eToro Review 2026: Our Complete Analysis
eToro✓La plateforme de social trading #1 mondial8.4RatingRegulationCySEC 109/10 +2Min. deposit50 €Platforms—Trading involves risk of capital loss.
Updated 29/09/2026 · view the full broker profile
Disclosure: Analyse-Trading is an eToro partner; this relationship does not influence the rating. The scoring grid, scores and weaknesses below follow the same method we apply to every broker.
CFD risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
eToro review 2026: the Nasdaq-listed copy trading platform, regulated by the FCA, CySEC and ASIC, offers 11,000+ assets. Fees, safety and limits examined.
Founded in 2007 in Tel Aviv, eToro reports more than 40 million registered users and 4.28 million funded accounts at the end of June 2026. Since its Nasdaq listing in May 2025 (ticker ETOR), the group publishes audited results every quarter, which strengthens its transparency. Its CopyTrader remains the benchmark for social trading. But the fee schedule has changed: zero-commission stocks are gone, the inactivity fee has been scrapped, and local-currency accounts have arrived. This eToro review sets out the facts, using official figures.
Final score: 8.4/10
Detailed Scoring
| Criterion | Score | Comment |
|---|---|---|
| Regulation & Safety | 9.5/10 | FCA, CySEC, ASIC, FSRA, MAS, SEC/FINRA, MiCA licence; Nasdaq-listed |
| Asset Range | 9/10 | 11,000+ assets incl. 9,600+ stocks, 1,200+ ETFs and 200+ real cryptoassets |
| Trading Conditions | 7/10 | Commission-free ETFs, no inactivity fee; $1-2 stock commission, costly forex and crypto |
| Platform & Tools | 9/10 | CopyTrader, Smart Portfolios, eToro Edge, public API; no MT4/MT5 |
| Deposits & Withdrawals | 8/10 | EUR/GBP accounts: free withdrawals, no minimum; $5 and FX on USD account |
| Customer Support & Education | 8/10 | 24/6 support in 7+ languages, Tori AI assistant, eToro Academy |
The overall score is the average of the six criteria (50.5 / 6 = 8.42), rounded to one decimal. It places eToro among the most complete multi-regulated brokers, with active-trading costs remaining its main weakness.
About eToro
eToro was founded in 2007 by Yoni Assia (still CEO), Ronen Assia and David Ring under the name RetailFX. Social trading launched in 2010 with CopyTrader, the feature that built the brand.
eToro Group Ltd is headquartered in Bnei Brak, Israel. It has been listed on Nasdaq since 14 May 2025 (IPO priced at $52 per share). EU clients are served by eToro (Europe) Ltd in Limassol, Cyprus, and UK clients by eToro (UK) Ltd.
Key figures (Q2 2026):
- Founded: 2007
- Registered users: 40 million+ (75 countries)
- Funded accounts: 4.28 million (+18% year on year)
- Assets under administration: $19.2 billion
- Q2 2026 net income: $53 million
- Instruments: 11,000+ (varies by country)
- Model: real assets (stocks, ETFs, crypto) and CFDs as counterparty
The listing is a real change in transparency: revenue, profit, cash ($1.2 billion at the end of June 2026) and legal risks are published and audited.
Regulation and Fund Security
Safety is eToro's historic strength. The group operates through around a dozen regulated entities on several continents.
Regulators
| Regulator | Country | Licence number | Entity |
|---|---|---|---|
| CySEC | Cyprus (EU) | 109/10 | eToro (Europe) Ltd — EU/EEA clients |
| FCA | United Kingdom | FRN 583263 | eToro (UK) Ltd — UK clients |
| ASIC | Australia | AFSL 491139 | eToro AUS Capital Ltd |
| FSRA (ADGM) | United Arab Emirates | 220073 | eToro (ME) Ltd |
| MAS | Singapore | CMS101824 | eToro Singapore Pte Ltd |
| SEC / FINRA | United States | 8-70212 | eToro USA Securities Inc. |
| MFSA | Malta | C97952 | eToro Money Malta Ltd (e-money) |
For cryptoassets, eToro (Europe) Ltd received a MiCA CASP authorisation from CySEC in January 2025, passportable across the European Economic Area.
Client protection
- Segregated funds: client money is held separately from the group's own funds.
- Negative balance protection: mandatory for EU and UK retail clients on CFDs.
