Reddit is the 6th most popular website in the United States and the 18th globally. Reddit is known as a website that allows users to exchange information online. On Reddit, users post content on various topics such as cryptocurrency, news, and other areas such as sports or parenting. Reddit users can post self-subscribed content or links from other sources.
Reddit became even more famous through the GameStop (GME) stock event.
The war shook Wall Street and American politics when retail investors on Reddit united against mutual funds.
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Positive eToro Review on Reddit
The Reddit community has pretty good reviews about eToro. They have a group for the eToro keyword.
Most of the reviews come from users in Europe such as the UK and France… US users often talk about crypto investments since customers in the US can only trade cryptocurrencies on the exchange.
Here are the positive reviews:
- The interface of the eToro platform is friendly and easy to use. Users also prefer to choose to invest in eToro over other brokers precisely because of this. The user ST3N_ST3N also said that this is the most beautiful interface I have ever seen on an investment platform.
- You can start investing from a small amount of capital, from just 200 usd. Alarizpe user “You can start with as little as 200 USD (I’m not sure it’s 200 GBP), and it gives you a good basic feel of what it means to invest… After you understand, get yourself a real broker.”
- eToro has US stocks, European stocks, Asian stocks, cryptocurrencies… Many European clients want to invest in stocks listed on the Hong Kong market.
- Practical copy trading investment function. Copy-trading offers investors the ability to copy the portfolio of any famous investor. And your investment trades exactly like that famous investor.
- eToro is suitable for long-term investors, trading without leverage, as it has a 0% commission for stocks and cryptocurrencies. User md3372 “The platform is secure. It’s good for long-term trading, otherwise there are technical issues during major market events (if you’re going to buy or sell every 3 minutes, eToro isn’t for you, in my opinion).”
Most people encourage new investors when participating in investments to use eToro. eToro is a great way for “beginners” to learn the processes of trading and investing.
A negative eToro review on Reddit
Like any exchange, eToro also has negative user complaints. We summarize these reviews below.
- The spread is high compared to traditional trades.
- The shares you buy on eToro are fractional stocks. User ytrewq63 said, “You don’t own the share. EToro is the owner./ if you want to leave eToro, since you are not the owner of the shareoner, you cannot transfer your shares to a new broker. You need to sell your shares, transfer the money and buy back the shares / You cannot vote at shareholders’ meetings. This has been a problem for GME and AMC shareholders. They made an effort and allowed them to vote for GME./ I have no idea if they get PFOF (pay for order flow)./ You can’t choose in which market you want your shares to be bought/sold./ They had some operational issues in January when GME was squeezing Gama./ There are many posts complaining when they want to withdraw money. “
- The customer support system is overloaded, making users unable to help resolve issues quickly.
- You have a hard time withdrawing money if you don’t have legal documents to provide investment funds. Because eToro is very strict about anti-money laundering on their investment platform. If the law shows money laundering activity, FCA and ASIC may revoke eToro’s license to operate.
In addition, most of the other negative reviews are due to users who do not adequately understand the problem or lack of knowledge when they start trading.
Why is the eToro review on Reddit so popular?
Reddit is a place to share all the information in the world. And the user is the one who provides the content and decides whether the content is valuable or not through voting.
Valuables on Reddit are voted on and vice versa. Invalid or inaccurate content is rejected. This principle determines the ranking of content posted on Reddit. Valuable content is put on the front page to be viewed by tens of thousands of people. Therefore, eToro reviews on Reddit are of great importance for newbies who want to know the credibility of this trading platform.
The comments section is the most important on Reddit. Since users have the freedom to comment on their opinions on the issue of the shared post, this is a useful place to find transparent review information. However, users need to be vigilant and know how to distinguish which comments come from real users and which comments are advertising or posted by competitors to “download” each other.
Therefore, the information on Reddit is for reference only. If a post is not useful or contradictory, users can refer to the comments below. Reddit helps you get more perspectives and perspectives from other users around the world.
Conclusion
First, users should learn and make their own decisions. There are thousands of different reviews on Reddit every day. But only you know what to do to protect your investment.
eToro or any broker has its pros and cons. What matters is which platform best suits your needs. In addition, you can also use 2-3 different trading platforms at the same time.
