eToro is a reputable online broker regulated by CySec, known for its intuitive platform, commission-free stock trading, fast account opening and an advanced social trading. We recommend eToro to beginner traders looking to invest in crypto assets, stocks and CFD.
|Regulation||FCA, ASIC, CySEC|
|Countries of regulation||UK, Cyprus, Australia|
|Tradable Assets||Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured Products|
|Deposits||Stock, Forex, ETF, Crypto, CFD|
Our top findings for eToro UAE Review
- Founded in 2007 in Israel, eToro is under regulation of top tier regulators in Cyprus, United Kingdom and Australia and considered safe (low risk).
- eToro is excellent for social copy and cryptocurrency trading. They offer a user-friendly web platform and mobile app. These are great for casual and beginning investors.
- They recently cut spread costs and introduced zero-dollar US stock trade commissions. Pricing for trading forex and CFDs remains higher than competitors. eToro’s research materials range is limited compared to peers.
eToro trading platform is interactive, easy to use and offers advanced copy trading possibilities. Copy trading is free of charge and enables users to replicate trades and portfolios from professional traders and fund managers. eToro offers a wide range of tradable assets including CFDs over stocks, currencies, crypto, indices, commodities and ETFs. Users are able to trade 1600 financial instruments.
eToro is a scam free online broker regulated by top tier financial regulators including FCA, ASIC and CySEC. In 2019, they surpassed 12 million registered users in over 100 countries which makes the company one of the biggest brokerage firms in the world.
eToro fees are average. Trading spreads are low, deposits are free if the trader deposits $500 for their first trade (in Australia or USA it is $50). Each withdrawal costs $5. There are conversion and inactivity fees. Their support response is slow but professional. Research tools and materials are average
eToro UAE Tradable Assets
eToro offers 2,365 tradable assets in CFDs over stocks, currencies, commodities, and cryptoassets. These are sufficient for most traders. Advanced users may require more investment options. eToro offers stock trading without leverage – something few traders do.
Usability: eToro provides a smooth trading experience. Investors can select between CFDs versus trading underlying assets from the trade-ticket window. A subtle and helpful practice.
Cryptocurrency: trading occurs through CFDs and trading the underlying asset (for example buying Bitcoin).
Note: Crypto CFDs are not available in the UK or offered to UK residents.
The following table summarizes the different investment products available to eToro clients.
|Forex Spot Trading||YES|
|Currency Pairs (Total Forex Pairs)||47|
|CFDs – Total Offered||2314|
|Social Trading / Copy Trading||YES|
|Cryptocurrency traded as actual||YES|
|Cryptocurrency traded as CFD||YES|
eToro AUS Capital Pty Ltd, ABN 66 612 791 803 AFSL 491139. CFDs are leveraged and risky, and may not be suitable for all investors. You may lose more than your initial investment. Trading CFDs does not result in ownership of the underlying assets. You should obtain your own advice and refer to our FSG and PDS before deciding whether to trade with us.
Commissions and Fees
eToro commission spreads are higher than the market average. Trading currencies is expensive. Other fees fall in the normal range. Traders choose eToro for their social copy-trading platform capabilities.
Spreads and Trading Fees: eToro’s typical variable spread is 1 pip on the EUR/USD. This is slightly higher than industry average. Their forex trading is expensive. eToro charges 3 pips for trading EUR/USD.
This broker favors CFDs over stocks. Their indices are higher for trading currencies. The S&P 500 CFD trading fee is 0.75. Europe CFD trading fee is 3. There is no spread charge to trade long and buy stocks not leveraged. Other platforms charge from 0.5 to 1 pip per trade.
Non-trading fees: eToro non-trading fees are higher than average. Traders pay for withdrawals and non-activity. There are no deposit or clearing fees. eToro charges a flat $5 fee for withdrawals. The minimum withdrawal amount is $30. This is not friendly to new investors.
Investors pay currency conversion fees if deposit or withdrawal is in a currency other than USD. There are crypto transfer fees and inactivity fees. There are no fees for deposits, custody, or using the platform. Copy trading is free of charge.
Deposits: minimum first-time deposit on eToro is $200. Exceptions are Australia and the USA at $50. Future deposits must be $50 or more. The only supported currency is USD. Traders’ currency will convert to USD once they transfer their portfolio.
Deposit methods: Credit Cards (Visa, MasterCard, Diners Club, and Maestro), PayPal, Neteller, and Skrill. Traders can use Wire Transfer.
