Updated: May 2026 - GetGlobalYields.com - Read time: ~11 min
Bottom Line: eToro is a solid platform for beginners who want a simple, visual experience. But if you’re a cost-conscious long-term investor outside the US, the hidden costs - especially currency conversion - add up fast. The fee picture varies significantly depending on your country and account type. Know what you’re getting into before you deposit.
Overall Rating: 3.8 / 5
| Category | Rating |
|---|---|
| Fees & Commissions | 3/5 |
| Currency Conversion | 2/5 |
| International Availability | 4/5 |
| Platform & UX | 5/5 |
| Copy Trading | 5/5 |
| Asset Range | 4/5 (9,000+ stocks, 1,000+ ETFs, 160+ crypto - but no bonds, futures, or real options) |
| Customer Support | 3/5 |
| Ease of Use | 5/5 |
Who This Review Is For
Most eToro reviews talk about how great the copy trading feature is. Fine. But they skip the part that matters most if you live outside the US: what does it actually cost you to use this platform?
This review is written for investors in Israel, Australia, Canada, Europe, and other countries who want to invest in US stocks and ETFs. We’ll cover the real numbers - conversion fees, withdrawal fees, and what you’re actually paying even when eToro says “zero commission.”
Quick Facts
| Founded | 2007, Israel |
| Global Presence | Offices in Cyprus, UK, US, Australia and more |
| Regulation | FCA (UK), CySEC (EU), ASIC (AU), SEC (US), GFSC (Gibraltar) |
| Countries accepted | 75+ |
| Minimum deposit (most countries) | From $50 (varies by country) |
| Minimum deposit (Israel) | $10,000 |
| Stock/ETF commissions | $0 |
| Crypto trading fee | 1% spread |
| Currency conversion fee (ILS) | ~1.5% |
| Currency conversion fee (EUR/GBP) | ~0.5% or less |
| Withdrawal fee (USD accounts) | $5 per withdrawal |
| Withdrawal fee (EUR/GBP accounts) | Free |
| Inactivity fee | $10/month after 12 months |
| SIPC protection | Yes (US clients only) |
What Is eToro?
eToro launched in 2007 and built its name on one thing: making investing feel social. The idea was simple - let beginners copy the trades of experienced investors automatically. No research, no complicated analysis. Just find someone with a good track record and mirror their portfolio.
It worked. Today eToro has over 38 million registered users across 75+ countries, supports 19 languages, and provides access to more than 10,000 financial instruments, making it one of the most recognized brokers in the world.
But popularity and quality aren’t the same thing. Let’s break down what eToro actually delivers.
Fees and Costs - The Real Picture
This is where most reviews get eToro wrong. They say “zero commission” and move on. The reality is more complicated - and it varies significantly depending on where you live.
Stock and ETF Trading
eToro charges $0 commission on real stock and ETF trades. That part is true. But the cost doesn’t disappear - it shifts.
The spread: On popular stocks like Apple or Microsoft, the spread is tight and barely noticeable. On smaller stocks or ETFs with lower volume, spreads widen and you’re effectively paying a fee you never see itemized.
Currency Conversion - It Depends on Your Country
Here’s what catches most international investors off guard - and where the picture is more nuanced than most reviews admit.
For Israeli investors (ILS): eToro converts NIS to USD at approximately 1.5%. This applies on deposit and again on withdrawal. On a $10,000 round trip, that’s $300 in conversion costs alone.
For European investors (EUR) and UK investors (GBP): eToro now offers EUR and GBP account types with significantly lower conversion fees - sometimes around 50 pips (~0.5%) or less. eToro Club members (higher tier accounts) may get even better rates or fee waivers on recurring deposits. This is a meaningful improvement over the old flat 1.5%.
The practical rule: If you’re depositing in ILS, you’re still paying ~1.5%. If you’re in the EUR/GBP zone, check your specific account type - you may be paying considerably less.
| Institution | Conversion fee on $10,000 (ILS to USD) |
|---|---|
| eToro (ILS account) | $150 (1.5%) |
| Wise | $35-50 (0.35%-0.5%) |
| Interactive Brokers | ~$2 (minimum FX commission) |
| Israeli bank | $100-200 (1%-2%) |
Real Cost Comparison - Annual $50,000 Investment in ILS
This is what the numbers actually look like for an Israeli investor depositing $50,000 per year:
| Broker | Annual conversion cost | 10-year cumulative cost |
|---|---|---|
| eToro (ILS) | $750 (1.5%) | ~$7,500 |
| Wise + Firstrade | $175-250 (0.35-0.5%) | ~$2,000 |
| Interactive Brokers | ~$2 (minimum FX commission) | ~$20 |
Over a decade, the conversion fee alone costs an eToro/ILS investor ~$7,500 more than IBKR. That’s real money.
