Are you have a query, whether eToro is a legit business or just another Ponzi system? If yes, this eToro review is going to help you clear all of your doubts and queries. Moreover, we have covered only the essential aspects.
So, let’s start without wasting more time and see the eToro review.
What is eToro?
eToro is one of the leading online trading platforms for the stock market, forex market, and Cryptocurrency. Basically, eToro is known for its copy trading feature( founded in 2007). This broker offers CFDs, cryptocurrencies, stocks, and ETFs.
eToro mainly focuses on providing services to consumers such as copy trading, CFD trading, Brexit trading, as well as other financial services. It has the largest consumer database of around 11 million ( according to 2020 ).
However, eToro is a safe broker and platform for trading, regulated by many top-tier authorities.
Founded by: Yoni Assia, Ronen Assia, David Ring
Headquarter: London, Limassol, Tel Aviv-Yafo
Founded: 2007, Tel Aviv-Yafo, Israel
pros and cons of trading in eToro
The best thing about eToro is, It offers commission-free stock trading and second main thing is, you can open your trading account in just 2 minutes and start trading. It provides services like stock trading, crypto trading, commodity trading, and forex trading on their one platform. We can say that all in one platform.
The bad thing about eToro is, customer support is bad they should improve it, and second bad thing is, non-trading fees are higher. Many people did not get a withdrawal on time. So, eToro should improve in some terms.
|Easy Trading Account Opening||CFD and Forex Fees|
|Free stock and ETF trading||Withdrawals can Take Longer Than Usual|
|Best Social Trading Platform||High non-trading fees|
|Great for Crypto Trading||Customer support can be improved|
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Is eToro is a scam
I have read some eToro reviews, they are saying that eToro is a scam it reduces the amount and not give withdrawal at a time. That’s the reason for doing the eToro review and as I mentioned above, eToro has a problem with withdrawal.
As people are saying that eToro is a scam. But, In reality, it is a good platform to start. It is not a scam platform. Due to delay in withdrawal, some people are saying eToro is a scam platform.
When it comes to the Forex industry, there is no doubt that there are many scam projects in this industry. However, eToro is not one of those. I hope you have understood, “eToro is a scam or not”.
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By seeing the eToro review of other people, I decided to do an eToro review and give real information.
eToro can be a best platform for the person who interested in investing or trading in the stock market, cryptocurrency, forex market, and commodity market. In it you can invest in the 4 of them at same platform.
The best thing about this platform is that you can open your account in just 2 minutes. Due to problems in consumer support and withdrawal delay. Some people are saying eToro is a scam platform. However, The people are saying scam due to problem in withdrawal.
Frequency asked questions
Is eToro trustworthy?
Yes, eToro is trustworthy because It is regulated. Investing in a regulated platform is a safe to invest. Regulations are put to keep safe the investors or traders and Experts says, we should also choose the regulated platforms. eToro operates in accordance with the FCA, CySEC, and ASIC.
So, we can say that investing or trading in eToro is safe and secure.
Can you make money on eToro?
Yes, it is possible to make money from copy trading and investing of best investors in platforms such as eToro, but it is not easy and you shouldn’t expect instant riches from it.
It is possible but, it will take some time to get good returns on investment. So, In reality, you can make money on eToro.
Is eToro good for beginners?
Yes, eToro can be the best platform for beginners to invest or doing trading. But, one important point is that the fees charged by it on non-trading fees are higher. So, be aware of it.
So, overall eToro can be the platform for beginners to start with investing from this platform.
Is eToro illegal?
As I mentioned above, eToro is legal because, It is regulated and It is operates in accordance with FCA, CySEC, and ASIC. It proves that eToro is legal.
Is eToro free to use?
Opening account is free. But, If you do investment or trading in eToro platfrom then you should give the charge or fees means brokerage. So, eToro is not free to use.