etoro is a well-established trading and investment platform that gained traction thanks to its social and copy trading features. Its popularity grew further after it introduced its ISA offering in 2023, a service that lets UK customers invest their ISA allowance tax-efficiently. While eToro offers a good-value solution for people who have already used up their PS20,000 ISA allowance, there are some hidden fees that make it less appealing than its competitors.

In addition to standard spreads, eToro charges currency conversion fees for deposits and withdrawals. These fees apply whenever the deposit or withdrawal amount is in a currency that is different from your trading account base currency (e.g. USD for EUR). Go to site

eToro is a licensed broker in the UK and has an A+ rating with the Financial Conduct Authority (FCA). As such, its clients can rest assured that their funds are secure. If you are a retail investor, your deposits are protected up to PS85,000 by the Financial Services Compensation Scheme (FSCS). Moreover, etoro has an additional layer of protection for its investors as it is a member of the London Clearing House, which is a part of the UK’s financial infrastructure.

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However, etoro does not offer SIPPs and is therefore not suitable for those looking to invest through a pension. Moreover, it does not offer any other types of ISA accounts or tax-efficient investments. Nevertheless, the platform does have a number of other benefits that make it attractive for many users.