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One of the oldest CFD brokers, eToro is also the leader in copy trading. This trading technique allows you to choose a successful trader and automatically copy all of their trading positions and strategies to your own account. No need to be an active trader to earn money!. Also, eToro has developed new trading solutions and a platform dedicated to Crypto traders only.

With eToro you benefit from a large community of traders. The latter allows you to constantly improve your trading knowledge. By being a member of the eToro Club you will also benefit from numerous advantages and privileges such as credit lines, market analyzes, trading signals and even free entries for sporting or financial events.

eToro - General Information

Founded in 2006, eToro is a leading CFD broker in the social trading and copy trading industry.

Through its large community, eToro is an important player in social trading. Indeed, its users share information on the markets they trade and their forecasts with other traders who can learn from them.

Most importantly, eToro allows its traders to do copy trading. This trading strategy automatically replicates the trading positions of a selected investor to one (or more) other trading account (s).

eToro offers this type of trading for all investors who wish to profit from the financial markets without having in-depth knowledge or a lot of time. Copy trading is also an automated trading strategy for those who want to trade 24 hours a day automatically.

Based in Cyprus, eToro is a company authorized and regulated by the CySEC or Cyprus Securities and Exchange Commission (license number 109/10).

With more than 5 million users in more than 140 different countries, eToro offers its traders to invest in a variety of markets: commodities, indices, stocks, currencies and of course cryptocurrencies.

Its product offering on cryptocurrencies dates back to 2013 with the first CFDs on Bitcoin. Since mid-2018, eToro has had a branch in the United States that offers cryptocurrency trading to American traders.

This broker allows investors to be able to earn money in the cryptocurrency market by taking advantage of price volatility.

Indeed, the products offered by the broker are CFDs on cryptocurrencies. A CFD (Contract For Difference) does not allow you to hold the underlying asset to which it relates. It simply allows you to exchange the difference in value between the opening and closing price of a contract with your broker.

eToro - Advantages and Disadvantages

Pros

• Former broker with a solid reputation.
• Regulated broker in Cyprus (CySEC) and also in the United Kingdom (FCA): authorized to offer its services in Europe via eToro Europe Limited
• Wide range of CFDs: more than 1,400 instruments via 6 asset classes (Forex, Cryptocurrencies, Indices, Shares, Commodities, ETFs).
• Several payment and withdrawal methods available: Card (Visa, MasterCard, Diner’s Club), bank transfer, GiroPay, PayPal, China Union, Yandex, Webmoney, Skrill, and Neteller.
• Different choices of copy trading strategies available.
• Large community of traders
• Possibility to start trading with little capital (~ $ 200).
• Important training section: Trading Academy.

Cons

• Only one account currency: USD.
• Only about 15 cryptocurrencies available to trade.

eToro - Regulations

In addition to being regulated in Europe by CySEC, this CFD broker is also authorized and regulated in other parts of the world through various branches.

For example, eToro (UK) is a company authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

eToro AUS is the eToro group company which is authorized by the Australian Securities and Investments Commission (ASIC) in Australia.

eToro is not regulated in USA.

eToro - Fees, Commissions and Payment Methods

Although the main currency of any trading account at eToro is the USD, you can fund your account with other currencies depending on your country. However, all currencies other than USD will be converted to USD since it is the only account currency available.

For US customers, eToro US only accepts online banking transactions or bank transfers. Everywhere else in the world, customers can use different means of payment:

• bank transfers,
• credit cards,
• electronic wallets

The minimum deposit is $ 200. This changes depending on your country of residence and the method of payment used. For example, if you wish to fund your account by bank transfer, the minimum deposit is $ 500.

For withdrawals, eToro generally charges a commission of $ 25 with a minimum withdrawal of $ 50.

The company does not charge any deposit fees based on currency.

eToro does not charge trading fees, there are however custody fees (overnight rollover - overnight for CFD positions).

Conclusion

Offering CFD trading on the most important cryptocurrencies while offering innovative trading services such as copy trading, eToro is an ideal choice for those who wish to invest in cryptocurrencies. In addition, its wide range of financial assets allows investors to be able to invest in CFDs on different asset classes in a single trading platform.

eToro is also developing its catalog related to cryptocurrencies by constantly adding new Cryptocurrencies. More than that, the broker has developed its own trading and wallet platform for cryptocurrencies (eToroX).

Warning

CFDs are complex instruments and have a high risk of losing money quickly due to leverage. I found out that around 66% of retail investor accounts lose money by trading CFDs with this provider. You need to know if you understand how CFDs work and if you can afford to lose your money before using this platform.

Note:

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