eToro (UK) Ltd
Financial Conduct Authority (FCA) · Reference 583263 2
Listed as Authorised in the FCA's investment firms register, first authorised 9 May 2013. The list does not show permissions.
Authorised Verified on register, 4 Oct 2026
eToro
eToro is a multi-asset trading and social investing platform owned by eToro Group Ltd, a British Virgin Islands company listed on Nasdaq (ETOR). It offers CFDs and other products through eToro (UK) Ltd (FCA), eToro (Europe) Ltd (CySEC), eToro AUS Capital Limited (ASIC), eToro Singapore Pte Ltd (MAS), eToro (Seychelles) Ltd (Seychelles FSA) and eToro (ME) Limited in Abu Dhabi. Its US businesses offer crypto and stock trading under separate registrations.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
Verified licences
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Financial Conduct Authority (FCA) | 583263 | eToro (UK) Ltd | Authorised Checked 4 Oct 2026 | Register entry for eToro (UK) Ltd (opens in a new tab) 2 |
| Cyprus Securities and Exchange Commission (CySEC) | 109/10 | eToro (Europe) Ltd | Authorised Checked 4 Oct 2026 | Register entry for eToro (Europe) Ltd (opens in a new tab) 3 |
| Australian Securities and Investments Commission (ASIC) | AFSL 491139 | eToro AUS Capital Limited | Authorised Checked 4 Oct 2026 | Register entry for eToro AUS Capital Limited (opens in a new tab) 4 |
| Australian Securities and Investments Commission (ASIC) | AFSL 319738 | eToro Asset Management Limited | Authorised Checked 4 Oct 2026 | Register entry for eToro Asset Management Limited (opens in a new tab) 4 |
| Monetary Authority of Singapore (MAS) | CMS101824 | eToro Singapore Pte Ltd | Authorised Checked 4 Oct 2026 | Register entry for eToro Singapore Pte Ltd (opens in a new tab) 5 |
| Financial Services Authority Seychelles (FSA) | SD076 | eToro (Seychelles) Ltd | Authorised Checked 4 Oct 2026 | Register entry for eToro (Seychelles) Ltd (opens in a new tab) 6 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
Assessment summary
eToro is owned by a Nasdaq-listed parent and we matched six of its seven trading and fund companies on official registers in the UK, Cyprus, Australia, Singapore and Seychelles. It publishes detailed terms, fees, complaint procedures and regulatory disclosures, and explains the compensation schemes that apply to UK and EU clients. The UK ombudsman’s data shows eToro UK’s complaints are upheld less often than average. Two regulatory matters weigh on the record: the SEC’s 2024 settlement with eToro USA over unregistered crypto activity, and ASIC’s continuing court case alleging that eToro AUS’s CFD target market was far too broad, which is undecided and not counted in the score. eToro is also on the Reserve Bank of India’s alert list. The banks holding client money are not named.
Key positives
- Clients can tell which regulated entity serves them 17
eToro’s regulation page names each company, its regulator and licence, and the client terms name the contracting company.
- Client money segregation is disclosed 17
Client money is held as client money under CySEC rules for EU clients, and eToro says it keeps client funds in segregated accounts.
- Ultimate ownership can be identified 89
The parent, eToro Group Ltd, is listed on Nasdaq, and Companies House records it as the owner of eToro (UK) Ltd.
- Authorisations are current and unrestricted 23456
All registers we checked show the companies as currently authorised, with no suspension or restriction.
- Legal entity details are published 138
Legal names, company numbers and registered addresses are published for the UK, EU, Australian and Seychelles companies.
Key concerns
- eToro USA settles SEC charges over unregistered crypto brokerage and clearing 14
Reduced the enforcement dimension by 10 points (moderate severity, 2.1 years before the review).
- Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 15
Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
- Client-facing entities appear on the regulator’s register 123456
Partly met We matched eToro (UK) on the FCA’s list, eToro (Europe) on CySEC’s register, eToro AUS Capital and eToro Asset Management in ASIC’s data, eToro Singapore in MAS’s directory and eToro (Seychelles) on the FSA’s list. We could not confirm eToro (ME) on the ADGM register.
- Banking and custody arrangements are disclosed 1
Not met eToro says client funds are held with partner banks in segregated accounts but does not name the banks.
- Regulatory claims on the website are accurate 1236
Partly met The licences eToro claims match the registers we could check, but its ADGM licence could not be confirmed and the Seychelles address it gives differs from the FSA’s record.
Breakdown by dimension
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Regulatory status and licence verification 26% of score Whether the firm’s licences exist, are current and cover what it offers.
- Partly met
Client-facing entities appear on the regulator’s register 123456
We matched eToro (UK) on the FCA’s list, eToro (Europe) on CySEC’s register, eToro AUS Capital and eToro Asset Management in ASIC’s data, eToro Singapore in MAS’s directory and eToro (Seychelles) on the FSA’s list. We could not confirm eToro (ME) on the ADGM register.
- Met
- Partly met
Permissions cover the services offered 356
CySEC and MAS list permissions covering dealing in CFDs and OTC derivatives, and the FSA lists eToro (Seychelles) as a securities dealer. ASIC’s data confirms the licences but we did not review their conditions, and the FCA’s list does not show permissions.
- Partly met
- Met
Criteria and their weighting are explained in the methodology.
Corporate transparency and ownership 13% of score Whether you can find out who owns and runs the firm.
- Met
- Met
- Met
- Met
- Met
Criteria and their weighting are explained in the methodology.
Client fund protections and disclosed safeguards 13% of score What protects client money if something goes wrong.
- Met
- Partly met
Retail clients have negative balance protection 7
The EU terms provide negative balance protection for retail clients trading CFDs. We did not review the Seychelles terms for the same protection.
- Partly met
- Not met
Banking and custody arrangements are disclosed 1
eToro says client funds are held with partner banks in segregated accounts but does not name the banks.
- Partly met
Withdrawal terms are disclosed 12
Withdrawal fees and minimums are published. We did not find processing times in the documents we reviewed.
Criteria and their weighting are explained in the methodology.
Enforcement and substantiated adverse findings 13% of score Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 12 points.
- Met
Warning lists and enforcement records have been searched 1314151617
We searched CySEC, FCA, ASIC and CVM records and the Indian and Malaysian alert lists, and ran web searches for actions by eToro’s other regulators and the SEC. The searches are cited with their dates. The Japan FSA’s list of warned unregistered firms (September 2026) includes RetailFX Limited (eToro) (2011).
- Enforcement action
ASIC court action alleging eToro AUS breached its design and distribution obligations for CFDs 13
3 Aug 2023. Not counted: the matter is not concluded, or was removed or overturned.
- Enforcement action
eToro USA settles SEC charges over unregistered crypto brokerage and clearing 14
12 Sept 2024. Reduced the enforcement dimension by 10 points (moderate severity, 2.1 years before the review).
- Regulator warning
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 15
19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
- Regulator warning
Warned by Japan’s Financial Services Agency in 2011 for derivatives business without registration 17
1 Jan 2011. Not counted: more than 10 years old at the review date.
Criteria and their weighting are explained in the methodology.
Complaint handling and documented resolutions 8% of score How the firm handles complaints, and what independent records show.
- Met
- Partly met
- Met
- Met
Complaint data is disclosed 21
The Financial Ombudsman Service publishes complaint figures for eToro (UK) Limited.
Criteria and their weighting are explained in the methodology.
Trading terms and operational transparency 8% of score Whether costs, execution and risks are disclosed before you sign up.
- Met
Costs are disclosed before account opening 12
Spreads, overnight fees, currency conversion fees, withdrawal fees and the absence of an inactivity fee are published before sign-up.
- Met
An order execution policy is published 1
Best execution and order handling policies are published for the UK, EU, Singapore and ME companies.
- Met
The client agreement is available before sign-up 7
The client terms can be read without an account.
- Partly met
Leverage and margin terms are disclosed 7
The EU terms explain the margin rule (margin must stay above 50% of the possible loss on each position). We did not find maximum leverage by client category in the documents reviewed.
- Met
Risk warnings are clear and current 12
The site shows the warning that 51% of retail investor accounts lose money when trading CFDs with eToro.
