Check out our full list of pros and cons or read on.
1
Fiat currencies
25
Cryptocurrencies
| Product Name | eToro USA LLC Cryptocurrency Trading |
|---|---|
| Fiat Currencies | USD |
| Cryptocurrencies | BTC, ETH, BCH, XLM, DASH, LTC, ADA, ETC, NEO, EOS & 10+ more |
| Deposit Methods |
Wire transfer Online banking |
| Trading Fee | Fees vary |
| Deposit Fees | None. Minimum deposit amount is $50. |
| Withdrawal Fees | None. Minimum withdrawal amount is $50. |
Launched in 2007, eToro is best known as a social trading platform that caters to traders of all experience levels. It encourages users to seek advice from each other and offers the CopyTrader service, which lets users copy the trades of leading investors.
In the US it only offers access to cryptocurrency trading, unlike other regions where the platform offers access to other investments such as stocks and commodities.
eToro supports a wide range of payment methods bank transfer, including credit/debit card, PayPal and wire transfer. Available methods depend on the currency you are transferring and will be shown to you on the deposits page once you select your currency.
If you visit the eToro site in the US, you’ll automatically go to the eToro USA site, which is the site we’re reviewing here. It has fewer features than the company’s global platform, but it abides by US laws and is accessible to US residents.
If you’re not a US resident and you’re looking for information on how eToro works in other countries, read our review of eToro’s global exchange.
The fees below are accurate as of July, 2021.
For a full breakdown of fees, please see eToro’s website.
At the time of writing (July 2021), eToro charges a 0.75% spread on Bitcoin (BTC) purchases.
This equates to a fee of US $7.5 for the purchase of US $1000 of Bitcoin.
CopyTrading allows you to copy the trades of other users on the platform.
You are only able to copy traders who have been verified by eToro and given special account status. CopyTrading is automated, which means once you begin copying another trader the system will follow and copy their trades on your behalf until you close the trade.
In addition to CopyTrading, eToro also offers a social media platform that lets you interact with other traders. You can also see what trades other users have made.
For more information on CopyTrading, visit the eToro website.
eToro uses a ticket based customer service. This is essentially like sending an email and waiting for a reply.
Additionally, there is a Help Center that includes frequently asked questions and educational articles on how to use the platform.
eToro Club members have access to a live chat service.
eToro is an international company with registered offices in Limassol (Cyprus) and London (UK). The eToro Group also has offices in Tel Aviv, New Jersey, Sydney and Shanghai. It’s best known for coining the “copy trade” feature, where users can copy other people’s trades.
eToro is a unique platform that is designed to make trading a more social activity, allowing new users to hone their skills by learning from other traders or even copying their exact trades using the CopyTrader feature.
As for cryptocurrency in particular, eToro is not an exchange so prices and fees may be less competitive than specialised cryptocurrency exchanges. Cryptocurrency can only be withdrawn to the eToro Money crypto wallet, which means an extra step (and extra fees) if you want to withdraw your funds to a personal wallet or exchange.
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eToro USA LLC Cryptocurrency Trading
