What Is eToro?
eToro is a multi-asset investment platform founded in 2007 in Tel Aviv, Israel, by brothers Yoni and Ronen Assia alongside David Ring. Originally launched as RetailFX, the company rebranded to eToro in 2010 and has since grown into one of the world's most recognisable trading platforms, with over 35 million registered users across 100+ countries.
What sets eToro apart from dedicated crypto exchanges is its multi-asset approach. On a single platform, you can trade stocks, ETFs, commodities, forex, indices, and over 100 cryptocurrencies. For London investors who want a unified portfolio view across asset classes, this can be genuinely convenient rather than managing separate accounts for stocks and crypto.
eToro's UK operations are run through eToro (UK) Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 583263. The company has a significant presence in London, with offices in the city contributing to its UK regulatory compliance and customer support operations. eToro is also registered with the FCA as a cryptoasset firm under the Money Laundering Regulations.
The platform's signature feature is CopyTrader, a social trading tool that lets you automatically replicate the trades of successful investors. If you find a top-performing crypto trader on eToro, you can allocate funds to copy their portfolio in real time. It is a concept that has attracted millions of users who prefer a more passive approach to trading, though past performance is, of course, no guarantee of future results.
Key Takeaway
eToro is best suited for London investors who want exposure to crypto alongside stocks and ETFs, and who value social/copy trading features. If crypto is your sole focus, dedicated exchanges like CEX.IO or Kraken offer lower fees and deeper crypto-specific functionality.
eToro Fees Explained for UK Users
Understanding eToro's fee structure is critical, especially for crypto traders. The platform uses a spread-based model rather than the maker/taker fee structure common on dedicated exchanges. Here is what you will actually pay:
Crypto Trading Fees
eToro charges a 1% spread on all cryptocurrency buy and sell orders. This means you effectively pay 1% when you open a position and 1% when you close it, totalling 2% for a round-trip trade. There is no separate commission on top of the spread.
To put this in context: if you buy £1,000 worth of Bitcoin on eToro, you pay approximately £10 in spread on entry. If you then sell at the same price, you pay another £10 on exit, for a total cost of £20. On CEX.IO, the same round trip would cost roughly £5 at a 0.25% maker fee.
Currency Conversion Fees
eToro accounts are denominated in US dollars (USD). This is a notable drawback for UK users. When you deposit GBP, it is converted to USD at a fee of approximately 0.5% (50 pips). You pay the same conversion fee when you withdraw back to GBP. This effectively adds another 1% to your overall costs for a full deposit-trade-withdraw cycle.
Other Fees
- Withdrawal fee: $5 (approximately £4) per withdrawal
- Inactivity fee: $10/month after 12 months of no login
- Stock trading: 0% commission on real stocks (spread still applies)
- Overnight fees: Apply to leveraged/CFD positions (crypto CFDs are not available to UK retail clients)
| Fee Type | eToro | CEX.IO | Kraken |
|---|---|---|---|
| Crypto Trading Fee | 1% spread | 0.25% / 0.16% | 0.26% / 0.16% |
| GBP Deposit | Free + 0.5% FX | Free (Faster Payments) | Free (Faster Payments) |
| Withdrawal Fee | $5 + 0.5% FX | Free (Faster Payments) | £1.95 |
| Min. Deposit | $50 (~£40) | £20 | £10 |
| Account Currency | USD only | GBP, USD, EUR | GBP, USD, EUR |
The fee comparison makes clear that eToro's crypto costs are significantly higher than dedicated exchanges. The 1% spread alone is 4-6x more than what you would pay on CEX.IO or Kraken. When you add the currency conversion fees, eToro becomes one of the more expensive ways to buy crypto in London. That said, if you value the multi-asset and copy trading features, you may consider the premium worth paying.
Copy Trading & Social Features
eToro's CopyTrader system is the platform's main differentiator and the primary reason many London users choose it over dedicated crypto exchanges. Here is how it works in practice:
CopyTrader allows you to browse a feed of "Popular Investors" — verified traders who have opted into the programme. Each trader's profile shows their historical performance, risk score, portfolio composition, number of copiers, and trading statistics. When you choose to copy a trader, eToro automatically replicates their trades in your account, proportionally scaled to your allocated amount.
