eToro Assessment 2021: Is eToro Legit & Worth it?

With the introduction of Bitcoin in 2009, it became possible to trade money over the internet. The technology has been used for a wide variety of purposes, but one of the most popular is to trade stocks, currencies, and commodities online. The concept of investing in the stock market is not new, but it has become far more popular in recent years. With the advent of the internet, people can now invest in stocks and exchange-traded funds (ETFs) from their home, office or mobile phone.

The eToro online trading platform is a great alternative to traditional forex trading. It’s accessible from all over the world.

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eToro is one of the most popular trading platforms in the world that opened its doors to the US market in 2018. This is a unique tool in the trading industry because it not only allows you to trade, but also to have a social trading platform.

For

• 15 cryptocurrencies you can trade 24/7, including major coins like bitcoin, ripple and ethereum, and smaller ones like eos, iota, tron and tezos.
• User-friendly website and mobile application
• A great community for cryptocurrency traders
• Social trading allows you to copy the portfolios of successful traders.

Cons

• US customers are limited to trading cryptocurrencies, while eToro offers trading forex, CFDs and stocks in other countries.
• High sales commission – up to 5% on cryptocurrency sales.

Acorns

Minimum deposit $5 with a monthly fee of $1.

Automatic free money investment

Earn up to 5% cashback with an interest-bearing current account.

Hideaway

Start with an investment of just $5.

Buy fractional shares of companies like Amazon or Apple.

Only $1 monthly fee (for accounts up to $5,000) or 0.25% annual fee for accounts over $5,000.

BlockFi

High return (8.6%) on your deposits in cryptocurrencies.

No minimum withdrawal requirement and no monthly fees

Gemini insured portfolio – $200 million insurance value.

What is eToro and how does it work?

eToro is one of the most popular trading platforms in the world that opened its doors to the US market in 2018.

This is a unique tool in the trading industry because it not only allows you to trade, but also to have a social trading platform.

But what is a social trading platform and how does it work?

In fact, trading on eToro is transparent, meaning you have access to other people’s trades, giving you the opportunity to benefit from their expertise.

But more on that later, let’s see what assets you can trade on eToro.

Overall, eToro offers its European customers a range of trading assets, including forex, stocks, CFDs and cryptocurrencies.

Currently, as a US citizen, you can only trade in cryptocurrencies. However, eToro offers a wide range of cryptocurrencies to trade.

Here is a list of the crypto currencies you can trade through eToro:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ethereum (ETHEREUM)
• Ethereum Classic (ETC)
• Litecoin (LTC)
• Ripple (XRP)
• Dash (DASH)
• Star Lumen (XLM)
• NEO
• EOS
• Cardano (ADA)
• IOTA
• Zcash (ZEC)
• TRON (TRX)
• Tezos (XTZ)

In which states of the US is eToro available?

Real trading from eToro is currently available in the following US states:

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Florida
• Georgia
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Mississippi
• Missouri
• Montana
• Nebraska
• New Jersey
• New Mexico
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania,
• Rhode Island
• South Carolina
• South Dakota
• Texas
• Utah
• Vermont
• Virginia
• Washington
• Washington, D.C.
• West Virginia
• Wisconsin
• Wyoming
• Northern Mariana Islands
• United States Small Pacific Islands

Is eToro legal and safe?

Yes, eToro is a legitimate company registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). Moreover, eToro is also approved by state regulators.

But what does all this mean, you may ask. Let me explain. In fact, regulators require financial companies like eToro to keep your funds in an FDIC-insured deposit account.

FDIC stands for Federal Deposit Insurance Corporation, which insures your money up to $250,000. This means that if something goes wrong with the company, even if eToro goes bankrupt, your money is still protected and returned to you.

minimum investment eToro

eToro allows you to buy fractions of cryptocurrencies instead of whole units. That’s why you can start trading from as little as $25.

However, a minimum of $50 must be deposited into the account.

eToro Trading Watch

One of the best features of eToro is that you can trade cryptocurrencies there 24/7. This means that the crypto currency trading market is still open for trading.

eToro features: What’s the catch with eToro?

CopyTrader

eToro is known for a feature called CopyTrader. Essentially, CopyTrader allows you to find other successful traders and copy all their trades with one click. Ultimately, if they negotiate, you automatically negotiate with them. And whatever result they get, you get exactly the same result.

If you are new to the market or simply do not have the time to follow the market, copying experienced traders is a good option.

And the best thing about CopyTrader is that you don’t pay any extra commission to copy successful traders.

