EToro, being innovative, earned its name by providing the best means of social investment and allowing users to copy the trades of other investors. More than 30 cryptocurrencies are available to trade on eToro. It allows its users (in most regions) to login for free. EToro crypto fees are 1% for buying or selling crypto assets on its platforms. For stocks and ETF trades, there is no commission. The broker foots the bill for regulatory transaction fees when you sell a stock. There is a $75 account transfer fee for partial and full transfers. There’s a withdrawal dashboard where you check your fund status. For eToro users in the USA, some withdrawals might take up to 7 business days to appear in your bank account, depending on your bank and payment method. eToro withdrawal fee is $5 (Any withdrawals sent in currencies other than USD are subject to conversion fees).
Is it worthy to invest your money in EToro?
eToro is a win-win copy-trading platform that enables traders to copy trades of experienced investors. The traders also receive exclusive perks for sharing their own trading strategies. It offers more than 3000 tradable symbols, including CFDs, forex, and exchange-traded securities. It provides quite a comprehensive and slightly pricey trading experience.
- eToro users can access amazing crypto-trading ideas and copy other individuals or groups of traders across 108 supported cryptocurrency pairs.
- For investors looking to withdraw underlying crypto assets from their eToro account, eToroX offers the eToro Mobile wallet app.
- Overall, this innovative platform has best frameworks for cryptocurrency trading that has its average price equal to the market price.
Do EToro charge more than other platforms?
It’s altogether wrong to say they don’t have any fees at all. They charge you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:
- Trading fees:
It’s a brokerage fee that you pay when you actually do a trade. Either it would be a commission based on the traded volume or it is fixed, a spread that is the difference between the buy price and the sell price or financing rate. Some brokers apply all of these.
- Non-trading fees:
It is relevant to operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.
- eToro inactivity fee
eToro does apply a low inactivity fee and it is $10 per month after one year of inactivity. Inactivity means that you don’t log in to your account. It would save you from getting charged after a longer time of no trade.
Verdict:
eToro being in the top 5 best cryptocurrency exchange list is an excellent choice for social copy trading and cryptocurrency trading. Fantastic for ease of use, has a user-friendly web platform and its mobile app is great for casual and beginner investors. You get the best experience assistance on this platform!
