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Contents

10 Best Investment Apps of 2020

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

You can do just about anything on your phone — including invest, thanks to a variety of investment and stock trading apps.

All of the brokers on our list of best brokers for stock trading have high-quality apps. But if mobile trading is most important to you, these 10 investing apps are NerdWallet’s picks for the best of 2020. (Need more info to get started? Read our primer on how to buy stocks.)

on TD Ameritrade’s website

TD Ameritrade

cash credit with qualifying deposit

on TD Ameritrade’s website

cash credit with qualifying deposit

Commission-free stock, ETF and options trades.

High-quality trading platforms.

No account minimum.

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Good customer support.

Large investment selection.

Costly broker-assisted trades.

on Robinhood’s website

Robinhood

no promotion available at this time

on Robinhood’s website

no promotion available at this time

No account minimum.

No retirement accounts.

No mutual funds or bonds.

Limited customer support.

on Stash Invest’s website

Stash Invest

cash credit to invest with qualifying deposit

on Stash Invest’s website

cash credit to invest with qualifying deposit

Educational content and support.

Values-based investment offerings.

No investment management.

High ETF expense ratios.

on Acorns’s website

Acorns

no promotion at this time

on Acorns’s website

no promotion at this time

Automatically invests spare change.

Cash back at select retailers.

Educational content available.

Small investment portfolio.

High fee on small account balances.

Want to compare more options? Here are our other top picks:

Summary of Best Investment Apps of 2020

on E*TRADE’s website

cash credit with a qualifying deposit or transfer

on E*TRADE’s website

on TD Ameritrade’s website

cash credit with qualifying deposit

on TD Ameritrade’s website

on Robinhood’s website

no promotion available at this time

on Robinhood’s website

on Stash Invest’s website

cash credit to invest with qualifying deposit

on Stash Invest’s website

on Acorns’s website

no promotion at this time

on Acorns’s website

SoFi Active Investing

on SoFi Invest’s website

career counseling plus loan discounts with qualifying deposit

on SoFi Invest’s website

cash credit with qualifying deposit

in cash bonus with qualifying deposit.

No promotion at this time

No promotion available at this time

Brokerage app FAQs

How much money do I need to get started?

Shockingly little. Thanks to micro-investing apps like Acorns and Stash, you can kick-start an investment portfolio with small amounts of money — just your spare change, in fact. Acorns, for example, sweeps a linked credit or debit card account, rounds up purchases to the nearest dollar and invests the change. Stash offers a similar opt-in feature that rounds up purchases to deposit money in a user’s account.

Beyond the micro-investing apps, the amount of money you’ll need to begin investing after you open your account depends on the assets you intend to buy. Individual stock shares range from as little as a few dollars to hundreds or even thousands of dollars per share. Mutual funds often have minimums of $1,000 or more, but exchange-traded funds (ETFs) are essentially mutual funds that trade like a stock, and they can often be purchased for less than many mutual funds. Don’t forget, too, that some brokers charge trading fees every time you buy or sell an investment. The good news there is that many brokers now offer free trades.

Many of NerdWallet’s picks for best apps have account minimums of $5 or less, so you can open an account right away and over the internet. Here’s more on what a brokerage account is and how to open one.

Which investment app is best for stock traders?

In the summary table above we’ve categorized our best investing apps based in part on price (trading costs and account fees), mobile platform features and account minimums.

What is the best investment app for beginners?

For new investors just learning the ropes, Acorns and Stash are worthy contenders for your first investing dollars. One reason is that their services focus on ETFs instead of just individual stocks, although Stash also offers about 150 stocks.

While the idea of buying individual stocks might be exciting, building a portfolio of stocks requires a fair amount of research and discipline. ETFs offer instant diversification in that they contain shares of multiple companies (dozens, even) like a mutual fund, but trade like individual stocks. (Check out this full explainer on ETFs.)

Although all the other brokers allow investing in ETFs through their apps, Acorns takes a different approach by steering investors towards pre-built portfolios that contain multiple ETFs, diversifying your investment dollars across a collection of stocks and bonds. Portfolios are based on your tolerance for risk — based on your age, goals and time horizon — and automatically rebalanced when the stock market fluctuates. Acorns uses a handful of ETF portfolios that range from aggressive to conservative. Stash doesn’t offer pre-built portfolios but helps investors choose specific ETFs based on themes (e.g., “Clean and Green” is an ETF that holds environmentally responsible companies).

If buying individual shares of companies is something you’d like to do, see our guide on How to Buy Stocks.

What assets can I trade on these apps?

The mobile trading experience varies by broker — and so do the range of available assets. Among the picks for best apps, Acorns offers only ETFs, while TD Ameritrade’s offerings include individual stocks, mutual funds, ETFs, bonds, options and currency (or forex).

Is my money insured?

Just as FDIC insurance insures bank accounts, SIPC insurance insures the money you have in your brokerage account (or robo-advisor account) up to $500,000. $250,000 of that total can be applied to protect cash that you haven’t yet invested. All of NerdWallet’s picks for best apps are members of the SIPC.

However, it’s important to note that investments you make in your account can potentially fall in value or even decrease to zero, and investment losses are not covered by any type of insurance. (Here’s more on SIPC insurance and what it does and doesn’t protect.)