People’s Investors Programme

Not only can you copy the trades of others, but you can also become a popular investor and earn additional monthly income while others copy your trades.

The table below shows the requirements and the amount you can earn when others copy your transactions:

Source: eToro Popular Investor

eToro provides a platform where you can join a community of top crypto traders to connect and learn. You can also view other investors’ portfolios, statistics, risk ratings and more. On the platform you can also chat with traders, discuss strategies and learn from their experiences.

eToro mobile application

The eToro app is available on iOS and Android devices and offers the same features as the web version. The only downside is that there are fewer analytics options in mobile apps.

Education

To help you improve your skills and make informed decisions, eToro also offers basic trading training. Their educational content includes information on cryptocurrencies and news and analysis to help you trade.

Club eToro

Club eToro offers exclusive member benefits, including:

• A dedicated account manager
• Market Bulletin
• Quarterly report by market analysts
• Live Webinars
• Platform for trading signals
• Priority customer service
• Wall Street Journal subscription

eToro Affiliate Program

By joining the eToro affiliate program, you can make money by promoting the world’s leading social investment network.

Once you have signed up as an eToro affiliate, an eToro affiliate manager will contact you to give you information about the program and discuss your withdrawals.

fresh eToro

eToro charges no commissions, has no withdrawal fees (minimum withdrawal amount: $30) and no hidden fees.

But eToro’s commission is based entirely on spreads.

In trading, the spread is the difference between the purchase price (supply) and the sale price (offer). And eToro takes a percentage of that difference, which is added to your trade when you trade.

Here is the percentage charged on each spread, depending on the cryptocurrency you are trading:

Crypto Currency	Spreads
Bitcoin (BTC)	0.75%
Bitcoin Cash (BCH)	1.90%
Ethereum (ETHEREUM)	1.90%
Litecoin (LTC)	1.90%
Ripple (XRP)	2.45%
Dash (DASH)	2.90%
Ethereum Classic (ETC)	1.90%
Star Lumen (XLM)	2.45%
NEO	1.90%
EOS	2.90%
Cardano (ADA)	2.90%
IOTA	4.5%
Zcash (ZEC)	3.5%
TRON (TRX)	3.5%
Tezos (XTZ)	5%
Binance room (NBB)	2.45%

Please note that the above percentages may vary slightly depending on market conditions. However, you will be informed of the exact amount of commission you will be charged before the transaction.

Let’s take a concrete example to better understand how variance committees work. Imagine trading bitcoins. eToro charges 0.75% of the final price you sell your bitcoins for.

Suppose you bought 1 bitcoin for $40,000, then $300 in fees will be added to your transaction (0.75% of $40,000).

Then if the price of bitcoin rises to $45,000 and you want to sell it, only $15 commission will be added to your sale. Here’s why: A commission of 0.75% is applied to the final price, which in this example is $42,000. 0.75% of $42,000 is $315. And since you already paid $300 when you bought the bitcoin, you only have to pay the remaining $15 when you sell it.

This kind of price adjustment can also benefit you. For example, if the price of bitcoin drops and you decide to sell it, the spread is calculated and you get back the extra commission you’ve already paid.

How do I start trading on eToro? step by step instructions

Step 1 – Open an eToro account

To start trading on eToro, you must first open an account.

The registration process is simple and you do not need to provide any personal information about yourself. Make sure you provide the correct information, as you will be asked to confirm your identity after completing the initial application.

You can prove your identity with valid (not expired) documents, such as. B.

• US passport
• Driving Licence
• State ID

Step 2 – Test your skills

Once your account is approved and you are logged in, you will have access to a $100,000 virtual wallet to practice trading and improve your skills.

Note that the process of trading in virtual money is exactly the same as that of real money.

Here’s a step-by-step guide to trading:

1. Search for the crypto-currency you want to buy.
2. Click on the trade
3. Enter the desired investment amount
4. Click on the Open Transaction button

Step 3 – Start trading

Once you have practiced your skills and feel ready to dive into real trading, simply follow the same steps you took when practicing your trading skills. But this time you will deposit real money.

eToro’s Pros and Cons

Professional

• 15 cryptocurrencies you can trade 24/7, including major coins like bitcoin, ripple and ethereum, and smaller ones like eos, iota, tron and tezos.
• User-friendly website and mobile application
• A great community for cryptocurrency traders
• Social trading allows you to copy the portfolios of successful traders.

