eToro Review

Today we will have a look at one of the most popular trading platforms called eToro. Is it worth spending money or just another program to waste hard-earned cash? I will keep this review short and to the point and only highlight what's important. If you wish to know more about all the features they offer, feel free to visit their page as everything is highlighted over there.  Now, let's get started...


Website

https://www.etoro.com


What is eToro?

eToro is a platform that is used for online trading. They trade in cryptocurrencies, stocks, ETF’s, and even CFD Trading. They also teach members how to trade, read the graphs, and everything else which is needed to do be successful at trading. 


Short History

eToro was created back in 2006 by David Ring, Ronen Assia, and Yoni Assia. The company is based out of Tel Aviv-Yafo, Israel, and they employ over 500 workers. It was first founded in 2007, as RetailFX, the name later in 2013 becoming eToro when they became available to the UK. Their android app was released in 2010, and in 2014 crypto-currencies were added to their trades along with the others, including stocks, CFD’s, and so forth.

In 2018 eToro launched GoodDollar, a non-profit project, the objective of which was to reduce global wealth inequality through UBI with the use of blockchain tech.

Since they were first founded, eToro has continued to grow, expand, and upgrade, landing them with over 13 million registered users in 2020, and now in 2021, they plan to become a public company through a SPAC merger.



Scam or Legit?

EToro is a legitimate platform, with real-time trading, payments, and payouts. It is not a scam, and you will be paid what you earn, however, keep in mind that you can and will most definitely lose some money as you will not always make the right trades. 


Support

EToro has many different types of support, including a help center, FAQ pages, How To pages, and a service center plus help center. One can create and send a ticket, ask for help from the community, browse the trending articles, or send feedback/questions directly to their team. Depending on the support method, support can be offered within 14 days, tickets, taking the longest.


How does eToro work and how do you earn?

EToro is a trading platform, where once sign up, a user can trade with stocks, shares, and so forth, using the different trades they have available, which includes crypto-currencies, commodities, stocks, currencies, ETF’s, Indices, CFD’s and so much more. They offer tips, tutorials, graphs, charts, and so forth, giving you everything you need to study a platform, and then use that knowledge to make trades. If trading is done correctly, you can earn quite a bit, depending on how much you invest. Then once a few small fees have been paid, you can deposit your earnings into your bank account, or put them back into trading. Not sure how to trade? You can also "copy a trader", meaning, you can copy and learn from other traders that are successful and thus have a better chance yourself.

Etoro scam


Any Cost Involved?

EToro itself is completely free to join, with no payments needed; however, there are fees and payments required afterward. These fees and payments include:

  • Fees on commodities
  • Fees on overnight trades
  • Fees on weekend trades
  • Spread fees
  • Withdrawal fees
  • Conversion fees
  • Inactivity fee


User Interface

You do not need to be a tech-guru to use eToro and does not take long to familiarize yourself with the platform. Trades go smoothly and are without glitzes. Obviously, if you have a slow internet speed, you might experience difficulties when trading, always make sure to have a stable connection before trading.   

Etoro reviews


Education Available

Financial market guides – Guides on every aspect related to trading, available on eToro. These guides provide info such as if crypto-currencies are still worth it, and so forth, providing users with more knowledge when they enter a trade.

Podcast – A podcast, with hosts, Naor Meningher and Eytan Weinstein, joined by a star trader, as they discuss anything and everything finance, including analysis, trading, currencies, business management, economics, and so on.

News & Analysis – Daily news feed of everything going in on in the world that can impact the markets.  In addition, an analysis of anything financial, providing you with the information needed to make trading decisions.

Video Tutorials – Video tutorials, of everything there is on eToro, showing you not only how their tools and platform work, but also the ins and outs of trading itself.

Trading School – The eToro trading school is a combination of online classrooms, tutorials, and so forth, where you can learn everything trading, plus you can sign up for a demo account, which will provide you with an account with cash in it (Fake. You cannot withdraw this cash) which you can use to test out strategies, your knowledge, and so on.

Social Trading – Copy-trading strategies from other successful traders, and make use of all of eToro’s social features, as eToro is a social trading platform.

Daily Market Review – Daily updates/reviews on the market, and everything in it, including, but not limited to, wall street, crypto’s, and anything else that can affect the markets.


Etoro reviews


eToro - Pros

More than 2000 assets, including ETFs, commodities, Crypto, Stocks, FX, and indices.

eToro users can connect with, copy and learn from other network members in real-time. 

A rewards program for top traders who have a following of "copiers. 

The platform allows for access to over 15 different crypto-currencies.

Available in over 140 countries worldwide.

EToro is available in many different languages, including English, Italian, Spanish, Portuguese, Nederland’s, French, and so much more.


Cons


Crypto fees can be a bit high, higher than most other trading platforms.

Minimum deposit of $200.

EToro is limited in some countries. Yes, it is available in quite a few, but it can be limited. In some places, you are limited to only crypto trading, whereas in others, you have access to not only cryptocurrencies but all other currencies as well.


Etoro reviews


Let's Sum This Up...

eToro is my favorite platform when it comes to trading. I am not a "trading guru" and have limited knowledge when it comes to advanced trading tactics. I like that you can copy other successful traders and have a better chance at making profits. Fees can be a bit high compared to other trading platforms, but then again, quality has a price. I've tried other platforms and with some, I had found that it can be quite the mission to withdraw your money, and "terms and conditions" sometimes held my money captive. With eToro, none of this nonsense, you can withdraw your earnings with ease.

Note: It is not that easy to make money with trading unless you are an expert and invest quite a bit of money. Even the pro traders on eToro do not strike it rich overnight or profit from every bet they make. There are obviously a few here and there who hit the "jackpot" but that is indeed just a few.  Unless you are an expert, this should still be considered the same as gambling with your money. DO NOT see this as a means to replace your income if you are not trained in this field. 

Tip: Education is the key to success!  If trading interests you, educate yourself prior to spending. Get the basics down like learning about candlesticks and all the different graphs used, how the markets work, and so forth. eToro offers educational materials that are extremely helpful, in addition, there are mountains of free education available online to help you become smart at it. 


Do You Use eToro or Used it in the Past?

A one-sided opinion is boring, right? Please help me to help others by giving yours, it would be much appreciated and make this post way more fun and educational.

Thank you, you are a star!


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