Etoro Review 2024 – Is it a Scam or Legit Broker?

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Our Verdict on eToro

We rate eToro  as a trustworthy online copy trading broker with excellent range of available assets for stock and cryptocurrency investors, thanks to zero commision for buying/selling shares.

The eToro platform is user-friendly and intuitive. We like the copy trader feature, which is very interesting but has its several downsides.

On the negative side are higher trading fees on forex pairs,  the absence of other base account currencies besides the USD, lack of more sophisticated trading platforms and no Paypal deposit method.™ experts rated Etoro broker with Quality Score of 7.2 out of 10 as the Best Broker for Social trading 2024.

Overall Rating: 7.2/10 Average

7.2out of 10

Trading Fees & Spreads7
Trading Platforms8
Customer Support Quality8
Range of Financial Instruments7
Trust & Regulation8


Etoro’s Strengths & Weaknesses

  • Copy Successful Traders
  • Easy and fast deposits and withdrawals
  • 100% safe and regulated broker
  • User friendly online trading platform
  • Currency pairs, Crypto, CFD and Real Stocks
  • No Bonuses
  • No Paypal deposits
  • USD is the only base account currency
  • No MT4/MT5/cTrader
  • No live trading sessions yet



76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Financial Assets

At the moment, you can trade the following assets :

1. Forex currency pairs

  • major pairs include combinations of: EURO, USD, CHF, JPY,
  • exotics:  AUD, CAD, NZD New Zealand, CNH China, SEK Sweden, NOK Norway, ZAR (South Africa), RUB (Russian Rubel), HKD (HongKong Dollar), TRY Turkey, MXN Mexico, SGD Singapore Dollars, PLN Poland, HUG Hungary
etoro review of forex trading platform
eToro’s trading platform – forex pairs 

2. Real Cryptocurrencies >> without leverage:

    • Bitcoin, Litecoin,  Ethereum, Ethereum Classic, Cardano ADA, Iota, Stellar Lumens, EOS, Nio, ZCash, Binance Coin, Uniswap,  Chainlink, Tezos, Dogecoin, TRon
    • You buy real cryptocurrencies with minimum investment of $10 for each trade
    • No leverage

3. Real stocks from 13 stock exchanges around the world, including NYSE (not only CFDs like with other brokers)

4. CFDs Stocks 

5. CFDs on commodities (gold, silver, oil,copper, natgas, platinum)

6. CFDs on stock indices (13 stock indices available: US Dollar Index, NSDQ100,SPX500 Dow Jones 30, France CAC40, EUSTX50, DAX, FTSE100, China50, Madrid, Tokyo225 etc.)

7. CFDs ETF Exchange Traded Funds – 83 ETFs, mostly from iShares

Charting technical analysis tools

Charting was almost flawless, there are all main chart types to choose from whether you fancy the classic candlestick, bar, line, hollow candle,  mountain etc they have it all. Y

You can also switch between various time frames starting at  1 minute all the way up to 1Week. It was also easy to zoom in and out.

Invest in CopyPortfolios™

Do you want to invest like a hedge fund ? … then read this.  These are pre-made portfolios of assets grouped into bundles where each bundle represents multiple markets.


  • CryptoPortfolio – consists of crypto assets
  • Driverless – invest into self driving cars stocks
  • CannabisCare – tries to monetize the recent medical cannabis hype by investing into the stocks of the top performing medical cannabis companies
  • PanicMode – this portfolio is for investors that have anxiety of the future .. I guess this portfolio should stay strong in case of the next economic crisis

Main Features:

BONUS for tradersnot available
Trading Contests No
Minimum depositdepends on the country of residence
Spread EURUSD1 Pip
Number of available currency pairs47
Can you trade via Internet Browseryes
Islamic AccountYes swap free account !
Copying profitable traders (Copy trading)YES
Segregated Account yes in Barclays bank
Mobile tradingyes Mobile App for Android and iOS
Trading Account typesStandard and VIP
15 languages supportedArabic, Chinese Dutch, English, French, German,Italian, Polish, Portuguese, Russian, Spanish, Swedish,Norwegian, Malay
Regulation & LicenseFCA (UK), CYSEC Cyprus, ASIC Australia

eToro demo account

Before you decide to deposit real cash, you can play on practice demo account with $10.000 virtual cash. We tested eToro demo account and luckily all functionalities and perks that are at disposal in real version were also available demo! Meaning, you can let the trades run overnight, copy top investors, place your own trades and strategies without any problem.

