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