eToro Review

A new wave of investors is learning about trading through short-form content, social media, online communities, and collaborative experiences. eToro was built to cater to this type of investor. If you thrive on debating strategies, learning from like-minded traders, and a community-centric investing experience, eToro is your platform.

eToro's social-first design is the main draw, but I found its surprisingly insightful stock research, helpful education, and innovative tools reason enough for any community-driven investor to open an account.

Pros & Cons

Note: If you are in the United States, the range of investments available may slightly differ, or there may be additional limitations, depending on the state in which you are located. At the time of my test, eToro wasn’t offering crypto trading to residents in Nevada, New York, Puerto Rico, Hawaii, and the U.S. Virgin Islands. Also important to know: eToro operates differently in other countries and may charge $1 or $2 commissions on stocks depending on your location. If you are outside the U.S. or interested in forex trading, you might like to read our reviews of eToro on our sister sites, UK.StockBrokers.com and ForexBrokers.com.

eToro USA LCC does not offer CFDs; only real crypto assets are available.

Overall summary

Range of investments

eToro offers cryptocurrencies, stocks, options, and ETFs, including fractional shares. However, eToro isn’t a traditional full-service brokerage. It’s a social investing platform first, with trading integrated into the experience. And in my view, that’s not a bad thing. If you’re looking for a platform with bonds, futures, mutual funds, or forex, you won’t find them here. But if you want an investing experience that feels like a community, where market discussion, real-time insights, and trading come together seamlessly, look no further.

Over the past year, eToro has expanded its offering to include multi-leg options trading, but its strongest advantage in terms of investment options lies in the crypto space. When we reviewed eToro last year, it offered 24 cryptocurrencies in the U.S. This year that number has jumped to 86, making it one of the most comprehensive crypto selections among the mainstream brokerages we cover. And while eToro doesn’t offer advanced order types for stocks and ETFs, our research finds its crypto trading platform far more flexible, with limit orders, stop-loss, and take-profit options available.

Commissions and fees

I find that eToro’s pricing structure favors options traders and crypto investors from a surface level. But, when I looked deeper, I noticed that the fees could add up depending on how you use the platform and your trading style.

Fees for options trading

I expect every brokerage firm to charge a $0 commission on stock and ETF trades. It is the industry standard and eToro follows suit. On the surface, options trading commissions seem competitive with a per-contract charge of only $0.50 and no exercise or assignment fees. However, eToro does not participate in a dime buyback program, meaning you can’t close short options priced at $0.10 or less for free. If you’re only a single-legged speculative options trader, purchasing calls and puts, then this commission structure won’t hinder you, but strategies requiring you to close short options may incur additional costs.

Fees for crypto trading

It's worth noting that eToro charges 1% on both the entry and exit of crypto trades — a considerable fee. Unlike flat-rate commissions, this fee is built into the bid-ask spread, the price you see when placing a trade. This means that on a $10,000 trade, you’re effectively paying $200 in fees round-trip. If you trade crypto frequently, these costs add up fast compared to platforms that offer lower spreads or maker-taker fee structures.

eToro Club Level

eToro also has a minimum investment requirement of $100, unless you’re testing the waters with a virtual portfolio. Like many brokerage firms that aren’t full-service, some features are hidden behind eToro’s Club Level access, which includes five tiers ranging from $5,000 to $250,000 in account balance. I found that reaching higher tiers unlocks better market insights and additional platform features, but for most investors, these benefits might not justify the deposit requirements as they tend to be complimentary at most other full-service brokerage firms.

Other fees to know about

• Withdrawals: No withdrawal fee, but a $30 minimum applies.
• Retirement Accounts: A $30 annual fee applies to IRAs.
• Tax Forms: Form 5498 costs $5.00. This form reports IRA contributions and rollovers to the IRS.
• Wire Transfers: $8 for incoming wires, $25 for outgoing.
• Corporate Actions & Reorganizations: A $50 minimum reorg fee applies to events like spin-offs or voluntary tender offers.
• Physical Stock Certificate Processing: While I haven’t seen a physical stock certificate in quite some time, fees range from $2.00 to $900.00 for physical stock certificate handling.

