• CopyPortfolios: ★★★★★ 5/5
  • Cryptocurrency Trading: ★★★★☆ 4/5
  • Digital Wallet: ★★★★★ 5/5
  • Virtual Portfolio: ★★★★★ 5/5
  • Popular Investor Programme: ★★★★★ 5/5

eToro 2021 Review UK [Features, Pricing, Pros & Cons]

Fact-checked
  • CopyPortfolios: ★★★★★ 5/5
  • Cryptocurrency Trading: ★★★★☆ 4/5
  • Digital Wallet: ★★★★★ 5/5
  • Virtual Portfolio: ★★★★★ 5/5
  • Popular Investor Programme: ★★★★★ 5/5

Best For

Beginners & casual investors

STRENGTHS

  • Best selection of cryptocurrencies
  • Various cryptocurrencies available for trading
  • User-friendly interface
  • Demo account
  • Straightforward pricing structure

WEAKNESSES

  • Higher trading fees compared to other platforms
  • Lack of stocks and other investment options

eToro is an online trading platform that has attracted a lot of attention in recent years. If you’re interested in the world of trading, read our eToro review that provides an in-depth analysis of the platform, its features, and pricing model. Let’s get started!

What Is eToro and How Does It Work?

eToro is an online broker and investment platform that was founded in 2007; it has since acquired more than 13 million users from 140 countries around the world. The platform is registered in Cyprus, the United Kingdom, the United States, and Australia. In the UK, it is regulated by the Financial Conduct Authority, while retaining a cross-border license that allows it to operate in other European countries.

Although eToro is not a publicly traded company and doesn’t operate a bank, it’s regulated by two tier-1 jurisdictions and one tier-2 jurisdiction, which makes it a safe place for CFD, forex, and stock trading. Is eToro safe? You can rest easy: in addition to the platform’s adherence to strict regulations, UK clients have investor protection that protects assets up to £85,000.

eToro prices are often discussed, although recently they introduced zero commission trading to match the offers of competitors. Both the eToro mobile app and web platform are user-oriented, making them the ideal choice for beginners in the trading industry and casual investors. Overall, eToro is one of the best apps for stock trading available to UK traders.

The Features of eToro

When I began researching the company for this eToro review in the UK, the first thing I noted was the number of features offered on the platform. For clarity, I decided to single out the ones that stood out the most, and those that I believe will be truly useful to new traders on eToro.

CopyPortfolios

The best feature eToro offers is CopyPortfolios – a copy trading feature that allows traders to copy other investors’ portfolios without giving much thought to investments. This is an easy way to buy shares, stocks, cryptos, and other assets. It’s also a great way for independent investors to diversify their portfolios; there’s a stop-loss option that limits potential losses.

Cryptocurrency Trading

The rising popularity of cryptocurrencies has made crypto trading an essential part of every platform – eToro offers a wide variety of cryptos you can trade. Other eToro reviews show that you can trade 26 of the most popular cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Dash. The process of crypto trading is made easy with eToro, and anyone can begin trading cryptos on this platform.

Digital Wallet

The eToro wallet is available only in the mobile app. This digital wallet allows users to store cryptocurrency and exchange fiat currency for cryptos. However, there are two things you should keep in mind: first, transfers are one-way, so once the coins have been stored in a wallet, they can’t be transferred back to the platform. Second, there’s a 5% conversion fee when you’re exchanging fiat for cryptos and vice versa.

Virtual Portfolio

eToro reviews in the UK single out one alluring feature – the virtual portfolio. This is ideal for investors who are just starting and don’t have a feel as to how the market works! The portfolio awards users 100,000 in virtual money they can use for mock trading, which allows them to see how their trading strategy can perform on the platform.

Popular Investor Programme

Popular Investor is a feature unique to eToro, which allows successful investors to share their strategies with other traders and receive compensation for their help. While looking into the company for this eToro review, I found that there are four levels in this program – Cadet, Champion, Elite, and Elite Pro. The amount the investor receives as compensation depends on the membership level on the platform.

