Premium Crypto TL;DRs

ETORO CRYPTO REVIEW

Get Started with eToro

Table of Contents

"I've been trading with eToro for many years, and I was very happy when the option to trade crypto came out"
Leonard K. Anderson
PRO crypto trader

OVERVIEW

10
CRYPTO PAIRS
1 +
COUNTRIES SERVED
1
LANGUAGES AVAILABLE
1
INNOVATIVE PRODUCTS
"I've been trading with eToro for many years, and I was very happy when the option to trade crypto came out"
Leonard K. Anderson
Pro crypto trader
01

THE BIG PICTURE

eToro is a pioneering force in the TradFi (traditional finance) ecosystem, but we’ll focus on its crypto trading services for this review. It currently has 41 cryptocurrencies that you can choose to trade against other cryptos or numerous fiat currencies, including USD, CAD, AUD, NZD, GBP, EUR, CHF, and JPY.

However, US customers can only access crypto trading on eToro and not the other trading features compared to international customers. The platform doubles up as a copy trading app, allowing you to replicate successful trade strategies that have already been tested. Overall, eToro is well-reputed and highly regulated but offers a limited crypto trading experience relative to other industry players.

EVERYTHING YOU NEED
02

FEES

eToro stands out from others due to its feeless management and commission-free investment opportunities. When you buy digital assets on eToro, you’ll only pay for spreads, ranging between 0.75% to 4.50%. eToro also assesses fees for crypto transfers from the investment platform to its crypto wallet, numbering anywhere between $1 and $50 in equivalent tokens.

eToro doesn’t charge any fees for fiat withdrawals. However, your bank may charge you a fee. All fiat withdrawals and deposits are conducted in USD. Hence, any other currency than USD will need to be first converted, which will incur a conversion fee. Check the full list of conversion fees here.

That said, eToro has one of the lowest fees, as low as $5 for withdrawals. The platform also charges an inactivity fee of $10 per month.

You can also transfer crypto between your external wallets and eToro Money crypto wallet. There is no charge for this, except the gas fee charged by the blockchain network. However, keep in mind that the eToro Money crypto wallet supports a limited number of tokens like BTC, BCH, ETH, LTC, and XLM (other coins to follow soon). eToro also charges a 0.1% conversion fee for crypto-to-crypto conversions. Additionally, the platform has predefined limits for crypto transactions and conversions. Check the full list here.

Other than this, you’ll also be charged a fee when you transfer your funds from the eToro Investment app to the eToro Money crypto wallet. You’ll pay 0.5% for every transaction, but never higher than $50 or lower than $1.

VERY LOW FEES
03

PRODUCTS

All crypto investments on eToro are usually in the form of CFDs (contract for differences). The platform currently supports 41 tokens, including BTC, ETH, SOL, XRP, XLM, EOS, and several others.

eToro has also launched its dedicated crypto trading platform, eToroX, a regulated exchange with many tradable coins. Compared to other platforms, eToroX is pocket-friendly as it charges only a one-time spread on your crypto purchases. The platform is quickly adding new trading pairs to cater to its international audience in Canada, Europe, Australia, New Zealand, and Japan.

LARGE VARIETY
04

AVAILABILITY

At present, eToro Money crypto wallet is available in almost all countries except Afghanistan, Albania, Belarus, and others. Check the complete list of eToro’s supported countries here.

WIDE COVERAGE
05

PROS

  • Well-reputed platform with a global presence
  • Simple trading interface (easy to learn)
  • Allows Copy Trading and Social Trading
  • Offers a dummy account with $100,000 to practice trade
  • Straightforward fee structure
  • Highly regulated and licensed
MEANINGFUL PROS
06

CONS

  • Limited number of tradeable tokens
  • Not available in all US states
  • Doesn’t support fiat-crypto trading pairs (eToroX)
  • High spread fee on some cryptos
NOT MANY DOWNSIDES
07

PAYMENT METHODS

eToro accepts both fiat and crypto deposits. You can use debit and credit cards, bank transfers, POLi (for AUD), PayPal, Skrill, Neteller, and Rapid Transfer to deposit and withdraw funds to the platform. Moreover, there is support for crypto transfers. However, note that you’ll have to bear the conversion fee for every deposit and withdrawal done in any other currency other than USD.

US customers can deposit funds to their accounts using debit cards, online banking, and wire transfer. More details on the minimum and maximum limits here. You can also transfer cryptocurrencies to your eToro Money crypto wallet by funding your eToro Investment account via wire transfer. However, if you’re a new user, there will be restrictions on the time and amount of transfers.

Type

Deposit Fee

Withdrawal Fee

USD

Free

$5

Non-USD

Free (FX Rates applicable)

$5 + FX Rates

Crypto

Free (Blockchain Fee applicable)

Free (Blockchain Fee applicable)

Fiat & Crypto
08

PRIVACY & SECURITY

On eToro, all transactions are processed using SSL technology to ensure that your personal information is safe. To handle external payment providers, the platform has partnered with a consortium of industry leaders, so you can rest assured about your assets’ data privacy and security. 

The majority of cryptocurrencies stored on the platform are kept in cold storage, capably securing them from online threats. At the same time, all fiat deposits (USD only) are placed in FDIC-insured custodial accounts and have insurance for up to $250,000.

Good Security Features
09

WHO'S etoro GOOD FOR?

  • Beginners (lots of educational resources)
  • Traders who want to trade only the most popular tokens
SUITABLE FOR MOST

Get Started with eToro

THE FINE DETAILS

General Information

Founded In: 2007
(Cryptocurrency trading was introduced in 2018)

Official Website: https://www.etoro.com/
Support: https://www.etoro.com/customer-service/
Help Center: https://www.etoro.com/customer-service/help/
Start Now

Registration

You won’t find any difficulties registering a new account on eToro. Visit the official website, enter the required details, accept the T&C, and click on sign-up. Next, submit the documents for KYC verification and fill in the questionnaire. Once verified, fund your account, and start trading.
Register

Support

For urgent cases, you can connect via Live Chat. The eToro customer support team works 24/7, so you don’t have to wait for extended periods to get a resolution. You can also contact support via email (eToro says that it may take up to 7 days before your email is answered). Beware, there’s no phone support!

Besides this, eToro offers a massive collection of educational resources, tutorials, guides, and advanced charting tools to help you stay abreast of the changing crypto market.
Check it out

Regulation

eToro has a ton of licenses and registrations across several jurisdictions, including approvals from FCA (UK), CySEC (Cyprus), DNB (Netherlands), FinCEN and FINRA (US), and ASIC (Australia), among others.

The platform is also registered as a Broker-Dealer platform by the Seychelles Financial Securities Authority (license no.SD076), allowing it to offer securities, CFD products, and all other Copy Trading functions to its customers.

Features

As we said, eToro supports an extremely limited crypto trading option, mostly limited to CFDs. However, one of the platform’s standout features is Copy Trading, which allows you to copy and implement trade strategies of high-performance traders with just a click. And to make things even better, eToro doesn’t charge any management fees for this. Other add-on features include real-time charts, price updates, and a free sentiment calculator.

Another notable feature of eToro is its straightforward pricing, which allows the platform to implement a single payment spread pricing for all of your trades. That said, eToro still has a long way to go in terms of crypto-specific products. The platform currently has only a handful of features, which aren’t enough compared to other platforms we have reviewed.
Read More

Ease of Use

You’ll love the simple and beginner-friendly interface offered by eToro. The platform works seamlessly across computers, tablets, and mobile phones. The dashboard looks like a social media platform, allowing you to not only trade cryptocurrencies but communicate with other traders in real-time.

The platform has kept the buy/sell feature minimal with immediate price updates as per the market. Other features like the watchlist management and built-in compatibility with the eToro crypto wallet make the overall user experience even better.

FREQUENTLY ASKED QUESTIONS

Common questions we get asked about eToro

eToro is a well-known global TradFi platform that is based on social trading. eToro also offers cryptocurrency trading, including for most US customers.

eToro currently has 41 cryptocurrencies that you can trade. The platform accepts a wide range of fiat deposits and offers feeless management and commission-free investment opportunities. It also has the lowest withdrawal fees.

Almost every crypto asset traded on the eToro platform is kept in cold storage, eliminating the chances of theft. At the same time, all USD deposits are insured for up to $250,000 according to FDIC-insured custodial account policies.

To sell crypto, go to your Portfolio and choose the relevant token that you wish to sell. Follow the on-screen prompts to complete your sale.

Transfer cryptos by opening the “Crypto” tab on your eToro Money app, selecting the token type, and clicking Send. On the new page, enter the recipient address, then verify, and your transfer will be processed accordingly.

 

The platform currently supports 41 tokens, including BTC, ETH, SOL, XRP, XLM, EOS, and several others.

Use the eToro Money app to withdraw cryptocurrencies from your eToro wallet to any other external wallet.

Copy Trading allows you to copy and implement trade strategies of high-performance traders with just a click.

Yes, eToro is a fully licensed and regulated platform. It also uses hot and cold storage to secure crypto assets, and USD deposits are insured for added safety.

eToro charges for spreads, crypto transfers, crypto to crypto conversion, fiat withdrawals, and inter-wallet transfer.

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