What to learn from eToro’s reviews on Reddit
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eToro is a popular trading platform in the world. The outstanding advantage is diversified investment assets. Besides, eToro also has a Copytrading feature. That helps eToro attract investors to join the trade.
The following article summarizes the reviews of eToro on Reddit by world users. If you are a new user, read on before investing in the platform for an authentic look.
What is Reddit?
Reddit is the 6th most popular website in the US and the 18th globally. Reddit is known as a website that allows users to exchange information online. On Reddit, users post content on various topics such as cryptocurrency, news, and other areas such as sports or parenting. Reddit users can post self-written content or Links from other sources.
Reddit became even more famous through the GameStop (GME) stock event. The war rocked Wall Street and American politics when retail investors on Reddit united against mutual funds.
Positive review of eToro on Reddit
The Reddit community has pretty good reviews about eToro. They have a group for the eToro keyword.
Most of the reviews come from users in Europe like the UK and France… US users often talk about crypto investment since customers in the US can only trade cryptocurrencies on the exchange.
Here are the positive reviews:
- The eToro platform interface is friendly and easy to use. Even users prefer to choose to invest on eToro over other brokers just because of this. User ST3N_ST3N also said that this is the most beautiful interface he has ever seen on an investment platform.
- You can start investing from a small amount of capital, from only 200usd. User Alarizpe “You can start with as little as 200 USD (not sure if it’s 200 GBP), and it gives you a good basic feel of what it’s like to invest….After you get the hang of it, get yourself a real broker.”
- Diversified investment products. eToro has US stocks, European stocks, Asian stocks, cryptocurrencies… Many customers from Europe want to invest in stocks listed on the Hong Kong market.
- Practical copy trading investment feature. Copy-trading gives investors the option of copying any famous investor’s portfolio. And your investment trade precisely like that famous investor.
- eToro is suitable for long-term investors, trading without leverage, as it has a 0% commission fee for stocks and cryptocurrencies. User md3372 “The platform is safe. It’s good for long-term trading – otherwise, there are technical glitches during major market events (if you plan to buy or sell every 3minutes, eToro is not for you, in my opinion).”
Most people encourage new investors when participating in investing to use eToro. eToro is a great way for “beginners” to learn the trading and investment processes.
A negative review of eToro on Reddit
Like any exchange, eToro also has negative user complaints. We summarize those reviews below.
- The spread is high compared to traditional exchanges.
- The stocks you buy on eToro are fractional shares. User ytrewq63 said, “You don’t own the share. EToro is the owner./ if you want to leave eToro, as you are not the shareowner, you cannot transfer your shares to a new broker. You have to sell your shares, transfer the money and buy back the shares / You cannot vote at the shareholder’s meetings. This was an issue for GME and AMC shareholders. They made an effort and allowed voting for GME./ I have no idea if they get PFOF (pay for order flow)./ You cannot choose in which market you want your shares to be bought/sold./ They had some operational issues in January when GME was Gama squeezing./ There are a lot of posts complaining when they want to withdraw money.”
- The customer care system is overloaded, making users unable to assist in solving problems quickly.
- You have difficulty withdrawing money if you lack legal documents to provide investment funds. Because eToro is very strict about anti-money laundering on their investment platform. If the law shows money laundering activities, FCA and ASIC may revoke eToro’s license to operate.
In addition, most of the other negative reviews are due to users not understanding the problem adequately or lack of knowledge when starting to trade.
Why is the eToro review on Reddit so appreciated?
Reddit is a place to share all the information in the world. And the user is the one who provides the content and decides whether the content is valuable or not through voting.
Valuable items on Reddit get upvoted, and vice versa. Invalid or inaccurate content gets downvoted. This principle determines the placement of content posted on Reddit. Valuable content is put on the front page to be viewed by tens of thousands of people. Therefore, the reviews of eToro on Reddit are of great significance to newbies who want to know about the credibility of this trading platform.
The comments section is the most important on Reddit. Because users have the freedom to comment their views on the issue of the shared post, this is a helpful place to find transparent review information. However, users need to be alert and know how to distinguish which comments are from real users and which comments are advertising or posted by competitors to “dump” each other.
Therefore, the information on Reddit is for reference only. If a post is not helpful or contradictory, users can refer to the comments below. Reddit helps you get more perspectives and perspectives from other users around the globe.
First, users should learn and make their own decisions. There are thousands of different reviews on Reddit every day. But only you know what to do to protect your investment.
eToro or any broker has its pros and cons. What matters is which platform suits your needs best. In addition, you can also use 2-3 different trading platforms simultaneously.
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