- Compensation schemes: up to £85,000 via the FSCS (UK clients) and up to €20,000 via the Cyprus Investor Compensation Fund (EU clients).
- Capped leverage: 1:30 maximum on major forex pairs for retail clients.
Points to watch
- In Australia, ASIC started proceedings against eToro AUS Capital in November 2023 over the distribution of its CFDs (design and distribution obligations). The case was still ongoing at our last check.
- In 2024, eToro USA paid $1.5 million to settle with the SEC and restricted its US crypto offer.
- The Cyprus ICF cover (€20,000) is modest compared with the UK FSCS.
These points justify withholding a perfect score, but the combination of top-tier regulators, a listed company and a MiCA licence puts eToro at the top of the market.
Trading Conditions
Trading involves risk of capital loss.
eToro's fee schedule has changed significantly since 2025. These are the official fees published by eToro in September 2026.
Fees by asset class
| Asset | Fee | Comment |
|---|---|---|
| Stocks (real) | $1 or $2 per order (open and close) | Depends on country and exchange; zero commission no longer applies |
| ETFs (real) | Zero commission | Any amount |
| Crypto (real) | 1% to buy and 1% to sell | Lower for eToro Club members (from 0.85%) |
| Stock/ETF CFDs | 0.15% spread | Plus overnight fees |
| EUR/USD (CFD) | Around 1 pip | Above ECN brokers |
| Gold (CFD) | 0.01% spread | Plus overnight fees |
| S&P 500, Nasdaq 100, DAX (CFD) | 0.007% spread | Plus overnight fees |
Other fees
- Inactivity fee: removed. eToro's fee page now states "Free" (previously $10/month after 12 months without login).
- Withdrawal fee: free from a EUR, GBP or DKK account; $5 per withdrawal from the USD account.
- Currency conversion: 150 pips on EUR/GBP deposits into the USD account; 0.75% for conversions between a local-currency account and the USD account. Club discounts of 20% to 80%.
- Overnight fees: apply to CFD and leveraged positions held overnight.
- CopyTrader and Smart Portfolios: no management fee; only normal position costs apply.
Local-currency accounts
European and UK clients can now hold a EUR or GBP account alongside the USD account. Deposits and withdrawals in that currency carry no conversion or withdrawal fee, and assets listed in that currency are bought without FX. For an investor in European UCITS ETFs, the cost is genuinely zero.
For US stocks, however, the 0.75% conversion adds to the $1-2 commission. On that type of order, XTB and Trading 212 are cheaper.
Account types
| Account | Maximum leverage | Commission |
|---|---|---|
| Retail account | 1:30 (major forex) | As per the table above |
| Professional account | Higher, on request | Same |
Professional status means giving up some protections (leverage caps, compensation). It requires meeting at least two of the three MiFID II criteria. The eToro Club programme, based on invested equity, adds discounts on conversion and crypto.
Trading Platforms
eToro builds its own tools instead of offering MetaTrader. This is where most of its added value lies.
CopyTrader: the flagship feature
CopyTrader automatically copies, in real time and proportionally, the positions of a chosen investor. The minimum is $200 per copied trader, with no copy fee. Copied investors are paid through the Popular Investor programme, up to 1.5% per year of assets under copy depending on tier. Their statistics (performance, risk score, drawdown) are public.
Smart Portfolios
Smart Portfolios are thematic portfolios managed by eToro or partners. The minimum is $500, with no management fee. They suit investors who want diversified exposure without picking individual stocks.
eToro Web, eToro Edge and mobile app
- eToro Web: intuitive interface, built-in social feed, TradingView charts (100+ indicators).
- eToro Edge: new web platform for active traders, introduced in 2026.
- Mobile app (iOS and Android): redesigned in 2026 with the Tori AI assistant, sub-accounts and Equity Buying Power.
- Public API and App Store: since October 2025, a developer API and more than 75 third-party apps.
Limitations
- No MT4, MT5 or cTrader: Expert Advisors cannot be used.
- No downloadable desktop platform.
- Less chart customisation than MT5 or full TradingView.
Tradable Instruments
eToro offers more than 11,000 instruments, three times the 3,400 figure often quoted a few years ago. Availability varies by country.
