Are you wondering if eToro is just a legit company or only yet another Ponzi scheme? If so, this review in regards to the eToro platform will assist you to clean most your doubts and questions. More over, we’ve covered the critical facets. Thus, let’s not waste any moment and review this particular platform.
What Is eToro?
So, e-Toro is just one of the main online societal trading platforms. What’s more, it features a certain focus on providing services such as Forex, CFD trading, Brexit trading, in addition to other financial providers. Now this multi-asset brokerage company is among the very accepted platforms, and traders appreciate it. But some investors wonder whether the chances this provider supplies are actual or whether this really is only yet another Ponzi strategy.
Founded by: Yoni Assia, Ronen Assia, David Ring
Headquarters: London, Limassol, Tel Aviv-Yafo
Founded: 2006, Tel Aviv-Yafo, Israel
Number of workers: 750
Parent company: eToro Group Limited
Is eToro A Scam?
When it comes to the Forex industry, there isn’t any doubt there are lots of scam projects within this business. But, eToro isn’t some of them. More over, in service of its own validity, we’ve got a lot of things to talk . Below, we’ve mentioned crucial information about the transparency and validity of the multi-asset brokerage provider.
The organization was on the marketplace after all 2006
Since eToro was set in 2006, nearly all investors could concur that fact signifies that the organization was at the forex marketplace for so most decades. On the flip side, most Ponzi schemes fall after the third or second calendar year. To put it differently, e-Toro was demonstrating its validity after all 2006.
eToro gets the necessary Regulation and Licenses
The provider offers lots of licenses, so demonstrating it for described as a regulated business or company. By way of instance, eToro ‘s brokering services are given by eToro (Europe) Ltd.. That, alternatively, is a documented Cypriot Investment Firm (CIF).
- eToro (Europe) Ltd., together with enrollment no. HE20058
The Cyprus Securities & Exchange Commission (CySEC) governs the company under permit number 109/10.
- eToro (UK) Ltd. with enrollment no. 7973792
The Financial Conduct Authority (FCA) governs the business, under business reference number 583263.
eToro Europe and also eToro UK both function under and Adhere to all the Markets in Financial Instruments Directive (MiFID).
- eToro AUS Capital Pty Ltd., ABN 66 612 791 803 is currently the holder of an Australian Financial Services Licence (AFSL) 491139 issued by the Australian Securities and Investments Commission (ASIC) and governed under the Corporations Act (Commonwealth).
The corporation has offices in just about all areas of earth.
The Global firm has offices in Limassol, London, Tel Aviv, New Jersey, Sydney, along with Shanghai. More over, you’ll find scores and scores of employees in this provider.
eToro has partnerships with a Number of Other players from the marketplace
Not just that, however, the business has additionally been financed with tens of thousands of dollars by several investment firms. More over, there’s been a great deal of news about eToro in various tech shops. Keeping all of the things mentioned previously in your mind, we can’t overlook the validity of e-Toro.
Is eToro A Regulated Broker?
Yesthere isn’t any doubt the eToro is really a regulated broker. As we mentioned previously, eToro largely consists of of 3 firms: eToro (Europe) Ltd., eToro (UK) Ltd., eToro AUS Capital Pty Ltd.
The Cyprus Securities & Exchange Commission modulates eToro (Europe) Ltd.. Meanwhile, the e-Toro (UK) Ltd is regulated by the Financial Conduct Authority. Lastly, eToro AUS is regulated by the Australian Securities and Investments Commission.
Is Your Deposited Money Safe At eToro?
Of course, a few of the vital things investors wish to understand is when the cash he will deposit into eToro is going to be more safe. More over, could the money be applied with the broker in any instance?
Well, once you deposit some money to eToro, it doesn’t remain in the personal account of eToro. Instead, it is deposited in the banks of first-order like Goldman Sachs, etc.. That’s because a regulated broker must deposit these funds from the clients in separate accounts. Thus, every bit of funds that you deposit to eToro is safe even if the company goes bankrupt. So, there is no need to worry about the safety of your money.
Important Features Of eToro
- eToro offers retail trading on currencies, cryptocurrencies, indices, shares, commodities, etc.
- You can copy the trades of experienced traders. Moreover, eToro can make this process automatic.
- Just like Facebook, Twitter, etc., you can follow other traders here. You can manually copy them, and it’s just a matter of a click to perform this task.
- Share returns can also be earned with CFD.
- You can share the information of all your investments and trades with other members of the eToro community.
How To Open A Demo Account With eToro
If you are willing to open a virtual or a demo account with eToro, you can do it for free. A virtual/demo account offers you virtual USD money. By doing so, you can try any service provided by eToro.
If you want to open a demo account with eToro, then you need to follow the steps given underneath.
- Go to the registration page
- Fill in all the required information
- Finally, confirm the account.
Trading Platform Of eToro
eToro has completely integrated its trading platform within the social trading platform. Hence using this trading platform is just similar to using any social media platform like Facebook, Twitter, etc.. Moreover, both experienced and inexperienced traders find the interface of eToro to be extremely easy-to-use.
Indeed, this platform is straightforward and easy to use. You can access the platform through the “Markets” menu. However, if you have used platforms like MT4, MT5, it will take some time for you to be comfortable with this new platform.
The trading instruments offered by eToro are as follows:
- Forex having 47 currency pairs
- 6 of the main commodities
- 13 leading equity indices of the world
- 10 main cryptocurrencies
- A total of fifty-eight ETF funds
- And, various shares of the share exchanges available in London, New York, Milan, Paris, Frankfurt, Zurich & Madrid
How Does eToro Generate Profits?
When it comes to the method eToro uses to make benefits, the company works on the similarly money-making system as most of the other brokers do. In other words, the multi-asset brokerage company earns money by applying charges on the offered spread.
The customer support service offered by eToro is appreciable. The support team is beneficial and always ready to assist. There are many ways to contact them. You can connect via the telephone or an email. You can also use their chat service or the automatic answer service. Also, you can send a support ticket to obtain assisted whenever needed.
Advantages of the eToro trading platform
- eToro is famous for its zero commission policy
- There is no limit to the number of demo accounts you can open
- The community it has is very active offering smooth interaction
- The platform is straightforward to manage
- You will find a vast educational section
Disadvantages of the eToro trading platform
- There are a lot of unprofessional traders
- Roll-over and spread fees are higher
As we mentioned earlier, eToro is a legitimate company. Not only this, but the multi-asset brokerage company continually tries to improve its services. And, if you are still wondering whether this company is a scam or a trustworthy online platform, then this article must have helped you find the answer to this question. Moreover, all the information shared above should be enough to help you decide whether you should start using eToro or not.