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If you’re looking for a well established broker that’s easy to use and offers thousands of assets, then eToro is definitely worth checking out. As one of the world’s leading social investment networks, eToro’s multi-asset investment platform aims to empower the global community of investors.

In this eToro review, we’ll help you decide if the platform is right for you by going through the key features, user experience, fees, and other aspects of the broker. Thanks to our eToro broker review, eToro platform review, and eToro crypto review, we can also guide you through how to start with eToro.

What is eToro South Africa?

etoro review

eToro is a multi-asset investment platform that centres on social collaboration, investor education, and community trading interactions. All of these plus more features are regulated as eToro operates under a Financial Conduct Authority (FCA) licence to better protect its clients through the right financial protocols. Therefore, besides our eToro review South Africa, we did an eToro broker review as well.

Perhaps eToro can owe its growth to its intuitive and simple copy trading features. As a frontrunner in copy trading, we found in our eToro review South Africa that this has attracted both new traders and experience traders alike.

etoro review south africa

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

As we go deeper into the eToro South Africa review, we explore the thousands of stocks, cryptocurrencies, commodities, forex, and indices that the platform has to offer. Coupled with zero commission trading, it was essential we conducted the eToro crypto review, eToro broker review, and eToro platform review.

Oftentimes, more options make it a little more difficult for investors and traders to make decisions. The analysis paralysis can really have a substantial effect, but eToro makes sure that the proper information and educational material is provided as we saw in our eToro review South Africa.

etoro south africa review

Today, eToro’s values of simplicity, innovation, quality, enjoyment, and openness make it stand out from other platforms. As we will highlight later on in this eToro South Africa review, its user-friendly platform really helps empower new traders to get into investing. Down the line, eToro aims to give them more options and expose them to more instruments from what we see in the eToro broker review.

Adding to all of this, all accounts come with a demo trading account that starts with $100,000 thousand in virtual equity for anyone to easily learn how to trade or test out new trading strategies. Demo trading is for all instruments including cryptocurrencies, so we also provided the whole eToro review South Africa and eToro crypto review to boot. 

eToro South Africa Pros & Cons

Pros

  • Zero commission trading
  • Trade CFDs on major, minor and exotic currency pairs with tight spreads
  • Clear and accessible research and analysis on markets and equities
  • Great social trading platform with live updates and news
  • Excellent copy trading features with Copy Trader and Copy Portfolio
  • Dozens of educational resources are available
  • Crypto trading available – provided by our eToro crypto review
  • Trade with a demo account starting with $100k virtual equity
  • Regulated by the FCA, and Cyprus Securities and Exchange Commission

Cons

  • Lacks advance technical indicators
  • EUR and USD currencies for equity only

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What Can You Invest in and Trade on eToro South Africa? 

In this section of our eToro review South Africa, we go through how to invest in the different assets available on the platform.

Invest in Forex

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With over $6 trillion in currencies being exchanged per day, the forex market is the largest exchange in the world. Through the eToro South Africa review, we found that eToro has some 49 forex pairs that users can trade. Major pairs like the EUR/USD and USD/JPY and minor pairs including GBP/CAD and USD/TRY are among the forex pairs on the eToro review South Africa.

All forex trading as seen on the eToro South Africa review is through contracts for difference (CFDs). This means that the position can be leveraged for greater returns. Leverage of up to 20:1 is available in forex trading for eToro accounts. The spread for forex trading starts at 1 pip for EUR/USD but usually increases with other pairs. 

Trade Stocks

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More or less 2,689 shares are available for trading on the eToro platform based on our eToro broker review. eToro is a broker with NASDAQ, NYSE, and even stock exchanges from Frankfurt, Paris, Milan, and other cities.

When it comes to stock trading, eToro has mainly two types of positions for its users as we’ve taken from the eToro review South Africa. First, those generally looking for long-term investments can purchase the actual stock itself and officially own it through eToro. The second option is if the user wants to use leverage (up to 5:1) where a stock CFD position is opened.

In this eToro South Africa review, we found that the option of either buying the underlying stock or using CFDs is a great flexible feature that the broker provides. 

Invest in Indices

etoro crypto review

While working on the eToro review South Africa, we found that eToro has 13 available indices to trade from, including SPX500, DJ30, and the China50. Only CFD trading is available for indices and with a maximum leverage of 10:1.

