eToro

Established in 2007, eToro is a global, publicly listed social trading broker regulated by top-tier authorities including the FCA (UK), ASIC (Australia), CySEC (Cyprus), and FINRA (USA) for its non-CFD services.

The platform is popular for its copy trading capabilities and easy access to stocks, ETFs, crypto, CFDs, and more. It offers a proprietary trading interface across web and mobile, with no support for MetaTrader.

Onboarding with eToro is quick and beginner-friendly. The platform itself is one of the most user-friendly we've tested—its layout feels more like a social media app than a traditional trading terminal, which makes it especially easy to navigate, even for those new to investing.

eToro’s social trading features—such as copy trading and public portfolios—add a layer of interactivity that’s rare among brokers. It’s a clear differentiator that appeals to traders who like seeing what others are doing. We also appreciate the effort they've put into education: the eToro Academy offers quality tutorials, guides, and regular webinars that help new users build confidence and knowledge.

Combine that with regulation from top-tier authorities and built-in negative balance protection, and you’ve got a broker that clearly puts effort into accessibility and user safety.

At TraderGuide, our primary focus is transparency and low trading costs—and unfortunately, eToro ranks as one of the more expensive brokers we’ve reviewed. Spreads across the 16 most commonly traded instruments globally, that we analyse consistently land at the high end of the market—often significantly above the TraderGuide average.

For example, Dow CFD spreads are around 6.01 points, compared to top brokers offering it near 0.70 points. EUR/JPY spreads peak at about 8.80, when comparable platforms offer it closer to 0.70. In commodities, Gold spreads are similarly disappointing and reach 8.60 points, versus the 1.20 typical at lower-cost brokers—all above many ECN brokers’ averages. 

Community feedback frequently mentions the enormous spreads and hidden costs—even on crypto trades and long-only stock positions—as a major downside, particularly for active and short-term traders.

On top of that, there are non-trading fees: $5 per withdrawal, currency conversion of up to 50–150 pips, inactivity fees, and occasional account re-verification delays.

eToro makes sense if you're after a social, commission-free investing experience with strong regulatory backing and an easy-to-use interface. It’s particularly suitable for long-term stock or ETF holders who don't mind upfront spread costs.

But if your priority is trading CFDs, forex pairs, indices, or commodities with tight pricing, eToro simply doesn’t compete. Their spreads are substantially wider than nearly all brokers listed on TraderGuide, especially on indices, forex, and commodities. Active traders, scalpers, or those requiring cost-efficient execution will find far better value elsewhere in our rankings.

In short: eToro works for casual investors craving usability and market access—but for spread-conscious traders, it’s a consistently high-cost choice.