Traders Union team checked eToro office in Cyprus
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We checked the office of the eToro brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
st. Profiti Ilias, 4, business center "Kanika", 7th floor, Yermasogeia, 4046, Limassol, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
Cyprus is one of the most popular jurisdictions for Forex companies. The Cyprus Securities and Exchange Commission (CySec) is a Tier-1 regulator, which means it adheres to stringent regulatory standards set by the European Union.
Traders Union's goal is to help traders understand the operation of eToro under CySEC regulation. Recently, Traders Union visited the office of eToro to verify that the company is genuinely operating in Cyprus and providing services there.
In this article, you will also find all the important information about the broker's regulation under CySEC and other jurisdictions.
Brief dossier of eToro
| Foundation date | 2007 |
| Headquarters | eToro (UK) Ltd. 24th floor, One Canada Square Canary Wharf London, E14 5AB, United Kingdom |
| Regulation |
FCA UK, CySEC, ASIC, FSA (Seychelles) |
| Official site | https://www.etoro.com/ |
| Contacts |
Email:
support@etoro.com,
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A visit to the office of eToro in Cyprus
Blinov Vasily, our associate, visited the office of eToro located at the following address: st. Profiti Ilias, 4, business center "Kanika", 7th floor, Yermasogeia, 4046, Limassol, Cyprus to conduct a thorough inspection and prepare a video report. Blinov Vasily is an experienced professional with extensive knowledge of the Forex market and methods of research.
The eToro office is located in the Kanika International Business Center on the prestigious Limassol waterfront just 100 meters from the Mediterranean Sea. Built to meet the needs of large and high performing businesses, the building is only a 5 minute drive from the city center and the most prestigious 5 star hotels in Limassol. Companies with international operations and local business are located here. eToro offices occupy the third, as well as the sixth and seventh floors.
eToro Office
A video report of the visit to the broker’s office
Our goal is to provide clients with full and impartial information about operation of the brokerage company, and we are sharing the results of its inspection in the format of a video report.
eToro Office
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Is a eToro safe broker?
Traders Union experts believe that eToro is a safe broker. This is evidenced by several factors, including:
- Tier-1 Regulation: Regulated by a Tier-1 authorities.
- Investor Protection Fund: Participation in the Investor Compensation Fund.
- Segregated Accounts: Client funds are kept separate from company funds.
- Longevity: eToro has a long history of reliable operating.
eToro safety and regulation
| All eToro regulator | Country of regulation | Regulation level | Investor protection fund | Segregated Account |
|---|---|---|---|---|
| ASIC | Australia | Tier-1 | No specific fund but has stringent consumer protection | Yes |
| CySec | Cyprus | Tier-1 | Up to €20,000 | Yes |
| FCA UK | United Kingdom | Tier-1 | Up to £85,000 | Yes |
| FSA (Seychelles) | Seychelles | Tier-3 | No specific fund | Yes |
How does CySEC regulation protect investors?
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EU Rules Compliance: Adheres to EU regulations on leverage. Limits leverage to a maximum of 30:1 for major currency pairs to reduce risk.
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Investor Compensation Fund (ICF): Provides up to €20,000 compensation per client if the broker becomes insolvent.
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Transparency and Accountability: Ensures brokers operate with high standards of transparency.
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Client Fund Segregation: Requires brokers to keep client funds separate from company funds.
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Strict Licensing: Only grants licenses to brokers meeting rigorous standards.
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Continuous Monitoring: Regular audits and oversight to ensure compliance.
Beyond the office: practical advice for Forex investors
As we conclude our in-depth look at the broker's operations in this country, we’d like to offer additional advice for traders, considering this broker:
Use these visit reports as a starting point, but conduct your own research too. Cross-reference the information about eToro with other sources to get a comprehensive view of the broker. According to a survey by the Forex Trading Association, traders who spent at least 2 hours researching their broker before opening an account reported 30% higher satisfaction rates than those who didn't. When evaluating eToro, consider checking their regulatory status with multiple authorities - brokers regulated in multiple jurisdictions tend to have 25% fewer customer complaints compared to those regulated in only one jurisdiction.
Don't hesitate to reach out to eToro customer service with specific questions - a quick response time can be telling. Remember, while eToro office visit report provides valuable insights, combining this information with your own research will give you a more accurate picture of their services and reliability.
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