EToro review: is Etoro safe? Here in the Etoro review UK, fees and trading platform

EToro is one of the biggest forex brokers in UK and the world. It became famous thanks to its unique trading platform, the social trading and copy trading, the Etoro minimum deposit and the crypto trading. Are you asking yourself: is eToro safe? Read this review to find your answer.

etoro review

A trustable and regulated trading platform that in the last year attracted a lot of traders from all over the world engaging them with many unique offers and promotions. What are the main characteristics?

Read our eToro review for UK and the rest of the world and discover all the details about this broker.

Is EToro safe or a scam?

EToro is a company which belongs to the eToro (Europe) Ltd. society in UK. It isn’t a scammy broker and it has more than one regulation:

  • Cysec regulation number 109/10
  • FCA regulation for EToro UK number FRN 583263

So to the question: is eToro safe? The answer is YES! It is safe to trade with this trading platform and we explained the importance of that in the homepage here. These 2 are the most import regulations in this EToro review UK and for the rest of the world.

EToro characteristics

etoro review

Let’s see now the different characteristics which make this broker unique in UK:

  • EToro minimum deposit: $200
  • Minimum trade: $25
  • Leverage: up to 1:30
  • Copy Trading
  • Social Trading
  • Assets: 100+ (CFDs, Forex, ETF, Cryptocurrencies, Stocks, Commodities)
  • Mobile App: yes

Open a Free Trading Account

*65% of retail investor accounts lose money when trading CFDs with this provider in UK and worldwide. You should consider whether you can afford to take the high risk of losing your money.

EToro uses its self-developed platform which is very intuitive and easy to use for every type of trader. Every asset can be found on the research bar on top.

To open a trade it’s just necessary to click on the button “trade” and set up the amount of money to invest and the take profit and stop loss prices.

An interesting point of this broker is the flexible leverage. This means that for every position it’s possible to set up a different leverage from 1:30 to 1:400 for the most expert traders in UK.

To start trading, the eToro minimum deposit is £200 in UK and $200 around the world. The minimum trade is $25. However, the broker offers the opportunity to set up a stop loss for every trade or close them manually in order to manage the risk.

It’s possible to trade in more than 100 different assets between traditional currencies like EUR/USD, indexes, ETF, Stocks, and cryptocurrencies.

If a trader is looking for cryptocurrency trading, the minimum deposit required is always the same.

In 2017 the broker has been one of the first ones to introduce the crypto trading in its offers, and this made it a world leader in this type of trading.

Finally, the copy trading and social trading offers make this broker unique.

Open a Free Trading Account

*65% of retail investor accounts lose money when trading CFDs with this provider in UK. You should consider whether you can afford to take the high risk of losing your money.

EToro copy trading

Every day more traders decide to start trading with eToro because of the opportunity to do copy trading. This particular trading offer is mention in many eToro review UK posts.

etoro copy trading

But what is it?

As you can understand from the name, copy trading it’s the opportunity to copy the trades of other traders.

In eToro, every trader can choose to show publicly its results. This means that everybody in the network can see them, the percentage of positive trades and the percentage of profits.

On top of that, it’s possible to copy these traders and their trades with a minimum trade of $25.

With few clicks, each user can set up its account in order to copy automatically the trades of another eToro trader and monitor the results.

Many people have used this feature: beginners who don’t know how to trade can copy trades from the most expert ones. But even if you are an expert without a lot of time to trade, then you can copy automatically other people trades and optimize your time.

EToro social trading

EToro is one of the few brokers offering a social trading platform.

etoro social trading

What does social trading mean?

This broker has been the first one to launch the social trading. To understand what it is, just think at a social network like Facebook.

Every trader has a personal profile and the opportunity to share live his own trading thoughts like in Facebook. Obviously, all the ideas and personal thoughts are trading related and they can be simple trading suggestions or even forex trading strategies.

It’s up to you if you want to follow them or not.

This has made the broker unique, because people can share their experience and ideas in the network, discuss them and decide how to move.

Open a Free Trading Account

*65% of retail investor accounts lose money when trading CFDs with this provider in UK. You should consider whether you can afford to take the high risk of losing your money.

EToro demo account

EToro offers to its clients the opportunity to start trading with a free forex demo account.

etoro demo account

The demo account has $10.000 and the minimum trade for every single position is $25. For the UK the demo account has £10.000. The minimum trade for both is $25.

As we mentioned many times on this website, start trading with a demo account is a good opportunity to build confidence with the trading platform and feel safe in your trades. This doesn’t require any minimum deposit and it’s free.

In fact with a demo account, it’s possible to test all your strategies without any risk because you are trading virtual money. Plus thanks to the minimum trade of only $25 the number of possible tests are enough.

The eToro forex demo account works exactly like a real account, so when you’ll decide to switch from demo to real, you won’t find any difference.

This is an opportunity that we recommend to take for testing the platform without any risk and any minimum deposit.

How to use EToro

Are you asking yourself: “Etoro, how does it work?”, here you can learn how this trading platform works.

EToro has a web-based trading platform. It doesn’t need any installation on the laptop and it’s very easy to use.

The first step is to open an account and make a minimum deposit.

Then in the watchlist section on the left side, it’s possible to select the market you want to trade in. It’s possible to choose from currencies, indexes, stocks, commodities, and cryptocurrencies. (Here you can learn more about cryptocurrency trading)

It’s also possible to research for a single asset in the search box on the top bar.

