eToro UK review 2024

How we rated eToro's investment features

What is eToro?

eToro is a multi-asset platform where you can invest commission-free on both UK and international stocks, which is why we’ve given it a top rating for fees. However, nothing in this world is completely free, there are some charges, as we highlight in our fees section.

We’ve tried out the app and rates the key aspects of it that investors care about. We’ve named it our best trading app for 0% commission on stocks. The platform is well-known for its social features, like the News Feed and CopyTrader features, which lets you see what other traders are doing, and you guessed it, copy them.

We’ve explained the copy trading feature in a bit more detail below. Bear in mind, you’re not guaranteed to make any profits, and your money is at risk when you invest.

Our experts have analysed and rated the key features of eToro, and we explain what you can invest in through the platform.

Expert test: I tried out eToro's investing platform

George Sweeney

Deputy editor

There's a lot packed into eToro and I found it took slightly longer than some other beginner-friendly platforms to find my way around. But once I got my bearings, it was dead easy to navigate, make an investment and view my portfolio insights (only slight annoyance is having everything in USD). Zero commission on real stocks combined with all the excellent social features (like CopyTrader) makes eToro a unique and affordable place to invest.

eToro fees

eToro trading fees calculator

Pick a stock, select a quantity and our calculator will give you a guide to the total cost of that trade on eToro. We regularly check fees, but bear in mind that stock prices, exchange rates and spreads fluctuate in real-time.

Stock

Quantity of shares

Platform	Finder Score	Account fee	Min. initial deposit	Trade cost	Link
	4.3 ★★★★★	£0	$100	£1,419.31	Go to siteCapital at risk

Full comparison of share dealing platforms

eToro’s low fees are one of the main reasons it’s so popular. You pay no commission on stock trades, which is ideal for those on a budget or if you plan to invest regularly.

Although there are no commissions to pay for stocks, eToro has a few fees you should be aware of. Unlike most platforms, there is a withdrawal fee of $5. Another unusual charge is the inactivity fee, which is $10 a month if you don’t login for over a year.

Like other trading apps, there is a foreign exchange (FX) fee. Unfortunately, it’s a steep 1.5%. You can avoid this with eToro’s “Diamond” club, or get 50% off if you qualify for the “Platinum” club tiers.

If you decide to delve into other forms of trading (outside regular stocks) with assets like cryptocurrenices, there are various additional fees.

So, although the eToro platform provides excellent investing value for most stock traders and investors, it’s still worth making sure you’re aware of all the potential fees involved. Zero commission doesn’t doesn’t apply to any leveraged trades, shorts, or stock CFDs.

There’s also a minimum deposit amount of $100 for your first deposit to keep in mind.

eToro investment choice and stocks

We’ve rated eToro highly for investment choice because it lets you invest in over 3,000 different global stocks from the world’s biggest stock exchanges. This means you can invest in major firms like Apple, Netflix, Alphabet, easyJet, Tesla, Airbus and Adidas.

eToro has helpfully organised its stocks by industry (such as technology, healthcare, and consumer goods) which is handy for discovering new stocks. You can also search by stock exchange if you know where the shares are listed. Once you’ve done this, you can begin to sort the stocks by performance or in alphabetical order.

Along with individual stocks, eToro also has a decent range of exchange-traded funds (ETFs) available, along with pre-made “Smart Portfolios” which give you a ready-made portfolio designed by analysts at eToro. As a multi-asset platform, you’re not just limited to stocks.

Keep in mind your first initial deposit needs to be at least $100, but after that you can deposit $10 or more. You can buy fractional shares with eToro but the trade needs to be at least $10 in value.

Is eToro safe?

eToro is regulated by the Financial Conduct Authority (FCA) in the UK. So you can rest assured that the organisation is properly overseen.

It also offers full Financial Services Compensation Scheme (FSCS) protection. So deposits of up to £85,000 are protected if eToro was to go bust.