Criteria and their weighting are explained in the methodology.
Public disclosures and communication 4% of score Whether public claims hold up and the firm communicates openly.
- Met
- Partly met
- Met
Material changes are communicated 7
The terms are dated and eToro gives notice of changes, including on its website.
Criteria and their weighting are explained in the methodology.
On-site office verification 5% of score What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
- Not met
Real office at the stated address, not a ghost address
- Not met
Office of the assessed entity
- Not met
Staffed and operating
Criteria and their weighting are explained in the methodology.
On-site assessment and platform testing 10% of score What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
- Not determined
Company identity
- Not determined
Regulatory claims
- Not determined
Office visit
- Not determined
Account opening
- Not determined
Platform usability
- Not determined
Costs and disclosures
- Not determined
Customer support
- Not determined
Deposits and withdrawals
- Not determined
Trading functions
- Not determined
Complaints process
Criteria and their weighting are explained in the methodology.
Regulation and legal entities
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
eToro (Europe) Ltd
Cyprus Securities and Exchange Commission (CySEC) · Reference 109/10 3
Reception and transmission, execution of orders, dealing on own account, portfolio management and investment advice in financial instruments 1 to 10 (which include CFDs); safekeeping and related ancillary services. Also authorised as a crypto-asset service provider under MiCA.
Licence granted 14 January 2010. Previous name RetailFX Ltd.
Authorised Verified on register, 4 Oct 2026
eToro AUS Capital Limited
Australian Securities and Investments Commission (ASIC) · Reference AFSL 491139 4
Licence start date 4 September 2017.
Authorised Verified on register, 4 Oct 2026
eToro Asset Management Limited
Australian Securities and Investments Commission (ASIC) · Reference AFSL 319738 4
Licence start date 19 June 2008.
Authorised Verified on register, 4 Oct 2026
eToro Singapore Pte Ltd
Monetary Authority of Singapore (MAS) · Reference CMS101824 5
Capital markets services licence: dealing in securities, collective investment schemes, OTC derivatives and spot foreign exchange for leveraged FX trading; providing custodial services.
MAS lists the company as a capital markets services licensee. The directory does not show licence numbers; CMS101824 is the number eToro gives on its regulation page.
Authorised Verified on register, 4 Oct 2026
eToro (Seychelles) Ltd
Financial Services Authority Seychelles (FSA) · Reference SD076 6
Securities dealer
Listed among licensed securities dealers. The register does not show licence numbers; SD076 is the number eToro gives.
Authorised Verified on register, 4 Oct 2026
eToro (ME) Limited
Financial Services Regulatory Authority, Abu Dhabi Global Market (FSRA)
Dealing in investments as principal (matched), arranging deals, providing and arranging custody, and managing assets (as stated by eToro)
The FSRA public register page did not list eToro in the content we could load on 4 October 2026.
Claimed by the firm, not yet verified
eToro Group Ltd
No licence recorded for this entity.
Dated findings
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
Regulator warning Active
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 15
The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes eToro (www.etoro.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.
Enforcement action Settled
eToro USA settles SEC charges over unregistered crypto brokerage and clearing 14
On 12 September 2024 the SEC announced that eToro USA LLC had agreed, without admitting or denying the findings, to a cease-and-desist order and a USD 1.5 million penalty for operating as an unregistered broker and unregistered clearing agency in connection with trading in crypto assets offered and sold as securities since at least 2020. eToro agreed to limit US crypto trading to bitcoin, bitcoin cash and ether.
Enforcement action Ongoing
ASIC court action alleging eToro AUS breached its design and distribution obligations for CFDs 13
In August 2023 ASIC began Federal Court proceedings against eToro AUS Capital Limited, alleging that the target market it set for its CFD product was far too broad, that its screening test was very difficult to fail, and that it breached its obligation to provide financial services efficiently, honestly and fairly. ASIC alleges almost 20,000 eToro clients lost money trading CFDs between October 2021 and June 2023, and seeks declarations and penalties. The allegations have not been decided by the court; ASIC’s latest update says the hearing was listed to continue in April 2026.
