Is eToro Good for Beginners in the UK? A Clear, Honest Review
Quick Answer - Is eToro Good For Beginners?
Yes. eToro is beginner-friendly with its user interface, demo account, and CopyTrader. Still, UK users should be aware of fees, no ISA support, and market risks. Ideal for learning and experimenting with investing.
- Minimum Deposit: $50 (via UK bank transfer)
- Copy top-performing traders across a wide range of assets
- FCA regulated and compliant with UK crypto marketing rules
- User-friendly platform with social trading and mobile app support
- Perfect for beginners and casual investors looking to follow expert strategies with ease
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 61% of retail CFD accounts lose money when trading CFD’s with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What Is eToro?
How Does eToro Work for Beginners?
Beginners can use eToro’s demo account to practise trading risk-free. Real accounts allow buying assets or copying other traders. The platform simplifies investing through one-click trades, mobile access, and educational resources tailored to new users.
What Are the Costs and Fees on eToro?
- Commission-free stock trading
- FX fee on non-USD deposits and conversions
- $5 withdrawal fee
- Inactivity fee after 12 months
- Wider spreads on crypto and CFD assets compared to traditional stocks
Click here for more information on eToro’s Fees.
Why Is eToro Considered Beginner-Friendly?
eToro is beginner-friendly due to its intuitive design, free demo account, and CopyTrader feature. These tools help first-time investors build confidence, practise trading safely, and learn by observing real-time strategies from experienced traders without needing advanced financial knowledge.
Is eToro Easy to Use?
Yes. eToro’s platform is designed for ease of use, featuring simple navigation, clean visuals, and clear trade execution. Even those with no trading background can start quickly with minimal setup and guidance.
Can Beginners Learn from Others?
Yes. eToro’s CopyTrader lets beginners replicate the trades of top investors automatically. You can view their performance history, risk levels, and strategies before copying, making it easy to learn by example while investing.
What Are the Pros and Cons for New Investors?
- Simple onboarding process
- Copy trading enables passive investing
- Access to stocks, ETFs, crypto, and global markets
- No ISA account for UK tax efficiency
- All trading is in USD (conversion fees apply)
- High-risk CFDs and leverage options not suitable for all beginners
How Does eToro Compare to Other UK Trading Platforms?
While eToro is easier to use and great for learning via CopyTrader, it lacks ISA support and can incur FX fees. IG and XTB offer more traditional structures and educational tools, but with steeper learning curves and no copy trading.
| Feature | eToro | IG | XTB |
|---|---|---|---|
| Ease of Use | Very beginner-friendly | Moderate | Moderate |
| Copy Trading | Yes (CopyTrader) | No | No |
| ISA Account | No | Yes | Yes |
| FX Fees (GBP to USD) | Yes | No (GBP available) | No (GBP available) |
| Minimum Deposit | $50 (around £40) | £250 | £0 |
What’s the Step-by-Step Guide to Starting with eToro?
1. How Do You Register on eToro?
Create an account using your email, Google, or Facebook. The process takes only a few minutes and requires basic personal information.
2. How Do You Verify Your Identity?
To comply with UK regulations, upload a valid photo ID and recent proof of address. Verification usually takes less than 24 hours.
3. How Do You Deposit Funds?
Fund your account in GBP via bank transfer, debit card, or digital wallets like PayPal or Skrill. Minimum deposit is $50.
4. What Can You Do First on the Platform?
Use the demo account to practise, explore top traders with CopyTrader, or buy your first stock with real funds.
What Beginner Mistakes Should You Avoid on eToro?
- Using high leverage without understanding the risks
- Ignoring fees, FX charges, and spreads
- Copying traders without reviewing their strategy or history
- Failing to use stop-loss or risk management tools
Is eToro Right for Your Investor Type?
eToro suits casual investors, long-term stock buyers, and passive users leveraging CopyTrader. However, it may not appeal to advanced traders or tax-focused UK investors due to the lack of ISA support and limited customisation for complex strategies.
Conclusion: Is eToro Worth It for New UK Investors?
Yes. eToro is ideal for UK beginners wanting a user-friendly, feature-rich platform. Just be aware of the costs, lack of ISA, and potential trading risks before getting started. It’s best for learning, experimenting, and low-commitment investing.
eToro is a multi-asset platform which offers both investing in stocks and
cryptoassets, as well as trading CFDs.
CFDs are complex instruments and come with a high risk of losing money
rapidly due to leverage. 61% of retail investor accounts lose money when
trading CFDs with this provider. You should consider whether you
understand how CFDs work, and whether you can afford to take the high risk
of losing your money.
This communication is intended for information and educational purposes
only and should not be considered investment advice or investment
recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your
investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a
high-risk investment and you should not expect to be protected if something
goes wrong.
eToro USA LLC does not offer CFDs and makes no representation and
assumes no liability as to the accuracy or completeness of the content of this
publication, which has been prepared by our partner utilizing publicly
available non-entity specific information about eToro.
Trade Smarter, not Harder
- Copy Trading
- Competitive Fees
- Multi-Asset Platform
61% of retail CFD accounts lose money when trading CFD’s with this provider.
FAQs
Is eToro Safe for UK Users?
Yes eToro is safe. eToro is regulated by the Financial Conduct Authority (FCA) in the UK, ensuring high standards of security and compliance. Funds are also protected in segregated accounts for added safety.
How Does eToro’s CopyTrader Feature Work?
The CopyTrader tool allows users to replicate the trades of experienced investors. Simply choose a trader based on their performance, risk score, and portfolio, and allocate funds to start copying their trades automatically.
Does eToro Support Cryptocurrencies?
Absolutely! eToro supports over 70 cryptocurrencies, including Bitcoin, Ethereum, and Solana, making it an excellent choice for crypto enthusiasts.
Is eToro safe and legit?
Yes, eToro is a regulated broker licensed by the FCA (UK), ASIC (Australia), and CySEC (EU). It has security measures like two-factor authentication (2FA) and SSL encryption, but users should be aware of trading risks.
How long do eToro withdrawals take?
Withdrawals typically take 1–8 business days, depending on the payment method. Bank transfers take longer than PayPal or credit/debit cards. To avoid delays, ensure your account is fully verified before requesting a withdrawal.
