​ Etoro - SOCIAL NETWORK PLATFORM FOR INVESTMENT.

eToro is a social trading and multi-asset brokerage company that has registered offices in Cyprus, Israel, and United Kingdom.

Founded in 2007, eToro has more than 17 million users in approximately 100 countries. It has both manual trading and social trading features. Social trading enables their clients to follow the financial trading activity of other clients, and use CopyTrader system to replicate everything they do in real-time. To support this process, the eToro platform displays each client’s relevant data, such as gain percentage, risk score and etc.

For those who trade manually, eToro provides a selection of stocks, currencies, commodities, cryptocurrencies, ETFs, and indices through its own trading platform.

eToro is a highly regarded brokerage regulated by the Financial Conduct Authority (FCA), The Australian Securities and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). By the way, eToro’s status in the International Financial Services Commission (IFSC) was revoked. For more information visit the website of WikiFX.

Our investigation staff visited the company according to the address mentioned by regulatory. After that visit, the investigation staff gave the survey summary according to which the company eToro was well located and all the documents have existed.

However, we have the purpose to ascertain whether eToro operates in full transparency, maybe it presents their data or services in such a way as to purposely scam investors and, especially beginners.

Via the WikiFX app we got a lot of exposures from our clients about this brokerage company and according to that data mentioned 5 risk items:

1. The number of complaints received by WikiFX has reached 20 for this broker in the past 3 months!

2. The number of this brokers’ negative field survey reviews has reached 1!

3. Belize IFSC (license number: Unreleased) The regulatory status is abnormal, the official regulatory status is Revoked!

4. The Belize IFSC regulatory with license number: Unreleased is an offshore regulatory!

5. Current data shows that this broker is using Non-MT4/5 Software.

Summarizing all this information, please, be aware of the risk of using the service which provides eToro Brokerage company.

And if you have some information about scams, please, don’t be silent, visit the website or app of the WikiFX and leave your exposure. Be sure that, our staff will review your exposure and give you feedback within 3-5 working days.

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