eToro Philippines: How Good Is It For Beginners? [$50 Bonus]

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eToro now offers Filipino residents the opportunity to trade US stocks and cryptocurrencies such as BTC, XRP, ETH, EOS, and more.

Registering for eToro Philippines is as easy as creating an account. You’ll get a $50 bonus after you signed up. It is as easy as that. Since it’s so popular, it’s natural that people may be curious about what eToro has to offer.

In this post, I’ll discuss why you have to give this platform a try and the steps to put free money in your pocket.

🎁Open a free account with eToro today and take advantage of a $50 bonus and ‘zero fee’ trading. Try a FREE $100K Demo Account. Click here to access.

What Is eToro?

eToro is a forex-focused social trading network founded in 2007 in Tel Aviv by brothers Yoni Assia, Ronen Assia, and David Ring. What sets eToro apart is that it needs the smallest initial deposit.

Today, the company grows its asset offers, such as cryptocurrency, and has 20 million registered users worldwide across 100 countries. They are headquartered in Limassol, Cyprus – 4 Profiti Ilia Street Kanika International Business Center.

eToro has received various awards over the years and is regarded as innovative and technology-driven. The ‘Copy Trader’ and ‘Copy Portfolios’ features set them apart from other trading platforms.

eToro Pros and Cons

Before we dive into my full step-by-step eToro Philippines review, I want to touch on the main pros and cons quickly.

For Filipinos looking to get started with DIY trading, eToro is a fast and simple way to get into it. You’ll be trading in under 15 minutes once you start the account opening process.

They have a zero fee on trading stocks and ETFs and a free virtual account to test everything before committing to trading.

The ‘Copy Trading’ and ‘Copy Portfolios’ offers great insight for beginners and really set eToro apart from the other brokers. 

ProsCons
  • Fast & fully digital account opening
  • Commission-free trading
  • Great for beginners
  • Free demo account to test the platform
  • One base currency only
  • No Philippines offices

How do I open an eToro account in the Philippines?

To get the $50 sign-up bonus, you must join eToro via a current member’s referral link.

This offer is for new eToro customers in select territories who have not registered with one of eToro’s websites or mobile apps in the past.

Don’t worry; it’s a straightforward process. Just follow these steps.

Use this $50 referral link to create your free account. It will head over to the homepage at eToro to get started.

etoro-homepage

Enter your username, email, and password on the next screen and click ‘Create Account. 

You must finish your registration and account verification process for the site within 30 days.

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Once done, you’ll get a confirmation email. 

etoro-welcome-email

To verify your account, enter your username and password from the first step, and hit ‘Sign in’:

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Next, we click ‘Complete Profile’:

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Not much to see here – click ‘Continue’ to move along:

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Add your name, gender, and birthdate and click the blue arrow:

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Add your address and passport details. 

 

Next, you’ll need to select your trading experience for each of the asset classes below and hit the blue arrow:

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Select your level of trading knowledge.

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Then select the type of instruments you are interested in trading:

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Now select the duration you plan to trade:

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Now consider your appetite to risk by selecting one of the forecasts:

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Next, select any options here and tap the blue arrow to move along:

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Now select your sources of income and your occupation:

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At this point, I’ve selected ‘Continue to Deposit’ to get up and to run to try out the account; the full verification can come later:

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eToro Minimum Deposit

Link your bank account, then deposit at least $50 into your account with eToro.

Within 7 days, you will get an additional $50 as an eToro sign-up bonus. Or you can send me a screenshot of your account with over $10 worth of gains, then send me your Paypal email address, and I’ll transfer the $50 over.

etoro-fund-account  

Add your mobile number for an extra security layer >  ‘Send SMS’ > ‘Verify.’

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Congrats! All done! If you are having a difficult time getting your account verified, please let me know. I can contact eToro directly for you and get your account verified faster!

You can hit ‘reply’ here or talk with me at [email protected] I will jump in to help you immediately.

🎁Open a free account with eToro today and take advantage of a $50 bonus and ‘zero fee’ trading. Try a FREE $100K Demo Account. Click here to access.

Quick Overview

Here’s a very quick overview of the main sections of eToro to familiarise yourself.

What is the Portfolio? - Help Center

Watchlist

You can build a list of individuals and markets that you want to copy or participate in. Make some lists, such as ‘promising stocks’ or ‘people to copy.’

Portfolio

See all of your open trades, including live tickers and values, and monitor your progress.

News Feed

This is similar to your Facebook News Feed, where you can see all the traders you track have been up to lately.

Trade Markets

The platform to learn about and sell the markets you have access to, including stocks (e.g., Apple), currencies (e.g., GBP/USD), commodities (e.g., gold), indices (e.g., UK100), and exchange-traded funds (ETFs).

Copy People

You can search through other traders who you may want to copy or follow. There are loads of useful filters to help narrow down to the results you want, such as markets and performance.

Now that you’re a part of the community and have explored the site a little, here’s a guide on how to invest in eToro.

Virtual Account

Pro-tip: Before you go spending money buying stocks and crypto, you can play with ‘Virtual Portfolio‘. It’s the same as the live account without the real money, and eToro credits $100K virtual money. 

etoro-virtual-account

You’ll get a confirmation message and can then switch your account over. Then you can start buying and selling stocks in a few clicks. 

etoro-virtual-portfolio

CopyTrading

Copy-trading allows you to copy existing eToro traders. You can view their portfolios, track record, and profitability—and then decide to ‘copy’ their trades in your account. 

Select “Copy People’ in the sidebar. Here you see a range of traders you can follow and refine by using the filter shown below.

