Gianluca L. Vérifié par Gianluca L.
Updated: 21 march 2024
9 minutes

What is the eToro platform?

The eToro platform has extensive experience in trading assets including cryptos. Discover the eToro platform in broad terms below .

General

eToro

eToro is a brokerage platform with over 20 million users worldwide. Created in 2007, the eToro platform offers crypto trading services but not only that. Thus, the platform also allows trading in currencies, commodities, stocks, etc. However, crypto is the main contributor to eToro’s success, representing more than half of its revenue. Under a single interface, eToro allows you to trade the following assets:

  • 3,000+ ​​shares
  • 55 currencies
  • 88 cryptocurrencies
  • 21 clues
  • 32 raw materials
  • 532 ETFs

The platform describes itself as ” one of the world’s leading social investing networks and aims to revolutionize the way people invest and improve financial education for investors.” »

The particularity of eToro is to offer the sale and purchase of cryptos (real). Around sixty cryptos are available on eToro . The eToro platform is appreciated by beginners and trading experts alike. For beginners, eToro also sets up “social trading” and “copy trading” training and services to learn from the best experts. In addition to a user-friendly and comprehensive website, eToro has developed a mobile application which provides more flexibility for users.

eToro

  • Number 1 copy trading platform
  • Integrated social network for traders
  • Trading cryptocurrency CFDs

History

As mentioned above, the origin of the eToro platform dates back to 2007 . At that time, it was just a regular online trading platform for educational purposes. eToro’s objective was already to popularize trading and make assets accessible to as many people as possible. In 2009, eToro launched a trading service called Webtrader, designed for beginners and experts.

In 2010, eToro innovated and launched the world’s first social trading service. With its “copy trading”, any user could then imitate the orders of the greatest traders to learn. The platform also won the prize for the most innovative Fintech company in Europe.

In 2012, eToro launched its mobile application on Apple and Android then introduced in 2013 the trading of Bitcoin then stocks in addition to that of currencies or raw materials

eToro download

But the important year to remember for eToro is 2017. This is in fact when eToro innovates again and adds trading of cryptos other than Bitcoin, in particular:

  • Ethereum
  • Ripple
  • Litecoin

68% des comptes des investisseurs de détail perdent de l'argent lorsqu'ils tradent des CFD avec ce fournisseur.

The eToro ecosystem

Like other platforms, eToro offers much more than just crypto trading. Discover the different components of the eToro ecosystem below.

Crypto trading

The eToro platform allows you to trade cryptos , find out how.

Cryptocurrencies available on eToro

eToro currently offers 88 cryptocurrencies for trading. Among these cryptos, we find the largest coins in terms of capitalization such as :

  • Bitcoin (BTC)
  • Ripple (XRP)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Dash (DASH)
  • Cardano (ADA)
  • Zcash

You will also find many tokens operating on the Ethereum blockchain such as:

  • Polygon (MATIC)
  • Maker (MKR)
  • Decentraland (MANA)
  • Enjin (ENJ)
  • Shiba in millions (SHIBxM) (equivalent to one million SHIB tokens)

The full list of coins available on eToro is available on the site.

Buy/sell cryptos

As mentioned above, eToro also offers buying and selling cryptos . What does that mean ? A CFD is the English acronym for “  Contract For Difference  ”. In fact, a crypto CFD is an asset that reproduces the price of a crypto. If the price of the crypto in question increases, so does that of your asset. Concretely, CFDs allow you to bet on the price of a crypto , whether it is up or down.

Another reason why CFDs are popular is that they allow you to make money even when the price of a crypto falls. This would be impossible if you had to buy crypto.

“  We limit your risk so you don’t limit your potential. You will never lose more than the amount invested on each position. CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. 68% of retail investor accounts lose money trading CFDs with this provider. You need to know if you understand how CFDs work and if you can afford to lose your money. » eToro

CFDs therefore have many advantages but they are not without risks. Moreover, the platform clearly displays these risks and warns its users. The broker thus indicates in complete transparency that 68% of individuals have lost money while trading CFDs.

Furthermore, if you absolutely want to own Bitcoin, trading (and more generally eToro) is not for you. Indeed, with the purchase and sale of crypto you buy an asset which reproduces the price of a crypto but not the crypto as such.

eToro

  • Number 1 copy trading platform
  • Integrated social network for traders
  • Trading cryptocurrency CFDs

68% des comptes des investisseurs de détail perdent de l'argent lorsqu'ils tradent des CFD avec ce fournisseur.

