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eToro Review 2024

Written by
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

May 09, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Our testing found that eToro offers a dynamic and comprehensive forex and CFD trading experience. We highly recommend it based on its overall performance and offerings in the forex and CFD sectors, especially for those interested in copy trading.

Overall Rating

8.8 / 10

Minimum Deposit


Trust Score info

Highly Trusted

Pros and Cons

thumb_up_off_alt Pros

  • Diverse Offerings: eToro supports a variety of financial instruments, making it a versatile choice for traders.
  • Proprietary Platform: Offers its own user-friendly trading platform tailored for social trading.
  • Copy Trading: Excellent for beginners and those looking to leverage the expertise of other traders.

thumb_down_off_alt Cons

  • No MetaTrader Support: Does not offer MetaTrader 4 or MetaTrader 5.
  • Limited Forex Pairs: Offers only 52 forex pairs, which may be less than some competitors.
  • Spread Costs: The spread cost for EUR/USD is competitive, but the overall fee structure may be higher than some peers.

Ratings Summary

  • Investment Types - 9.5/10
  • Commissions & Fees - 8.5/10
  • Trading platforms - 9.0/10
  • Research - 8.5/10
  • Mobile Apps - 8.5/10
  • Education - 9.0/10
  • Overall - 8.8/10

Can I trust eToro?

eToro is a highly trusted broker, regulated by authorities in the UK, Australia, and under MiFID in Europe. It’s not listed on any public exchange, but its high trust score and multiple authorizations make it a reliable choice for traders. According to, it is considered "Highly Trusted."

eToro is currently licensed and/or authorised by the following regulatory bodies:

Is eToro good for beginners?

We identified that eToro is an excellent choice for beginners, thanks to its comprehensive educational content and the availability of beginner videos and general forex education. This makes it easy for newcomers to get started and learn effectively.

Feature eToro logoeToro
Education (Forex or CFDs) info Yes
Client Webinars info Yes
Videos - Beginner Trading Videos info Yes
Videos - Advanced Trading Videos info Yes
Investor Dictionary (Glossary) info Yes

eToro commissions and fees summary

Our review shows that eToro has an average spread cost for the EUR/USD pair of 1 pip, which is slightly below the industry average of 1.08. However, when the fixed trading fee of 1% for both buying and selling is included, the overall cost to trade ends up being a bit less competitive.

Feature eToro logoeToro
Minimum Deposit info $10-$10,000
Average Spread EUR/USD - Mini info 1 info
Average Spread EUR/USD - Standard info 1 info
All-in Cost EUR/USD - Active info N/A
Active Trader or VIP Discounts info Yes

eToro trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

eToro’s proprietary platform is highly recommended for its robust features and ease of use, making it a superior choice for traders looking for efficient and effective trading tools.

Trading platforms offered: eToro offers a proprietary platform designed for social trading.

Trading tools: The platform includes a range of trading tools and signals to assist traders.

Metatrader: eToro does not offer MetaTrader 4 or MetaTrader 5.

Copy trading: eToro is superb for copy trading, allowing users to replicate the trades of experienced traders.

Feature eToro logoeToro
Virtual Trading (Demo) info Yes
Proprietary Platform info Yes
Desktop Platform (Windows) info No
Web Platform info Yes
MetaTrader 4 (MT4) info No
MetaTrader 5 (MT5) info No
DupliTrade info No

eToro trading platform screenshots

Mobile trading apps at eToro

eToro’s mobile trading apps are highly recommended, providing a seamless trading experience on mobile devices with full functionality.

Feature eToro logoeToro
Android App info Yes
Apple iOS App info Yes
Mobile Economic Calendar info No
Mobile Alerts - Basic Fields info Yes
Mobile Charting - Draw Trendlines info No
Mobile Watchlist info Yes

eToro mobile app screenshots

How do I open an account with eToro?

  1. Visit eToro's website and click the 'Join Now' or 'Trade Now' button.
  2. Fill in your personal details in the required fields to create an account.
  3. Verify your identity by providing the necessary documents.
  4. Make a minimum deposit to activate your account.
  5. Begin trading after your account is set up and funded.

What can I trade at eToro?

: eToro offers an average range of trading options with 52 forex pairs and 3,479 tradeable symbols, slightly below the industry average of 3,623 tradeable symbols.

Feature eToro logoeToro
Tradeable Symbols (Total) info 3479
Forex Pairs (Total) info 52
Social Trading / Copy Trading info Yes
Cryptocurrency (Physical) info Yes
Cryptocurrency (Derivative) info Yes
Spread Betting info No

eToro research screenshots

Account funding at eToro

eToro supports multiple methods for account funding including bank wires, Neteller, PayPal, credit cards, and Skrill eWallet, providing flexibility for deposits and withdrawals.

Feature eToro logoeToro
Visa/Mastercard (Credit/Debit) info Yes
Bank Wire (Deposit/Withdraw) info Yes
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Neteller (Deposit/Withdraw) info Yes

About eToro

eToro, founded in 2007, is a pioneering social trading platform that allows users to follow and copy the trades of other successful traders. It has grown to become one of the leading platforms in the industry, especially noted for its social trading features and comprehensive trading solutions. This has positioned eToro as a favorite among traders who appreciate its user-friendly interface and the community-driven aspect of its trading environment.

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At, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for and Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for and He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg
Jeff Anberg

Jeff Anberg is a Staff Editor at and Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.