eToro Review Philippines

eToro is a very popular trading platform available in the Philippines. This online platform lets 20 million people trade commodities, currencies, ETFs, stocks, indexes, and cryptocurrencies. It offers commission-free stock and ETF trading, and you can follow and copy other investors. The platform only operates in USD, so currency conversion fees are charged upon deposit and withdrawal (unless you deposit in USD or use a service such as revolut). Buying the underlying asset is required to invest in real stocks, not CFDs.

eToro's safety

Using eToro in the Philippines is legal. The Philippines' Securities and Exchange Commission lets eToro operate without restrictions.

eToro has three safety layers:

eToro holds your securities in a segregated account. When you buy a non-leveraged stock or ETF, you acquire an asset that is deposited in a custodian bank. If eToro fails, you can transfer your securities to another broker.

As a Filipino investor, you'll open an account through eToro AUS Capital Limited, which is licensed by ASIC to provide financial services under Australian Financial Services License 491139.

eToro partners with Lloyd's of London to offer free 1 million Euro insurance. Every eToro investor is covered when they open an account.

What financial instruments/features are available on eToro?

Stocks: Zurich, Amsterdam, Frankfurt, London, Madrid, Milan, New York, and Nasdaq. eToro doesn't allow PSE stock purchases.

eToro offers ETFs from iShares, Vanguard, PIMCO, Invesco, and Market Vectors.

Gold, silver, copper, platinum, palladium, and others are easily investable commodities.

Many currency pairings can give you forex exposure. 40 currency pairs are available, including EUR/USD, AUD/USD, and GBP/JPY.

eToro lets you leverage returns in all asset classes through CFDs. This increases the likelihood of large losses.

eToro Pricing

eToro must make money like any business. Spreads, the difference between ask and bid prices, are its main source of revenue.

As eToro offers commission-free real stock and ETF trading, you can save money.

Spreads are charged when buying and selling cryptos or CFDs. Some products have high spreads, so be sure to check eToro's fees page.

Also, leveraged positions have financing rates (interest income) and conversion fees. eToro charges inactivity fees ($10 per month if not logged in for 12 months) and withdrawal fees ($5).

eToro Account Opening Instructions

To open an account, visit eToro's website and click "Join now." In the first (red-underlined) check box, select your subsidiary.

Verify your identity and address after this. Your ID or passport is ID. Driving license, bank statement, or utility bill can serve as proof of residency.

Submit all remaining documents when you open an account to avoid withdrawal delays. We've had no problems withdrawing money from the platform, but it may take longer if your account isn't updated or verified.

Once everything is set up, you can start trading with your real eToro account.

Depositing and withdrawing?

Note: You can use a Demo Account before deciding to deposit funds to try before real funds.

Go to "Deposit Funds" on eToro's dashboard. When you click it, six deposit options pop up. eToro Philippines' minimum deposit is $50.

Withdrawals: Click "Withdraw Funds." The deposit and withdrawal methods should be the same. Minimum withdrawal is $30 with a $5 fee (per withdrawal).

Summary

eToro is a solid option for any Filipino investor, beginner, intermediate, or professional. The company is growing to boost its reputation and customer base.