Social/copy-trading pioneer with unusually strong US regulatory presence, though it lacks MetaTrader and carries wider forex spreads than dedicated FX brokers.
eToro's homepage.
eToro has been operating since 2007 out of Tel Aviv, with major operational hubs in Cyprus and the UK. Its regulatory footprint is unusual among the brokers we cover: alongside the FCA (583263), CySEC (109/10), and ASIC (491139), eToro also operates a FINRA/SEC-registered broker-dealer in the US (eToro USA Securities Inc), a level of US market access none of the other 11 brokers on this list offer, since CFD trading is illegal for US retail clients generally.
eToro's identity is built around CopyTrader (which automatically mirrors other traders' positions) and Smart Portfolios, thematic investment baskets. This is an independently-documented product differentiator, not marketing fluff.
eToro doesn't offer a raw/ECN account. Forex/CFD pricing is variable, starting around 1.0 pip on EUR/USD, reflecting that FX/CFD trading isn't the core of eToro's business model the way it is for dedicated forex brokers. One structural quirk to note: the core account is USD-denominated only, so depositing in other currencies means a conversion cost.
eToro runs exclusively on its own proprietary web and mobile platform, with no MT4, MT5, or cTrader support at all. If you rely on Expert Advisors, custom indicators, or third-party algo tools, eToro isn't built for that. What you get instead is a simpler interface built around CopyTrader and real (non-CFD) share, ETF, and crypto ownership when trading without leverage.
eToro is the right pick if social/copy trading and the option of real share or crypto ownership matter more to you than raw forex pricing. It simply isn't built to compete on tight FX spreads. If pure forex cost is your priority, a dedicated ECN broker like IC Markets or Admirals will beat it on price.