Bitcoin Circuit Review

We are happy to present our findings after testing and reviewing Bitcoin Circuit, which is one of the best automated trading platforms for cryptocurrencies. It was easy for my team to arrive at this conclusion; we tested all the features of Bitcoin Circuit to ensure that every user can have a good experience and earn a profit. Our findings have been positive, and we know that there are already so many users earning daily profits on the platform.

Bitcoin Circuit is an automated trading platform that leverages the use of AI and smart robots to give users another option to grow a passive income. The system is autonomous, the trading robots do all the work, and all profits are credited to the user’s account balance on Bitcoin Circuit.

Broker Commissions Promotion Account Minimum Learn More
Robot Rating Properties Trade
The best choice ☑ Bitcoin Circuit is NOT a scam
☑ High Profit Ratio
☑ Easy & Fast Withdrawals
☑ Works also via App
Trade Now

Continue reading to know more about our tests and the excellent results we got.

Is Bitcoin Circuit a legit trading platform for Cryptocurrencies? Yes!

We have presented a summary of our findings during this review of Bitcoin Circuit. The system works flawlessly, and it is easy to use.

  • Our tests for success score for Bitcoin Circuit is 95%.
  • The results for accuracy test on this trading platform are 99%.
  • Regarding transparency and ease of use, we easily scored Bitcoin Circuit 100%.
  • The robots perform trades quickly and accurately; live sessions can start as soon as users make a deposit.
  • Excellent customer service available 24/7.
  • Click here to open an account with Bitcoin Circuit or keep reading to learn more.

Overall, we are impressed with the features and functions of this auto trading platform. Our job is to ascertain the features and verify the capacities to ensure all users can earn a daily profit.

Auto trading websites for cryptocurrency has made it easier for everyone to invest and earn from the market. There is no need to undergo long hours of studies anymore to learn manual trading techniques. However, it may be difficult for investors who know little about cryptocurrency market trends to identify the best auto trading platforms. This is why we do these tests and present reports to the public.

With the information we gather after testing auto trading websites, people can make better decisions regarding the platform to invest and start earning much money.

Thankfully, we can happily add Bitcoin Circuit to our list of legit auto trading platforms for cryptocurrency, we have tested the system, and it is 100% legit.

Robot Rating Properties Trade
The best choice ☑ Bitcoin Circuit is NOT a scam
☑ High Profit Ratio
☑ Easy & Fast Withdrawals
☑ Works also via App
Trade Now

What is Bitcoin Circuit?

Bitcoin Circuit is an automated trading platform for cryptocurrencies. It provides everyone with an opportunity to invest in the cryptocurrency market without stress. The trading platform features intelligent robots that analyse the entire market to detect the best trades that can make users very rich. When potentially profitable trades are detected, the robots perform trades for the users with the funds that have been deposited in the users Bitcoin Circuit account.

At the end of the trading session, the funds and all profits are credited to the user’s account and can be withdrawn when needed.

Not all auto trading platforms for cryptocurrencies are scams; we know some fraudulent websites exist; that is why we test these systems and publish our reports to help investors identify the best and legit trading platforms. Bitcoin Circuit is one of the best and reliable, there has never been downtime, and the platform is available to users from all over the world.

The robots perform trades faster than humans, I am a trader, and with my years of experience, my techniques cannot be compared to the transactions done by trading robots such as those on Bitcoin Circuit.

We studied the algorithm used on this trading platform; it is interesting to note that the functionality on Bitcoin Circuit is faster than the regular market by as much as 2 seconds, as traders, we understand how important fast systems for trading cryptocurrencies are, this is one of the reasons Bitcoin Circuit stands out.

Robot Rating Properties Trade
The best choice ☑ Bitcoin Circuit is NOT a scam
☑ High Profit Ratio
☑ Easy & Fast Withdrawals
☑ Works also via App
Trade Now

How was Bitcoin Circuit Created?

We did extensive research while exploring the features of Bitcoin Circuit. We found out that the system was developed based on prevalent trends in the cryptocurrency market and intelligent systems that work with an excellent algorithm to predict and prospect the market conditions.

Combining intelligent analytical tools and some of the best monitoring systems, the robots on Bitcoin Circuit have been enhanced to monitor the market to detect the best trading conditions extensively. The system is also supported by professional and experienced brokers who closely watch the automated trades to ensure users are earning a profit daily.

How Bitcoin Circuit Functions

My team has tested so many auto trading platforms for cryptocurrency, and we are really impressed with Bitcoin Circuit. The system works perfectly, we tested its features for a week, and our results have been amazing. We needed enough time to run proper tests for accuracy, speed, and to ensure the customer support is excellent. We also needed to use the live trading system to earn a profit and make withdrawals. These tests have been concluded, so here is how the system works.

New users are expected to create a Bitcoin Circuit account; this is a fast process; we had our test account approved in less than ten minutes. Next, a deposit is made, and the user can activate the live trade feature to start earning with Bitcoin Circuit.

It is a perfect option for busy people to invest and earn on the cryptocurrency market. After creating an account, you won’t need to spend too long with the system daily; the trading robots do all the work. We were particularly impressed by the fact that the trading system was always ahead of the regular market; this means all users on this platform have the advantage to earn more profits.

