eToro Review – Is it a Scam or Legit Broker (2021)

Information source:
The source of this information is the website and the broker's trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business.

In this eToro Review, we are going to take a look at the offer that this broker prepared for its traders. eToro is regulated by the CySEC in Cyprus, by the ASIC in Australia and by the FCA in the UK. eToro operates on the financial market since 2006. When it comes to trading platforms, the broker features WebTrader. The eToro minimum deposit is 200 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this eToro Review

Website address:https://www.etoro.com/en 67% of retail CFD accounts lose money
Operated by: eToro group
Licensed and authorised by regulatory bodies:CySec ASIC FCA
Supported languages:English, German, Spanish, French, Italian and Portuguese
Customer support available via:E-mail, live-chat
Contact details:[email protected]
Available deposit methods:Bank transfer, VISA, MasterCard, Giropay, Local Bank Deposits, Local bank transfers, Neteller, PayPal, Skrill, UnionPay, WebMoney, Yandex Money
Available withdrawal methods:Bank transfer, VISA, MasterCard, Giropay, Local bank transfers, Neteller, PayPal, Skrill, UnionPay, Yandex Money
Minimum deposit:200 USD
Min. trade in lots:0.1t
Spreads:Typical spread on the currency pair EUR/USD - 1,0 pips * on standard account type
Tradable assets:
Might be a CFD.
Forex (45), cryptocurrencies (30)
Mobile app: Yes
MetaTrader 4:No
Other trading platforms:WebTrader
Social trading:No

eToro Fees (typical spreads)

We have scanned fees (typical spreads) that eToro charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
1,5* 1,0* * 2,0* 2,0* 1,0*

*Typical spreads were recorded on 15.02.2021 at 09:55 for the standard account. eToro spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: AAATrade, GCG24, ProofFX and Darico

Frequently Asked Questions

🧐 Is eToro a Scam?

eToro is a broker licensed and regulated by the CySec, ASIC and FCA. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that eToro is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the eToro minimum deposit?

In order to start trading with eToro, you have to deposit at least 200 USD.

📵 What deposit and withdrawal methods eToro supports?

eToro allows funding your account via Bank transfer, VISA, MasterCard, Giropay, Local Bank Deposits, Local bank transfers, Neteller, PayPal, Skrill, UnionPay, WebMoney, Yandex Money.

⚖️ Would you recommend me choosing eToro?

We don’t have our own personal experience with eToro. However, because the broker is regulated by the CySec, ASIC and FCA, there is a high chance that it is not a scam. With that being said, it still does not mean that eToro is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker IQ Option – 71% of retail CFD accounts lose money , which is a CySEC regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC FCAFSCA £/€/$ 50 MT4 0.7 PIPs ¹
  • Competitive Spreads
  • Dedicated customer support in 30 languages
Start tradingRead a review
CySEC FCA £/€/$ 200 In-house built platform 1.0 PIPs ¹
  • The World's Leading Social Trading Network
  • International support
Start tradingRead a review
CBIFSCAASIC £/€/$ 100 MT4 and MT5 0.9 PIPs ¹
  • International support
  • Long-established company
Start tradingRead a review

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

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

¹ Variable spreads, spreads recorded for the EUR/USD on 05.10.2021 at 11:42 GMT.

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