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.
| Regulated by | FCA (583263); CySEC (109/10); ASIC (AFSL 491139); Seychelles FSA (SD076); ADGM FSRA (220073); MAS (CMS101824); SEC/FINRA (CRD 298361) |
|---|---|
| Regulator tier | Tier 1 |
| Register entry | FCA Financial Services Register, FRN 583263 |
| Client money segregated | Yes |
| Held at | J.P. Morgan, UBS, Citi, Barclays and other applicable custodian banks |
| Negative balance protection | Yes |
| Compensation scheme | FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients; SIPC up to $500,000 including $250,000 cash for eligible US securities clients |
| Audited by | EY |
| Not available to | Afghanistan, Belarus, Cuba, Iran, North Korea, Russia, Syria and other unsupported/restricted jurisdictions |
| Spread from | 0.2 pips |
|---|---|
| EUR/USD spread | Approx. 0.5 pips |
| GBP/USD spread | Approx. 0.5 pips |
| Commission | $0 |
| All-in cost, EUR/USD | Approx. 0.5 pips |
| Spread type | Variable |
| Overnight swap | Both: overnight fees apply to leveraged/CFD positions |
| Withdrawal fee | $5 from USD account; free from eligible local-currency accounts |
| Currency conversion | Variable by currency, payment method, location and eToro Club tier |
| Minimum deposit | $50 |
|---|---|
| Account types | Retail, Professional, Corporate, Islamic, Demo |
| Account currencies | USD, AUD, GBP, EUR, DKK |
| Islamic account | Yes |
| Demo account | Yes, unlimited with $100,000 virtual funds |
| Professional account | Yes |
| Minimum trade size | $10 |
| Time to open | Typically a few minutes |
| Platforms | eToro Web Platform, eToro mobile app |
|---|---|
| Own platform | Yes |
| Mobile app | Proprietary |
| Browser trading | Yes |
| Automated trading | No traditional MT4/MT5 EAs; automation possible through API/app ecosystem |
| Copy trading | Yes, CopyTrader |
| Indicators | 100+ |
| Third-party tools | TradingView charting, TipRanks, AI-powered tools/apps |
| API access | Yes, Public API |
| Markets | Forex, Stocks, ETFs, Indices, Commodities, Cryptocurrencies, Futures |
|---|---|
| Currency pairs | 60+ |
| Total instruments | 7,000+ |
| Crypto CFDs | Yes, jurisdiction-dependent |
| Maximum leverage | 1:30 |
| Execution model | Market maker / principal execution |
| Execution speed | Under 1 second |
| Order types | Market, limit, stop-loss, take-profit, trailing stop-loss |
| Servers | Global cloud/data-centre infrastructure |
| Deposit methods | Credit/debit card, bank transfer, PayPal, Skrill, Neteller, eToro Money and regional methods |
|---|---|
| Withdrawal methods | Bank transfer, cards, PayPal, eToro Money and supported payment methods |
| Deposit time | Instant for cards and most e-wallets; bank transfers generally 4-7 business days |
| Withdrawal time | Typically up to 10 business days depending on method |
| Minimum withdrawal | $30 from USD account; no minimum from eligible local-currency accounts |
| Local payment methods | eToro Money; local bank transfer and jurisdiction-specific payment methods |
| Support hours | 24/5 |
|---|---|
| Contact channels | Live chat, support ticket/email |
| Languages | 20+ languages |
| Telephone | N/A |
| customerservice@etoro.com | |
| Live chat response | Typically under 5 minutes |
| Education | Extensive: eToro Academy, courses, guides, videos, tutorials and webinars |
| Research | Extensive: market analysis, news, analyst research, sentiment, TipRanks and community data |