eToro charges a single, simple and transparent commission of 1% for buying or selling cryptocurrency.
etorodoesn't provide tax advice, but it does generate a tax report for you every UK tax year (April 6 to 5) based on your trading activity, which you can then use to fill out your tax returns. While eToro is primarily known as a broker for CFDs, currencies and cryptocurrencies, you can also trade real stocks and ETFs. However, investors find a better option to trade by speculating on any commodity or stock by trading contracts for difference (CFDs), which is one of the most used trading tools on eToro.
After listening to user feedback, eToro has reduced its spreads by at least 10 currency pairs on eToro. (UK or European Stocks), eToro will convert currencies to the current market exchange rate at no additional cost to you. These spreads recently introduced on eToro make Forex spreads more flexible by making them follow market conditions so that investors take more advantage of the volatility of the stock market. The eToro spread contains the amount they collect from investors, which is based on the difference between the BUY price and the SELL price.
The service is currently only available for cryptocurrencies, but eToro states that it plans to add copy trading for stocks and ETFs. eToro will charge a currency conversion fee for deposits and withdrawals in currencies other than your account currency. eToro's standard customer support is limited and only offers email contact or a support ticket option. As a singular broker on its own platform, eToro usually has a slightly higher spread compared to others in the industry.
To keep up to date with eToro's weekend spread, investors are advised to always follow the fees page and any eToro announcement on social media about eToro's spreads. What happens in these cases is that eToro automatically converts the amount in USD to GBP (applying a small profit margin in the process). Users can transfer cryptocurrency from the eToro platform to their own digital wallet, but eToro points out that coin transfers are unidirectional, meaning that the transferred coins cannot be transferred back to the eToro trading platform.