This means that if a user opens a 10x leverage position on the DJ30 with $10, the actual value of the position would be $100. A 5% movement in price equates to a 50% return on the $10 actual equity used.

If you wish to trade indices on eToro but are not yet completely familiar or confident with the strategies, you can look for copy traders that have indices in their portfolios and copy trade them. May traders seem to use this feature as we found out in our eToro South Africa review.

Trade Commodities CFDs

etoro trading review

Commodities trading is often used to hedge against the stock market or diversify one’s portfolio. According to our eToro trading review, there are 32 commodities available for trading on eToro. Commodities such as Copper, Aluminium, and Natural Gas are some of the commodities to trade.

Like index and forex trading, commodities trading on eToro involves CFDs as well based on our eToro review South Africa. Thankfully, all tradable commodities come with some technical analysis as well as educational resources. This is not exclusively for commodities but is also available for other instruments as well as we’ve seen on the eToro broker review.

Trade Cryptocurrencies

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In our eToro crypto review, we found 42 tradable cryptocurrencies on the eToro platform. Buy Bitcoin, Litecoin, and other major and minor cryptocurrencies just like trading any other instrument.

Currently, no CFD options are available when trading cryptocurrencies – so no leveraged trading is possible. However, when buying crypto on eToro, users will actually own the underlying crypto asset and can even transfer the crypto to a crypto wallet that eToro provides. For example, if you buy Ethereum on the eToro trading platform, you may opt to transfer the purchased ETH to your eToro Money crypto wallet.

We’ll mention later on our eToro crypto review of the crypto wallet features and the platform as well on the eToro broker review.

Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider.

eToro South Africa Fees & Commissions

Knowing a broker’s fees and commissions can better help you manage trading costs and strategies. In this eToro broker review, we have listed down the eToro’s key fees and commissions below: 

Trading Fee Charge
CFD trading 0% Commission; Overnight on leverage is not included in the spread
Forex trading 0% Commission; From 1 pip spreads; Overnight on leverage is not included in the spread
Crypto CFD leverage None
Share CFD leverage Up to 5:1
Indices CFD leverage Up to 20:1
Commodities CFD leverage Up to 10:1
Forex CFD leverage Up to 30:1

Here’s a quick breakdown of the non-trading fees:

Non-trading fees Charge
Overnight Fee Overnight fee charge of CFD traded stocks, indices, commodities, and forex is based on the total value of the position and amount of leverage used.
Deposit Fee 0%
Withdrawal Fee $5
Inactivity Fee None
Account Fee $10 per month after 1 year of inactivity

eToro South Africa User Experience

One of the first things to look for in a trading platform is a good user experience. With a user-friendly and well-designed platform, eToro has been configured to help new traders get the hang of investing. Let’s go through more of the overall experience of using the platform in our eToro South Africa review.

etoro broker review

All throughout the eToro homepage, exploration tabs and trending instruments are featured. With the prices, gains, and losses all being highlighted, eToro easily helps its users find potential investment opportunities from the different global markets.

Looking for a particular asset to trade? When on any part of the eToro platform, you can easily find the search function at the top of the page. Not only does the search function provide relevant information but it also gives access to community interactions as well. 

Anyone can make their account public, meaning any eToro users can view their trade positions and whether or not they have created any new ones. You can even set a post whenever opening a position which we have found in our eToro South Africa review. We found the overall experience to be in line with eToro’s vision of empowering the investing community through social channels just as we discussed in the eToro review South Africa.

eToro South Africa Features, Charting, and Analysis

eToro heavily marketed and spotlighted its Copy Trading features which lets users copy the portfolios of other investors who are offering their positions to be copied. These are usually professional traders or investors with financial backgrounds and there are incentives for allowing other users to copy your positions like earning a portion of your copiers’ earnings. 

In our eToro broker review, we found Copy Trading to be one of the key features that beginners would really benefit from. This is because newcomers without much knowledge on markets and trading can simply look to copy the positions of traders with years of experience.

etoro copy review

Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider.

Copy trading might look like a quick and easy way of making money, but users still need to be savvy about which copy traders to choose from as any losses that the copy trader makes will mean the same for the copier.

