Today we’re talking about etoro. I remember just a couple of years ago when I heard about etoro. I tried to make an account but couldn’t because I was a US citizen.

Well, the great news is that they have opened up their accounts to be available in the US.

They were started originally abroad in Israel, and that’s still where they’re based, but it’s awesome that etoro is now available to you as investors.

Etoro is a unique brokerage because it started as an equal mix between a crypto exchange and a traditional brokerage.

And there’s also the social investing aspect of it where you can follow and copy people’s trades, and all these factors combined have led to eToro’s massive growth. 

They have over 25 million users, and since they recently opened up to the u.s market, I think they’re going to get a lot more.

So let’s dive right into it and talk about some of the features of the etoro brokerage platform.

Brokerage

First, the important point is that stock trading on etoro is commission free.

So you can find and trade your favorite stocks on etoro commission free.

But the downside is that there are still beta-testing ETFs.

Our ETFs are available in 44 states, but the other six, well, I guess We’ll have to give them a minute.

I like investing in ETFs because they provide a low-cost way to diversify your portfolio.

So it’s a little bit of a bummer that etoro is still beta testing those, and if you live in one of those six states, I’m sorry, but hopefully, etoro will make ETFs available to everybody in us very soon.

But like I said, etoro didn’t start in stocks. They started in crypto.

Etoro was one of the early adopters of Cryptocurrency in the Traditional finance world, and it functions as a full crypto exchange.

You can trade over 40 cryptocurrencies on eToro, including bitcoin, ethereum, and Dogecoin.

User Interface

the cryptocurrency trading experience on etoro is quick and easy with a solid user interface.

They also have their crypto wallet, so you can transfer cryptocurrencies from other crypto exchanges into etoro and out of it. They let you self Custer your coins Instead of keeping them for you, which is awesome.

 

Social Investing 

Next, as I talked about, one feature that makes etoro so unique is its social investing piece.

Combining social media and investing, there’s a super easy feature when you follow people on the app that allows you to copy their trades if you want to replicate their strategy or portfolio.

But I always suggest you do your due diligence and never blindly copy anybody’s trades.

But this is a super cool feature, and if you follow people you trust and do your due diligence, it’s a super awesome way to make investing more social more fun. It’s a great feature that etoro made famous.

 

Popular Investor Program

The other super cool thing is that top investors can be part of eToro’s popular investor program and get paid when people copy their trades. So check out eToro’s popular investing platform.

 

Virtual Portfolio

Another super cool thing that etoro has that makes it pretty unique is they have an entire virtual portfolio.

So if you’re trying a new type of investing, looking into new stocks want to practice different strategies, you can use their virtual portfolio feature to do just that.

Virtual portfolio trading allows you to trade fake money on the real stock market to practice Investing without the risk of losing money.

The virtual portfolio is open to any securities in the app in your real portfolio, just like investing for real, except for no downside.

Fees

Okay, those are some of the awesome features of etoro; now, let’s talk about eToro’s fees.

Like I already said, for stocks etoro is a commission-free platform.

So you won’t have to pay anything when you trade equities; however, they charge a one Percent fee anytime you buy or sell Cryptocurrency.

Many crypto exchanges charge a fee or make money off the spread between the price they’re quoting you and the price they can buy for. You can certainly use cheaper platforms to invest in Cryptocurrency.

But if you want your stocks and Cryptocurrency all in one place, then 1% is certainly not too high of a fee to pay for that.

Also, if you’re using etoro’s wallet for your Cryptocurrency, you’ll pay a 0.1% conversion fee anytime you swap one coin for another.

There’s also a 0.5% transfer fee anytime you transfer your money from your etoro brokerage account to your etoro cryptocurrency wallet.

Although none of those fees are super big on their own if you’re constantly buying and selling cryptocurrencies, swapping them out for other coins, and transferring money between your brokerage account and your crypto wallet.

Those can add up, so be mindful of those fees and compare them to other platforms so that you can know if etoro is right for you.

One more important thing to note anytime you’re withdrawing money from your etoro account, it’s a minimum of $30.

So if you don’t have a ton of money to start investing, please make sure anytime you withdraw from etoro, there is a $30 minimum think that’s important to note.

Speaking of Doing your due diligence, another important question is etoro safe.

Well, we think that etoro’s reputation, their years in business, and their millions of users definitely speak for themselves. Still, alongside that, they’re also registered with the securities and exchange commission free, and they’re a member of the sipc, the securities investor protection corporation.

So they’ve done everything legally to get Them set up as a legitimate, safe brokerage, and the government heavily regulates them to ensure that they’re complying with the best interest of their investors.

This also means that your stocks and deposited cash are protected if etoro goes out of business, and you cannot liquidate the assets in your account.

Remember that these regulations do not ensure cryptocurrencies, so that is a risk You’ll take.

 

Last Word

And that’s it, that’s the review if you’re looking for a modern investing platform where you can invest socially and trade both stocks and cryptocurrencies, check out etoro.