eToro Account Review

eToro provides a range of account types tailored to meet diverse trading needs.

Account Types

1. Personal (Retail) Account. The default account type offered by eToro. With a personal account, you gain access to a wide array of tradable assets, the ability to copy other traders, and the option to invest in Smart Portfolios. While there are limitations on the level of leverage that can be used, personal account holders benefit from the highest level of consumer protection.

2. Professional Account. Professional account holders have the flexibility to utilize higher leverage when initiating trades. However, this option is available exclusively to clients who meet specific eligibility criteria. For more detailed information on professional accounts, please refer to the relevant resources.

3. Corporate Account. Designed for business purposes, corporate accounts are intended for use by legal entities. If you aim to trade with funds belonging to your business, this is the account type to consider opening. Additional details on corporate accounts can be found through the provided resources.

4. Islamic Account. Tailored to cater to the requirements of Muslim clients, the Islamic account is a special account type. eToro adheres to Sharia law by not charging or crediting overnight fees on Islamic accounts.

Step-by-step registration

1. Visit the eToro website.

2. On the eToro homepage, look for and click on the button marked "Sign up." This will initiate the account registration process.

3. You will be directed to a web page where you'll find an electronic form. This form is where you'll enter all the personal data required to create a new trading account. You'll need to provide your name, email address, and more information.

4. Fill in all the relevant information requested in the form accurately. Additionally, eToro offers the option to log in using your Facebook or Gmail accounts for added convenience.

5. Before submitting your information for review, it's essential to familiarize yourself with eToro's Terms & Conditions and privacy policy. These documents contain important information about the platform's rules and policies.

6. After reviewing the terms, indicate your agreement with them by checking the appropriate box, confirming your acceptance of eToro's terms and policies.

7. Once you've completed the form and agreed to the terms, submit your information by clicking the "sign-up" button. This step will send your account registration details to eToro for processing.

8. Please be aware that eToro, in compliance with Directive 2005/60/EC of the European Parliament and of the Council, requires all investors to undergo a Know Your Customer (KYC) process. As part of this process, you'll need to provide a Confirmation of Residence (e.g., a valid utility bill dated within the last 3 months) and a Proof of Identity, such as a valid passport or another officially issued photo ID. This documentation helps verify your identity and residence.

9. Additionally, you may be asked to complete a questionnaire to better understand your financial goals and risk tolerance. This information will help eToro tailor its services to your individual investment profile, ensuring a personalized experience.

10. Follow the provided instructions for document submission and questionnaire completion carefully. Once your KYC process is complete, your eToro account will be fully registered, and you'll be ready to start trading on the platform.

Account futures

eToro offers an accessible and user-friendly account experience for traders looking to engage with various financial assets. The process of getting started is straightforward, and customers have the option to use both the web-based innovative platform and a well-designed mobile app for seamless access.

To begin trading on eToro, users can deposit fiat currency from either a debit card or a bank account. This initial deposit serves as the starting point for their trading journey, enabling them to explore various asset classes.

One of the standout features of eToro is its intuitive "Trading" tab, which provides users with real-time information on current market prices. From this tab, users can execute a range of actions, including buying, selling, or converting cryptocurrencies. This simplicity and ease of use are particularly appealing to both novice and experienced traders.

eToro's claim to fame lies in its social trading functionality. Users have the unique opportunity to tap into the expertise of top traders on the platform. Through social trading, individuals can mirror the portfolio holdings and trading strategies of these experienced investors, potentially benefiting from their insights and success.

While eToro offers fundamental market and limit orders and allows non-U.S. users to engage in margin trading, it's important to note that the platform may lack some of the more advanced features found in other competitors. These advanced features can include conditional orders, comprehensive charting capabilities, and a broader range of cryptocurrency pairs for trading.

Sources

• eToro. 14.10.2023
• Investopedia. eToro Review. 14.10.2023