Mobile trading apps

From the moment I opened the eToro mobile app, it felt more like a social media platform with integrated investing capabilities rather than a traditional brokerage app, and I mean that in the best way possible. The home screen immediately pulled me into a community-driven feed, where traders were reacting to market moves, earnings reports, and economic news in real time. Instead of just looking at stock prices in isolation, I was welcomed into an ongoing discussion of what was happening and why, a unique experience you won’t find on most trading apps.

Mobile tools and features

The watchlist offered a quick way to track securities I was monitoring, though I found the customization options to be limited. When I wanted a deeper market view, I noticed some missing tools. For example, the "economic calendar" was actually just an earnings calendar. I couldn’t find PPI (Producer Price Index) data, unemployment reports, or Treasury auction schedules, which I knew were happening that week. However, the community discussions helped fill in the gaps, often surfacing the key data points I was looking for. When I drilled into an index like the S&P 500, I did appreciate the news sentiment visualization, which uses a smiley face scale to gauge market sentiment, a very social media-esque feature.

Pulling up a stock quote on eToro surfaced more information than I expected. Alongside the standard price chart and news feed, I found a built-in discussion thread for each stock, analyst ratings and price targets, hedge fund activity insights, and a call-to-action for price alerts. One of my favorite features was the "Why is it Moving?" feature powered by Delta. When I pulled up NVIDIA (NVDA), which was surging that day, the app greeted me with real-time chip export news and community discussions that explained the stock’s movement. It was spot-on and made the market feel more interactive.

Options trading experience

Unfortunately, the options trading experience was disappointing. Instead of displaying contracts individually, the app grouped them by multipliers, making it difficult to trade multiple contracts or create ratio spreads. The Greeks were also displayed in a way that felt unhelpful, making it harder to assess risk and reward. Simply put, I wouldn’t use eToro’s options chain for serious trading as it lacks the flexibility and depth found on platforms like tastytrade or Interactive Brokers.

Other trading platforms and tools

eToro excels at fostering a community-driven investing experience. Everything feels designed to connect investors, whether through discussions, shared insights, or even mirroring other traders’ moves. That became especially clear when I explored CopyTrader and Smart Portfolios.

CopyTrader

CopyTrader lets you follow and automatically replicate other investors’ trades. At first, it felt like a competitive leaderboard, but the depth of data quickly stood out. Performance metrics didn’t just highlight returns, they also factored in risk. Before selecting someone to copy, I could see their performance history, risk score, and portfolio composition, along with how they stacked up against the S&P 500 or other benchmarks.

I also liked tracking how many people were copying them and how that changed over time, which is a unique way to gauge popularity. The transparency helped me understand each trader’s style, holdings, and risk exposure. This tool is primarily geared toward crypto, though there’s also an options trade feed with a copy button. However, the options feed lacked the same level of detail found in its crypto counterpart. The minimum investment to start copying trades is $200.

Smart Portfolios

Smart Portfolios take a different approach, functioning like traditional asset allocation models but for crypto. They’re consistently rebalanced and structured with exposure, balance, and risk in mind, offering a more systematic way to invest in digital assets. Some portfolios are even managed by partner firms and fintech startups, adding a layer of professional management. The $500 minimum investment makes sense given its long-term structure.

Research

eToro’s research experience is unlike any other brokerage firm I’ve reviewed. If you value traditional stock screeners, deep fund research, and institutional-grade analysis, you’ll find eToro lacking. But if you prefer real-time discussions, community-driven insights, and a more social approach to market research, eToro offers something no full-service brokerage does. It’s not necessarily better or worse, it’s just different.

Pulling up a stock quote

That said, there is still useful research available. When pulling up a stock quote, I could see its performance history, ESG ratings, analyst price targets, news, and even a “what people also bought” section. The analysis tab was packed with various price targets, institutional activity, and sentiment trends, along with earnings and financial data. One feature I particularly liked was the sentiment indicator in the news feed, a smiley face that visually represented whether the news was positive or negative for a stock.

And while I could dig into some financial data, what set eToro apart was the ability to discuss everything with the community in real time. Instead of just consuming information, I could engage in conversations about earnings reactions, market trends, and stock performance, making the research experience feel more interactive than analytical.

