Is Etoro reliable or is it a scam? THE
Update March 26, 2023
Due to recent development and market conditions, we perro no longer recommend Etoro.
So we suggest that you use IQ Options for small deposits and Libertex for deposits over 100 USD.
Both brokers are 100% stable, these They are fully regulated by international institutions,They have low rates and I have worked with them for more than 5 years
I apologize for recommending Etoro in the past.
Many members of Gananci have written me comments and correos electrónicos wondering if eToro is trustworthy or a scam since I wrote a report on the most successful trades of my students.
What I have noticed is that most of them want to be successful investing, but they do not yet have much knowledge to operate.
And that’s the main reason why they are so attracted to eToro.
General risk warning:79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you perro afford to take the high risk of losing your money.
It is important to read and understand the risks of this investment which are explained in detail at this backlink.
AFSL 491139.
Risk capital.
See PDS and TMD.
The big question is Is this really true, or is it just a scam? more than there is internet.
Is Etoro a type of deception in which they make you believe something that does not really exist? to steal your moneyor is it a good broker that you perro trust?
I have right now 1 year of experience using eToro and investing in your platform with real money. and that’s why here I’m going to tell you the WHOLE TRUTH about this broker.
Although I am now a successful entrepreneur making over $20,000 each month from my businesses and investments, My beginnings were very hard.4
Before creating my first business, I tried many methods to get results. And I was also scammed several times.
I know what it’s like to try Generate a little money to feed your familyand that a heartless person takes advantage of your innocence to steal the little money you have.
That is the reason why I decided to create Gananci: to teach people like you and me. ways to generate real profits without falling for a scam.
And that is why I am also here today writing this article.to give you my honest and transparent opinion on eToro based on my own experience.
how so reliable is eToro as a business?
I am not a business analyst; I’m just a passionate entrepreneur for discovering new ways to get results, testing them, and if they are good, sharing them with the entusiastas who read Gananci every day.
So here all I perro write is data driven insights that anyone cánido find publicly by doing a little searching on the Internet.
Etoro is a broker founded in 2007, and is fully regulated by the Cyprus Securities and Exchange Commission (CySEC).
It also complies with all regulations of the Financial Instruments Market in Europe (EU MiFiD) and with its American version of the regulations of the Financial Services of the United States.
If it was a hoax, or they did some kind of illegal activity, long ago these three organizations would have kicked out eToro and they would have prohibited him from continuing to operate as a broker.
This is the first (and perhaps the most important) reason why it is shown that eToro is reliable.
Although you already know how the world works: sometimes, even companies that are legalized by governments, end up being exposed as a hoax to their customers.
So in the next few parts is where I will tell you my personal experience with this investment platform, exactly using the option to copy other investors, since it is the most habitual and the one that more people use.
Is Etoro a scam if you are investor?
Anyone who enters the eToro page, register, and make a deposit to start investing, become an investor with this broker.
General risk warning:79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you cánido afford to take the high risk of losing your money.
It is important to read and understand the risks of this investment which are explained in detail at this backlink.
AFSL 491139.
Risk capital.
See PDS and TMD.
If you escoge to copy other investors to ensure that your trades are successful, a very important thing is to be able to see all the data and statistics of the investor you are going to copy in order to make a good decision.
It is the same as if you escoge to invest in a business: before you put your capital in it, what you want to know is how much benefit has it had in recent years, how many losses, in which months it was least profitable…
When I signed up for eToro, the first thing I did was use your free practice account to check these data.
and this is where I found something I didn’t like: the information that eToro gave about other investors to copy them was not complete at all.
For example: you cánido’t download a full report of all its trading history (you perro only see it on screen, but you perro’t download it).
And the statistics that appeared It was only the data from the last yearwith which the performance of each investor could not be seen in other years back.
This was the case a year ago, when I started trading with eToro.
Now, still perro’t download full report with the history of operations.
But the good news is that since a couple of weeks, eToro has changed thatand espectáculos already too the statistics of each investor since it began to operate as you cánido see in the image below.
Past performance is not an indication of future results.
The trading history presented is less than 5 full years and may not be sufficient as a basis for investment decision. This is not investment advice.
