I previously wrote a bit about my use of Etoro to make a few percent here and there by trading with small gains. It has proven fruitful but is Etoro worth it? It depends, of course, on one's perspective.
Etoro offers $50 to sign up, deposit, and make a trade. https://etoro.tw./2MkgQIF
I think for most Crypto enthusiasts that's probably where the allure of Etoro screeches to a halt. Listed below are the low-lights of my Etoro experience.
-Users of Etoro hold positions on crypto trades but not actually the crypto.
-Withdrawals seem to be slow AT BEST. I have made multiple withdrawals with less that 20% of them occurring within a time-frame I would deem acceptable, efficient, or quick. Once again it is a matter of perspective.
-Closing trades on some occasions has lagged or appears to get stuck. The position closures do occur but the hangup in verification is a bit concerning if you're attempting to make a few percent during a wild fluctuation.
-The spreads that are charged, even though Etoro is supposedly fee free, are unpredictable and vary wildly. I haven't been able to make sense of them.
-Customer service. Hmm. After starting a ticket because I am not receiving my 2FA codes, I received an automated response that it would be up to seven days before I receive a response. Wow. No access for up to seven days for an issue that is undoubtedly on the Etoro end.
-If a trader has no activity for a year then there is a $10 monthly fee to keep the account.
The format may work for some. I have had success making trades, so I can't complain about that, but otherwise I'm not sold on Etoro when so many other options are available.
