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    WikiFX: A Visit to Forex Broker eToro in Cyprus

    Abstract:Since last year, advertisements of eToro have been seen frequently on Facebook and YouTube. Some have joined in it for curiosity, while other more stay alert and doubt whether it’s an illegal platform or not.

      Investigation background

      Since last year, advertisements of eToro have been seen frequently on Facebook and YouTube. Some have joined in it for curiosity, while other more stay alert and doubt whether its an illegal platform or not. In response to the requests of investors, WikiFX visited the licensed company eToro in Cyprus.

    1.png

      Ads of eToro on YouTube

      Broker profile

      Name: eToro

      Location: Cyprus

      Investigator: WikiFX

      Investigated address: 4, Profiti Ilias Street, Kanika Business Centre, 7th Floor, Germasogia, CY-4046 Limassol

    2.png

      Regulatory information about eToro on CySEC (Cyprus Securities and Exchange Commission)

      Investigation process

      According to regulatory information, WikiFX arrived Kanika International Business Center, a mansion where eToro is located. Backed by coastal road, it enjoyed a beautiful scenery with fountains and squares at the front.

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    3-2.jpg

      The mansion where eToro is situated at

      WikiFX managed to enter the building and reached the office on the 7th floor by sightseeing lift under the guidance of floor directory.

    4.jpg

      Noticeable logo on the office entrance

      After ringing the doorbell, WikiFX was received by a supervisor of eToro. The investigator observed that the office was neat and clean. It was equipped with over 20 office cubicles, with many employees busy working.

    5.jpg

      Interior of eToro office

      Summary

      This visit confirms that the licensed company eToros real address in Cyprus is in line with that in regulatory information. On the WikiFX APP, eToro has received a rating of 7.62 and is currently under valid supervision. Nevertheless,WikiFX has received 10 complaints against the broker in the past three months. Thus, investors should stay alert to it when depositing.

    6.jpg

      eToro received a rating of 7.62 on the WikiFX APP

      As an information channel serving investors worldwide, WikiFX investigates the actual operating conditions of global forex brokers by visiting them at irregular intervals, so as to warn investors against illegal brokers. So far, WikiFX App has included profiles of more than 19,000 forex brokers around the world, while integrating broker information query, exposure, news feed and other functions, and protecting investors fund safety in forex trading. Click here to download WikiFX App: https://bit.ly/wikifxIN

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