Is eToro Legit or Scam? Why Bad Reviews ⭕️ My 11.721€ Experience)

Is eToro Safe
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Reasonable question: is eToro legit or not?

Is it a safe service or a scam?

Their advertising on YouTube are very aggressive. Should I avoid eToro?

If you are wondering whether the eToro broker is a scam or not, I will help you find out.

Why eToro is bad and why eToro has some negative reviews online?

Who writes these negative eToro reviews?

Let’s see if eToro is safe and legit and if there is a lack of competence of those complaining.

I will also spot what is wrong with eToro Europe and what to do about it.

Come with me…


Is eToro Legit? If yes, why?

eToro may be considered legit for a number of reasons.

Let’s see it one by one.

An important aspect of legit investment websites is that they are regulated.

 

# Is eToro regulated? If yes, where?

eToro is regulated by several top tier regulators worldwide.

eToro Regulation officeCountry
FinCen (U.S. Department of Commerce’s Bureau of Industry and Security (BIS)
eToro USA LLC
USA 🇺🇸
FCA (Financial Conduct Authority)
Reference number: 583263
UK 🇬🇧
CySEC (Cyprus Securities and Exchange Commission)
Licence n. 109/10
from Cyprus securities
Cyprus 🇪🇺
ASIC ( Australian Securities and Investments Commission )
Licence n. 491139
to etoro aus capital pty
Australia 🇦🇺
Source:revenueland

This top level regulators would never authorize eToro to offer its services to US citizens if it was a scam or if this broker was unsafe.

Imagine eToro USA LLC accounts to be a scam? NO, it can’t happen. Same with the Australian Securities and Investments Commission (ASIC).

 

# eToro Europe level of protection

eToro users’ funds are protected by different financial services compensation scheme.

So, what happen if eToro goes bankrupt?

If eToro becomes insolvent there are a few protection schemes to rely on.

The terms and entity of the compensation depends from the country of the user:

 

Users CountryeToro CompensationsHow much?
European citizens
🇪🇺
Investor Compensation Fund designed for Customers of Cypriots Investment Firmsup to 20.000 €
UK citizens 🇬🇧FSCS in the UK ( financial services compensation scheme )up to 85.000 GBP
eToro USA LLC accountsSIPCup to 500.000 USD
All eToro users 🌍Lloyd’s of London private insurance provided by eToro (in case of insolvency)up to 1.000.000 EUR/GBP/USD
source:revenueland

 

# eToro private insurance

Should eToro go bankrupt, the investors are covered by a private insurance (Lloyd’s) up to 1 million euro/dollars/pounds.

The eToro insurance covers cash, CFD, and all securities except cryptos.

safety etoro insurance

Has eToro ever had any security issues?

eToro website has never been hacked.

All information and transactions go under to SSL protocol encryption.

All eToro users are encouraged to employ 2-factor authentication (2FA)

eToro is running a Vulnerability Disclosure Program on HackerOne. Anyone can send a vulnerability so that it can be studied.

Disclaimer: eToro is a multi-asset platform offering CFD and non-CFD products. 68% of retail investor accounts lose money while trading ‘CFDs’ with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered as investment advice or recommendation.


Why eToro is BAD?

Let’s examine the reasons why some say eToro is bad.

eToro is bad and it has been criticized for its relatively high fees, including withdrawal charges and spreads, which may significantly impact profitability for active traders. Additionally, there have been documented concerns regarding the platform’s customer service, with users reporting delayed responses and unresolved issues, potentially complicating user experience during critical trading times.

The platform’s heavy reliance on CFD trading also raises concerns, as these instruments can be highly volatile and not suitable for all investors, particularly those new to trading who may not understand the associated risks fully. Despite these criticisms, eToro remains a decent solution for those seeking a user-friendly interface and the innovative social trading features that allow users to mimic the trades of experienced investors, providing a unique way to engage with financial markets.


I have tested eToro with scam detectors

eToro is not a scam: here is why.

The first thing we want to know is to find out if eToro is a scam, a fraud or not, then we move into the “safety” chapter.

I have run a scam test of eToro.com into the authoritative scam detection website scamadviser.

