High or Low fees for Trading at eToro?

In recent times the world has watched as the trading market has seemingly exploded. Every man and his dog has been keen to extend their investment portfolio. The main area of interest lately, appears to be investing in cryptocurrency, of which many are only starting to take an interest in now.

While other sectors remain strong, the fact that huge profits can be made quickly if the right investment is made appeals to most. However, on the flip side of that coin, massive losses can take place too if not careful.

Companies have sprung up on the basis that these cryptocurrencies and commodities need to be traded quickly and efficiently. eToro, despite only being founded in 2006 has quickly become one of the leading trading sites in the world. 

There is fierce competition in this sector as companies strive to offer the best all-round service that they can. The way fees are priced can sometimes result in customers moving their money elsewhere if it’s felt they are not getting a good deal.

Are the Fees reasonable? 

Customers have been known to vent their frustrations as they search for a clear Overview of eToro trading fees. It seems to be one of the complaints about the company. However, as well as being free to open an account at eToro, their fees on most funding methods are also free, as opposed to some other companies. 

If you wish to trade cryptocurrency, there will be fees to pay. For both purchases and trades, this may vary between 0.75% to 5% depending on the market and the currency used. As eToro operates in USD while accepting other currencies, there will be fees to convert these currencies into USD.

International account holders will have to pay a $5 fee if they wish to withdraw funds, with the minimum withdrawal figure being $30. In this sense, it may pay to wait until you have a larger amount to withdraw, rather than constantly withdrawing small amounts. This could add up quite quickly, especially over an extended period of time.

What can you Trade on eToro?

By joining and using eToro, you will find yourself able to trade anything they have to offer.  It’s quite easy to open an eToro account if your location permits it. They allow you to buy ETFs and stocks, in quantities that suit your or your financial situation. This can relieve the feeling of pressure, and also ensure you don’t dive in wholeheartedly if you are not fully comfortable.

The opportunity to trade CFDs is also available if you so desire. You can choose if you would like to go short or long in this market. Indices and commodities can be traded using flexible leverage. You can choose to buy, sell, or simply hold whichever cryptocurrencies you would like in your portfolio.  

Using eToro can put the customer’s mind at ease no matter which market they are in or how exposed to the market they are. Their money is important, and the feeling of security goes a long way towards keeping them happy. There are plenty of other companies aiming to snap up unsatisfied customers.

Does it have Competiton?

While everyone seems to want to get involved in investing or trading in cryptocurrencies, some may not be sure exactly how to go about it. eToro has gained a great reputation over the years which still sees it at the forefront of people’s minds when they wish to start or continue their journey in the crypto or financial world. Choosing the right platform can be vital, although some may wish to spread their assets around so as not to expose themselves completely in one place.

Most of eToro’s competitors appear to have their own distinct traits or selling points. Yet eToro remains one of the most popular choices for customers despite heavy competition. This is partly down to the fact you can take advantage of a practice trade account while you gain some valuable experience, without losing any money.  If you like, there is also an option available where you can also simply mimic successful traders and the moves they make. 

After some research, you may find that eToro is exactly the platform you are looking for. eToro aims to please on every level and has expanded to 140 countries throughout the world. With over 23 million users and the number ever-rising, eToro seems to be a company that can withstand any issues.

Summary

eToro was originally intended to be a forex platform but is now used by millions to dabble in the world of cryptocurrencies whilst other options are still available. Their trading fees are seen to be quite high as opposed to some of their nearest rivals. Yet this does not seem to have dissuaded customers as the all-round package of user experience and security is superb. Choice in this sector is widely available yet eToro keeps growing and growing in popularity.