eTORO
Highlights
- Trust- Regulated by the FCA and CySEC
- Security- most secure protocols
Description
eTORO is a leader in the social trading platform established in 2007. The eTORO is an easy to use platform and you can open your account quickly. It is regulated by the Financial Conduct Authority (FCA) in the UK, Australian Securities and Investment Commission (ASIC) in Australia and the Cyprus Securities and Exchange Commission (CySEC). eTORO is not listed on any stock exchange, does not disclose financial reports. It is regulated by top-tier regulators which are great signs for its safety.
Highlights
- Trust- Regulated by the FCA and CySEC
- Security- most secure protocols
- Privacy - No sharing of private data
Pros
- Instant account opening
- A lot of options are available for deposit and withdrawal
Cons
- No phone support
- High Forex trading fee
Main Features
Country of Regulation: Uk, Cyprus, Australia
Trading Fees: Low
Inactivity Fees charged: Yes
Minimum Deposit: $200
Products : Cryptocurrencies, Stocks, Commodities, Currencies, Indices, ETFs
Review
Fees
The eTORO offers free stock trading but the forex trading fee is high. It also charges inactivity and withdrawal fees. eTORO has trading fees and non-trading fees.
A/C opening
The account opening process at eTORO is fully digital, simple and fast. The minimum deposit is $200. There two very simple accounts offered by eTORO i.e a live account and demo account.
The eTORO account cannot be opened instantly through an email account or with your Facebook or Google+ account and start trading with a demo account. For the account verification, it takes 1 business day and you need to upload documents so that you can trade with real money.
Deposit & withdrawal
eTORO provides only one base currency i.e USD. At eTORO depositing money is free but there is a fee on withdrawal. For depositing, you can use debit/credit card, bank transfer, payment wallets and many more options.
The withdrawal fees on eTORO is $5 and also has a $30 minimum amount limit for withdrawals. For the money withdrawal, you have the same options (bank transfer, credit/debit cards or payment wallets). To withdraw you have to visit the eTORO Client portal and check the ‘withdraw funds’ option. It usually takes 2 business days to withdraw money.
Trading Platform
The eTORO trading platform has 2 step login and the interface is user-friendly. The trading platform is easy to use for beginners also. The TradeStation trading platform is customizable and in addition, you get social trading.
Research
eTORO research quality is very good and the research is available in 21 languages. The platform provides news feed and some analyst recommendations.
Customer service
You can connect with the eTORO customer service through live chat and web-based ticketing system where you can raise the ticket for your queries and you will get the response quickly.
Education
At eTORO education material and tools are limited. You can watch videos or use a demo account.
Safety
The broker is Considered safe as it is regulated by top-tier regulators, like the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC).