Is etoro insured?

Your cryptocurrency on etoro is not insured. eToro USA offers trading through its main trading application, where customers can buy stocks, exchange-. When you buy cryptocurrency on the eToro trading platform, they use an automated system based on consolidated cryptocurrency accounts to buy the real asset. You can review the profiles of other eToro traders and check their previous performance on an annual and monthly basis.

eToro used to be mainly a CFD broker that allowed you to trade stocks and ETFs also in the form of CFDs, if you established a leverage greater than one. On the other hand, we received feedback from users that eToro usually takes up to 14 days to respond in more complex cases, which we believe is an extremely poor service. All of the above seems to suggest that, while eToro is great for stock traders, for long-term investors it may not be the best option. This is because eToro deducts the default US dividend tax of 30%, instead of the conventional tax rate, which most other brokers usually deduct.

In addition, since eToro holds shares on behalf of its users as effective owners, users do not currently have the right to vote on the shares they own. eToro does not charge deposit fees, but has currency conversion fees that can be high; for example, up to 1.4% for depositing EUR with a card. The testimonials contained in this communication may not be representative of the experience of other eToro clients and such testimonials do not guarantee future performance or success. Since there are only USD accounts available on eToro, you'll have to pay a high conversion fee if you deposit or withdraw in a currency other than the USD.

eToro is a well-known multinational social trading platform and financial technology company from Israel, which focuses on copy trading and financial services. You can search for traders and other users on the eToro network and check the historical performance of your portfolio. eToro obtains most of its money (87%) through a typical brokerage industry process known as the market creation model. eToro charges between 1% (bitcoin) and 5% for trading cryptocurrencies, depending on the asset you are trading.

While it started with currency trading, eToro has become a platform used by millions of traders in more than 140 countries.

Carl Brown
Carl Brown

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