eToro Review Best Social And Copy Trading Platform App

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Top 10 Best Social Trading Networks 2020 review

A re you looking for the best Social Trading network? Don’t you know which one to choose among the various possibilities?

(Or maybe you want to better understand What is Social Trading and how it works?)

There are many Social Trading sites out there, and the number continues to increase.

Here’s our TOP 10 of the best Social Trading platforms and Copy Trading platforms, with a little review in order to make you understand at a glance the main features of each one, plus some more insights for the most important ones.

There’s something to everyone’s liking.

(Want to take a look instead at some classic forex brokers? See our best forex broker ranking)

Plus, at the end of this post you will find all the free resource we have prepared to help you Social Trade like a real pro with all the Social Trading sites you’ll find just now in our Top10.

Let’s start. Here’s the InvestinGoal Top 10 Best Social Trading Networks in the world.

Top 10 best Social Trading Platforms and Networks

Here are our top 10 best Social Trading Platforms and Networks.

  • Regulations: CySec, FCA, ASIC
  • Minimum deposit: $200
  • Platforms: Proprietary
  • InvestinGoal rank: 4.5/5

62% of retail CFD accounts lose money

1. eToro

The social trading broker eToro maybe has not been the first to delve into this new field, but for sure it has been the company that more than anyone has given shape, awareness and visibility to what we now know as Social Trading.

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Today eToro, founded and still run by Yoni Assia, is a truly global investor community, where users have the opportunity to interact with each other as they would with a social network like Facebook. Thanks to news feeds, users can monitor and manually copy their favourite traders. Alternatively, the most interesting eToro‘s feature is surely the Copy Trading one, to copy them automatically in proportion, managing exposures and risk. Another bonus? A completely free and unlimited demo account.

  • Regulations: eToro (Europe) Ltd. authorised & regulated by CySEC (# 109/10); Toro (UK) Ltd authorised & regulated by the FCA (583263); eToro AUS Capital Pty Ltd. authorised by ASIC (491139). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Minimum Deposit: Ranges between $200 to $10,000 depending on the region
  • Platforms: Webtrader, mobile (iOS and Android)
  • Headquarters: eToro (Europe) Ltd. is headquartered in Limassol, Cyprus
  • US Customers: Yes, but US clients may have significant limitations
  • Other instruments: CFDs on indices, stocks, ETFs, commodities, bonds; cryptocurrency
  • Read the full eToro Review

62% of retail CFD accounts lose money

  • Regulations: HCMC
  • Minimum deposit: depends on the broker
  • Platforms: Proprietary
  • InvestinGoal rank: 4.5/5

74-89% of retail CFD accounts lose money

2. ZuluTrade

Founded way back in 2007 by Leon Yohai, a well-known greek entrepreneur, ZuluTrade has always been at the forefront in this new sector, especially in Forex Social Trading. Recently it has also introduced the Binary Option Social Trading. Users have access to some social features to interact with Signal Providers, especially to read the comments left by other investors before them.

Where the social trading broker ZuluTrade however excels is in the Copy Trading function. You can search thousands of Signal Providers with a professional and advanced search tool, you can analyse in minute detail their strategy, and above all you can replicate their performance by totally customizing risk and money management. Not sure about it? Clarify your ideas with a free demo account.

  • Regulations: Triple A Experts Investment Services S.A. regulated by the HCMC (no. 2/540/17.2.2020). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Copy trading, social trading
  • Leverage: Leverage will depend on the broker you use
  • Minimum Deposit: Deposit will depend on the broker you use
  • Platforms: Web platform, apps (iPhone/iPad, Android)
  • Headquarters: Triple A Experts Investment Services S.A. is headquartered in Piraeus, Greece
  • US Customers: Yes
  • Other instruments: Instruments will depend on the broker you use
  • Read the full ZuluTrade Review

74-89% of retail CFD accounts lose money

  • Regulations: CySEC
  • Minimum deposit: $1
  • Platforms: Proprietary
  • InvestinGoal rank: 4/5

79.67% of retail CFD accounts lose money

3. Naga Trader (former SwipeStox)

Originally born as an App for smartphones only, SwipeStox, called the “Tinder of Trading”, soon became one of the main players in the Social Trading universe. In 2020, the leaders of the SwipeStox management team began a profound expansion and rebranding plan for all their services. SwipeStox became Naga Trader, one of the platforms of the Naga Group AG.

