Overview -eToro broker review:
eToro is one of the world’s finest Brokerage firms that offer trade in a variety of tradable instruments including CFDs and Forex. Founded in 2007, this UK-based company has more than 17 million users hailing from 100 different countries. In this review, we will be closely investigating the company and discuss the pros and cons in this eToro review.
About eToro broker:
In this section of the eToro review, we will review each one of the features offered by eToro.
The regulation is the most important part of any brokerage firm. To operate in the online finance market legally, the brokerage firm must have a license issued by the regulator of the country they are based in or the regulator of the country they are operating. in our case, eToro has a valid license from three of the top tier regulators around the world, namely, the Financial Conduct Authority (FCA) of the UK, the Australian Securities and Investment Commissions (ASIC) of Australia, and the Cyprus Securities and Exchange Commission (CySEC) of Cyprus. This gives us our first green flag for eToro broker in this eToro Review.
eToro Minimum Initial Deposit and other fees:
Minimum Initial Deposits are a common sign of scam brokers. The regulators advise against asking for a minimum initial deposit as it increases the risk of the trader suffering a loss. In our case, eToro demands a minimum initial deposit of $0. On top of this, eToro charges no fee for account maintenance and charges an amount of $0 for deposits as well. The withdrawal fee is $5 per withdrawal and eToro also charges a certain amount if the trader is inactive for a long period of time. This gives us yet another green flag for the eToro brokerage firm in this eToro review.
eToro Withdrawal methods and Support Languages:
Adding one more green flag to the list, eToro allows the trader to withdraw their funds in various ways. These ways include withdrawal to the credit card or debit card. They also allow deposits through a variety of ways such as credit cards, debit cards, electronic wallets, etc. The trading platform supports as many as 21 languages which include Spanish, Italian, English, Russian, Japanese, Chinese, etc.
eToro Demo account:
A demo account is a very important part of any brokerage firm for traders. The provision of a demo account lets the new traders get acquainted with the working of the company. It also helps them to try around some of the trade techniques that they want to use. eToro offers their customers a demo account which gives us yet another green flag in this eToro review.
Conclusion: Is eToro a scam or legit?
To sum up, all that has been said above, we can safely say that eToro is a legit broker. Despite a few cons here and there, eToro manages to impress us with all the green flags. We encourage our readers to trade with eToro and earn money through trading. Read more about scam brokers and legit brokers at our website.