eToro review 2026: social trading, CopyTrader and CFDs

Our conclusion

eToro earns 9.0/10 and is our preferred choice for social trading, CopyTrader and users who want to combine investing with trading on one platform.

The platform makes it easy to buy stocks, ETFs and cryptocurrency, follow other investors, and trade CFDs on currencies, commodities, indices, stocks and crypto. Its biggest advantage is CopyTrader.

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 52% of retail investor accounts lose money when trading CFDs with this provider.

What is eToro?

eToro is a digital investing and trading platform founded in 2007. It combines investing, active trading, market commentary and social features in one environment.

Instead of just showing a buy/sell order screen, eToro also gives you access to:

• investor feeds and profiles
• public portfolio information from Popular Investors
• market updates and commentary
• CopyTrader
• virtual portfolios
• stocks and ETFs
• cryptocurrency
• CFDs on currencies, commodities, indices, stocks and crypto
• Smart Portfolios and thematic investing solutions

So eToro is more than a CFD broker.

It's a platform for users who want a combination of investing, learning and trading.

This makes eToro particularly relevant for people who find traditional trading platforms too technical, too anonymous, or not educational enough.

At the same time, the social element means you need to be extra aware of your own risk. Seeing other users post high returns can create the impression that trading is easier than it actually is.

It isn't.

Regulation and safety

eToro is regulated differently depending on which market the client is in, since the group operates several separate, locally regulated companies. For European clients, it's normally eToro (Europe) Ltd that applies, regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 109/10. In the UK it's eToro (UK) Ltd, regulated by the FCA (FRN 583263), and in Australia eToro AUS Capital Limited under ASIC.

Investor protection follows the entity: clients under the CySEC licence are normally covered by the Cyprus Investor Compensation Fund (ICF), up to EUR 20,000, while UK clients are covered by the FSCS, up to £85,000. Worth knowing: eToro doesn't offer CFD trading to US clients at all, since CFDs aren't permitted for US retail clients — the US entity instead trades stocks and cryptocurrency under separate SEC/FINRA regulation.

CopyTrader: eToro's key feature

CopyTrader is why eToro stands out from most other brokers.

The feature lets you choose an investor on the platform and automatically mirror their portfolio allocation and future trades, in proportion to the amount you allocate.

You choose:

• who you want to copy
• how much capital you want to allocate
• whether to include existing open positions
• whether to set a maximum loss limit
• when to stop copying

eToro states that the minimum amount to copy one investor is $200. There's also a minimum of $1 per individual copied position.

How CopyTrader works

CopyTrader is free to use in the sense that eToro doesn't charge a separate copying fee. You still pay the usual costs, such as spread, currency conversion, transaction costs or CFD financing, whenever the underlying trades trigger them.

CopyTrader is not a shortcut to returns

Copy trading is useful, but it shouldn't be misunderstood.

You're not copying a guarantee.

You're copying a person's current and future portfolio choices.

An investor may have had good historical returns because the market has favoured their strategy. That doesn't mean the same strategy will work next year, next quarter, or next month.

So look at more than just returns.

eToro stresses that CopyTrader is not investment advice, and that past performance is not a reliable indicator of future returns.

Social trading: learning, insight and community

eToro is often described as a social trading platform because users can follow each other, read market posts, comment on investment ideas, and see how certain Popular Investors have built their portfolios.

This can be an advantage for new investors.

Traditional trading can be lonely. Many people open an account, look at price charts, and start trading without a plan, without a strategy, and without anyone to learn from.

eToro instead lets you:

• follow investors with different strategies
• read market commentary
• observe how others handle volatility
• see portfolio composition
• learn the difference between stock investing and CFD trading
• understand how risk level varies between investors
• follow thematic market discussions

But social trading also has a weakness:

It can make you trust a profile more than your own risk assessment.

An investor with many followers isn't necessarily the best investor for you. An investor with high returns over the past twelve months isn't necessarily the one with the lowest risk going forward.

So use eToro as a learning environment — not as an autopilot.

Stocks and ETFs at eToro

eToro isn't just a CFD platform.

In many cases, users can buy stocks and ETFs directly, without leverage and without a CFD structure. But this depends on the product, order type, jurisdiction and how you set up the trade.

It's important to read the order window before you click "Open Trade".

If you open a regular, non-leveraged buy position in an available stock or ETF, you can get direct exposure to the underlying instrument.

If you go short, use leverage, or trade an instrument where direct ownership isn't offered, the trade can be executed as a CFD.

eToro states that short positions and leveraged positions in stocks and ETFs are executed as CFDs. Some non-leveraged buy positions can also be CFDs for regulatory or product-specific reasons, and such positions are labelled as CFDs in the order or execution window.

Is it still 0% commission on stocks?

The cost picture at eToro is more nuanced than a blanket promise of 0% stock commission.

eToro states that stock trades can carry a flat fee of $1 or $2 on opening and closing, depending on country and exchange. ETF trades are stated at 0% commission.

So check the cost picture in the order window before you trade, especially if you combine stocks, ETFs and CFDs in the same account.

