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Is eToro Good For Beginners?

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eToro is a beginner-friendly online broker and offers straightforward mobile and web platforms. It provides access to reliable educational tools and customer service. eToro is the leading social trading broker in 2021, with access to helpful research and educational tools.

eToro XTB Trading 212
Web platform score4.4 stars4.4 stars4.9 stars
Mobile platform score4.9 stars4.4 stars4.9 stars
FeesLowLowAverage
Account opening score5.0 stars5.0 stars4.5 stars
Education score3.5 stars5.0 stars4.0 stars
Customer service score3.3 stars4.4 stars1.0 stars
Deposit and withdrawal score3.5 stars4.5 stars4.3 stars

This article discusses whether eToro is a good choice for new investors.

CFD Brokers & Beginners

eToro is a forex and CFD broker that offers beginner-friendly services. There is a straightforward web platform with a user-friendly design. We recommend eToro for beginner traders if they want to trade currencies. We do not recommend beginning traders use CFDs at any broker as they are a complex trading instrument.  Experienced traders who are new to CFDs will appreciate the professional tools and platforms at eToro. Read our in-depth reviews to learn more about the asset portfolio available at Plus500.

Beginner-Friendly Services At eToro

We review online brokers based on 105 criteria. Our results depend on various factors, including ease of access, tools, and safety.

eToro is a good fit for new investors because of its straightforward platforms. The mobile app at eToro is well-designed and offers a good search function. eToro offers a demo account to test its services.

This online broker has low minimum deposits and low-cost transactions. It is a good fit for beginners, as it has a transparent fee structure and account opening process.

Safety

Safety is an important aspect we review. eToro has top-tier licenses from the FCA and ASIC. It offers access to secure platforms and account authentication methods.

Final Verdict

eToro is a leading social trading broker in 2021 recommended for both professionals and new investors. It offers access to excellent trading platforms, features, and trading instruments. Read our in-depth reviews to learn more about eToro and its beginner-friendly tools.

eToro compared to other brokers:


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.

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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.

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