Naga Trader offers social networking, social trading, copy trading, as well as innovative investment services, such as the NAGA CYBO, or the NAGA Portfolios. The NAGA group is also extremely active in the universe of cryptocurrencies and blockchain, so much so that they even created their own crypto coin, the Naga Coin (NGC). NAGA Coin can even be used as the base currency of your account, with numerous economic advantages, especially at the trading level (lower commissions).

  • Regulations: NAGA Markets Ltd regulated & authorised by CySEC (204/13). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:200
  • Minimum Deposit: No
  • Platforms: MT4, web platform, mobile apps (iOS, Android)
  • Headquarters: NAGA Markets Ltd is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on stocks, ETFs, indices, commodities, futures, cryptocurrency, gaming items
  • Read the full NAGA Trader Review

79.67% of retail CFD accounts lose money

  • Regulations: FCA
  • Minimum deposit: $500
  • Platforms: MT4/MT5 for desktop, iOS, Android
  • InvestinGoal rank: 4.0/5

77% of retail CFD accounts lose money

4. Darwinex

One of the newcomers in the global landscape of Social Trading, but interesting from the outset. Darwinex is a company founded by the Spanish Juan and Javier Colón Bolea, and Miguel Angel Gonzalez.

The newness that Darwinex introduced is the fact that the traders’ strategies are not shown, but are “hidden” within what is called a Darwin. In essence, the trader’s strategy becomes a real asset that the investor can buy and include in his portfolio. Then, the asset value increases due to earnings generated from the underlying strategy managed by the trader. The Darwins are continuously monitored by Darwinex itself, and the investor has access to sophisticated and automated risk control tools. Very interesting for those who feel themselves more as investors than traders.

  • Regulations: Tradeslide Trading Tech Limited authorised & regulated by the FCA (586466) (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP
  • Leverage: 1:200
  • Minimum Deposit: € 500 or $ 500
  • Platforms: MT4, MT5 (both available for Mac, Windows, Linux, iOs and Android)
  • Headquarters: Tradeslide Trading Tech Limited is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on stock, commodities, indices, cryptocurrency
  • Read the full Darwinex Review

77% of retail CFD accounts lose money

  • Regulations: no need, not a broker
  • Minimum deposit: depends on the broker
  • Platforms: MT4/5
  • InvestinGoal rank: 3.5/5

74-89% of retail CFD accounts lose money

5. FX Junction

FxJunction is a Social Trading platform where users can create their own profile and connect their MT4 or MT5 platforms. The primary focus of FxJuction is the traders’ community, a place where to share ideas and trading strategies.

In addition to this, FxJuction also offers a Copy Trading system through which to replicate the performance of the signal providers. FxJunction is not a broker but a cross-platform too, but its connection system is not through supported brokers, but through MT4/5. This means that you can keep your current broker, avoid having to open a new account, and simply connect your metatrader platform.

  • Regulations: FX Junction, LLC is not a broker, regulations are not required. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Copy trading, social trading
  • Leverage: Leverage will depend on the broker you use
  • Minimum Deposit: Deposit will depend on the broker you use
  • Platforms: MT4, MT5
  • Headquarters: FX Junction, LLC is headquartered in New York, USA
  • US Customers: Yes
  • Other instruments: Instruments will depend on the broker you use

74-89% of retail CFD accounts lose money

  • Regulations: no need, not a broker
  • Minimum deposit: depends on the broker
  • Platforms: almost all
  • InvestinGoal rank: 3.5/5

74-89% of retail CFD accounts lose money

6. Myfxbook Autotrade

Opened in 2020, Myfxbook soon became famous as one of the best communities for professional web trader. In Myfxbook traders can link all their trading accounts under a single personal profile, and keep track of all their trading statistics in a professional and organized manner.