We know about the market risks in the cryptocurrency sector, the market conditions are quite volatile; that is why we needed to test the accuracy and reliability of the trading robots on Bitcoin Circuit. The results we got indicates that the robots on Bitcoin Circuit can beat the risks by performing trades autonomously and faster than the regular market changes.

Robot Rating Properties Trade
The best choice ☑ Bitcoin Circuit is NOT a scam
☑ High Profit Ratio
☑ Easy & Fast Withdrawals
☑ Works also via App
Trade Now

Investing in the Cryptocurrency Market

We were happy to discover that Bitcoin Circuit allows investors to deposit only $250 before they can use the live trading feature and start earning with Bitcoin Circuit. By setting the minimum deposit for users low, the system encourages more people to invest and earn a profit daily. The highest deposit value on the platform is $15,000. We tested the trading feature after depositing only $250, and our experience was fantastic.

We studied the information on the homepage; it indicates that Bitcoin Circuit is only available if selected countries. We understand the reason for this restriction; some countries have strict laws against cryptocurrency, sadly the interested investors in those places are missing a great opportunity to earn a profit daily without stress. Follow this link to find out if Bitcoin Circuit is available in your country.

Guide to Creating a new Bitcoin Circuit Account

We have documented these steps according to our experience on the auto trading platform. To get started, we used a laptop; however, the website is accessible via mobile browsers on different types of smart mobile devices.

We opened the signup page, the information required to open a new account on Bitcoin Circuit is minimal, which is convenient, we only had to enter the name of the account owner, email address and phone number.

While this information was being verified, we checked the security protocol on the platform; it was a delight to find out that Bitcoin Circuit is secured with the SSL protocol which encrypts data and communication on the platform.

In a few minutes, our account information was verified, we created a strong alphanumeric password to secure the new account, and it was time to test the live trading feature. But first, we had a look at the demo trading platform for Bitcoin Circuit.

Please note that there were no charges during the account opening process; it was completely free.

Demo Trading

The demo trading platform is a separate system on Bitcoin Circuit, it has the same trading features with the live trading platform, and users can perform trades without using real money. Demo trading allows new users to test and study how the trading robots work. If they are satisfied, the user can proceed to make a deposit and start the live trading feature.

Deposit and Withdrawal

We decided to test the live trade feature with a minimum deposit of $250, as specified on the platform. This was an excellent opportunity to test the deposit system on the platform; we were ready for the experience.

It was good to know that the developers had provided different options to make deposits. We saw that users could deposit funds directly into their accounts with Visa, MasterCard, Bank Transfer, Neteller, and Webmoney, among other options. For this test, we chose to make a deposit using the Visa option.

After the verifications, we deposited the sum of $250, our new Bitcoin Circuit account was credited in a few minutes, and we were ready to activate the live trading feature.

The withdrawal process was also a smooth experience for us; after trading, the system made a profit on our deposit of $250; we earned $116, which was impressive. We tested the withdrawal process to get our profit out of the system. Unlike many other auto trading platforms, our withdrawal request was processed in less than 24-hours.

Live Trading

We observed that users could trade manually or use the live trading feature. We know that auto trading platforms for cryptocurrencies attract investors who have little knowledge of manual trading processes. So it was essential that we test the auto live trading feature.

First, we selected our trading pairs and set the stop-loss target on our account. The stop-loss feature is used to protect users’ funds if the market suddenly experienced a downturn.

The live trading experience was interesting; the robots worked efficiently, performing trades, and other analytical processes faster and accurately. Bitcoin Circuit works, and we had our experience as proof of its excellence.

Robot Rating Properties Trade
The best choice ☑ Bitcoin Circuit is NOT a scam
☑ High Profit Ratio
☑ Easy & Fast Withdrawals
☑ Works also via App
Trade Now

Bitcoin Circuit in the Media

There have been some claims that Bitcoin Circuit has been endorsed in the media; these claims are not true. We did some investigations and could not verify any of these claims. Instead, we noticed that the sources of these claims are from affiliate marketing websites, trying to attract more traffic to their websites with false news.

Have there been Celebrity Endorsements of Bitcoin Circuit?

We also had to look into the claims that Bitcoin Circuit has been endorsed by some celebrities, here’s what we discovered;

Richard Branson

The claims that Sir Richard Branson has endorsed and invested in Bitcoin Circuit are false. We understand why such a successful entrepreneur will be linked to the auto trading platform; it is news that draws attention. However, it is done for the wrong reasons by affiliate marketers. There is no proof that any endorsements have been done.

Gordon Ramsay

Another celebrity who has been linked with Bitcoin Circuit in the media is Gordon Ramsay, the British celebrity chef. Gordon Ramsay is known for his witty investments and fame; however, we did not find any evidence that he has publicly endorsed Bitcoin Circuit at any time.

We urge the public to visit the Bitcoin Circuit official website to find accurate and verified information. Don’t get caught up in the lies online. Affiliate marketers are desperate to get more traffic and clicks on their links. This is why they post false information online.

Bitcoin Circuit is a legit brand and trusted. We confidently state this because we have tested all its features, used the live trading feature, and earned a profit. We also withdrew our profit, and the process was flawless. There are investors in the Bitcoin Circuit platform who are earning as much as $1,500 daily.

