Is eToro regulated in the US?

eToro follows all SEC and FINRA regulations in the United States. The Terms and Conditions you agreed to during registration stipulated which entity and regulations are applicable to you.

Is eToro a regulated company?

All eToro entities are regulated by financial bodies established by governments or other organisations whose goal is to protect investors and promote stable and orderly financial markets. eToro is a licensed broker. We offer our services through four regulated eToro entities in more than 100 countries around the world.

Is eToro a US broker?

Limited service: EToro currently offers its crypto service in 46 U.S. states and Washington, D.C. While all U.S. residents can sign up for a free eToro account for virtual trading, eToro is currently unavailable for actual cryptocurrency trading for residents in Hawaii, Minnesota, Nevada and New York.

Who regulates eToro?

eToroX is authorised and regulated by the Gibraltar Financial Services Commission as a distributed ledger technology provider, with Financial Services Commission licence No. 1333B.

Is eToro regulated by FINRA?

eToro is authorized and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to offer stock trading services in the US. The broker is also licensed outside of the US market for added regulatory oversight.

Can US investors use eToro?

Any US resident may register and open an eToro account for free. If your state is not yet supported, sign up and get to know eToro using your virtual portfolio.

Does eToro report to IRS?

Currently, eToro issues Form 1099-MISC to customers who earn more than $600 of income during a tax year. eToro also issues 1099-B and 1099-K to customers. It's important to note that these tax forms may contain errors if you've transferred cryptocurrency into or out of eToro (more on this later).

Why eToro is not available in US?

For regulatory reasons, we cannot provide our service to US citizens who reside outside the USA. We do accept clients who reside in the United States. eToro is available in almost every state.

Should I use eToro or Robinhood?

Overall, eToro slightly edges out Robinhood because it offers more tools and research, and offers investors a trial run with a free Virtual Portfolio demo account.

What happens to my money if eToro goes bust?

This means that if eToro Money went into liquidation or bankruptcy, no third-party would have a claim over it and it would be returned to you. Please see our Terms and Conditions (can be found on https://www.etoro.com/money/) for further information.

Does eToro pay US tax?

Since eToro provides you with access to invest in US stocks, we are required by the IRS to pay those taxes, as opposed to the IRS going out and collecting it from non-US citizens.

Can I trust eToro with my money?

As it's not regulated in Malaysia you won't get the full protections with eToro as you might with a locally registered investment platform. Nonetheless, eToro is trusted by millions of people around the world, and is subject to regulations in a range of countries and regions, making it a popular pick.

Is Robinhood better than eToro?

Bottom line: eToro is the best choice for crypto-focused and community-oriented traders, as it offers more assets — including automated investing options like CopyPortfolios and the CopyTrader™ system. Robinhood, on the other hand, best suits active traders and options traders who value low fees and ease of use.

What happens if eToro goes bust?

This means that if eToro Money went into liquidation or bankruptcy, no third-party would have a claim over it and it would be returned to you. Please see our Terms and Conditions (can be found on https://www.etoro.com/money/) for further information.

Is my money safe on eToro?

Yes. eToro operates in accordance with FCA, CySEC and ASIC regulations, meaning that there are measures in place to protect investors. On eToro, our clients' funds are kept secure in top-tier banks and all of their personal information is guarded under SSL encryption.

Why can’t I withdraw all my money from eToro?

You have enough funds in your available balance

Only funds from your available balance can be withdrawn, not funds invested in open positions.

What is the downside to eToro?

If the trade goes wrong, you can end up owing money as well as losing your initial investment because contracts involve borrowing capital – 68% of retail investor accounts lose money when trading CFDs with eToro.

Is eToro or Coinbase better?

Generally speaking, users will find the widest selection of crypto options at Coinbase, but trading and transaction fees can be higher. EToro stands out for users who want guidance about their investments through the company's social investing feature, which offers the ability to copy trades made by other investors.

Should I trust eToro?

eToro is safe and secure: Always look for security signs on your browser before you trade. On eToro, clients' funds are kept secured in tier 1 banks, and all of their personal information is guarded under SSL encryption.

How safe is my money in eToro?

Yes. eToro operates in accordance with FCA, CySEC and ASIC regulations, meaning that there are measures in place to protect investors. On eToro, our clients' funds are kept secure in top-tier banks and all of their personal information is guarded under SSL encryption.

Is it safe to give eToro my SSN?

Rest assured, we always keep your personal information secure and private. eToro USA LLC is registered with the Financial Crimes Enforcement Network (“FinCEN”) as a Money Services Business (“MSB”).

Can you withdraw millions from eToro?

No problem! Customers may withdraw funds from their eToro account at any time. Funds can be withdrawn up to the value of the balance of your eToro account, minus the amount of margin used.

Can I trust eToro?

Is eToro a scam? No. eToro is a reputable company trusted by millions of users worldwide. We have been a leader in the fintech industry and online investing since 2007.

Which is better eToro or Robinhood?

Overall, eToro slightly edges out Robinhood because it offers more tools and research, and offers investors a trial run with a free Virtual Portfolio demo account.

Can you trust eToro?

Is eToro a scam? No. eToro is a reputable company trusted by millions of users worldwide. We have been a leader in the fintech industry and online investing since 2007.