User-Friendly Platform Educational Resources Social Trading Features
Wikitoro author Mike Druttman Written by Mike Druttman
Wikitoro fact checker Nick Zelver Fact checked by Nick Zelver
Updated Feb, 2024

Yes, eToro's app is absolutely safe to use. It employs advanced security measures to protect user data and funds. However, always ensure you download the official app and keep it updated.

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76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

Ever since I started my journey in online trading, I've tried numerous platforms. eToro stood out, not just for its user-friendly interface but also for the sense of security I felt while using it. However, having used many apps in the past, I decided to dig deeper and truly assess its safety measures.

 

A Trip Down Memory Lane with eToro

I've been an active eToro user since 2018. Over the years, the company's commitment to user security has been evident. They've continuously upgraded and refined their safety protocols, making me feel more secure with every trade I make.

 

Security Features I've Come to Rely On

During my time with the eToro app, the multi-factor authentication (MFA) became an indispensable security feature for me. Knowing that my transactions were backed by advanced encryption and SSL gave me peace of mind. Also, I can't count how many times the session time-outs saved me when I hastily left my device unattended.

 

Navigating Through Its Regulatory Labyrinth

One thing that always kept me anchored to this broker was the strong eToro regulations and licenses. Being aware of its operations in strict regulatory environments assured me of its legitimacy and dedication to user safety.

 

Feedback From a Loyal User (Yes, That's Me!)

If app stores allowed for diary entries, you'd find my yearly reviews of eToro. Mostly, I've praised its security features. Of course, like any other user, I've had my concerns. But what sets eToro apart is how promptly they've addressed my feedback.

 

Data Protection: A Personal Assurance

In 2020, when there was a massive spike in data breaches globally, I scrutinized eToro's data protection policies. Their GDPR compliance and unwavering commitment to user data protection eased my anxieties during those turbulent times.

 

Incidents and Breaches: An Insider's Perspective

No platform is infallible. But it's all about the response. During minor hiccups I witnessed with eToro, their transparent and swift action spoke volumes about their commitment to user safety.

 

eToro vs. The World: A User's Comparison

Having dabbled in other trading apps, I can confidently say eToro's security measures often surpass industry standards. Their dedication to safety is evident when juxtaposed with other market players.

 

My Personal Tips for Fellow eToro Users

  • Choose strong, unique passwords: It's saved me more than once.
  • Update the app regularly: New versions often come with enhanced security.
  • Always be on guard for phishing attempts: Remember, eToro never asks for your password via email.

 

Conclusion: From a Veteran User's Lens

After years of using the app, my verdict aligns with the facts: eToro remains one of the safest trading apps out there. While no platform is without risks, their consistent effort towards user safety sets it apart. 

 

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. 76% 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. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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.

Wikitoro author Mike Druttman About Mike Druttman

Mike Druttman, Head of Content at Wikitoro.org, has decades of expertise in marketing communications and business matching. Educated at the CAM Foundation and the Chartered Institute of Marketing, Mike has collaborated with businesses from the UK to Japan. He founded KEYZUNA, bridging Japanese businesses with global innovations. With a diverse background spanning high-tech to hospitality, Mike's articles at Wikitoro reflect his vast knowledge and unique perspective.

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76% of retail investor accounts lose money