Non-Crypto Asset Trading

The eToro platform also offers trading on other assets such as:

Raw materials like:

  • Oil
  • Copper
  • Natural gas
  • Gold

Currencies such as:

  • US Dollar
  • Euro
  • Pound

Actions like:

  • Amazon
  • Netflix
  • Apple
  • Microsoft
  • Spotify
  • McDonald’s

In other words, on the same interface, you can trade Bitcoin as well as gold and buy Apple shares for example! You should also know that the platform does not charge any fees for any purchase or sale of stocks and ETFs if your first deposit is at least $50. As a reminder, an ETF is a basket of shares. Another particularity, eToro allows you to buy fractions of shares, which is rather rare with other brokers.

Copy Trading

Would you like to perform as well as experienced traders who make a living from their investments? With eToro, you can train with the best!

The platform indeed provides a “  Copy trading  ” service. As its name suggests, this module allows you to “copy” orders placed by professional traders in order to learn and earn money. The Copy Trading tab allows you to access the profiles of different traders. You will be able to see their performance and choose the one or those you want to imitate. The minimum amount to deposit to use this service is $200.

Copy Portfolios

This is another service put in place by eToro and which is ve m hi ⁷y the ⁸⁸ry popular with buyers. The CopyPortfolio brings together baskets of the best performing stocks of the moment in a specific sector. This simplifies the management of your portfolio and gives you the opportunity to diversify your assets quickly and easily.

A training module

eToro trading module

From the beginning of its history, eToro has always capitalized on the need for training and education of buyers. Thus, it is not surprising to see that 15 years after its creation, eToro is one of the most popular platforms for training in cryptos and trading.

For example, for a risk-free initiation, eToro suggests using a virtual wallet . This wallet contains virtual funds which are only used for demonstration purposes. This way you can try different order types and gain experience before betting your own money.

Staking

Staking is a way to put your cryptos to work. By blocking your crypto funds for a certain time, you receive a percentage of remuneration. Staking is similar to the principle of remunerated savings , well known in traditional finance. The eToro platform notably offers staking of Cardano (ADA), Tron (TRX) and Ethereum (ETH). The percentage of interest earned depends on your membership level (see below).

eToro Club

The platform offers different account levels that provide access to exclusive benefits. The different levels of membership are as follows:

  • Silver
  • Gold
  • Platinum
  • Platinum+
  • Diamond

If you are part of the closed circle of Platinum + and Diamond, you will be able to attend exclusive events sponsored by eToro. For each type of account, find out how to declare the eToro account and tax information in France

eToro

  • Number 1 copy trading platform
  • Integrated social network for traders
  • Trading cryptocurrency CFDs

68% des comptes des investisseurs de détail perdent de l'argent lorsqu'ils tradent des CFD avec ce fournisseur.

How to trade crypto on eToro?

Want to get started in crypto trading with eToro  ? So discover the steps to take your first steps on the platform.

Opening an account

eToro accounts

The first step, as with any other platform, is to open your account. To do this you will need to fill out a classic identity form which asks for the following information: username, email and password.

Secure account

The eToro platform implements processes to ensure a high level of security. To do this, it uses firewalls and data encryption. Additionally, eToro uses a two-factor authentication (2FA) system. Concretely, with this additional security, you must provide a code received by SMS in addition to your password to connect. This way, you limit the risks of having your account hacked.

Verify your account

After your registration, the platform will verify your account and identity. To do this, you will be asked to provide supporting documents such as identification and/or proof of address.

Deposit funds

Before you start trading crypto, you need to fund your eToro account . Nothing could be simpler for that! All you have to do is go to the “Fund deposit” tab from your personal space. The eToro platform requires a minimum deposit to start your trading activities. In France, this minimum is $50, or around 42 euros.

You can make this money deposit in several ways such as:

  • Paypal;
  • Credit card;
  • Other banking services like Neteller, Rapid Transfer, etc.

You should know that the platform only deals with dollars. If this does not prevent you from paying euros, be aware that your money will be automatically converted into dollars, which incurs conversion costs.

Trading

Trading on eToro

To trade crypto , simply go to the “Markets” tab in the left column. Once you have selected the crypto market, you will have access to all available coins. Again, remember that the platform only deals in dollars. Also when you have the amount of your order to enter, it will be indicated in dollars.

The eToro platform allows you to trade CFDs on cryptos and integrates tools to optimize your orders. For example, you can use leverage (up to times two). This allows you to maximize your added value and therefore minimize your investment. To secure these leverage effects (which also work when you lose), eToro gives you the option of using Stop Loss or Take Profit type mechanisms.

What are the fees on eToro?