The unverified accounts deposit limit is $2,250. Traders can upgrade to a verified account in their profile settings. eToro uses a digital proofing system. Traders verify their phone number and upload copies of specific documents: a copy of a passport or ID to prove identity and a recent utility bill proves residency.
eToro UAE Withdrawals
Withdrawing money is fast and simple. eToro’s withdrawal charge is $5. Traders can use a bank account, credit/debit card, or electronic wallet. The withdrawal process takes 1-8 working days
Withdrawals in currencies other than USD face conversion fees. Traders may face charges from the funding provider. It could be an intermediary bank, receiving bank, or credit card provider.
Users open an account 100% online in minutes. They can use email, Facebook, or Google.
eToro has an excellent $100,000 (virtual currency) demo account. Traders can switch between profiles with the “Virtual portfolio” button located next to their profile avatar.
To trade real money requires a two-factor identification process. Unverified accounts can deposit up to $2,000.
VIP account: eToro’s VIP club tiers its membership from silver to diamond. The VIP club is for traders with balances between $5K -$250K. Benefits vary by level. They include dedicated account managers to discounted withdrawal and deposit fees. VIP members also get access to private signals and exclusive asset benefits.
Popular Investor program: eToro’s ‘Popular Investor’ program has four levels from cadet to elite. Members receive several perks. Benefits range from spread rebates to monthly payments and a management fee for elite status traders. Popular Investor is for traders who allow other investors to copy their strategy.
Cryptocurrency trading: eToro’s pricing is average for physical cryptocurrency trading. They charge 0.75% for buying or selling bitcoin. Fiat to crypto conversion fees are high at 5%. Converting from crypto to crypto is 0.1% plus the prevailing spread. eToro trades many crypto assets, both CFDs and underlying. They are highly rated for Crypto Trading in 2021.
Exchange-Traded Securities: eToro offers a zero-dollar commission for US stock trading (unavailable to US investors). They support fractional share trading.
|Minimum Initial Deposit||$200|
|Average Spread EUR/USD – Standard||1|
|All-in Cost EUR/USD – Active||N/A|
|Active Trader or VIP Discounts||Yes|
Platforms & Tools
eToro offers a multi-asset trading platform. It combines autonomous, self-directed, and social trading in one place. They have a large variety of tradable assets, advanced technical and analytical tools, and it is easy to use.
Platform Design: eToro is a platform leader with clean design and useful functions. Their menus and buttons are well placed and clearly marked. The platform has an easy-to-use search function. The trading experience is accurate and intuitive.
Their platforms have excellent basic operations and quickly complete tasks. These include watchlists and searching available markets to add instruments. eToro lets investors place trades from each watchlist. Their design quality makes eToro a ‘Best-in-Class’ provider in both the Ease of Use and For Beginners categories for 2021.
Cryptocurrency tools: eToro users find crypto trading ideas from and copy other individual traders. They copy groups of traders across 94 supported cryptocurrency pairs. For investors looking to hold the underlying crypto assets, eToroX offers the eToro mobile wallet app. This app acts as a custodian using a multi-signature scheme. It matches their forex mobile app.
Traders cannot customize eToro’s main page. They must create a default page to support their news feed, watchlists, portfolio, and notification alerts. Notifications appear as icon updates or web browser notifications. Traders can set up smartphone push notifications.
eToro’s platform operates in 21-languages. These include English, French, Russian, Spanish, German, Italian, and Polish. There are several other European and Asian languages.
eToro is an excellent online broker for social trading. It allows users to copy trades and portfolios from professional traders.
CopyTrade: is eToro’s social trading feature. It lets traders copy the trading movements of hundreds of professionals in real-time. CopyTrade helps users learn from professional traders on approaches to the market. More than copying a portfolio, eToro created a collaborative community for traders and investors. It is a social media-like platform. Investors connect, share, and learn from each other.
Users use advanced filters to find a desired trader. These filters include return, risk score, and the number of profitable months. All portfolios are public information. eToro provides a weekly number of trades, holding times, charted performance, and profile descriptions for each trader.
eToro CopyTrade screen
Copy Portfolios: is a collection of financial assets. The selected and re-selected assets follow a predetermined strategy. eToro groups traders into a single fund investors can copy trade. CopyPortfolios helps passive eToro investors create their portfolios based on one or more CopyPortfolios. Self-directed traders use CopyPortfolios to diversify trading. This makes it useful for every eToro client. This service is a low-risk investment channel.
Copy trading structure: traders on eToro trade manually. Automated systems like MetaTrader are not permitted. When a trader copies another trader, they know each trade was placed manually. This is useful since many other social platforms aggregating trader performance permit discretionary (manual) trading and automated strategies. eToro’s network consists entirely of manual traders.
Transaction size: the minimum amount for a single CopyTrade is $200. The maximum is $500,000. Traders copy 100 traders at one time. Trades execute less than one second after the trader copied executes theirs. There is no charge for copying another trader(s). Traders pay spread charges on trades and/or transaction fees.
eToro’s research is competitive, not award-winning. They provide a comprehensive list of technical tools, charts, and newsfeeds. Most though lack fundamental data. Traders research markets analyzing recommendations or market sentiment indicators. These include analyst consensus, price targets, hedge funds, and insider trading sentiments. They are useful tools, available for the best-known stocks.
