eToro Review (2026):
CopyTrader, real fees, and who it suits
Fees verified September 2026 against official pricing pages — see our methodology
eToro charges no commission on real ETFs and runs CopyTrader, its copy-trading system. For a European investor the number that changes the maths is currency conversion: 0.75% whenever EUR moves into USD through the EUR account, cut by Club discounts but never waived, against 0.15% at Trading 212. Buy EUR-listed ETFs from the EUR account and that fee does not apply. Here is the full fee picture, what the Club tiers actually change, and who eToro suits.
Some of the links on this site are affiliate links, meaning we may earn a commission at no extra cost to you if you sign up through them. This does not affect our reviews or recommendations — we only feature products we genuinely believe are useful for investors. This site provides educational content only, not personalized investment advice. Investments can lose value and past performance does not guarantee future results. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in your country.
TL;DR
- CopyTrader users: from $200 per copied trader, with no fee beyond the standard spreads and overnight fees.
- Beginners who want to practise first on the free $100,000 demo account.
- EU investors buying EUR-listed ETFs such as VWCE.DE from the EUR account, where no conversion fee applies.
- Anyone at $25,000+ tier balance, or paying $4.99 a month for Platinum: free withdrawals and conversion at 0.45%.
- 0.75% conversion between the EUR account and USD at the base tier. Club discounts cut it to 0.15% at Diamond, never to zero.
- Some non-leveraged ETF and stock buys are executed as CFDs, marked in the trade execution window.
- No interest on EUR cash. Interest is paid on available USD cash only, and only after you opt in.
- Positions generally cannot be transferred out to another broker.
Fees at a glance
“Commission-free” does not mean free. The eToro account runs in USD, so for a European investor the conversion route decides most of the cost. Figures below are for residents of the Netherlands, Italy, Germany, Spain, France and Portugal unless marked.
| Fee type | Amount | Notes |
|---|---|---|
| ETF commission | $0 | Every real ETF transaction, any size, manual, CopyTrader or Smart Portfolio. Some non-leveraged ETF buys are executed as CFDs and pay CFD spreads instead, marked “CFD” in the trade execution window. |
| Stock commission | $1 / $2 per side | $1 on most exchanges; $2 on Australian, Hong Kong, Dubai, Abu Dhabi and Tokyo listings. Charged in USD. UK residents pay $0. Some non-leveraged stock buys are executed as CFDs. |
| Stock and ETF CFDs | 0.15% per trade | Charged on opening and on closing, based on position value |
| Real crypto | 1% per position | A commission, not a spread. Lower rates from Platinum, depending on monthly manual crypto volume. |
| Conversion: EUR/GBP deposit straight into the USD account | 150 PIPs | Same by card, wallet, online banking or bank transfer. $150 per €10,000 deposited, whatever the exchange rate (QuantRoutine calculation). |
| Conversion: EUR account ↔ USD | 0.75% | Includes buying non-EUR assets with EUR. Club discounts: 20% Silver and Gold, 40% Platinum and Platinum+, 80% Diamond. |
| Withdrawal fee | $5 from USD account | $0 from the EUR account. $30 minimum from the USD account. No withdrawal fees at Platinum and above. |
| Custody and inactivity | Free | No custody fee on stocks, ETFs or crypto; no inactivity fee |
| Deposit fee | None from eToro | Intermediary and receiving banks may charge on bank transfers |
| CopyTrader | No extra fee | Same spreads and overnight fees as manual trades |
| Smart Portfolios | No management fee | No management fee or commission beyond the costs of the underlying assets. $500 minimum. |
| Minimum deposit | $50 first deposit | Subsequent deposits $50; bank transfers at least $500. eToro can change these minimums. |
Source: eToro fee schedule, conversion fees page and deposit help pages. Verified September 2026.
The FX fee: two routes, two prices
Every eToro account runs in USD. What you pay to get EUR into it depends on whether you deposit straight into the USD account or through the EUR local-currency account.
