Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Regulators: CySEC, FCA, ASIC
Best for: Social trading
Based in Tel Aviv, Israel, eToro was founded in 2006 by two brothers, Ronen and Yoni Assia and partner David Ring. The brokerage was founded with the vision of a popular financial trading and investment platform suitable for everyone. eToro has grown significantly since its founding and is currently ranked among the top social trading networks, as well as an online forex broker.
As far as oversight and regulation is concerned, eToro (Europe) Ltd. is based in Limassol, Cyprus and is a registered Cypriot Investment Firm or CIF, registered under the number HE200585. The company is regulated by the Cyprus Securities and Exchange Commission or CySEC under license number 109/10.
In the United Kingdom, eToro (UK) Ltd. is headquartered in London and is a registered UK firm under registration number 7973792. eToro UK is authorized and regulated by the Financial Conduct Authority or FCA under the firm reference number 583263. Both eToro (UK) Ltd. and eToro (Europe) Ltd. comply and operate under the Markets in Financial Instruments Directive or MiFID.
eToro currently has more than 5 million users in over 170 countries. The company’s clients have access to trade in currencies, indices, CFDs and commodities. eToro’s online platform attracts thousands of new accounts every day as one of the world’s premiere social investment networks.
eToro launched its social investment platform “OpenBook” in 2010, along with the company’s “CopyTrading” feature. In 2010, eToro launched its first Android apps to enable investors to make trades over their mobile devices. These innovative platforms allowed investors to watch, follow and copy the top traders in the network automatically, and they have now been replaced with an updated all-in-one eToro platform that is also available on Android.