Is eToro a Scam? Important Review Facts! Don’t Miss..

Is eToro a Scam?

eToro claims to help you access top CryptoCurrencies and copy top performing Traders with ease if you join their trading platform. But can you trust these guy with your hard-earned money? Is eToro a Scam? You will find all important review about this trading platform in this very detailed blog post.

eToro Home Page

Hold on your horses, a new trading platform with an accustomed name is now available in the United States. I’ll tell you much about this investment platform in this honest and detailed eToro review.

Nowadays, most things from saving money to sending money have gone social and app-based, so why not trading?

More and more online trading platforms are looking forward to making it easier and comfortable for ordinary investors. Indeed, one of the leading apps on this platform is eToro.

Generally, this trading platform began over a decade ago, intending to advance trading so that ordinary investors could get into the game.

Today, it provides a reliable array of tools and a fantastic interface for investors interested in performing their personal trading. Besides, it provides a social trading platform, which is an exciting twist on traditional trading.

The company started as a standard trading platform, but it has incorporated cryptocurrencies and several other trading instruments to keep up with the ever-changing market and demands.

eToro is one of the inventors in incorporating social features to its platform in the form of CopyPortfolios and CopyTrading.

More than 10 million users are registered on eToro, making it one of the best in the industry. Read on to find out more about this innovative trading platform, especially about how it works, how to make money with it, and whether it’s really worth your investment.

Is eToro a Scam? A Quick RevieweToro Home Page

Name: eToro


Owners: Yoni Assia, Ronen Assia and David Ring

Price: Free to Join

Summary: eToro isn’t a Scam. They are regulated by the FCA (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission). It is secure and safe, and the firm utilizes the latest SSL encryption to encrypt all data on the platform.
You get a round the clock support via live chat, emails and phone. However, the downside is that there is a sharp learning curve. So, I would say the platform is great but there is no guarantee if you are going to make a killing trades.

Overall Scam Rank: 8.0 Out of 10

Recommended: Not Really, Trading is Risky

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Table of Content

What is eToro?

How Does eToro Work?

How to Make Money with eToro?

eToro Ugly Truths Revealed!

What I Like about eToro

Is eToro a Scam?

How I Make a Living Online

What is eToro?

Merely put, eToro is a social trading and multi-asset brokerage company with registered offices in Israel, China, Cyprus and the United Kingdom. eToro’s online trading platform offers both social trading and manual trading features.

With the social trading features, you’ll have an easy time keeping a close eye on other customers’ financial trading activities and ultimately use eToro’s CopyTrader system to duplicate everything that these clients perform in real-time.

To make this process a success, the eToro platform functions in full transparency, exhibiting every customer’s relevant data, like risk score, gain percentage and portfolio composition.

When it comes to the manual traders, eToro offers a wide selection of currencies, stocks, cryptocurrencies, commodities, indices and ETFs (exchange-traded funds) via its personal inventive trading platform.

As a trader, you can use eToro’s unique tools and analysis to crack and invest in multiple financial instruments.

The best thing about eToro is that it has invented a cutting-edge investment instrument known as CopyPortfolios.

Generally, CopyPortfolios are ready-made investment portfolios that come with either multiple financial assets or top traders from the platform, and they follow a predetermined market strategy.

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A Short History of eToro

eToro came into existence in 2007. Three investors started this platform to make it easy for the everyday trader to engage in trading.

At the time, the investors wanted to lower the reliance on banks and several other financial institutions. The platform started as an online trading platform with an intuitive interface and graphs to represent financial instruments.

In 2009, eToro started WebTrader, a popular trading platform with a wide range of professional tools for traders of all skill levels.

A great invention came into existence in 2011 when the company introduced a social trading platform into the trading world – CopyTrader feature.

The innovation didn’t stop here as they included stocks into their other assets, such as commodities and currencies, in 2012.

To further reach a broader trading market, eToro launched a mobile application for both iOS and Android devices in 2013.

In the same year, eToro jumped into crypto trading, making it relatively easy to trade Bitcoins through CFDs (contract for differences).

In 2016, it included CopyPortfolio – a managed portfolio which gathers several assets or top traders within a marketing strategy.

In 2019, the trading platform expanded its global cryptocurrency presence by making it easy to trade with cryptocurrencies on the platform.

It started with a wide range of popular cryptocurrencies, such as Litecoin, Ethereum and XRP. In 2019, it launched eToro X – complete crypto to crypto exchange.

How Does eToro Work

As with other trading platforms, you need to sign up on eToro before you start using it. So, you’ll have to register for an account with all the usual info.

Afterward, you’ll have to verify your account via a phone number, proof of residence and a government-issued ID. After successful account verification, you can start trading in cryptocurrencies on eToro straightaway.

You can use a domestic wire transfer or electronic transfer from an online bank to deposit money into your trading account. eToro has plans in place to expand its funding options. All in all, you can agree that online banking is a simple way to fund your account.

The platform’s minimum investment for the online banking transfer is set at $50 for your first deposit, as well as any other deposit you make in the future.

The minimum amount to fund your account through wire transfer is $500. Furthermore, the maximum amount you can transact into your eToro account in a single day is $10,000.

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Fees, Spreads, Margins and Reserve Liability

You can get a list of all relevant spreads and fees on eToro’s homepage. For instance, you can start trading stocks at 9 pips and currencies at 3 pips. Note, while there are no fees for opening a position, you’ll have to pay it while closing.

It’s worth noting that the minimum value for a position is roughly 1,000 units of currency. The platform handles the safety margin differently, but it stays within the typical expectations.

Generally, CFD trading is linked to a reserve liability. Well, this means that if the deposited margin is inadequate in case of a loss, eToro may require you to settle the trading account.