EUR and GBP deposited directly into the USD account are converted at 150 PIPs, whatever the payment method, and withdrawals back to EUR are converted at the same 150 PIPs. A PIP is a fixed distance on the exchange rate, not a percentage: 150 PIPs takes $0.0150 off every euro converted, so a €10,000 deposit loses $150 at any EUR/USD rate. That is more than the €75 it costs to move €10,000 from the EUR account into USD at 0.75%, at any EUR/USD rate below 2.00 (both QuantRoutine calculations). Club discounts do not apply to this route.
EU residents can open a EUR account through eToro Money Malta, funded by SEPA. Deposits and withdrawals carry no conversion fee, and neither does buying EUR-listed assets such as VWCE.DE. Those orders are still routed through USD, so the exchange rate at the moment of conversion can move the price you pay: the fee is zero, the currency exposure is not. Buying non-EUR assets from the EUR account costs 0.75%, less Club discounts. CopyTrader and Smart Portfolios can only be funded with USD, so using them from EUR means paying the 0.75% first: $3.75 on the $500 Smart Portfolio minimum at the base tier (QuantRoutine calculation).
| Broker and route | FX conversion fee |
|---|---|
| eToro: EUR deposit straight into the USD account | 150 PIPs ($150 per €10,000)* |
| eToro: EUR account ↔ USD, no Club tier | 0.75% |
| eToro: EUR account ↔ USD, Platinum and Platinum+ | 0.45%* |
| eToro: EUR account ↔ USD, Diamond | 0.15%* |
| XTB | 0.5% |
| Trading 212 | 0.15% |
| Interactive Brokers: automatic conversion | 0.03% |
| Interactive Brokers: manual spot FX order | 0.002% (0.20 basis points), USD 2.00 minimum per order |
Sources: eToro conversion fees page; XTB, Trading 212 and Interactive Brokers official price lists. Verified September 2026. *QuantRoutine calculations: 150 PIPs × €10,000, and 0.75% less eToro’s Europe Club discounts of 40% and 80%.
eToro Club: how tiers change the fee maths
Club tiers are assigned by tier balance. For EU clients they discount the conversion fee on the EUR-account route, and from Platinum they remove the withdrawal fee. They never remove the conversion fee. Silver and above also unlock the eToro Tax Report; how your gains are taxed still depends on your country (see UCITS ETF tax by country).
| Club tier | Tier balance | Conversion, EUR account ↔ USD* | USD withdrawal fee | Selected extras |
|---|---|---|---|---|
| Bronze (non-member) | Below $5,000 | 0.75% | $5 | Live chat, Club Dashboard |
| Silver | $5,000+ | 0.60% | $5 | WhatsApp channel with account managers, eToro Tax Report |
| Gold | $10,000+ | 0.60% | $5 | Dedicated account manager |
| Platinum | $25,000+ or $4.99/month | 0.45% | $0 | Private insurance (conditions below) |
| Platinum+ | $50,000+ or $14.99/month | 0.45% | $0 | Private insurance (conditions below), industry events |
| Diamond | $250,000+ | 0.15% | $0 | Private insurance (conditions below), airport lounge access |
Sources: eToro Club page, Club comparison table and conversion fees page. Verified September 2026. *QuantRoutine calculations: 0.75% less eToro’s Europe Club discounts of 20%, 40% and 80%, which apply only to payments through the eToro EUR, GBP, DKK or AUD accounts.
eToro sells Platinum for $4.99 a month, which is $59.88 a year. One USD-account withdrawal a month covers it on its own, since each one would otherwise cost $5. On conversion alone, Platinum saves 0.30 points against the base tier (0.75% down to 0.45%), so it pays for itself at roughly $1,660 converted a month (all QuantRoutine calculations). eToro states that availability of products and services varies by jurisdiction, so confirm the subscription is offered in your country before counting on it.
eToro arranges private insurance through Lloyd’s of London of up to €1m per client, and real crypto is excluded. eToro states the insurance is available only to Platinum, Platinum+ and Diamond Club members; its policy document applies a €20,000 retention and a €25m aggregate cap across all claimants, and eToro can withdraw it without notice. Treat it as a discretionary extra, not as a guaranteed layer on top of the €20,000 Investor Compensation Fund.
