In this article, I will highlight the pros, cons, and the various features of eToro.
Pros:
Beginner friendly user interface
Withdrawal fee is only 5$
No-commission purchase of stocks
Purchase of fractional shares is allowed
Copyportfolio feature (this feature enables you to have the same portfolio as your favourite investors on eToro, some of which are professionals.)
Cryptos, Stocks, Commodities, Index Funds, ETFs, are all available for trading/investing on eToro.
Great customer service
Seamless account opening (my account was verified in a matter of hours)
Cons:
For small investors, there is a minimum deposit of funds :
Stocks : 50 USD
ETFs/Mutual funds: 500 USD
Copyportfolio/copyusers: 200 USD
Major index funds and some commodities: 2000 USD
eToro website/app might experience delay in opening of positions when user traffic volume is high
eToro takes a small percentage of your dividend income
Only users in Europe can own Cryptocurrencies
If you want to open an eToro account(free 50 USD for new users), you can use this affiliated link ( I earn a small commission if you use this link to register): Trade with me on eToro
eToro guide:
This guide serves to address various issues faced by many eToro users.
- Verifying your account is the most important step or else you can’t withdraw funds or invest in anything.
2. Not all users can purchase cryptos as an asset. Check eToro FAQ before purchasing cryptos. You can still open a position, however it would be a CFD position meaning you do not own the underlying asset.
3. The copyportfolio feature can reap massive benefits only if you invest a large chunk of money. Or else, your returns will be minimal. Read this for more info on copytrading.
Here it is again:
If you want to open an eToro account(free 50 USD for new users), you can use this affiliated link ( I earn a small commission if you use this link to register): Trade with me on eToro
Only invest money you are willing, and can afford to lose. Happy investing! :)