Regulator warning Active
Warned by Japan’s Financial Services Agency in 2011 for derivatives business without registration 17
In January 2011 Japan’s Financial Services Agency listed RetailFX Limited (eToro), of Road Town, British Virgin Islands, among firms warned for offering over-the-counter derivatives trading over the internet without registration in Japan, with an addition in June 2012. The list gives the month only; we use 1 January 2011.
Company response
Firms can respond to their profile and to any finding. No response has been published for eToro. How firms can respond.
Assessment history
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 6 Oct 2026 | Trust score 83 out of 100 Strong | 1.2 | Current |
Corrections and updates
No corrections have been made to this profile.
Sources
- 1 eToro: Regulation and License (opens in a new tab)
Lists eToro’s companies and licences: eToro (UK) Ltd (FCA 583263, company 07973792, One Canada Square), eToro (Europe) Ltd (CySEC 109/10, HE 200585, Neocleous Tower, Limassol, with a MiCA licence from January 2025), eToro AUS Capital Limited (AFSL 491139), eToro (Seychelles) Ltd (FSA licence SD076, registered office given as Suite 18, Vairam Building, Providence), eToro (ME) Limited (ADGM FSRA), a Singapore company with MAS licence CMS101824, e-money companies in the UK and Malta, and US companies registered with FinCEN and the SEC. Explains FSCS cover (up to GBP 85,000) for eToro UK clients and Investor Compensation Fund cover (up to EUR 20,000) for eToro Europe clients, and says client funds are kept in segregated accounts with partner banks, which are not named. Publishes complaints procedures, best execution policies and regulatory disclosures for its companies.
- 2 Financial Services Register: investment firms list (CSV), data as at 3 October 2026 (opens in a new tab)
Shows eToro (UK) Limited (FRN 583263) with status Authorised, first authorised 9 May 2013.
- 3 Register of Cyprus investment firms: eToro (Europe) Ltd (opens in a new tab)
Lists licence 109/10 granted on 14 January 2010, company registration number 200585, previous name RetailFX Ltd, approved domain www.etoro.com, and authorisation for reception and transmission, execution, dealing on own account, portfolio management and investment advice in financial instruments 1 to 10. Also lists authorisations under MiCA.
- 4 Australian Financial Services Licensee dataset (October 2026) (opens in a new tab)
Lists AFSL 491139 held by eToro AUS Capital Limited (ABN 66612791803) from 4 September 2017, and AFSL 319738 held by eToro Asset Management Limited from 19 June 2008.
- 5 Financial Institutions Directory: eToro Singapore Pte Ltd (opens in a new tab)
Lists eToro Singapore Pte Ltd as a capital markets services licensee for dealing in securities, collective investment schemes, OTC derivatives and spot FX for leveraged trading, and for custodial services. Names Yaki Yaacov Razmovich as chief executive officer.
- 6 Regulated entities, capital markets: securities dealers (opens in a new tab)
Lists eToro (Seychelles) Limited among licensed securities dealers at eToro Suites S45, Second Floor, Espace Building, Victoria, Mahe, with website www.etoro.com. This address differs from the one on eToro’s regulation page.
- 7 eToro Europe Client Terms and Conditions (July 2025) (opens in a new tab)
Last updated and published on 7 July 2025. Client money is treated as client money under CySEC rules; retail clients have negative balance protection on CFDs; margin on each position must stay above 50% of the money that could be lost on it. eToro Europe is covered by the Cyprus Investor Compensation Fund up to EUR 20,000 for CFDs and securities, but not for crypto-assets. Complaints go through the platform’s help section and can be escalated to the Financial Ombudsman of the Republic of Cyprus. eToro gives notice of changes, including on its website, and continued use counts as acceptance.
- 8 Companies House: eToro (UK) Ltd (07973792) (opens in a new tab)
Active company, registered office 24th Floor, One Canada Square, London E14 5AB. Active officers include Jonathan Alexander Assia, Robert James Brown, Paul Andrew Chrimes, Edward Charles Drake, Lord Fink, Dan Moczulski, Avi Sela and Meron Shani. The person with significant control, notified on 14 May 2025, is eToro Group Ltd, a British Virgin Islands company (registration 1373068), holding 75% or more of shares and votes.
