Eventually, eToro Review found that the broker holds awards as Best Broker for Cryptos, Best Broker for Social Trading and many more “best” titles are in its list. A key point are the performance metrics and the information of how much the traders you can copy have made in the past, since this is the main information investors will use to make decisions (even though as with any investment, past results don’t necessarily guarantee future earnings … yep, you know the tag line). This website is free for you to use but we may receive commission from the companies we feature on this site. So why did 6 million customers choose this platform and is eToro good or worth it? They are one of the pioneers in adding social features to their platform in the form of CopyTrading and CopyPortfolios. Share this article [addtoany url="https://55brokers.com/etoro-review/" title="eToro"]. Lastly, there is an inactivity fee, which exists too when depositing account deemed inactive for 12 months, a monthly fee to the sum of $10 will be charged. They actually ranked traders based on the number of profitable trades, meaning traders with a 100% profit success rate were always top. 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. If you are outside of the USA, use the following link for eToro international. The Government of Gibraltar and the Gibraltar Financial Services Commission (GFSC) have set out regulations covering distributed ledger technology (DLT) businesses and eToroX operates under the framework administered by the GFSC. In terms of brokering services, Yes eToro is safe due to heavy regulation the company complies with. The minimum quantities for manual positions are based on the instrument. Once your account is activated and proved, follow with the money deposit. Create a portfolio with cryptocurrencies, stocks, commodities, ETFs and more. It has a list of minimum spreads for each cryptocurrency, and those rates are not guaranteed. Fees are always defined by several points, which are typically consisted of the spreads as the main fee charged on each position you take, commissions if applicable, inactivity and non trading fees. The entity which is eligible to offer its service holds an Australian license and also authorized Financial Service provider in South Africa. Your email address will not be published. Your POA document can be one of the following: The last step in the verification process involves completing a financial questionnaire which covers your financial suitability for investing. We’ve seen quite of few people asking or questioning whether eToro is a scam. One of the advantages of using this exchange is the lack of deposit and other trading fees, except for spreads. It’s important to note that any form of trading involves risk. The company as a whole is fully regulated and adheres to guidelines of FCA and CySEC.