eToro forex broker review and detailed information
How does eToro compare with its competitors? Check out also our comprehensive and fully interactive comparison of forex brokers. If you do not know what the terms in the following tables mean, read the tutorial about forex brokers first.
Basic information
| Website | Visit eToro |
| Type | MM |
| Regulated by | NFA, CFTC |
| Country | Cyprus |
| Established in | 2007 |
| Live chat | yes |
Trading terms
| Commission (pips) | 0.00 |
| Fixed spread | yes |
| Variable spread | no |
| Spread on majors (pips) | 2.0-3.0 |
| Leverage | 400:1 |
| Minimum deposit (USD) | 50 |
| Minimum trade size (USD) | 1000 |
Available features
| Number of currency pairs | 16 |
| Precious metals | yes |
| Oil | yes |
| Hedging | yes |
| Trailing stop | no |
| Free automated trading | no |
| MetaTrader 4 | no |
| Mobile trading | no |
Forex account
| Demo account | yes |
| Interest on unused balance | no |
| Islamic swap-free accounts | yes |
| Accepts U.S. citizens | no |
| Payment by Bank wire | yes |
| Payment by Credit card | yes |
| Payment by PayPal | yes |
| Payment by check | no |
| Other payment options | Moneybookers, MoneyGram, Neteller, WebMoney, Western Union |
| Account in USD | yes |
| Account in Euro | no |
| Account in GBP | no |
| Account in CHF | no |
| Account in JPY | no |
| Account in AUD | no |
| Account in CAD | no |
| Account in NZD | no |
| Account in CZK | no |
| Account in DKK | no |
| Account in HKD | no |
| Account in ILS | no |
| Account in NOK | no |
| Account in PLN | no |
| Account in RMB | no |
| Account in RUR | no |
| Account in SEK | no |
| Account in SGD | no |
| Account in ZAR | no |
Languages
| Arabic | yes |
| Chinese | yes |
| Czech | no |
| Dutch | no |
| English | yes |
| French | yes |
| German | yes |
| Greek | no |
| Hebrew | no |
| Indonesian | no |
| Italian | yes |
| Japanese | no |
| Korean | no |
| Malaysian | no |
| Polish | no |
| Portuguese | no |
| Russian | yes |
| Spanish | yes |
| Turkish | no |
eToro customer reviews
Are you a satisfied customer? Or you want to share a scary story? Tell the world about your real-life experience with this forex broker! While writing your review, please also specify for how long time you have been trading with them and what trading style you use (for example news trading, grid trading, scalping, etc.). Readers with a similar trading strategy will pay more attention to your comment. Only genuine broker reviews will be published; posts promoting a website and generic comments will be removed.
Mathew
2009-06-29
I trade with eToro already for 7 months. It is a great platform with the quick support and accurate and simple trade execution. Using the webtrader I can access my trading account anytime from any computer.
Fazil
2009-09-10
You lied, etoro is not regulated by the NFA or CFTC, could these guys be paying you or what, give us fair reviews
admin
2009-09-10
To Fazil:
Before you accuse someone of lying, why don't you check veracity of your own claim first? To best of my knowledge, eToro is registered with NFA. Please see http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0382918&rn=N. Or do you claim that NFA's official website is lying to you too?
Since services provided by forex brokers are changing quite frequently, I appreciate feedback from readers and update my data immediately after verification. If you want me to correct something, just send me a message. But please do not waste time of the readers by posting inaccurate information, especially if you do it in a highly uncivil way.
Fazil
2009-09-14
Thank you admin, I verified.. I am sorry
etoro is NOT regualted!
2009-12-25
pay close attention! only the eToroUSA is registered with the NFA. there main activity - offered at eToro.com - is totaly not regulated and they try for everyone to Think it is the same. it is totaly not.
2010-03-22
If that is true, it sounds similar to MBs bs of awards and regulations which are mostly nullified by the wording in your initial contract agreement to enter into forex with them. If i claim to be ecn yet make no dealings with an entity unless they sign contracts agreeing to MM and DD activities that makes me a few things , but absolutely not an ECN. dont take my word for it, read it yourself.
Muhammad: eToro is fully regulated - checked
2010-03-23
hi guys, I see there is some misunderstanding regarding the eToro regulation. I am an old trader of eToro and checked their regulation very carefully.
NFA is the regulating body of USA only, that's why only eToroUSA.com is regulated there. As for the eToro.com, so they got the CySec lisence few months ago, it is a regulating body in Europe.
And one more note, admin, eToro is not a Market Maker as far as I am aware.
a trader from India
2010-03-25
Thank you for the info, Muhammad. What doesn't mean for me "not a Market Maker"?
Muhammad
2010-04-26
"not a Market Maker" means that the broker is using the rates of the banks and uses the interbank system. It is more secure for the traders, because this way they don't trade against the broker - they trade against the banks. And the role of the broker is to transfer your trading positions to the national banks.
I like eToro for that, it makes me feel secure that if I make money it is not a problem to withdraw them.
Daniel B
2010-05-05
thank you Muhammad. I sutisfied with eToro. This broker has a good reputation and trading with it is fun!
Add your eToro review: