eToro: Trade. Invest. Connect‪.‬ 4+

Great for beginners

EToro is simple to use and very easy to wrap your head around for beginners but when trading CFD’s there could be a little more with warning about how risky it can be especially with leverage. Spreads on crypto are quite high and also the price is set by EToro, loosely based off of other exchanges. If you want to buy crypto there’s better platforms but if you want simplicity and all your portfolio on one platform with stocks and other investment avenues, EToro works well. Probably the nicest UI for mobile and Web with slight UI frustrations but hopefully with later updates and improvements those inconveniences are fixed.

Developer Response ,

Hi LucaYup,

We would like to apologize for such a late response & thank you for taking the time to leave us this thorough review.

Leverage carries with it a higher degree of risk because leverage increases the magnitude of both gains and losses. We are very transparent about the risks of applying leverage on our Help Centre ➡ https://www.etoro.com/customer-service/help/57347145/what-is-leverage/

That is also why leverage is explained during the creation of the eToro user’s account. We employ responsible trading practices, to which both our community and we are committed & invite all investors to do their research before investing.

As to spreads, they are variable, meaning that they can be affected by market conditions. Some instruments are typically more volatile and so are more likely to see wider spread variations than other, more stable, instruments. This means that the spread you’ll receive at the opening and closing of a position cannot be fully predicted. eToro does not set market spreads.

Overall, for the product and features that we offer, we have some of the best fees for a regulated and secure platform.

eToro spent tremendous resources during 2021 to bolster its systems and be able to support the tremendous growth spurt eToro went through and over. We have some of the highest stability figures in the industry and are continuing in our journey to excellence.

Wishing you all the best,
Maria

Good app but expensive to start

Easy way to invest. Although some things I didn’t like was I deposited about $500 AUD and it ended up around $484 AUD because of a conversion to USD fee which they didn’t mention when I did the deposit. After I noticed less money after the transfer completed, I calculated this cost to deposit being around 3% of the $500 AUD. That’s really high just to deposit money into the platform before buying anything. I appreciate the response from etoro but it didn’t clarify my concern as the information on the website is not reflecting what happened to me. They advise you would be charged around $50 for a $10,000 deposit although then how was I charged about $15 on a $500 deposit. Also the spreads seem a bit high and you cannot have tight or close stop losses which seemed a bit weird and risky for new traders. Fun to copy professional traders and make an earning of that but I will need more than 3% just to break even and then who knows what the withdrawal fee will be. I also tried to reach out to etoro but they have no contact number and no live chat and you can only submit a form and wait around 7 days for a response. Is that customer service? I wish I could trust this app more so I could deposit more but on the test $500 deposit, it seems not feasible so far

Developer Response ,

Hi Steve,

We would like to apologize for the late response & clarify some points:

• The minimum deposit differs depending on the country, as you can see on the following link https://www.etoro.com/customer-service/help/523323/what-is-the-minimum-deposit-amount-on-etoro/.

• We have always been transparent about conversion fees when deposits are made in a currency other than USD. These conversion rates are offered ahead during the deposit process & also listed on our fees page. We encourage users to visit the Fees Page periodically to stay updated on current fees➡️ https://www.etoro.com/trading/fees/

• Spreads are variable, meaning that they can be affected by market conditions. eToro does not set market spreads. Overall, for the product and features that we offer, we have some of the best fees for a regulated and secure platform.

• The Stop Loss implementation on eToro is an industry-standard. Beyond that, it is required by regulations for the sole purpose of protecting users' funds. The maximum Stop Loss permitted (by regulation) when one opens a position is 50% of the position amount (with the exception of non-leveraged BUY positions).

It is possible to extend your Stop Loss beyond this limit once the trade is open. Doing so debits funds from your Available balance as part of our Maintenance Margin feature, which acts as an additional safety net for your trade.

Check out the following link for more ➡️ https://www.etoro.com/customer-service/help/84122742/stop-loss-limitations-and-maintenance-margin/

• As to withdrawal fee, regardless of the amount withdrawn, we only charge a flat withdrawal fee of $5.

• eToro has seen unprecedented growth and huge demand for our services. With our expanding client base, there are delays in responses, but answers will always be provided, as you can see for yourself. Also, our social teams on Twitter and Facebook are always available for assistance.

We apologize for any inconvenience caused to you as a matter of the delay.

Wishing you all the best,
Maria

etoro app is getting worse (update)

From starting the chart settings (MA, RSi, MACD, etc) can be saved for my next checking; but now all the chart setting will disappear when you switch to the other view of stock. IT IS VERY ANNOYING! It’s wasting time to add all the line/indicators again and again. I asked my customer manager and he said ProCharts can keep the same settings and apply for all stocks but only available in desktop version. And recently, I just realise that searching stocks in etoro is also an BIG ISSUE. When I search a stock and click it, the app won’t let you check the stock; instead it will go back to the original searching screen. I can’t check the searched stock or add it to my favourite. WHAT’S GOING ON? Please fix the problems at your earliest convenience. I have tried a number of similar trading apps and etoro is the worst so far. Can etoro do any better?
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The customer service helped to allocate a suitable expert and she did help me to resolve my problems. And all happened within 24 hours. SO SURPRISED!
Very happy to enjoy the FIVE-star customer quality!
I have updated my review as you well deserved it.