- 9 eToro investor relations (opens in a new tab)
Investor site of eToro Group Ltd (Nasdaq: ETOR), with quarterly results and monthly business metrics, most recently for August 2026.
- 10 eToro (Europe) Ltd disclosures under the Investment Firms Regulation, year ended 31 December 2025 (opens in a new tab)
Regulatory disclosures published in May 2026 on risk management, governance and own funds, including a perpetual capital note issued to eToro Group Ltd.
- 11 eToro (Seychelles) Limited Complaint Handling Policy (version 1.2, 2022) (opens in a new tab)
Complaints are to be resolved within 14 business days and no later than 30. A client who remains dissatisfied can complain to the Seychelles Financial Services Authority; the policy names no ombudsman.
- 12 eToro fees (opens in a new tab)
Publishes spreads, CFD overnight fees, currency conversion fees, a USD 5 withdrawal fee from USD accounts (minimum USD 30), free withdrawals from local currency accounts and no inactivity fee. Shows the warning that 51% of retail investor accounts lose money when trading CFDs with this provider.
- 13 23-204MR ASIC sues eToro in its first design and distribution action to protect consumers from high-risk CFD products (opens in a new tab)
ASIC’s media release on its Federal Court proceedings against eToro AUS Capital Limited, with editor’s notes. The latest note says the hearing was listed to continue on 27 and 28 April 2026; no judgment is reported on the page.
- 14 eToro Reaches Settlement with SEC and Will Cease Trading Activity in Nearly All Crypto Assets (opens in a new tab)
Press release of 12 September 2024: eToro USA LLC agreed, without admitting or denying the findings, to a cease-and-desist order and a USD 1.5 million penalty for operating as an unregistered broker and clearing agency for crypto assets offered as securities since at least 2020, and to limit US crypto trading to bitcoin, bitcoin cash and ether.
- 15 Alert List (updated as on 19 November 2025) (opens in a new tab)
Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 5 is eToro, https://www.etoro.com.
- 16 Searches of CySEC, FCA, ASIC and CVM records, the Malaysian alert list, and web searches for other regulators’ actions, for eToro companies (opens in a new tab)
On 4 October 2026 we checked CySEC’s 1,173 board decisions, the FCA’s warnings and notices, ASIC’s website, Brazil’s CVM alerts and the Securities Commission Malaysia’s alert list, and ran web searches for actions by MAS, the Seychelles FSA, the ADGM FSRA and the SEC, for eToro and its companies. Apart from the records cited separately we found no fine, sanction or warning against eToro companies. The FCA and Malaysian lists include clones and schemes misusing the eToro name, which we do not treat as findings about eToro.
- 17 Names of unregistered overseas firms warned by the Financial Services Agency (updated 25 September 2026) (opens in a new tab)
Lists RetailFX Limited (eToro), Road Town, British Virgin Islands, warned in January 2011 (with an addition in June 2012) for over-the-counter derivatives trading over the internet without registration in Japan. A 2014 entry for “eToro Europe Limited” of Cyprus concerns a site called AmigaFX and is not treated as a finding about eToro.
- 18 eToro (UK) Ltd Complaints Handling Procedure (August 2026) (opens in a new tab)
Explains how to raise a complaint and commits to a final response, or an explanation of the delay, within eight weeks, after which the client can refer the complaint to the Financial Ombudsman Service.
- 19 eToro (Europe) Limited Complaints Handling Guidelines (opens in a new tab)
Sets out the complaint process for EEA clients, including the right to escalate to the Financial Ombudsman of the Republic of Cyprus.
- 20 Ombudsman decisions: eToro (UK) Ltd, October 2023 to October 2026 (opens in a new tab)
The ombudsman lists eToro (UK) Ltd under two business names. Between 4 October 2023 and 4 October 2026 it published 84 final decisions under one (17 upheld, 67 not upheld) and 17 under the other (6 upheld, 11 not upheld): 101 decisions in total, 23 upheld.
- 21 Business complaints data, July 2025 to March 2026 (opens in a new tab)
Lists eToro (UK) Limited with 116 new cases in the period, all about investments, and 24% of resolved cases upheld, against an average of 34% for investment complaints.
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