Interest on uninvested cash: USD only
eToro pays interest on idle cash, but only on USD, and only if you switch it on.
For residents of the EU, the rate is 3% where your total balance (invested plus cash) is up to $50,000, and 3.80% above $50,000. No Club tier is required. The rate is paid on available USD cash only, after you turn on “Interest on USD Cash Balance” in the Club Dashboard, and accrues from the day you opt in. It is calculated daily and paid monthly. eToro treats the interest as discretionary, keeps a variable portion of what it earns on the cash, and can renew the rate at a lower level.
No interest is paid on EUR balances, nor on GBP, DKK or AUD. That leaves a trade-off. Holding EUR avoids the 0.75% conversion but earns nothing. Converting to USD to earn interest costs the conversion fee up front and exposes the cash to USD/EUR movements, which can wipe out the yield for an investor who spends in euros.
CopyTrader and Smart Portfolios
These two features are the main reason to choose eToro. Both run on USD, and neither comes without risk.
- Mirrors a Pro Investor’s positions in real time, in proportion to your realised equity. Only Pro Investor programme members can be copied.
- $200 minimum and $2,000,000 maximum per copied trader; up to 100 traders at once.
- Copied positions smaller than $1 are not opened.
- No extra fee: the same spreads and overnight fees as manual trades. Pro Investors are paid by eToro from assets under copy, not by copiers.
- Copy stop-loss: 40% of the invested amount by default, adjustable from 5% to 95%. It closes the whole copy.
- Requires USD funds and a full suitability assessment.
- Ready-made portfolios in three types: Market, Top Trader and Partner.
- $500 minimum investment, funded in USD.
- Default stop loss of 10%.
- Rebalanced regularly, on periods that differ by portfolio.
- No management fee or commission beyond the costs of the underlying assets. A zero management fee is not a zero cost.
- Track records describe the past. Choosing a trader because of a strong record selects for whoever happened to do well, and past performance does not guarantee future results.
- Trade frequency adds cost. Copying an active trader means your account opens and closes many more positions, each paying spreads and, on CFDs, overnight fees.
- Funds can be locked during reallocation. When you add or remove funds, or the copied trader deposits or withdraws, eToro reallocates the copy over up to 7 business days, and the funds are locked meanwhile.
- It is a form of portfolio management. eToro’s EU terms describe copy trading as a limited form of discretionary portfolio management, which is why a suitability assessment is required first.
UCITS ETFs: check the ticker, then the execution
The core UCITS index funds are listed on eToro. Two things decide what you actually pay and own: the currency the listing trades in, and whether the order executes as a real ETF or a CFD.
- VWCE.DE: Vanguard FTSE All-World UCITS ETF on Xetra, in EUR. No conversion fee from the EUR account.
- SWDA.L: iShares Core MSCI World UCITS ETF on the London Stock Exchange, quoted in pence. This is how the fund is listed on eToro, not under the IWDA ticker.
- CSPX.L: iShares Core S&P 500 UCITS ETF on the London Stock Exchange, in USD.
- Recurring investing is monthly only, from $25 per plan for stocks and ETFs. Each execution opens a new position, and plans cannot be paused.
- eToro states that, due to product restrictions, some non-leveraged ETF buys are executed as CFDs.
- Those positions pay CFD spreads instead of the $0 commission, and you hold a contract with eToro rather than the ETF itself.
- The CFD label shows in the trade execution window, not on the confirmation screen. Check it before every first purchase of a fund.
- SWDA.L and CSPX.L are not priced in EUR, so buying them from the EUR account can trigger the 0.75% conversion.
Regulation, safety, and platform features
- eToro (Europe) Ltd: CySEC licence 109/10, plus a MiCA licence from CySEC (January 2025) for crypto-asset trading and custody across the EEA.
- Investor Compensation Fund: up to €20,000. Real crypto is not covered.
- UK clients: eToro (UK) Ltd, FCA; FSCS up to £85,000. Australian clients: eToro AUS Capital, ASIC.
