What is eToro?
eToro was founded in 2006 by three partners, who aimed to create a financial trading platform suitable to the traders of all levels, offering easy and convenient trading tools. In fact, nowadays the parent company became the largest and one of the most popular brokers along with eToro social trading network that serves more than 6 million users from around 150 worldwide countries.
eToro specializes mainly in CFD assets trading and is a social trading community, also is a fully regulated broker including respected FCA and authority of Australian securities (ASIC).
eToro offers both live accounts and demo one with advanced trading capabilities.
In fact, every day thousands of new traders continue connecting to eToro expanding community globally, so let us get closer and understand a reason for that.
eToro Pros and Cons
eToro is a secure broker with good reputation and is top social trading broker. The account opening is easy, platform is seamless and easy to use, also eToro is number one for copy trading for the number of traders and available portfolios.
On the negative side platform is rather basic, spreads for some instruments are high and there is no 24/7 support.
Is eToro safe or a scam
Yes eToro is safe and not a scam, due to heavy regulation and licenses from CySEC, ASIC, FCA with high trust. Thus, it is secure and low-risk to trade Forex or social trading with eToro.
How is eToro regulated?
eToro provides its trading service through headquarters in Cyprus and its additional entities eToro Europe, eToro United Kingdom and eToro Australia Capital. While entities are authorized by three separate jurisdictions FCA, Exchange Commission CySEC (Check out CySEC regulated Forex broker LegacyFX Review) and ASIC.
Therefore it means the trading account and financial services fully comply with the measures and regulations set by the respected authorities. According to MiFID that serves European clients and provided by Cyprus Securities and Exchanges Commission (CySEC) and UK Financial Conduct Authority (FCA) licenses eligible to trade.
In regards to Australian clients, eToro entity operates and provides live trading with authorization and compliance of ASIC license.
Conclusion
Overall, eToro is a winner top social trading broker for number of copy traders and transparency of trading. Why did 6 million customers choose this platform and is eToro good or is eToro worth it? There are several reasons flexibility of eToro platform, thousands of other trading participants for social trading. Besides, if you would add to this the advantages and possibility of traders teamwork and high deal bonuses, it becomes obvious that cooperation can bring a good impact to all. In fact, though there are other social trading platforms available, eToro has become today the best and leading in its class.