Fund research

Fund research, however, felt incomplete. I couldn’t see top holdings, asset allocation, or dividend information, which are all crucial details when evaluating a fund. Instead, eToro displayed analysts’ highest upside and downside projections for individual stocks within the fund. While that insight was interesting, without knowing how much weight each stock held in the fund, the information felt incomplete.

Lack of a real screener

Finding new investment ideas was also limited. The only filtering options were by exchange or sector, there wasn’t a true stock screener. Instead, I could browse lists of top investments, most-searched stocks, and analyst picks, but the overall experience felt basic compared to the powerful screening tools available at other brokers.

Macro-level research

When it came to macro-level research, I did appreciate eToro’s market commentary newsletter, written by an in-house analyst. The explanations were clear and insightful, but the variety was lacking. I didn’t see multiple perspectives or diverse reports from different sources which are valuable resources provided by the best brokers in the research category.

Education

Social media has pushed the brokerage industry to rethink financial education, making it more engaging, accessible, and discussion-based. A new generation of investors prefers to consume information in short form, discuss it in real time, and ask follow-up questions in the comments. Trying to implement that within the highly regulated world of finance is certainly a compliance challenge. Going into eToro's Academy, I was hoping for the social media-driven experience to continue with a seamless blend of short-form education and community discussion. While I didn’t fully find that, what I did find was still impressive.

Videos

eToro’s educational videos were curated in the highly engaging format I was hoping for. I watched one on the Federal Reserve, and it delivered an accurate, engaging explanation that wasn’t dry or overly corporate. Instead, it leaned into edutainment, making complex financial concepts feel accessible and easy to digest.

Quizzes, articles, and podcasts

Beyond videos, eToro offers courses with integrated quizzes, a variety of well-written articles, and engaging financial explainers through the eToro Academy. Education is also woven into the News and Analysis page, which combines market updates with explainers on major trends. One highlight for me was the "Digest and Invest" channel as I found the podcasts on it well-produced, insightful, and worth a listen.

Fixed-income education

The content was solid, but not always holistic. Some topics were missing the key context needed to fully grasp the bigger picture. One area that caught my attention was fixed-income education. eToro provides a comprehensive guide to fixed-income investing, covering bonds, yields, and how interest rates influence the market. But here’s what didn’t make sense: eToro doesn’t even offer fixed-income products. It felt odd to see detailed resources on an asset class that isn’t available to trade on the platform. That said, the content on the Fed and its impact on fixed income was well done.

Banking services

In the U.S., banking is limited to its crypto wallet, eToro Money, which lets you transfer, send, and receive cryptocurrencies and even convert one digital asset to another. For EU residents, there’s a similar offering through eToro Money, while basic cash management features are available in a few other countries like the U.K. However, if you’re based in the U.S., don’t expect traditional cash management as your banking experience will be crypto-centric. This setup reinforces eToro’s focus on digital assets and community trading rather than offering full-scale banking services.

Final thoughts

eToro is unlike any other brokerage firm I’ve tested. It’s not trying to be a full-service brokerage — it’s a social investing platform first, with trading tools built into the experience. If you’re looking for a community-driven approach to investing, where you can discuss trades, follow other investors, and gain insights in real time, eToro delivers. The platform thrives on collaboration, offering a unique mix of discussion threads, sentiment-driven research, and copy trading that traditional brokers simply don’t have.

That said, eToro isn’t for everyone. If you need advanced order types, in-depth stock screeners, or a full suite of investment products, you’ll find limitations. But if you’re drawn to an investing experience that feels interactive, dynamic, and built for a new generation of investors, eToro has carved out a space that no other broker has quite replicated.

Here are my top three takeaways for eToro in 2025:

1. eToro is a social investing platform first, and a brokerage second. The platform is built around community engagement, with discussions, sentiment indicators, and copy trading leading the experience.
2. Crypto is where eToro truly shines. With 86 cryptocurrencies available and one of the best social-driven trading experiences for digital assets, eToro stands out for crypto investors.
3. Traditional investors may find eToro limiting. There are no mutual funds, bonds, or futures, and while research and education are engaging, they lack the depth of full-service brokerage firms.

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Is eToro good for investing?

eToro is a great choice for crypto investors and those who want an interactive, community-driven investing experience. With 86 cryptocurrencies, social trading features, and built-in discussions, it’s designed for traders who want to learn, share, and engage while investing.