In terms of the charts, eToro has a range of tools and technical indicators that are familiar to many traders. Choose from a chart style that’s usually either the candlestick pattern or simple lines. Other indicators such as the Relative Strength Index (RSI), Moving Averages (MAs), and Fibonacci sequences were found in our eToro crypto review and eToro South Africa review. All of the more advanced tools that the platform has to offer are also available on eToro Pro charts.

eToro South Africa Account Types 

It only takes a few minutes to create an account on eToro as we’ll see later in this eToro review South Africa. Aside from this, eToro offers mainly three different account types. These accounts will have varying features which are shown in the eToro review South Africa table below: 

Features Standard Account  Islamic Account Professional Account
Leverage 30:1 maximum leverage 30:1 maximum leverage 400:1 maximum leverage
Minimum deposit $10 $1,000 Portfolio exceeding $500,000
Dedicated account manager Yes Yes Yes
Exclusive webinars Yes No  Yes

A virtual trading account is also provided for all types of accounts. From our eToro South Africa review, an account need not be verified to be able to try out demo trading.

Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider.

eToro South Africa Mobile App Review

Some markets like the crypto and forex markets operate 24/7. Even in normal stock trading hours, users might find themselves needing to look at their positions on the go. To make things more convenient, eToro has a great mobile trading app that is compatible with iOS and Android devices and has the same functionalities as on the web platform.

This is why besides the eToro broker review,  we also conducted an eToro platform review for its mobile aspects. Here, we found that the most useful feature for the mobile app is push notifications on prices and trends. When your positions have reached their respective stop loss or take profit levels, you’ll be better able to keep track of them as you’ll get notified if you have notifications enabled on the device. 

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As we’ve learned from the eToro crypto review, speculative assets can be extremely volatile in many conditions. This means that prices can fluctuate and spike quickly. By using the push notifications that we mentioned in this eToro South Africa review, you can easily change and make positions that will benefit you when market conditions are right.

It might be difficult for traders who are used to trading on their computers to make new positions and view other things on the mobile app of eToro. But as we found in the eToro platform review, the mobile app is very user-friendly and even complements the overall great user experience of eToro.

Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider.

eToro South Africa Deposit and Withdrawal Methods

The minimum deposit for standard accounts in eToro is $50 for South Africa residents. Luckily, deposits via credit/debit cards and e-wallets are processed almost immediately, while wire transfers can take a couple of business days.

Here are the supported payment methods we found in this eToro withdrawal review:

  • Bank Card (Credit/Debit)
  • MasterCard
  • Visa
  • Bank Transfer
  • Wire Transfer
  • PayPal
  • Local Bank Transfer (selected countries)

One fee to take note of when using eToro is the $5 flat fee that is required whenever a withdrawal request is made. This goes for all eToro users unless you have a platinum-tier account or above as they are exempt from this rule.

eToro wants its most dedicated and loyal users to feel appreciated. They do this by enabling them to use the platform better and more efficiently – thus offering such rewards and benefits. The more you use eToro and the more you earn on the platform, the higher club tier you can achieve over time. This is what we found on our eToro broker review.

Make sure also to input the proper information when making your withdrawal as you would not want to have your eToro withdrawal under review. When looking to start online trading with Etoro, this eToro South Africa review is the thing you want to look into first.

eToro South Africa Contact and Customer Service

This eToro review South Africa found out the eToro customer support operates 24 hours a day, 5 days a week. This is currently the industry standard – although many crypto exchanges offer 24/7 customer service owing to the 24/7 operating schedule of the crypto markets.

As we mentioned in the last section of this eToro review South Africa, higher-tiered accounts get certain benefits because of their dedication and use of the platform. Higher-tiered accounts have access to their own personal account manager with whom they can schedule calls, confirmed in our eToro South Africa review.

Issues that can be resolved easily by the user itself with the right information can be found in the FAQs page on the platform. This help centre of sorts provides a lot of answers and information. However, users can open a ticket about an issue that cannot be easily resolved and send it to the eToro Help Centre where it will be addressed during operating hours. 

Is eToro South Africa Broker Safe?

