TIER 1 · FCA · CySEC · MFSA · FSRA +6RBI ALERT LIST#21 of 66 international brokers

eToro review: the verdict.

Listed on the Reserve Bank of India Alert ListThe RBI lists eToro as not authorised to deal in forex or run a forex trading platform for Indian residents. Indian residents trading forex on unauthorised platforms can face action under FEMA. Source: RBI Alert List (RBI press release 2025-2026/1530, 19 Nov 2025; checked 24 Oct 2026).

Verdict score

7.6 / 10

Launch formula: 60% hard data, 40% outside ratings. Verified reviews from our traders replace outside ratings as they come in.

Regulation10.0

Best licence: Tier 1

Trading cost5.0

No published spread

Accessibility5.0

Deposit not published

Platforms & payments3.4

2 platforms · 0 payment methods

Outside ratings8.0

Trustpilot 4 from 32,244

eToro vs top-rated peersPER YEAR

I trade standard lots of EUR/USD a month.

Trive$720

GO Markets$1,200

FP Markets$1,440

Zero Markets$1,440

Vantage$1,440

Cheapest vs most expensive here, per year$720

Regulation

Who licenses eToro.

Licences as eToro lists them. A tick means we found the entity on the regulator's own register.

Regulator	Tier	Entity	Licence no.	On register
FCA	TIER 1	eToro (UK) Ltd	583263	Not yet checked
FCA	TIER 1	eToro Money UK Ltd	900203	Not yet checked
CySEC	TIER 2	eToro (Europe) Ltd	109/10	Not yet checked
MFSA	TIER 2	eToro Money Malta Ltd		Not yet checked
FSRA (ADGM)	TIER 2	eToro (ME) Limited	220073	Not yet checked
ASIC	TIER 1	eToro AUS Capital Limited	491139	Not yet checked
FSA-SC	OFFSHORE	eToro (Seychelles) Ltd.	SD076	Not yet checked
MAS	TIER 1	eToro Singapore Pte. Ltd.	CMS101824	Not yet checked
FinCEN	—	eToro USA LLC	NMLS 1769299	Not yet checked
SEC/FINRA	TIER 1	eToro USA Securities Inc.	CRD 298361	Not yet checked
GFSC	—	eToro X Limited	1333B	Not yet checked

Accounts

Published EUR/USD costs.

Account	Spread	Commission	Cost / lot
Standard (CFD) from	—	$0	—

Cost per standard lot = spread in pips × $10 + round-turn commission. Brokers publish “typical”, “average” or “from” spreads; “from” figures flatter the broker.

Key facts

The fine print.

Website

www.etoro.com

Founded

Not published

Headquarters

Not published

Minimum deposit

Not published

Max leverage

Not published

EU/UK leverage cap

—

Platforms

own web platform, own app

Deposits & withdrawals

Not published

Islamic (swap-free) account

Not published

Copy trading

Yes

Withdrawal fees

Free from local-currency accounts (GBP, EUR, AUD, DKK); USD account: fixed $5 fee, $30 minimum withdrawal. Conversion fees apply (vary by location/method/club tier).

Inactivity fee

Fees page lists inactivity fee as Free.

Restricted countries

Not published

RBI Alert List (India)

LISTED as "eToro" · list of 19 Nov 2025 · checked 24 Oct 2026

Verified reviews

Traded with eToro? Prove it.

Verified reviews open soon. Reviews backed by a statement, a read-only MT4/MT5 login or a withdrawal receipt count up to 3× more, and every verified review enters the weekly 100 USDT draw.

Outside rating used for now: Trustpilot 4 from 32,244 reviews.

Compare eToro

Visit eToro

Sources · data as of 2026-10-24

accounts: www.etoro.com/trading/fees/cfd-spreads/
regulators: www.etoro.com/customer-service/regulation-license/
trustpilot: www.trustpilot.com/review/www.etoro.com
copy trading: www.etoro.com/copytrader/
inactivity fee note: www.etoro.com/trading/fees/
withdrawal fee note: www.etoro.com/trading/fees/

Research notes: EUR/USD spread is published as a percentage: 0.005% per trade ('lowest possible scenario') - roughly 0.6 pips at EUR/USD ~1.16, but pips not published so eurusd_spread_pips left null. No commission on CFD FX (spread-based) per fees page. CopyTrader min $200 to copy. Platforms: proprietary web/app (no MT4/MT5 seen, not explicitly confirmed). Founded year/HQ not stated (copyright 2006-2026). Min deposit page failed; max leverage not stated. Also eToro NY LLC (NYDFS) without number.

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