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eToro Switzerland experience report and test on etoro review 2021

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?

eToro Switzerland: Social Trading Platform eTro Experience 1
  • 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. 

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  • 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

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

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

  2. 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?

    1. Hello, Peter,
      there are countless possibilities. What is particularly important to you in the broker?

  3. Thank you for this assessment. Are there then on E-Toro interesting trading strategies that you can then only "look" and then independently on another broker like Swissquote then implement? Then one has to read from E-Toro only the interesting trading tips and can rely on a broker of his trust then.

    1. Hello Roman 🙂
      yes of course that remains open to everyone. Here there are certainly some ideas and approaches. How sensible/profitable the topic of social trading is in the long term, we leave out here but simply times. Also groups such as "Wallstreetbets" on Reddit play trading ideas for each other. Personally, I have already collected input on sites like Gurufocus.com, because you can see exactly where Warren Buffet invests. In this case, however, one should take into account the time delay of the reporting...

      Gathering inspiration never hurts - thoughts and a personal investment case should always be built for yourself though, in my opinion 🙂

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