eToro
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Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Overall rating
| Feature | Insider rating (out of 5) |
| Fees | 4.00 |
| Investment selection | 4.25 |
| Access | 3.80 |
| Ethics | 4.00 |
| Customer service | 4.50 |
| Overall score | 4.11 |
Is eToro right for you?
eToro USA is an online cryptocurrency exchange offering bitcoin and more than 25 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.
Yoni Assia, Ronen Assia, and David Ring founded eToro in 2007, but the company expanded its services to US investors in 2018. eToro says it has more than 25 million registered users.
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 |
| eToro USA | Coinbase |
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 currently offers more than 25 assets, while Coinbase offers well over 100 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 |
| eToro USA | Robinhood |
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 over 25 cryptocurrencies: bitcoin, ethereum, ethereum classic, dash, litecoin, bitcoin cash, stellar lumens, neo, eos, cardano, iota, tron, zcash, tezos, chainlink, uniswap, and dogecoin.
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 USA 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). See a complete list of its supported regions here.
Is eToro trustworthy?
The Better Business Bureau has given eToro USA a C- rating for the following reasons: (1) There are more than 71 complaints filed against the exchange, and (2) 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 an 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 more than 40 complaints in the last 12 months, according to BBB data.
eToro — Frequently asked questions (FAQ)
Is eToro legit?
Yes. eToro is a fully regulated platform serving traders around the world. It's also licensed in 46 US states (see its complete list of supported regions here).
How many customers does eToro have?
eToro has more than 25 million users across the globe.
Is eToro good for the long term?
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.