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Vanguard RevieweToro UK Review
Written by Elizabeth Anderson
Fact-checked by Steven Hatzakis
Edited by Carolyn Kimball, Jeff Anberg
Your capital is at risk.
EToro is an investing platform offering a wide range of stocks and instruments. It is well-known for its ‘social trading’ approach, allowing users to see and copy other people’s portfolios. EToro has among the lowest fees and best mobile app experiences of brokers we tested in the U.K.
I find that eToro offers a great starting point for those new to stock trading, but does appear to be more suited to short-term traders rather than long-term investors. That said, eToro now offers an ISA in partnership with Moneyfarm, which is a great way to make sure you don’t incur tax on any growth in your investments.
-
Minimum Deposit:
$50 -
ISA:
Yes -
SIPP:
No
eToro pros & cons
Pros
- Very cheap: Commission-free trading for stocks and ETFs and no custody charges.
- Can open a virtual account to test and practice.
- Offers the chance to trade crypto.
- Great mobile app.
- Now offers an ISA and the ability to trade in GBP rather than USD.
Cons
- Limited investment options for everyday investors: no bonds, mutual funds or investment trusts.
- Some hidden fees, such as $5 withdrawal charge and FX charges for non-USD.
- No eToro SIPP account option.
Overall summary
| Feature |
eToro
|
|---|---|
| Overall Rating |
|
| Charges & Fees |
|
| Investment Choices |
|
| Mobile App |
|
| Website |
|
| Ease of Use |
|
| Education |
|
Charges and fees
EToro has the lowest fees of most of the brokers we review. It’s free to open and hold an account, there are no management fees or custody charges and there are no trading charges when buying or selling most investments. In contrast, Hargreaves Lansdown and AJ Bell — two of the U.K.’s biggest DIY investment platforms — charge £11.95 and £5 per trade respectively. You can start investing at eToro from $10.
However, there are some hidden charges to be aware of. EToro makes its money by charging currency conversion fees, for enacting more complex trades such as crypto, and by charging for CFD positions held overnight. CFDs should only be traded by experienced investors willing to take a high risk – most everyday investors should not touch these since half of all traders lose money when trading CFDs with eToro.
Fees are on the higher side for the eToro ISA, with average fees of around 1% a year. This is a small percentage for those with small portfolios but for those with a large investment portfolio — such as a value of more than £30,000 — other ISA providers charging a flat fee instead, like Vanguard or Interactive Investor, may be cheaper.
EToro also charges a $5 fee for withdrawals from your account, with a minimum withdrawal amount of $30. Most trading is done in U.S. dollars, meaning in the U.K. you’ll also pay currency conversion fees when paying money into your account or withdrawing money. A typical charge of $0.005 is applied on foreign exchange (FX) conversions.
As an example of fees you’ll pay, if you are depositing £2,000 into an eToro account you’ll pay a currency conversion fee of $7 (£5.70) with rates of $1.23 per £1. This same fee would apply if you withdraw your money, on top of the $5 withdrawal fee (around £4).
However, eToro now offers the option to add money to an eToro GBP or EUR wallet, meaning you can make trades in pounds or euros and save money on currency conversion fees to U.S. dollars. You essentially pay no fees at all now if investing in U.K. stocks and ETFs when buying in pounds rather than dollars.
Scenario pricing: When calculating annual share dealing costs, trading frequency and account balance are the two most important factors to consider. Assuming a £30,000 portfolio in a traditional, taxable share dealing account, here are five scenarios of how much eToro would cost based on trade frequency:
- 5 trades per year = £0
- 12 trades per year = £0
- 36 trades per year = £0
- 120 trades per year = £0
- 3 fund trades per year = N/A
| Feature |
eToro
|
|---|---|
| Minimum Deposit | $50 |
| Share Trading: 0-9 Deals/ Month | £0 |
| Share Trading: 10-19 Deals/ Month | £0 |
| Share Trading: 20+ Deals/ Month | £0 |
| Annual Custody Fee: £0 - £250,000 | £0 |
| Annual Custody Fee: £250K-£500K | £0 |
| Annual Custody Fee: £500,000 - £1m | £0 |
| Annual Custody Fee: £1m and over | £0 |
| Bonds - Corporate - Fee | N/A |
| Bonds - Government (Gilts) - Fee | N/A |
| ETFs - Fee | £0 |
| Investment Trusts - Fee | N/A |
| Telephone Dealing Fee | N/A |
What type of trader are you?
New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.
Mobile trading apps
The eToro U.K. mobile app is very sophisticated and offers far more than the mobile app offering of traditional brokers including Halifax, Barclays and Fidelity. You can easily see your watch list, view markets, find investments and see what other traders are doing. You can even simulate the portfolio of investing legend Warren Buffet.
