Is eToro a Scam or Legit? Is it Safe to Invest Money Using eToro?

Before you invest your money using an online broker, you have to be 100% sure the broker is legitimate and in compliance to operate legally. eToro is one of the fastest-growing multi-asset online trading platforms in the world today.

I joined eToro last June 2019 because of the wide availability of assets to trade using that platform. On this post, I’m sharing how legit is eToro and why you should trust it.

5 Important Proofs that eToro is Not a Scam

1. Jurisdiction and Regulation

United Kingdom – eToro (UK) Ltd. is regulated by the FCA (Financial Conduct Authority), the conduct regulator of financial services firms and financial markets in the UK. eToro UK Ltd. has registered office at 5 Fleet Place, London EC4M 7RD and 24th Floor, One Canada Square, Canary Wharf, London E14 5AB.

Cyprus – eToro (Europe) Ltd. is regulated by the CySEC (Cyprus Securities and Exchange Commission) granting license to offer services in the European Economic Area and its member states. Their registered office is at 4 Profiti Ilia Street, Germasogeia, Limassol, Cyprus.

USA – eToro USA is operated by eToro USA LLC, which is registered with FinCEN as a Money Services Business.

Australia – eToro AUS Capital Pty Ltd. is authorized by the ASIC (Australian Securities and Investments Commission). You can find their office at Level 26, 1 Bligh Street, Sydney NSW 2000.

2. Founders

eToro was founded by brothers Yoni Assia and Ronen Assia with David Ring. Let’s get to know each one of them.

Yoni Assia

Yoni Assia is the CEO and Founder of eToro. According to his business profile, he is a member of the YPO and was included by Financial News in its prestigious Fintech 40 ranking and by City A.M. as a Fintech 100 top influencer. He holds a B.Sc. in Computer Science and Management and an MSC in Computer Science.

Yoni is a believer of Bitcoin and Blockchain technology. With fellow cryptocurrency entrepreneurs, he had the chance to have dinner with legendary investor Warren Buffett.

yoni assia etoro ceo with warren buffett
Photo Credit: Yoni Assia’s eToro post when he had dinner with the Oracle of Omaha

Ronen Assia

Ronen Assia is the Chief Product Officer and Co-Founder of eToro. According to his business profile, he has been merging technology and design to create products that perform across multiple platforms for more than 20 years. Ronen oversees products and engineering at eToro. He holds a BA in Industrial Design from Bezalel Academy of Arts and Design, and an MA in Product Design from the Royal College of Art in London.

David Ring

David Ring is a Co-Founder of eToro, Colu, and DeepNen. David holds B.Sc. in electronics from the Technion, M.Sc. in computer science from IDC, and an MBA in finance from Manchester business school.

3. Company Investors

eToro counts several large institutions as its investors, including Ping An, the world’s largest insurer and other prominent investment firms including the following:

etoro investors

4. Web Summit Exhibition

eToro is the world’s leading social trading network. The company was an exhibitor at Web Summit. Their team regularly attend exhibitions and conferences around the world. You can watch eToro CEO Yoni Assia in this video discussing Wealth Management.

5. Company Vision

eToro’s vision is to open the global markets for everyone to trade and invest in a simple and transparent way. Done are the days that you have to hire an expert to manage your investments for you. With eToro’s cutting-edge CopyTrading technology, any trader can copy an investor’s strategy.

Disclaimer:

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
 
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
 
Past performance is not an indication of future results.
 
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
 
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

About Fehl Dungo

Founder of DailyPik, entrepreneur, and tech investor. I have a Degree in Accountancy and a background in Finance. I analyze stocks everyday. Copy my trades on eToro Connect with me on Facebook

4 thoughts on “Is eToro a Scam or Legit? Is it Safe to Invest Money Using eToro?”

  1. Hi Ms Fehl- I have been reading your blogs and has been amazed by your selfless act of sharing, and for that I’d like to say thanks to you. I am trying to copy you on eToro, but during “deposit” , and using the debit card- a blank white page appears- and no deposit transaction happens, do you have an idea what the problem might be? Thanks a lot again!

    Reply
  2. Hi, I tried to COPY you and some other trader on e-Toro but Copy Trading is currently restricted on my account. Any idea what I should do to activate Copy Trading? Thanks

    Reply
    • Hi 🙂 It has something to do with your investor profile and settings. Some of my copiers encountered the same problem but it was fixed quickly. Kindly email me at fehl25@gmail.com so I can help and assist you better.

      Reply

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