Here is the result:

etoro scam fraud
Source:scamadviser

As you can see, eToro Europe is not considered a scam website and the result is based on sevaral parameters like:

  1. This website is receiving a lot of real traffic
  2. There are thousands of positive reviews for this site
  3. The SSL certificate of eToro is valid
  4. The owner of the site has claimed the domain name for a long time
  5. This website has existed for many years

 

This broker offers a safe web experience: here is why.

 

This website is also trusted by Norton Safe Web scanner:

etoro safe website
Source:nortonsafe

 

eToro is tecnically safe, because it exist since very long time and it is receiving a huge share of real internet traffic from real users.

Now let’s move to the reasons way eToro can be considered legit and reliable form an investor perspective.

 

Disclaimer: eToro is a multi-asset platform offering CFD and non-CFD products. 68% of retail investor accounts lose money while trading ‘CFDs’ with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered as investment advice or recommendation.


How is my direct experience on eToro?

I have been an eToro Europe user for many years.
So I can speak about my first-hand experience on eToro as a long-time investor.

To be honest: I have also been looking for the best eToro alternatives and I have not found great competitors on the social trading feature.

my direct experience on eToro


Over the years I have experienced all the functions eToro offers with my own money and for long periods of time.
I also tried investing with eToro copytrading and Smart Portfolios.

I feel I can speak knowledgeably about eToro trading platform also because I have tried and used dozens of brokers in Europe.

Having tested first-hand many investing sites like this broker I can finally write about them with knowledge and knowing the alternatives on the market today.


I hope to share useful, first-hand information about eToro that will help you understand whether it is a safe and reliable site for you or not.


My doubts before starting with eToro

If I am honest, even I had doubts before I started investing in etoro.

My doubts before starting with eToro


I never liked their aggressive way of advertising themselves.
Their constant video ads on YouTube made me suspect that there was something I didn’t understand.


I mean, if it was all so easy, why wasn’t everyone doing it?


Eventually I was convinced to register and start mainly because I was attracted by the copytrading features.
I did not know that I could access the portfolios of all traders even without depositing a single euro.
Obviously then, when I saw the results and the consistent explanations of those who have their portfolios out in the open, I decided to deposit and invest too.


Why so much talk about eToro?

eToro is enjoying a huge boom, because it is so easy to use that even the “average Joe” is able to start investing within seconds after registering.

The real downside of this broker was the minimum deposit of 200 Usd, but now is lowered to 50 USD only (differs from country to country).

In practice, those who register now, need at least 50 Usd  to invest.

Of course it’s your money to invest, the service remains free. If you don’t have 50 Usd you can sign up, do simulations, spy on others, but you can’t do real operations.

Indeed eToro wins easy these days because, who is preparing to buy Bitcoin, Ripple and similar on the “traditional” e-wallets, normally find it easier to do it on eToro than on real portfolios.

eToro wallet is considered the safest crypto wallet available today

Many of these portfolios are not user friendly and hard to understand for new investors who do not know how to pick one.

It must be admitted that eToro solves part of the problem, because it allows you to invest in cryptocurrency WITHOUT complexity.

To buy Bitcoin on the dedicated wallets users have to store long passwords that are very long, fight against attacks and security issues, high commissions and all the discomforts related to some real cripto portfolios.

eToro may be a good and fast way to buy Bitcoin without the hassle  (offered by many overcomplex crypto trading wallets).

Is buying Bitcoin on eToro free?

No. Why should it be free?

It will cost you 0,75% of the invested money.

If you cannot judge yourself, I can tell you that 0.75% commission is not much to buy cryptos.

 

Note: 68% 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 money rapidly.


Video is eToro safe on YouTube

Here is a video on the reason why people lose money on eToro (and then leave bad reviews):

Is Etoro A Scam? Will They Steal My Money?

In this video on eToro is also explained how to search the traders to copy based on past performance in the long term. Most newby only go for the maximum performance and this is a mistake.

Always check their trading history of other etoro users, especially if they do crypto trading.

Disclaimer: eToro is a multi-asset platform offering CFD and non-CFD products. 68% of retail investor accounts lose money while trading ‘CFDs’ with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered as investment advice or recommendation.


How safe is eToro?

Am I at risk if I invest with eToro?

Is eToro safe

eToro is a company registered in Cyprus and it has been authorized to operate in several countries including many the US states.

eToro is NOT a new broker.

