

Overall Conclusion on eToro Crypto USA

To summarize eToro overall as a crypto trading platform, we wouldn’t hesitate to recommend it for beginners and traders with medium-experience levels. The modern simplicity of the website lends itself well to the novice and casual trader, however, the proper high-volume traders among you will definitely find that it lacks a few functions – especially downloadable desktop trading software. The high trading fees are a bit of a turnover but they are somewhat offset by the absence of transaction fees and the free withdrawals. All in all, though, the pros definitely outweigh the cons with eToro.

93/100
Rating
eToro Crypto
*****
Go to eToro Crypto
Highlights
  • A world-renowned crypto broker
  • Simple to use platform
  • Available for most US residents

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