Benefits of Trading with Bitcoin Circuit

While reviewing this auto trading platform for cryptocurrency, we noted some of the outstanding advantages of using the system, here they are;

  • High success score- Auto trading platforms such as Bitcoin Circuit that have a high success score increase the chances of all users to earn a profit daily.
  • User-friendly interface- it is so easy to create an account and start earning with Bitcoin Circuit, everyone can do it without a fuss.
  • Online security- there is no need to worry about the safety of your funds; Bitcoin Circuit is protected from online hacks.

If you are interested in reading more about other auto trading robots we have tested, there’s more information for you. Please visit our bitcoin robot page to continue reading.

How much can account owners earn with Bitcoin Circuit?

The high success score and accuracy of the auto trading system makes it possible for all users to earn as much as $1,500 daily. There are so many users who are already earning this much, and they don’t have to do anything. After making a deposit, the trading robots take over the process and make profits.

Bitcoin Circuit offers all users a chance to gain financial independence and grow a passive income portfolio with a steady income from trading activities on the cryptocurrency market.

Is Bitcoin Circuit Scam? The Verdict!

Here’s our verdict, Bitcoin Circuit is one of the best and reliable automated platforms for trading cryptocurrencies. We carefully tested the trading system and observed how the robots operated. Everything was perfect; we are happy about the outcome, it is another trusted trading platforms for all interested investors who are looking for a way to start earning from the cryptocurrency market.

We advise all investors to start with the minimum deposit of $250 and gradually grow their capital base. You can withdraw a percentage of your daily profits for savings. Please note that the trading conditions in the cryptocurrency market present risks of losing your investment. However, with trading platforms such as Bitcoin Circuit, these risks are lower.

We recommend Bitcoin Circuit to everyone, it has been tested, and the trading system works. Give it a trial and start earning daily profits like many others.

Robot Rating Properties Trade
The best choice ☑ Bitcoin Circuit is NOT a scam
☑ High Profit Ratio
☑ Easy & Fast Withdrawals
☑ Works also via App
Trade Now
  • Can Bitcoin Circuit be trusted?

Yes, you can rely on the auto trading robots to trade with your funds and earn a profit for you easily. The system has a high accuracy and success score that increases the earning opportunities of all traders.

  • Is the Bitcoin Circuit app free for download?

Yes, it is free to download the app; simply check your app store.

  • How much can a user earn daily?

When you start with the minimum deposit of $250, you can earn half or more of your capital daily, however, over time as your deposit increases, you can earn as much as $1,500 daily with a deposit of less than $800.

  • Will be required to sit in front of a computer for long hours to use Bitcoin Circuit?

No, you can start live trades and leave the system to do its work, then return to stop the trading session. In total, you won’t need to spend more than twenty minutes daily.

  • Is the platform secure?

Yes, it is secure; users can deposit and make withdrawals at any time without worries. The platform is SSL secured.

eToro Review: The Social Trading & Investment Platform

While eToro is a key player in the world of CFDs and cryptocurrency trading, the company also offers a lot more than this now. They have led the fintech revolution for over a decade and built up a reputation as the leading social trading platform in the world.

The company began as a general trading platform but has added cryptocurrency and other trading instruments to keep up with changing markets and growing demands. They are one of the pioneers in adding social features to their platform in the form of CopyTrading and CopyPortfolios.

Today, there are over 6 million users registered on eToro, securing it’s status as an industry leader – Read on for our comprehensive review.

Risk Warning: 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.

eToro at a Glance

Broker eToro
Regulation FCA (UK), ASIC (Australia), CySEC (Cyprus)
Minium Initial Deposit
$200
Demo Account
Yes
Asset Coverage CFDs, ETFs, Forex, Cryptocurrency, Shares, Commodities, Indices
Leverage 20:1
Trading Platforms Proprietary Web, Mobile Apps

What Is the History of eToro?

eToro actually began back in 2007 with three entrepreneurs who wanted to make trading more accessible for every day users.

At the same time, they wanted to reduce dependency on banks and other traditional financial institutions. eToro started off as an online trading platform with graphs representing financial instruments and an intuitive interface.

In 2009, eToro launched the trading platform, WebTrader, with a range of professional tools for traders of all skill levels.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

  • A big step forward came in 2020 with OpenBook, the first social trading platform in the world. This included the then-new CopyTrader feature, which let anyone copy successful traders.
  • In 2020, eToro added stocks to its other assets, like currencies and commodities.
  • The eToro mobile app launched in 2020 for both Android and Apple, expanding the reach of the platform. This is also when eToro dipped into crypto, making it possible to trade Bitcoin via CFDs.
  • In 2020, the platform updated the interface for an even more innovative and intuitive experience.
  • In 2020, it added CopyPortfolio, managed portfolios that bundle various assets or top traders within a market strategy.
  • In January of 2020, eToro expanded its reach in the world of cryptocurrency by adding support for trading crypto to the platform. It began with a range of popular cryptocurrencies, including Ethereum, Litecoin, and XRP.
  • In 2020 they launched eToroX, a full crypto to crypto exchange.

Which Cryptocurrencies Does eToro Support?

Compared to other platforms, the options for supported cryptocurrencies on eToro are relatively limited.

This is a result of its nature as a general trading platform as opposed to one focused solely on cryptocurrency.