It is one of the oldest since it is operating since 2007.

This broker is available and authorized also in most US states since 2020.

A certain level of safety also depends by the wise use of the tool. To be clear, eToro has 30 million users and it is a very old and popular broker.

In my opinion eToro has no safety issues but since it is a broker it may be used for good or not.

eToro is legit platform, I’ve never had any doubt about safety.

Second question is: is eToro legit?

eToro is legit, as far as I know and it is regulated by the FCA in the UK, the CySec in Cyprus and by the ASIC in Australia.

 legit regulated UK

Above the screenshot from the UK FCA authority official website where eToro is registered with number: 583263

Being a regulated, legit and authorized broker does not mean that there is no risk of investing and losing money.

I believe that this broker is potentially “less risky” compared to other trading platforms because they offer copy trading strategies. Copy trading is a portfolio management service.

Normally, when you register to a stock broker you are alone.

When you sign up to eToro the also offer (included and free) the social trading strategies. So that you can be in contact with millions of other investors and even copy their moves if you wish to.

If I use eToro Europe to buy single stocks like Amazon without any idea of what I am doing I can say that it is not eToro to be unsafe, it’s my behavior that is not appropriate.

Disclaimer: eToro is a multi-asset platform offering CFD and non-CFD products. 68% of retail investor accounts lose money while trading ‘CFDs’ with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered as investment advice or recommendation.


eToro rewiews on Trustpilot

How are the opinions about eToro on Trustpilot?

I went to the most popular review platform to find out who are the people behind the worst eToro reviews and what are their reasons to complain about the broker.

Here is one of the most significant reviews on eToro I’ve spotted:

trustpilot etoro opinion

In this review the user is asking why so many users try some DIY investing/trading if they can easily copy the best traders out there (for free).

I agree.

In many cases we may think that stock trading is easy, but it’s not.

It is much safer to copy other experts and only later maybe try some DIY.

etoro reviews

So, what about the other negative reviews?

Well, most of the negative reviews seem to be written by users who have only left one single review on Trustpilot, and it is a negative review. Some may be fake eToro reviews.

Some eToro customers are angry because of the slow customer service.

It seems that in some periods this broker receives so many new customers that they have difficulty in servicing all requests. Most complaints about eToro are often written all on the same day or week.

I’ve never had any problems with this, but I may have been lucky.

Some other nervous eToro customers complain because they deposited money into their trading account using a bank that is not in the name of the user registered on eToro.

This is prohibited by law in the sense that eToro could never accept accounts being funded from different sources. If you ever register with this broker remember to use your real name and details and only use your bank account to transfer money.

etoro-5usd-withdrawal-fee

Recently eToro Europe removed or reduced many of the most unpopular fees brokers use to apply. The best move was to offer free ETFs and stocks trading and also reducing to 5USD (from 25USD) the withdrawal fee.

I suggest anyone to read the bad eToro reviews. Let’s learn from the mistakes of other users, save on fees and privilege the free copy trading strategies.


My easy way to start with eToro

I’d say the best service is the copy trading platform.

It is possible to copy crypto traders and porfolios.

🔴 The best way to copy cryptotrades and amplify results is by copying these 3 portfolios:

  • “Napoleon-X” (+450% last year)
  • CryptoEqual (+505% last year)
  • CryptoTakeOver (+150% last year)

To do it, I just go to my eToro trading account and I write these names in the search box, then click “invest”

After this simple operation I will be automatically investing in a managed portfolio of cryptocurrencies and companies related to cryptos.

If Trading history presented is less than 5 yearsit may not suffice as basis for investment decision.


Is eToro good on Reddit (reviews)

I went to Reddit to see what Redditors say about eToro broker.

I have analyzed all the latest eToro reviews on Reddit.

I read thousands or Reddit posts and comments on this broker and tried to summarize it all here.

So, is eToro good on Reddit?

etoro reddit
Here are the Reddit comments, post and opinions about eToro

Opinions on eToro on Reddit are very mixed.

Searching for eToro on Reddit I’ve found threads and subreddit with titles like:

“eToro is a scam avoid it at all cost” or ” I’m new to shares and online trading, I stupidly joined a website called eToro and bought $50 worth of Google shares” or “What do you guys think about eToro?”.

