Is eToro safe?
- Fee on a $1,000 buy
- $10by bank transfer
- Bank withdrawal time
- 7-day hold, then up to 2 days
- Coins
- 113
In the US, customers of eToro use eToro USA LLC, or eToro NY LLC for New York. The company holds a New York licence. No FDIC insurance applies to crypto held on eToro. Its record includes 1 dated incident, with sources provided.
eToro registrations and licences
In the US, eToro USA LLC, or eToro NY LLC for New York, runs eToro's business.
Its registration with FinCEN identifies it as a money services business, according to eToro.
NYDFS grants eToro a New York licence or charter.
eToro's state licences appear on its licences page.
Has eToro suffered a hack? Enforcement and incidents
Every eToro incident includes a link to its regulator or company statement.
| Date | What happened | Source |
|---|---|---|
| September 12, 2024 | eToro USA LLC paid $1.5 million to settle with the SEC for operating an unregistered crypto asset broker and clearing agency. US crypto trading is limited to a few assets. | sec.gov |
The way your money is held
The pages we read don't include any proof-of-reserves attestation published by eToro.
eToro says it segregates client cryptoassets and combines cold and hot storage through regulated custody providers.
To access accounts, eToro requires two-factor authentication.
eToro text scams and other scams targeting users
Never share your eToro password or any 2FA code. If a text or call tells you to move funds to a "safe wallet", don't do it. Use only eToro's app or website to reach it.
Does eToro have FDIC insurance?
According to eToro, client funds have FDIC and SIPC insurance, up to $500,000, including up to $250,000 in cash. Crypto isn't covered.
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Open a eToro accountFurther information about eToro
Common questions
Is eToro legitimate or not?
eToro is a real business. In the US, customers deal with eToro USA LLC, with eToro NY LLC for New York. This page lists eToro's 1 dated incident with sources.
Does FDIC insurance cover crypto on eToro?
Crypto isn't covered. According to eToro, client funds have FDIC and SIPC insurance, up to $500,000, including up to $250,000 in cash. Crypto isn't included.
What should I do if I receive an eToro code that I didn't request?
View it as a warning. Never share your eToro password or any 2FA code. If a text or call tells you to move funds to a "safe wallet", don't do it. Use only eToro's app or website to reach it.