Forex Trading

eToro Crypto Review 2024

Arguably the most exciting feature of eToro’s trading app is the ability to automatically copy successful traders’ trades using the platform’s social trading feature. For U.S. customers, stock and ETF trading is offered via eToro USA Securities, which is a member of the Securities Investor Protection Corporation (SIPC). However, trading of cryptocurrencies is offered by eToro USA, which is not FDIC or SIPC insured.

The platform shines with an intuitive site design so investors can easily discover traders they’d like to follow or quickly place their own trades on the platform. The social trading experience is the standout feature of eToro’s trading experience. The CopyTrader dynamic paired with the Popular Investor Program gives the platform an engaging, collaborative feel. The introduction of stock and ETF trading combined with eToro Money cash management and Smart Portfolios further expands the range of users that can utilize the platform’s services. Innovative approaches to ESG screens and filters also attract investors who prioritize these aspects.

With the introduction of stock and ETF trading in 2022, the education material still has a lot of room to grow so that the platform provides more comprehensive, insightful content. A filter lets you quickly toggle the educational library between beginner and advanced material so that you can customize the experience to your skill level. A variety of educational formats are available as well, with long-form articles and videos as options. However, the eToro Club offering provides you with five separate site tiers that progressively unlock more research features and news options as you level up. The tiers range from Silver, Gold, Platinum, and Platinum+ to Diamond, requiring deposits ranging from $5,000 to $250,000. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners.

EToro operates in more than 140 countries, underscoring the platform’s ability to appeal to a diverse range of users. EToro is available to most but not all investors in the United States. The service is best aligned with traders who want a social and crypto focus, but traders seeking more than this will likely find alternative online brokers better suited to them. Twitter and eToro partnered on April 13, 2023, to release a new investing feature on the popular social media platform.

For U.S. citizens, users can buy and sell 8 cryptocurrencies on eToro and trade more than 2,300 stocks and ETFs. Services are available in 47 states, the District of Columbia, Northern Marianas, and the United States Minor Outlying Islands. EToro USA offers 24 different cryptocurrencies, 11 best forex trading books you must read including bitcoin, ether, litecoin, and dogecoin. The platform also offers SmartPortfolio, which is a blend of cryptocurrencies aimed at matching certain themes or market sectors. EToro USA and Robinhood Investing were once entirely different platforms.

  1. This charting feature helps you analyze an asset’s history and performance by providing line, bar, and candle charts.
  2. Users won’t find many order types beyond basic market and limit orders, which prevents more complex traders from getting the most out of the system.
  3. A social news feed adds another interactive element to the experience, with the site functioning much like a distinct social media feed.

EToro offers a professional cryptocurrency exchange, enabling users to execute a range of advanced trading strategies. In 2017, it expanded its digital asset offering to include XRP, Litecoin and a host of other cryptocurrencies. Its U.S. crypto platform was launched the following year, and in 2022 eToro introduced stock and ETF trading for U.S. investors. Coinbase offers more than 250 cryptocurrencies, making it the stronger option for crypto-focused investors as eToro USA is more limited. Coinbase also offers numerous features for institutional clients like commerce, ventures, and crypto compliance services. EToro provides limited portfolio analysis, especially in comparison to competitor platforms.

In 2013, eToro expanded to stock trading and, in addition to commodities and currency trading, expanded access to European, Asian and Australian markets. Investors who meet eToro’s criteria to become a “Popular Investor” can opt to have their portfolios copied by other eToro users in exchange for payments. EToro is not a good choice for hands-off investors (unless you solely want to invest in eToro’s crypto SmartPortfolio). A social news feed adds another interactive element to the experience, with the site functioning much like a distinct social media feed. Trading decisions and news can also be shared to external social media sites such as Facebook and X.

Company Overview

You can invest in a wide variety of portfolios that focus on everything from private equity and infrastructure to technology and health care, while blending the allocation of ETFs, stocks, and cryptocurrency. An investment team monitors the portfolio offerings to ensure that they continue to match thematic elements and risk parameters. The flagship CopyTrader and Popular Investor Program features are the highlight of the platform. These offerings combined with the site’s interactive nature can make the user experience feel more akin to a social media platform than a traditional brokerage service. In addition to these areas, another unique aspect of the platform is embedded ESG ratings that score assets based on socially conscious factors.

Methodology: How We Reviewed eToro

EToro’s mobile app is user-friendly and created with a simple, uncluttered design. The straightforward design combined with the feel of a social media app makes for an innovative, creative user experience. The app is built with interactive functionality so you can engage with other traders and navigate to popular investor profiles. Top investment apps offer multiple assets, account features, and market access for different trading needs.

Available Account Types

EToro offers a unique social trading feature called CopyTrading that allows investors to mimic the trades of successful investors. This investment feature fosters a community of learning and sharing but also provides beginners with the benefit of watching how experienced investors trade. EToro USA is an intuitive, easy-to-use online investment platform suitable for hands-on investors wanting to trade cryptocurrencies, stocks, equity funds, options, and more. Although eToro USA offers significantly fewer coins and tokens than its parent platform, you’ll still get access to top currencies like bitcoin, ether, and dogecoin. EToro’s Smart Portfolios let you select from diversified automated portfolios so you don’t have to allocate your money yourself.

Popular Investor Program members are compensated the more copiers they have. Payouts can reach up to 2% of the amount of assets a trader has on the platform. As part of the Copy Trading platform, eToro says US investors also have access to SmartPortfolios for a $500 minimum and no management fees. These fully allocated crypto portfolios are based on a certain theme or strategy.

EToro’s social trading feature allows users to observe trading behaviors from popular and successful investors within the eToro USA community. Other investors can then mimic these portfolios to match their trades. However, the CopyTrader system is only available for crypto portfolios. Like many of the best cryptocurrency exchanges, eToro is great for hands-on crypto traders who value a more communal trading experience. It’s also a good choice for folks looking to invest in low-cost stocks, fractional shares, ETFs, and options trades. EToro and Coinbase are both popular cryptocurrency exchanges offering various crypto products.

You can also screen for socially responsible investing (SRI) and ESG factors with a filter when searching for assets. EToro doesn’t have a traditional, detailed stock screener allowing you to filter by price-to-earnings, market cap, and so on. What it does have is a biggest daily movers list that can be further filtered by industry or exchange. Filtering the list will also display the sentiment of users on the platform with a percentage of people buying listed. EToro actually makes money by taking the difference between bid and ask prices.

EToro’s cash management service, eToro Money, and the automated portfolio management service Smart Portfolios are also available in the United States. While the platform is available in more than 40 states, eToro is not available to everyone across the country. EToro offers an innovative trading platform highlighted by a unique social trading experience. With eToro’s social trading network, users can explore and copy the trades of more experienced investors for crypto, stock, and ETF assets.