Withdrawal Fee
USD account holders pay $5 per withdrawal - a flat fee. For large withdrawals it’s minor, for small ones it’s proportionally significant.
EUR and GBP account holders pay no withdrawal fee. This is a real advantage for European investors.
Inactivity Fee
If you don’t log in or make any activity for 12 consecutive months, eToro charges $10/month until your balance hits zero or you become active again. Not a dealbreaker, but worth knowing.
CopyTrader™ - Where eToro Actually Shines
CopyTrader™ is eToro’s strongest feature and honestly, nothing else in the industry comes close to how well they’ve built it.
The concept: you find a “Popular Investor” on the platform, allocate money to copying them, and every trade they make gets mirrored in your account proportionally. If they put 5% of their portfolio into Tesla, your copy puts 5% of your allocated amount into Tesla.
What works well:
- Transparent performance stats going back years
- Risk scores for each investor (1-10 scale)
- Drawdown history clearly displayed
- You can see exactly what they hold
- Start with as little as $200 per copied investor
- Stop copying anytime with one click
What to watch out for:
- Past performance is genuinely not a predictor of future results - this is especially true for copy trading where strategy drift is common
- Popular Investors earn a monthly payment based on how many copiers they have, which creates an incentive to look good on metrics rather than make genuinely good decisions
- When you stop copying, all positions close - which can trigger tax events
If you want a hands-off, diversified approach and you’ve factored in the conversion costs, copy trading on eToro is genuinely impressive.
Smart Portfolios
Beyond individual investor copying, eToro offers 100+ Smart Portfolios - themed collections of assets grouped around a strategy or market trend. There are three types:
- Top Trader portfolios - bundles of the best-performing Popular Investors on the platform
- Market portfolios - themed collections like “Tech Giants” or “Renewable Energy”
- Partner portfolios - built with external partners like TipRanks and Meitav Dash
These are managed by eToro’s investment team and rebalanced periodically. Minimum investment is usually $500-$1,000.
Think of them as eToro’s version of a thematic ETF - but with higher minimum investment and less liquidity than a real ETF. For most investors, an actual ETF like QQQ or ARKK will do the same job at lower cost.
Platform and User Experience
This is where eToro genuinely earns its reputation. The platform is the most intuitive in the industry for new investors.
Web platform:
- Clean, modern design
- News feed showing what other investors are buying
- One-click trading
- Portfolio view that’s easy to read at a glance
- Research and analyst ratings built in
Mobile app:
- Mirrors the web experience almost perfectly
- Push notifications for price alerts
- Clean charting
- Available in Hebrew (significant advantage for Israeli investors)
eToro Club: A tiered membership program (Silver → Diamond) offering perks like lower fees, priority support, exclusive market analysis, and interest on cash balances. Higher tiers also unlock dedicated account managers.
What’s missing:
- No real options trading (only CFD options, which are different)
- Advanced charting available through TradingView integration with 100+ indicators (RSI, Bollinger Bands, and more), although professional traders may still prefer platforms like Interactive Brokers TWS
- No futures
- No bonds
For a beginner who just wants to buy Apple stock and maybe copy a few investors - the platform is excellent. For a more advanced investor who wants options, advanced charting, or futures - eToro isn’t the right tool.
What You Can Trade on eToro
| Asset Class | Available | Notes |
|---|---|---|
| US Stocks | Yes | Real shares, $0 commission |
| ETFs | Yes | Real shares, $0 commission |
| Crypto | Yes | 160+ coins, 1% spread, crypto wallet where available |
| CFDs | Yes | EU/UK clients - leveraged products |
| Options | No | CFD options only (different product) |
| Futures | No | Not available |
| Forex | Yes | Spread-based, CFD only |
| Bonds | No | Not available |
Fractional shares: eToro allows investors to buy fractional shares, making expensive stocks like Amazon or Google accessible to smaller portfolios.