Let’s now move on to the eToro broker review, and find out more about the platform’s safety. As mentioned previously, eToro is regulated by the Financial Conduct Authority (FCA) and  also the Cyprus Securities and Exchange Commission (CySEC.) These regulatory bodies ensure that the brokers and other financial companies that want to be licensed have the right trading protocols to keep retail traders’ accounts protected.

From what we know from the eToro broker review, eToro’s clients’ funds are held in segregated bank accounts. Furthermore, eToro users are protected with what’s called negative balance protection. This means that the worth of any eToro account cannot go below zero.

On certain occasions, market trends and volatile conditions could cause account equity to become negative. eToro’s policy on negative balance protection will make sure that certain positions are margin called as to not have any negative equity in your account. 

How to Start Trading with eToro South Africa

Now that you’ve gotten some of the important features and talking points in this eToro broker review, it’s time to learn how to start trading on the platform. In our eToro review South Africa, we have a step-by-step guide on how to start your trading journey here.

Step 1: Open a Trading Account

etoro platform review

75.26% of retail investor accounts lose money when trading CFDs with this provider.

First, head over to the eToro website and press the Join Now button at the upper as you’ll find on the upper-right hand corner of the page. Simply fill in your desired username and password to start the registration. Alternatively, you may use an existing Facebook or Google account to connect.

Step 2: Verify Your Identity

As an FCA-regulated platform that requires users to be validated, eToro requires its clients to verify their identities. For this, a clear copy of a valid ID such as a passport or driver’s licence must be uploaded. Then, you’ll also need to upload a proof of address such as a utility bill or bank statement.

Step 3: Deposit Funds

etoro withdrawal review

Now that your account is verified, you can proceed to funding it. According to our eToro review South Africa, residents of South Africa need $10 at the start, but of course, you may opt to deposit more. Click the Deposit Funds button at the bottom left corner of the site and choose from payment methods like bank card, wire transfer, bank transfer, and others.

Step 4: Start Trading with eToro South Africa

etoro review

If you followed the right steps in this guide from the eToro South Africa review and our eToro broker review, your account will be fully funded, and you can now start live trading!

Simply head to the search bar and type in the asset that you want to trade. Click the Trade button and select the amount you wish to trade along with the leverage that you want to use. Stop loss and take profit levels are filled in automatically but they can be edited as well. Once you’re happy with the trade parameters, click on Open Trade and you’ve executed your first trade!

75.26% of retail investor accounts lose money when trading CFDs with this provider.

eToro South Africa Review – Conclusion

Our eToro South Africa review has provided all the important things you need to know when starting online trading including an eToro platform review, eToro broker review, and eToro crypto review. Now, whether you’re looking to just start online trading or have been a trader yourself who wants to try copy trading, why not consider eToro as a trading platform.

From its easy-to-use platform to its excellent copy trading features, the platform is simply great for the majority of users. Throughout this eToro South Africa review, we have mentioned the benefits and usability of the site.

Looking to start trading with eToro? Start your eToro investing journey with 0% commission and across multiple high-level markets! Simply follow the link below and open a live trading account with eToro South Africa today!

etoro review south africa

75.26% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

What is eToro South Africa?

eToro is a well-regulated all-in-one trading platform that offers users to invest in stocks, crypto, forex, and many other financial instruments across different devices and platforms.

What is Forex trading?

Forex trading, also referred to as foreign exchange trading, occurs when you convert one fiat currency into another. Forex is the largest traded market internationally, with businesses, investors, and major banks executing more than $6 trillion worth of transactions every day.

What is cryptocurrencies trading?

Cryptocurrencies are digital assets backed by the blockchain and are used as a transfer and store of value. Crypto trading is the buying or selling of these virtual currencies in real-time.

Can I trade with leverage in eToro South Africa broker?

Yes, you can trade with leverage in the eToro South Africa broker. When performing a leveraged trade, you will need to select how much leverage you’d want to take (usually 2x and 5x) before proceeding with your trade.

Can I open an account with eToro in South Africa?

Yes, you can! Simply head to the eToro website and create an account from their page.

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About Jose Rafael Aquino
About Jose Rafael Aquino

Jose Rafael Aquino is a Filipino writer and entrepreneur that specializes in finance, technology, cryptocurrency, and sports. Versed in the startup tech space, he has written for websites such as The GUIDON, StockApps, and BuyShares.

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