Thus, it would be wise for you to cautiously use this option if volatile events lead to harsh market vacillations.

Unquestionably, your eToro may decide to reset your account back to zero. Nevertheless, if you act irresponsibly, eToro may stand-in its right to reserve liability.

Essential Features: Take Profit and Stop Loss

In order to lower risks, traders at eToro may opt to use the following features:

Take Profit – Basically, this feature increases safety and security. As a trader, you can choose a specific amount of money you’ll earn throughout a trade. As soon as you reach this value, the system automatically closes the position.

Stop Loss – you only get a stop-loss-order during a sale. As soon as you reach or exceed a predetermined value, the platform automatically initiates a sale.

How to Make Money with eToro?

It’s indeed probable to make money with eToro. At the time of writing this review, eToro denoted that more than 25% of their retail investor accounts were making some good money when trading on CFDs according to regulatory requirements.

Well, when you get into eToro’s main dashboard, you’ll see personal info on the left-hand side. In the middle of the screen, you’ll see the various markets which you can trade with. From here, you’ll see multiple currencies and other commodities.

You’ll even see various cryptocurrencies, like Bitcoin and other individual stocks. Here, you’ll come across a wide variety of assets. If you reside in the US like me, the platform will give you some US stock suggestions.

The best thing about eToro is that it gives you stock suggestions as per your location.

If you have got customized trading approaches that you want to try, eToro gives you this capability. Else, if you only want to open a trade on a single market, you only need to click ‘trade,’ and you’ll effortlessly enter that trade after speedily inputting bits of the required info.

When opening up individual markets, you’ll recognize what is happening with the social trading aspect.

Merely put, it’s quite similar to Facebook or Twitter feed, where you can see what other traders are saying about this particular feed in real-time.

Provided you have sufficient funds in your account, you could have a look at specific traders and assess their statistics to find out whether they’re doing something valuable.

Besides, you can check at their trading history and their platform so that you get an extra understanding of the type of trading that’s performing excellently.

For traders on cryptocurrencies, for example, you can get colossal info about them. With a single click, you can trade with Bitcoin and then assign a specific percentage of your total portfolio to that trader.

For example, if you have got $2,000 in your eToro account and need to copy four different traders, you can place $500 into every trader’s pot. Whatever trade they initiate, it will be executed into your account.

Whenever they make money, you also make money. Subsequently, if they lose money, you also lose.

You could copy as many or as few as you want. Indeed, there’s no limit on the number of traders that you can copy. But perhaps it would be essential for you to copy more than one trader to avoid the chances of placing all funds in a single basket.

eToro Ugly Truths Revealed!

  • Although eToro doesn’t charge explicit commissions, some trades are executed with exact spreads that vary from coin to coin. Well, some of these spreads are pretty extensive, with the tightest being Bitcoin at 0.75% while the wildest is Tezos at 5%.
  • Even though you can easily follow the leading traders’ transactions, you’ll need to possess a higher balance to copy their trades. Generally, most of them require a minimum of $200 for every copied trade.
  • The lowest purchase for any cryptocurrency is $25, and this makes it somewhat difficult for the smaller accounts to spread their balances over more than a small number of coins.
  • US residents can only open cash accounts.
  • If you’re inactive for a year, you have to pay an inactivity fee of $10 to have your account back.
  • While there’re no applicable withdrawal fees if you live in the US, you’ll have to withdraw a minimum of $30.

What I Like About eToro

  • eToro is regulated by the FCA (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission).
  • eToro is secure and safe, and the firm utilizes the latest SSL encryption to encrypt all data on the platform.
  • eToro offers round the clock support via live chat, emails and phone.
  • The platform boasts the newest technology and design.
  • eToro notifies its customers about potential risks.
  •  The social trading feature

Is eToro a Scam?

I’ve tried and tasted eToro and withdrawn money without any real problems. So, in my opinion, eToro is not a scam. Nevertheless, it doesn’t mean that there’s no significant risk associated with the platform. In my case, I’ve no problems when it comes to depositing and withdrawing funds from the platform.

The inherent risk of trading with forex and the traders you would be copying tactics from creates high risks on eToro. Also, most of these markets are absolutely high risks.

So, while eToro is safe and reliable, it does not mean that the assets you use to trade are safe. Therefore, the likelihood of losing all your investment is very much possible.

At the end of the day, eToro is a top-rated brokerage firm that has transformed how retail customers trade in the financial markets. The innovative yet simple approach taken by eToro has lured both experienced and beginner traders to the platform.

Fortunately, eToro can pay the skilled traders to let amateurs to follow their trades. Well, this is a win-win scenario since beginners can follow proven tactics to make their money.

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How I Make a Living Online

It has never been easier to make a living online via affiliate marketing than it is currently. If you like working from home or any place you find fit, if you need to try something new, if you need to be your own boss, if you want to learn a little to attain more, then this section is undoubtedly for you. So, if you want to make a decent living online, you need to join affiliate marketing.

Well, the essential thing for you to do to become a successful entrepreneur is to claim a niche market. You do not have to rehash the same info over and over again. Instead, attempt to introduce new things into the area.

So, put together a series of videos, an ebook, software, etc. Determine whether you want to sell all the things individually or provide everything in a single database, for which you can charge users to gain access.

After everything starts to run smoothly, look for niche partners and have them help you promote the products.

If you are an amateur in the market, you’ll truly need to impress your potential affiliates if you need them to assist you. It would help if you genuinely gave them a valid reason to want to become your affiliates or partners.

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Overall Quality



  • Secure and Safe Platform
  • Offers Round the Clock Support
  • Social Trading


  • They Don't Charge Explicit Commission
  • Need to Posses a Highter Balance to Copy the Traders
  • U.S Residents Can Only Open Cash Accounts

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