Is eToro a scam?

No. eToro is not a scam, and the evidence for that is unusually easy to check.

It is a Nasdaq-listed public company, ticker ETOR, listed 14 May 2025, which means its accounts and its legal risks are filed with the US Securities and Exchange Commission where anyone can read them. Its Cyprus licence, 109/10, is on the CySEC register with a licence date of 14 January 2010 and www.etoro.com as its approved domain; we read that entry on 5 September 2026. Its UK entity, FRN 583263, is named in the FCA's own clone-firm warning as the genuine firm.

None of that is what a scam looks like. A scam broker has a licence number that belongs to a different company, or a regulator that does not supervise anyone, or no register entry at all.

What is worth being careful about

Clone sites. The FCA published a warning on 26 May 2022 about a firm using eToro's name. That warning exists because impersonation of eToro is a real and active problem. Type the domain yourself rather than following a link from a message, an advert or a social media post.

Which entity you sign up to. The FCA and CySEC licences cover UK and EU clients. Everyone else contracts with eToro (Seychelles) Ltd, where there is no compensation scheme. The protections in the marketing are real; they may not be yours. Read the footer on the account-opening page.

The open regulatory matters. ASIC has proceedings against eToro's Australian entity, commenced 3 August 2023, over the design and distribution of its CFD product. No penalty has been ordered. eToro's own SEC filing discloses that CySEC has open inquiries into product governance and suitability at the European entity. Neither is fraud. Both are live, and both are on the record.

Losing money is not being scammed. Most retail CFD accounts lose money. That is the product, not misconduct, and no verdict on this site changes it.

The full rating, the fee structure and the execution arrangement are in our eToro review.