Ease of Use

Many potential investors, when choosing a trading platform, ask is eToro good; more importantly, is it easy to use?

The answer to this is yes! The platform is user-oriented and allows users to carry out tasks quickly and easily.

eToro users can create a watchlist to track the prices of desired investments and place investments directly from watchlists, depending on the market analysis they’re shown.

Creating an account at eToro is straightforward – once you submit all the necessary information, you just need to wait a few days for your account to be approved and you can begin trading immediately!

Pricing and Fees

For this eToro UK review, I thought it was most important to look into prices for using the platform since this is often a determining factor when choosing a product.

Pricing

eToro is similar to other trading platforms in that it charges a spread between the asking price and the bid. Spreads are fees collected by the broker in exchange for their services – this is what brokers do. In addition to this, investors pay a single percentage spread when they buy a new asset, which is adjusted when the asset is sold. However, eToro will give you a refund for a percentage of the spread if you lose a significant amount when selling it – a practice unseen among other online brokers.

For my review of eToro, I learned that you need to make a minimum deposit of £50 when opening an account with eToro, although you can open a demo account to try out the service before you put down any money.

Fees

The platform charges deposit fees, and withdrawal fees. There’s also an inactivity fee if you haven’t used your account for a year – and don’t forget about the conversion fee when exchanging currencies!

The good news is that eToro doesn’t charge account or maintenance fees, or even management fees unless you’re using the copy trading feature.

Customer Support

The latest eToro reviews for 2021 show that users are generally satisfied with their customer support. Traders can submit a support ticket on the online platform, or contact support through live chat, which is available Monday through Friday 24/7. The live chat is only available to users with active accounts; this is usually the better option since response times are faster than ticket submissions.

What really stands out in the eToro customer support department is the fact that they’re available in multiple languages. Users from around the world can contact the team in their native language, which is a huge help!

Alternatives

If you go through several eToro trading reviews, you’ll notice that it’s often compared to businesses that offer similar services. For this review, I decided to only take its three main competitors into consideration.

eToro XTB IG Plus500
Win Best selection of cryptocurrencies Quick deposits and withdrawals CFD trading Large selection of financial products
Lose Higher fees compared to other brokers High stock CFD fees Limited product portfolio Only one account type
Best For Beginners & casual investors Forex and CFD traders Traders on the London Stock Exchange Those looking for various trading options

eToro dominates over competitors with its number of offered features, but not just that – this is objectively the best platform for crypto trading, and its design allows beginners to start trading without difficulty.

Is eToro Worth It?

The number of unique features available on the eToro platform is unseen on other websites – not only are these features unique, but they’re also functional and easy to use. In addition, the broker is constantly expanding. According to eToro trading reviews, the brokerage is constantly increasing the number of tradable assets and is becoming available in new geographic regions. The fact that it can be used by novel investors just as well as it can be used by experienced traders, makes the platform worth every penny!

People eager to enter the crypto trading world should see eToro as one of the best choices. The platform is unprecedented in crypto trades, and is great to utilize if you have cryptocurrencies you want to trade; this is confirmed by other various eToro reviews.

FAQ

Is eToro trustworthy?

Yes! eToro is safe to use – all deposited funds are kept in tier-one banks, and personal information they receive upon registration is secured by SSL encryption. This makes eToro a secure place for your funds and sensitive material.

Can you make money with eToro?

Definitely! If you make smart investments on eToro and keep track of the economic calendar, you can turn a substantial profit. However, you need to keep in mind that there’s always the risk of losing money, just like any other investment.

Can you get scammed on eToro?

This eToro review says no, this trading platform is not a scam – the company is licensed to operate in Europe and the US, and it implements security protocols that ensure all information is safe from others.

ABOUT AUTHOR

I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.