Even so, you can short or own the most popular cryptocurrencies. Supported options include Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and Ripple.

Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk. Indicative prices; current market price is shown on the eToro trading platform

What Sets eToro Apart from Other Platforms?

One of the biggest ways that eToro stands out from other platforms is the sheer number of investment and trading options available.

Thanks to the numerous ways to invest and trade, users can take advantage of the same platform for their cryptocurrency trading needs as for traditional assets.

The social elements of eToro also make it unique. An example is CopyPortfolios, which is a long-term thematic investment in the form of a managed portfolio bundling assets and top traders with a predetermined strategy. The ability to copy the investments of successful traders is also innovative, as is the Popular Investor program.

What Trading Tools Does eToro Offer?

This platform aims to educate traders as well as provide them with a platform for investment.

Upon registration, eToro users get “virtual-money accounts” with $100,000 so they can work on strategies and skills before investing any real money.

It also provides multiple other tools to help with actual trading, such as an economic calendar. Simply input the dates and time zone you want to look at and the assets you trade. The calendar will then display how events are likely to impact your assets.

Additionally, it provides regular market analyses that include great detail as well as quick overviews, so you can utilize as much or as little information as you want.

Every asset which is tradable on the platform has it’s own page where you can view detailed information, news, charts and research.

What Are CFDs?

A CFD, or contract for difference, is a type of derivative trading. With a CFD, investors can speculate on whether fast-moving global financial markets will rise or fall. This can be done with cryptocurrencies as well as indices, shares, fiat currencies, treasuries, and commodities.

The important thing to note about CFD trading is that you will not be buying or selling the asset underlying it, in this case, cryptocurrency. Instead, you sell or buy a certain number of units for that instrument based on your prediction of if the price will rise or fall.

When the instrument moves in your favor, you get multiples of the existing CFD units you already sold or bought. You make a loss for every point it moves against you. CFDs require caution since it is possible for losses to exceed deposits.

You can read more about CFDs in our Beginner’s Guide here.

Highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.

On eToro, CFD trading and cryptocurrency go hand in hand. As mentioned earlier, eToro first entered the world of cryptocurrency by offering Bitcoin trading via CFDs in 2020, making it one of the earliest players in the world of crypto investments.

CFD trading continues to play a key role on eToro since many of the trades involving crypto are still CFDs instead of dealing with the actual asset.

Starting on Sept. 3, 2020, those who invested in the BUY position for crypto on eToro actually own the asset underlying the transaction. Before this, they owned a CFD, not the asset. Additionally, eToro offers actual cryptocurrency trading. If you choose to open short or SELL positions for cryptocurrencies on eToro, this is still a CFD position.

What Are CopyPortfolios?

CopyPortfolios were added to the eToro platform last year. This feature is available for cryptocurrency trading as well as traditional fiat trades. This creates a single tradeable asset that is made up of carefully selected assets or traders of a predetermined strategy.

The eToro Investment Committee composes the CopyPortfolios and rebalances them periodically. There are several cryptocurrency CopyPortfolios available for investors to choose from.

One of these is simply called “Cryptocurrency” and delivers exposure to Ethereum and Bitcoin.

In the cryptocurrency bull run of May 2020, the fund had a 66 percent increase. Within the first three months, that fund generated over 125 percent in profits. Another option is called “Crypto CopyPortfolio.”

This is a more recent CopyPortfolio made up of a balanced crypto portfolio containing Bitcoin, Ethereum, Ethereum Classic, Litecoin, Dash, and Ripple.

What Is CopyTrading?

Another exciting option on eToro that you can use for crypto and fiat investments is CopyTrading.

Copy trading is an innovation that allows users to look through the track record of other traders and copy them, which means they will mirror their trades.

Traders have the ability to become “Popular Investors” if they have a low-risk score and deliver consistent returns.

They then receive rewards for sharing wisdom. By taking advantage of CopyTrading and copying an investor who includes cryptocurrency in your portfolio, you can get exposure to the market without having to do too much research yourself.

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. This is not investment advice.

Who Can Use eToro?

eToro can be used by anyone, as long as it is legal to do so in their country. eToro keeps a running list of countries where the platform is blocked due to changes in the regulations that conflict with trading laws.

This means that those in the United States, Canada, Cuba, Japan, North Korea, Iran, Syria, Turkey, Serbia, Albania, and Sudan cannot legally use eToro.

Does eToro Have a Minimum Trade Size?

eToro prides itself on offering tools that investors and traders of all levels of experience can take advantage of, so it tries to limit the use of minimum trades.

  • Even so, you must have $200 to participate in CopyTrading and make a minimum investment of $5,000 for CopyPortfolios.
  • The minimum quantities for manual positions are based on the instrument. For currencies (such as cryptocurrencies) and commodities, it is just $25.
  • For stocks, it is $50.
  • Finally, for ETFs and indices, it is $200.

For those who registered on April 2, 2020, or after, the size of a minimum trade depends on exposure, in the form of leverage times the invested amount. For cryptocurrencies, this total minimum amount is $200.

The minimum for ETFs and stocks is $500, for commodities is $2,500, and for indices and Forex is $5,000.