Cons

• US customers are limited to trading cryptocurrencies, while eToro offers trading forex, CFDs and stocks in other countries.
• High sales commission – up to 5% on cryptocurrency sales.

eToro Alternatives

Let’s take a look at eToro’s main competitors and see how they compare:

eToro vs Robinhood

Robinhood is one of the largest trading platforms in the US and the biggest alternative to eToro. However, unlike eToro, Robinhood does not offer a copy trading feature. Additionally, Robinhood focuses on trading stocks, while eToro offers cryptocurrency trading only to US residents.

Summary

• Free Trade
• No minimum deposit
• Access to crypto-currencies
• Receive alerts on news in the stock market

eToro vs ZuluTrade

Like eToro, ZuluTrade is a social trading platform that allows you to directly follow other traders and copy their trades. However, ZuluTrade cannot monitor traders’ signals, so you can only open one trade at a time. If you copy traders with a large number of open positions, your results will differ significantly from the results of the investor you copy. Additionally, ZuluTrade offers currency trading and you can trade with Forex.com and FXCM.

eToro vs Fidelity

While eToro is mostly known for its social trading feature, Fidelity is a regular broker. Fidelity offers many trading instruments such as stocks, CFDs and options, while eToro only offers cryptocurrency trading for US residents.

Assessment: Is eToro worth it?

Still wondering if you can make money with eToro?

Whether you are a beginner interested in trading cryptocurrencies or an experienced trader, you can benefit from eToro’s social trading. After weighing the pros and cons, you can conclude that using the platform and all the features that eToro offers will be beneficial to you rather than regrettable.

But even though trading with eToro seems easy, don’t expect to get rich overnight.

Tip: Invite your friends to join eToro so that you both receive a $50 reward when your friend makes a transaction of at least $100. The more friends you attract, the more money you make.

eToro FAQ

Is eToro good for beginners?

eToro is good for beginners because it offers training and the ability to copy portfolios of successful traders.

Can you win with eToro’s Copy Trading?

Yes, profit is definitely possible with CopyTrading. But you should do your own research on the traders before you decide to copy them.

Do you pay taxes on eToro?

The income you earn at eToro is your income. Therefore, you are responsible for calculating and reporting the tax to your country of residence. You can use the information on your bank statement to calculate the taxable income you may have to report on your tax return.{“@context”:”https://schema.org”,”@type”:”FAQPage”,”mainEntity”:[{“@type”:”Question”,”name”:”Is eToro good 2021?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” eToro is a social trading and investing platform that lets you invest in a variety of assets, including stocks, cryptocurrencies, commodities, and more. eToro is a registered investment advisor that is regulated by the Financial Conduct Authority in the UK. “}},{“@type”:”Question”,”name”:”Is eToro safe and legit?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” eToro is a registered company in the UK and is regulated by the Financial Conduct Authority (FCA). eToro is also a member of the European Securities and Markets Authority (ESMA) and the Cyprus Securities and Exchange Commission (CySEC). eToro has been rated 4.6 out of 5 stars by independent reviews on Trustpilot. eToro is one of the most well-known trading platforms in the world. eToro has been around since 2006 and is based in the UK. eToro is one of the most popular trading platforms in the world. eToro is a registered company in the UK and is regulated by the Financial Conduct Authority (FCA). eToro is a registered company in the”}},{“@type”:”Question”,”name”:”Is eToro actually good?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:” eToro is a social trading platform that allows investors to invest in a variety of different assets. The platform is designed to be user-friendly and allows investors to trade on a variety of different markets. eToro is a good option for investors who are looking for a platform that is easy to use and allows them to trade on a variety of markets.”}}]}

Frequently Asked Questions

Is eToro good 2021?

eToro is a social trading and investing platform that lets you invest in a variety of assets, including stocks, cryptocurrencies, commodities, and more. eToro is a registered investment advisor that is regulated by the Financial Conduct Authority in the UK.

Is eToro safe and legit?

eToro is a registered company in the UK and is regulated by the Financial Conduct Authority (FCA). eToro is also a member of the European Securities and Markets Authority (ESMA) and the Cyprus Securities and Exchange Commission (CySEC). eToro has been rated 4.6 out of 5 stars by independent reviews on Trustpilot. eToro is one of the most well-known trading platforms in the world. eToro has been around since 2006 and is based in the UK. eToro is one of the most popular trading platforms in the world. eToro is a registered company in the UK and is regulated by the Financial Conduct Authority (FCA). eToro is a registered company in the

Is eToro actually good?

eToro is a social trading platform that allows investors to invest in a variety of different assets. The platform is designed to be user-friendly and allows investors to trade on a variety of different markets. eToro is a good option for investors who are looking for a platform that is easy to use and allows them to trade on a variety of markets.