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Have you ever heard people say eToro is a scam? Well, today, we’re diving deep into these claims to separate fact from fiction! If you’re thinking of using eToro for trading, stick around because I’ve got some crucial insights for you!
So, why do some people call eToro a scam? The truth is, many traders who make these accusations either lost money due to their own mistakes or failed to understand how the platform works. But does that mean eToro itself is fraudulent? Absolutely not! Let’s take a closer look at what eToro is really about.
eToro is a multi-asset trading platform that allows users to trade forex, stocks, commodities, cryptocurrencies, indices, and ETFs. One of its most popular features is copy trading, where users can replicate the trades of experienced investors. eToro also offers a digital wallet called eToro Wallet.
The company is registered under eToro Group Limited and has subsidiaries in the UK, USA, Australia, Europe, and more. With headquarters in Seychelles, it operates in multiple locations, including Sweden, Israel, and Hong Kong.
Now, let’s talk about one of the biggest trust factors: Regulation. eToro is licensed and regulated by multiple top-tier financial authorities, including:
1. The Financial Conduct Authority in the UK.
2. The Australian Securities and Investment Commission.
3. The Cyprus Securities and Exchange Commission.
4. The Seychelles Financial Services Authority.
5. The Financial Services Regulatory Authority of Abu Dhabi in the United Arabs Emirates.
This level of regulation proves that eToro operates under strict guidelines and is legally compliant. You can even verify their licenses on the official websites of these regulators!
Another strong reason eToro isn’t a scam is its recognition by respected financial platforms. In 2024, Investopedia rated eToro 4.3 stars, calling it the best platform for cryptocurrency trading. And in February 2025, Forbes ranked it 6th among the Best Online Brokers, even ahead of Robinhood!
What’s more, many traders on forums like Reddit also confirm that eToro is legitimate. So, while every platform has its critics, real users confirm that eToro is a trustworthy broker!
Now, let’s talk about fees, commissions, and other charges.
Unlike many brokers, eToro does NOT charge fees on certain assets, like US and European stocks or many ETFs. Instead, they make money through spreads and commissions on CFDs, forex, and cryptocurrencies. They also generate revenue from currency conversion fees, withdrawal fees, and inactive account fees.
Overall, their fees are competitive, but traders should be aware of these charges before investing.
So, is eToro a scam?
Absolutely NOT. It’s a legitimate, well-regulated broker that’s been in business for over 18 years! However, like any trading platform, it’s important to understand the risks and fees before investing.
If you’ve been scammed by an actual fraudulent broker, click on the link below this video to report the incident and seek help.
If you found this video helpful, hit that like button, subscribe, and turn on notifications so you never miss an update on scam alerts and trading insights. See you in the next video!
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