The minimum amount to copy a single trader is $200 (approximately £160). You can copy up to 100 traders simultaneously and can stop copying at any time. Popular Investors earn a commission based on the number of copiers they attract, creating an incentive for them to maintain strong, transparent track records.
Beyond CopyTrader, eToro functions as a social network for investors. You can follow other traders, post updates, comment on market events, and join discussions. The Smart Portfolios feature (formerly CopyPortfolios) offers professionally curated thematic portfolios, including crypto-specific ones like the "CryptoPortfolio" that bundles the top cryptocurrencies by market cap.
Expert Insight
I tested eToro's CopyTrader by allocating £500 to three different crypto-focused Popular Investors over a six-month period. The experience was mixed. One trader delivered solid returns, one was flat, and one lost money. The key lesson: copy trading is not a shortcut to guaranteed profits. You still need to do your homework on the traders you follow — check their risk scores, drawdown history, and how long they have been trading. The social feed can also be noisy, with plenty of hype-driven posts that you need to filter out.
Cryptocurrency Selection
eToro lists over 100 cryptocurrencies for UK users, covering all major assets and a solid selection of altcoins. The lineup includes:
- Major coins: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT), Avalanche (AVAX)
- DeFi tokens: Uniswap (UNI), Aave (AAVE), Chainlink (LINK), Maker (MKR)
- Meme coins: Dogecoin (DOGE), Shiba Inu (SHIB)
- Layer-2 and infrastructure: Polygon (MATIC), Arbitrum (ARB), Optimism (OP)
- Stablecoins: Tether (USDT), USD Coin (USDC)
While 100+ cryptos is a respectable selection, it falls short of dedicated exchanges. Kraken lists 250+ and CEX.IO offers 200+. If you are looking for newer, lower-cap tokens, you will likely find them on a dedicated exchange before they appear on eToro.
eToro Money Crypto Wallet
eToro offers the eToro Money crypto wallet as a separate mobile app. It allows you to transfer supported cryptocurrencies from the eToro trading platform to the wallet and then send them to external blockchain addresses. This addresses one of the biggest criticisms of eToro's early crypto offering, which did not allow withdrawals at all.
However, the wallet has limitations. Not all coins on the platform can be transferred to the wallet, transfers from the platform to the wallet can take up to five business days, and the process involves additional verification steps. If self-custody and the ability to move your crypto freely are priorities, a dedicated exchange with instant withdrawal capabilities will serve you better.
Platform & User Experience
eToro's interface is clean, modern, and deliberately designed to be approachable for beginners. The web platform and mobile apps share a consistent design language, and the social feed gives the experience a feel closer to a financial social network than a traditional trading terminal.
The web platform provides access to all features including trading, copy trading, portfolio management, the social feed, and account settings. Charting tools are functional but basic compared to what you would find on Kraken Pro or CEX.IO's advanced trading interface. There are no advanced order types like OCO (one-cancels-other) or trailing stops for crypto positions.
The mobile apps (iOS and Android) are well-built and mirror the web experience closely. Push notifications for price alerts, copied trader activity, and social interactions work reliably. The app is one of the higher-rated finance apps on both app stores in the UK.
For UK users specifically, eToro supports GBP deposits via bank transfer and debit/credit cards. However, remember that all deposits are converted to USD, so your portfolio balance and P&L are always displayed in dollars. This can be mildly annoying if you think in pounds, though the app does show approximate GBP equivalents.