Myfxbook also offers an Autotrading service, called Myfxbook Autotrade. Myfxbook is not a broker, but a cross-broker platform, this means that to use the autotrading service you will have to open a new account with one of the many supported brokers. Technically speaking, Myfxbook Autotrade is more a Mirror Trading service. The strategies to copy from, in order to be admitted, must pass a list of precise requirements that increase their security.

  • Regulations: Myfxbook Ltd. is not regulated as it is not a broker. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN, STP
  • Leverage: Leverage will depend on the broker you use
  • Minimum Deposit: $ 1,000
  • Platforms: MT4, AutoTrade (web platform), mobile app (Android, iPhone, iPad)
  • Headquarters: Myfxbook Ltd. is headquartered in Ashdod, Israel
  • US Customers: No
  • Other instruments: Instruments will depend on the broker you use

74-89% of retail CFD accounts lose money

  • Regulations: no need, not a broker
  • Minimum deposit: depends on the broker
  • Platforms: Mirror Trader
  • InvestinGoal rank: 3.5/5

74-89% of retail CFD accounts lose money

7. Tradency Mirror Trader

One of the absolute pioneers of this world, even before ZuluTrade and eToro. Tradency has launched the world of social trading, showing everybody how it was possible for users to automatically copy the strategies of other traders, without having to personally operate in the markets.

Tradency, however, has chosen not to travel the road that saw other brokers, like eToro and ZuluTrade, becoming actual real Social Networks. Tradency focused solely on what they call Mirror Trading and the related Mirror Trader platform. With the Mirror Trader users can access several automatic strategies (based on algorithms) generated by professional traders from around the world, and can decide, after assessing the performance, to replicate the signals into their own account. The only aspect that could be considered “social” is the possibility to show and share each user’s portfolio of strategies.

  • Regulations: Tradency Inc. is regulated by the Japanese FSA. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Social trading
  • Leverage: Leverage will depend on the broker you use
  • Minimum Deposit: Deposit will depend on the broker you use
  • Platforms: Mirror Trader, Robox, Smart Investor, Smart Investor CFD
  • Headquarters: Tradency Inc. is headquartered in the British Virgin Islands
  • US Customers: Yes
  • Other instruments: Instruments will depend on the broker you use

74-89% of retail CFD accounts lose money

  • Regulations: NFA
  • Minimum deposit: $49/month or $299/year
  • Platforms: Proprietary
  • InvestinGoal rank: 2.5/5

Trading is risky. You can lose money.

8. Collective2

Collective2 is one of our featured best forex brokers for social trading. They are a top choice for those based in the US who may be interested in copy or social trading. When it comes to regulation, they are overseen by the well-trusted NFA in the US. This broker differs from many others in the sector since it does not charge a fee for forex trading. Instead, traders can choose from one of four monthly plans. The prices of these range from $49 to $299 a month and you can save as much as 15% by opting for an annual plan. Within each tier of plans, the higher your investment, the more forex trading strategies will be made available to follow. These strategies originate from the trading platform itself where they are trader reviewed as opposed to directly copying other traders.

  • Regulations: Collective2 LLC is a member of the National Futures Association (NFA); (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Copy/social trading platform
  • Leverage: N/A
  • Minimum Deposit: $49 if billed monthly, or $390 if billed yearly
  • Platforms: Webtrader
  • Headquarters: Collective2 LLC is headquartered in New York, USA
  • US Customers: Yes
  • Other instruments: Strategies

Trading is risky. You can lose money.

  • Regulations: CySEC
  • Minimum deposit: $500
  • Platforms: MT5, Webtrader
  • InvestinGoal rank: 2.5/5

63.04% of retail CFD accounts lose money

9. Trade 360

Trade 360 are another of the top social trading brokers in the industry. They are fully regulated and ESMA compliant with their HQ based in Cyprus. They are another social trading broker that offers a range of account choices to you as a forex trader. You can choose from a total of 6 distinct account types. This includes an account type which is specifically designed to facilitate trading in gold. With Trade 360, you will also find that the minimum deposit ranges from $500 to $50,000 depending on the account type. Forex trading spreads start from 3 pips ono many of the forex currency pairs available and there is a wide range in choices of CFDs, with more than 100 open to trade. Trading with this broker takes place on MT5 or WebTrader platforms.

