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eToro USA 4.05 /5 A five pointed star
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4.05 out of 5 Stars Account Minimum $10 Fees 1% when you buy or sell a crypto asset; 0% stocks and ETFs Investment Types Cryptocurrencies, stocks, and ETFs View Full Details Learn more On eToro USA’s website eToro USA 4.05 /5 A five pointed star
A five pointed star
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4.05 out of 5 Stars Account Minimum $10 Fees 1% when you buy or sell a crypto asset; 0% stocks and ETFs Investment Types Cryptocurrencies, stocks, and ETFs View Full Details Learn more On eToro USA’s website eToro USA Learn more On eToro USA’s website Details Account Minimum $10 Fees 1% when you buy or sell a crypto asset; 0% stocks and ETFs Editor’s Rating 4.05 /5 A five pointed star
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4.05 out of 5 Stars Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros Check mark icon A check mark.It indicates a confirmation of your intended interaction.
Can trade bitcoin, dogecoin, ethereum, Litecoin, and a dozen other popular virtual assets; stock and ETF trading available Check mark icon A check mark.It indicates a confirmation of your intended interaction.
eToro’s Copy Portfolios let you follow and copy the portfolios of experienced traders to enhance your investment returns Check mark icon A check mark.
It indicates a confirmation of your intended interaction.
Several educational resources Check mark icon A check mark.It indicates a confirmation of your intended interaction.
Web and mobile app access Cons Dash icon A dash.It often indicates an interaction to shrink a section.
Not available to residents of New York, Minnesota, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, Northern Marianas, and the US Virgin Islands (see a full list of its geographic restrictions here) Dash icon A dash.It often indicates an interaction to shrink a section.
Limited selection of cryptocurrencies (eToro USA currently offers over 25) Dash icon A dash.It often indicates an interaction to shrink a section.
No margin accounts Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
More Information Promotion: None at this time.
Features: Dogecoin and 15+ cryptocurrencies, CopyTrader system, Copy Portfolios, and eToro Trading Academy App store rating: 4.6 iOS/ 4.3 Android Additional Reading Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Read our review Read Our Review A looong arrow, pointing right
Note: The prominent crypto exchange FTX recently filed for bankruptcy, setting off a chain reaction impacting other exchanges and leading various cryptocurrency values to plummet.Until the dust settles, proceed with extreme caution; it may be wiser to park your funds in a high-yield savings account until the crypto market stabilizes.Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Bottom line: eToro is best for crypto traders looking to exchange popular assets like bitcoin , ethereum , and dogecoin .It also stands out for its community features, which let you see how experienced traders are investing and even mimic their strategies.Note that eToro is not available in some US states and territories.
Overall rating Feature Insider rating (out of 5) Fees 4.75 Investment selection 3.50 Security 4.00 Ethics 4.00 Access 3.75 Customer service 4.25 Overall score 4.05 Is eToro right for you? eToro is an online cryptocurrency exchange offering bitcoin and fewer than 40 other cryptocurrencies.While the company has global reach, it has separate offerings for US traders.
US investors have three options: trade on their own, use eToro’s CopyTrader ™ system to mimic the portfolios of successful investors, or invest in one of its Smart Portfolios, which are portfolios of digital currencies overseen by eToro and its partners.
The exchange also offers educational resources and video guides, crypto wallet storage, and debit card support.
However, it isn’t the best option for those in search of margin trading, nor is it a good idea for traders who value larger cryptocurrency selections.
The eToro app is available on iOS and Android devices and on desktop.
eToro vs.Coinbase eToro Coinbase Min.
Investment
$10
Min.Investment
$2
Fees
1% when you buy or sell crypto asset; 0% stocks and ETFs
Fees
0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro
Investment choices
Cryptocurrencies, stocks, and ETFs
Investment choices
Cryptocurrencies
Open an account Open account Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
eToro and Coinbase both offer a variety of crypto products, but the two platforms differ when it comes to fees, investment choices, and account features.
eToro USA isn’t the best choice for traders who want a variety of cryptocurrencies to choose from.
The platform has a more limited selection, while Coinbase offers nearly 200 cryptocurrencies.Coinbase also offers several features that eToro doesn’t.These include NFT trading, features that pay you in crypto for taking courses on different assets, and numerous services for institutional clients (e.g., commerce, exchange, ventures, and crypto compliance services).
eToro has the upper hand, however, in multiple areas.For one, it doesn’t just offer cryptocurrencies.
The platform also provides commission-free stocks and ETFs.Plus, its pre-built Smart Portfolios and CopyTrader ™ system cater specifically to hands-off investors in search of a bit more guidance with their cryptocurrencies.
eToro is best for individuals in search of hands-off investment options, flexible investment choices, and social trading features.Coinbase, on the other hand, best suits crypto-focused traders in search of a larger selection of assets and crypto products.
eToro vs.Robinhood eToro Robinhood Min.Investment
$10
Min.Investment
$0 ($1 for fractional shares; $2,000 for Robinhood Gold)
Fees
1% when you buy or sell crypto asset; 0% stocks and ETFs
Fees
0% ($5/month Robinhood Gold subscription)
Investment choices
Cryptocurrencies, stocks, and ETFs
Investment choices
Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs
Open an account Open an account eToro USA and Robinhood were once entirely different platforms.eToro dominated in the crypto space, while Robinhood offered a combination of stocks, ETFs, options, and cryptocurrencies.
