eToro is the worlds leading social trading platform that gives you the option to invest in stocks, cryptocurrencies, ETFs, currencies, commodities, and indices.
You also have the ability to copy leading investors on the platform.
Table of Contents
- When did they start?
- Do we know the founders?
- How secure is it, is there 2FA, etc.?
- Is it insured, if not, is there a backup fund?
- What does the exchange focus on?
- What are the fees?
START AND FOUNDER
eToro was founded in 2006 in Tel Aviv, Israel, by brothers Yoni Assia and Ronen Assia, as well as David Ring.
The current CEO is Yoni Assia.
eToro has Headquarters in Cyprus, the United Kingdom, and Israel.
You have the option to enable 2FA, like Authy, or Google Authenticator.
You can also verify your identity, using a national ID card or a passport, and in case you lose access to your authenticator or your email, you can get the account back by proving your identity to them. However, preventing the problem is always a better idea.
eToro is registered in multiple countries, and the funds you hold on the website is fully insured.
The exchange has licenses to operate in their respective countries, and it is regulated by multiple Financial Authorities.
THE EXCHANGES FOCUS
eToro focuses on providing a beginner friendly, easy to use trading platform, for more than just cryptocurrencies.
You have the option to buy stocks like Amazon, commodities like oil, or currencies like the US Dollar.
The exchanges main goal, however, is to merge investing with social media. You have the ability to ask questions, comment on others opinion, or even follow successful traders.
Please note that past performance is not an indicator of future outcomes. Just like on any exchange, you should have solid risk management on eToro too. Copying the most successful trader does not mean that you will have similar results in the future too.
They have a zero percent fee for most cryptocurrencies; however, they have higher than average spreads, so you are paying your fees that way.
Spread is the difference between the lowest sell order and the highest buy order. It is also largely different for each asset.
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