Demo account seems to be available without time restriction, so it is completely up to you whether you deposit in 10 days or later.

How to deposit real money 

  1. Login to your PROFILE
  2. Click the “Deposit Funds” button at the bottom left
  3. Currently the minimum first deposit amount is $50. Select the payment method and enter the AMOUNT you want to deposit into eToro. We recommend either your local deposit options or the Skrill. Money will be available immediately within few minutes and you are ready to start trading. eToro gives you also plenty local deposit options that vary country to country. When WIRE TRANSFER is selected, it may take several days for money to arrive, and further banking fees may apply.

Minimum deposit 

Minimum deposit varies according to region.

Nevertheless if you deposit $200 or $50 this will be enough to copy just 1 trader! So keep it in mind.

My personal trading strategy is always about “risk diversification” so when I trade I rather diversify the risk of loss and choose 4-5 solid investors to copy with $200 per head. That is $1000 investment spread across 5 investors.

Again, that is just my way of trading, if you dont like this approach, you can invest the absolute minimum and invest $200 into one trade.

But why would you put all your eggs into one basket ?

Or you can of course do your own trading with your own strategies inside the platform and don’t copy anyone.

Deposit methods available

  1. Wire Transfer
  2. Skrill
  3. Neteller

How to make a withdrawal from eToro

You earned a nice profit and now want to withdraw money from eToro right ?

All regulated brokers have to comply with strict regulation rules concerning KYC (Know Your Customer). That means you will need to verify your account either before your first deposit or before withdrawal.

How to verify your trading account

You need to prepare these documents to ensure smooth trading account owner verification:

  1. Passport or National ID copy (both sides in high resolution)
  2. Address proof (any sort of Utility bill – electric, gas, mobile phone or account statement with blurred amounts is OK)

Also note that withdrawal fees may apply.

Compare eToro vs. Competition

We compared eToro vs. Plus500 for you.


Open FREE eToro Demo Account

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro review summary


Tested-ApprovedThe main goal of this review was to demonstrate how eToro trading platform works and how to make copytrading feature profitable for you.

In my opinion eToro works great for traders who want to trade forex, crypto  or even real stocks on a solid trading platform.


We recommend eToro specifically for forex, real stocks and crypto trading, as it seems that this company invests a lot into these offerings. According to my information just during this year they have added most popular crypto currencies into their trading portfolio + they have launched real stocks trading and added many new forex currency pairs.

When we talk about the eToro platform itself, I personally think it is very intuitive, meaning you will find anything very quickly without a lot of search. All items were found during the review exactly where you would expect it to be!

Especially the newbies who have not yet developed a sense of complex perception of trading,will for sure benefit from intuitive and easy to absorb visual processing of trading data across the whole eToro platform.

I think you will  need maybe one afternoon of playing with demo account to understand how things work on eToro platform.

Reading the eToro’s reviews across the fx forums I think the main eToro’s success comes from smartly implemented copytrading feature, low min.deposit and good customer support. requirements are micro lots btw which makes sense if you are just starting out.

Advanced forex traders who decide to join eToro, could benefit from being copied by others (remember that eToro pays you for each copier).  So if you are good at multiplying money by trading, you should give eToro a try.

Veterans and very experienced forex traders may find eToro more expensive than their favorite ECN brokers UK and they could be also missing Metatrader 4 or cTrader trading platforms.


Risk Disclaimer:
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn moreeToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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