Reading those titles one should be scared, right?

But diving deep into the comments it’s easy to see that who is complaining about this broker is often someone that knows nothing about investing and that it is trying  some DIY to become rich overnight.

Reddit answers to those threads from expert eToro account users (there are many)  are very useful to read.

Most of them point out that the only safe way to use the eToro platform for a beginner is to test some copy trading.

After some time copying other traders it is ok to start with DIY investing on the real eToro trading platform.

Most DIY investors on Reddit prefer to invest in exchange traded funds like the VTI or high dividend ETF.

I do the same:

my portfolio eToro

Lately on the popular Reddit community Wallstreetbets there were a lot of talks about eToro.

Another issue that is often mentioned on Reddit about this broker is “etoro withdrawal problem“.

Most new users just don’t know that invested money are (obviously) not available for withdrawal and that the minimum amount to be withdraw is 30 USD.

eToro bad reviews? Safe or scam? Beginners warning!

What is the best eToro alternative broker?

It is not easy to find an alternative to eToro.

I believe Freedom24 and XTB are the most powerful tools as an alternative to eToro as a trading platform.

Disclaimer: eToro is a multi-asset platform offering CFD and non-CFD products. 68% of retail investor accounts lose money while trading ‘CFDs’ with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered as investment advice or recommendation.

Freedom24 is a NASDAQ-listed broker with high interest on the uninvested cash.

This European stockbroker, offers more that 1 million investment options at the major exchange of USA, EU and Asia. In addition, Freedom24 clients can earn up to 8% p.a. interest on the uninvested cash with the fixed-income savings plan.

Current promo: 30 days zero commission trding for new clients. (Read more)

Freedom24 is a CySEC authorised broker and member of the ICF with protection up to a maximum of €20,000. Please note: investments always involve risks. It is important to do your own analysis before making any investment.


eToro monthly returns?

In the web you will find incredible ads that promise astronomical performance rates.

eToro cannot guarantee 10% per month or similar nonsense! I advise you to stay away from those who promise guaranteed returns on eToro, because this is not possible. eToro Europe is an instrument for investing, does not guarantee returns and is not a “Ponzi scheme”.

This broker offers less variety of products to trade on compared to other similar platforms but ETFs and stocks are free.

CopyTrading is free.

CFDs are not free.

Some ETF ( exchange traded securities ) on eToro account are served in CFD trading and are free.

If I want something that resembles a monthly return from eToro I could invest in ETF ( exchange traded funds  ) that include dividend stocks.

ETF Investing for Beginners is possible with eToro since the platform is easy to use.

If I want monthly returns I can have a look at the best dividend ETF in Europe or even to the JEPI ETF review.


eToro complaints

Why do people complain about eToro broker?

It is true, some investors and some traders do complain about eToro.

As I said before, many of them are not expert and commit very trivial mistakes.

eToro complaints

The most common mistakes on eToro that trigger complaints is to invest in very volatile assets (like some cryptocurrencies) and try to exit the investment immediately. In these cases the amount available to withdraw from eToro may be less than the original one, since the asset we have invested in may be less valuable than before.

There is no money guarantee on eToro, so it is possible to lose money if we invest in the wrong asset or if we just invest at the wrong time.

Some eToro complaints also mention the level of assistance received by the platform.

Are eToro Europe users right to complain about slow customer service?

At certain times eToro receives thousands of requests for assistance.
This happens regularly when many thousands of new and novice investors sign up to the platform.
Obviously those who have just registered are likely to ask for something, it is logical.
Peak periods in support requests now happen with some regularity and coincide with price spikes in Bitcoin or even other highly coveted assets (Amazon shares, Tesla, etc).

Another reason that triggers some complaints on eToro is the commission to pay to cash out the money.

eToro is quite transparent about their prices and there is a page dedicated to withdrawal fees. It is also very simple: 5 USD for every withdrawal.

So, less withdrawals will lead to less commission to pay on eToro.

One more thing to know is that eToro functions with US dollars, so every time I make a deposit my money will be converted in US dollars.

This operation may be convenient or less convenient depending on your currency and a fixed fee applies to the conversion.