The eToro mobile and desktop apps also come with added security like two-factor authentication and biometric logins. The only flaw with eToro is that because it’s still a private company, we can’t dig into full financial details to truly understand the business.

eToro account types and products

eToro’s main drawback is that you can only invest in a general investment account – it doesn’t have a pension (like a SIPP) or stocks and shares ISA.

eToro does offer corporate accounts and if you have a high cash balance, you can also earn various levels of interest, here’s how the brackets look:

• 2% ($10,000+)
• 2.4% ($25,000+)
• 5% ($50,000+)
• 5.3% ($250,000+)

The most similar provider that also has an ISA is Trading 212. We’ve compared eToro and Trading 212 side by side below.

eToro ease of use

The eToro platform scores well in our ease of use assessment with generally positive reviews for the app, and it also offers a desktop platform if you don’t want to invest using your phone.

There are 3 ways you can get hold of the eToro customer service team if you have any issues. Also, when using the eToro platform for ourselves, we found the overall user interface and user experience to work well for an enjoyable investing experience.

Over at the App Store, the eToro app has 4.3 out of 5 stars based on more than 8,000 reviews. On Google Play, the eToro app has 4.1 out of 5 stars based on more than 130,000 reviews (as of February 2024).

eToro customer reviews

In our 2024 customer satisfaction survey, 93% of eToro customers said they’d recommend the platform. Several mentioned the Copy Trader function, which allows users to track and copy the trades of others.

One customer said: “eToro is easy to use for many different asset classes and they also have Copy Trader.”

Another commented: “The platform is easy to use and has fair fees. It’s safe, secure and reliable.”

On consumer review platform Trustpilot, eToro has 4.3 out of 5 stars and a rating of “excellent”, based on more than 22,000 reviews (as of February 2024).

Case study: Ivana joined eToro after seeing lots of adverts and wanting to try investing for herself

Ivana Mensah

London

I chose eToro because I kept seeing adverts and thought why not. I used it to dip my toes in and invest in a few different companies and then I’ve just left it, looking to go back in 10 years and hoping it’s grown.

It was user-friendly, which was good. Surprisingly good that it was so user friendly. I think for people who have no idea what they’re doing it kind of shows you what you’re supposed to do.

If there's one tip you'd tell a friend who's thinking of using an investment app like eToro, what would it be?

Just do it. But only put in the smallest amount if that’s what you can afford.

What's it like to use eToro?

1. Getting started

Sign up or just explore the site to copy other traders. Read tips from users and more.

2. Crypto

Browse the marketplace to find trading info, filter, and set up alerts and more via your account.

3. Copy traders

Search for other traders and see what they're doing. Filter results and join the community.

4. Browse traders

See what the most (or least) successful traders are doing with their portfolios, and how, on eToro.

‹ ›

eToro tools, resources and features

eToro’s got an array of trading tools that can help you, including interactive and advanced charting tools. You can also use different trading order types like stop loss and trailing stop to have more control over your trades.

When it comes to research, there’s plenty of research on stocks and exchange-traded funds (ETFs) along with the latest news and company announcements. You can also create watch lists and get tips from other traders with the News Feed and social trading features.

eToro also has a virtual portfolio, which is a demo account that lets you trade up to the value of $100,000 to practise. This is ideal for new investors who want to do a dummy run before using real money.

eToro review: What else do I need to know?

eToro lets you trade stocks, exchange-traded funds (ETFs), contracts for difference (CFDs), commodities, and currencies. As well as low-cost investing, eToro also offers pre-made “Smart Portfolios” and a CopyTrader service, which lets users automatically copy and execute other investor’s trades.

What is copy trading?

eToro is the leading social trading platform because of its “CopyTrader” feature. The social features mean you can connect with others to share your investment strategies and discuss trades. You can also copy other traders’ actions in real-time. This is a nice way of getting the hang of how it works and utilising knowledge and experience from successful investors.