I found the eToro app one of the best among the brokers we reviewed as it’s easy to navigate and there are loads of features and functions. It’s easy to buy and sell stock through the app, and you can easily search by category such as ‘dividend’, recently added or popular stocks.
The charting tools are also very good on the mobile app – again, a feature not always offered by brokers on their mobile apps. EToro has more than 100 chart indicators and drawing tools available, such as the ability to switch to candlestick view and to add Bollinger Bands to help assess whether a share price is high or low.
EToro also has Delta, an app that gives more detailed portfolio analysis and tracking across all your eToro investments including crypto wallets and exchanges. This is free for members of eToro Club — those who have a minimum of $5,000 in an eToro account. There is also a paid version for those wanting deeper investment insights and extended market hours. However, Delta is probably not needed for most investors as there is enough offered already on the main eToro app.
Tap for a demo of eToro's U.K. trading app.
Website
The eToro website offers a great platform for people to manage their investments. There are clear links to upcoming earnings announcements that day and to big daily movers. The homepage is dominated by the social news feed, featuring updates from other users about their portfolios.
You can create a watch list to track stocks, crypto, indices and commodities, and explore global markets to see the biggest daily gainers and losers worldwide. The website gives investments an ESG score (environmental, social and governance) when you select a stock or fund. This is a great feature for investors becoming more aware about the potential environmental impact of their investments.
I also like the box-out feature that gives context on why a company stock is moving as well as the new ‘did you know?’ box that features a fact about the company you’re viewing — such as that Amazon was initially incorporated as Cadabra before being renamed a year later.
You can now also invest through an eToro ISA, which shelters your investments from potential capital gains or dividends tax. The ISA is powered by Moneyfarm, another digital UK investment provider. You access your account through the eToro website or app, although it is held on a separate platform.
| Feature |
eToro
|
|---|---|
| Web Platform | Yes |
| iPhone App | Yes |
| Android App | Yes |
| Stock Alerts | Yes |
| Charting - Indicators / Studies | 106 |
| Charting - Drawing Tools | 56 |
| Charting - Notes | Yes |
| Charting - Display Corporate Events | No |
| Charting - Stock Overlays | Yes |
| Charting - Index Overlays | Yes |
Investment choices
In addition to share and ETF trading, eToro users can deal forex, CFDs, and cryptocurrencies such as bitcoin and ethereum. However, eToro does not offer mutual funds, bonds or investment trusts, which limits investor choice.
As there are thousands of investments to choose from on the eToro platform, I can see that it could feel overwhelming – especially if you are new to investing or stock trading. The good news is that you can open a virtual account through eToro so you can practice making trades and getting to grips with the platform. You’re given a hefty $100,000 in your practice account, making it easy to go on a virtual spending spree.
To make things a little easier for newer investors, eToro offers ‘Smart Portfolios,’ which are designed more for long-term investing. You can select a portfolio according to your interest, such as financial services, AI, or real estate.
EToro is also well-known for its ‘CopyTrader’ system that allows users to follow and even replicate other people’s portfolios – for example, when they buy or sell shares, your account can be set to automatically do the same. This can be risky for investors, though, as it’s a gamble whether their moves will be profitable long-term. Personally, I would be wary of copy trading without doing a good deal of research into the trader’s track record — and even then, returns are of course never a certainty. Unlike funds that aim to achieve diversification, there is no governance or guarantee that risk management has been applied.
EToro has also recently expanded its selection of stocks, adding 1,000 smaller U.K. company stocks in 2024 — taking the total to 1,400.
| Feature |
eToro
|
|---|---|
| Share Trading | Yes |
| CFD Trading | Yes |
| ETFs | Yes |
| Funds | No |
| Bonds - Corporate | No |
| Bonds - Government (Gilts) | No |
| Investment Trusts | No |
| Spread Betting | No |
| Crypto Trading | Yes |
| Advisor Services | No |
Education
Research on stocks and ETFs at eToro is more limited than other platforms such as Barclays and Hargreaves Lansdown, which offer a huge array of research and educational material. There is not much detail on the investments you are considering, and it’s not easy to view and compare historical performance. However, data on U.K. stocks has increased this year to help investors understand more about U.K. companies thanks to a partnership between eToro and the London Stock Exchange.
Full research and news is only available to those who have put money in their accounts, and don’t just hold a demo account. However, through eToro’s ‘research’ tab, it's useful to see analyst consensus on individual stocks — such as whether they think it is a good buy and their price target for the stock.
| Feature |
eToro
|
|---|---|
| Education (Share Trading) | Yes |
| Education (Funds) | No |
| Education (Retirement) | No |
| Client Webinars | No |
| Client Webinars (Archived) | No |
Final thoughts
EToro U.K. offers a great experience for beginners. In my opinion, the platform is more suited to those looking to trade stocks short-term than those looking to hold funds or invest long-term. It also offers a good demo account to help people learn about trading without the prospect of losing any real money.
