Is eToro Legit?

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Choosing a trustworthy broker is fundamental to an excellent online trading experience. eToro is a leading provider of social trading services, and it has licenses from the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). It has secure platforms and account authentication methods.

eToro XTB Trading 212
Banking backgroundNoNoNo
Broker listed on stock exchangeNoYesNo
Annual financial statements on websiteNoYesNo
Mobile two-step authenticationYesNoYes
Broker ownership transparencyNoYesNo
Broker management transparencyYesYesNo
Broker is audited by the Big FourNoYesNo

Each broker has strengths and weaknesses. This article answers the question, “Is eToro legit?”

Regulation & Investor Protection

The foundation of a broker’s trustworthiness is the top-tier regulation and investor protection programs. eToro is regulated in the UK, Cyprus, and Australia. It has licenses from the FCA and ASIC.

Country of regulation:UK, Cyprus, Australia
Investor protection amount:£85,000 for UK residents, €20,000 for non-UK residents

The FCA in the UK offers the Financial Services Compensation Scheme (FSCS) with protection for £85,000 for each covered account. The investor protection amount for non-UK residents is €20,000.

Additional areas that support the trustworthiness of a broker are banking background, stock exchange presence, transparent financial statements, two-step authentication (2fA), ownership transparency, and auditors.

Banking Background

A banking history adds to the safety of an online broker. eToro doesn’t have a banking background.

Transparent Financial Statements

Financial statements reveal insights about a brokerage firm’s practices. eToro doesn’t publish annual financial statements.

Two-Step Authentication

An online trading account must benefit from the best safety measures. eToro offers two-step authentication on all its platforms.

Ownership & Management Transparency

eToro displays the basics of its management structure on eToro doesn’t publicly share details about its ownership structure.

Big Four Auditors

The Big Four audit trustworthy online brokers. These auditors are KPMG, PWC, Deloitte, and EY. The Big Four do not audit eToro.

Final Verdict

eToro is a leading social trading broker with excellent services and platforms. It is a trustworthy broker with top-tier licenses. You should read our in-depth reviews to learn more about brokerage firms and safety features.

eToro compared to other brokers:

eToro review

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs 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. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.


The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.


All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.


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