Security & Regulation
Security is where eToro's established reputation provides some reassurance. As an FCA-regulated firm, eToro (UK) Ltd must comply with strict rules around client money segregation, capital adequacy, and operational resilience. Key security features include:
- FCA regulation: Authorised and regulated under FRN 583263, with crypto registration under the Money Laundering Regulations
- Two-factor authentication (2FA): Available via SMS or authenticator app
- Segregated client funds: Client money is held separately from company funds in accordance with FCA CASS rules
- Insurance: eToro maintains insurance coverage for certain cases of unauthorised access, though this does not cover market losses
- Regulated custody: Crypto assets are held by eToro on behalf of clients, with institutional-grade custody solutions
It is important to note that while eToro is FCA regulated, cryptocurrency investments are not covered by the Financial Services Compensation Scheme (FSCS). This is true across all UK crypto platforms, not just eToro. Your stocks and shares held on eToro may qualify for FSCS protection up to £85,000, but your crypto does not.
Pros & Cons for London Users
Pros
- FCA regulated with strong UK presence and compliance track record
- Unique CopyTrader and social trading features not available on crypto-only exchanges
- Multi-asset platform: trade stocks, ETFs, and crypto from a single account
- 100+ cryptocurrencies including all major coins and solid altcoin selection
- Smart Portfolios offer diversified, professionally curated crypto baskets
- Clean, beginner-friendly interface on web and mobile
- eToro Money wallet enables crypto withdrawals to external addresses
- 0% commission on stock trades alongside your crypto
- Large community of traders for social interaction and market discussion
Cons
- 1% crypto spread is 4-6x higher than dedicated exchanges like CEX.IO or Kraken
- USD-denominated accounts mean GBP deposits incur a 0.5% currency conversion fee
- $5 withdrawal fee on every withdrawal
- $10/month inactivity fee after 12 months of no logins
- Not all cryptos can be transferred to the eToro Money wallet
- Wallet transfers can take up to 5 business days
- Limited advanced trading tools compared to dedicated exchanges
- No Faster Payments support — bank transfers can be slower to process
- Staking options are limited and take a share of your staking rewards
How to Buy Crypto on eToro from London — Step by Step
Create Your eToro Account
Visit etoro.com and click "Join Now." Enter your name, email, and create a password. You can also sign up with Google or Apple ID. eToro will send a verification email — click the link to confirm your address.
Complete KYC Verification
UK regulations require identity verification before you can trade. Upload a valid UK passport or driving licence, plus a proof of address document (utility bill or bank statement dated within the last 3 months). eToro also requires you to complete a short appropriateness assessment about your trading knowledge and financial situation. Verification typically takes 1-3 hours but can take up to 3 business days during busy periods.
Deposit GBP
Navigate to "Deposit Funds" and choose your payment method. Bank transfer and debit card are the most common options for UK users. The minimum deposit is $50 (approximately £40). Remember that your GBP will be converted to USD at a 0.5% fee. After your first signup, there is a mandatory 24-hour cooling-off period before your first trade.
Search for Your Cryptocurrency
Use the search bar at the top of the platform to find Bitcoin, Ethereum, or any of the 100+ supported cryptocurrencies. Click on the asset to see its price chart, social feed, stats, and research data. Click "Trade" to open an order ticket.
Place Your Trade
Enter the amount you want to invest (minimum $10 per crypto trade). Ensure "Leverage" is set to "x1" for real crypto ownership — any leverage above x1 means you are trading a CFD, which is not available for crypto to UK retail clients. Click "Open Trade" to confirm. Your position will appear in your portfolio immediately.
Optional: Transfer to eToro Money Wallet
If you want to move your crypto to a personal wallet, download the eToro Money app. From the trading platform, select your crypto position and choose "Transfer to Wallet." Note that this process can take up to 5 business days. Once in the eToro Money wallet, you can send crypto to any external blockchain address.
Important: 24-Hour Cooling-Off Period
UK regulations require a 24-hour waiting period after your first signup before you can place your first trade. Use this time to explore the platform, browse Popular Investors, and research which assets you want to buy. You can still access your virtual portfolio ($100,000 in demo funds) during this period to practise.
Who Should Use eToro?
eToro occupies a specific niche in the London crypto landscape. It is not the cheapest, not the most feature-rich for crypto, and not the best for self-custody enthusiasts. But for certain types of investors, it fills a gap that no other platform quite matches:
- Multi-asset investors: If you want stocks, ETFs, and crypto in a single account with a unified portfolio view, eToro is one of the few regulated platforms that delivers this in the UK.