As an example of this exposure-related policy, if you open a crypto trade with a leverage of x1, you must invest at least $200. If, however, you chose to invest $100, you must have a minimum leverage of x2.

eToro Fees

As an exchange, eToro makes its profits from the various fees that it charges. On eToro, no fees are charged when opening a position, instead generating the fee based on the spread. It has a list of minimum spreads for each cryptocurrency, and those rates are not guaranteed.

The team points out that the spread can vary based on liquidity and market conditions.

The daily break spreads are as follows: 1.5 percent for BTC, 5 percent for BCH, 3 percent for DASH, 2 percent for Ethereum, 5 percent for ETC, 3 percent for LTC, 5 percent for NEO, 5 percent for XLM, and 3 percent for XRP.

Instrument Market Hours Daily Break Spread SELL BUY
1.5 % -0.471233 -0.471233
3 % -0.039452 0
2 % -0.036712 -0.036712
5 % -0.001726 0
3 % -0.006575 0
5 % -0.012383562 0
5 % -0.0000416 0
3 % -0.000022 0

Because of the nature of cryptocurrency trading, it is available 24/7, and there are no fees for overnight or weekend trades. Instead, eToro only charges fees for users who hold leveraged Ethereum or BTC positions or for shorting cryptocurrencies. The team does point out that the various fees are subject to change.

eToro Customer Reviews & Reputation

Users and reviewers of the platform generally agree that eToro is very easy to use. It was designed to be intuitive, so those without trading experience could get the information they need and make trades.

You can use the platform on PCs, Macs, Android, or iOS devices, always taking advantage of its intuitive functionality and readily displayed information regarding cryptocurrencies and other assets via graphs and more.

In general eToro has a good reputation online, the company is large and well established so you can be sure your funds are safe there. Complaints from people online are generally about traders they have copied not performing as well as they thought they would.

This isn’t the fault of the traders themselves, trading is a complicated business as everyone experiences losses as well as gains.

Other issues revolve around the fact that eToro advertises heavily that you can buy Cryptos with them, when in fact you don’t actually hold the assets themselves. This is the same for all brokers of this type, if you want to physically own the crypto asset then you will need to purchase them on an exchange that offers this, like Coinbase or Binance.

How Do You Deposit and Withdraw Money on eToro?

There are multiple deposit methods for eToro, so you can choose the one that best meets your needs, keeping in mind that different methods have varying minimum deposits.

You can choose to deposit via wire transfers, bank transfers, Visa, MasterCard, NETELLER, PayPal, Yandex, Webmoney UK, Skrill, and others.

To withdraw, you must fill out a form and then typically receive the money via PayPal, a bank transfer, or your credit or debit card. To withdraw, you will need a copy of your signature, color passport copy, and proof of address.

Cryptocurrency Expansion

eToro has recently added approximately 35 new fiat pairs to its platform which sees a total of around 44 trading pairs available to its users. The new pairs cover a number of different regions and currencies and are aimed at the inhabitants of countries such as Canada, Australia, and Japan. The updated pairs are as follows:

  • Australia BTC/AUD, ETH/AUD, XRP/AUD, ETC/AUD, BCH/AUD, LTC/AUD,
  • Canada BTC/CAD, ETH/CAD, XRP/CAD, ETC/CAD, BCH/CAD, LTC/CAD
  • Japan ETC/JPY, BCH/JPY, LTC/JPY
  • New Zealand BTC/NZD, BCH/NZD, ETH/NZD, ETC/NZD, LTC/NZD XRP/NZD
  • Switzerland BTC/CHF, ETH/CHF, XRP/CHF, LTC/CHF, BCH/CHF, ETC/CHF
  • United Kingdom BCH/GBP, ETC/GBP, LTC/GBP, XRP/GBP
  • The EU BCH/EUR, ETC/EUR, LTC/EUR, XRP/EUR

Furthermore, eToro has officially announced a cryptocurrency focused trading platform aimed at customers in the U.S., alongside a crypto wallet, and integrated mobile app which allows cryptocurrency purchases by credit card.

The service was unveiled in May and enables U.S. customers from 32 states and territories to trade a growing number of different cryptocurrencies including popular assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, Dash (DASH), Neo (NEO), and EOS.

At the same time, the multi-signature crypto wallet supports six cryptocurrencies, namely Bitcoin (BTC), Bitcoin cash (BCH), Ethereum (ETH), Litecoin (LTC), Stellar (XLM) and XRP with additional currencies set to be added in the future.

The team have also announced that their cryptocurrency mobile wallet has been made available for both iOS and Android device users.

Existing eToro users are currently able to log into the wallet directly in order to transact and store cryptocurrencies, while in-wallet asset conversion is also possible with just few clicks, additionally, funds can also be received and sent out by sharing the wallet address or using a QR code.

The eToro Wallet allows users to:

  • Manage and store multiple cryptocurrencies
  • Exchange crypto for crypto
  • Transfer cryptos from their eToro accounts (limited to certain coins and to Gold accounts and above)

How to Buy Crypto with a Credit Card

eToro customers can also buy cryptocurrencies directly from the eToro wallet by using a credit card. The investment platform has partnered with well renowned third-party payment provider Simplex, with allows eToro to integrate Visa and MasterCard payments.