The eToro platform implements the following fees:

  • Conversion or deposit fees in currencies other than dollars. As explained above, eToro only manages dollars and will therefore convert your euros. This therefore incurs exchange costs. These fees are lower per bank transfer (0.5%) than if you use a bank card (1.5%) to fund your eToro account.
  • Withdrawal fee. These are fixed fees that apply when you withdraw your funds from the platform. In 2022, the broker reduced these fees to just $5 per eToro money withdrawal .
  • Inactivity Fee. Rather rarely, eToro charges fees in the event of prolonged inactivity on your part. Concretely, if you have not connected to eToro in the last 12 months, the platform will take $10 per month from your balance.
  • Transaction fees. These fees apply depending on whether you sell or buy crypto and amount to 1%. These fees are directly included in the price of the crypto.
  • Night care costs. Fees apply if you place an order at night, specifically after 5 p.m. (New York time). These fees are tripled if it is the weekend. The amount of these fees varies. You will find it clearly indicated at the bottom of your window describing your order.

68% des comptes des investisseurs de détail perdent de l'argent lorsqu'ils tradent des CFD avec ce fournisseur.

Regulations of the eToro platform

etoro regulation

The eToro platform is not strictly speaking a crypto platform but rather a broker. As a brokerage platform, it is therefore subject to regulations.

Established in many countries, eToro multiplies certifications such as:

  • In Europe. The eToro platform is certified by CySEC, the Cyprus Securities and Exchange Commission
  • The UK. The eToro broker is subject to the regulations of the FCA, the Financial Conduct Authority
  • In Australia. The eToro platform is regulated by ASIC, the Australian Securities and Investments Commission

eToro users in France can trade cryptocurrencies only in the form of CFDs.

68% des comptes des investisseurs de détail perdent de l'argent lorsqu'ils tradent des CFD avec ce fournisseur.

Is the eToro platform secure?

As explained above, the eToro platform puts in place several barriers against identity theft and theft. For example, you can use the two-factor authentication system. But above all, remember, eToro does not allow you to own cryptos, only to trade CFDs. In other words, on eToro, there are no cryptos to steal! You, therefore, run no risk of losing your assets.

For the moment, the eToro platform has not been the subject of significant cyberattacks.

eToro

  • Number 1 copy trading platform
  • Integrated social network for traders
  • Trading cryptocurrency CFDs

68% des comptes des investisseurs de détail perdent de l'argent lorsqu'ils tradent des CFD avec ce fournisseur.

Our Final Verdict on eToro Wallet


Our review of the eToro wallet is overwhelmingly positive. The platform, although simple, provides the basic services that any cryptocurrency wallet user would expect. The limited number of supported cryptocurrencies is mostly due to the fact that the application is still new and in development. Nevertheless, eToro wallet solidly maintains its position as one of the best wallets, and that is why our review reflects this sentiment.

Beginners will encounter no difficulty in navigating the application or conducting their initial cryptocurrency fund transfers. For experienced users, it serves as a convenient secondary wallet to carry on their mobile devices. Moreover, the platform has made sound choices in terms of security to provide a stable and reliable environment for its users.

Therefore, eToro wallet stands out as one of the top wallets currently available, based on our review. In the upcoming stages of its development, the application is expected to introduce support for additional tokens. It is also possible that new features may emerge within the wallet; however, no information has been confirmed on this matter as of yet.

Advantages and disadvantages of eToro

  • Clean interface adapted to all trader profiles
  • Numerous training and learning services available (demo account, copy trading, etc.)
  • Possibility of trading CFDs on cryptos
  • Clear and transparent fee schedule
  • Many products available for trading (commodities, cryptos, currencies, etc.)
  • Mobile application
  • Over 15 years of trading experience
  • Crypto CFD trading that allows you to earn money even when the crypto price drops
  • An interface available in French
  • The platform only manages dollars, which generates conversion fees
  • Limited number of altcoins
  • No possibility of owning cryptos
  • Exposure to the risks of CFD trading

General

Is eToro a serious site?

The eToro platform is serious and operates completely legally. It is regulated in Europe according to the criteria of CySEC, the Cyprus Securities and Exchange Commission.

Where is eToro based?

eToro is headquartered in Israel and has offices in the United States, England and Australia.

Is eToro free?

The eToro platform has become known in particular with its “zero commission” offer. In other words, if you buy or sell shares, you will not have to pay any fees. This is not the case with cryptos. Crypto trading involves various fees such as conversion, transaction, custody and inactivity fees.

How to trade cryptos on eToro?

Typically, you will first need to transfer funds to your eToro account. Then, you can start trading cryptos like Bitcoin. As a reminder, eToro offers CFD trading on cryptos and does not allow you to own bitcoins yourself.

Why can't I buy crypto on eToro?

Since January 31, 2021, only crypto CFD trading is possible on eToro. This complies with the Markets in Financial Instruments Directive (MiFiD). A crypto CFD is an asset that reproduces the price of a crypto. This type of trading allows you to bet on the evolution of the price of a crypto, whether upwards or downwards.