Where is eToro based?

eToro is not a local business.

eToro has:

  • more than 1.200 employees
  • 20.000.000 users
  • from more than 100 countries

Office are located in more countries:

etoro office

Who is behind eToro?

If you wnat to make sure real people exist behind eToro you can check the management LinkedIn profiles.

Here are the eToro top manager LinkedIn accounts:

 

 Real people that have been running a real profitable business for ages.

Here are the eToro top manager faces:

etoro team manager

 

Please be aware that the fonders of eToro still seat in the top posizioni in the company. This is a great sign of reliability.


How Does eToro Make Money?

eToro effectively generates its revenue by capitalizing on the difference between the bid and ask prices, commonly known as the spread.

This practice serves as a typical approach employed by brokers to determine the pricing of trades and collect fees, even if a platform advertises fee-free or commission-free trading platform. By leveraging this strategy, eToro is able to establish a sustainable business model while ensuring liquidity and facilitating efficient transactions for its users.

It is important to recognize that, despite claims of being a free trading platform, the bid-ask spread remains a fundamental component in the financial ecosystem, enabling brokers like eToro to maintain their operations and provide valuable services to investors.

eToro is not the only broker offering low cost trading. You could find out more on the Scalable capital Vs Trade Republic comparison.


What is eToro in short?

eToro is a legit broker regulated by top level authorities worldwide.

eToro is popular because the offer copy trading and social trading strategies.

Company headquarters are in Israel, but most other eToro users are worldwide.

It was funded in 2007 but the actual CEO and part of his family.

eToro is planning to go public next year. This will add another layer of safety and transparency to its operations.

That’s on offer on the eToro platform?

eToro offers:

  • CFDs
  • ETFs
  • Stocks
  • Cryptocurrencies

eToro company value is about 3 billion USD nowadays.


eToro countries allowed

Is eToro available in my country?

Not all countries citizens are allowed to use eToro.

The list of countries allowed is published on the website.

 

Disclaimer: eToro is a multiple-asset platform offering CFD and non-CFD products. 68% of retail-investor lose money when trading ‘CFDs’ with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered as investment advice or recommendation.


What is the safest way to use eToro?

Investing cannot be safe 100%. Period.

So if you are new to investing and you think you will feel bad losing money rapidly or to see you investments go up and down, just don’t start.

The safest way to invest is not investing money we can’t afford to lose.

Investing is a process, not a one-shot action.

In my opinion the safest way to use eToro for beginners is to rely on the copy trading service.

Using the copy trading is free but I will still pay the commissions of buying and selling the assets of course.

If I do copy trading on eToro I just need to pick one or more traders to “copy” and let the system do he job for me.

Yes, it is as easy as this.

Easy does not mean 100% success.

I focus my energies on choosing a good and reliable trader before starting to copy him.

If Trading history presented is less than 5 yearsit may not suffice as basis for investment decision.

Another great safe way to use eToro Europe is to invest through its 72 Smart Portfolios. It is similar to robo advisor investing, like with the “ready to use” portfolios you find on Moneyfarm.

Should I buy Google stock?


Conclusions

To write this article about etoro’s security, I used various methods.

  • First of all, I reported my direct experience as an etoro user.
  • Then I used various anti-fraud services to investigate the goodness of the service.
  • Next I looked closely at the history and background of the founders of eToro, its past and current managers.
  • I also analysed the structure of the platform to find out whether it makes sure it uses technologies that can defend itself against external attacks and that guarantee the money and data of its users.
  • Finally, I compared eToro in terms of security and usability with all other investment platforms in Europe and around the world.


The end result is that eToro is a legit website for investing and is supervised by top-level bodies on four continents.

The worst aspect of eToro as an investment platform is that the securities purchased are not exportable to other brokers, this is why eToro is bad, but for most people that is not an issue at all.

This is a problem that only affects a very small percentage of users, as there is little reason to change given the advantageous conditions offered and the ease of use.

Those who still have doubts about the genuineness of the services offered by eToro have the possibility to register for free and use the platform without depositing money.
The DEMO section of eToro is identical to the real thing and can be used to copy other traders or even just export investment ideas that are working.