Here’s how to buy some cryptocurrency using your credit card:

  • Open your eToro Wallet
  • Click on the “BUY CRYPTO” section of the wallet and select your preferred coin and amount that you would like to buy
  • Enter your payment details into Simplex’s billing form.

Upon successfully completing the process, your purchased coins will be transferred to your eToro wallet.

It’s important to note that Simplex can choose to immediately approve or decline your request, as well as request further documentation or proof of identity. These may include official government issued documentation or a selfie photo. This service is also subject to the following fees and limitations.

eToro Wallet Fees

Fiat to Crypto Conversion Fees

  • eToroX fee 1%
  • Simplex fee 4%
Currency Min transaction Max transaction Max / Day Max / Month
GBP £96 £7,350 £14,700 £36,750
EUR €112 €8,624 €17,248 €43,120
USD $125 $10,000 $20,000 $50,000

The actual market rate is determined by eToroX once the transaction is approved by Simplex, and blockchain fees are deducted from the crypto purchased in addition to the above fees and are applied to every crypto transaction.

It’s worth noting that additional fees may also be accrued as a result of charges applied by your bank or credit card issuer.

These may include cash advance or foreign transaction fees to your card transactions, and any transactions carried out will appear on your credit card or banking statement as eToroX LTD, with the credit card descriptor being Simplex_eToroX, however, a confirmation email will also be sent Simplex.

Any pending payment may be cancelled, with customers advised to open a ticket directly on the Simplex website or to use the Live Chat feature on the bottom right side of the Simplex.com website.

It’s also important to note that once a payment has been approved it can’t be cancelled. The approval process is actually authorised by Simplex, and as a result, questions about the transaction process should be first directed to the Simplex customer service team. However, the eToro Customer Service team is also available to deal with any issues.

eToroX Review

eToroX, the blockchain subsidiary of eToro’s more traditional investing platform has officially launched in Gibraltar and is being regulated by the Gibraltar Financial Services Commission (GFSC). The exchange aims to cater to specialist crypto traders and incorporate many of the features found on their social trading platform.

The crypto to crypto exchange features an intuitive user interface, a mobile wallet app, is regulatory compliant, and makes use of cutting edge security protocols, and aims to provide crypto enthusiasts in a number of region with enhanced trading options.

Supported Currencies

The platform originally launched with a limited number of cryptocurrencies, however, 16 digital assets and 37 crypto-to-fiat pairs are currently available, and eToroX also incorporates eight branded stablecoins that allow traders to protect themselves from the volatility of the market without having to “cash out” into fiat.

The eToro-branded tokens pegged to fiat currencies include the eToro United States Dollar (USDEX), eToro Japanese Yen (JPYX), eToro Euro (EURX), eToro Pounds Sterling (GPBX), eToro Australian Dollar (AUDX), eToro Canadian Dollar (CADX), eToro New Zealand Dollar (NZDX), and the eToro Swiss Franc (CHFX).

In addition to these stablecurrencies, digital assets pegged to the price of commodities also feature and these include the GOLDX and SLVRX coins which respectively remain pegged to the prices of gold and silver.

The inclusion of these digital assets help eToroX to remain a crypto to crypto exchange, and more familiar cryptocurrencies such as Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Litecoin (LTC), Dash (DASH), and XRP also feature with more cryptocurrencies, stablecoins, and tokens scheduled to be added in the coming weeks.

Exchange Fees and Limits

eToroX doesn’t charge for deposits, and withdrawal fees are as follows:

Currency Quick withdraw limit Withdrawal fee
AUDX 50,000 3.75000
BCH 166 0.01000
BTC 10 0.00060
CADX 50,000 3.90000
CHFX 50,000 3.00000
DASH 400 0.02500
ETH 278 0.01700
EURX 45,000 2.65000
GBPX 40,000 2.30000
JPYX 5,500,000 330.00000
LTC 555 0.03300
NZDX 50,000 4.25000
USDEX 50,000 3.00000
XRP 166,667 8.50000

The exchange uses a tiered approach with regards to trading fees and the fees for all transactions (under a monthly volume of $100,000) are calculated according to Tier 1.

When the monthly trading volume grows beyond Tier 1 (over $100,000), a rebate will be applied during the first week of the month, and depending on the Tier Level, the rebate will be calculated based on the percentages in the following table.

  • The calculation will be done for each calendar month.
  • The rebate will be given in ETH
  • The Rebate will be given during the 1st week of the month.

eToroX also incorporates Maker and Taker fees, and the former are charged for trades where Maker orders add liquidity to the exchange, while Taker orders remove liquidity from the order book and incur their own charges.

As a result, Maker fees are lower in comparison due to these orders helping the exchange to remain liquid.

An example of a Maker trader order includes placing an order for pending execution, such as a limit order which is not automatically filled (partially or fully).

This action helps “make” the market and adds liquidity to the order book, while a Taker order can take the form of placing an immediate order that doesn’t go on the order book, by being filled partially or fully for example. This type of activity “takes” liquidity off of the order book.

How Secure is eToroX?

The exchange incorporates a number of cutting edge security protocols and these include data encryption by default, with a dedicated secured mechanism being used to prevent CSRF attacks.

In addition, the team have developed their own backlog analytic mechanism, based on N.N machine learning algorithm which assists in decision making, and incorporate multiple PT and Code reviews as well as a bug bounty program.