- Client money is held separately from eToro’s own assets, and may be pooled with other clients’ money in omnibus accounts, including outside the EEA.
- EUR account funds at eToro Money Malta are safeguarded in a designated account at an EU bank. They are not covered by Malta’s Depositor Compensation Scheme.
- Parent company: eToro Group Ltd, an unregulated BVI company, listed on NASDAQ as ETOR and filing with the SEC. eToro’s SEC-registered broker-dealer is its US entity only.
- Unfunded and demo accounts are held with the BVI parent until you fund them.
- Pricing: eToro sets its own prices and may act as the counterparty to your trades.
- Demo account with $100,000 in virtual funds, free to any registered user.
- 24/5 trading on selected stocks. In extended hours, stop-loss and take-profit may be disabled, spreads may be wider and prices may gap.
- No portfolio transfers. Securities generally cannot be transferred in or out; the only named exception is crypto sent to supported wallets.
- Charts powered by TradingView, the Tori AI assistant, and the Investing Academy.
- Verification needs proof of identity and proof of address dated within 3 months, and can take a few days. Deposits are capped at $2,250 until you are verified.
Who eToro fits — and who it doesn’t
- Beginners who want to practise on the $100,000 demo account before committing real money.
- Investors who want CopyTrader (from $200 per trader) or Smart Portfolios (from $500), and accept holding USD to use them.
- EU investors making monthly contributions to a EUR-listed ETF such as VWCE.DE from the EUR account, with no conversion fee.
- Investors at $25,000+ tier balance, or willing to pay $4.99 a month for Platinum: free withdrawals and conversion at 0.45%.
- Investors who mainly buy USD-listed stocks and ETFs with EUR: 0.75% per conversion at the base tier against 0.15% at Trading 212.
- Anyone who may want to move holdings to another broker later: positions generally cannot be transferred out.
- Investors who want interest on idle EUR cash: eToro pays nothing on EUR balances.
- Anyone who needs certainty that every ETF purchase is real ownership: some buys are executed as CFDs.
Interactive Brokers holds cash in 23 currencies, including EUR and USD, and offers two conversion routes: automatic conversion at 0.03% of trade value, or a manual spot FX order from 0.20 basis points (0.002%) with a USD 2.00 minimum per order. Against eToro’s 0.75% on the EUR-account route, IBKR’s automatic conversion is 25 times cheaper (QuantRoutine calculation). For an investor who buys mostly USD assets, that gap outweighs eToro’s zero ETF commission.
See: IBKR currency conversion guide · eToro vs Interactive Brokers
Ready to open an account?
Zero-commission ETFs, CopyTrader from $200 and Smart Portfolios from $500, with a $50 minimum first deposit. Fund through the EUR local-currency account to avoid conversion on deposits and withdrawals; CopyTrader and Smart Portfolios still need USD. If you mainly buy USD-listed assets, compare IBKR first.
Go deeper
Frequently asked questions
Is eToro good for European investors?
It depends on what you buy. eToro charges no commission on real ETFs, although some non-leveraged ETF buys are executed as CFDs and pay CFD spreads instead, marked CFD in the trade execution window. The EUR local-currency account removes conversion fees on deposits, withdrawals and EUR-listed assets such as VWCE.DE. Buying USD assets with EUR costs 0.75% at the base tier, cut by Club discounts to 0.15% at Diamond but never waived, against 0.15% at Trading 212 and 0.5% at XTB. It suits CopyTrader users and buyers of EUR-listed ETFs better than investors who mainly buy US stocks.
Does eToro charge commission on ETF trades?
No. eToro charges no commission on real ETF transactions of any size, whether placed manually, through CopyTrader or through Smart Portfolios, and no custody fee. eToro states that some non-leveraged ETF buys are executed as CFDs because of product restrictions. Those positions pay CFD spreads instead of a commission and are marked CFD in the trade execution window, not on the confirmation screen, so check the execution window before confirming.
What is eToro’s FX conversion fee?
