EXPERIENCES & eToro Review
eToro is a social trading platform, which makes it possible not only to invest yourself, but also to follow other investors. Trading in this way can ensure that you, as a novice investor, can trade and invest just as successfully as an experienced person.
Here you will find a manual about the operation of eTorro.
eToro login and account registration
Before logging on to eToro, you must first register an account on the eToro website. This is a fairly simple and quick process, in this manual we will show you exactly how it works.
- Go to the eToro website.
In the picture above, you can see the button to click, to start registering an account with eToro, before you can start the actual eToro login. eToro offers a number of different options for this. For example, you are given the opportunity to create a free account by entering an e-mail address and name registration. You can also choose to create an account directly through your existing Facebook or Google account.
eToro deposit money
To start trading crypto on eToro, you must first have a budget for it. So you first need to deposit money into your eToro account, fortunately this is a fairly easy process to comply with.
To start this process, you first need to log in to eToro. After doing this, you will be taken to this screen:
In this screen you will find the button required to deposit money to your personal account at the bottom left of the screen. After clicking the button you will see an overview of the different ways you can deposit to eToro.
Here you choose the deposit method of your choice, then follow the displayed steps of the payment method you have chosen. Unfortunately, it is not yet possible to make the payment via IDEAL.
Buy and sell eToro Ripple
After depositing money into your personal account on eToro, we reopen the platform and go to the available crypto currencies. In this overview you will find all the different crypto currencies you can buy. For example, eToro offers the possibility to buy Bitcoin, but also Ripple or Ethereum for example. In this example we will show you how buying Ripple on eToro works.
Buy eToro Ripple and sell eToro Ripple, to buy click on the ‘K’ and to sell click on the ‘V’ button. The price shown on the left is for selling Ripple and the price shown on the right is for buying Ripple. In this case we choose to buy Ripple and click on the ‘K’.
After clicking on the ‘K’ for buy, you can select the amount you want to buy Ripple for. A pleasant point here at eToro is that you don’t need a crypto pallet to store your investment in. eToro has its own “crypto pallet” here for that is linked to your personal account.
Are you not only interested in Ripple or Bitcoin, but also other crypto currencies? Then you can select crypto on the eToro page under ‘trading markets’ at the top left of the menu. Here all possible crypto’s that you can buy or sell at eToro are shown.
eToro fees and eToro costs
Like any other broker, eToro charges fees per transaction, but the difference with eToro compared to other brokers is that eToro does not work with commissions but with market spread. This is a cost item that you as a consumer must pay when purchasing a cryptocurrency from eToro.
The principle of this is the same as for commissions, but actually only has a different name. The marketspread is different for each currency you buy or sell. For Bitcoin, the marketspread is 1.5% and for Stellar or NEO, for example, 5%.
At eToro, there are no fees for depositing money. However, eToro does charge you for withdrawing money. The amount of this is $25 per withdrawal. The minimum withdrawal amount is $50, so if you withdraw $50, you already lose half of this because of the costs associated with withdrawal. You would therefore be well advised to only withdraw once per quarter or per year in order to save on these costs.
Is eToro reliable and safe?
Yes, eToro has a legitimate license from the FCA and from the CySEC and is known as a very reliable broker within this world. For this reason, eToro is also growing in popularity in the Netherlands. eToro is constantly improving its security system for the safety of platform users.
The world of crypto platforms can quickly become dusty and boring because almost all platforms offer the same thing. Now, finally, eToro is once again a broker offering a truly unique concept including the social platform, on which you can copy other traders. This offers beginning traders the opportunity to make a profit without the need for large-scale market research.
Although it’s a nice concept and the offer of over 90 different crypt currencies is also top notch. The costs eToro charges for buying and selling cryptocurrency are quite high, especially when compared to, for example, BitVavo. So you have to decide for yourself whether you think it’s worth it.
On the internet you will find many eToro reviews from users of the platform, among others. Going through an eToro review and studying it in advance could have a positive impact on your choice for a crypto platform. We advise everyone to do this, to make sure that the platform you are trading on is not disappointing.
eToro user experiences
The eToro experiences of users are generally very positive. What is also striking about the eToro experiences of users is that many speak of excellent customer service. When you take a look at Trustpilot, for example, you can also see that eToro employees respond neatly to the reviews and comments from users of the platform.
eToro has a special customer service center where eToro users or visitors can contact an employee for any questions. However, you should bear in mind that it can sometimes take up to 7 working days before you receive an answer to your question. It is also not possible to contact an employee by telephone. This is only possible via live chat or email.
The eToro contact center can be found here: https://www.etoro.com/customer-service/
The official eToro website is: https://www.etoro.com/
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|Free Account||Yes, register here|
|Helpdesk language||Dutch & English|
|country of residence||Cyprus|
|Buy with creditcard||Possible|
|Buy with iDeal||Possible|
|Cash out to bank||Possible|
What is eToro
eToro is a broker that gives investors and private traders access to various financial markets. The assets most commonly traded through eToro are through CFDs, but eToro now also makes it possible to buy the actual underlying asset. So you do not buy CFDs but actual shares.
This is a point in which eToro distinguishes itself and is very unique in that there are few other brokers where this is possible.
eToro is not a common crypto exchange, but a real CFD broker.
Active in the financial world since 2006.
Easy to use platform.
eToro focuses more on the real traders, you can trade with leverage on eToro.
Frequently asked questions
Is eToro safe to use?
Yes, safety is eToro’s top priority. This is one of the reasons why eToro has become so popular in such a short period of time.
Is eToro suitable for beginners?
Yes, on eToro you have the possibility to make a profit by copying other users without extensive market research.
How do I get in touch with eToro?
eToro has a customer support center where users can go with any questions or comments. These can be found on: https://www.etoro.com/nl/customer-service/
How many different types of crypto coins are offered on eToro?
On eToro you can buy and sell over 90 different crypto coins.