  • Regulations: Crowd Tech Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 202/13; (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
    Type: Copy/social trading platform, Market Maker
  • Leverage: 1:400
  • Minimum Deposit: $500
  • Platforms: MT5, Webtrader
  • Headquarters: Crowd Tech Ltd is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on stocks, commodities, metals, ETFs

63.04% of retail CFD accounts lose money

  • Regulations: NFA
  • Minimum deposit: Variable
  • Platforms: Proprietary
  • InvestinGoal rank: 2.5/5

Past performance does not guarantee future results

10. iSystems

iSystems are a European copy and social trading platform that has the ability to facilitate automated trading for traders who are operating under brokers where the platform and its technology is employed. The iSystems platform mainly focuses on trading of stocks and futures and therefore is mainly featured among brokers who offer trading in these markets as a primary product to traders. With that said, they have gained a lot of traction and popularity within the industry. As a trader, you can now utilize the iSystems platform or its technology with more than 30 top stock brokers. These major brokers include the likes of NinjaTrader and Halifax among others. If you are trading stocks or futures, it is likely you will come across the iSystems platform.

  • Regulations: iSystem is not regulated because it’s not a broker. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Copy/social trading platform
  • Leverage: It depends on the broker chosen
  • Minimum Deposit: It depends on the broker chosen
  • Platforms: MT4, web platform, mobile apps (iOS, Android)
  • Headquarters: iBroker Global Markets SV SA is headquartered in Madrid, Spain
  • US Customers: No
  • Other instruments: It depends on the broker chosen

Past performance does not guarantee future results

How to Social Trade Like a Pro with the best Social Trading brokers

Now that you know all the best Social Trading sites where you can start to Social Trade, it’s time to discover how you can best do it.

Do you want to professionally Social Trade and increase your chance of success?

Well, here’s the deal.

InvestinGoal is simply full of contents, strategies and tools to help you Social Trade like a real pro with all the Social Trading sites we mentioned above.

Here you can find:

  • an eToro guide
  • a ZuluTrade guide
  • an Ayondo guide
  • a list of the best Social Traders
  • other guides in the Learn Section that will help you really make the best out of Social Trading
  • a Social Trading blog to really go beyond the Social Trading meaning
  • an in-depth Social Trading review section
  • …and much more, like our SlideShare for example ��

eToro Brings the Promise of Social Trading to The World.

eToro is the world’s leading social trading network. Powered by millions of users from over 140 countries, eToro has been able to refine their knowledge and experience into practical trading tools.

Alongside being a one-stop shop for stock trading , online investing, crypto trading and much more, it has also introduced many novel social trading features. But what makes eToro social? The array of social features eToro offers is vast and extends well beyond the trading platform itself. While pioneering social features and making the financial market more friendly and accessible to almost anyone around the world, eToro has also extended its reach and is maintaining active social channels.

Copy other traders

Trade like a Steve

Discovering other traders to copy on eToro is quite intuitive: On the Copy People screen, there are several methods to locate people that may match your trading and investing needs. The Editor’s Choice section presents Popular Investors (more about the program below) that have recently been trading that are worth checking out.

Also, it is quite simple to locate traders by using the search tool and filtering the results. There is a variety of parameters to choose from, such as gain, Risk Score, location and many others. Since eToro operates in complete transparency, each trader that can be copied has valuable information on their eToro profiles that will help you determine your ideal choices for creating your people-based portfolio.

To build a strong community of traders and investors, and to encourage successful traders to share their wisdom, eToro has created the Popular Investor program. This program rewards successful members of the eToro community for being copied. Simply put, the more copiers they have, the larger their payout. The payments to Popular Investors are given on top of any profits made from trading and can reach as high as 2% of their total AUM (assets under management).

