eToro scam? Reviews and real opinions [September 2020]
eToro scam? This is the question that some readers have asked us and they have done well. We answer immediately: eToro (click here for the official website) is one of the best brokers for online trading currently available in Italian and is probably also one of the best brokers in the world. It is an absolutely safe broker, authorized and regulated by CONSOB so it is absolutely not a scam. Furthermore, it is a very popular broker for beginners because it offers the possibility of social trading. But let’s go in order.
Before moving on, though, why did we mention that the readers who asked us if eToro was a scam were right? Unfortunately, there have been many scams related to online trading in recent years. Verifying before you start trading online is one of the best ways to avoid painful surprises.
Among the fundamental features of eToro we must mention its great ease of use (even a beginner is able to start trading without any kind of obstacle) and its social trading platform.
In fact, eToro was the first broker to introduce the concept of social trading, that is, the ability to automatically copy other traders (possibly the best) and thus earn automatically.
The great thing about the social trading platform is that it guarantees very detailed information on the operations performed by traders in the past and therefore allows you to select exclusively here traders who really make money. It is no coincidence that eToro is considered one of the best forex brokers in the world.
But what do traders who get copied gain from it? Simple, they are rewarded based on success and the number of traders they are copied from. Many of these traders easily earn an additional € 10,000 per month , on top of normal trading profits of course.
This makes us understand how eToro is really a great deal, both for novice traders who can copy and for experts who, by agreeing to participate in the community, can earn lots of additional money.
Click here and open an account with eToro right away .
It is important to underline that for a trader who starts from scratch the advantage of using eToro is twofold: on the one hand he has the possibility of obtaining good results immediately with trading, without waiting to accumulate experience, on the other he can learn online trading. observing what the best do .
Probably watching the great traders is worth much more than taking a trading course and the results are visible!
It is important to deepen the functioning of social trading which is not a way to make easy money but a winning approach to the market which, however, requires a correct strategy to generate positive results.
All eToro traders have a profile, just like on social networks like Facebook. The profile can show (if the trader gives his authorization) data such as past profits or level of risk. Obviously the profile does not contain any type of personal information: in short, your name and surname will not be published. Some of the big eToro traders, the highest earners, have become famous and everyone knows their name but it was their choice.
eToro provides an excellent internal search engine that allows you to easily identify the traders who have earned the most in the past. Once discovered, these profiles can be analyzed to understand, for example, the level of associated risk or the markets preferred by that trader.
Thanks to this data, you can consciously choose which trader you should copy : just a simple click to start replicating all the operations of a professional trader!
Social trading strategy
Warning: many mistakenly think that thanks to social trading you can make easy money. Mistaken. Usually only scammers talk about easy money , those who want to get results with social trading must follow an appropriate strategy.
The optimal social trading strategy is based on diversification which is a cornerstone of finance. No trader, even the best, is infallible because no one is able to predict with absolute certainty the trend of the financial markets. For this reason, it is possible that even the best traders can make trades that close at a loss.
It is therefore advisable to select a good number of professional traders with high profits behind them: in this way, even if a trader’s operation closes in red, the operations of the others compensate for the losses and allow for an overall profit .
It is important to underline how it is very important to constantly monitor the performance of each trader you are copying : in this way you can identify traders who are making mistakes too often and eliminate them from the list of copied traders. At the same time, it is always advisable to check if some other good trader who is worth copying has not signed up on the platform.
In short, very good results can be achieved but it takes commitment and a right strategy.
Click here to start social trading with eToro .
eToro scam 2020
But why did someone say that eToro is a scam ? It is authorized by CONSOB, it is safe and reliable, it guarantees 100% customers’ money. So? So the problem lies in the disappointed expectations of some unwary trader.
In 2010, when eToro launched the new social trading platform in a big way, there were naive traders who literally thought that it was enough to open an account to become a millionaire . Not so, of course, no one becomes a millionaire without doing anything.
Obviously these traders were deeply disappointed that they did not get rich and started writing on the forums that eToro scam. But, looking well on the forums, there are also many testimonies of people who have earned good money with eToro.
Nobody has become a millionaire with eToro, that’s for sure : also because those who become more experienced and accumulate huge capital with trading often then start using different platforms.
eToro is perfect for those with small or medium capital, you can start with a deposit of just 200 euros . Obviously if you have millions of euros to invest, eToro is not the right platform for you. If you have 200 or 1,000 or 10,000, probably yes …
Withdrawal from eToro
One of the most critical moments in the relationship between a trader and his broker is that of withdrawal . In some cases the broker refuses to authorize the withdrawal. The trader immediately thinks about the scam and is often right.
In the case of eToro we can say with certainty that there have never been cases of refused or blocked withdrawals. Traders always have the possibility to withdraw from eToro without restrictions and without blocks of any kind.
Furthermore, the withdrawal procedure is very streamlined, absolutely without wasting time or bureaucratic delays. eToro pays quickly, always and in any case.
This makes us understand once again, that eToro is not a scam .
Many traders consider commissions to be a real scam . Well, eToro is a completely free platform, which does not apply commissions of any kind and has no fixed costs: it only makes money with spreads that are extremely advantageous for customers.
Unfortunately, we cannot say the same thing for all online trading platforms , even the famous ones. Just go and check the commissions applied by Fineco (spoiler: they are high and fixed, to bring them down you need to make very high trading volumes and even so it is more convenient eToro).
eToro offers a free demo platform , unlimited and without restrictions. All you need is a free registration ( click here ) to access the demo.