For stocks and ETFs, eToro offers $0 commissions, making it a solid option for those who prefer a simple, streamlined platform. However, advanced traders looking for deep research, complex order types, or a wide range of investments may find it limiting compared to full-service brokerage firms.

Can eToro be trusted?

Yes, eToro can be trusted. eToro USA is a member of FINRA (Financial Industry Regulatory Authority), and accounts are insured up to $500,000 by the Securities Investor Protection Corporation (SIPC), which protects investors in the event of broker insolvency. While SIPC doesn’t cover losses from trading, it does provide a layer of security for customer assets.

Is eToro good for beginners?

While eToro didn’t make our shortlist of best platforms for beginners, its simple, easy-to-navigate platform makes it approachable for new investors. The web and mobile experiences are nearly identical, which helps with accessibility. Features like CopyTrader and Smart Portfolios allow beginners to gain diversified crypto exposure without actively managing trades.

That said, being beginner-friendly doesn’t mean it’s easy to make money. eToro’s focus on social investing and crypto means new investors should take the time to learn the risks before jumping in and perhaps take advantage of its paper trading account first before risking real money. Compared to some competitors, eToro is easier to use, but not necessarily easier to succeed on.

Can U.S. citizens use eToro?

Yes, U.S. citizens can use eToro through its American affiliate, eToro USA, which is a FINRA member and provides SIPC insurance of up to $500,000 per account in case of broker insolvency.

However, eToro’s offerings for U.S. traders differ from those of its international platform. At the time of this review, stock trading is not available in every U.S. state, so it’s worth checking whether eToro is licensed to trade stocks where you live. Crypto trading, however, is widely available across the U.S.

Can you buy actual Bitcoin on eToro?

Yes, you can buy Bitcoin on eToro. Once you open and fund an account, you’ll have access to a wide variety of cryptocurrencies, including Bitcoin, Ethereum, and many others. Keep in mind that you can buy and sell extremely small fractional amounts of cryptocurrency, so you don’t need to buy a full Bitcoin to gain exposure.

What is the downside to eToro?

There are a few drawbacks to consider with eToro. One key limitation is that you can’t short stocks, you’re limited to buying and selling only. While this won’t matter for long-term investors, active traders may find it restrictive.

Customer support is another mixed bag. During my testing, email response times were fast, but I’ve seen reports that direct support can be difficult to reach. Last, eToro’s research tools are limited compared to other best-in-class brokers, making it less ideal for investors who rely on deep fundamental analysis and stock screening tools.

Can eToro make you rich?

Trading on eToro can be profitable, but like any investing platform, there's also significant risk. The markets are unpredictable, and no brokerage, eToro included, can guarantee success. While some traders do well, many others lose money. The key is managing risk, staying informed, and never investing more than you’re willing to lose. For a deep-dive on how to stay focused on investing for long-term goals rather than get rich schemes, check out our founder Blain Reinkensmeyer's thoughts on 10 reasons to reconsider day trading.

About eToro

An early pioneer in social copy trading, eToro was founded in Israel in 2006 as a financial trading technology developer. Since launching its first product, it has grown to service over 35 million users with an innovative platform that continually evolves to be one of the largest social networks globally, with clients in over 100 countries. eToro expanded to the U.S. in 2018 and has since grown both its user base and its offerings. In August 2022, eToro signed an agreement to purchase Gatsby, an options trading platform. The service was rebranded as eToro Options.

eToro 2025 Results

For the StockBrokers.com 2025 Annual Awards, announced on Jan. 28, 2025, all U.S. equity brokers we reviewed were assessed on over 200 different variables across seven areas: Range of Investments, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall.

StockBrokers.com also presented “Best in Class” awards to brokers in the following additional categories: Active Traders, Bank Brokerage, Beginners, Casual Investors, Customer Service, Futures Trading, High Net Worth Investors, Investor Community, Options Trading, Passive Investors, Retirement Accounts. A “Best in Class” designation means finishing in the top five brokers for that category.

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Our research team conducts thorough testing on a wide range of features, products, services, and tools for U.S. investors, collecting and validating thousands of data points in the process; this makes StockBrokers.com home to the largest independent database on the web covering the online broker industry. We test all available trading platforms for each broker and evaluate them based on a host of data-driven variables.

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