Introduction to eToro Review:

The forex market is a large market trading. A lot of investors and traders rely upon the trading option to increase their funds and grow their investments. The growing popularity of the forex market also brings numerous forex scams. These scams are often done by the illegal forex brokers that exist in the market with the objective of doing fraud with the traders, making them lose all their funds. the traders must always keep an eye on the red flags in order to prevent themselves from being lured. Let’s have a look at the eToro and know if eToro is a scam or legit.

eToro was founded in 2006 with a motive to serve the traders at all levels. They offer easy and convenient trading tools for investors. It claims to be a multi assets platform dealing in commodities, cryptocurrencies, forex, indices, and ETFs, which makes this online trading platform easy for traders. In 2013 eToro expanded its portfolio of cryptocurrencies. It also introduced a trading platform that was easy to use for both the new and experienced traders. Coming upon the legitimacy of the broker, researchers suggest that it is regulated by CySEC (Cyprus), FCA (UK), and ASIC (Australia). It is a social trading community dealing majorly with CFD assets. It is also said that eToro offers live and demo accounts with advanced trading options. This online platform offers a vast number of financial assets for trading and investment.

eToro does not offer the Meta Trader4 platform, making it one of a drawback as MT4 is one of the most widely used trading platforms by forex brokers. Some investors think it is an eToro scam but, it can be said that eToro is a reliable option for investing and trading. It is continuously involved in the creation and innovation of broking technology to make trading an easier option for traders.

Accounts, Leverage, and Spreads:

eToro offers two accounts that are retail and pro. These accounts are for investors of different kinds, where retail accounts have maximum trading leverage of 1:30. Professional clients enjoy unlimited leverage after passing the Professional Client Condition Test. The minimum spread starts from 0.9 pips for EURUSD and is different for different commodities.

Deposits and Withdrawal:

The minimum deposit starts from $50-$200 and is different in different regions. Here, the transfer of money can take place through various modes such as VISA, MasterCard, PayPal, NETELLER, Web Money, Skrill, etc. However, it charges some amount as the processing fees for withdrawal.

Is eToro Legit or Scam?

It can be concluded that eToro is a legit broker, that can be trusted upon. Approved by the state-level regulators, eToro is a secure and reliable broker with well-defined goodwill in the forex broker market. Not only it has gained good reviews from the top investors, but also has been rewarded with various reputational magazines. It offers you to join the leading group of crypto brokers. Trading with a legit firm is always a good option in order to increase your investment. Numerous trading opportunities exist in the market and one should always go with the broker that is truly legit and will not deceive their clients.

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