The demo platform allows you to operate with virtual money, in order to experience social trading without any kind of risk. The demo is essential for many traders who start from scratch and have the ability to experiment with absolutely no risk.
We must point out that eToro is very transparent and honest with the demo: the demo is available to everyone, without any restrictions, without payments and obligations. Not all trading platforms are so honest, an extra element that helps us understand that the broker is absolutely not a scam but one of the most valuable resources that a beginner trader has at his disposal .
Before concluding our speech, let’s say that eToro was one of the first authorized brokers in Italy: CONSOB itself therefore immediately recognized that it is a serious and reliable broker and therefore it is not a scam.
And if some disappointed amateur trader or some sour competitor goes to the forums to write that eToro is a scam is another matter …
In any case, we remind you that eToro is completely in Italian , with the support that speaks Italian and that it is also available by telephone for Italian customers, 24 hours a day, 365 days a year. It’s worth opening an account, if you don’t have one, click here and open it now !
We shouldn’t be surprised that someone thinks eToro is a scam : there are those who think that the whole forex is a scam. Just google forex scam to realize that there are tons of individuals who think whole forex is a big scam. We know that this is not the case: forex is a financial market, not a scam.
That there are brokers who scam it is true, but they are not all. And among other things, recognizing brokers who cheat is easier than it seems: they are the ones who are not authorized, so the best guarantee is to always choose authorized forex brokers, such as eToro …
eToro reviews 2020
eToro Scam Opinions 2020
What are the 2020 opinions of the eToro online trading platform ? We have tried the online trading platform throughout the year and we can say that we can consider ourselves quite satisfied with this online trading broker, which has proved to be absolutely reliable and very easy to use.
One of the most common opinions is that the eToro online trading platform is very simple to use and therefore this rightly pushes many people (especially beginners but also experts) to register on the platform.
Read also: Opinions on eToro .
Because they like it so much
Thanks to copytrading it is possible to copy the trades of others without doing anything, even with the computer or smartphone turned off. This allows you to earn without any knowledge and above all without having to waste time in front of the screen, a professional will take care of that.
eToro is a technology broker , but with simplicity above all else. Our opinion is therefore that it is a valid broker (CONSOB registered and CYSEC regulated) absolutely reliable (fast withdrawals and deposits) and excellent for those who want to earn immediately (copytrading).
You can open a free account in a simple and safe way: click here and get started with eToro right away .
eToro is a simple and immediate platform that allows everyone to invest in shares , even with very limited capital, and above all without paying any type of commission.
The great merit of eToro, therefore, was that of finally bringing the general public closer to the stock market, until a few years ago the prerogative of very experienced investors with very high capital to invest.
What shares can you buy with eToro? Virtually all of them, both Italian and international. Once again, the broker proves to be a complete and reliable solution for investing in any financial market .
eToro Bitcoin and cryptocurrencies
Over the last year eToro has also established itself as the best platform for trading Bitcoin and cryptocurrencies : In a world like that of cryptocurrencies where scams (the real ones) are really widespread, it has allowed thousands of people to invest in Bitcoin and altcoin without any kind of risk.
To date, it is the best platform for cryptocurrency trading and provides:
- Bitcoin Cash
- Ethereum Classic
The tools made available to buy cryptocurrencies are truly exceptional: in a world where many think that Bitcoin is a scam , with eToro it is possible to buy Bitcoin without problems and you can also copy the strategy of the best investors.
Click here to buy Bitcoin with eToro .
All the main Italian sites dedicated to finance and trading have published reviews on eToro with more than positive tones.
These reviews especially highlight the great opportunity offered by eToro to automatically copy what the best traders in the world do.
In fact, there is no other automatic trading system that works so well and is above all truly accessible to everyone, even to those who have a tiny capital to invest and do not have any type of experience .
Alternatives to eToro
Are there any alternatives to eToro? Mind you, today there are many safe online trading platforms because they are authorized and regulated but few of these platforms are even simple and immediate to use for a beginner.
Probably the only trading platform that offers a service on par with eToro is ForexTB . ForexTB is also safe, trustworthy and honest.
ForexTB is loved by beginners because it offers a true expert to all members : this expert provides precise indications, so it helps beginners not to make mistakes. It must be said that ForexTB, unlike eToro, does not offer the possibility to copy the best traders and does not have any automatic trading system .
You can sign up on ForexTB by clicking here .
eToro is undoubtedly one of the best brokers for online trading in Europe. It is a platform that guarantees safety, reliability and ease of use. Many beginners of online trading use it for the ability to copy, in a completely automatic way, what the most experienced traders do.
You can register for free on eToro by clicking here .
You will have a free and unlimited demo platform, without any kind of constraint. If you want to invest real money, you can start with as little as 200 euros. Also in this case the platform is completely free, there are no costs or commissions of any kind .
All the eToro reviews you can find online are positive and illustrate its many benefits.What are eToro’s commissions?
eToro is a completely free broker, the commissions are 0.Is eToro safe?
Yes, eToro is a licensed and regulated broker with CONSOB registration, so it’s safe.What is the advantage of using eToro?
The ability to copy, in a completely automatic way, what the best traders do (Copytrading).Is it possible to use the demo?
Yes, eToro guarantees access to the demo platform for everyone, free of charge and without restrictions. You don’t even need to make a deposit to access the demo.Is it also suitable for the less experienced?
Yes, for the ability to automatically copy the best traders. In any case, there is also an excellent telephone assistance service that guides beginners step by step.