eToro US offers +3,000 trading assets in 4 markets [stocks, cryptocurrencies, ETFs, options]. Also, a demo account with $100,000 in virtual funds is available for all clients.
Stock and ETF trading on this broker involves 0% commission. On the other hand, a 1% fee is charged for trading crypto assets. "CopyTrader" and "Smart Portfolios" are the available investment options.
eToro US Company Information & Regulation
eToro US is a branch of eToro Broker for US clients, founded in 2022, that operates via 2 entities:
- eToro USA LLC: Registered as a Money Services Business (MSB) and holds Money Transmitter Licenses (MTLs);
- eToro USA Securities Inc.: A broker-dealer which is a member of Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).
Both entities are headquartered in Hoboken, New Jersey. In September 2024, eToro USA settled a regulatory action with the SEC, which alleged the firm operated as an unregistered broker and clearing agency in relation to crypto asset transactions.
While eToro did not admit or deny the allegations, it agreed to a cease-and-desist order and paid a $1.5 million civil penalty.
Table of Features
As it is with every other review article on the website, in this section, we will take a look at the notable specifics of the Forex Broker in a table:
Broker | eToro US |
Account Types | Standard, Demo |
Regulating Authorities | FINRA, SIPC |
Based Currencies | USD, EUR, GBP, CAD, JPY, AUD, CHY, TRY, and 11 more |
Minimum Deposit | $100 |
Deposit Methods | Online Bank Transfers, Wire Transfer, Credit/Debit Card, PayPal |
Withdrawal Methods | Online Bank Transfers, Wire Transfer, Credit/Debit Card, PayPal |
Minimum Order | 0.01 |
Maximum Leverage | 1:1 |
Investment Options | CopyTrader, Smart Portfolios |
Trading Platforms & Apps | Proprietary |
Markets | Stocks, ETFs, Cryptocurrencies, options |
Spread | Variable |
Commission | None |
Orders Execution | Not Specified |
Margin Call/Stop Out | Not Specified |
Trading Features | eToro Club, ESG |
Affiliate Program | No |
Bonus & Promotions | $10 on First Deposit |
Islamic Account | No |
PAMM Account | No |
Customer Support Ways | Live Chat, Email, Ticket |
Customer Support Hours | Monday to Friday from 8:00 to 20:00 EST |
eToro US Trading Account Types
Based on our investigations of the website, the discussed brokerage offers only one live account for trading assets. Account Specifics:
Max. Leverage | 1:1 |
Base Currencies | USD, EUR, GBP, CAD, JPY, AUD, CHY, TRY, and 11 more |
Min. Deposit | $100 |
Aside from this real account, a demo environment is available with $100,000 in virtual funds.
Key Benefits and Notable Drawbacks
You should consider both positive and negative sides when choosing a brokerage. Let's break down the pros and cons:
Benefits | Drawbacks |
Unique Copy Trading and Investment Features | No Forex Offerings |
Commission-free stock and ETF trading | 1% Fee on Cryptocurrency Trades Is Higher Than Some Competitors |
Regulated By FINRA And SIPC For Securities Trading | - |
Guide on Creating an Account and Verification
Creating an account with eToro US is fast and beginner-friendly. After initial registration, a few extra steps are required to fully activate your trading profile and meet regulatory standards.
#1 Start the eToro US Registration
Go to the official eToro US website and click “Join eToro.”
#2 Enter Login Details on eToro US
Provide your email address, set a username, and choose a secure password. Agree to the terms by ticking the required checkboxes, then click “Create Account.”
#3 Complete Your Profile for Full Activation
Submit your full name, residential address, and date of birth; then, fill out the trading questionnaire to assess your investor profile.
After all, upload a government-issued ID and proof of address to verify your account.
eToro US Trading Platform Overview
The company uses its proprietary trading platform, available on both web and mobile devices. Key features include:
- Research Tab with data and insights from investors and experts
- Stop loss and take profit options
- Access to the ProCharts tool for comparing charts
- Ability to create and customize multiple watchlists at once
The platform is the same as that of eToro; you can download it from the links below:
eToro’s options trading platform provides commission-free trades and supports advanced strategies with Leverage.
Through the eToro Options Cash Program, traders can earn up to 4.9% interest on idle cash. There is no minimum equity requirement, but participation requires completing a risk assessment and enrolling in the program.
Spreads and Commissions in Various Aspects
Knowing about the fees and costs in a financial brokerage is recommended for getting the most profits possible out of trading. We will investigate the commissions in eToro US in the next sections.
Trading Fees
As stated on the broker's official website, trading stocks, ETFs, and options doesn't come with any costs for clients. However, crypto trading faces a 1% commission.
Non-Trading Commissions
There are no fees of any kind for inactive accounts, payments, or maintenance matters with eToro US.
Cash Program
A $2 monthly maintenance fee applies, though it is waived for accounts over $5,000.
