Edited by February 27, 2025

Author

Edited by

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

Author

Alison Heyerdahl

Head of Content

Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.

Learn more about Alison Heyerdahl

eToro

Best App for Social Traders

3.68

How we review

Top Rated Brokers

77% of retail CFD accounts lose money with this provider

Available to traders in %s

Min deposit

USD 200

Regulated By
Varies by region

Trading Cost

USD 10

Max Leverage
Varies by region

400:1

Copy Trading
Varies by region

Yes

Platforms

etoro

Instruments

eToro Broker Review

Founded in 2007, eToro is an FCA-regulated social trading broker. It remains the most popular social trading broker in the UK. eToro’s simple, well-designed trading platform places copy trading and its social network at the heart of its trading experience. However, these features are often more popular among beginners who haven’t yet developed advanced trading strategies.

eToro clients can only use eToro’s trading platform, so they will not have access to the automation tools available on common third-party platforms like MT4 and MT5. We were also disappointed by eToro’s high fees. These include currency conversion fees for deposits and withdrawals in currencies other than USD and a charge of 5 USD for each withdrawal. We also found eToro’s customer service to be generally non-responsive and we were let down by the lack of educational support.

Overall, eToro has many positive features for beginners and others who enjoy social trading, but more experienced traders may find eToro’s limitations and high non-trading fees difficult to overlook.

Does NOT accept Malaysian clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC. 77% of traders lose money with this provider.

Pros

Well regulated
Good for beginners
Innovative trading tools

Cons

Limited education
Wide spreads

Rating Reviews

3.68

eToro Overall Summary

Trust Rating

Trading Conditions

Platforms

Education

1.5

Beginner Friendly

Assets Available

Analysis Research

Deposit & Withdrawal

Overall Rating

3.68

/ 5

Base Currencies

USD

Number of FX Pairs

Crypto Pairs

Copy Trading

Yes

Hedging Allowed

Yes

Scalping Allowed

Islamic Account

Yes

Account Name

Standard

Commission

Fees Included in Spread

EUR/USD

1.00

GBP/USD

2.00

USD/JPY

1.00

Negative Balance Protection

Yes

Company Name

eToro (Europe) Ltd.

Founded

2006

Website

https://www.etoro.com

Website Language

English, Chinese, Arabic, Polish, Swedish, Malay, Vietnamese, Spanish

Support Language

English, Chinese, Arabic, Polish, Swedish, Malay, Vietnamese, Finnish

Office Locations

UK, US, China, Cyprus, Australia, Israel

Support Email Address

Create support ticket on website

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Deposit & Withdrawal

Supported Platforms

How Brokers Are Scored

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.

Trust Rating: Assessment of broker reliability and reputation
Trading Costs: Spreads and fees for clear comparisons
Platforms: User-friendliness and features
Asset Selection: Forex, stocks, and other available instruments
Deposit and Withdrawal: Simple and free deposits & withdrawals
Education: Support for beginners and developing traders
Customer Support: Accessibility, responsiveness, and expertise

To ensure fairness and transparency, we independently verify broker claims and integrate real-user feedback, regulator data, and live trading tests. The radar chart to the left illustrates the weight of each category in our final scoring system.

Why Our Reviews Set the Standard

Every broker we recommend meets strict trust and safety criteria and is tested for reliability, transparency, and overall trading experience.

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Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education. With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users. He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.

Alison Heyerdahl

Head of Content

Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), an experienced trader, and a financial writer with extensive hands-on experience in the Forex trading industry. She specialises in Forex trading, broker analysis, and market research, with a focus on helping traders navigate the complex world of online trading safely and confidently. Alison has tested and reviewed more than 100 Forex brokers, assessing everything from regulatory status and trading conditions to platform features and customer support. Her goal is to provide honest, detailed, and practical insights that traders can rely on when choosing a broker. She’s also produced more than 300 educational videos for the FxScouts YouTube channel, where she explains trading concepts in a clear, accessible way. As the co-host of the “Let’s Talk Forex” podcast, Alison shares expert commentary on broker reliability, trading strategies, and market developments—always with a focus on transparency and trader protection.

Stefan de Clerk

Financial Writer

Stefan is a financial writer and Forex trading enthusiast with over a decade of experience creating in-depth content on finance and technology. His deep interest in geopolitical events, big data, and market sentiment fuels his passion for analyzing how global factors shape financial markets. With a background in marketing and financial research, Stefan believes that Forex trading offers the best insight into the pulse of the world economy. Committed to delivering well-researched, unbiased, and objective information, he helps traders navigate the markets with clarity and confidence.

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eToro