Important note: eToro offers both real stocks/ETFs and CFDs depending on the position type and region. A non-leveraged BUY position in stocks generally means purchasing the underlying asset, while leveraged positions and short (SELL) trades are executed as CFDs.
Good news for Israeli investors: Israeli clients typically receive real shares (not CFDs), which is better from both a tax and ownership perspective.
eToro for International Investors - Country by Country
Israeli Investors
eToro is fully available in Israel and is one of the more popular platforms among Israeli retail investors. A few things stand out for this market specifically:
- Hebrew app and Hebrew customer support - one of very few international brokers that offer this
- Minimum deposit: $10,000 - significantly higher than most other markets. This is a real barrier for new investors
- Currency conversion: ~1.5% on NIS deposits - one of the highest in the industry for this currency pair
- Real shares - Israeli clients receive actual share ownership, not CFDs
- Israeli tax: Capital gains tax of 25% applies. Dividend withholding is typically 15% with a valid W-8BEN form (reduced from 30% under the US-Israel tax treaty). eToro provides annual statements but you file your own tax report in Israel
Bottom line for Israelis: The Hebrew interface and support are genuine advantages. The $10,000 minimum and 1.5% conversion fee are real disadvantages. For investors who have $10,000+ and want a simple Hebrew-language experience, eToro works. For everyone else, IBKR is more cost-effective.
Withholding Tax on Dividends - What Every International Investor Needs to Know
| Investor Country | Default withholding | With W-8BEN | Notes |
|---|---|---|---|
| Israel | 30% | 15% | US-Israel tax treaty |
| UK | 30% | 15% | US-UK tax treaty |
| Germany | 30% | 15% | US-Germany tax treaty |
| Australia | 30% | 15% | US-Australia tax treaty |
| Canada | 30% | 15% | US-Canada tax treaty |
eToro collects the W-8BEN form during account opening. Make sure it’s submitted and active - otherwise you’re paying double the withholding rate.
Australian Investors
eToro Australia is regulated by ASIC, which provides strong investor protections. AUD deposits are accepted. EUR/GBP account improvements don’t apply here - AUD conversion still carries a meaningful fee. Check current rates before depositing.
European Investors
EUR account holders benefit from the improved conversion rates (around 0.5% or less). Free withdrawals apply. The main caveat: some products are CFDs rather than real shares due to EU regulations. For basic stock and ETF investing, the experience is straightforward and competitive.
Canadian Investors
eToro is available in Canada but with some restrictions. Options and CFDs may not be available depending on province. The core stock and ETF trading works fine.
eToro vs The Competition
| Feature | eToro | IBKR | Firstrade | tastytrade |
|---|---|---|---|---|
| International availability | 75+ countries | 150+ countries and territories | Many countries | Select countries |
| Min. deposit | $50-200 (most) / $10,000 (Israel) | $0 | $0 | $0 |
| Stock commissions | $0 | $0.35 min | $0 | $0 |
| Currency conversion (ILS) | 1.5% | ~0.002% (min. fees apply) | USD only | USD only |
| Currency conversion (EUR/GBP) | ~0.5% | ~0.002% (min. fees apply) | USD only | USD only |
| Copy trading | Yes - best in class | No | No | No |
| Options trading | No (real options) | Yes | Yes | Yes - best in class |
| Interest on cash | Yes (eligible clients, up to 3.55%) | Yes (competitive) | No | No |
| Hebrew support | Yes | No | No | No |
| Platform complexity | Very easy | Complex | Easy | Moderate |
| Best for | Beginners, copy trading | All-around, FX | Beginners | Options traders |
For a full comparison, see our Best Brokers for International Investors guide and Broker Finder tool.
Who Should Use eToro?
eToro makes sense if:
- You’re new to investing and want the simplest possible experience
- Copy trading genuinely interests you and you’ve done your homework on who to copy
- You’re in Israel and want Hebrew-language support (and meet the $10,000 minimum)
- You’re a European investor benefiting from the improved EUR/GBP conversion rates
- You want crypto alongside stocks in one account
eToro is probably not the right choice if:
- You’re an Israeli investor depositing ILS regularly - the 1.5% fee accumulates significantly
- You want to trade options (real options, not CFDs)
- You’re building a large long-term portfolio where fee efficiency matters
- You need advanced charting or algorithmic tools
- You want the most competitive interest rates on uninvested cash (IBKR still leads here)
Virtual Portfolio
eToro offers a $100,000 virtual account that lets you practice trading without risking real money. You can test CopyTrader™, Smart Portfolios, and all platform tools in real market conditions. It’s one of the better demo accounts in the industry - no time limit, no pressure.
eToro Academy
eToro provides a full library of educational content for all experience levels:
- Beginner and advanced video courses
- Guides and explainers on stocks, ETFs, crypto, and more
- Podcasts and market updates
- A structured curriculum with a summer school format
For new investors especially, this is a genuine asset.
