Everything you need to know about eToro in UAE

Ebimo Dogubo
2
6K Views
Jun 07, 2021

eToro is a respected CySec-regulated online broker noted for its user-friendly platform, commission-free stock trading, quick account opening, and innovative social trading. They claim to be a scam-free zone and a trustworthy trading platform, But is this true? We will find out in this article and I will answer all your questions about eToro:

Is eToro available in UAE?
Is eToro trustworthy?
Can you make money on eToro?
Is eToro good for beginners?
Is eToro a pyramid scheme?

However, we'd like to introduce the author behind this magnificent masterpiece. The Watchtower, a prominent SEO agency in Dubai, a Mobile App Design Company in Dubai, and a Web Design Company in Dubai, enjoy educating its readers on practical methods to improve their everyday operations.

1. Is eToro available in UAE?

First and foremost, we receive several inquiries asking if eToro is available in the UAE. Yes, eToro is available to clients in the United Arab Emirates. Although it should be noted that it is not regulated locally (by neither the DFSA nor the ADGM), nor do they have a local office in Dubai (many foreigners inquire about eToro's local office).

2. Is eToro trustworthy?

Is eToro a Ponzi Scheme? But that is not the case–eToro is a legitimate company. They are a Cypriot Investment Firm-registered regulated brokerage (CIF). In Europe, they are governed by the Cyprus Securities and Exchange Commission, whereas in the United Kingdom, they are governed by the Financial Conduct Authority.

True. eToro complies with FCA, CySEC, and ASIC rules, which means that safeguards are in place to protect investors. The clients' money is kept safely in top-tier banks on eToro, and all of their personal information is protected by SSL encryption. As a result, your funds are secure with eToro.

Not all platforms are regulated, However, eToro is regulated. Regulations are in place to safeguard investors, so always trade on regulated platforms. eToro abides with the rules of the FCA, CySEC, and ASIC. eToro is a safe and secure platform: Before you trade, always check your browser for security indicators.

3. Can you make money on eToro?

Trading on eToro may be quite rewarding, but it's vital to remember that while dealing with markets, you may also lose money ("your capital may be at risk")! So, yes, you may make money on the eToro platform, but be aware that you might also lose money. Yes, it is possible to benefit from copy trading on sites such as eToro, but it is difficult and you should not expect to get wealthy overnight.

Remember, if anything appears to be too good to be true, it most often is eToro links independent traders (sometimes known as signal providers or popular investors) with investors who wish to delegate their trading choices. It's a basic commercial operation, therefore it may work. However, copy trading has dangers and is not a get-rich-quick plan, despite what the aggressive ads from platform providers may suggest.

The following are some disadvantages of this sort of activity:

It's difficult to locate skilled traders: The majority of traders on eToro are newcomers or hustlers looking to make some extra money through the famous investor's program.
The success of a popular investor may not be comparable to yours: differing price execution owing to time gaps (slippage) may result in different results.
Fees: You will be charged brokerage fees by the platform (eToro), which can be rather substantial if you are not careful. Before investing there, we urge that you conduct your homework on the costs.
The survivorship bias: Many new investors just emulate the most popular and well-known investors or those who have performed well. This is a common blunder. Remember that previous performance is not always predictive of future outcomes (it may have been a stroke of luck), therefore you should go deeper when studying the popular investors' performances.

Finally, we believe the social investment business has enormous potential. It is helping to democratize the investing business while also altering how people save, invest, and learn. We can only see it expand with the correct regulations and client education (this is critical). If you decide to begin copy trading, you should probably start with a demo account to see how it works. If it meets your expectations, you can proceed to try it with real money.

Are you gaining knowledge here? Such intriguing information is exclusively the responsibility of The Watchtower, a prominent SEO agency in Dubai, a Mobile App Design firm in Dubai, and Web Design in Dubai.

1. Is eToro good for beginners?

eToro is a broker that we can recommend for novices and beginners based on our rating system. Let's go over its services one by one, using the criteria we established, to gain a complete picture.