Disclaimer: Please note that CFDs are complex instruments and, due to the leverage effect, carry a high risk of losing money rapidly. 68% of retail investor accounts lose money when trading CFD 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. The trading history shown is less than 5 complete years and may not be sufficient as a basis for an investment decision. Copy Trading is a portfolio management service provided by eToro (Europe) Ltd., which is automated and regulated by the Cyprus Securities and Exchange Commission. Cryptoassets are volatile instruments that can fluctuate greatly in a very short time and are therefore not suitable for all investors. Unlike CFDs, trading in crypto assets is not regulated and is therefore not monitored by any EU regulatory framework.


Do you agree with this eToro bad review?

Do you think eToro Europe is safe or not?

Write a comment now if you think eToro is bad!

Why eToro is bad?

 

Is it safe to buy on eToro?

eToro is a safe broker that is allowed to offer its services in several countries.
The eToro website is sicure and safe.
The eToro users funds are held in top level bank accounts and all the data is encrypted win SSL portocol.

Is eToro safe for beginners?

Yes, eToro can be considered a safe broker for beginners. I believe eToro is a better choice for beginners compared to other stock brokers.
The reason is that on eToro a beginneg investor is NOT alone. The social trading service is very heplful to asset beginners to make safer bets.

Can you lose money on eToro?

Bad investing decisions can bring losses on all brokers.
In most cases, the maximum loss you can make on eToro is the deposited money. eToro helps to protect his investors from having a negative balance.

How many people lose money on eToro?

Approximately 68% of users who trade CFDs lose money with eToro.

Can eToro be trusted?

eToro is an old and reliable broker with more than 20 million customers, so it can be trusted.

What if eToro goes bust?

If eToro goes bust the money will be returned to you.
eToro also offers a guarantee up to 1 million euros by LLoyds.

Should I trust eToro?

eToro is trustable. They serve more than 20 million customers worlwide.

Is it safe to have money on eToro?

It is absolutely safe to have money on eToro since it is a reliable financial broker serving its customers since 2007.

Is your money insured on eToro?

Yes, money on eToro is insured up to 1 million euro in case of bankruptcy.

What are the risks on eToro?

Using eToro brings a certain level of risk.
eToro also offers CFDs which are a risk asset.

What is the catch with eToro?

The most negative side of eToro is probably the high trading feed for cryptos and the inactivity fee.

Why not use eToro?

One reason not to use eToro could be that eToro uses CFDs, which have a bad reputation among investors. For the sake of completeness, it should be mentioned that the way in which etoro allows the use of CFDs is different from the more unscrupulous open trading platforms.

Is eToro good or bad?

According to some of the 25 million users who use it every day, Etoro is good and not bad at all. Even if etoro is considered good, it must be remembered that the risks associated with the investment remain present.

How many people lose money with eToro?

The most current statistics presented by the same etoro site report that 78% of those who use it to trade CFDs lose money.
It should be noted that there are CFD trading and non-CFD products on eToro.

Has anyone made money on eToro?

To find out exactly how many people have made money with etoro, just look at the statistics of the top traders. In fact, on etoro you can leave your investment portfolio visible to all other users. In this way you can compare the earnings statistics of the top traders.

Can I lose everything with eToro?

È possibile perdere tutti i soldi depositati su eToro facendo investimenti sbagliati, ma la perdita si limita a quelli. In accordance with the eToro negative balance protection policy, they will absorb any losses users incur so that investors losses can never exceed the amount of funds deposited in their eToro account.

Should I trust eToro?

Yes you can trust eToro because it has over 25 million users worldwide, it holds licenses to safeguard client funds and offer brokerage services across multiple countries. Established in 2007, eToro operates under the regulations of two tier-1 jurisdictions and one tier-2 jurisdiction, ensuring a secure and low-risk environment for forex and CFD trading.

Is eToro good for long term investment?

Yes, eToro can be considered safe for long term investments. eToro used to primarily operate as a CFDs and copy trading broker, which made it less suitable for long-term investors. However, the company has undergone significant changes by expanding its business model. In recent times, eToro has introduced real stock trading and the inclusion of ETFs (exchange traded securities), going beyond their previous focus on CFDs. Copy trading is a portfolio management service.

Is it safe to keep money on eToro?

Yes, eToro is a safe place where to keep money. This is because eToro adheres to FCA, CySEC, and ASIC regulations, ensuring investor protection. Funds belonging to our clients are securely held in top-tier banks, and their personal information is safeguarded using SSL encryption.

