This seems to be a recurring question for those looking to start investing in eToro.
The immediate answer is YES!
As mentioned above, this broker is under the supervision of three different regulatory bodies: The FCA in the UK, ASIC in Australia and CySEC across Europe.
CySec is the financial regulator based in Cyprus, where eToro is also based. It ensures that brokerages adhere to their own standards and „best practices“ in the financial world.
The idea is to give investors more confidence.
4.1 Can I use eToro in my country?
eToro is available in most Spanish speaking countries such as Mexico, Argentina, Chile, Venezuela, Colombia, Peru, Paraguay, Bolivia, Uruguay, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Dominican Republic and the United States.
eToro is not legally available in: Nicaragua and Cuba.
5. Opinions About eToro
Is eToro a legitimate broker, that gets an unfair reputation from some users. The experts from https://www.indexuniverse.eu/etoro/ say no, so lets see.
Throughout our review, we have not failed to notice that there are some negative online reviews of the platform’s operation.
However, from Cryptocurrency365’s perspective, many of these comments are due to a lack of understanding of eToro’s operating rules.
Also, as an ideal platform for beginners, many of those who choose it have little knowledge of trading and don’t spend enough time learning how it works before they start using real money.
This is something that, although not the responsibility of the platform, generates frustration and dissatisfaction reflected in some reviews.
Apart from that, eToro has a large base of satisfied users, as confirmed by the broker’s mobile app reviews in the app shops.
eToro App on Google Play Store
eToro App on Google Play Store.
This guide is a first step to getting started with eToro, but the platform provides tools that allow you to learn before you invest your capital.
Additionally, you can access the eToro Trading Academy, which has live Webinars, eCourses and trading videos.
6. Fees and Commissions
Margin rates vary from 0.75% (Bitcoin) to 6% (IOTA). Cryptocurrency CFDs still have overnight fees.
A full list of the rates charged by eToro can be found on the broker’s website.
It is important to mention that accounts that have been inactive for more than 12 months are subject to an inactivity fee.
This fee corresponds to a monthly value of 10 USD and will be cancelled as soon as you resume trading.