When it comes to its online platform, eToro may be appropriate for beginners: Simple to use. The report on fees is complete. Login using two steps (which is safer). Overall, this platform may be an excellent alternative for beginners.
eToro's mobile platform is relatively well-designed: Excellent search feature. This may be useful in the early stages of your trading career.
Fees are one of the most significant parts of trading, and eToro excels in certain areas: Low trading costs. Trading in free stocks and exchange-traded funds (ETFs). Fees for FX and CFDs are low. However, fees may be greater than those of rivals. Points for improvement: Non-trading costs are exorbitant.
When the account opening procedure is seamless from the start, it is ideal. eToro performs admirably in this regard: Quickly and Completely digital.
The minimum deposit is low, and there is a demo account available. The platform's introduction guide. eToro's educational resources, on the other hand, might be enhanced. Points for improvement: Simple informative videos.
Live chat is available. It also has a Fast response time. Relevant answers. eToro's customer support, on the other hand, may use some work: There is no phone support. There is no round-the-clock assistance. Quite often, live chat is unavailable.
For beginning traders, low minimum deposits and low-cost transactions are appealing. The deposit and withdrawal methods at eToro have various advantages: Credit and debit cards are accepted. There is no deposit cost. Simple to use. Nonetheless, its services might be enhanced in the following areas: There is just one account base currency. There is a $5 withdrawal charge. Non-USD deposits are subject to a conversion charge.

2. Is eToro a pyramid scheme?

eToro is not a fraud, but it is not a wise investment. While eToro has numerous intriguing features, its service offering has numerous flaws that should be avoided, most notably: CySEC has initiated regulatory action against eToro for failing to obey applicable legislation. The trading spreads on eToro are uncompetitive.

Background Information about eToro:

eToro is an online forex broker based in Limassol, Cyprus, and London, United Kingdom. The following companies are part of the eToro brand:
CySEC, the Cyprus Securities and Exchange Commission, regulates eToro (Europe) Ltd, which is situated in Cyprus.
The Financial Conduct Authority regulates eToro (UK) Ltd, which is situated in London, UK (FCA)

This forex broker evaluation only applies to eToro (Europe) Ltd, as trading with eToro (UK) Ltd is restricted to clients who are both UK nationals and have deposits of at least $20,000.

eToro was launched in Tel Aviv in 2006 as RetailFX. Its owners then rebranded it as eToro and added copy trading tools in 2010. eToro offers a wide range of CFDs for trading, including FX, equities, indices, commodities, and cryptocurrencies.

We hope you liked reading it and learned something new because that is our primary purpose. We will always give you outstanding site content as the top and award-winning SEO Agency Dubai, Mobile App Design firm in Dubai, and Web Development Company London.

Comments (2)

Lewis Mcgarry

Mar 21, 2024

After going through all the comments, I found some painful, while some were funny. My conclusion is that most people will still get scammed just because they cannot read in- between the lines. I had also been a victim in the past. Now I have a resident hacker who helped me recover my funds(85% guaranteed, not 100%). He also helps me vet any bitcoin investment i want to make. He gives me the go ahead or tells me to not make the investment, and so far, it had been worth it.. The truth is that only an hacker can know a bitcoin scam. You just have to make one your friend. In this digital world, like we have family Doctors, Lawyers that we put on retainers, i always advice people to have a trustworthy hacker on their side.. Reach him via; maldonadojason615@gmail.com. Thanks for your guideline’s which enabled me to have my funds back.

Penelope Barrows

Sep 25, 2023

I will forever be grateful to the team of hackers at REFUND POLICY after they successfully helped me recover $ 61 k worth of bitcoin that I had lost to a fake crypto investment platform I found on Facebook. I got really depressed and suicidal having lost such amount of money, I then discussed my predicament with my younger sibling who then introduced me to this hacker they went to college together. At first, I was reluctant to contact the hacker as I thought it will be impossible for the bitcoin I had sent to be recovered, but I am so glad that I did contact them because it was like magic after only 18-20hrs they were able to help me recover my lost bitcoin. They even told me that it took the long 18-20 hrs because the sc^mmers had moved the bitcoin from the wallet i paid to into another one. I will forever be grateful to REFUND POLICY, that’s why I am going to drop their contact details here incase anyone has been a victim of any crypto scam, it is not too late at all. Email: refund policy 82 at g mail dot com and their whats app is : + 1. 626. 770. 9574. Do not hesitate to get in touch with them.