eToro

eToro broker is one of the world's best-known social and multi-asset investment platforms, founded in 2007 in Tel Aviv, Israel. First and foremost, you should know that, according to Teagle's expert, this broker is not a usable option for Iranians living inside the country. In this overview, we have reviewed eToro's licenses, accounts, platform and risks based on Teagle's data.

What kind of broker is eToro?

eToro was founded by Yoni Assia, Ronen Assia and David Ring, and the company went public on Nasdaq in 2025 under the ticker ETOR. According to Teagle's data, the platform has more than 40 million registered users and about $17.5 billion in assets under management. eToro's most prominent feature is its focus on social trading and copy trading. Tradable assets include stocks, cryptocurrencies, ETFs, indices, commodities and currency pairs, and you can also buy real assets, meaning stocks, ETFs and some cryptocurrencies without leverage. Smart Portfolios and a free demo account are among its other features. We have written in detail about the history and workings of this service in the article eToro social trading: from history to a practical guide .

eToro broker licenses and credibility

eToro's licenses are one of its major strengths. Based on Teagle's latest review, it holds three active licenses:

• UK FCA (No. 583263);
• Cyprus CySEC (No. 07712717);
• Australia ASIC (No. 491139).

All three are considered top-tier financial regulators, and the company being publicly listed also brings more transparency. However, this same strict regulatory framework is the main reason the door is closed to Iranians. To understand the value of these licenses, read the guide broker regulation and its tiers .

Does eToro serve Iranians?

No. Teagle's expert's message to Iranians living inside the country is short and firm: forget this broker. Due to strict Israeli and US protocols, the risk of funds being frozen at eToro is very high for Iranian users, and no workaround is worth putting your capital at risk. Some users may complete the initial registration steps by changing their IP or using a VPN, but during verification eToro checks the passport, residential address and IP source, and if there is a mismatch, the account and balance can be frozen. See the list of brokers Iranians should avoid in the article brokers prohibited for Iranians .

eToro trading accounts

According to Teagle's table, eToro offers three account types, Standard, Professional and Retail, with nearly identical conditions:

• Minimum deposit: between $50 and $200 for Standard and Professional; no minimum is listed for Retail.
• Costs: commission-free, with floating spreads from 1 pip.
• Leverage and risk: maximum leverage of 1:30 and a 50% stop-out.
• Other conditions: no requotes, with an Islamic account available.

The 1:30 leverage is in line with the caps set by top-tier regulators. Teagle's expert considers this broker's spreads expensive for short-term trading; to gauge the real cost, read the article spread in forex trading .

eToro platform and services

eToro does not offer MetaTrader, and trading takes place only on its proprietary platform, in mobile and desktop versions. Its user interface is very simple and suitable for beginners, but according to Teagle's expert, its analytical tools are not sufficient for the depth of analysis an active trader needs. Trades are executed via Market Execution, and slippage can occur during sharp volatility. This broker's services include copy trading and social trading, bonuses, cashback, education, referral rewards, an economic calendar, calculators, a glossary and the AI assistant Tori. If the difference between the platform's two main concepts isn't clear to you, see the difference between social trading and copy trading .

Deposits and withdrawals at eToro

Teagle's payment table lists e-wallets and Visa and Mastercard cards; deposits are free and instant, and each withdrawal carries a $5 fee. The table lists withdrawal time as "instant", but according to the FAQ answers, eToro reviews requests manually and withdrawals usually take 2 to 5 business days; processing also happens only on business days. Some reports also point to withdrawal difficulties and problems with automated identity verification.

eToro's rating and risk on Teagle

eToro's final rating on Teagle is 3.26 out of 5, derived from the average of three sources: Trustpilot 4.2, WikiFX 3.89 and Forex Peace Army 1.69. No ratings from Teagle users have been recorded yet. The Teagle Eye risk index for this broker is 23 out of 100, in the "low to medium risk" category; three reputable licenses and 19 years of history have raised its safety score. Note that this index does not measure the risk of account freezing for Iranian users. Follow the standing of brokers with reputable licenses in the low-risk broker rankings .

Pros and cons of eToro broker

• Pro: active FCA, CySEC and ASIC licenses and the company's shares listed on Nasdaq
• Pro: ability to buy real assets without leverage
• Pro: leading copy trading and social trading and a simple user interface
• Pro: a variety of markets, from forex to stocks, crypto and ETFs
• Con: very high risk of funds being frozen for Iranians
• Con: relatively high spreads and a $5 fee on every withdrawal
• Con: no MetaTrader and limited analytical tools for active traders

Who is eToro suitable for?

In the view of Teagle's expert, eToro is not a primary tool for analysis and day trading, but for investors living outside Iran it can complement a portfolio; for example, allocating 10 to 20 percent of capital to Smart Portfolios or copying a few traders with fundamental strategies. It is not recommended at all for Iranians living inside the country. If you are looking for another broker with a reputable license, see the eToro vs AvaTrade comparison .

Conclusion

eToro ranks among the industry's top in terms of licensing, transparency and social trading, but for users inside Iran the door is closed, and trying to get around it exposes your capital to being frozen. If you are outside Iran, start with a small amount, make a test withdrawal and follow the latest warnings on the investment risk warning page .