Wikitoro author Nick Zelver Written by Nick Zelver
Wikitoro fact checker Wikitoro Team Fact checked by Wikitoro Team
Updated Mar, 2024

Getting Started

As a U.S. citizen and resident with a verified eToro account, I've had the unique opportunity to experience firsthand the nuances of trading on this platform, specifically tailored for U.S. clients. Launched in March 2018, this broker's phase 1 of services in the United States marked a significant shift in online trading, offering not just cryptocurrency trading but also access to a variety of other asset classes.

Through this guide that I prepared, I'll be sharing my personal journey and insights gained from using this platform, providing a detailed and practical perspective for fellow American traders.

Whether you're new to this brand or considering it as your trading platform, this guide is crafted to offer you a comprehensive, reliable, and up-to-date understanding of what eToro has in store for U.S.-based users.

eToro USA Details
πŸ‡ΊπŸ‡Έ Accepts US Tradersβœ”οΈ
πŸ’° Minimum Deposit$10
πŸ›οΈ Market TypesStocks, Crypto, ETFs
🏒 Company NameeToro USA LLC
πŸ“ Address221 River St 9th Floor, Hoboken, NJ 07030, USA
πŸ“ž Phone #1-888-271-8365
πŸ›οΈ RegulationFinancial Crimes Enforcement Network (FinCEN #31000204884179)

Open USA account!

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal, "Virtual currencies are highly volatile. Your capital is at risk."



License & Regulation in the USA

Your first question would probably be is eToro USA regulated? Yes, this brokerage firm legally operates in the US and its operator eToro USA LLC, is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB).

In addition, they also have a license with regulators from several states. So in which US States is eToro licensed? Based on my research, it has secured a license from around 40 states, including New York, Texas and Florida. For each state, their license could either be one of the following:

  • Money Transmitter/Money Transmission
  • Check Seller
  • Seller of Payment Instruments
  • Virtual Currency Business Activity


USA Office

eToro USA LLC has a physical office in the country. The complete address of their US headquarters is 221 River St., 9th Floor, Hoboken New Jersey 07030.


Can I Use eToro in the US?

Yes, but it's important to be aware that not every state and US territory supports this trading platfor. So, what states is eToro available in?

As of this writing, this broker allows its US clients to trade cryptocurrencies and participate in social trading. Currently, they are on phase 1 and real trading is allowed in around 50 states including the minor outlying islands. 

I was surprised to discover that are only less than 10 states and territorries where they are not available. Based on their Live States page, only residents of American Samoa, Guam, Hawaii, Nevada, New York, Puerto Rico and US Virgin Islands are the only ones who couldn't use the platform. If you live on any of these areas, you might still be able to open an account but only access the virtual portfolio (demo account) for the meantime.

Take note: Traders who are residing outside of the USA but are citizens of the US are not allowed to access their service and this is due to regulatory requirements.


Minimum Deposit: $10

The minimum initial deposit requirement for US residents is $10. This applies not only to the initial but succeeding deposits as well.

Did you know?

I learned that this is much lower as compared to the requirement for non-US clients, such as Israel where the lowest accepted first deposit is $10,000. Residents of other supported countries must make an initial funding of the standard $200 (some countries require an initial first deposit raging from $50 to $1,000).


Tradable Products

So what products can I trade on eToro USA? Right now, the platform provides access to stocks, cryptocurrencies, and ETFs. Other instrument classes such as currencies (forex), commodities, and indices are not accessible due to regulatory restrictions/

On the platform, there are over 80 tradable cryptocurrencies available, many of which are among the most popular or have the largest market capitalizations. However, it's important to note a significant caveat due to regulatory constraints: some cryptoassets are in view-only mode, meaning their "Buy" buttons are disabled. Despite this limitation, I'm still able to track the performance of these restricted cryptocurrencies by adding them to my watchlist and participating in user discussions on the platform.

To recall:

I distinctly remember receiving a notice that, due to regulatory compliance, U.S. traders, including myself, have been unable to open new positions in Cardano and Tron since December 26, 2021. Additionally, the platform no longer supports receiving staking rewards for these two cryptocurrencies. This experience has been a clear reminder of the regulatory complexities and restrictions that can affect cryptocurrency trading.


Getting Customer Support

Phone support is not available for eToro's clients in the US so the next options available for traders with an equity lower than $5,000 are email, opening a ticket, or using the live chat feature from the Customer Service page.

A dedicated account manager is assigned for clients who have a minimum equity of $5,000 or already members the eToro's Club. That means you need to reach at least the Silver tier to experience this. In addition, priority customer support is provided for Platinum Club members or accounts that have an equity size of $25,000 or higher.


Fees for US Clients in Detail

Spread: A Quick 101:

The spread is small fee that is added to the transaction based on the bid and the ask price difference. This fee may change depending on market conditions. While most brokers impose a spread for buying and selling, eToro only applies it when the asset has been placed with a Buy order and then it automatically adjusts for a Sell order.


Withdrawal Fees

One aspect of eToro that I particularly appreciate is their no-fee policy on withdrawals for U.S. clients, specifically those with accounts under eToro USA LLC. This policy stands out as a significant benefit, especially since I've learned from their website that non-U.S. clients are subject to a standard withdrawal fee of $5. However, it's important to remember that your bank might impose a fee for receiving transfers, so it's a good idea to check with them beforehand.

Additionally, I've found it advantageous that there are no fees associated with sending or receiving transactions on eToro. This makes the process of managing funds on the platform more cost-effective and straightforward.


eToro USA Stats

eToro's user growth has been noticeable particularly in the US with a significant increase in funded accounts at the end of 2021 as compared the end of 2020. It slightly went down for the end of 2022 as per their latest investor update.

eToro funded accounts per region compared (2020 vs 2021 vs 2022)
Europe & UK69%69%73%
Asia Pacific17%14%12%
Middle East & Africas5%4%4%

Analysis: Compared to the end of 2020 figures wherein 9% of eToro funds accounts are from the Americas, the end of 2021 report revealed that it has improved to 13%. The slight drop to 11% by the end of 2022 can be attributed to the global financial markets being down for that specific year. Take note that data for 2023 are not yet available since these figures are only released after the end of each year.


Registration Process for US Traders

To open an account, you simply need to visit their website and click on the "Join eToro" button. Alternatively, you can also do this on their mobile app, which you need to download and install on your phone.

Look: ;During the registration process, you will be required to read the Terms and Conditions, which you need to be in agreement with in order to open an account. Via this specific Terms and Conditions, you will be able to see the operating company and the regulation that applies to you and as a US resident, it should be "eToro USA LLC". You can also find this information by accessing your profile settings on the platform.

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.

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.

Wikitoro author Nick Zelver About Nick Zelver

Nick is the Senior Content Editor at with over 15 years in online marketing. A graduate of Toronto Metropolitan University, he has strategized for More Sales Inc. and led online sales at His journey through digital marketing, e-commerce, and account management has equipped him with a unique perspective. Every article he pens is infused with his real-world experiences, aiming to guide and inform readers.

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