Actually yes, I’d say that eToro is a good crypto broker. There are a couple of reasons for this.
Firstly eToro has quite a diversified range of markets to trade, so if crypto only forms a small part of your investing portfolio (as it should do) you can also invest in other things like UK and US stocks and ETFs.
Secondly, they are regulated by the FCA for these activities, unlike Binance or Coinbase which only focus on crypto).
Thirdly, you can withdraw cryptocurrency from eToro instead of keeping it on their trading platform, this is particularly important if you want to keep safe custody of your cryptocurrency so you don’t need to worry about, yet another crypto broker going bust.
There is a downside though to trading crypto through eToro and that’s the fees. Generally, eToro is quite an expensive broker for crypto. eToro is expensive for crypto because quite they do at least some vetting before (as their UK MD told me) they add them to the platform, so you have a smaller chance of being caught up in a crypto pump-and-dump scam.
I’d say that eToro is better than Binance and Coinbase for crypto trading for the average investor, but for those who want more exotic cryptos and are happy to take on more risk a specialised crypto exchange may be more suitable.
eToro Cryptocurrency Investing Review
Name: eToro Cryptocurrency Investing
Description: With eToro you can buy and sell cryptocurrency on their normal investment platform in USD or for advanced crypto investors you can deposit and withdraw crypto on the eToro crypto exchange.
Summary
A good all-around cryptocurrency investing platform, suitable for those wanting to invest in the most popular crypto coins.
Fees: The 1% fee for trading crypto is included in the buy-sell spread when you trade crypto.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Pros
- 120 cryptocurrencies
- $50 minimum deposit
- 1%* commission on crypto trading
Cons
- Accounts only in USD
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Pricing
(4)
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Market Access
(3.5)
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Online Platform
(4.5)
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Customer Service
(4)
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Research & Analysis
(4)
Overall
451% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