Ways to Make Payments and Withdraw Funds
The discussed brokerage in this article supports 4 payment options for both deposits and withdrawals, which will be mentioned below:
- Online bank transfers
- Wire Transfer
- Credit/debit card
- PayPal
Deposits are generally processed instantly, except for wire transfers, which may take 4-7 business days. Withdrawals are typically processed within 7 business days.
Copy Trading Facilities and Investment Features
Investment options available on eToro US are almost the same as those offered on eToro. However, in the former, they are focused on Cryptocurrencies:
- CopyTrader: Allows you to automatically copy the trades of up to 100 investors at the same time with a minimum of $200, pause or stop at any time, and a demo account is available;
- Smart Portfolios: collections of crypto coins or tokens in portfolios with a specific theme or strategy, with a minimum investment of $500.
For US clients, eToro’s copy trading feature is limited strictly to cryptocurrency portfolios.
Stock- or ETF-based Smart Portfolios are not available to US clients due to regulatory restrictions.
What Markets and Assets Can I Trade?
eToro US facilitates trading of over 3,000 symbols in 4 markets. Let's take a look at these assets:
- Stocks: Over 3,000 symbols;
- ETFs: More than 350 exchange-traded funds;
- Options: provides an opportunity of earning 4.15% interest;
- Cryptocurrencies: Bitcoin [BTC], Ethereum [ETH], and Bitcoin Cash [BCH].
It's worth noting that this broker does not offer traditional Forex trading.
Welcome Bonuses and Other Promotions
Based on the investigations by our team at the time of writing this article, the mentioned broker offers a welcome bonus for new users. To be precise, it gifts $10 worth of crypto on your first deposit.
This promotion is subject to terms and conditions and may change; in that case, we will inform you of any updates on this page.
Support Services Contact and Open Hours
eToro US takes a similar approach as of its parent company in this matter, providing 3 channels for contacting the customer service department:
- Ticket System: Available 24/7 on the website for registered and unregistered users
- Live Chat: Available for registered users, Monday to Friday from 8:00 to 20:00 EST
- Email: support@etoro.com (same as eToro)
Is eToro US Available for Clients from All Regions?
The broker's services are only available to residents of the United States. Users from other countries should refer to the global eToro platform, which has its own list of restricted countries.
There's a restriction on some states in America, though; crypto trading is not available to clients from these states:
- New York
- Nevada
- Hawaii
- Puerto Rico
- US Virgin Islands
Trust Scores and User Reviews
While eToro US itself doesn't have specific trust scores on relevant websites such as Trustpilot and REVIEWS.io, the global eToro platform has received positive reviews on the former:
- 4 out of 5
- 64% five-star scores
- 21% one-star ratings
This high rating indicates a generally positive user experience, although it's essential to note that this score applies to the global platform, not specifically to eToro US.
According to the Better Business Bureau (BBB), eToro USA currently holds an F rating due to a history of unresolved customer complaints and recent regulatory actions.
This score highlights concerns related to dispute resolution and customer experience, particularly in the crypto segment.
Education Resources
The discussed broker offers educational content tailored to traders at various levels, ranging from beginners to professionals. These resources are mainly divided in these categories:
- eToro Academy: Comprehensive courses and articles on trading and investing in ETFs, stocks, crypto, and more
- News & Analysis: Daily and weekly market updates, insights, tips, press releases, and so on
- YouTube Channel: Webinars, market commentary, and interviews
eToro US Compared to Other Brokers
Let's take a quick look at eToro US features in comparison with others; eToro US Comparison:
Parameters | eToro US Broker | FBS Broker | Alpari Broker | |
Regulation | FINRA, SIPC | FCA, CySEC, MFSA, FSRA, ASIC, FSA, Gibraltar FSC | FSC, CySEC | MISA |
Minimum Spread | 0.0 Pips | 0.0 Pips | 0.0 Pips | 0.0 Pips |
Commission | From 1% | From $0 | From $0 | From 0 on Trading (depending on the account type and payment method) |
Minimum Deposit | $100 | $10 | $5 | $50 |
Maximum Leverage | 1:1 | 1:400 | 1:3000 | 1:3000 |
Trading Platforms | Proprietary App | Proprietary App | MetaTrader 4, MetaTrader 5, Mobile App | MetaTrader 4, MetaTrader 5, WebTrader |
Account Types | Personal, Professional, Corporate, Islamic | Personal, Professional, Corporate, Islamic | Standard | Standard, ECN, Pro ECN, Demo |
Islamic Account | No | Yes | Yes | Yes |
Number of Tradable Assets | 7,000+ | 7,000+ | 550+ | 750+ |
Trade Execution | Market, Limit, Stop Loss, and Take Profit | Market, Limit, Stop Loss, and Take Profit | Market | Market |
Conclusion and Final Words
eToro US offers live chat support for registered users, Monday to Friday from 8:00 to 20:00 EST, and provides up to 4.15% interest on options. The brokerage features a $10 bonus for the first deposit.
eToro USA Securities Inc., the entity offering securities trading, is regulated by FINRA and SIPC. However, crypto trading is provided by eToro USA LLC, which isn't a registered broker-dealer.