Account Opening Process
Opening an eToro account is one of the fastest in the industry.
Deposit methods: Bank transfer, credit/debit cards, PayPal, Skrill, Neteller, and more (availability varies by country).
- Go to etoro.com and click “Join Now”
- Enter email, username, and password
- Complete identity verification - passport or national ID, proof of address
- Answer financial profile questions and submit W-8BEN
- Make your first deposit
Approval is usually instant or within a few hours. Israeli investors: the minimum deposit is $10,000. For most other countries, the minimum starts from $50 depending on country.
Is eToro Safe?
Yes, eToro is a legitimate and regulated broker.
- Regulated by FCA (UK), CySEC (EU), ASIC (Australia), SEC (US), and GFSC (Gibraltar)
- Real shares held in your name for stock positions in most markets (including Israel)
- Client funds held separately from company funds
- Operating since 2007 with no major regulatory incidents
The safety of the platform isn’t the issue. The question is whether the costs work for your situation.
Frequently Asked Questions
Does eToro charge commission on stocks? No - stock and ETF trades are $0 commission. The cost comes from the bid-ask spread and currency conversion fees on non-USD deposits.
What is the minimum deposit for Israeli investors? $10,000. This is significantly higher than most other countries where the minimum starts from $50. It’s a real barrier for new Israeli investors.
What is the currency conversion fee on eToro? It depends on your account currency. ILS deposits pay approximately 1.5%. EUR and GBP account holders may pay around 0.5% or less, especially on eToro Club tiers. Check your specific account type.
Can I trade options on eToro? Not real options. eToro offers CFD options in some regions, but these are a different product with different risk characteristics. For real options trading, look at IBKR or tastytrade.
Is eToro available in Israel? Yes, with Hebrew app and Hebrew customer support. The minimum deposit is $10,000 and conversion from NIS carries a ~1.5% fee.
What happens to my stocks if eToro goes bankrupt? For real stock positions (not CFDs), your shares are held separately. EU clients have protection under the Investor Compensation Fund. UK clients under FSCS up to £85,000.
Does eToro pay interest on cash? Yes, for eligible clients. eToro offers up to 3.55% annual interest on uninvested cash balances through its Interest on Balance program. Eligibility and rates depend on your region and eToro Club tier. IBKR still offers more competitive rates broadly, but this is no longer an eToro weakness across the board.
What is the withdrawal fee? USD account holders pay $5 per withdrawal. EUR and GBP account holders withdraw for free.
Does eToro report to Israeli tax authorities? eToro provides annual statements showing your gains, losses, and dividends. You are responsible for filing your own tax return in Israel. Capital gains are taxed at 25%, dividends at 15% (with valid W-8BEN under the US-Israel treaty).
Final Verdict
eToro is a well-built platform that does exactly what it promises: making investing simple and social. For beginners, the experience is genuinely excellent. Copy trading is the best implementation of that concept in the market.
But “simple” has a price that varies depending on where you live. Israeli investors face a $10,000 minimum and ~1.5% conversion costs. European investors in EUR/GBP get a better deal - closer to 0.5%. The lack of real options trading, limited advanced tools, and higher costs for certain currencies remain the main limitations depending on the investor’s needs and country of residence.
Use eToro if you want copy trading and a beautiful, simple interface - and you’ve done the math on your specific conversion costs.
Use IBKR instead if you’re building a serious long-term portfolio, you convert currency regularly, or you want options trading.
Many investors keep both - eToro for copy trading with a smaller allocation, IBKR for the bulk of the portfolio where fee efficiency matters most.
Rating: 3.8 / 5 - Strong for beginners and copy trading; less suited for cost-conscious long-term investors
⚠️ CFD Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Availability of CFD products varies by region.
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Financial Disclaimer: This review is for informational purposes only and does not constitute financial advice. Tax treatment varies by country. Always consult a qualified tax advisor and conduct your own research before opening a brokerage account.
