I couldn’t help but notice that an alleged “Etoro scam” has been sweeping both online and offline audiences. Those who trade or are interesting in trading would benefit from hearing a solid Etoro review, and that’s exactly what I’m aiming to do here. My knowledge and experience with Etoro has been enlightening.
So why do people think there is an “Etoro scam” anyway?
I first asked myself this when I discovered Etoro. I was not convinced that they were legit, but I didn’t pass immediate judgment either, but rather conducted my research. It seems to me that there are a couple reasons why people bring skepticism to the table:
1. People lose money.
Either folks hear about users losing money, or they have lost money themselves at Etoro. Fear of losing money sharply raises people’s concerns. However, successful trading takes a fair amount of skill, which is a factor independent of Etoro or any other platform’s usefulness or veracity.
2. There are inevitably unsatisfied, unhappy clients.
And these are the ones who happen to voice their concerns the most, even if they make up the minority of clients. This is true in general for a variety of businesses, but this by itself is not a valid objection to any one business.
Well Etoro’s business model makes sense.
First, I should note that in the 21st century it is only normal for financial businesses like any other to become more social and digital. There are certain reasonable advantages that companies like Etoro can understandably go for.
Any vital communications regarding trading information is very readily available with unsurpassed accuracy to brokers, traders and advisers. Modern innovations of course do allow us to get the facts quickly about market trends, economic developments and varying prices.
Veterans are well aware that the speed of information plays a major role in the success of both jumping on emerging opportunities and “jumping ship” when certain opportunities dry up.
It is clear that trading platforms can be an excellent tool, but how do they compare to each other, and what about the supposed Etoro scam?
Here’s what you’ll likely undergo as an Etoro Client:
The very nature of a social construct online is transparency of communication. It is safe to assume that Etoro is a leader among trading platforms given the fact that they have a sophisticated system called OpenBook.
This allows users to widely and efficiently share advice and insight with other users. Reaching the staff with inevitable concerns and questions is also easily done.
One particularly interesting feature Etoro offers is something simply called “Copy”, which enables you to literally copy the strategy taken by another user who has found a strategy that works.
I’m a bit taken back by the fact that more sites of this nature don’t have this feature. Etoro is actually in the minority in this regard, but this is a good point about their service.
To further acknowledge the technological advantages of Etoro, their WebTrader interface is among the most sophisticated available. Users routinely report ease of use and efficacy during operation.
But the social system in place at Etoro is established to create “win-win” situations for the users. Those who successfully trade at Etoro and uncover winning strategies are encourated to be “guru’s and share what they have learned with other users.
They are of course incentivized to share their knowledge by being rewarded more by Etoro.
If you are new to making money through trading (and even if you are not), I believe this should be great news for you. Etoro is evidently keenly interested in the success of new traders.
Not only can you expect to be sort of “taken under the wing” of already successful traders, but Etoro’s site itself is popularly known for its superior interface with which newcomers can learn efficiently.
Verified Company Credibility
It’s easy to become skeptical online, although at the first time I’ll be the first to say that we should be skeptical, especially with financial sites such as trading platforms. It’s true that the agenda of some sites of this kind is to simply separate people like us from our money, and they are doing this every day.
So it’s worth taking an objective look how credible Etoro really is, because this is I think is really the “heat test” whereby we can most clearly see an “Etoro scam” or not.
Well they are in fact compliant with variety of both domestic and global regulations concerning corporate trading and investment services. I am referring to the legal anti-money laundry policies, security clauses from CySEC and other regulations from over 20 countries.
Regarding digital security, Etoro fully complies with W3C requirements and also VeriSign. Clearly this company has gone to great length to bulletproof the security of their information and trading system so that users need not fear abuse or financial vulnerability.
I have not located any evidence to suggest that there some underhanded “Etoro scam”. And while I cannot rightfully say that everyone will get the same results, I can say that the service Etoro offers clients is quite consistent and should give you the best chance of successful trading.
That is, Etoro wins when you do, so it’s actually in their best interest NOT to “scam” you. I highly recommend Etoro, as they are top notch in this field.