Since launching in 2007, eToro has grown into one of the most well-known online trading mobile applications. It’s a regulated entity overseen by major financial authorities, including the Financial Conduct Authority (FCA) in the UK, Cyprus Securities and Exchange Commission (CySEC), and Australian Securities and Investments Commission (ASIC). Translation? eToro is a safe app and follows strict investor protection standards.
Security-wise, eToro doesn’t cut corners. Client funds are stored in top-tier banks, personal information is secured with SSL encryption, and users can turn on Two-Factor Authentication (2FA) for an extra layer of protection. The platform’s security measures are designed to keep both assets and data safe.
In September 2024, eToro settled a $1.5 million dispute with the U.S. Securities and Exchange Commission (SEC) over allegations of operating as an unregistered broker and clearing agency for certain crypto assets.
As a result, eToro agreed to restrict U.S. users to trading only Bitcoin, Bitcoin Cash, and Ethereum. U.S. traders have 180 days to either sell other crypto holdings or transfer them to an external wallet.
The catch? This restriction only applies to U.S. customers—international users still have full access to eToro’s broader crypto offerings.
I could say that it’s a mixed bag based on the comments and reviews that I found. While some traders appreciate eToro’s user-friendly interface and copy trading features, others have flagged concerns like wide spreads and in some cases, slow customer support. Reddit discussions and online forums reflect this dual perspective—plenty of satisfied investors, but also some complaints about fees and response times.
eToro is a legit and regulated trading app with strong security measures in place. No doubt about it. However, just like any financial service, it’s important that you stay updated on regulatory changes and weigh both the pros and cons before you decidie if it fits your trading strategy.
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. 51% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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 hasbeen prepared by our partner utilizing publicly available non-entity specific information about eToro.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
