eToro
eToro is another forex trading broker that is regulated and offers low fees and 0% commission. This forex trading broker offers competitive spreads on many asset classes, including spreads as low as 1 pip for leading Forex pairs. This forex broker is an excellent trading platform that offers wide range of finacial instruments to trade, including stocks, cryptocurrencies, and more. The is user-friendly and easy to navigate, making it a great choice for both beginners and experienced traders alike.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies. This makes this forex broker one the best ones for the beginners or who are getting into forex trading. If you are a beginner it has a very simple to use demo account which you can trade via a computer or even on a mobile device using their app available on apple store and play store.
Trust worthy?
eToro is considered highly trusted, with an overall Trust Score of 95 out of 100. eToro is not publicly traded, does not operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).
Although not publicly traded and not an operating bank We would still give eToro a very high trust rating as it tick the boxes. It was founded 2007 which is almost over 20 years of being well established. It regulated by a number of regulators and holds two tier 1 licences which is highly trustedand one tier 2 licences. Also it has over 30 million users globally trading over 3000+ assets
eToro Pros and Cons
Pros 👍
- eToro was founded in 2007 and is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (low-risk) for trading forex and CFDs.
- eToro is excellent for social copy trading and cryptocurrency trading and was our top pick for both categories for our 2023 Annual Awards.
- Fantastic for ease of use thanks to its user-friendly web platform and the eToro mobile app that is great for casual and beginner investors.
- eToro continues to expand its available range of markets as a multi-asset broker with over 3,000 symbols available.
- Offers indemnity insurance of up to EUR 1 million per client in the EU, the U.K., and Australia.
- VIP-style perks are available for club members and popular investors that reach higher tier status.
Cons 👎
- Trading forex and CFDs at eToro is slightly pricier than most of its competitors, despite recently cutting spreads and introducing zero-dollar commissions for U.S. stock trading.
- eToro's range of traditional research materials and tools is limited compared to its peers.
- Automated (algorithmic) trading strategies are not supported at eToro.
- Mandatory stop-loss and take-profit may hinder certain trading strategies.
- Trading Central research and tools are only available to certain eToro Club members who have reached higher Club tiers.
eToro overall
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Minimum Deposit
£100-£10,000
Trust score
95/100
Tradable Symbols
3664
Platforms
eToro links
Assets and Markets