However, there are some hidden fees and the minimum amount required to open an account is $50. If you are looking to trade very small amounts, a platform such as Freetrade, Robinhood, or Trading 212 may be a better fit for you.
EToro also does not offer SIPPs, meaning you cannot invest through a pension on eToro. However, you can now trade through an eToro ISA for tax-efficient investing.
About eToro
As an early pioneer in social copy trading, eToro was founded in Israel in 2006 as a financial trading technology developer. The company remains based in Israel and is regulated in the U.K., Europe, Australia, Gibraltar and the U.S., and serves clients in over 170 countries. EToro says it has around 3.8 million registered U.K. users and more than 35 million worldwide.
Is eToro safe?
EToro is regulated by multiple regulators worldwide. In the U.K., it is regulated by the Financial Conduct Authority. This means it is trusted to look after your money, and you are protected for up to £85,000 should the company cease trading for any reason. EToro has two-factor authentication when logging into your account, reducing the risk of your account being hacked.
Is eToro good to use in the UK?
EToro offers a great service to many investors. If you are simply looking to trade company shares, then eToro is very competitive on price compared to the more traditional brokers. However, if you are looking for wider investment options, or your risk appetite is lower, then there may be better options for you with other brokers – such as Hargreaves Lansdown, Interactive Investor, AJ Bell, or Fidelity – where you can invest in mutual funds or ready-made portfolios put together by professionals.
What is the downside to eToro?
Downsides to eToro include the fact it doesn’t offer bonds, mutual trusts or investment trusts. There are also some fees, including for currency conversion and to withdraw money. Finally, eToro doesn’t offer a SIPP so you can’t benefit from tax relief offered by the government to Britons saving through a pension.
Does eToro have an ISA?
Yes, eToro has partnered with U.K. investment platform Moneyfarm to offer an ISA. Moneyfarm operates and manages the ISA externally, with the ISA integrated into eToro customers’ accounts.
How does eToro compare to other brokers?
For an in-depth look at how eToro compares to other brokers, check out our compare tool. See the table below for a quick overview of how it stacks up against its main competitors.
| Company | Overall Rating | Charges & Fees | Annual Custody Fee: £0 - £250,000 | Share Trading: 20+ Deals/ Month | ISA | SIPP | Crypto Trading |
 Interactive Investor
|
|
|
£59.88 - £143.88 | £3.99 | Yes | Yes | No |
 Trading 212
|
|
|
£0 | £0 | Yes | No | No |
|
eToro
|
|
|
£0 | £0 | Yes | No | Yes |
 Webull
|
|
|
£0 | 0.025% | No | No | No |
 Robinhood UK
|
|
|
£0 | £0 | No | No | No |
 Revolut
|
|
|
£0 - £45 | 0.25% or £1 | No | No | Yes |
Who is eToro right for?
eToro is right for beginner investors who wish to use a cheap platform to trade short-term investments. In addition to providing markets that aren't normally seen in other mainstream U.K. brokers, like forex, CFDs, and cryptocurrencies such as bitcoin and ethereum, eToro offers social copy trading, allowing traders to explore the strategies of other investors. eToro may not be as good for long-term investors and savers due to the lack of investment options like bonds, mutual funds or investment trusts.
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Methodology
For the UK.StockBrokers.com Annual Awards, we assessed, rated, and ranked 21 U.K. share dealing platforms. 21 U.K. brokers were assessed on 55 different variables across six categories: Charges & Fees, Investment Choices, Mobile App, Website, Education and Ease of Use.
We thoroughly tested and compared features of interest to everyday investors, including but not limited to:
- Investment choices, such as whether the broker offers trading of shares, ETFs, funds, bonds, and CFDs; and offers SIPP and ISA accounts.
- The broker’s charges and fees for investing.
- Functionality and design of mobile apps and website platform, and a fluid experience moving between app and web.
- Usability of tools such as charting and watch lists.
- Market research, such as screening, news and analysis.
- Educational resources including tutorials, online courses, videos, webinars and articles.
Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors with quality data they can trust. Our lead researcher and writer, Elizabeth Anderson, has more than a decade’s experience as a financial journalist and market researcher. Elizabeth’s expertise is backed by a team of veteran fellow traders, data auditors, editors and project managers who work to ensure that UK.StockBrokers.com reviews and guides are the most unbiased and complete in the industry. Read more about our team.
About the Editorial Team
Elizabeth Anderson, lead writer and researcher, has been a financial journalist for more than a decade. In addition to her work with UK.StockBrokers.com, she has written extensively for major publications including BBC, The Times and Bloomberg. A keen investor herself, she is passionate about helping people understand finance and investing.
Steven Hatzakis is the Global Director of Online Broker Research for UK.StockBrokers.com and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Carolyn Kimball is a former managing editor for Reink Media and former lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.
Jeff Anberg is a Senior Editor at UK.StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.