User accounts are further secured as all eToroX customers are required to complete Level 3 Identity Verification, and updating financial account information requires dual-process verification.

Furthermore, the platform makes use of two factor authentication (2FA), limits login attempts and uses whitelisting attribution models to prevent automation attacks.

More stringent security examples include all employee workstations being protected and verified based on multiple security mechanisms that include deception and traps, while the exchange’s custody solution is based on a three level military grade FIPS140 custodian process with multi separation between the different environments.

These include a warm environment, or process engine secured solution, a cold, secured isolated gap environment, and a deep, military grade secured isolated environment.

On top of this, eToro has been operating in Fintech since 2007 and has established regulated entities in Cyprus, UK, USA, Australia, and South Africa, with Gibraltar now becoming its sixth jurisdiction.

The Government of Gibraltar and the Gibraltar Financial Services Commission (GFSC) have set out regulations covering distributed ledger technology (DLT) businesses and eToroX operates under the framework administered by the GFSC.

The company is one of the more transparent in the cryptocurrency sector, and ETORO X LIMITED is a limited liability company incorporated in Gibraltar with a registration number 116348, and a registered office at 57/63 Line Wall Road, Gibraltar.

The company is authorized by the GFSC as a Distributed Ledger Technology Provider under the Financial Services (Investment and Fiduciary Services) Act, with a license number of FSC1333B.

Account Verification

Gibraltar’s regulatory requirements ensure that each new account must be verified as part of the registration process, and the exchange aims to simplify the verification process as much as possible.

After submitting all your information and uploading all the necessary documents, it can take up to two business days to verify your account.

New users are required to upload documents to help prove their identity and residence, and the following documentation will be asked for.

Proof of Identity (POI) Document

This POI document must include your name, date of birth, a clear photo, the issue date and expiry date of the document. Accepted forms of POI documents include a passport, a government-issued ID or driving license.

Proof of Identity and Selfie (POIS)

It’s necessary to upload a selfie that includes you holding the proof of identity document you have uploaded.

Proof of Address (POA) Document

The POA document must include your full name, address and issue date, and also feature the name or logo of the company that issued the document. The POA documents must be no older than 6 months and all four corners of the document must be visible.

Your POA document can be one of the following:

  • Bank Statement
  • Utility Bill: Electricity, Water or Gas
  • Tax: Council, State or Country Tax Bill

Financial Questionnaire

The last step in the verification process involves completing a financial questionnaire which covers your financial suitability for investing. The questionnaire is made up of nine 9 questions and takes just a few minutes to complete.

How beginner friendly in eToroX?

As with any trading platform, eToroX takes some getting used to, however, the learning curve will be steeper for anyone completely new to the world of cryptocurrency trading.

In order to try and offset this, the team have a Help Section which aims to answer the most common questions, and can be contacted by their [email protected] email address.

The team can also be contacted via their Twitter account, Telegram group, and Facebook page. In addition to the Help Section, eToroX also aims to educate its users and incorporates a Blockchain Academy and Glossary Section which include a range of clearly written guides and definitions that help users to both navigate the platform and gain a better understanding of blockchain technology.

Depending on your background, the more limited selection of trading pairs should make it easier for new entrants to the market to start trading on the platform, while the unique selection of stablecoins should also help newer traders to gain an understanding of how to make profitable trades when dealing with digital assets.

eToro Competitors

eToro is in competition with our similar brokers which have covered before, as follows:

Is eToro Safe?

To provide users with peace of mind, eToro takes steps to provide security. The company as a whole is fully regulated and adheres to guidelines of FCA and CySEC. To help traders make responsible decisions, it offers a range of tools for all experience levels, such as guidance for the first steps and risk-management features.

eToro also takes precautions to ensure the funds and personal information of clients are safe. Traditional funds remain secure in European banks of tier 1.

With all that in mind, you should remember that there are no regulations for cryptocurrencies. Because of this, if you engage in cryptocurrency trading or other crypto-related investments, there is no insurance from the investor compensation schemes within the UK or Cyprus.

The lack of regulations also means that if you have a complaint, you cannot file it with your financial ombudsman service.

Despite this, eToro takes pride in working to resolve issues as seamlessly as possible. In addition, there are numerous social platforms where you can register complaints, which may influence other users.

Conclusion

Although eToro focuses on more than just cryptocurrency trading, it is a useful platform for those who invest in cryptocurrency or trade it.

The additional features of eToro are what give it an edge, such as CopyPortfolios and various graphs. The platform is also highly intuitive, something that will appeal to everyone.

While eToro will not be ideal if you want to trade less-popular cryptocurrencies, it is an excellent option for those who only care about the major ones or who want to use the same platform for both fiat and crypto trades.

It’s also a great platform for trading regular stocks and Forex or just invest in pre-built portfolios in different industries.

This review was updated with the launch of eToroX, Cryptocurrency investors now have the ability to purchase and hold crypto assets directly. This is a great addition to the platform and positions them well within the space now.

We have used eToro for years now and have not had any problems with them, deposits and withdrawals are processed quickly and reliably so you won’t have to worry about the safety of your funds.

eToro have proven themselves trustworthy within the industry over many years and come highly recommend – we recommend you try them out.

Risk Warning: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets. 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.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendations.

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