eToro Review

Overview

eToro began in Tel Aviv in 2007, when Yoni Assia, Ronen Assia and David Ring founded it under the name RetailFX. It has since grown into one of the best-known social investing platforms, with around 40 million registered users and more than 3.6 million funded accounts as of May 2025. That same month the company listed on Nasdaq under the ticker ETOR. eToro is not a pure forex broker. It combines real stocks and ETFs, crypto assets and CFDs on currencies, indices and commodities in one app, and its signature feature is copy trading, where you can automatically mirror other users' portfolios.

For currency traders, eToro offers at least 65 FX pairs as CFDs, priced through spreads rather than commissions. The platform aims at simplicity and community rather than advanced execution, and that shapes both its strengths and its limits.

Regulation and safety

eToro runs through a network of regulated companies, and your entity depends on where you live. eToro (UK) Ltd is authorised by the FCA (FRN 583263). eToro (Europe) Ltd holds CySEC licence 109/10 and serves most EU clients. eToro AUS Capital Limited holds ASIC licence AFSL 491139. eToro Singapore is licensed by MAS (CMS101824), and eToro (ME) Limited holds an ADGM FSRA permission (220073). There is also an offshore entity, eToro (Seychelles) Ltd, licensed by the FSA Seychelles (SD076). In the US, eToro USA Securities Inc. is registered with the SEC and FINRA. The full list is on eToro's regulation and licence page.

The firm has a regulatory history worth knowing. CySEC fined it EUR 50,000 in 2013, and a Canadian regulator imposed a settlement in 2018 for operating without a licence there. Italy's competition authority fined eToro EUR 1.3 million in 2023 over advertising of commission-free trading. In 2023 ASIC began Federal Court proceedings over how eToro distributed high-risk CFDs, and in September 2024 eToro USA LLC paid USD 1.5 million to settle SEC charges related to its US crypto trading service. None of these cases involved a loss of client funds, but together they make up a longer list than at some peers.

Fees and costs

Forex on eToro is commission-free, with costs built into the spread. eToro's own spreads page shows EUR/USD at 0.005% of trade value as a minimum, and ForexBrokers.com puts the typical EUR/USD spread at about 1 pip, which it judges above the industry average. Overnight financing applies to CFD positions held past 22:00 UK time, with triple charges midweek or on Fridays depending on the asset.

Other charges depend on how you fund the account. Withdrawals from a USD account carry a flat USD 5 fee with a USD 30 minimum, while withdrawals from local-currency GBP, EUR or DKK accounts are free. Currency conversion fees vary by country, payment method and eToro Club tier. Real stocks are commission-free for US and UK shares in many regions, but crypto trades carry a 1% fee.

Accounts and products

eToro does not split clients into standard and raw-pricing accounts. Everyone uses the same account, and benefits grow with balance through the eToro Club tiers, which can, for example, reduce conversion fees. The minimum first deposit varies by country: about USD 50 in places like Australia and parts of the EU, USD 100 in the UK, and higher in some markets, with Israel at the top end at USD 10,000. A swap-free Islamic account is available, though one review notes it requires a USD 1,000 deposit. Professional clients and the offshore entity can access higher leverage, up to 1:400 according to ForexBrokers.com, while retail clients in the UK, EU and Australia are held to 1:30 on major pairs.

US customers can use eToro only for stocks, ETFs and some crypto services. Forex and leveraged CFDs are not available to them.

Platforms and tools

eToro runs its own web platform and mobile apps instead of MetaTrader. The interface is clean and easy for newcomers. Each instrument has a social feed and sentiment data, and the CopyTrader tool lets you allocate funds to other investors and copy their trades in proportion. Popular Investors are paid by eToro based on assets copied, and themed Smart Portfolios bundle assets around a strategy. A virtual account with USD 100,000 in demo funds is available for practice.

Experienced FX traders will notice missing features. Automated trading and expert advisors are not supported, ForexBrokers.com reports that stop-loss and take-profit can be set only once a position is open, and there are no OCO orders or depth-of-market tools.

Deposits and withdrawals

eToro supports many funding methods: bank transfer, debit and credit cards, PayPal, Skrill, Neteller, Apple Pay and Google Pay, with availability that varies by region. eToro Money, its companion app with FCA- and MFSA-regulated payment entities, helps EU and UK users move money in local currency and avoid conversion costs. Withdrawals are usually processed to the original funding method.

Who it suits

eToro is best for beginners and investors who want a simple app that combines stocks, crypto and a few FX trades, and who are interested in learning from or copying other users. It is less suitable for cost-sensitive forex scalpers, algorithmic traders, or anyone who needs MetaTrader, raw spreads or advanced order types.

Verdict

eToro offers a polished social investing experience, broad tier-1 regulation and a public listing that adds transparency. Its forex pricing is average at best and its tools are basic for serious currency traders. The fines and the ASIC litigation should be weighed alongside its scale and strong user base. Visit the official eToro website for the current terms in your country.