But now that eToro offers stocks and ETFs, both platforms may appeal to those who want to diversify across various investment types.eToro has a larger cryptocurrency selection, so its probably the best choice for traders who want more options to choose from.
And, speaking of options, Robinhood has a leg up on eToro by offering commission-free options trading.
Robinhood’s options also have no contract fees (many investment platforms charge $0.65 per contract).Compared to eToro, Robinhood is the better choice for experienced active traders who want lower fees and access to options trading.
Ways to invest with eToro Cryptocurrencies If you’re solely focused on exchanging cryptocurrencies, eToro USA could be right for you.It currently offers more than 25 cryptocurrencies, including bitcoin, ethereum, ethereum classic, dash, litecoin, stellar lumens, dogecoin, and much more.
The exchange also offers the option to buy bitcoin with a debit card, buy bitcoin with a bank account, securely store crypto assets with the eToro Money Wallet, or use its CopyTrader ™ system to pull from the expertise of other advanced crypto traders.
And if you’re a beginner in the crypto investing space, you’ll additionally have several educational guides to choose from.
Copy Trading Here’s how the eToro CopyTrader ™ system works: You choose a top-performing trader whose portfolio you’d like to mimic, allocate a set amount (the minimum amount you can allocate is $200) for copying the trader, and click “copy.” eToro says this allows you to mirror the trader’s investments in proportion to the amount of money you’ve allocated.
Currently, US clients can only copy other US clients’ portfolios.
Although US traders are limited to the states, you’ll have the option to simultaneously copy up to 100 other users.The minimum amount to copy another trader is $200, but the maximum amount is $2,000,000.
Finally, eToro says US investors also have access to the following four Smart Portfolios (these are portfolio management accounts eToro handles for you): CryptoEqual, CryptoPortfolio, Crypto-currency, and TheTIE-LongOnly SmartPortfolio.
While TheTIE-LongOnly SmartPortfolio has a $2,000 minimum requirement, you’ll need at least $5,000 for the CryptoEqual, CryptoPortfolio, and Crypto-currency portfolios.
Stock trading In January 2022, eToro also launched stock and ETF trading for US investors.This means that you can now manage cryptocurrencies, stocks, and ETFs under one portfolio.In addition, its available stock and ETFs are of free commissions, and traders can purchase both fractional and full shares of securities.
Note that you’ll need at least $10 to get started.
Geographic restrictions If you’re thinking of setting up an account, keep in mind that the exchange doesn’t currently support US traders in New York, Minnesota, Nevada, Northern Marianas, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, US Armed Forces (Americas), and US Armed Forces (Europe and US Virgin Islands).
Is eToro trustworthy? The Better Business Bureau has given eToro a C- rating for the following reasons: There are 74 complaints filed against the exchange, and eToro failed to resolve three complaints against it.
The BBB rates companies based on how well it believes they’ll interact with customers.Since bureau ratings range from A+ to F, eToro’s C- indicates a below-average level of customer interaction skills.
However, the BBB says its ratings don’t necessarily imply that a company will be reliable or perform well; for this reason, it’s important to conduct your own research in addition to the bureau’s results.
eToro has closed nearly 20 complaints in the last 12 months, according to BBB data.
eToro — Frequently asked questions (FAQ) Is eToro legit? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
Yes.eToro is a fully regulated platform serving traders around the world.It’s also licensed in 46 US states.
How many customers does eToro have? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
eToro has more than 25 million users across the globe.
Is eToro good for the long term? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
This depends on your investment preferences.
Whether you’re investing in cryptocurrencies, stocks, or ETFs, you can utilize the eToro exchange for both short and long-term investment strategies.
Related terms Cryptocurrency: These digital assets use blockchain technology to allow for decentralized transactions between two parties.There are thousands of cryptocurrencies available for exchange.Stocks: Stocks represent shares, or portions, of ownership within public companies.
You can purchase these investments through online brokerages, robo-advisors, and other investment platforms.NFTs: These digital assets constitute as ownership of real-world items like art, videos, real estate, and other goods.The phrase “non-fungible” is associated with these tokens since they represent interchangeable data.ETFs: These funds typically contain a diversified blend of stocks, bonds, and commodities.
They’re generally less risky than stocks because they contain a mix of different investments, as opposed to just one security.Rickie Houston, CEPF Senior Wealth-Building Reporter Rickie Houston is a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products.He is also a Certified Educator in Personal Finance (CEPF).Previously, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics.He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News.He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services » Read more Read less Top Offers From Our Partners Cash App – Send Gift Cards to Friends and Family Instantly Send gift cards to your friends and family instantly.
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Check out: Personal Finance Insider’s review of eToro.
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