The platform allows you to filter the different traders that you can copy by plenty of metrics like the risk score, how many people already copy them, number of profitable weeks they’ve had, and where they’re located. It also has “trending” traders and “top investors”.

The platform lets you see the users’ average risk score and gains in the last year. Of course, as always, past performance is not an indication of future results.

eToro CFD trading

If you’re more of an advanced trader, eToro allows you to trade contracts for difference (CFDs). These allow you to trade on market volatility without ever having to own the underlying asset. Great if you don’t want a truck full of soybeans rocking up on your doorstep.
Features of eToro’s CFD trading platform include:

• Customised risk management. “Trailing Stop Loss” and “Take Profit” can help you protect your investments.
• Analysis tools. Includes charts, analyst consensus and insider transactions.
• Innovative features. These include One-Click Trading, real-time alerts and interactive newsfeeds.
• Leverage. You can apply for up to 1:30 leverage.

What are the eToro Club tiers?

The eToro Club is a tiered membership program that you can add to your eToro account, based on the amount of realised equity you have on the platform. It offers a range of perks including fee discounts, analytical tools and access to events.

You can get additional benefits and features with each upgrade in the eToro Club. The tiers are:

• Silver – $5,000+
• Gold – $10,000+
• Platinum – $25,000+
• Platinum+ – $50,000+
• Diamond – $250,000+

What is eToro Money?

eToro Money is available to all eToro members, with an added benefit of a Visa debit card for eToro Club members (explained above). This lets you deposit and withdraw money from your account. Those with a Visa card can do so with their card, with no setup costs or monthly feed. Those who aren’t eToro Club members get a sort code and account number, which lets you send and receive funds into and out of your eToro account without any conversion fees.

How to sign up to eToro

It takes 30 seconds to create your investing account via the eToro website, but you’ll then need to complete your profile and verify your account. This can take 10-15 minutes.

1. Create an account. This doesn’t take long. You just need to choose a username and enter your email address and a password.
2. Provide more information. You’ll need to select “complete your profile” to enter this. We’ve listed some of the things eToro will ask for below.
3. Answer some questions. These will be about your experience of trading in the past, including equities, and leveraged products.
4. Tell eToro what you plan to trade and for how long. You can choose between all the options available.
5. Give an indication of your future plans. This includes information about what you’re investing for and your expected risk and reward scenario.
6. Provide a photo of your ID. You’ll have to provide a copy of your passport or ID card and a utility bill or bank statement.

You’ll need to provide:

• Your name
• Your date of birth
• Your address
• Your national insurance number
• Whether you are a US citizen
• Information about your income
• Your phone number and email

It can take up to 3 business days for your account to be verified.

How to use eToro

Once you’ve been verified, you can deposit funds and start trading. With the free account, you can access many of the regular eToro features like CopyPortfolio, virtual trading and TipRanks expert stock analysis.

You can add and remove stocks or ETFs to your watchlist, and also track your portfolio.

However, when using the platform, keep in mind that only basic stock orders are commission-free. It can be quite easy to get carried away and start dabbling in other types of assets, but these will attract trading fees and may hold more risk.

Can you vote at AGMs with eToro

eToro has partnered with Broadridge Financial Solutions to enable proxy voting. This means that as a shareholder — even of fractional shares — you can participate in annual general meetings (AGMs) by casting votes.

Votes are aggregated and shared with the company.

eToro vs Trading 212

Finder score	★★★★★	★★★★★
Customer satisfaction survey	★★★★★	★★★★★
Stocks and shares ISA available?
FSCS protected?
Costs score	★★★★★	★★★★★
Keep in mind	Capital at risk. 51% of retail CFD accounts lose money	Capital at risk. 78% of retail CFD accounts lose money
	Go to site More Info	More Info

We’ve also got a detailed comparison between eToro and Trading 212 if you want to know more. We’ve also compared eToro against IG