Investing in general, may it be investing in bitcoin, investing in stocks, investing in precious metals, or investing in yourself, is one of the best ways of making sure that you’ll reach your financial goals sometime in the future.
With that said, you might’ve been interested in investing in some assets, and you might’ve came across one of eToro’s advertisements on social media.
You were about to register an account, but thought— “is eToro a scam? Or is it actually safe and trusted?“.
With investing, you’re going to need to deposit money. Hence, it’s just reasonable for you to be skeptical and do your research first before knowing if a certain asset broker is actually safe and legitimate or not.
Fortunately for you, we’ve done the research, so you wouldn’t have to!
Now let us take a look at what we have found. But first, let us answer the question in the title first, to save you a bit of time.
Is eToro legitimate and trusted? or is it a scam?
eToro Ltd is a legitimate company, that has been founded and been operating since 2007. Yes, they’ve been existing and operating for more than a decade already, with today having millions and millions of users in over 140 countries. That itself is a very good sign for them being a legitimate business.
If you don’t have an eToro account yet, you can effortlessly register in just a few minutes here:
Disclaimer: 75% of retail CFD accounts lose money. Trade with caution.
On the other hand, if you want more information, carry on. We’ll dig deeper into the details.
Proof that eToro Ltd is a legitimate company
eToro Ltd’s licenses & regulation
It eToro actually regulated?
Yes. eToro Ltd is a registered and regulated company in Cyprus, Isreal, United Kingdom, United States, and Australia.
Instead of showing you screenshots(that could easily be cheated and manipulated), take a look at their filings yourself instead.
Here are the links to their registered filings:
- U.S. Securities and Exchange Commission
- Financial Conduct Authority (UK): eToro (UK) Ltd | Etoro (Europe) Limited
- Cyprus Securities and Exchange Commission
- Australian Securities & Investments Commission
While this itself should be enough proof that eToro is legitimate and regulated, we like to add two more “green flags” for the company anyway.
The publicity of the founders
One of eToro’s founders, Yoni Assia, is a very public person and likes taking part in podcast episodes, and likes talking at conferences.
Here are some of the talks with Yoni Assia:
- Yoni Assia (eToro) on The rise of the crypto asset | TNW Conference 2018
- Keynote by Yoni Assia, CEO, eToro – Barcelona Trading Conference 2019
- Yoni Assia, eToro – NOAH18 Tel Aviv
- A Conversation with Yoni Assia, CEO of eToro
- eToro Founder and CEO Yoni Assia on Financial Autonomy for the masses and the Great Transfer of Wealth
While the fact that Yonni Assia has been doing a good amount of talks doesn’t automatically make a company legitimate, it surely does gives us the peace of mind that the founders aren’t hiding from the public for some reason.
They’ve worked with big names
eToro has already worked with some big names like Alec Baldwin and Kristian Narn(Hodor of the Game of Thrones) on their advertisements.
Here are the YouTube videos if you’re interested:
- Alec Baldwin: Too Busy to Trade on Your Own? Discover Copy Trading on eToro™
- Kristian Narn: eToro presents: HODL (Featuring Kristian Nairn)
They’re pretty funny, too!
But, what about the negative feedback?
Throughout the years, eToro has had some nasty feedback from some of its users due to bad experience. From slow withdrawals in some months, and website downtime.
Though we have no doubt that occasional slow withdrawals and website downtime are bad things that we definitely wouldn’t want, based on our research, a lot of these complaints were mostly made by people last December 2017. Which most of us know, is the peak of the cryptocurrency bull market.
Since cryptocurrency publicity and prices were at its peak at that time, a lot of people flooded into cryptocurrency exchanges and brokers(eToro being one of them), and a good number of the exchanges and brokers couldn’t handle the sudden influx of new users; hence the delays with the withdrawals.
Also, let’s not forget that eToro, in the end, is a business, and occasionally, businesses also have their bad days. Heck, even other big websites have their downtimes too, even sites as big as YouTube!