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Is eToro trustworthy?

Is Etoro a Scam?

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eToro operates in accordance with the FCA, CySEC and ASIC. eToro is safe and secure: Always look for security signs on your browser before you trade. On eToro, clients’ funds are kept secured in tier 1 banks, and all of their personal information is guarded under SSL encryption.

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Why is eToro bad?

CFDs are complex instruments and bring a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. Therefore you should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Can you make money on eToro?

Trading on eToro can be very profitable however it’s important to note that, whenever you’re dealing with the markets, you can lose money too (“your capital is at risk”)!

Is eToro really free?

Opening an account on eToro is free! You will not be charged management or ticketing fees. If you are investing in stocks is commission-free. However withdrawals incur a low fee of $5 and FX rates apply to non-USD deposits and withdrawals. In conclusion etoro is not really free if you consider that other fees may apply and are listed here.

Has eToro ever been hacked?

Hackers are selling 62,000 accounts from eToro, the online trading platform. … For a few hours, multiple reports of users have begun to appear that detected unusual activity in their accounts. In other words the data leaking eventually have led to the massive hacking of eToro.

Is eToro a pyramid scheme?

Despite our best efforts, there will be people who think that eToro is a scam site. … eToro is regulated: Not all platforms are regulated. Regulations are put in place to protect investors, so you should only trade with regulated platforms. eToro operates in accordance with the FCA, CySEC and ASIC. Therefore eToro is not a pyramid scheme.

What is better than eToro?

Top Alternatives to eToro

  • MetaTrader 4.
  • thinkorswim.
  • E*Trade Web Platform.
  • MetaTrader 5.
  • Active Trader Pro.
  • Binance.
  • IEX.

What is the minimum deposit amount?

Start trading with a minimum first-time deposit of as low as $200!*

After your first deposit, there is a minimum deposit amount of only $50.

* Please note the following exceptions:

Users residing in:Minimum first deposit:
Austria, Germany, Ireland, Italy, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom, United States$50
Azerbaijan, Bahrain, Cayman Islands, Costa Rica, Dominican Republic, Egypt, French Polynesia, Georgia, Gibraltar, Iceland, Isle Of Man, Jersey Island, Jordan, Kazakhstan, Kenya, Kuwait, Lithuania, New Zealand, Oman, Qatar, Reunion Island, Senegal, Ukraine$1,000

All deposits via Bank Transfer must be at least $500.

When you register a corporate account, a minimum first-time deposit of $10,000 is required. 

Please note that eToro reserves the right to change the above deposit minimums at any time.

Do I pay tax on eToro?

Generally speaking, when you make a profit on eToro, either via copying successful traders or by taking your own investment decisions, you may be required to pay tax on the proceeds if you are based in the UK. In conclusion you can pay taxes and you should check with your accountant and tax authorities.

Is eToro illegal?

I know that eToro is monitored and regulated by FCA and CySEC. In conclusion, no, it is not a scam. eToro is legit. Therefore, trading platforms like this do have some pitfalls for less experienced investors.

Is eToro good for crypto?

If you are a cryptocurrency investor who want to mirror the moves of serious crypto traders, eToro‘s social trading platform is an attractive offer. Therefore with 18 cryptocurrencies to buy and trade, you can use eToro with a greater selection than some other U.S. crypto brokerages.

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Editorial Process:

Our reviews are made by a team of experts before being written and come from real-world experience. Read our editorial process here. Some of the links in this article may be affiliate links, which can provide compensation to us at no cost to you if you decide to purchase a paid plan. These are products we’ve personally used and stand behind. This site is not intended to provide financial advice. You can read our affiliate disclosure in our privacy policy.

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