It depends on the route. EUR or GBP deposited straight into the USD account is converted at 150 PIPs, whether by card, wallet, online banking or bank transfer. On a EUR deposit that is $150 per €10,000 whatever the exchange rate (QuantRoutine calculation). Moving money between an EUR local-currency account and USD, including buying non-EUR assets with EUR, costs 0.75%. On that local-account route Club members get 20% off at Silver and Gold, 40% at Platinum and Platinum+ and 80% at Diamond, which works out at 0.60%, 0.45% and 0.15% (QuantRoutine calculation). The fee is never waived for EU clients.
Does eToro charge a withdrawal fee?
Withdrawals from an EUR local-currency account are free. Withdrawals from the USD account cost $5, with a $30 minimum. Platinum, Platinum+ and Diamond Club members pay no withdrawal fees.
What is eToro Club and how do the tiers affect fees?
eToro Club assigns tiers by tier balance: Silver $5,000, Gold $10,000, Platinum $25,000, Platinum+ $50,000 and Diamond $250,000. Platinum can also be bought for $4.99 a month and Platinum+ for $14.99 a month, although eToro states that availability varies by jurisdiction. Silver and above get discounts on local-account conversion fees and access to the eToro Tax Report. Platinum and above pay no withdrawal fees. No tier removes the conversion fee for EU clients: the lowest rate is 0.15% at Diamond (QuantRoutine calculation).
Does eToro pay interest on uninvested cash?
Only on available USD cash, and only after you opt in through the Club Dashboard; interest accrues from the day you opt in. For EU residents the rate is set by total balance band, not by Club tier. eToro pays nothing on EUR, GBP, DKK or AUD balances, treats the interest as discretionary and can renew it at a lower rate. Holding USD to earn it means carrying USD/EUR exchange-rate risk on that cash.
How does eToro CopyTrader work?
CopyTrader mirrors a Pro Investor’s positions in real time, in proportion to your realised equity. You can allocate between $200 and $2,000,000 to each copied trader and copy up to 100 traders; copied positions smaller than $1 are not opened. There is no extra fee: copied trades pay the same spreads and overnight fees as manual trades, and Pro Investors are paid by eToro, not by copiers. A copy stop-loss, set at 40% of the invested amount by default and adjustable from 5% to 95%, closes the whole copy. CopyTrader requires USD funds and a suitability assessment.
Can I buy VWCE or IWDA on eToro?
VWCE is listed as VWCE.DE on Xetra, in EUR, so buying it from an EUR account carries no conversion fee, although the order is routed through USD at the prevailing exchange rate. The iShares Core MSCI World fund is listed as SWDA.L on the London Stock Exchange, not under the IWDA ticker. There is no commission on real ETFs, but eToro states that some non-leveraged ETF buys are executed as CFDs and pay CFD spreads; the trade execution window shows CFD where that applies.
Is eToro regulated and safe?
EU clients are served by eToro (Europe) Ltd, licensed by CySEC under licence 109/10, which also holds a MiCA licence for crypto-assets. The Investor Compensation Fund covers up to €20,000, and real crypto is not covered. Client funds are held separately from eToro’s own assets and may be pooled with other clients’ money in omnibus accounts. The parent, eToro Group Ltd, is an unregulated BVI company listed on NASDAQ as ETOR, and unfunded and demo accounts sit with that parent until funded. eToro states its private insurance of up to €1m is available only to Platinum, Platinum+ and Diamond Club members; its policy document applies a €20,000 retention and a €25m aggregate cap across all claimants, and eToro can withdraw it without notice.
Can I transfer my eToro portfolio to another broker?
Generally no. eToro’s EU client terms state that securities transfers in or out are generally not possible; the only named exception is crypto sent to supported wallets. Leaving eToro means closing your positions and withdrawing the cash.
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Some of the links on this site are affiliate links, meaning we may earn a commission at no extra cost to you if you sign up through them. This does not affect our reviews or recommendations — we only feature products we genuinely believe are useful for investors. This site provides educational content only, not personalized investment advice. Investments can lose value and past performance does not guarantee future results. You are responsible for your own financial decisions and for confirming the tax and legal rules that apply in your country.