Founded in Tel Aviv in 2007 and now with over 30 million users worldwide, eToro has made social trading and investing more mainstream. Its eToro platform is a regulated, user-friendly web and mobile app. It is backed by several top-tier regulators and covers traders up to PS85,000 in the event of insolvency.
The eToro Safety and Fees Review UK allows traders to mirror the trades of successful traders on the platform. This is a great option for those who are just getting started, as it saves time and effort by eliminating the need to research and analyze the market. It can also reduce the risk of making bad decisions by allowing you to replicate the trades of seasoned investors.
eToro Safety and Fees Review UK – What to Consider Before Signing Up
In addition to traditional trading, eToro’s platform supports CFDs (contracts for difference). These are risky derivatives that allow traders to speculate on the price movement of underlying assets, such as stocks and currencies, without owning the asset itself. eToro makes it easy to identify the percentage of CFDs in a portfolio, so users can be aware of the high level of risk associated with these instruments.
In terms of fees, eToro does not charge any commissions on open or close positions. However, it does charge currency conversion and withdrawal fees. These can add up over time and eat into profits. In addition, the platform’s heavy reliance on CFDs may not be suitable for all investors, as these can be illiquid and volatile.