CFD trading at eToro

eToro offers CFDs on a range of markets, including:

• currency pairs
• indices
• commodities
• stocks
• ETFs
• cryptocurrency
• select thematic markets

CFDs let you go long or short without owning the underlying asset.

This can be useful if you:

• think a stock is going to fall
• want to short the Nasdaq 100
• want to trade gold, oil or silver
• want to trade EUR/USD or USD/NOK
• want to speculate on Bitcoin moves
• want to hedge part of a stock portfolio short-term

But CFDs carry a high level of risk.

You can lose money quickly because CFDs use leverage. That means small market moves affect the entire position, not just the margin you've deposited.

52% of retail investor accounts lose money when trading CFDs with this provider.

CFD costs at eToro

CFD costs at eToro depend on the instrument.

eToro states a 0.15% CFD spread on stock and ETF CFDs per side. For crypto CFDs, it states 1% on opening and 1% on closing.

This means eToro isn't necessarily the cheapest option for very active scalping in stock or crypto CFDs.

For a trader placing many small trades every day, these costs can add up significantly.

For an investor holding regular, non-leveraged stock or ETF positions, the cost picture is often more relevant than the CFD spread.

Overnight financing: important for CFD traders

One of the most underrated costs in CFD trading is overnight financing.

If you hold a CFD position overnight, eToro will normally calculate a financing cost or credit, depending on the instrument, direction, interest rates and market conditions.

eToro states that overnight fees for CFD positions are calculated every weekday at 21:00 GMT, or 22:00 GMT during summer time. Fees can change with market conditions and can also affect positions that are already open.

For stock and ETF CFDs, eToro states that leveraged long positions carry an annual financing cost based on 6.4% plus the relevant reference rate, while short positions in easily accessible stocks can have zero borrow cost. Hard-to-access stocks can carry higher costs.

This means CFDs are normally best suited to:

• intraday trading
• short-term swing trading
• tactical positions
• short-term hedging
• markets you don't want to own directly

CFDs are less suited to:

• multi-year stock investing
• leveraged positions held for months
• frequent crypto CFD trading with high costs
• trading without a plan for swap, spread and financing

Cryptocurrency at eToro

eToro offers cryptocurrency as part of its multi-asset platform.

The platform states more than 200 cryptocurrencies after expanding its range in 2026.

Crypto can be traded either as direct crypto positions or as CFDs, depending on country, product, leverage and order type.

It's important to distinguish between these.

eToro states that crypto CFDs and leveraged crypto positions can accrue overnight financing.

Crypto suits users who want to bring stocks, ETFs and digital assets together in one app.

But it's important not to let a simple app make crypto feel like a simple market.

Cryptocurrency remains highly volatile, and CFD leverage makes the risk significantly higher.

Norwegian adaptation: what works — and what's missing?

eToro offers Norwegian language on its website, customer pages and information materials. There's also a specific tax report solution for Norwegian tax purposes, with reporting in NOK and in Norwegian or English.

That's a positive.

But eToro isn't as tailored to Norway as Skilling.

What eToro offers Norwegian users

• Norwegian language across parts of the platform and help centre
• a Norwegian tax report for qualifying users
• bank transfers in NOK
• Trustly payments from Norway
• access to CFDs and international markets
• possible use of a EUR account where available to the customer

eToro states that Norwegian customers can use Trustly for online bank payments, but that Trustly deposits are offered in EUR and GBP. Regular bank transfer can be supported in NOK, but processing and any conversions depend on the account type and payment method chosen.

What eToro doesn't offer in the same way as Skilling

eToro requires document-based verification with proof of identity and proof of address. The Norwegian help page describes uploading a passport, driving licence or government-issued ID, along with proof of address such as a bank statement, bill, or official document.

That means eToro doesn't have the same BankID advantage as Skilling.

eToro also offers customer support and Norwegian language in its help centre, but we haven't found an official statement that customer service is based in Norway, or that eToro has a Norwegian customer service department the way Skilling does.

That's an important difference for Norwegian users.

For a Norwegian trader who prioritises simple local onboarding, BankID and local support, Skilling is stronger.

For a user who prioritises social trading, CopyTrader and a combined investing platform, eToro is stronger.

Withdrawals, accounts and currency conversion

eToro uses USD as the main currency on its investment account, but qualifying users can also have accounts in a local currency such as EUR, GBP, AUD or DKK, depending on residence and availability. NOK is not listed as a local eToro account currency.

That means Norwegian users should be aware of currency conversion.

If you deposit NOK into a USD account, a conversion cost can apply.

eToro states that converting NOK to USD can cost 1% via card, bank transfer or certain payment methods, with the exact cost depending on payment method and account type.

Withdrawal fee

eToro states that withdrawals from a USD account normally carry a flat fee of $5, with a $30 minimum withdrawal. Withdrawals from a local currency account can be fee-free, but availability of a local account depends on residence and account type.

This isn't necessarily a big problem for an investor who withdraws money rarely.

But for an active trader making frequent deposits and withdrawals, it's a cost worth factoring in.

