Is Etoro A Scam? Is It A Big Broker As Reputable As Advertised?

Is Etoro A Scam? Is It A Big Broker As Reputable As Advertised?
Is Etoro A Scam? Is It A Big Broker As Reputable As Advertised?

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As a system that provides a platform for options trading, Etoro also gets a lot of questions as follows: Is Etoro reliable or not? Is Etoro a scam? So, what is the truth? Today, in this article, we will help you answer all of the above questions.

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The financial market has grown dramatically in recent years. It entails a number of online trading platforms that are opened up every day. This gives investors a headache in choosing for themselves a reputable platform. It is to be able to rest assured doing business operations and making profits via trading.

Is Etoro a scam?
Is Etoro a scam?

The legality of the Etoro platform

We are who have many years of experience in the financial market. We understand that a trustworthy platform must have transparent and concrete information. For Etoro, this complete and specific information will be enough to get you out of any doubts.

In legal terms, Etoro (Europe) Ltd. headquarter is in Limassol, Cyprus, and is one of the earliest companies in cryptocurrency investment. It is legally registered for business with the business registration number of HE200585. The company is under regulation by Cyprus Securities and Exchange Commission (CySEC) under business license number 109/10.

The legality of Etoro

In the UK, Etoro UK headquarter (Etoro UK Ltd.) is in London. And it is legally registered in the UK with the business registration number of 7973792. Etoro UK Ltd. receives authorization and subject to the management and supervision of the FCA. According to the legal corporate reference number of 583263, you can check the information.

Meanwhile, both Etoro UK Ltd. and eToro Europe Ltd. are operating in compliance with the directive set out in MiFID.

With this transparent and legal registration information, surely, you will not have to worry about Etoro scams. Because if anything happens, the investor’s interests will be completely guaranteed by regulators around the world.

Transparent transactions in Etoro

In addition to very detailed and legal information about the company, the rumor of “Etoro scam” will be completely dismissed as soon as you are the one directly experiencing trading. According to customers who have been using Etoro’s services for many years, they have never come across anything that makes them think that Etoro is a scam.

Etoro provides a very simple, clear, and easy-to-understand interface with a variety of graphs and completely free tools to help you with your analysis. Its provided trading information as well as price data are also completely honest and objective.

Transparency in trading with Etoro

Why can we confirm this? The main reason is because of the Copy Trading function that Etoro offers to its clients. With this function, you can copy all the operations and parameters of successful traders. This means you will have a high chance of success with copied transactions.

Not only that, but Etoro also allows you to download and review the complete trading history of an investor with steady returns over the past 1 year. You can learn from successful trades, from failed trades, etc., and from there you can trade and make money better.

The Etoro social trading network promotes freedom of speech

Etoro’s social trading network or social investment network is described as “using user-generated content and crowd intelligence to conduct transactions online”.

Etoro utilizes the knowledge of millions of users over 170 countries around the world to promote its social trading network.

Etoro's social network
Etoro’s social network

Other social trading features by Etoro include Copy Funds. A successful Etoro investor group harnesses their wisdom together. Then, they continuously make adjustments to maximize profits.

Users can invest in these funds at will. It’s just like they can invest in any other asset on the Etoro platform. Funds are managed by a sophisticated optimization algorithm based on the intelligence of traders.

This is where everyone can exchange information including information about Etoro’s fraud. But “a picture is worth a thousand words”. If there is no proof you may be sued for “slandering”.

Bonuses from Etoro Copytrader

If you are an experienced investor and have many successful trades during trading, Etoro will help other investors copy your trades. You will then receive a bonus from Etoro for each such copied trade.

For example, when an investor copies your trade with the amount of 100 USD, you will receive a bonus of 10 USD added to your account at the end of each month.

Bonuses from Etoro

However, there are many cases in which this bonus has been already in your account, but you can not withdraw it to your wallet normally. And in this situation, you may think Etoro is fraudulent or unreliable, mightn’t you?

The answer is no. This is a very well-written policy in the Etoro terms and conditions of operation. Regarding these bonuses, you will only be able to withdraw to your wallet after completing a certain volume of transactions. Please read Etoro’s terms and conditions carefully to avoid unnecessary misunderstandings.

Deposit and withdraw money quickly

Deposit into Etoro
Deposit into Etoro

To support the international customer group, Etoro has provided support for a variety of payment methods that can be used for deposits and withdrawals. These methods include:

– Credit cards (VISA, MasterCard, Diners).

– E-wallets (PayPal, Skrill, Neteller, China UnionPay, WebMoney, Yandex).

– Domestic bank transfer.

Withdrawal funds will be transferred via credit card, Paypal, or bank transfer. The withdrawal fee of Etoro is $5, applicable to all withdrawals.

All methods of depositing and withdrawing are very quick. It comes along with the enthusiastic support of a consultant to help you answer all your problems. They will thoroughly handle deposit and withdrawal requests suspended due to a lack of information.

Withdrawal from Etoro
Withdrawal from Etoro

The pros and cons of Etoro

If a platform has many investors participating, it will have many supportive utilities. On the contrary, a trading platform that specializes in scamming will make it difficult to trade or cause traders to lose money fastest.

Pros and cons of Etoro
Pros and cons of Etoro

Pros of Etoro

– It only requires a minimum deposit of $200 to open a real trading account.

– Quick account opening and confirmation procedure: Etoro is one of the fastest account opening and verification platforms available today. The average time to authenticate is just within 1-2 days.

– Support in Vietnam: Vietnamese staff provides quick and effective support throughout the process. They will support from the moment of opening, verifying the account until you open a demo account and conduct real trading.

– Wide range of trading assets: Currently, Etoro has more than 200 different financial instruments for trading. This ensures a diversified and rich trading choice for investor’s portfolios.

– The broker is under the control of many jurisdictions: It is under the control of 4 different jurisdictions. Etoro has shown that the company is always in compliance with the rules and has no intention of tricking traders.

– Available trading platform application: Due to the diversity of users, Etoro has now developed and put into use the trading application on iOS and Android systems.

– Available demo account: Etoro allows users to open demo accounts to challenge trading abilities and get familiar with the web platform before starting with real money.

Cons of Etoro

– Widespread: It is different from normal platforms. Etoro uses spread (the difference between the buying and selling prices) to collect transaction fees. Spread offered by Etoro is higher than that of other brokers in the industry.

So Is Etoro Really A Scam Or Just A Rumor?

Obviously, you can see transparent and legal information about the company, as well as the very good conditions that Etoro offers to customers. Etoro is truly a reliable options broker. And you can be completely assured of the monetization opportunities that eToro offers you.

You may experience failures during trading, but please understand that it is inevitable. Etoro is not a scam. No one succeeds in the first place. You need to learn and accumulate a lot to be able to get high profitable trades. I wish you success with your trades on the Etoro platform.

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