The democratisation of financial knowledge has created a situation in which anyone who puts in the time and effort to study markets, and build a solid trading and investing strategy, can potentially become successful. Therefore, it is no surprise that Popular Investors come from all walks of life and the program has enabled many eToro traders to earn a second income regardless of their financial background. To learn how you too can become a Popular Investor, visit this page .

The Social News Feed

Another feature that is unique to eToro is the personalised, social News Feed. Incorporating elements from the worlds of social media and online trading, your News Feed helps you follow the financial instruments and traders you like, interact with fellow members of the eToro community, open discussions and much more.

Just like on any social network, you can post your own updates (and even tag the instruments or people you’re talking about), share posts to your feed, comment on others’ posts and gradually create a feed that is tailor-fitted to your trading and investing interests.

On the eToro platform, you will also get notifications when a user you copy writes a new post, an asset on your watchlist becomes volatile and many other important updates. Notifications appear both on the web platform and as push notifications straight to your mobile device.

Your eToro profile

Your profile on eToro is your way of presenting yourself to the eToro community and get valuable statistics about your trading habits. If you want to get copiers, make sure to verify your account , add a profile picture and write something about yourself.

There are four tabs on your profile:

  • Feed: Shows all of your social activity on the eToro network, including your posts and comments. This tab also shows your bio so make sure to write a few words about yourself and your trading strategy
  • Stats: Presents your gain and fail/success ratio since your joined eToro, enables you to track your Risk Score, shows your portfolio composition and more
  • Portfolio: This tab shows the community your portfolio in detail, enabling other traders to see what you trade and invest in, helping them decide if they would like to copy you
  • Chart: This tab presents a simulation of what a $10,000 investment in you would yield over time

We realise that some of our clients would like to keep their trading activity private. If you wish to share less information, flip the ‘Private Profile’ switch on your profile. To personalise your profile’s privacy, please go to profile privacy settings .

Extending beyond the eToro platform

Since eToro places such high emphasis on open discourse and wisdom sharing, the platform also offers social features that reach outside the platform itself. For example, traders can easily share their trading decisions and actions on other social networks, such as Facebook and Twitter. In addition, eToro clients can use the platform’s advanced technical analysis features to create their own charts to support their trading actions, and share them both on the platform and outside it.

eToro keeps a friendly, professional and pleasant community by requesting all of its clients to adhere to the Community Guidelines .

eToro on social media

eToro is active on many social channels, keeping both our own community and the general social media public informed. You can find us on:

Facebook:
Get recent eToro news, learn about new products,tune in to live broadcasts and stay in touch with the eToro community

Twitter:
Get real-time updates about the eToro platform and special promotions, follow recent news and join the financial conversation on the Twittersphere

Instagram:
Follow recent eToro updates in a clear, succinct graphical format. Follow our public updates and learn more about the platform and its features

Youtube:
Explore a variety of content, including video tutorials, interviews, informative videos and much more

Telegram:
Get notified if the platform is down and when it is up again, receive updates on new products, and get important news and notifications regarding the eToro platform

Privacy and security

We hold our clients’ security and personal information in the highest regard, which is why we will never share any of your personal information. To make sure your information and funds are secure, we employ several cybersecurity measures, encryption techniques, and hold your funds in top-tier banks – so you know that your eToro trading experience is safe and secure. To learn more, check out our Privacy Policy .

Are you ready to take your first steps, join the Fintech revolution and explore the endless possibilities offered by social trading?

Find us on

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% 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.

eToro (Europe) Ltd., a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10.
eToro (UK) Ltd, a Financial Services Company authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
eToro AUS Capital Pty Ltd. is authorised by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139.

