LIVEBITCOIN/EUR53,283-2.9%ETHEREUM/EUR1,387-8.7%SOLANA/EUR55.72-5.7%RIPPLE/EUR0.9589-4.5%BINANCECOIN/EUR500.60-3.7%BTC.D55.6%FEAR/GREED12 Extreme Fear
Daily briefing
Norriwire Briefing
5 essential crypto and fintech stories for the Baltics and Nordics. Every morning at 7:00. No ads.
Free. Unsubscribe anytime. We never sell your email to third parties.
eToro
eToro (Europe) Ltd (ES); eToro Group Ltd (mātes, NASDAQ: ETOR) · CY · 8 countries served
MiCA-licensed · CySEC (Kipra)★ 4.0 / 5
eToro is an Israeli multi-asset broker with 38M+ clients. On 2025-02-19 received CySEC MiCA CASP licence, on 2025-05-14 listed on NASDAQ (ticker ETOR, $52/share, ~$4.2-5.6B valuation). 80+ cryptocurrencies, 5,000+ stocks, CopyTrader feature. Available across all 30 EEA countries.
✓CopyTrader is genuinely unique - automated following of top traders
✓38M+ clients globally, 19 years in business
✓Multi-asset in one account - 80+ crypto, 5,000+ stocks, ETFs, CFDs
✓EUR/GBP withdrawals free
✓Available in all 7 Norriwire target markets + Norway (MiCA passport)
Cons
✗1% spread on spot crypto buy + 0.6-1% on sell (5-10x higher than Bitvavo)
✗2% extra fee for transferring crypto to eToro Money wallet
✗Currency conversion fee 0.50-1.50% (USD account)
✗Inactivity fee $10/month after 12 months of inactivity
✗CFD and spot mixed together - easy to confuse product types
✗No DeFi, limited staking
✗No LV/LT/EE UI localisation (English only)
Full review
eToro - Israeli multi-asset giant with NASDAQ listing and MiCA CASP licence
eToro (legally eToro (Europe) Ltd in Cyprus, parent eToro Group Ltd in Tel Aviv, founded 2007 by Yoni Assia, Ronen Assia and David Ring) is one of the world's largest retail multi-asset brokers. More than 38 million clients across 100+ countries use eToro services. The platform offers stocks, ETFs, cryptocurrencies, currencies and commodities in a single account, plus the famous CopyTrader feature for automatically copying other users' trades.
2025 brought two historic milestones for eToro: on 19 February the company received the first CySEC MiCA CASP licence for the EEA market, and on 14 May it listed on NASDAQ under the ticker ETOR at $52 per share, raising approximately $620 million.
Quick facts
Item
Assessment
Legal name
eToro (Europe) Ltd (EU clients); eToro Group Ltd (parent)
Headquarters
Tel Aviv (Israel), EU regional office in Limassol
EU regulator
CySEC (Cyprus), MiCA CASP licence since 2025-02-19
Public company
Yes, NASDAQ: ETOR (IPO 2025-05-14, $52/share)
Client count
38M+ globally
Crypto coins
80+ spot cryptocurrencies
Stocks
5,000+ stocks and ETFs (fractional buys available)
CopyTrader
Yes, unique automated copy-trading feature
Spot crypto fee
1% spread on buy, 0.6-1% on sell
Mobile app
iOS and Android, highly rated
Availability
All 27 EU states + Norway, Iceland, Liechtenstein (MiCA passport)
How eToro made it to NASDAQ
Three Israeli entrepreneurs - brothers Yoni and Ronen Assia together with David Ring - founded the social trading platform in Tel Aviv in 2007, growing it into one of Europe's most visible retail brokers. The original product was forex trading with visual charts, then stocks, ETFs, cryptocurrencies and the CopyTrader function were added (2010-2011).
eToro · NorriWire
Key milestones:
2007 - founded in Tel Aviv
2010 - OpenBook (social trading) and first version of CopyTrader
2013 - first Bitcoin trading contracts
2018 - eToro Money UK e-money licence from FCA
2021-09-14 - eToro Money Malta Ltd MFSA EMI licence
2024 - 7% global headcount layoff (~150 people, per Financemagnates)
2025-02-19 - CySEC MiCA CASP licence (first for a large multi-asset broker)
2025-05-13 - IPO pricing at $52/share (above initial $46-50 range)
2025-05-14 - NASDAQ debut ticker ETOR, opening price $69.69 (+34%), company valuation around $4.2-5.6 billion USD
2025-06-10 - all-time high stock price $79.96
2025-06-24 - eToro Visa Debit Card launch in Europe (initially Diamond Club users only)
2026-02-05 - all-time low $24.74 following the broader crypto market drop
Pricing and hidden fees
eToro advertises itself as a "zero commission" broker, but in reality most costs sit in spreads and side fees.