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44 thoughts on “Is eToro Legit or Scam? Why Bad Reviews ⭕️ My 11.721€ Experience)

  1. cole says:

    HEY MATE! Thanks for writing this, I didn’t know your blog.
    That tweet on “survive trading” you wrote above is just amazing.
    “If by grace of god you survive trading….”
    ✅ I’ve tweeted it to all my friends and signed up to your newsletter right now

    • True from Revenue Land says:

      Hi Pascal! Safety is a relative concept. eToro itself can be used in different ways. I love online trading but I’ve found direct loans investing a great way to lower my exposition to the ups and downs of my stock market portfolio. More loans + less stocks and bonds = my balance

    • Sal from Revenue Land says:

      Most people do not get the power behind social trading because they suspect a scam.
      ⭕️ I signed up on eToro first to check what other traders were doing (free), then to copy some of their moves.
      My first deposit was just 500€.
      I’ve learned a lot, while I was studying tecnical analysis.

  2. carlosorts says:

    Some people cannot use eToro, others make lots of money every month. It is always the same old story.

    • Sal from Revenue Land says:

      ⭕️ If I were a beginner I’d definitely register to do some copytrading.
      I’d not dare to start out with do-it-yourself.
      There are good traders to copy out there, way not to take advantage of it?
      If I copy a good trader I have more chances to eran money from my investment compared to DIY without knowledge.

  3. Mark says:

    A new point of view. Thanks, I’ve just started on eToro and it is actually very easy to navigate. I’ll write you I private

    • Sal from Revenue Land says:

      ⭕️ Not everything is good on this platform. It’s all written above in the article.
      I’ve tried to write an honest bad review dirette especially to those who are starting with online trading and have little knowledge.

  4. rodriguez says:

    avoid etoro, high exit commission. I am checking this P2P Lending you talk about. How do I get more details?

  5. margaret says:

    i’m a living testimony he changed my financial life and today i earn $1,000 on a weekly basis

  6. Death says:

    Thank you for sharing your info. I truly appreciate your efforts and I am
    waiting for your further post thanks once again.

  7. Bogdan says:

    Hello Sal,

    Great work, I get a lot of useful information from your site!
    I was wondering if you can recommend any online resource on how to make good use of eToro?

    Many thanks,
    Bogdan

    • Sal from Revenue Land says:

      Hi Bogdan, happy you find my website useful.
      The best resource is you when looking for information. Trust yourself first.
      For me the best way to use eToro is to copy other traders.
      I can tell you what I did when I wanted to find the best trader on eToro.
      I go to “people”, I set “last 2 years”, I set “risk score 1 to 4”.
      Traders like “Myhungetoro” for example have a risk score of 3 and shows a simple but cheap portfolio. It is not the only one, don’t trust me, there are dozen of good traders.
      I’d prefer to copy people who trade ETF and stocks.
      The investment to make a test is reasonable and there is a chance to learn a lot because they normally explain the moves.
      Enjoy it.

  8. Bogdan says:

    Hey Sal,

    Thanks a lot for your website and newsletter, I get a lot of useful information from these!
    I was wondering if you could recommend a good online resource for making good use of eToro?
    As you guessed I’m a beginner in investing and I would not want to make stupid mistakes.

  9. Mat says:

    I am copytrading now and it works like a charm.
    When i first started I bought random stocks. Needlesss to say, I did not know what I was doing.
    eToro will push you to buy CFD and cripto. Not sure if it is a good idea.
    Now is fine. I copy the full portfolios and some good top trader in ETF

  10. 3James says:

    eToro is good for copy but a bit expensive for cryptos. I am making money with it by copying the popular traders and that’s all

  11. MadJoseph says:

    Correct Etoro review. I was using it when it was launched but now it is better and cheaper.

  12. Tom says:

    I can’t complain about etoro, it is a legittimare service and I am doing well even if the markets are going down

  13. Linda Hannover says:

    From my experience I can tell that eToro is safe to use. There are commissions to trade CFD and crypto trading can get expensive, but I can guarantee eToro is a safe website.

  14. Keith says:

    eToro is the best for social trading because it has millions of investors to spy on.
    Is it safe? I think so.

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