I’ve selected UnliTrader from the Philippines as an example:

copytrader-philippines

From the profile page, I can then drill down into the details. I can see the performance on the right, and then click ‘stats’ for more detail. 

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Scrolling down, I can see more information about his portfolio, including the number of copies, the risk rating & volatility of the portfolio, and the asset types in the portfolio (e.g., stocks, ETFs).

etoro-assets

I can then drill down into exactly which assets he’s trading and how often. 

Once you’ve found a trader you want to follow, it’s as easy as selecting ‘Copy’ from the profile, and away you go.

🎁Open a free account with eToro today and take advantage of a $50 bonus and ‘zero fee’ trading. Try a FREE $100K Demo Account. Click here to access.

CopyPortfolios

In CopyPortfolios, you are copying a basket of assets, like a traditional portfolio. For example, with ‘ALTIA-Investment,’ including Amazon, Google, etc., all in one click. This saves the need to buy stocks individually, and you can subscribe to a CopyPortfolio instead.

etoro-copyportfolio

Learning Resources

eToro have a huge volume of educational materials and resources on their website.

News, analysis, podcasts and rich guides on topics such as Fintech—eToro is investing heavily in this space and it really shows. The content isn’t just thin marketing fluff either, the fintech guide for example is 18 chapters!

It’s refreshing to see such a decent range of supporting material – worth checking out.

Withdrawal Fees

eToro accepts several payment options, including PayPal, Mastercard, Visa, and Skrill. There is a $5 withdrawal charge and a three-day waiting period before the withdrawal can be accepted.

eToro Referral Bonus

After you have successfully created and validated your account, this is when you can enjoy your free money.

You can use the eToro referral bonus program to earn additional money for your account. You can receive a $50 eToro sign-up bonus when your friend signs up, and they will also get a free $50, meaning that you and anyone that you refer to eToro can financially benefit. They must be a new customer, meaning that they must not have previously signed up to eToro. 

To qualify, your referrals must make a first-time single deposit of at least $100 into their new eToro accounts and complete 1 or more trades of at least $100 in total within 30 days of registration.

This $50 referral bonus can take up to seven days to be deposited in your eToro account. You can earn up to 10 eToro referral bonuses for a total of $500.

Honest Review 

eToro Philippines has an effortless and straightforward customer onboarding, and the entire process is fast. They also have cool features like CopyTrading and CopyPortfolio to earn passive income.

There are cheaper options in trading platforms but you can’t argue eToro are at the leading edge of tech and user experience for trading. 

  • No nonsense account opening. 
  • The features are awesome.
  • Simple and easy-to-use interface. Removes a lot of the complicated noise from other trading platforms. 
  • Beginner-friendly. It’s a solid first step for beginners interested in day trading and experimenting with buying and selling stocks.

Start your eToro investing journey here. 

We believe in helping you reach a point in your life where your passive income is the one providing you your main source of revenue.

That is ProfitTakeoff’s financial dream, and we know that it is your dream financially as well.

You may also be interested in Coinbase and GoTrade for another opportunity to earn bonus money when you trade stocks and cryptocurrencies.

 

FAQs

What is eToro?

eToro is an online trading platform that allows you to buy and sell diverse assets within a single platform. Account opening takes around 10 minutes. 

Is eToro trustworthy?

eToro has over 20 million registered uses and operates in approximately 100 countries. They have offices around the world and are regulated in several jurisdictions such as the EU and UK.

Is EToro Legit?

This corporation is heavily monitored for enforcement. It is a respectable business in which you can place your interest, while any investment would always require you to take a gamble with your money.

When you trade with eToro, you’re just dealing with the American dollar. Any deposit made in a currency other than USD would be converted to USD, resulting in a minimum deposit requirement of $50 in the Philippines. 

Is eToro free?

eToro is commission-free when purchasing assets, with no additional dealer charges or management fees. However, currency conversion fees (the account is in USD) and a withdrawal fee of $5.

Can I make money on eToro?

Trading on any platform, not just eToro, is a risky business, and you need to be cautious with assets like Crypto and CFDs. 

What is the minimum deposit for eToro?

$50 is the minimum investment in eToro, which is roughly 2,000Php in the Philippines.

How do I deposit money into eToro?

To deposit money on eToro, click the ‘Deposit Funds’ button from any screen within your account and then complete your payment details. A credit card is the fastest route and will enable you to trade funds in minutes.

How do I withdraw money from eToro Philippines?

Withdrawing money from eToro is a simple process from within your account and takes a few days to process for the funds to arrive.

Is eToro good for beginners?

eToro is a good way for beginners to get started with trading. They are regulated, have a fast onboarding process, and offer various assets to trade.

Can eToro be hacked?

Anything on the internet can be. To date, however, there have been no high-profile hacking cases against eToro.

Do I pay tax on eToro?

You are responsible for ensuring you submit your taxes, not eToro. You can easily export your account statements to include in your tax return.

What is the best trading platform in the Philippines?

This is subjective, but eToro is the best platform for its easy onboarding, innovative offering (e.g., CopyTrading & Crypto), and simple use for beginners. 

Is forex trading legal in the Philippines?

Forex trading is legal and extremely popular in the Philippines, with several brokers available to trade through.

Is eToro available in the Philippines?

Yes, eToro is available for Filipino residents, and the account opening process is quick and easy. Open an account as per the process in this review to get started with a virtual account.

Why Doesn’t EToro Have Coupon Codes?

eToro is a well-known and supervised broker, which means they must follow all relevant rules. In this case, rules prohibit certain kinds of persuasion tactics from enticing people to sign up. To comply with these rules, eToro has switched to referral incentives as an option. Although you won’t get promotion codes as an excuse to visit this platform, you will earn referral incentives. 

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