Service
Fee
Spot crypto buy
1% spread (Bronze/Silver/Gold tier)
Spot crypto sell
0.6-1% spread
Crypto transfer to eToro Money wallet
2% additional fee
Stock trading (EU/US)
0% commission (spread may vary)
Currency conversion
0.50-1.50% (USD account only)
USD withdrawal
$5 per transaction
EUR/GBP withdrawal
Free
Inactivity fee
$10/month (after 12 months without login)
Minimum deposit
$50 (Latvia), $100 for most EU countries
Practical example: buying €1,000 worth of Bitcoin and selling it back at €1,000 leaves around €16-20 with eToro (1% buy spread + 0.6-1% sell spread). That is 5-10 times more than Bitvavo (0.15-0.25% maker/taker), but cheaper than a typical CFD broker.
Platinum, Platinum+ and Diamond Club users (typically $25,000-$250,000+ realised equity) get reduced spread rates.
MiCA and regulation
eToro (Europe) Ltd has been a CySEC-licensed investment services provider since 2010. On 2025-02-19 CySEC granted eToro the first MiCA CASP (Crypto-Asset Service Provider) licence for a large multi-asset broker, allowing crypto services across all 30 EEA countries (27 EU + Norway, Iceland, Liechtenstein).
In Latvijas Banka's supervisory register, eToro (Europe) Ltd and eToro Money Malta Ltd are recorded as EEA cross-border service providers with the right to provide services into Latvia. Unlike many other exchanges that operated under transitional national registrations, eToro received a full MiCA CASP licence very early - within the first two months after the regulation came into full force.
CFD and margin trading are still subject to ESMA rules - retail clients have a maximum leverage of 2:1 for cryptocurrencies, 5:1 for stocks, 30:1 for major forex pairs.
As a NASDAQ-listed company, eToro Group Ltd is also subject to SEC reporting, adding to financial transparency.
Five real risks
Even with a full MiCA licence and a NASDAQ listing, eToro is not a risk-free choice. Main warnings:
1. Spot and CFD blending. eToro's crypto offering includes both real cryptocurrencies (spot) and CFDs with leverage. The user interface does not always make the distinction obvious, and CFD positions can be force-closed on a large market move. It is easy for newer users to confuse the two product types.
2. 2% fee for crypto transfer to eToro Money wallet. If you want to withdraw your Bitcoin from eToro to your own private wallet, you pay a 2% additional fee on top of the spread. Most other MiCA exchanges (Bitvavo, Bitstamp, Coinmotion) charge 0 EUR or a very small flat fee.
3. Inactivity fee. A $10 monthly fee applies after 12 months without login. This is standard broker practice, with the obvious mitigation - log in at least once a year.
4. Dependence on the Tel Aviv parent. Geopolitical risks in the Middle East affect eToro Group Ltd's reputation and occasionally operations (for example, the 2023-2024 situation affected staff and investors). EU client funds sit with Cyprus and Malta entities, but parent-level risks still flow through to market perception.
5. Many "stock" positions are CFDs for EU clients. Many users do not know that even a "0% commission stock purchase" on eToro is in most cases a CFD position rather than a real share in your own name. Real stock ownership is available only in certain jurisdictions and for certain client segments.
Who eToro fits and who it does not
Fits:
Beginners who want a multi-asset platform - stocks, crypto, ETFs and currencies in one account, simple UX, visual charts
Social trading enthusiasts - CopyTrader is genuinely unique, no other large platform offers it at this scale
Passive investors - Smart Portfolios is a managed product line with built-in diversification
Latvian/Lithuanian/Estonian users who want a NASDAQ-listed broker - financial transparency through SEC filings
Does not fit:
Pure crypto active traders - 1-2% round-trip spread is 5-10 times higher than at specialist exchanges (Bitvavo, Bitstamp, Kraken)
DeFi or staking enthusiasts - eToro does not offer DeFi protocols, staking is limited
Users who want to withdraw crypto to a private wallet - 2% extra fee plus restrictions
Users wanting LV/LT/EE UI localisation - eToro is English only (partial German, French)
Professional CFD traders - retail leverage restrictions (ESMA rules)
Alternatives in the Norriwire region
XTB - Polish multi-asset broker with LV/LT/EE localisation, similar portfolio
Trade Republic - German neobank-style broker, BaFin licensed
Kraken - US giant with an Irish EU entity, MiCA in progress
Coinbase - US NASDAQ-listed competitor, MiCA CASP in Ireland
Verdict
eToro is not a scam - it is a 19-year-old (since 2007) NASDAQ-listed multi-asset platform with the first CySEC MiCA CASP licence, issued very early after the regulation came into force. The company sits among the world's six largest retail brokers, with 38M+ clients.
In the Norriwire region eToro fits well for a beginner with multi-asset interest and social trading curiosity, since CopyTrader truly cannot be found on any other large platform. However, for purely crypto-focused users, the 1-2% round-trip spread is 5-10 times higher than at specialist MiCA exchanges - in those cases Bitvavo or Bitstamp are better choices.
On pricing eToro sits in the middle tier - more expensive than pure spot exchanges, cheaper than typical CFD platforms. Free EUR/GBP withdrawals are a nice plus. The main value that justifies the cost is CopyTrader, Smart Portfolios and the transparency of a public company.
Remember: eToro will never ask for your bank details by phone or email. If someone writes from "eToro" about an urgent payment or password change - it is a scammer.
