The very first thing to point out with eToro USA and US forex brokers, in general, is that they cannot offer services to any trader who is based outside the USA.

For this reason, you must be in the US to open an account with the US entity of eToro.

If you are not in the United States no matter if you are a US or non-US citizen, then you will have to look for another choice. Luckily, eToro is huge and offers services in many countries worldwide.

To learn more about the worldwide offering outside eToro USA, you should read our main eToro Review which is valid for any other country outside the United States.

Table of Content

eToro USA Review: General Overview

eToro USA, which is SEC regulated, is a good social-copy trading broker for US traders. The asset selection is limited to cryptocurrencies. EAs and scalping are prohibited so they are not perfect for day traders or crypto investors due to the limited choice and a high spread.

This means no futures or other derivatives for the moment. Also, although negative balance protection is not offered, this is not important since all assets are traded as real. What matters is that eToro holds traders’ funds into Segregated bank accounts. This makes it impossible to lose more than you deposit at the broker.

Problems and Advantages with eToro USA


Some of the main concerns you may have, particularly as a more experienced trader using eToro USA is that they do not have a great selection of assets available. This is less than 2,000 and while it may not seem a small number, it is less than some competitors.

This lack of assets causes the knock-on issue of having a limited number of assets and signal providers to copy trade from since they can’t trade forex and other assets.


Of course, the advantages of eToro USA far outweigh any drawbacks. As is common with eToro they also remain super accessible with a low minimum deposit, and even in the USA, they continue to dominate as the best social trading platform.

Furthermore, while the copy trading services may be limited somewhat by a lack of assets, they still prove to be excellent and well on the level of most competitors in the American market.

Visit eToro USA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

Can you use eToro in the USA?

American citizens (excluding a few states) can use eToro to trade real cryptocurrencies only.

The excluded states and territories are:

  • American Samoa
  • Guam
  • Hawaii
  • Minnesota
  • Nevada
  • New York
  • Northern Marianas
  • Puerto Rico,
  • Tennessee
  • U.S. Armed Forces – Americas
  • U.S. Armed Forces – Europe and US Virgin Islands

US Citizens and non-citizens outside the US cannot open an eToro USA account but can register with an alternative eToro subsidiary in their area.

The table below charts the exact availability of eToro for United States residents by location:

Area Is it Available?
United States of America Yes
United States of America Minor Outlying Islands Yes
Delaware No
Hawaii No
Nevada No
New Hampshire No
New York No
Tennessee No

eToro USA: Here’s who may face trading limitations

As mentioned, you may face some restrictions based on your location even within the US. To assess these we should remember that eToro in the US offers only cryptocurrencies.

Furthermore, even if you are a US citizen based outside the country, the US Subsidiary of eToro cannot offer you any services due to regulatory requirements. Again though, if this is the case, you should be sure to check our main eToro review for other options that may be available to you.

Is eToro legal in the USA? Is it Regulated in the US?

eToro is legally allowed to offer financial services in the USA. eToro USA LLC has been registered with the FinCEN and offered cryptocurrencies since 2018. On Aug 4th, 2020 they obtained SEC regulation (#8-70212) and opened an office in Hoboken.

etoro usa

eToro USA Crypto review: A valid crypto-exchange alternative?

Talking about crypto availability, on the positive side we can say that fractional crypt investment is possible. This means you can get started with as little as $10. On the other hand, there are also just a limited number of cryptos to choose from, and you will have to deal with higher spreads that pick up from 1%. If you want to know more about their spread-based business model, you can read our article on how does etoro make money for the lowdown.

On the upside, you will be able to take a look at fundamental analysis on many of the crypto assets too with many of these compiled by industry experts. On the other hand, there are higher spreads here as we mentioned. These start from 1% on BTC and every other cryptocurrency offered by eToro.

Here is a look at all of the cryptos made available from eToro to the US Crypto Traders:

Ticker Name Spreads
BTC Bitcoin 1%
ETH Etherum 1%
BHC Bitcoin Cash 1%
DASH Dash 1%
LTC Litecoin 1%
ETC Etderum Classic 1%
MIOTA Iota 1%
XLM Stellar 1%
EOS Eos 1%
NEO Neo 1%
ZEC ZCash 1%
BNB Binance Coin 1%
XTZ Tezos 1%
MKR Maker 1%
COMP Compound 1%
LINK Chainlink 1%
UNI Uniswap 1%
YFI 1%
DOGE Dogecoin 1%
AAVE Aave 1%
ALGO Algorand 1%
MANA Decentraland 1%
ENJ Enjin 1%
BAT Basic Attention Token 1%
MATIC Polygon 1%
SHIB Shiba 1%

*crypto spread fee as of Oct 2022

eToro USA Crypto Review Pros and Cons


  • Access to free fundamental analysis is provided


  • The spreads do start from a relatively high point
  • There are only a small number of cryptos available to choose from

Visit eToro USA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

eToro USA Social Trading Platform

One of the best points about eToro all around the world is their power when it comes to social trading. In this respect, they do an excellent job in offering their proprietary trading platform which is extremely user-friendly and available as web-based or on mobile app.

A range of copy trading features like the ability to copy and interact with other traders are built into the platform even at the demo account level although they are not always available in every US state. If these features are not available in your state, they will appear as greyed out boxes.

Tools are also available through the platform to help with the all-important task of risk management like the ability to set stop losses and take profit positions. However, both SL and TP are not guaranteed. Added to that, you will have access to a solid range of charting analysis tools and features.

etoro usa app

eToro USA Mobile Platform (iOS and Android)

On mobile, the eToro USA platform is just as powerful as you will find through the webtrader version. All of the same features, as well as the same layout, are made available. The only slight difference and limitation you may notice is the availability of charting tools. This is more limited in the mobile app.