Instrument overview
| Asset class | Number | Type |
|---|---|---|
| Stocks | 9,637 | Real + CFD |
| ETFs | 1,265 | Real + CFD |
| Cryptoassets | 206 | Real (MiCA) + CFD depending on country |
| Currencies (forex) | 66 | CFD |
| Indices | 55 | CFD |
| Commodities | 85 | CFD |
| Total | 11,300+ |
Source: eToro "Markets" page, September 2026.
Real or CFD: unleveraged long positions in stocks, ETFs and crypto are real assets you own. Leveraged or short positions are CFDs.
Crypto focus
With more than 200 cryptoassets, including 19 added in May 2026, eToro offers one of the widest ranges among regulated brokers. The MiCA licence governs this activity in Europe. The 1% fee is, however, higher than at specialist crypto exchanges.
What is missing
- No direct bonds or futures for European clients.
- No options in Europe (options are US-only).
Deposits and Withdrawals
Deposits
The minimum deposit is $50 in most countries. The first deposit can be higher depending on the country and payment method; the exact amount is shown at sign-up. Methods include bank card, bank transfer, PayPal, Skrill, Trustly and eToro Money.
Tip: open a local-currency account (EUR or GBP) and deposit in that currency to avoid conversion and withdrawal fees.
Withdrawals
| Account | Withdrawal fee | Minimum |
|---|---|---|
| EUR, GBP or DKK account | Free | None |
| USD account | $5 | $30 |
Processing typically takes 1 to 3 business days depending on the method, after eToro has approved the request.
KYC
Like any regulated broker, eToro requires a valid ID and a recent proof of address. Proof of source of funds may be requested for larger amounts.
Customer Support and Education
Customer Support
Trading involves risk of capital loss.
eToro reports more than 250 agents in 7 countries, available 24 hours a day, 6 days a week. Support is offered in English, French, Spanish, Italian, German and other languages. Channels include live chat, tickets and the Tori AI assistant, available around the clock.
Response times vary by period and, according to user feedback, by Club tier. Live chat is sometimes preceded by a mandatory step with the automated assistant.
Education
- eToro Academy: courses, guides and videos from beginner to advanced.
- Regular webinars and market analysis.
- Demo account with $100,000 in virtual funds, with no time limit.
- Social feed: follow the reasoning of thousands of verified investors.
Comparison with Competitors
| Criterion | eToro | XTB | Trading 212 | Pepperstone |
|---|---|---|---|---|
| Main EU regulator | CySEC | CySEC, KNF | CySEC | CySEC, BaFin |
| Real stocks | $1-2 per order | 0% up to €100,000/month | Zero commission | No (CFDs) |
| Real ETFs | Zero commission | 0% up to €100,000/month | Zero commission | No (CFDs) |
| Currency conversion | 0.75% (local account) | 0.5% | 0.15% | Depends on account |
| Built-in copy trading | Yes (CopyTrader) | No | No | Via third-party tools |
| MT4/MT5 | No | No | No | Yes (+ cTrader, TradingView) |
| Real crypto | 200+ | No (CFDs) | No (CFDs) | No (CFDs) |
| Inactivity fee | None | €10/month after 12 months | None | None |
Reading the table:
eToro leads on social trading, breadth of range and real crypto. On the raw cost of a US stock order, XTB and Trading 212 are cheaper. For active forex and algorithmic trading, Pepperstone and its raw spreads remain a better fit.
Our Analysis of the User Experience
Account opening and KYC
Sign-up is online and takes around ten minutes. The MiFID II appropriateness questionnaire assesses your experience and risk tolerance. The demo account is available immediately.
Trading experience
The interface is one of the most accessible on the market, on web and mobile. CopyTrader is set up in a few clicks, with a copy stop-loss. Active traders will find a fuller environment in eToro Edge, though not as deep as MT5.
Withdrawals
From a local-currency account, withdrawals are free with no minimum. From the USD account, expect $5 per withdrawal plus conversion if your bank account is in another currency.
Who eToro is best for
Beginner and intermediate investors who want to copy verified traders, buy ETFs commission-free and hold real crypto on one regulated platform.
