Why is eToro bad?

squidgamer

I've been seeing a fair share pros and cons of trading with eToro but since most users here have probably experienced trading with this broker, is it really bad or are these negative comments just coming from users who lost their money due to their bad trading decisions? Let me hear your inputs. Thank you

kedgegravy

The downside of eToro is that it requires an initial deposit of $200 although this would depend on the country you are in. I heard that they lowered it to $50 on a number of countries including the US, UK, Spain, Germany, Australia and many more. Another disadvantage I can say is that the eToro fees (not trading-related) are bit on the high side. In general, any brokerage has its good and bad side but based on my experience, I could say that the pros outweigh the cons.

amara

kedgegravy Agree on this. eToro has its pros and cons. For me, the only minor negative comment I can say is that the crypto choices are not that many (I think they have around 20+) although most of my favorites are included in the list like Bitcoin, Ethereum and Cardano.

AteNTICI

amara As of this writing, eToro now has 37 cryptos so it's really not that bad. Won't be surprised if they'll add more in the coming days since cryptocurrencies are hot in the market.

micofav

Their spreads are slightly higher than those of most other forex brokers though not above average. That's an honest opinion coming from a user who has been trading with eToro for 5 years.

SSOB

micofav Agree on this. eToro's spreads are not the lowest in the market but for me, this is just a minor disadvantage.