The app itself is available on both iOS and Android devices and can be downloaded through your App Store or Play Store depending on your device.

eToro USA vs Other US Brokers

If you are still not sure if eToro is a perfect choice, here we show you a few different selections and details on each as a US trader:

US Brokers Minimum Deposit Forex Stocks Crypto Margin Trading
eToro USA $10 No No Yes No $50 Yes Yes Yes Yes
IG Markets USA $250 Yes Yes Yes Yes
Oanda $0 Yes No No Yes

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

eToro USA Security

As a trader with any broker, security is always a top priority. To that end, Here are some things to expect from how eToro USA works to keep you safe and secure:

Money and Customer Protection

First and foremost, all of your funds deposited will be held in segregated accounts. This means the broker has no direct access to use your funds for anything other than your trading. Although there is no negative balance protection offered, this is not really required since all the assets are traded as real with eToro USA. This means there is never an opportunity for your balance to be negative since there is also no leverage.

eToro USA is regulated by the SEC.

eToro USA Costs & Accounts

Let’s take a closer look at the different account types and any associated costs you can expect to encounter when trading at eToro USA. Some of these costs can be avoided if you achieve a high etoro club membership level.

Discover the eToro Club

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

eToro USA Account Types

There are two distinct account types available, the practice, and the real account. Here is a detailed look at both:

eToro USA Practice Account

A practice account, otherwise known as a demo account, is the perfect place for you to get started. The demo account with eToro is unlimited and all you need to get signed up is your email address, password, username, and phone number.

There is absolutely no obligation to open a real money account if you are trading with a demo account and the trading is totally without risk since you have access to $100,000 in virtual funds.

It’s completely free to sign up and you can check our eToro Demo Account review for more information.

eToro USA Real Account

Once you are ready to get started with real trading you have the one real account trading choice. It comes with a minimum deposit amount of $10 required. This will be enough to get you started in trading.

When opening a real account, the process is still an easy and fast one. You will though need to confirm your identity and address for security purposes and regulatory requirements. This should be a smooth process and you can read all about it in our eToro account verification guide.

eToro USA Minimum Deposit: Is it worth it?

A minimum deposit of $10 is in place at eToro if you fund through internet banking. This amount increases to $500 if funded through wire transfer. There is a limit of $10,000 per day that can be deposited but overall this is a very low minimum deposit amount and makes the broker accessible.

If you are getting started with an eToro demo account you will be pleased to note these are free to open and use as well as unlimited in duration. When considering that eToro is one of the most trusted names in the industry with excellent features and combining to offer a unique and good value approach to trading real cryptocurrencies as well as social-copy trading, then we can say it is certainly worth it.

eToro USA Accepted Payment Methods

At present, there are 2 deposit methods available if you are starting out at eToro. The first of these is an electronic transfer from your bank using online banking. It typically takes up to 3 business days to process.

Domestic wire transfers are also available for making your deposit and these tend to take 4-7 business days. You should note that if you make a deposit via online banking, you cannot withdraw again until at least 6 days after you have made your deposit.

From the broker side, there are no fees on deposits, though you should check with your own bank on any processing fees they may apply.

eToro USA Withdrawals

When it comes to withdrawals, in the US eToro does not charge fees and require a minimum withdrawal amount of $30 that you need to be aware of. Withdrawal methods are the same as those available for your deposit and typically take up to 5 business days to complete.

For more information and in-depth detail about making a withdrawal, you can visit the eToro USA website.

Visit eToro USA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

Account Base Currency

Only the US Dollar is available as an account base currency with eToro. What this means is that if you deposit in any currency other than USD, you will have to pay a small conversion fee. The same applies to making withdrawals.

Visit eToro USA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

eToro USA Fees

While eToro does a great job in remaining almost entirely fee-free for US Traders, there are still some to consider.

Inactivity fee

eToro does charge an inactivity fee. This is a monthly fee of $10 though it will only be charged if you are inactive for a period of 12-months or more. It will not be charged once you become active again.

eToro USA Trading Features

eToro operates an STP/NDD model. This means fast execution of your trades with no interference from the broker.

Also, since they deal only in real assets of crypto at the moment, no leverage is offered when trading with the US subsidiary of eToro.

etoro us platform

eToro USA Education and Support

Finally, an area that can be of great importance when choosing a broker to trade with, and have a big impact on your trading experience, is education and customer support. Here is how eToro US looks on that front:


Both English and Spanish languages are fully supported by the trading broker. Other languages are also available which you can check out directly with the broker.


eToro has a number of features available to help you get the best possible insight when it comes to the available markets and conducting research. As mentioned earlier, the platform does provide for fundamental analysis and market research from a number of analysts and industry experts that you can access free of charge. This is regularly updated on a daily basis.

You will also find a very helpful eToro blog that is often updated with insightful articles and guides as well as a detailed economic calendar that keeps you in the loop on the most important economic events daily.

Customer Support

Top-level customer support is available from eToro in several ways. You can contact the support team through email or web-based live chat. You are sure to receive a fast and professional reply from a knowledgeable support agent particularly during the opening hours of the market.

eToro USA FAQs

Is eToro prohibited in the USA?

Absolutely not. eToro has operated in the US since 2018, and further improved its regulatory situation in 2020 obtaining SEC certification which is the highest form of regulation possible for a broker in the United States. Add to that, they are and always have been fully compliant with all regulations.

Is eToro legal in Georgia USA?

If you are based in the US State of Georgia, then you can use eToro. Georgia does not prohibit or restrict your use of eToro at all.

Why can’t I use eToro in the USA?

eToro is available to US traders, however some functionalities may be not offered within the US territory.



Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

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.

filippo ucchino

About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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