eToro is one of the most popular and reliable online brokers. The company started offering services in 2007 and now has more than 13 million users in over 140 countries. Offering a social investing platform, eToro offers an innovative feature that will allow you to copy the trades conducted by other users. Members will enjoy trading stocks, forex, cryptocurrencies, and commodities worldwide but in the US, the only trading option is cryptocurrency.
eToro has been a trusted company since it started operating and is regulated by the Financial Conduct Authority in the United Kingdom. It has a license to operate in other European countries and the needed credential that will allow US traders comfort in knowing their trades are conducted securely. Since US users can only trade cryptocurrencies, this broker is best for social or copy trading and there are more than 15 cryptos that are offered.
If you are looking for a reliable company that offers safe trading of cryptocurrencies from the US, be sure to take some time to check out the amazing features that will be offered at eToro. You will enjoy a secure platform and can also engage in mobile trading at any time. Here are the key features that make eToro stand out from others in the market.
- Social Trading – With the ability to copy other traders and conduct trades automatically, new users can find experienced and skilled traders and copy what they do. As many as 100 traders can be copied and the trade amounts range from $200 to $50,000. For those new to crypto trading, this is a great way to learn what to look for by following the actions of those with experience.
- Multiple Cryptos Offered – At this time, eToro offers 15 cryptocurrencies that US traders are allowed to trade. This is an impressive number compared to what other services have to offer. Other platforms often offer around 5 options, so having 15 opens the door to more trading opportunities. Some of the popular cryptos traded include Bitcoin, Ethereum, Litecoin, Dash, Zcash, NEO, IOTA, and Tezos.
- Trading Costs – When conducting a cryptocurrency trade, some fees will be charged through spreads. These can increase or decrease depending on market performance. At eToro, there are round-turn charges, which means there is one spread for buying and selling. Most of the spreads you will find will range between 1.9% and 2.9%.
- Digital Wallet – One unique feature is the offering of a free digital wallet that can be used to store your cryptocurrencies. This is offered to Android and iOS users. There will be a 5% cost to convert your crypto into a fiat currency and the transaction limits range from $125 and $10,000.
- Widely Available – If you choose to engage in cryptocurrency trading, eToro is a great choice. It is currently available in 41 of the 50 United States. Users from all states can use a free demo account for virtual trading, but real money trades are limited to 41 states.
By the way, over the course of several years, the bitcoin cryptocurrency has grown from several hundred dollars to 60,000 thousand per unit, FT reported.