eToro US Broker Review 2024

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 for US clients founded in 2022 that operates via two entities:

1. eToro USA LLC: Registered as a Money Services Business (MSB) and holds Money Transmitter Licenses (MTLs);
2. 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. It's worth noting that eToro USA LLC is not a registered broker-dealer.

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 broker in a table:

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:

Aside from this real account, a demo environment is available with $100,000 in virtual funds.

Guide on Creating an Account and Verification

Signing up on eToro US is a completely convenient process which is done very quickly. Here is a short tutorial:

1. Visit the official website and click "Join eToro";
2. Enter your email, then create a username and password;
3. Tick the checkboxes confirming the statements, then click "Create Account".

Now, your account is created on the broker's website. For the complete activation of the account, provide additional details, (name, address, date of birth, etc.) complete the questionnaire, and submit the required documents. Afterward, your account will be verified.

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 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:

• Android (Play Store;
• iOS (App Store)

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 don'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.

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, pause or stop at any time, demo account available;
• Smart Portfolios: collections of crypto coins or tokens in portfolios with a specific theme or strategy, minimum investment of $500.

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).

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:

• 2 out of 5;
• 64% five-star scores;
• 21% one-star ratings.

This high rating suggests a generally positive user experience, though it's important to note that this score is for the global platform, not specifically eToro US.

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.