Past performance is not an indication of future results.
General Risk Disclosure | Terms & Conditions

You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade. Under no circumstances shall eToro have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs or (b) any direct, indirect, special, consequential or incidental damages whatsoever. Cryptocurrencies markets are unregulated services which are not governed by any specific European regulatory framework (including MiFID). Therefore when using our Cryptocurrencies Trading Service you will not benefit from the protections available to clients receiving MiFID regulated investment services, such as access to the Cyprus Investor Compensation Fund (ICF)/the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service for dispute resolution. Trading with eToro by following and/or copying or replicating the trades of other traders involves a high level of risks, even when following and/or copying or replicating the top-performing traders. Such risks includes the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Past performance of an eToro Community Member is not a reliable indicator of his future performance. Content on eToro’s social trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of eToro – Your Social Investment Network.
Copyright © 2006-2020 eToro – Your Social Investment Network, All rights reserved.

eToro Review – Is This Service a Scam or Legit?

eToro Review
  • Commissions and Fees

Summary

eToro is a global online brokerage with built-in social trading features. Many traders are attracted to eToro for their “copy” features which allow you to replicate the trades of other traders. Read our review to see if it makes sense to use eToro and copy other traders.

About Etoro

eToro.com is a global online brokerage enables users to trade a variety of financial instruments including stocks, ETFs, indices, forex, commodities and cryptocurrencies via CFDs (contract for difference). The intuitive mobile platform along with the social trading features have caused the popularity to flourish worldwide. The platform claims to have over five million users worldwide in over 170 countries executing over 250,000 million trades to date. eToro is currently not available for U.S. customers, but is working on making it happen soon.

Originally launched as a forex trading broker by brothers Yoni and Ronen Assia and their partner David Ring in Tel Aviv, Israel in 2006, the platform has since expanded to include stocks, commodities and cryptos. 2020 was a pivotal year as eToro rolled out their social network called Openbook which enabled the CopyTrading function allowing users to follow and autotrade the specific trader’s trades on the platform. Additionally, they rolled out their mobile trading platform on Android, which sparked growth like wildfire. The platform has evolved into a comprehensive one-stop shop for traders wanting instant access to some of the most popular global trading instruments.

eToro is a brokerage platform operating under two entities eToro Europe Ltd and eToro U.K. ltd. eToro Europe Ltd. is based in Limassol Cyprus and registered as a Cypriot Investment Firm (CIF). It is regulated by the Cyprus Securities and Exchange Commission. eToro U.L. Ltd. is based in London and regulated by the Financial Conduct Authority (FCA).

Commissions and Fees

Due to the global nature the eToro platform, certain countries and regions may have different policies, pricing and processing schedules. While eToro technically has “no-commissions” or “ticket-fees” on most trades, they make their fees from the spreads and additional fees like USD LIBOR for U.S. stocks. Here are the minimal spread fees . It’s best to confirm the rates specific to your country.

Forex trade spreads can range from two-to-five pips on the most popular major pairs like EUR/USD, USD/JPY, USD/CAD, GBP/USD and AUD/USD. As the pairs get less liquid, the spreads widen up to 20 pips or more for more exotic pairs like EUR/SEK.

Cryptocurrency trades are “commission-free” when opening a position, but (like forex) they make their fees on the spread. The spread can range from 1.5% for Bitcoin (BTC) to 3% Litecoin (LTC) to 5% on less popular (and liquid) currencies like NEO. The spreads vary during periods of heavy volatility and liquidity. BTC spreads can range from 100 to 225 pips. Therefore, it’s wise to consider using limit orders.

Commodities trade spreads range from two pips for copper to 45 pips for gold trades.

Stock and ETF trades have a 0.09% minimal spread fee for both buy and sells.

Stock and ETF trades held overnight (CFD trades leveraged or sold short) incur additional daily fees of 6.4% + one-month LIBOR for buy orders and 2.9% + one-month LIBOR on sell orders. (IE: A $1,000 value buy order results in a $0.22 daily fee. A short-sell position results in a $0.12 daily fee.)

