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eToro in Ireland – All you need to know!

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Franklin Silva
Co-Founder & Fintech Analyst
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Pedro Braz
Co-Founder, Forbes 30 under 30
Fact checked by: Pedro BrazUpdated on Nov 5, 2024

eToro, the leading social trading platform, is available in Ireland! This online platform enables more than 30 million people to trade almost anything from commodities, currencies, ETFs, stocks, and indexes to cryptocurrencies. It offers low-commission stock and ETF trading, a slick and easy-to-use platform, and you can even follow and copy other investors!

On the downside, you may be charged currency conversion fees upon deposit and withdrawal. To invest in real stocks, you must make sure that you are buying the underlying asset. Otherwise, you will be investing in CFDs and not real stocks (check our article about the differences between CFDs and real stocks).

Want to know more? We have got you covered! Keep reading.

eToro Ireland highlights

👨‍⚖️ Legal in Ireland Yes
💰 Stocks fees From $1 per trade
💰 ETFs fees Free of charge (Some ETFs are not free)
💰 Cryptos and CFDs fees Low
💰 Inativicty fee $10 after 1 year of inactivity
💰 Withdrawal fee $5
💵 Minimum Deposit $/€100
📍 Products offered Stocks, ETFs, Cryptos and CFDs
🎮 Demo Account Yes
📜 Regulatory entities (based countries) FCA, CySEC, ASIC

How safe is eToro?

Most of the time, this is the first question that comes to everyone’s mind, and we entirely get that! As investors ourselves, this was our first concern as well!

eToro presents three layers of safety:

  • Your securities are held in a segregated account: eToro is an intermediary in the financial system. Each time you buy a non-leveraged position in a stock or ETF, you acquire a financial asset that belongs to you and it is deposited in a custodian bank. In other words, if something went wrong with eToro, you would be allowed to transfer your securities to another broker.
  • Investor Protection (Regulatory obligation): As an Irish investor, you open an account through the subsidiary “eToro (Europe) Ltd”, which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). As a result, it must maintain membership of the Cyprus Investor Compensation Fund (ICF), giving an investment protection coverage of up to €20,000 per client per account.
  • Private insurance: eToro has partnered with Lloyd’s of London to provide free insurance up to 1 million Euros. Every eToro investor is automatically granted this insurance as soon as they open an account.

If you need more details on security, check out our analysis of the safety of eToro.

What financial instruments/features will I find?

You can trade a wide variety of financial products:

  • Stocks: You will be able to trade stocks from 17 different stock exchanges, including Zurich, Amsterdam, Frankfurt, London, Madrid, Milan, New York and Nasdaq.
    Note: eToro does not allow you to buy stocks on Euronext Dublin.
  • ETFs: eToro also offers ETFs from providers like iShares, Vanguard, PIMCO, Invesco, Market Vectors, among other asset managers.
  • Commodities: You can easily invest in gold, silver, copper, platinum, palladium, and others.
  • Forex: You can gain exposure to the foreign exchange market through many currency pairings. The most commonly used ones are EUR/USD, AUD/USD, and GBP/JPY, though 40 other currency pairs are available.
  • CFDs: eToro allows you to leverage your returns in all the asset classes previously mentioned through CFDs. Be aware that if you do this, the likelihood of significant losses does increase.

Besides, you can enjoy the Copy Trading feature to simply copy other investors, thereby delegating your investment to someone you believe will deliver superior returns. Amazingly enough, you can copy the portfolios of up to 100 investors at the same time.

eToro's copy people feature

eToro’s fees

As with any other business, eToro needs to make money. Its primary source of revenue comes from the spreads – the difference between ask and bid prices.

From stock trading, eToro charges a commission fee of $1 per trade on stocks listed on exchanges in the UK, Europe and the US. Stocks listed on all other exchanges incur a commission fee of $2 per trade.

When trading cryptos or CFDs, you’ll be charged a spread every time you buy and sell. Spreads can be high for some products, so make sure you take a look at eToro’s fees page to make sure you know how much you’re paying.

Additionally, there are financing rates (interest income, for leveraged positions only) and conversion fees. Regarding non-trading fees, eToro charges a fee for inactivity ($10 per month if not logged in for 12 months) and another one when you withdraw funds from your account ($5).

How to open an account?

To open an account, you need to go to eToro’s website, click on “Join now”, and provide the required information, as shown in the following image:

Account opening and legal entity

In the first check box (underlined in red), confirm in which subsidiary you are registering.

After this step, you need to verify your identity and address. Your proof of identity could be your ID or your passport. Meanwhile, your proof of residency could be your driving licence, a copy of a bank statement or a utility bill.

We suggest you submit all the remaining documents as soon as you open an account to prevent delays when withdrawing your money! We have witnessed no issues in taking money out of the platform, but it may take a more extended period if your account is not fully updated or verified.

Once everything is correctly set up, you’ll be able to deposit money to start trading with your real account on the eToro platform:

eToro's dashboard

It is effortless to navigate through all the sidebars and the search function on the top. We are confident that you will find what you came looking for in less than a minute.

How to deposit and withdraw?

Before answering this question, let us remind you that you have the option to use a Demo Account before deciding whether to deposit funds or not.

Deposits: On your eToro dashboard, you will find “Deposit Funds”. When clicking on it, you will notice a pop-up window with five types of deposit options (Credit/Debit card, Skrill, Rapid Transfer, Neteller and Bank Transfer). The eToro minimum deposit in Ireland is $100.

Withdraws: You will also find a tab called “Withdraw Funds”. The method you used for depositing should be the same for withdrawing money from the platform. Keep in mind that the minimum withdrawal amount is $30, and there is a fixed withdrawal fee of $5 (per withdrawal).

How to trade stocks or any other security?

The process for buying or selling stocks is straightforward, and is similar to other asset classes (ETFs, cryptocurrencies or any security).

First, use the search bar to find the company you are looking for and then click on “Trade”, as shown in the image below:

How to place an order

Second, a pop-up will appear where you can buy (or short) the stock. In this case, you are buying the underlying asset, and not a CFD. If you want to leverage your investment, you will need to change the “X1 LEVERAGE” to “X2” or to any other level of exposure that eToro allows.

How to place an order

Customer support

Our judgement of any customer support comes from our own experiences. Given that, we have noticed an improvement in response times since the Covid-19 pandemic.

We have contacted customer support more than once, and the response time varies. The longest we had to wait for a response was about seven days, but in normal circumstances, it takes less than three days.

Final thoughts

All in all, eToro is a solid option for any Irish investor, whether you are a beginner, an intermediate, or even a professional.

The company is currently going through a period of growth to further boost its reputation and credibility, and to gain even more customers.

For a complete overview of how eToro operates globally, please read our eToro review!

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational pur poses only and should not be considered investment advice or invest ment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

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.

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About the author
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Franklin Silva
Co-Founder & Fintech Analyst

Franklin has three years of experience in Wealth Management as a Fund Research Analyst, has passed the CFA level II, and is the host of the "Edge Over Hedge" YouTube channel.

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