eToro Review 2024: Pros & Cons

By Gaurav Kudekar

Published on:

eToro Review

eToro Review 2024: eToro has a website where you can trade over 30 different cryptocurrencies. They also have a platform where you can buy and sell a few different stocks and investment funds online. People who like trading with others might like eToro because it has a social aspect and a lot of active users. But if you’re just looking for a cheap way to trade cryptocurrencies, eToro might not be the best choice because their fees are high.

Who is eToro good for?

If you’re new to cryptocurrency and want to learn by actually doing it, eToro could be a good place for you. On eToro, you can connect with other users and get involved in discussions about different coins. It’s a great way to get started in the world of crypto.

What Makes eToro a Good Choice

At eToro, copying others’ investing strategies is seen as a form of flattery. You can mimic the tactics of successful crypto traders on the platform and even get rewarded if others copy your strategies. These features might interest experienced crypto traders who can earn rewards of up to 2% of their average balance for gaining followers on the platform.

eToro’s Disadvantages

If you’re not new to trading and don’t aim to be a big name in crypto, but just want cheap fees or more investment options beyond crypto, eToro might not be the best pick for you.

You can find cheaper crypto trading elsewhere. Look at Forbes Advisor’s list of top crypto exchanges. And if you want a brokerage account with lots of features, check out our list of the best online brokers.

eToro Features

eToro started in Israel in 2007 and has grown to serve many countries around the world over the last fifteen years. The platform has different features depending on the country. In the U.S., some options available in other countries are not supported.

Similar to other cryptocurrency exchanges, people living in the United States can create an eToro account, but some features aren’t accessible in every state. For example, crypto trading isn’t possible in New York, Nevada, Hawaii, and Minnesota.


Cryptocurrency exchanges like Coinbase and Gemini often have confusing pricing, especially for new users. But eToro stands out because it clearly shows the fees you’ll pay when you trade crypto. For each trade on eToro, users pay a flat fee of 1%.

Even though eToro is clear about its fees, its pricing method is different. Most exchanges charge fees when you buy or sell cryptocurrency. But on eToro, you pay upfront for both buying and selling. So, you pay 1% when you buy and another 1% when you sell. eToro says your profit or loss will change instantly with market prices.

If you decide to leave your cryptocurrency purchases on eToro and never move them elsewhere, the difference might not matter much. However, if you transfer your coins to a different crypto wallet, you won’t be able to bring them back to eToro. This means you’ll lose the return spread fee.


Cash assets are kept in bank accounts insured by the Federal Deposit Insurance Corp. (FDIC) for amounts up to $250,000.

Crypto security measures involve storing coins both online and offline, using two-factor authentication, and employing advanced monitoring tools. Additionally, no eToro staff member is able to move users’ crypto assets out of storage.

Opening an eToro Account

Creating an eToro account is easy. Just go to the eToro website. Then, pick a username, put in your email, and choose a password. You can also use your Facebook or Google account to sign up.

After that, agree to eToro’s rules and policies. You’ll get an email from eToro to confirm your email. No extra steps needed to open your eToro account.

Cryptocurrencies Available on eToro

The eToro platform lets you trade over 30 cryptocurrencies in the U.S. and nearly 80 worldwide. It has the basics for new crypto users, but advanced users might find it doesn’t include all the niche coins they’re looking for.

What eToro Can Do to Improve

Lower Fees

Even though eToro shows its fees clearly and they’re fair, they’re still more expensive than a lot of other top crypto exchange platforms.

The complex fee system means users pay more at the start, which is good if your investment goes up. But eToro might be able to help its customers more by lowering its fees.

More Coin Options

EToro has a problem because there aren’t many different types of cryptocurrencies available, especially in the United States.

Even though they have some popular ones, they’re missing out on others like Solana (SOL). If they add more coins to their U.S. options, it could make their platform much more valuable.

Better Customer Service

Users can only reach out to eToro customer service through a help ticket or online chat. If you’re not at Platinum level or higher, your equity holdings decide your platform access. There’s no phone number available to call.


We checked out nearly 25 platforms that let you trade cryptocurrencies to see which ones are the best. We looked at everything they offer to rank them overall and for beginners. Our team used a set method to analyze 10 important factors to judge the quality of each platform.

The ranking for each brokerage or exchange was determined by adding up scores based on important factors. Things like margin trading, platform lending, and advanced trading weren’t taken into account when choosing the best crypto exchanges for beginners.

Gaurav Kudekar

I am a multifaceted content creator with expertise in blogging, finance, and cryptocurrency reviews. My creative journey involves weaving captivating stories into blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

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