Tools and charts: eToro has a good set of charting tools and indicators. These include a standard economic calendar, earnings reports calendar, news headlines, daily market analysis series, and podcasts. Many features don’t integrate into the eToro platform.
Charts save automatically. Traders do not have to set up new indicators every time they visit the platform. There are 70 indicators from which to choose including:
- Bollinger Bands
- Stoch RSI
Newsfeed: The news feed is not an official feed. It is like a post-board. eToro uses a Twitter-style wall feed of collective commentary. The public feed is a stream of updates from other eToro users. The content sourced by eToro users varies in quality. Users and analysts post messages. eToro includes hashtags # for themes and $ signs for assets. We recommend traders use this with caution. Many users are not professional traders and posts are their opinions.
Fundamental Analysis: eToro does an excellent job incorporating fundamental analysis into its platform. And eToro trails leaders IG and Saxo Bank. There are few articles from eToro’s in-house staff under market analysis.
Sentiment data: Rather than show sentiment based on every user, only top traders at eToro are used to calculate sentiment data. This makes it a step above usual broker sentiment tools. It is comparable to CMC Markets sentiment data.
Education is another area eToro performs below-average compared to its competitors. It is limited, but to be fair, eToro is stepping up its game.
eToro offers guides, videos, webinars, blogs, and a podcast. They vary in both quality and quantity. Their blog site is up-to-date and relevant. They created a complete guide to fintech. Refreshing is their recently launched podcast on investment and other financial topics. Their profile has a “Help” option which takes the investor on a quick, 2-minute tutorial of how to use the platform. It could be more comprehensive.
eToro customer support is via email and live chat. They do not have telephone service. It is one of the weaker parts of their offering.
Customer service operates in several languages including English, Spanish, Italian, German, Russian, French, Polish, Chinese, and Arabic.
Opening a live chat through the trading interface creates a support ticket. Response time is less than 24 hours. Responses are professional. They do not cover the whole question or parts of the answer are not relevant.
eToro provides an excellent mobile experience. The eToro mobile trading platform is both user-friendly and has a nice interface. The mobile app works on iOS and Android devices.
The mobile App maintains the web version look and feel. Mobile functions include push notifications and extra touch options. It has both a dark and light theme. Functionality like syncing watchlists unifies the device experience across platforms.
Charting: mobile charts are responsive and match the web platform, despite 5 indicators compared to the Web’s 67. Drawing tools are missing from the mobile app. They would be helpful. Charts are integrated and function, despite a lack of drawing tools.
Cryptocurrency wallet: eToro’s Wallet is a separate mobile app. Users deposit and withdraw cryptocurrencies held by eToroX. They act as custodians of private keys and brokers. The eToro Wallet resembles the look and feel of the eToro mobile app, including support for social trading.
eToro UAE Special Features
eToro is available to UAE citizens although it is not regulated by the local authorities DFSA and ADGM. eToro does not have a local office in the United Arab Emirates or Dubai. This broker is regulated by top tier financial regulators also covering the United Arab Emirates and is considered safe for Gulf citizens. The minimum deposit for eToro UAE users who are using an Islamic account is USD 1,000.
eToro offers islamic accounts for people who want to follow the Quran and Islamic finance restrictions while investing.
Does eToro Work in UAE?
eToro works with all features for citizens in UAE. There are no restrictions and no special requirements for UAE users. eToro does not have a local office in United Arab Emirates yet.
Is eToro Legal in UAE?
eToro is regulated by top tier financial regulators from the GCC and is legal in UAE.
eToro is available in Dubai without any restrictions. eToro does not have a representative office in Dubai.
eToro is the best social trading broker with a solid trading platform and fast trade execution. They are an excellent online broker for those trading stocks, cryptoassets, and CFDs. They provide a user-friendly trading platform. A market leader in advanced copy trading, they feature simple account opening, a feature-rich trading platform, fast trade execution, and zero commission stock trades. The trading of US-listed ETFs and stocks is free of charge.
eToro customer support has few options and poor response times. Educational materials and tools are basic. Their research includes a less than optimal news feed bulletin board and non-professional user-generated advice should be followed with care.
We recommend this online broker to beginner and medium experienced traders.
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.75% 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. Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
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- 1 eToro UAE Tradable Assets
- 2 Commissions and Fees
- 3 eToro UAE Withdrawals
- 4 Platforms & Tools
- 5 Research
- 6 Education
- 7 Customer Service
- 8 eToro UAE Special Features
- 9 Conclusion