eToro review 2024: Commission-free social trading and investing

eToro at a glance

Feature	Rating	Details
Investment options	★★★★★	Stocks Options ETFs Cryptocurrency
Trading costs	★★★★★	Zero commission stock, option and ETF trades, with no options contract fees. eToro doesn’t offer margin trading.
Account fees	★★★★★	No annual fee but a $10 monthly inactivity fee applies after 1 year of inactivity.
Account types and minimums	★★★★★	Offers individual brokerage accounts only with no minimum deposit requirements.
Trading platforms and technology	★★★★★	Offers mobile and web-based trading platforms, with advanced charting and analysis features and research tools, but not as robust as top platforms.
Features and amenities	★★★★★	Fractional share trading Instant buying power Paper trading Educational articles and videos
Customer support	★★★★★	Contact eToro customer support by live chat, phone and email, with 24/7 availability.
Mobile app	★★★★★	Google Play app reviews: 3.9/5 stars based on over 138,900 reviews Apple App Store app reviews: 4.3/5 stars based on over 2,420 reviews
Cash sweep rates	★★★★★	Earn up to 4.9% APY but only on uninvested cash in your options account.

To learn how our star ratings are calculated, read our methodology.

eToro is best for beginner-to-intermediate investors and crypto traders

Beginner traders and investors will find a user-friendly web and mobile platform that simplifies trading without sacrificing features. eToro’s commission-free stock, ETF and options trades and no options contract fees as well as the advanced, customizable charts and research tools make it a suitable platform for active traders and investors. Meanwhile, eToro differentiates itself from other brokers with the ability to transfer coins to an external wallet.

What we like about eToro

eToro offers an accessible trading platform that doesn’t skimp on features. Here’s where it stands out:

Commission-free trading

eToro offers commission-free stock, ETF and options trading. It’s also one of just a handful of brokers that doesn’t charge per-contract options fees. Meanwhile, trade crypto on eToro for a flat 1% buy and sell fee with no added spreads.

Advanced trading tools

For a mobile-first trading platform, eToro’s trading tools are impressive. Here are some of the tools you can use to trade with on eToro:

• Social feed
• Watchlists
• Trending stocks
• Advanced charts
• TipRanks-powered analyst ratings and price targets
• Hedge fund activity
• Insider transactions
• News
• Company financials

Note: There is a separate app for trading options called eToro Options Trading.

Copy the crypto trades of others

eToro offers a unique features called CopyTrader, which lets you replicate the crypto trades of other eToro users. View traders participating in the program, scope out their portfolios, stats, risk scores and more and choose a trader to copy, all at no extra cost. Trade three cryptos on eToro for a straightforward 1% buy and sell fee and take full ownership over your crypto with eToro Money, eToro’s crypto wallet. For more information about the fees and features of trading crypto on eToro, check out our full eToro crypto review.

Finder exclusive bonus with eToro

• Get a guaranteed bonus of $15 when you sign up and deposit $100
• $0 stock trading fee
• Winner for Best Trading Platform for Beginners

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Where eToro falls short

eToro does not support stock and crypto trading in New York, Nevada, Minnesota and Hawaii. While residents of these states can sign up for a free account, they can only access eToro’s virtual trading. For those eligible to trade with eToro, account types are also limited to brokerage accounts — no tax-advantaged retirement accounts or joint accounts.

As of right now, eToro also does not support margin trading.

eToro’s fees

Type of fee	Fee details
Minimum deposit	$0
Annual fee	$0
Stock and ETF trading fees	$0
Options trading fees	$0
Options contract fees	$0
Crypto trading fees	$1
Withdrawal fee	$0 (minimum withdrawal amount of $30)
Inactivity fee	$10
Domestic wire transfer	$8 incoming, $25 outgoing
Returned check, ACH or stop wire transfer fees	$75
Outgoing account transfer fee	$75

Is eToro legit?

eToro’s a legitimate company and broker. The broker has grown to serve more than 35 million users in more than 100 countries since it launched in 2007.

eToro USA Securities Inc is registered with the Financial Industry Regulatory Authority and handles the brokerage services. eToro USA LLC is registered with the US Financial Crimes Enforcement Network and handles crypto assets.

eToro’s platform is also considered safe and secure. Advanced encryption and masking technologies, two-factor authentication and 24/7 infrastructure monitoring are some of the measures in place to keep customers’ personal and financial information safe. eToro operates in accordance with FINRA and FinCEN and any funds in your eToro account is held in FDIC-insured US banks.

What Matt thinks about eToro

eToro's unique social trading features let you collaborate with other investors and quickly put investment discussions into action. Its CopyTrader feature, though only currently available for crypto, takes this a step further and lets you automatically copy the trades of other investors. It's a unique take on automated investing and it's a feature that sets eToro apart from the competition. We hope to see it available to stock and ETF traders soon.

— Matt Miczulski, Editor, Investments.

Customer experience

eToro’s online customer experience reflects a mix of reviews across the Better Business Bureau (BBB), Trustpilot and Reddit. On the BBB, eToro often faces criticism for issues related to customer service responsiveness and account handling, resulting in a relatively low rating and several complaints. It has a D- rating, is not BBB accredited and earns a 1.05 out of five stars based on 19 reviews, as of June 2024.

Trustpilot presents a more positive picture, with many users praising the platform’s user-friendly interface and innovative social trading features. However, others highlight concerns about withdrawal times and customer support efficiency. The platforms holds a 4.2 out of five stars on Trustpilot based on over 23,490 reviews.

On Reddit, discussions are similarly diverse, with some users appreciating eToro’s unique social trading functionalities and ease of use, while complaints involve platform downtime during high volatility and occasional transparency issues with fees. Overall, eToro’s customer experience varies widely, with positive remarks about its features tempered by recurring concerns about customer service and operational reliability.

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Frequently asked questions

How do you buy Tesla stock on eToro?

Buy Tesla stock on eToro in a few simple steps:

1. Open a stock trading account on eToro. Select “Sign up now” below.
2. Confirm your payment details.
3. Fund your account with a bank transfer and take advantage of any signup bonuses.
4. Search for the stock name by ticker symbol – TSLA – and buy the stock.

Sign up now

Where is eToro based?

eToro has offices in Cyprus, Australia, the UK and the US, with the main headquarters being in Tel Aviv, Israel.

How do I close my eToro account?

If you’d like to close your eToro account, ensure that you have withdrawn your funds from your balance and closed any open positions. You can then close your eToro account by going to the Account Settings section and following the instructions after clicking “Close your eToro account.”