eToro Switzerland: Social Trading Platform

0% Commission! This is how the provider eToro recruits Swiss customers. Especially online and especially on YouTube, the platform and the low prices are advertised enormously. Where eToro really charges fees, how the experiences are and whether you can recommend the platform, we cover in the eToro experience report.

A comparison of the Best Swiss Online Brokers can be found under this link.

If you have any more questions on the topic, we look forward to an exchange in the comments!

eToro Switzerland Experience & Review

eToro Switzerland? eToro is multinational. With its headquarters in Israel and many branches worldwide, the platform for social trading and various asset classes (such as stocks, cryptocurrencies, CFDs, etc.) appeals especially to young people. The fees are supposedly low and the trading is designed to be particularly simple and easy. A few clicks and you have already bought your first shares. (Well, as long as everything works). In Switzerland, eToro has no location, but access and an account opening are possible.
How do such "cheap" brokers make any money at all? No order commission at eToro Switzerland and a maximum of €1 third-party fee at Trade Republic. But of course you still have to reckon with eToro fees. Where do they apply?

eToro fees test

eToro Fees:

PayouteToro charges 5USD for each withdrawal. Especially considering that young people are recruited to the platform, the 5USD is relatively high for their rather smaller amounts.
Spreads: In particular, eToro makes money via increased spreads (markup between buy and sell price).
Overnight fee: To hold your position overnight, a minimum fee will be charged.
currency exchange feeYou want to buy shares in USD or get Chinese securities? An exchange fee will be charged each time.

The eToro fees are not the cheapest, but they are not the highest either. However, what many users complain about with eToro are the following points:

Long payout times
Very bad / unavailable customer service
Arbitrary closures of trading positions! (There are some very unflattering reviews and eToro experiences on the net, for example on Trustpilot to read).

Especially the last point (closures of trading positions by eToro) is particularly annoying and at least from our point of view not acceptable. Anyone who takes a risk and invests should not also bear a risk of the broker. If the broker arbitrarily sells securities that you wanted to hold, this is enormously negative.

So what is recommended as an eToro alternative?

Swissquote: Yes, the fees at the Swiss online broker Swissquote are higher than the eToro fees. However, Swissquote is currently cooperating with Postfinance once again and is working on a smartphone trading app. You can find out everything about Swissquote in the Article and Review. Unlike eToro, Swissquote is not a social trading platform.

Selma Finance: Selma is not a Brokerbut a smart robo advisor. This means that Selma advises you digitally and always manages your assets to your liking. Taxes are also optimized, because you have a digital pillar 3a option with Selma receives.

2 financial tips for you

ETFs for the Swiss

True Wealth is probably the closest provider to the classic ETF savings plan: automatic investments in a customized ETF portfolio. The fees are low, the customizability is okay and the user-friendliness is high.

Managing finances smart

At Selma Finance your assets are always managed according to your personal situation. A free financial check-up is also available through us, more about this in the article.

Conclusion: eToro experience report

eToro certainly offers easy access to shares, ETF`s or CFD`s for example. However, the supposedly low fees are quickly revealed. Fees are normal, they are part of it. But when a broker offers absolutely insufficient customer service, it starts to get messy. If then still experiences of unwanted interventions of the broker in the own trades mix, becomes for our taste already unacceptable.

Perhaps we have a different view and prefer to spend a little more money on fees and feel well looked after and cared for. How do you see the topic of social trading and customer support in general? Does eToro offer a good solution for Swiss traders?

Leave us a comment there!

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5 responses

Manu says:

13. September 2021 at 9:38

I have had good experiences with eToro so far. I think the nice thing is that you can "follow" others and thus benefit from (supposedly) more experienced traders. Furthermore, the customer service is easy to reach (I have always received a call within 24 hours on weekdays when I have enquired), provided you are a club member (= equivalent of at least 5000 US dollars stake).

Reply
Peter says:

21. March 2021 at 21:48

I've only been with Etoro for a week because I bought bitcoin.
Is there an alternative where you can buy bitcoin.
With a German-speaking Brocker?

Reply
1. Eric says:
  
  22. March 2021 at 6:57
  
  Hello, Peter,
  there are countless possibilities. What is particularly important to you in the broker?
  
  Reply
Roman gaus says:

26. January 2021 at 9:49

Thank you for this assessment. Are there any interesting trading strategies on E-Toro that you can just "look at" and then implement independently on another broker such as Swissquote? Then you only have to read the interesting trading tips from E-Toro and can then rely on a broker you trust.

Reply
1. Eric says:
  
  26. January 2021 at 16:46
  
  Hello Roman 🙂
  Yes, of course that's up to you. There are certainly some ideas and approaches here. But let's leave aside how sensible/profitable social trading is in the long term. Groups such as "Wallstreetbets" on Reddit also play trading ideas off each other. Personally, I have already collected input on sites such as Gurufocus.com, because you can see exactly where Warren Buffet invests. In this case, however, you should bear in mind the time delay in reporting...
  
  Gathering inspiration never hurts - but in my opinion you should always build up your own thoughts and a personal investment case 🙂
  
  Reply

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