Page Summary
eToro is the top social trading broker with excellent account opening experience. The service is entirely online and user-friendly. The average time required for opening a new account is 24 hours.
Broker Comparison
| 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.
Available Countries
| 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.
Minimum Deposit Comparison
| 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.
Base Currencies Comparison
| 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:
eToro review
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. 68% 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 unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
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.
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.