Is eToro a Scam?

Last updated: November 1, 2017

Summary

eToro – a Scam or a Legit Forex Trading Broker?
100% Full & Objective eToro Review by Experts
eToro Social Trading + Feedback – See All Below!

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Details

Broker eToro
Official Website URL www.eToro.com
Address 42nd floor, One Canada Square, Canary Wharf E14 5AB, London, United Kingdom
Support Number +44 (0) 203 150 0308
Support Types Live Chat, Phone, Contact Form, E-mail
Minimum 1st Deposit $50
Payout 1:400
Free Demo Account Open FREE Demo NOW
Deposit & Withdrawal Methods VISA, PayPal, Neteller, Skrill Moneybookers, Diners Club, JCB, MasterCard, Web Money, Yandex
Account Currency USD
Overall Score 9.6/10

eToro Broker Review

eToro is one of the most popular platforms that operate as forex brokers and CFD broker. The eToro broker is a well established and popular platform on which traders from all over the world make good investments.

It is conceived as a social investments platform – with eToro you can exploit the collective knowledge and experience of the community, you can learn from it, interact with other clients and copy their trades.

eToro possesses a wide range of trading platforms through which investors can connect to all major markets and exchanges worldwide, and trade on the assets featured. This is a broker with numerous capabilities that can offer a vast array of opportunities to its traders. eToro is not a scam broker. To learn more about how to become its client and what it can provide for you, read our detailed review below.

eToro Trading – Scam or Not?

The eToro trading platform is popular not just because of its highly opportunistic offers but also because it provides safety for investors’ funds and investments. On one hand, the mother company is regulated by CySEC. On the other, its UK subsidiary is regulated by the FCA, while both operate in compliance with the MiFID.

The eToro broker also applies Anti Money Laundering policies. There is a very strict procedure of identity verification when you sign up for the eToro trading platform. Also, they apply a Capital Adequacy policy which obliges them to have own funds that can at all times answer to the European Capital Requirements Regulation capital adequacy ratios.

Review Verdict: eToro is a Reliable Forex Broker

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In addition to that, there are Safeguarding policies in place, regarding clients’ assets. All of them are kept in the segregated account, separated from eToro’s assets. Only investors can operate with these funds and assets. Put in simpler terms, the eToro broker is not a scam – the forex eToro platform is secure and safe, making trades on the eToro investment platform could deliver good results. And that’s why we recommend it as safe.

How to Use eToro?

As per the information available, the eToro broker provides a platform for social and copy trading. This broker is actually one of the pioneers in the field. It allows investors to connect with each other and share what they know and how they operate.

The CopyTrader feature provides you with the chance to expand your investment portfolio. User rankings and winning ratios are made available and you can choose who to follow. Their trades would be automatically copied onto your account. What is very good about this feature is the fact that it can provide you with a high success rate – meaning that this feature really works to the benefit of the trader.

To start copying someone’s trades, find the investors you prefer, set up a Copy Trader amount that would be used as investments and just enjoy the results.

How to Join eToro Social Trading?

To become a client of the eToro trading platform, you have to open an account. But to start making investments, you will have to deposit an initial amount into this account. You can do that with as little as $50. There might be some variations depending on your region.

As a client of the eToro broker, you will be able to choose between various deposit methods, including debit and credit cards, wire transfer and e-wallets. eToro allows deposits in only one currency – USD.

With the eToro broker platform withdrawals will be transferred via the same method you have used to make your initial deposit. Transfers to e-wallets take up to 2 working days, while transfers to cards or through wire might take up to 8 working days, but no less than 3 days. The minimum amount you can withdraw is $20. There are withdrawal fees – $5 for withdrawals up to $200, $10 for withdrawals from $200 up to $500, and $25 for withdrawals bigger than $500.

Why Join eToro Trading Platform?

The eToro platform is user-friendly. It offers a wide variety of opportunities and be of help for anyone interested in forex and CFD trading. This is a legitimate platform that operates under strict regulation. And it also offers additional features that could enhance your investments:

  • Extensive Trading Academy – there are various free materials and resources provided to help you develop additional skills and gain knowledge.
  • User-Friendly Platforms – you can trade both on your desktop device, your smartphone, as well as through the social trading platform.
  • eToro Bonuses & Promotions – to add to their very flexible trading terms and conditions, the eToro broker offers regular promotions, some even permanent, to help the investors on the eToro platform increase their success.

Review Verdict: eToro is a Reliable Forex Broker

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eToro Customer Service

Among all other advantages of the eToro forex platform is their excellent customer support. It is constantly available and you can reach it through various channels of communication. There are a live chat, e-mail, phone address and physical addresses available.

Conclusion

If you are looking for a reliable forex and CFD trading platform, the eToro broker is one of the best alternatives available. It is heavily regulated, a thing like an eToro scam cannot exist. Our investigation yielded very good results in support of the broker platform. Our team recommends it as safe.

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