Pros and Cons
Pros
- CopyTrader and Popular Investors: the most mature copy trading on the market, with no copy fee
- Top-tier regulation: FCA, CySEC, ASIC, FSRA, MAS, SEC/FINRA and a MiCA licence
- Nasdaq-listed company: audited results published every quarter
- 11,000+ instruments: 9,600+ stocks, 1,200+ ETFs, 200+ real cryptoassets
- Commission-free ETFs and no inactivity fee
- Local-currency accounts: deposits and withdrawals without conversion or withdrawal fees
- App and interface among the simplest on the market, with an AI assistant
Cons
- Zero-commission stocks are gone: $1 to $2 per order to open and to close
- High forex spreads: around 1 pip on EUR/USD, uncompetitive for active trading
- 1% crypto fee per transaction, above specialist exchanges
- Currency conversion: 150 pips or 0.75% whenever the USD account is involved
- No MT4/MT5/cTrader and no desktop platform
- Ongoing ASIC proceedings in Australia over CFD distribution
FAQ
Is eToro regulated and safe?
Yes. eToro is regulated by the FCA (FRN 583263), CySEC (109/10), ASIC (AFSL 491139) and other top-tier authorities, and holds a MiCA licence for cryptoassets in the EU. Client funds are segregated and covered up to £85,000 (FSCS, UK) or €20,000 (ICF, EU). The group has been listed on Nasdaq since 2025.
What is the minimum deposit at eToro?
The minimum deposit is $50 in most countries; the first deposit can be higher depending on the country and payment method. Copying a trader requires $200 and a Smart Portfolio $500.
Does eToro charge commission on stocks?
Yes, since 2025. A flat $1 or $2 applies when opening and closing, depending on your country and the exchange. ETFs remain commission-free. Positions opened before the fee came into force are not charged on closing.
Does eToro charge an inactivity fee?
No. eToro has removed its inactivity fee, which used to be $10 per month after 12 months without login. The official fee page now states "Free".
What are eToro's withdrawal fees?
Withdrawals are free with no minimum from a EUR, GBP or DKK account. From the USD account, eToro charges $5 per withdrawal with a $30 minimum.
Can I use MetaTrader 4 or MetaTrader 5 with eToro?
No. eToro uses its own platforms: eToro Web, eToro Edge and the mobile app. Charts are powered by TradingView, and a public API has been available since 2025. To run Expert Advisors, you need another broker.
How does CopyTrader work?
You choose an investor, allocate at least $200, and their positions are replicated automatically and proportionally. There is no copy fee. You can set a copy stop-loss and stop copying at any time.
How are eToro gains taxed?
eToro does not withhold tax for most clients, so you must declare gains yourself under your country's rules. In the UK, for example, capital gains tax is 18% or 24% above the £3,000 annual exempt amount, and eToro UK offers a Stocks and Shares ISA to shelter gains. Check with a tax adviser for your situation.
Is eToro suitable for beginners?
Yes. The interface, the $100,000 demo account, eToro Academy and CopyTrader make it one of the most accessible platforms. Keep in mind that copying a trader guarantees nothing and that 51% of retail CFD accounts lose money with this provider.
Can I buy real cryptocurrencies on eToro?
Yes. Without leverage, you actually own the cryptoassets, within a MiCA-regulated framework in the EU. More than 200 cryptoassets are available, depending on your country. The fee is 1% per transaction, lower for Club members.
Verdict
This eToro review ends with a clearly higher score than before, and it rests on facts: a range three times larger, no more inactivity fee, local-currency accounts, a Nasdaq listing, a MiCA licence and richer platforms (eToro Edge, API, AI).
Who is eToro for?
Investors who want to copy verified traders, build a commission-free ETF portfolio and hold real crypto on one regulated, listed platform. It is also an excellent entry point for beginners.
Who is it less suited to?
Active forex traders, penalised by spreads of around 1 pip. MetaTrader robot users. Investors placing many US stock orders from a non-USD account, for whom commission and conversion add up.
Final score: 8.4/10
To go above 9/10, eToro would mainly need to lower its active-trading costs (forex spreads, crypto fees, conversion) or bring back zero-commission stocks.
Written by the Analyse Trading team (@analysetrading) · Updated 29/09/2026 · view the full broker profile
Disclosure: Analyse-Trading is an eToro partner; this relationship does not influence the rating.
Risk warning: 51% of retail investor accounts lose money when trading CFDs with this provider. Cryptoassets are highly volatile and lightly protected. Copy trading does not guarantee results; past performance is not an indication of future results. This article is for information only and is not investment advice.
