If you're into investing, you have probably heard about eToro. It is one of the popular investment platforms and brokers. Thus, you probably have heard about it as you go on researching for the best ones. As you go on further, you may want to learn more about it. If so, read on.
If you want to consider this firm for your investments, eToro can be an excellent choice for you. However, you may want to learn more about it.
In this article, we'll cover an in-depth take on eToro. This way, you can grasp and see if this company suits your investing goals and preferences.
Without further ado, let's get into it!
What is eToro?
eToro is an Israeli social trading and multi-asset brokerage company. Further, the company focuses on providing financial and copy trading services.
eToro has registered offices scattered throughout the world. They have offices in Cyprus, Israel, United Kingdom, United States, and Australia. In 2018, the company's value reached $800 million.
What can you buy with eToro?
XTB has a variety of products to offer under its pool. If you're a beginner investor, you may get these investment products in the firm:
If you're interested in ETFs, XTB has fantastic offers you can consider. Here's how you can buy ETFs on the firm.
How to buy ETFs on eToro?
If you plan on buying ETFs on eToro, you can do so through the following steps. First, you'll need to create an account on eToro. You can do so through their website. Afterward, you can follow these steps:
- Log in or create an online trading account.
- Head to our Markets page, and then select ETFs to access the full list of ETFs that are available to trade
- Select the ETF that you wish to trade, then select Trade
- Select BUY or SELL depending on the direction you wish to trade
- Enter the amount of money you wish to trade or invest or the number of units of the ETF you wish to buy or sell
- If going short, set a stop loss.
- Select Open Trade
You have many options to consider when buying ETFs on eToro. Thus, make sure you have an in-depth knowledge of the ETFs and the platform before continuing.
Is eToro a good broker?
eToro is a good broker for many reasons. For instance, it gets regulated in two tier-1 jurisdictions and one tier-2 jurisdiction. Thus, it is a safe broker for trading forex and CFDs.
The firm excels when it comes to social copy trading and cryptocurrency trading. Thus, it remains one of the top picks for both categories.
Is eToro good for beginners?
The company boasts of its user-friendly platform and unique features that suit beginners.
For instance, social trading is suitable for users who don't have enough experience in trading.
In such a way of trading, they can copy trades of more experienced traders in a relatively quick and easy way using the platform.
Thus, you won't have any problem deciding, as you can copy experienced investors’ actions.
Is eToro a discount broker?
eToro is not a discount broker. A discount brokerage is a business that allows clients to buy and sell securities. However, it does not provide advice, research, planning, or other investment services.
Those who use discount brokerages have little to no interaction with a real broker. Thus, discount brokerages charge lower fees.
How much money do you need to open an eToro brokerage account?
eToro doesn't charge you for opening an account. Thus, you can create an account without spending anything.
Further, they also boast of having no management or ticketing fees. They also state that stock investment through their platform has no commission.
However, you may get charged a fee of $5 for withdrawals. With such benefits, you may wonder if the firm has hidden fees.
Does eToro have hidden fees?
On eToro, trading costs are in a single charge. It pertains to the percentage of the spread for buy and sells.
The entire cost of the trade is zero, without any hidden fees. Further, deposits are free, but they charge 5$ for every withdrawal you make.
With this in mind, you may wonder how the company makes money.
How does eToro make money?
Though the company has no trading fees, the non-trading ones can be relatively high.
For instance, they charge $5 for every withdrawal. Aside from that, eToro charge inactivity fees as well.
How to withdraw money from eToro?
If you want to withdraw money from eToro, you can follow these steps. You can do so at any time.
Funds are withdrawable to the value of the account’s balance and take away from the margin used.
You can withdraw your funds using the same method and sent them to the same account you used for the deposit.
They offer payment through Credit cards, PayPal, or direct bank transfer.
Who owns eToro?
eToro Group Limited owns eToro. It has offices in Cyprus, Israel, the United Kingdom, the United States, and Australia. In 2018, the company's value was $800 million.
What bank does eToro use?
eToro (Europe) Ltd. operates under the Cyprus Securities and Exchange Commission (CySEC). The firm retains a cross-border license from the CySEC.
This way, they can offer their services in member states of the European Economic Area and outside.
eToro User Reviews
eToro is an excellent opportunity for investments. Here's an overview of the reviews in TrustPilot. Out of 4,006 reviews, the company earns this review:
- 22% says it's excellent
- 11% says it's great
- 6% says it's average
- 6% says it's poor
- 55% says it's bad
Of course, it will only go as far as the reviews. Since many people have said so, it offers quite a reassurance.
Still, as always, personal and in-depth research wouldn't hurt you. For this reason, it would be best not to get involved unless you know your way around it.
eToro is a great firm you can count on to manage your investment needs. Moreover, they boast of their outstanding performance and their large assets under management.
As always, it would be best to research your own and consider what other people say about the company. This way, you'll get to understand it more and know your way in it before you place your hard-earned money.
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