- Passive/social investors: If you prefer to follow and copy experienced traders rather than making your own trading decisions, CopyTrader is a genuinely useful feature with no real equivalent on dedicated exchanges.
- Beginners who want community: The social feed and community discussions can help newcomers learn from more experienced investors, though you should always verify information independently.
Conversely, eToro is not ideal for:
- Active crypto traders: The 1% spread eats into profits on frequent trades. You will save significantly on a dedicated exchange.
- DeFi enthusiasts: Limited withdrawal options and slow transfer times make eToro a poor choice if you want to interact with DeFi protocols.
- Cost-conscious buyers: Between the spread, currency conversion fees, and withdrawal fees, eToro is one of the most expensive ways to buy crypto in London.
eToro vs CEX.IO: Which Is Better for London Crypto Buyers?
Since many of our readers are choosing between eToro and dedicated crypto exchanges, here is a direct comparison with our top-rated platform, CEX.IO:
| Feature | eToro | CEX.IO |
|---|---|---|
| Crypto Trading Fee | 1% spread | 0.25% / 0.16% |
| Cryptos Available | 100+ | 200+ |
| GBP Account | No (USD only) | Yes |
| Faster Payments | No | Yes (free) |
| Copy Trading | Yes | No |
| Stocks & ETFs | Yes | No |
| Crypto Withdrawals | Via wallet app (slow) | Direct (fast) |
| FCA Regulated | Yes | Yes |
| Min. Deposit | $50 (~£40) | £20 |
| Best For | Multi-asset & copy trading | Dedicated crypto trading |
The verdict: If you want dedicated crypto trading with the lowest fees, native GBP support, and instant Faster Payments, CEX.IO is the stronger choice for London users. If you want crypto alongside stocks, ETFs, and copy trading in a single platform, eToro offers a unique combination that CEX.IO does not.
eToro's History & London Presence
eToro was founded in 2007 in Tel Aviv, Israel, and launched its first trading platform in 2008. The company pioneered the concept of social trading and has been at the forefront of making financial markets accessible to retail investors. Key milestones include:
- 2007: Founded in Tel Aviv by Yoni Assia, Ronen Assia, and David Ring
- 2010: Launched the OpenBook social trading platform (later integrated into the main platform)
- 2013: Introduced stock trading alongside forex and commodities
- 2017: Added cryptocurrency trading, starting with Bitcoin and Ethereum
- 2018: Launched the eToro crypto wallet
- 2019: eToro UK Ltd received FCA authorisation, strengthening its London operations
- 2021: Announced plans for a US IPO via SPAC merger (later shelved due to market conditions)
- 2023: Expanded crypto offerings to 100+ coins and relaunched the wallet as eToro Money
- 2025: Continued UK expansion with enhanced GBP support and compliance with new FCA crypto registration requirements
eToro has raised over $270 million in funding from investors including SoftBank, China Minsheng Financial, and Spark Capital. The company maintains offices in London, Tel Aviv, Sydney, and several other cities. Its London presence includes a team focused on UK regulatory compliance, customer support, and business development, making it a genuinely accessible platform for London-based users who need support.
Staking on eToro
eToro offers staking for a limited selection of proof-of-stake cryptocurrencies, including Ethereum (ETH), Cardano (ADA), and Tron (TRX). The process is automatic — if you hold eligible coins, eToro stakes them on your behalf and distributes rewards monthly.
However, there is a significant catch: eToro takes a share of your staking rewards. The percentage you receive depends on your eToro Club membership tier:
- Bronze/Silver members: Receive 75% of staking rewards
- Gold/Platinum members: Receive 85% of staking rewards
- Diamond/Platinum+ members: Receive 90% of staking rewards
By comparison, staking directly through a dedicated exchange or your own wallet typically earns you 100% of the rewards (minus any network fees). If staking income is important to your strategy, this is another area where eToro's convenience comes at a cost.