Once you have found the right market you can see that the relative bar is divided into different sections:

  • Market: this is the interested market
  • Change: it shows the last trend of that asset
  • Sell: the price you are going to sell at
  • Buy: the price you are going to buy at
  • Sentiment: it shows what are the other traders’ feelings about that market

When you click on sell or buy, the trading window will automatically open.

In there it’s possible to set up your position. As you see you can decide the amount of money you want to invest, the leverage and the prices of take profit and stop loss.

If you want to set up a pending order, you can click on the voice “trade” on the top right corner, and select “order”. Like this, you can set up the price to enter the market. The minimum trade is $25.

Finally with a simple click in the blue button “Open Trade” the position will be opened.

You can monitor all the opened positions in the Portfolio section and from there close manually all the trades you want.

Open a Free Trading Account

*65% of retail investor accounts lose money when trading CFDs with this provider in UK. You should consider whether you can afford to take the high risk of losing your money.

To discover more about forex trading please go here. For learning how to trade forex here.

EToro App

Like all the brokers, eToro has a very modern App available for all the traders.

The App can be directly downloaded from your personal eToro account. It’s available for iOS and Android devices.

In the App, the minimum deposit and minimum trade are the same as the web version, and all the deposit and withdrawal fees don’t change.

Trading with an App today can make the difference. Not a lot of people have time to spend in front of the computer. Trading with a mobile device available in every place you are allows you to trade whenever you want.

EToro deposit and withdrawal fees

etoro withdraw

It’s possible to deposit and withdrawal with eToro in many secure ways:

  • credit card – Visa or Mastercard
  • bank wire transfer
  • MoneyBookers (Skrill or Neteller)
  • local payment methods

The fastest options are by credit card, Moneybookers or a local payment method such as some prepaid cards accepted in many countries.

Depositing by wire transfer usually takes from 2 to 4 working days before having the money accredited in the account. The broker doesn’t charge fees for any deposit.

If you want to make a withdrawal your money you can receive it back in the same payment method used to deposit, or in a different one from the list above without fees.

The minimum sum you can withdraw is $20 and usually, it takes from 3 to 5 working days before having it accredited in your card or bank account without withdrawal fees.

EToro Contact Details

etoro phone number

In case you need help or answers to some questions, you can easily contact their customer service by live chat, email or phone number.

You can find the live chat mode easily in your personal profile, and the email contact too.

By email usually an account manager replies within 24 hours, but the most effective way to contact Etoro is by phone.

In this page, you can find all the important information, phone numbers and contact details:  https://www.etoro.com/customer-service/

You can contact the support in many languages:

  • English
  • German
  • French
  • Spanish
  • Italian
  • Russian
  • Polish
  • Portuguese
  • Thai
  • Chinese
  • Swedish
  • Norwegian

So if you need some help with your trading account, minimum deposit or withdrawal fees, do not hesitate to contact their support service with one of the different available aways. It’s important to mention that contacting the support doesn’t cost money or hasn’t any kind of hidden fees.

EToro Market Hours

etoro market hours

In the EToro platform is possible to trade in different assets: currency pairs, indexes, commodities, stock, and cryptocurrency.

We can divide these assets into 2 different groups:

  1. cryptocurrency
  2. normal currency, indexes, commodities, stock, ETF

For the first group, the market hours are always open: 7 days a week for 24 hours.

For the second group, the Etoro market hours are from Monday early morning to Friday night at 23:59. This is because for the normal assets the market hours are related to the normal stock and shares markets hours of U.S.A. Europe, UK, and Japan.

Because of this reason the Etoro market hours are the above mentioned time. The only moment when it is not possible to trade on the normal assets is during the weekend till Monday morning at 01:00 a.m.

When trading overnight, the broker doesn’t ask for any fee.

New Cryptocurrency Spread

The broker is one of the leaders for cryptocurrency trading, and in November 2018 it reduced their spreads of 50% for all the cryptocurrency assets. Trading cryptocurrency is fees free.

Here all the new details:

  • BTC – Reduced from 1.5% to 0.75% against all fiat currencies
  • BCH – Reduced from 5.0% to 1.9%
  • XRP – Reduced from 3.5% to 2.45%
  • MIOTA – Reduced from 6.0% to 2.9%
  • XLM – Reduced from 5.0% to 2.45%
  • NEO – Reduced from 5.0% to 1.9%

This is a great advantage for all the cryptocurrency traders because they can enter the market at prices which are much more similar to the real ones.

Conclusion

To sum up the eToro review UK hopefully, you have the answer to “is Etoro safe?”, and now you can feel secure to open an account with this regulated and trustable broker.

Thanks to its vast offer of products like the social trading, copy trading, the eToro minimum deposit, the minimum trade, and free demo account there is the opportunity to understand more about trading and learning from people with some experience for free.

Finally, the opportunity to trade with its mobile App gives you the chance to take advantage of every market situation every time and from everywhere.

Open a Free Trading Account

*65% of retail investor accounts lose money when trading CFDs with this provider in UK. You should consider whether you can afford to take the high risk of losing your money.

Here an overview on how to choose the best trading platform and their minimum deposit.

EToro review: is Etoro safe? Here in the Etoro review UK, fees and trading platform late update: 2018-05-07T15:22:43+00:00 by Luke Robinson