eToro US review – Zero Commission Social Trading Platform
ProsPositive aspects of the game
- Zero commission
- Zero Deposit & Withdrawal fees
- Copy Trading Features
- Gives access to 25 cryptocurrencies
- Easy to use
ConsThe disadvantages we highlight
- Limited offerings in the eToro US
- What is eToro?
- Features of eToro US:
- eToro US video tutorial
- Fees for eToro US:
- eToro US vs. competitors:
- Is eToro US regulated?
- US states supporting eToro USA:
- eToro US minimum deposit:
- eToro US deposit method:
- Who is eToro US best for?
Nowadays, the majority of trading is done online. Several trading platforms are available to make trading easier for investors. The online trading platform eToro is well-known. The company was founded in 2007 and is currently based in Australia, Israel, Cyprus, the United States, and the United Kingdom. It currently has over 20 million members in over 100 countries, with up to a million registered users in 43 US states and Washington, D.C.
Clients from outside the United States can trade commodities, indices, ETFs, stocks, and CFDs on a variety of exchanges. Check out our eToro review for more information (for non US). In 2018, eToro began servicing the United States market for the first time. If you live in the United States and want to trade cryptocurrencies, this eToro US review will tell you everything you need to know. So let's get started…
What is eToro?
It is a trading platform located in New York and offers both simple and social trading options. eToro enables its customers to check the activity of other customers and can also use their Copytrader system. The platform works in full transparency and shows the risks, gains, and portfolio composition for every user.
eToro provides various options to trade more than 20 currencies for manual traders. It also provides tools to track your activity and investment for you. Additionally, the platform has no deposit fees for credit card deposits and wires.
Features of eToro US:
eToro offers a copytrader system that is an innovative and powerful system that helps to explore new ways to create your portfolio. Using this copytrader is very simple. You just need to select a Popular investor whom you want to copy, set the money to allocate for copying the trader, and press COPY. You can also start or stop copying whenever you like. The minimum amount that can be used to copy a user is 200 USD.
Currently, eToro US offers 25 different cryptocurrencies: Ethereum (ETH), XRP, Bitcoin Cash (BCH), Bitcoin (BTC), Dash, NEO, Ethereum Classic (ETC), IOTA (MIOTA), EOS, Compound (COMP), Chainlink (LINK), Yearn Finance (YFI), Aave, Algorand (Algo), Basic Attention Token (BAT), Litecoin (LTC), Uniswap (UNI), Decentraland (MANA), Tezos (XTZ) , Cardano (ADA), Tron (TRX), Stellar (XLM), Zcash (ZEC), Dogecoin (Doge), and Polygon (MATIC).
eToro wallet/eToro money wallet: :
The eToro crypto wallet is a multi-crypto, easy-to-use, and safe digital crypto wallet. This is one of the secured crypto wallets available, with numerous high-level security features to safeguard against unauthorized access that includes DDOS protection, standardization protocols, and multi-signature facilities. It is an app that allows its users to store and withdraw their digital assets. If you have a cryptocurrency with you such as bitcoin, you can store it in a wallet and can use it to do transactions.
These crypto wallets also keep your confidential keys such as the passwords that give access to cryptocurrencies accessible and secure.
It is a different app than the eToro trading app which enables you to save your private keys and to receive, send and spend digital money. You need to have an account at eToro to use the eToro wallet.
eToro US video tutorial
Fees for eToro US:
Unlike different US platforms, eToro US doesn’t take a commission for depositing or trading through wire transfers or credit cards. It charges a spread which is a difference between the offered price and the bid. It can fluctuate in case of high volatility. The spread fee ranges between 0.75% for BTC (Bitcoin) and up to 5% for XTZ (Tezos).
eToro US vs. competitors:
Is eToro US regulated?
This platform is regulated by FinCEN. With more than 20,000,000 traders from a total of 140 countries and about $162 million in funding on the platform, eToro turned out to be among the top social trading platforms. It started expanding its branches in 2018 to the cryptocurrency sector and it has been growing ever since. It can undoubtedly be claimed as a legitimate platform.
US states supporting eToro USA:
Many states of the US have started supporting eToro. They are as following:
Arkansas, California, Colorado, Florida, Georgia, Idaho, Alabama, Alaska, Arizona, Connecticut, District of Columbia, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, New Jersey, New Mexico, North Dakota, Ohio, Montana, Nebraska, North Carolina, Rhode Island, South Dakota, Texas, Oklahoma, Oregon, Pennsylvania, Washington, West Virginia, Wyoming, Utah, Vermont, Virginia, and Wisconsin.
Any resident of the US can open an account and register at eToro for free. Also If your state is not supported yet then sign up and use its virtual portfolio.
eToro US minimum deposit:
The minimum deposit at eToro for account opening is just $50.
eToro US deposit method:
There are two methods available:
ACH bank transfer:
Depositing funds using this method is simple. Just link your bank account with your eToro account and now you can transfer funds.
For buying bitcoins, press the BUY button right next to bitcoin and then choose how much you want to buy (either in units or in dollars). Select OPEN TRADE and now you can see your purchased bitcoin in your portfolio.
Credit card deposit:
For this method, you need to follow the given steps:
Create an account to register on the eToro website.
- Link your debit card
Once you are registered on the platform, link your credit/debit card to your eToro account. eToro will save your information in case you make another purchase with a debit card later.
- Purchase BTC
Go to the bitcoin page and press buy. In the next step, you can fill in how many bitcoins you want to buy. Additionally, you don’t need to buy a full bitcoin, you can also buy fractional amounts. Then press the OPEN TRADE button and now you have bitcoins in your account.
Who is eToro US best for?
If you want to gain access to cryptocurrencies, this platform is perfect for you. With its simple and clean interface, eToro is best for trading cryptocurrencies and social copies. Additionally, eToro offers a straightforward web platform and a mobile app that is best for casual investors that includes beginners.