eToro is headquartered in Tel Aviv, Israel and became popular with its social trading feature.
eToro is registered as a Cypriot Investment Firm of CIF under the number HE200585 and regulated under CySec, the Cyprus Securities & Exchange Commission.
The license number is 109/10. eToro’s European base is also in Cyprus, specifically in Limassol. And in the UK, the broker’s headquarters are in London. Over there, it is also registered as a UK firm under the number 7973792 and regulated by the FCA or Financial Conduct Authority.
Is eToro Available in the UK?
Yes. eToro accept traders from the UK.
In fact, the UK is one of the markets they focus most on. They even have offices in the UK, located at this address: eToro (UK) Ltd. 24th floor, One Canada Square Canary Wharf London, E14 5AB.
At present, eToro is used by over 20 million traders from over 100 countries (60%+ are from Europe).
The list of available trading assets include currencies, commodities, CFDs, and indices, and the platform on which it is all down has literally thousands of new accounts being opened on a daily basis. However, eToro is not an active broker in the United States is not an option for traders that are based there.
“OpenBook” is eToro’s social investment platform and it was launched in 2010 coincidentally with “CopyTrading”.
2010 also saw the launch of the broker’s Android app so traders could now access their account and trade on their mobile phone or tablet. The traders could utilize these features to keenly observe how the most successful traders playing and feed off of that. However, these features have now been swapped for an all-encompassing platform which is still accessible on your android device.
Features of eToro UK
eToro retains a brilliant program for education as well as an all accepting platform for trade.
But what is even more special than that it has one of the world’s largest financial trading communities online. Whereas “OpenBook” and “WebTrader” had a good run as the company’s trading platforms, they were recently replaced by a more efficient all-inclusive platform that can be accessed from any sort of device.
The minimum first deposit for opening a live account with eToro is variable depending which country and specific region a trader is based.
The figure can be anywhere from $50 to $1000. There is a practice account available as well which you can sign up for at no cost whatsoever. The practice account offers a useful insight into the workings of the platform with virtual money and no funding required. Additionally, eToro also offers an Islamic accounts.
eToro does not charge any commissions on executed trades, much like other high-end forex brokers. As compensation, the broker slightly expands the spread.
eToro’s original trading platform was rather primitive, aimed at novice inexperienced traders. But it has steadily graduated to the award-winning platform that is now, accessible on both your Android and iOS devices. You can download eToro’s App from Google Play or the iOS App Store.
Deposits and withdrawals
eToro trades on US currency only, therefore converting any deposit made in another currency as it is received. There is a convenient number of option with which you can open a live account with eToro. We have listed them below:
- Diner’s Club credit
- Debit cards
- Bank wire transfer
- Skrill Limited UK
- China Union Pay
- Webmoney UK
Customer support for traders is available 24 hours a day, five days a week from Monday to Friday. Communication is possible via telephone or email. The official email response time is 48 hours.
There does not seem to be a live chat option but there is a customizable digital customer service from a company called “Nano Rep”. There is also a “Customer Service Wall” so that customers can communicate with customer services in a sort of forum.
Usually, any inquiries are manageable with the use of online guides but if a client requests direct communication with a representative, that will be arranged in a short while.
You can choose which representative you would like to speak to by clicking on their photograph where there will be a brief bio description included as well. You can communicate either in English, French, Spanish, German, or Italian.
Besides being regulated by authorities like the FCS and CySEC, we know for a fact that eToro preserves customer information safe and secure by using an updated Secure Socket Layer or SSL to authenticate data transfers and users. It is part of the reason, why the broker is so successful and reputed in forex trading circles.
eToro is very popular among stocks and forex traders.
With its new, all-inclusive trading and social investment platform, it is highly efficient and accessible on your mobile devices as well as your computer. And it caters very well to young and inexperienced traders with its numerous education programs.
The only criticisms we have so far are the lack of an online chat system and the 5-day wait on the withdrawal process. But apart from that, a very good broker indeed.