eToro is one of the best-known online trading platforms in the world, with millions of users around the globe. The company has made itself known thanks to its ‘social trading’ philosophy, which allows users to share their investment strategies and to copy those of other more experienced traders.
But what are the costs of eToro? And above all, are there hidden fees that the user should keep an eye on? In this article, we will try to answer all the questions that users ask themselves on this topic.
We will analyze eToro’s withdrawal and deposit fees in detail, we’ll review the costs of trading forex and stocks, and we’ll try to understand if there are risks of losing everything on eToro. In addition, we will take a look at the eToro reviews, to understand what users think of this platform.
Table of Contents:
eToro Withdrawal Fees
Let’s start with eToro’s withdrawal fees. In principle, the company charges a fee of 5 dollars for each withdrawal made. However, if the user makes a withdrawal of less than 50 dollars, the commission rises to 25 dollars. In addition, if the user makes a withdrawal in a currency other than that of his account, he will have to pay an additional conversion cost.
eToro deposit fees
Now let’s move on to eToro’s deposit fees. In general, the company does not charge fees for depositing by credit card or bank transfer. However, if the user uses other payment methods, such as PayPal or Skrill, he may have to pay a fee ranging from 0.5% to 1%.
eToro Forex Fees
But what are eToro’s fees on forex? In this case, the company applies a variable spread, which depends on the currency pair chosen by the user. The spread is the difference between the buy price and the sell price of a currency pair, and it is the main cost for trading forex. In general, eToro’s spreads are competitive compared to other online trading platforms.
eToro stock fees
Now let’s move on to eToro’s stock fees. Again, the company applies a variable spread, which depends on the title chosen by the user. In addition, if the user buys shares through eToro, he will have to pay a fixed commission of 0.09% on the value of the transaction. However, if the user uses so-called ‘leverage’ to increase their exposure to the markets, they will have to pay an additional cost.
You risk losing everything on eToro
But are there any risks of losing everything on eToro? As with any form of online trading, there is always a risk of losing your capital. However, eToro has made available to users a series of tools to limit risk, such as stop loss, which allows a position to be automatically closed when a certain level of loss is reached.
eToro Reviews
Finally, let’s try to understand what users think of eToro. In general, the reviews on this platform are pretty positive. Users appreciate the ease of use of the platform and the ability to copy other traders’ strategies. However, there are also some criticisms regarding eToro’s fees, considered by some users to be too high.
