Look a broker up before you trust it

Ten quick answers

Does eToro hold a licence?
It does. eToro is supervised by CySEC, FCA, ASIC, FinCEN, and its licence number is FRN 583263. You can look that number up on the regulator's own public register.
How much do I need to open a eToro account?
eToro asks for a first deposit of at least $50. Certain account types may require more, so confirm the current amounts on the broker's official website.
Can I trust eToro with my money?
eToro has been trading since 2007 and is regulated by CySEC, FCA, ASIC, FinCEN. Before you deposit, check on the regulator's public register that the licence is still valid, and put in only money you can afford to risk on leveraged products.
Can US residents open an account with eToro?
Yes. People who live in the United States can sign up with eToro through its US-regulated entity.
How much leverage does eToro offer?
The highest leverage at eToro is 30:1 retail (EU). The limit for retail clients depends on where the account is regulated: under tier-1 regulators (FCA, ASIC, CySEC) it is lower than under offshore regulation.
Can I use MetaTrader 4 or MT5 with eToro?
No. eToro does not offer MetaTrader; it uses platforms it has built itself.
Which trading platforms can I use at eToro?
At eToro you trade through eToro web and mobile (no MT4/MT5). Where applicable, each of these comes in a desktop and a mobile version.
How quickly does eToro pay out withdrawals?
How long a eToro withdrawal takes depends on how you are paid: cards are usually handled the same day, e-wallets within 24 hours and bank wires in 1–5 business days. Your KYC verification has to be finished before any withdrawal.
Will eToro charge me for withdrawing?
As a rule, eToro makes no charge when you withdraw to the method you deposited with. A payment processor or bank may still add a fee of its own, which the broker does not control. The broker's payment terms give the current details.
Does eToro have a demo account?
Yes. eToro provides a demo account at no cost. It is loaded with virtual funds, so you can try the platform, practise your strategies and look around the available markets before you risk real money.