eToro is the top social trading broker with an excellent account opening experience. The service is entirely online and user-friendly. The average time required for opening a new account is 24 hours.
| eToro | XTB | Trading 212 | |
|---|---|---|---|
| Rating | 5.0 stars | 5.0 stars | 4.5 stars |
| Account opening time | varies | 1 day | 1 day |
This article discusses the eToro account opening characteristics.
Availability
The main aspect to consider when choosing a brokerage firm is availability. eToro is available in 15 countries, including the United States, United Kingdom and UAE.
| Country | Availability |
|---|---|
| Australia | Yes |
| Canada | No |
| China | No |
| Germany | Yes |
| Hong Kong | No |
| Ireland | Yes |
| India | No |
| Japan | No |
| Malaysia | No |
| Netherlands | Yes |
| Singapore | No |
| South Africa | No |
| United Arab Emirates | Yes |
| United Kingdom | Yes |
| United States | Yes |
Requirements
eToro has transparent account opening requirements. To create an account with this brokerage firm, you’ll have to submit proof of identity and residency. eToro has a fully digital account opening process done on the broker’s web platform.
When registration is complete, you’ll have to transfer a minimum deposit to your new account. The minimum required deposit at eToro is $200. Initial fees vary depending on the funding method you choose. Check our in-depth reviews to learn about minimum deposit at eToro.
| eToro | XTB | Trading 212 | |
|---|---|---|---|
| Minimum deposit | $200 | $0 | $1 |
Accounts
A professional brokerage firm offers access to many account tiers. eToro has accounts for different trading skills and styles. The downside is that eToro only offers accounts with a base currency of USD. As such, depositing funds in currencies other than USD will lead to additional conversion fees. Read our in-depth reviews to learn insights about eToro’s accounts and fees.
| eToro | XTB | Trading 212 | |
|---|---|---|---|
| Base currencies | 1 | 5 | 9 |
Opening accounts
The steps to open an account at eToro are simple. You have to choose a brokerage account, add your personal data and proof of identity. After that, review the information and sign a virtual contract. After eToro verifies your account, you will make the initial deposit. Once the initial deposit clears, you will start trading.
Final Word
eToro is an excellent choice for traders at all levels of experience who want access to the best social trading features. It offers a smooth account opening process. Read our in-depth reviews to learn more about eToro.
eToro compared to other brokers:
Disclaimer:
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.
Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.
Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.
Disclosure
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
