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eToro Reviews: SCAM or LEGIT?

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eToro is a financial brokerage and social trading company that was founded by three entrepreneurs who wanted to make a great change to the world of trading. In January 2007, brothers Yoni Assia and Ronen Assia along with David Ring founded the company in Tel Aviv, Israel. Their mission is to make trading accessible to anyone and anywhere. Initially known as RetailFX, the company introduced OpenBook in July 2010. OpenBook is the world first social trading platform, made famous by its CopyTrading feature, which allows traders to mimic the network's most successful traders and make money without having to actively trading on the platform. Thanks to this feature, the company won Finovate Europe Best of Show for 2011. In 2012, the company released their official trading app for both android and iOS. The company main headquarters is located in Tel Aviv.

Starting in July 2013, eToro began adding stocks to their multi assets trading platform. And in 2017, the company introduce crypto into their trading platform. Starting with Ethereum, Ripple, and Litecoin. The company is regulated and registered in many countries. It is regulated by the CySEC in the European Union region, the FCA in the United Kingdom, by FinCEN in the United States, and by the ASIC in Australia.

The trading platform currently supports a variety of crypto assets including Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Dash, Stellar Lumens, Neo, Eos, Cardano, IOTA, Zcash, Tron, Tezos, Uniswap, Chainlink, and Dogecoin. Please note that eToro has $50 minimum limit for depositing money and $25 minimum limit for trading. Traders who are living in the United States have their funds insured by FDIC up to $250,000. The platform has a different free structure than most other crypto exchanges. They charge no commission nor hidden fees, and earn revenue solely through spreads. The spreads fees are all different depends on which cryptocurrency traders trade. Some cryptocurrency-specific spreads fee are the following: Bitcoin 0.75%, Ethereum 1.90%, Bitcoin Cash 1.90%, and Ripple 2.45%.

eToro also has an exclusive club for professional traders and big investors. The club members enjoy various exclusive perks like expert support, early access to various new features, assets and other products, exclusive webinars, VIP events, dedicated account manager, and more. In order to join, a potential member needs to have at least $5,000 in equity for silver tier membership and more for higher tier levels.
 

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