Get exclusive money-saving offers and guides
Straight to your inbox
By signing up, you agree to the Finder
Privacy & Cookies Policy
and
Terms of Use, Disclaimer & Privacy Policy.
Review: eToro cryptocurrency trading
Buy and sell crypto on this popular social trading platform.
- Great for its wide range of markets and features
- Not so great for its complex fee structures
Check out our full list of pros and cons or read on.
19
Fiat currencies
27
Cryptocurrencies
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Details
| Product Name | eToro Cryptocurrency Trading |
|---|---|
| Fiat Currencies | EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more |
| Cryptocurrencies | BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM & 15+ more |
| Deposit Methods |
Bank transfer Credit card Debit card Neteller PayPal Online banking Skrill |
| Trading Fee | Fees vary. Overnight and weekend fees apply |
| Deposit Fees |
Fees vary (conversion fees for non-USD deposits)
(US$50 minimum deposit) |
| Withdrawal Fees | US$5 (minimum withdrawal of US$50) |
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
- Cryptocurrency disclaimer: Highly volatile investment product. Your capital is at risk.
- CFD disclaimer: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
What is eToro?
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 addition to trading cryptocurrency, eToro provides access to non-cryptocurrency CFD markets including stocks, commodities and foreign currency.
What fiat currencies and cryptocurrencies are supported?
- Supported fiat currencies: EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more
- Supported cryptocurrencies: Approximately 27 cryptocurrencies
- Cryptocurrency disclaimer: Highly volatile investment product. Your capital is at risk.
- CFD disclaimer: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Which payment methods are accepted?
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.
- Cryptocurrency disclaimer: Highly volatile investment product. Your capital is at risk.
- CFD disclaimer: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
What's it like to use eToro?
1. Getting started
Sign up to get started or explore the site to copy other traders, look for tips from users and more.
2. Cryptocurrency markets
Browse the marketplace to find current trading info, filter the findings to get what you're looking for and set up alerts, news feeds and more through your account.
3. Copy crypto traders
Search for other people trading cryptocurrency, see how and what they're doing, filter the results and join the community.
4. Browse trader portfolios and statistics
See what the most (or least) successful traders are doing with their portfolios on eToro.
eToro fees and limits
For a full breakdown of fees, please see eToro's website.
- Cryptocurrency disclaimer: Highly volatile investment product. Your capital is at risk.
- CFD disclaimer: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Fees for buying US $1000 of Bitcoin
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.
How do I create an account at eToro?
Derivatives
eToro is primarily used for trading Contracts for Difference (CFDs). These are derivative products that track the price of an underlying asset such as stocks, commodities or forex. The advantage of CFDs is they allow you to speculate on the price of assets without needing to own the underlying asset. This allows eToro to offer a wide range of assets.
CFDs also allow you to go long or short on an asset, which means you can bet on the price going up or down, allowing traders to make money when prices go down instead of just up.
In addition to offering cryptocurrency purchases, eToro also offers CFD products that allow you to go short or long on crypto prices using leverage.
eToro CopyTrading
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.
Additional features
It also offers a range of features that go beyond the norm and brings its experience in more traditional markets to the world of cryptocurrency.
- STP. eToro uses both STP (straight through processing) technologies and NDD (no dealing desk) practices. This ensures that all trades are executed in real time and without any interference.
- Markets available. As well as a range of cryptocurrencies, eToro provides access to stocks, commodities, foreign exchange, exchange-traded funds (ETFs) and indices.
- Premium Membership. eToro offers a premium membership service called eToro Club which offers five different tiers. Club members gain access to cryptocurrency staking. It is not a paid service, and instead, eligibility is based on the amount of funds in your account, starting from US $5000.
- Trading Academy. This online platform provides live webinars, online courses and a range of trading videos to help you gain a deeper understanding of the ins and outs of trading.
- Social trading features. eToro offers the CopyTrader system, which allows users to copy the trades of other platform users as well as a social newsfeed and a Popular Investor program.
- Practice trades. Users can get the benefits of a free demo account to learn the basics and test strategies before risking real money.
Customer Support
eToro uses a ticket based customer service. This is a 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.
Is eToro safe to use?
- Regulation: eToro is regulated and licensed by the relevant financial authorities in Europe, the United Kingdom, Australia and the United States. Australian users access eToro's trading products and services via eToro Australia, which is authorised by the Australian Securities & Investments Commission (ASIC). In the event of eToro not being able to pay back your funds for reasons such as insolvency or theft, your protections under existing laws will vary.
- Verification: Verification is required to trade on eToro, which includes providing contact details and identification. All eToro users are classified as either retail or professional clients. Customers are initially classified as retail by default, but can get re-categorised as professionals by passing a knowledge test. Professional traders have access to additional features, such as higher leverage, but waive certain legal protections.
- Security: eToro client funds are not used for margining or hedging purposes, which is in keeping with eToro's duty to be a responsible guardian of user funds. These funds are kept in segregated accounts, and deposits are communicated using SSL technology.
- Risks: Cryptocurrency is a high-risk asset class, and CFDs add another layer of exposure. In fact, 68% of retail investor accounts lose money when trading CFDs on eToro. While eToro aims to be an entry point for beginner traders, it can also be a quick way to lose money if you're not experienced or unaware of the fees that may apply.
Verdict
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.
If you are looking to purchase a few leading cryptocurrencies and keep them on the platform, then eToro is straightforward and easy to use. Plus it gives you access to additional non-cryptocurrency CFD markets, so if you are looking to trade more than just cryptocurrencies then it is an excellent choice. However, if you want a fully-featured cryptocurrency exchange with features such as lending or staking, you may want to look at some of the other options available.
Pros and cons
Pros
- Access to multiple markets. Your single eToro account allows you to access other markets beyond cryptocurrency. For a better look at what this is like, read our full review of eToro.
- CopyTrading. eToro pioneered social trading which allows you to follow the moves of other traders and even copy their trades with the CopyTrader feature.
- Easy interface. Despite the wealth of functions, eToro's user interface manages to keep things easy.
Cons
- Complex fee structure. Between the trading fees, deposit fees, withdrawal fees, overnight fees and spreads, there are a lot of potential costs to watch out for.
- Limited range. eToro offers a rather limited range of coins compared to most exchanges
- Conversion fees may apply. The conversion fees may take a bite out of your funds.
- Cryptocurrency disclaimer: Highly volatile investment product. Your capital is at risk.
- CFD disclaimer: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Alternatives to eToro cryptocurrency trading
Frequently asked questions
- Cryptocurrency disclaimer: Highly volatile investment product. Your capital is at risk.
- CFD disclaimer: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
