Etoro Review 2024: Pros, Cons, and More

eToro is an excellent cryptocurrency broker with an extremely easy-to-use platform that’s perfect for beginner investors as well as experienced traders. Get started for as little as $10 and mirror select traders with successful track records or invest crypto on your own.

Full review of eToro, its pros and cons, and my recommendation below!

**The article applies only to US users and not for global users.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

What is eToro?

eToro is a popular brokerage that serves users in 100+ countries. The company has recently expanded to the U.S. and offers investors here access to over 17 cryptocurrencies.

What’s unique about eToro is their focus on ‘social trading’ – there’s a social media platform that allows Etoro users to interact with one another, and even copy successful traders move-for-move automatically.

This makes it a great place for new and avid crypto investors to discuss investments and learn. It’s sort of like Reddit, but with a laser focus on crypto trading.

New to eToro? Sign up with the link below and you’ll get a $10 bitcoin bonus for depositing $100 or more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC
insured. Investing involves risk.

There has been other eToro promotions in the past, but this is currently the only one available.

eToro Account Overview

eToro is one of my go-to cryptocurrency brokerage accounts. I signed up to the popular platform as soon as it became available in the United States.

Opening an eToro account is free and only requires a minimum deposit of $10, which can be deposited through methods like online banking, credit or debit card, wire transfers, and even PayPal.

Once you fund your account, you’ll immediately gain access to buy, store, receive, exchange, or convert more than 500 currency pairs, including popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, and Shiba Inu.

It also offers the ability to trade over 18 different cryptocurrencies, including:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Bitcoin Cash
  • Ethereum Classic
  • Dash
  • Stellar Lumens
  • NEO
  • EOS
  • Cardano
  • IOTA
  • Zcash
  • Tezos
  • Dogecoin
  • Uniswap
  • Chainlink

Pros

  • Safe, secure, and regulated cryptocurrency broker
  • Crypto staking allows you to earn interest on your crypto
  • eToro Money crypto wallet to store your crypto safely
  • CopyTrader – automatically copy trades move-for-move of top-performing investors
  • CopyPortfolio – invest in ready-made crypto portfolios to diversify your holdings and spread out risks
  • Social Media Platform – interact with fellow eToro traders
  • Fee-free deposits using online banking, credit/debit cards, wire tranfers, and PayPal
  • 17+ cryptocurrencies available on the platform
  • Demo account to practice your crypto trading skills with $100,000 of free virtual money
  • Mobile app for Android and iOS

Cons

  • U.S. Restrictions – U.S.-based customers can’t trade other assets outside of crypto (e.g. stocks, EFTs, and forex)
  • Live Chat is only available for eToro Club members, a loyalty program that requires at least $5,000 in your account

eToro Account Fees

For U.S. users, eToro is very competitive in terms of fees it charges:

  • Deposit Fees: None, deposits are free for U.S. residents
  • Withdrawal Fees: None, withdrawals are free for U.S. residents
  • Management Fees: None
  • Inactivity Fee: eToro will charge $10 a month after 12 months of no login activity
  • CopyTrader Fee: No additional costs
  • CopyPortfolio Fee: No additional costs
  • Transfer Fees: Transferring cryptocurrency out of eToro will be assessed a fee of 0.5%, with a minimum fee of $1 and a maximum fee of $50
  • Trading Fees: Trading fees are included in the spread, which is 1.00% for all crypto.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC
insured. Investing involves risk.

The Bottom Line

eToro is one of my favorite cryptocurrency brokerages with an easy-to-use platform that beginners will pick up quickly and veteran traders appreciate for its simplicity.

For investors who are new to cryptocurrency, they love the fact that there’s a community eager to help each other out and learn from one another. When it comes to investing, many find the CopyTrader and CopyPortfolio features an excellent way to dip their toes in the water with the help of experts.

And if you’re not comfortable investing real money just yet, the Demo account gives you $100,000 worth of virtual money to play with.

eToro is right for you if:

  • You want a place to buy and sell a good selection of cryptocurrencies, with a straightforward fee schedule.
  • You enjoy social trading and want the ability to copy the moves of profitable traders who have strong track records of outperformance.

Other top cryptocurrency platforms I recommend and personally use are Coinbase and Gemini. Both have new user incentives as well, with Coinbase offering up to a $200 sign-up bonus while Gemini is providing $15 in a crypto of your choice.

Crypto PlatformPromotionLink
Coinbase logo$200 BTC BonusLink
Kraken logo$10 BTC BonusLink
eToro logo$10 BonusLink
Gemini logo$15 BTC BonusLink
TradeStation logoUp to $5,000 BonusLink
bitFlyer logo$15 BTCLink
Nexo logo$25 BTC BonusLink
Crypto.com logo$25 CRO BonusLink
Cake Defi logo$10 DFI BonusLink
Phemex logo$160 BonusLink
Binance.US logo$40 Cash BonusLink
Luno logo$35 BTC BonusLink
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC
insured. Investing involves risk.

Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. TheMoneyNinja.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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