Demo account: one of eToro's best features for beginners

eToro offers a virtual portfolio with $100,000 in virtual funds.

This lets users test the platform, CopyTrader, stocks, ETFs, CFDs and crypto without risking their own capital.

A demo account is especially useful for understanding:

• the difference between stocks and CFDs
• how leverage affects your result
• how CopyTrader actually works
• how a stop-loss is set
• what portfolio allocation looks like
• how costs affect positions
• how a crypto CFD differs from direct crypto exposure
• how market moves affect psychology

But a demo account has limitations.

You don't feel the same pressure losing virtual money as you would losing your own.

So use the demo to learn the platform and the process — not as proof that you're ready for high leverage live.

eToro vs Skilling

Choose eToro if you:

• want CopyTrader
• want to follow and learn from other investors
• want a simple, social platform
• want to combine stocks, ETFs, crypto and CFDs
• want to use a demo account and virtual portfolio
• prefer a mobile and web experience over advanced trading software
• want a Norwegian tax report if you meet the requirements

Choose Skilling if you:

• want to use BankID
• want Norwegian customer service in Norway
• use TradingView daily
• want cTrader or MetaTrader 4
• actively trade currencies, gold, oil or indices
• prioritise CFD trading over social investing
• want more local onboarding and account follow-up

eToro vs futures

eToro is not a futures broker.

You can trade CFDs that track markets where futures also exist, but that isn't the same as trading exchange-listed futures contracts.

eToro can be better if you want to use small, flexible positions, invest in stocks and ETFs, trade crypto, or use CopyTrader.

Futures can be better if you want to:

• follow actual futures volume
• use the order book and DOM
• analyse order flow
• trade standardised contracts on CME or ICE
• trade Micro Nasdaq, Micro Gold, oil or interest rates
• use a futures-specialised platform
• avoid ongoing CFD financing on cash products

eToro pros and cons

Who is eToro a good fit for?

eToro is particularly well suited to four types of users.

The social investor

You want to learn from others, follow portfolios, and see how experienced investors think about the market.

You don't necessarily want to trade yourself every day, but want to build knowledge and exposure over time.

The new investor

You want a simple platform with stocks, ETFs, crypto and a demo option.

You don't want to start with complicated futures contracts, advanced technical analysis, or large margin positions.

The person who wants to combine investing and trading

You want to own stocks and ETFs, but also take tactical positions in gold, oil, currencies or indices.

The person who wants to use CopyTrader deliberately

You understand that copy trading isn't a guarantee, but want to use other people's strategies as part of a broader portfolio.

Who is eToro less of a fit for?

eToro is less suitable if you:

• want BankID
• need Norwegian customer service in Norway
• want to trade futures directly
• use TradingView as your primary order platform
• need cTrader, MT4 or MT5
• are an active scalper placing many short trades
• want DOM, order flow or a central futures order book
• want to avoid converting NOK to USD
• need direct access to Norwegian stocks via VPS or ASK-style tax wrappers
• want advanced options strategies or professional derivatives tools

How to open an account with eToro

Step 1: Create an account

Register your email, password and personal details.

Step 2: Verify your identity

eToro requires documentation of identity and address.

You'll normally need to upload:

• a passport, driving licence or government-issued ID
• proof of address, such as a bank statement or official document
• any other documentation eToro may request

eToro states that proof of identity and address is mandatory before your account can be fully verified.

Step 3: Decide whether to start with the virtual portfolio

Feel free to start with the virtual portfolio before depositing your own money.

Step 4: Deposit funds

Norwegian customers can use bank transfer in NOK, but should be aware of possible conversion to USD and any fees. Trustly is available to Norwegian customers, but offered in EUR or GBP.

Step 5: Choose your product deliberately

Always check whether you're buying:

• a direct stock
• an ETF
• cryptocurrency
• a CFD
• a leveraged position
• a short position

Don't assume every "buy" order means direct ownership.

Step 6: Start with low risk

Begin with small amounts, small position sizes, and little or no leverage.

Don't start CopyTrader with your entire investment capital either.

Test the platform and learn how costs, currency and positions actually work.

eToro review: our final verdict

eToro earns 9.0/10 because the platform offers a combination few other brokers can match:

• social trading
• CopyTrader
• stocks
• ETFs
• crypto
• CFDs
• a demo account
• a simple mobile and web platform
• Norwegian language and tax report for qualifying Norwegian users

eToro isn't the best at everything.

Skilling is better for BankID, Norwegian customer service, TradingView integration, cTrader and active CFD trading.

Futures brokers are better for exchange-listed futures, volume, order flow and standardised contracts.

But eToro is very strong for users who want to combine investing and trading in one environment — and who see value in being able to learn from, follow, and potentially copy other investors.

Our score: 9.0 / 10

eToro is best suited to traders and investors who want social trading, CopyTrader, stocks, ETFs, crypto and CFDs on one simple platform.

Capital at risk: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 52% of retail investor accounts lose money when trading CFDs with this provider. Copy trading is not investment advice. Past performance is no guarantee of future results.

Frequently asked questions about eToro