Is eToro Legit?

Jeremy BiberdorfBy: Jeremy Biberdorf

May 7, 2023May 7, 2023

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As an investor, one of the most crucial aspects of managing your portfolio is choosing the right trading platform to invest your money. With the plethora of online trading platforms available, it can be challenging to determine which one is legitimate and trustworthy.

eToro is one such platform that has gained popularity among investors worldwide. But is eToro legit? In this article, we’ll take a closer look at eToro, its features, and user reviews to determine if it’s a reliable trading platform worth considering.
Learn More About eToro

Company Background

eToro, a leading global trading and investment platform, was founded in 2007 by Yoni Assia, Ronen Assia, and David Ring. The company is headquartered in Tel Aviv, Israel, and has additional offices in Cyprus, the United Kingdom, the United States, and Australia. eToro’s innovative approach to social trading has made it a popular choice among traders and investors worldwide.

Initially, eToro started as a platform that aimed to make trading more accessible to the masses, offering a user-friendly interface and a wide range of educational tools. Over time, eToro expanded its offerings to include social trading, which allows users to follow and replicate the trades of top-performing traders on the platform, creating a more engaging and collaborative experience. Today, eToro provides access to various financial instruments, including stocks, commodities, indices, currencies, and cryptocurrencies.

eToro is regulated by multiple financial authorities worldwide, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the United Kingdom, and the Australian Securities and Investments Commission (ASIC). The company’s regulatory compliance ensures the protection of its users’ investments and adherence to the highest industry standards.

Over the years, eToro has attracted millions of registered users, and its success has resulted in significant venture capital investments. The company has continuously evolved, integrating innovative features and expanding its product offerings to stay ahead of the competition in the fast-paced world of online trading.

Features and Benefits

  • Social Trading: eToro’s social trading feature allows users to follow and copy the trades of successful investors. This enables less experienced traders to learn from and emulate the strategies of more experienced investors.
  • User-Friendly Interface: eToro’s platform is designed to be user-friendly and easy to navigate, even for beginners. The platform offers a range of tools and features to help users make informed investment decisions.
  • Wide Range of Investment Options: eToro offers a diverse range of assets to invest in, including stocks, cryptocurrencies, commodities, ETFs, and more. This allows users to create a diversified investment portfolio on a single platform.
  • Educational Resources: eToro provides a wealth of educational resources, such as webinars, articles, and video tutorials, to help users improve their investing skills and knowledge.
  • Dedicated Account Manager: eToro offers users a dedicated account manager for personalized support and assistance with any queries or issues.

Customer Reviews

eToro has earned an impressive TrustScore of 4.5 out of 5 on Trustpilot, based on over 19,000 customer reviews. Users commend the platform for its user-friendly interface, social trading features, diverse range of investment options, and exceptional customer support.

Many reviewers appreciate the platform’s continuous improvements and the value of having a dedicated account manager. Users also highlight the informative webinars and educational resources available on the platform.

These reviews suggest that eToro is a legitimate and reliable trading platform that can help investors manage their portfolios effectively and make informed investment decisions.

“I am relatively new to investing with time limitations due to work and travel. There are many aspects of the platform I find really helpful – its very user-friendly, continually diversifying the range of assets/products on offer incl ISA now, amazing weekly webinars, and excellent support from my account manager Tom Williams. Tom is very responsive, highly knowledgeable, and the regular catch-up reviews I find to be very helpful. Great job!”
“I find the site user-friendly and welcome the improvements that are continually being made to give an altogether better experience than most other exchanges. I find eToro to listen and act upon any requests or concerns. The benefits of having a dedicated Manager {Valentina Reingold} are priceless.”

Final Thoughts – Is eToro Legit?

eToro is a legitimate and trustworthy trading platform that has proven its reliability over the years. The company is regulated by multiple financial authorities, ensuring the protection of its users’ investments and compliance with the highest industry standards.

eToro’s innovative social trading features, user-friendly interface, diverse range of investment options, and a wealth of educational resources make it an attractive option for both new and experienced investors. The positive customer reviews and high TrustScore on Trustpilot further reinforce the platform’s credibility and reliability.

Considering all these factors, eToro is not only legit but also worth considering as a platform to manage your investment portfolio effectively. Click here to get started with eToro today!

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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