eToro USA | Free Stock Trading, Social Trading, Crypto
eToro USA provides a strong trading platform, offering a wide range of assets and innovative features like social and copy trading. With eToro USA, users can access a wide array of assets listed on major global stock exchanges, including those in the UK, the U.S., Australia, and Asia.
This article aims to provide an in-depth review of eToro USA for 2023, covering everything you need to know about this leading social trading platform. We'll delve into its features, advantages, disadvantages, and the range of assets it offers for trading, including US stocks and cryptocurrencies. We will also discuss the renowned copy trading feature and how it aids new and less-experienced traders.
eToro USA - General information
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💰 Account currency:
USD
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🚀 Minimum deposit:
$50
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⚖️ Leverage:
1:1
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💱 Spread:
From 0.1 pips
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🔧 Instruments:
Stocks, Cryptocurrencies
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💹 Special Offers:
Advanced Copy Trading Platform, Free $100,000 demo account for beginners, 0 % commission on Stock Trading
eToro USA pros and cons
eToro USA offers several features and benefits to traders. However, the broker also has some drawbacks, as discussed below.
👍 Pros
• Regulatory compliance and reliability. eToro USA is known for its strong adherence to regulations from trusted authorities. It is also a member of compensation funds, offering its users an additional layer of protection. This combination of factors gives users a high level of confidence in the platform's reliability and security.
• Wide selection of assets. With eToro USA, users can access a wide array of assets listed on major global stock exchanges, including those in the UK, the U.S., Australia, and Asia. This vast selection provides users with many investment opportunities, accommodating a broad range of trading interests and strategies.
• Combination of trading styles. eToro USA uniquely caters to various trading styles by allowing active trading, social trading, and passive investing on a single platform. This adaptability to different investment approaches sets eToro USA apart from many other trading platforms and suits a wide array of traders.
• Zero-fee stock trading. eToro USA offers zero-fee trading on certain stocks. This cost-effective approach benefits users as it allows for greater profitability and lower trading costs, making investing more accessible for a wider range of people.
• Ready-made diversified portfolios. The platform provides access to ready-made diversified asset portfolios with varying risk levels. These pre-built portfolios cater to various investment preferences and risk tolerances, offering users a convenient and efficient way to diversify their investments.
• User-friendly platform with educational materials. eToro USA boasts a user-friendly platform compatible with various devices, making trading accessible anytime, anywhere. The platform also offers educational materials that help traders understand various markets, enhancing their trading knowledge and skills.
• No additional fees. One of eToro USA's strengths is its commitment to reducing costs for its users. Hence there are no additional eToro fees. The platform does not charge additional fees for portfolio management, fund deposits, or account maintenance, which can result in significant user savings over time.
👎 Cons
• Mutual funds, Forex trading and futures contracts are not offered.
• Lack of live chat support. eToro USA does not offer live chat support on its website, potentially making a quick connection to customer support more challenging.
eToro USA – Best for copy trading
eToro USA is widely recognized for its copy trading feature, which has made it a popular choice among traders interested in social trading. Copy trading enables users to automatically replicate the trades of successful and experienced investors, or "Popular Investors”, on the eToro platform.
This feature is particularly advantageous for less experienced traders who can follow and learn from the strategies of seasoned traders, potentially enhancing their trading results. Subscribers to a strategy pay the standard trading fee without any additional charges. The minimum deposit for a copy trading platform is $200.
eToro USA – US stock trading
General conditions
eToro USA provides a mobile app for both iOS and Android users. The platform offers various account types, including Demo, Standard, and PRO accounts, all in USD. Users can deposit or withdraw funds through multiple channels, including Debit Card, Bank Account, PayPal, Wire Transfer. The minimum deposit is $10.
The minimum order for copying trades is $1, and investing in stocks is $10. eToro USA offers an extensive range of instruments, including US stocks, international stocks and ETFs. The platform also supports mobile trading and features an affiliate program. The trading features include portfolio management and copying trades. However, there are no contests or bonuses.
Can I trade cryptocurrencies in the USA?
Yes, residents of the United States can indeed trade cryptocurrencies. eToro, as one of the leading social trading platforms, has been a significant part of this development, offering its services to U.S. traders.
As a global platform, eToro stays at the forefront of the cryptocurrency industry by offering more than 30 different cryptocurrencies for trading in the United States. This includes well-known cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many others. This variety provides a robust platform for U.S. traders interested in exploring the world of digital assets.
eToro's platform is particularly user-friendly, which makes it an excellent choice for beginners. It provides a simple, intuitive interface that lets you monitor prices, track changes, and execute trades. Furthermore, eToro also offers a “virtual” or demo account option where beginners can practice trading with virtual money before risking real capital, making it a safe environment for newcomers to learn the ropes of cryptocurrency trading.
One of eToro's standout features is the ability to engage in social trading. This means that users can follow and copy the trades of experienced cryptocurrency traders, reducing the learning curve and potentially increasing the success rate for new traders. This feature, combined with the educational resources available on eToro's platform, can make the transition into cryptocurrency trading less daunting for beginners.
eToro implements stringent security measures to protect its users' assets, including industry-standard encryption protocols and secure customer verification procedures. While cryptocurrency trading involves risk, as does any investment, trading with a reputable and secure platform like eToro can give U.S. traders the confidence they need to navigate the volatile cryptocurrency market.
Summary
eToro USA provides a strong trading platform, offering a wide range of assets and innovative features like social and copy trading. However, like any platform, it has pros and cons, and the platform's suitability largely depends on the individual trader's requirements and experience level.
FAQs
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
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.
Is eToro good in the US?
Yes, eToro is highly regarded in the US. It is a safe broker, offering more than 30 cryptocurrencies. The platform is accessible with a minimum deposit of $10 and provides a demo account stocked with $100,000 for beginner traders to practice and refine their strategies.
Is eToro licensed in the US?
eToro is duly registered and licensed in the United States. EToro USA LLC, a firm registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB), provides its online platform. eToro also complies with regulations imposed by applicable state-level authorities.
What is the downside to eToro?
There are a couple of disadvantages associated with using eToro. Firstly, a high minimum deposit is required for users from certain countries, which can be prohibitive for some potential users. Secondly, the platform lacks a live chat feature on its website for instant connection to customer support, which may lead to slower resolution of customer issues.
Is eToro safe and legit?
eToro is a legitimate and secure platform operating as a zero-commission broker. Its platform is user-friendly, and its mobile trading app offers convenience for on-the-go trading. eToro allows investing in stocks, and Exchange Traded Funds (ETFs). It particularly shines in the realms of copy trading and cryptocurrency trading, making it a versatile choice for diverse trading needs.
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Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.