The minimal account starting account balance ranges from $200 to $10,000 (residents of Israel) depending on your region. However, a demo account is provided free-of-charge just for registering as a user. There are no software fees. There is a $5 inactivity fee if no trades are made during 12-months. There are also various withdrawals fees based on the region.

eToro Platform Features and Tools

The platform is accessible on desktop as well as mobile on Android and iOs. There is no direct-access trading and the order entry is suited for investors and newbie traders who don’t require sophisticated tools. The navigation is very intuitive and fits like a glove for most experienced traders with a very shallow learning curve. The demo is identical to the live account platform, which makes it easy to learn.

Charts

The eToro Procharts has various types of charts including candlestick, bar and line with time frames ranging from 1-minute to monthly. It has drawing tools that enable trend lines and basic indicators from moving averages to Bollinger Bands. Multiple charts can be opened on the workspace to show multiple time frames on a single asset or multiple assets to compare performance and any combination of each.

Users can click news for access to headlines and articles relating to the underlying symbol. The newsfeed also allows for keyword searches or a general stream of headlines that you can configure by symbols, themes or markets.

Watchlists

Traders can create watchlists of their favorite markets and trading instruments. It’s pretty fluid and impressive having such a variety of diverse products all in a single window. You can also set up watchlists of traders on the platform to follow their performance and trades. Ultimately, you may consider the CopyTrade function if the style and strategy fits yours preferences.

Margin/Leverage

eToro renames leverage as ‘risk level’ , which can range from 2x to 400x depending on the underlying financial asset. The max risk level on stocks range between 5x to 10x. Currencies range from 50x to 400x. ETFs have a max 5x and commodities range between 10x to 100x. There is no leverage provided for cryptos. With this kind of leverage, it’s crucial that newbies understand they can owe more than they have in their account if margin calls trigger.

eToro’s Trading Academy

From live webinars to e-courses and training videos, eToro provides a nice array of learning content to get newbies situated with the platform. The material doesn’t dive too deep into specific methodologies, that’s on the user. However, the instructional content allows for quicker acclimation to the platform.

Order Entry

The order entry windows have a comprehensive set of user-configured conditions. The ability to place limit orders with conditions like risk level (leverage) along with pre-set profit and stop losses are very convenient. There is no ‘direct-access’ on stocks as all orders are routing through eToro based on their own spreads, which will different from other platforms since they factor in their fees.

Watch Lists

Users can create and customize their own watch lists or use the pre-set watch lists like the most active stocks or benchmark index stocks like the S&P 500 or Nasdaq 100. Stocks can be linked to charts so simple click on any symbol in a watch list can quickly update the chart along with all your indicators and studies.

Social Trading

This is one of the most unique aspects of eToro. While many fintech’s have tried the social network approach to markets, eToro set up a system that is equally rewarding to both the following and followed traders. This is the main platform differentiator coupled with the convenience of mobile trading.

CopyTrader

This function enables users to allocate up to 25% of their accounts to autotrade, mirror, the trades placed by selected Popular Investors . This win-win situation enables followers to mirror performance while the traders receive various fees and benefits based on the number of ‘Copiers’ autotrading their trades. Users can also apply to be a Popular Investor for an opportunity to earn fees based on level rankings from Cadet to Elite.

CopyFund

There are two types of CopyFunds. Top Trade CopyFunds include top performing traders for specific strategies and mirrors their trades, whereas Market CopyFunds are based on financial assets only, not traders. These are constructed by eToro’s investment teams. Minimum investments are $5,000.

Customer Service

eToro has 24/5 customer service via online/mobile chat. Visitors and existing users have access to the help center and ability to open tickets. The website operates in 14 different languages.

eToro Platform Differentiators

eToro stands out due to the social tools incorporated into the platform. There are very few established companies that offer social trading features and “Copy trading.” That said, traders should be careful to not become overambitious in their pursuits of profit. Copy trading is not always as simple as it sounds.

eToro also covers a wide range of assets, including stocks and Forex.

What Type of Trader Is eToro Best For?

eToro is an exciting brokerage platform that takes a direct approach to social investing. This platform is great for beginners to seasoned traders and investors, who are educated in the underlying financial assets they are trading. While the learning curve is shallow thanks to the tons of education and instructional content, it’s easy to get over confident with the leverage.

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