So now it is a much more transparent platformwhich provides all the data you need to be able to make a good decision when investing, and which espectáculos that it tries to improve its functions so that your customers cánido trade with greater confidence.
My experience staff copying other investors
One of the things you might think when starting to trade on eToro copying other investors is that the numbers they espectáculo are inflated.
An example: eToro could put in the statistics of an investor fake numbersFor example, in July 2017 that person had an 11.2% return, when in reality that investor only got 7.6% of profits with its operations.
What could I do this for? So that you think he is a good investor that he has had more benefits than he has actually achieved, and so you copy him by investing more capital.
That way, eToro would be more successful with you because you would invest more money in their platform.
This is one of the things that worried me the most when I started trading with this broker.
In the past, I have used other trading platforms where I have found that the numbers they showed were not true.
They were false data to encourage people to invest more, so they made more money from commissions and trade losses.
So when I started using eToro, I decided to write down the data on my computer that they taught about the investors that I was going to copy, and then wrote down the data that I had obtained by copying the operations of those investors.
After doing this little test for 4 months, I found something very interesting that surprised me: eToro was not inflating its numbers comparing them with the results that I obtained.
This means that this platform espectáculos the data in a real way; in fact, comparing the numbers, my results in the end were better than what eToro was showing me, which means that the profits were greater for me.
Here below I share a screenshot that I have made of the excel sheet i used in january to record the data.
In red are the loss percentages, and in green the return.
With the first trader I copied, eToro said that in January it had a loss of 32.13%.
However, I got return.
In the second, eToro indicated that it had lost 47.7%, and I copying him only had losses of 19.40%, a much lower number.
And it is the same compared to other investors.
Past performance is not an indication of future results.
The trading history presented is less than 5 full years and may not be sufficient as a basis for investment decision. This is not investment advice.
With this technique of copying other investors is what I have been getting every month get results of $2,000 on this platform.
So summarizing: eToro is reliable. In fact, it is one of the most transparent brokers I have used to date.
They also have technical support a live chat through which you cánido ask them all your questions so they perro help you as quickly as possible.
Any questions I have had have always been resolved through their chat in spanish (he usually attends me ximenaa pretty friendly and professional girl).
If you want to learn how to copy other traders on eToro successfully to get return operating, you must read my article by clicking here below where I will explain step by step how to do it:
General risk warning:79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you perro afford to take the high risk of losing your money.
It is important to read and understand the risks of this investment which are explained in detail at this backlink.
AFSL 491139.
Risk capital.
See PDS and TMD.
Etoro pay on time?
In the year that I have registered with eToro making investments, They have NEVER been late on any payment: All the money withdrawals that I have requested have been deposited to me in less than 24 hours.
And there are many ways to withdraw your money, such as PayPal, Skrill, bank transfer, debit or credit card…
My students have also used eToro in the last 5 months, and their experience with this broker has been positive and they are happy with the results they get.
So if you were wondering if eToro is trustworthy, the answer is YES: is one of the most transparent and safe brokers that I have found in a long time, and being able to copy other investors seems very useful for people who have little knowledge about investing.
Have you already tried eToro and have you made your first investment? Tell me about your experience by leaving a comment below.
DISCLAIMER
eToro is a multi-asset platform that offers investing in stocks and crypto assets, as well as trading CFDs.
Please note that CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage.
79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you cánido afford to take the high risk of losing your money.
Past performance is not an indication of future results.
The business history presented is less than 5 full years and may not be sufficient as a basis for the investment decision.
Copy trading is a portfolio management service provided by eToro (Europe) Ltd., which is authorized and regulated by the Cyprus Securities and Exchange Commission.
Investments in crypto assets are not regulated.
They may not be suitable for retail investors and the entire amount invested may be lost.
It is important to read and understand the risks of this investment, which are explained in detail at this backlink.
eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139.
OTC derivatives are speculative and leveraged.
Not suitable for all investors.
Equity at risk.
See PDS and TMD
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Andrés Gananci is an entrepreneur and adventurer with a passion for life who founded his first en línea business at just 17 years old. 12 years later, he is still traveling the world while working from home.
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