Invest · Broker review

eToro

Copy trading and social investing platform — popular but carries high FX costs on USD conversions.

Reviewed by Aayush Jain·Updated May 2026

Visit eToro Compare all brokers

Overall score

6.5/10

FX rank#20 of 20

FX cost / $10k$150

Conversion spread1.5%

Trading commissionFree

Annual feeNone

Min investment$50

$140 more per $10,000 than Interactive Brokers (FX cost only)

Not financial advice.This is a comparison of FX costs only. We don't recommend specific investments. Always consult a qualified financial adviser before investing.

Verdict

eToro's copy trading and social features are genuinely unique — great for investors who want to follow experienced traders. But the 1.5% FX spread on USD conversion (all eToro accounts are USD-denominated) makes it one of the most expensive platforms for non-US investors. A UK investor putting £10,000 into US stocks pays ~£150 in FX costs before buying a single share. For passive index investing, a cheaper platform like Trading 212 or IBKR is a much better choice.

FX cost breakdown

Conversion spread

1.5%

Above mid-market rate

Fixed FX fee

None

Per currency conversion

Total FX cost / $10k

$150

Realistic all-in estimate

FX cost comparison on $10,000 investment

Interactive Brokers$10

Trading 212$15

Tiger Brokers$20

moomoo$25

Pros & cons

Pros

Copy trading — follow and replicate top investors automatically
Social feed and community features — good for learning
Commission-free stock trading
Wide asset coverage: stocks, ETFs, crypto, CFDs
Easy onboarding — one of the simplest account setups

Cons

1.5% FX spread on USD conversion — 10x more expensive than IBKR
All accounts denominated in USD — unavoidable conversion for non-US investors
$5 withdrawal fee
$10/month inactivity fee after 12 months
CFD products can lead to significant losses — important to distinguish from stock investing

Who can use it

UKEUAustraliaGlobal

Markets available

USAUKEUETFsCryptoCFDs

Supported corridors

GBP→USDEUR→USDAUD→USD

Regulated by

FCA

CySEC

Australia

ASIC

Frequently asked questions

Why does eToro charge 1.5% FX fee?

eToro's platform is USD-denominated. When you deposit GBP or EUR, it's automatically converted to USD at a 1.5% spread above mid-market. This is built into the deposit process and isn't itemised as a separate fee — it just appears as a slightly worse exchange rate.

How much does eToro's FX fee cost on £10,000?

On a £10,000 deposit, eToro's 1.5% spread costs approximately £150 in FX fees before you buy anything. Compare: Trading 212 charges £15 (0.15%) and IBKR charges ~£10 (0.08%-0.2%).

Is eToro good for long-term investing?

The copy trading feature is useful, but the high FX spread is a drag on long-term returns. For a passive investor buying index ETFs, the FX cost alone could reduce 10-year returns by 0.3-0.5% relative to a low-FX platform. For active investors using copy trading, the social value may offset this.

Can Indian investors use eToro?

eToro is not available to residents of India as of 2026. Indian investors looking for US stock access should consider Interactive Brokers or Vested Finance instead.