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eToro Gets FCA License: Looks to Set Up Office in London

Cyprus-based broker and social trading giant, eToro, announced earlier today the acquisition of its latest regulatory license from none other than the successor of the British Financial Services Authority (FSA), the newly established Financial Conduct Authority (FCA). This recognition of legitimacy in the United Kingdom does not only mean a rise in prestige for the company but it also provides clients with a further guarantee that they'll be receiving a fair and safe service.

Yoni Assia, eToro's founder and CEO, comments: “Getting our social investment network FCA regulated is a major milestone for eToro. As the innovation leader in social investing, we are pursuing a clear vision: to give our users the opportunity to invest and trade the markets in a simple and transparent way. As such we take transparency and user protection very seriously and have implemented a long list of self regulation rules to ensure everyone in our investment network is treated equally. Having the FCA stamp of approval makes it official.”
Among the greatest advantages of eToro going under FCA supervision is that local clients will now be covered by Britain's Financial Services Compensation Scheme (FSCS). In the case of your dealer going bankrupt, the FSCS will reinstate up to 50,000 pounds of your funds which the company may have swallowed up on the way down. Under the wing of the Cyprus Securities and Exchange Commission (CySec), on the other hand, with which eToro is also registered, clients can expect a reimbursement in the amount of up to 20,000 euros.
With this last addition to its array of authorization agreements, eToro becomes a truly international broker, enjoying foreign exchange provider rights from four of the world's largest financial regulators – the CySec, the US Commodity Futures Trading Commission (CFTC), the Australian Securities and Investments Commission (ASIC) and of course the UK's FCA.
The Limassol headquarters handles eToro's European operation but along with the news of today, the broker also announced that it's looking to set up an office in London soon which will not replace the Cypriot one in importance but will rather serve as a much needed subsidiary.
On the other side of the Atlantic, eToroUSA is the broker brand run by Institutional Liquidity's IB, Tradonomi LLC – a US-registered company, again part of the eToro cloud offering. And last but not least, customers from the Asia Pacific area who'd like to benefit from eToro's social trading platform can do so through using the services of Australian IC Markets Ltd, a fully licensed ECN and CFD broker based in Sydney.

About eToro

eToro is a Cyprus-based forex broker regulated by the Cyprus Securities and Exchange Commission. It offers reasonable trading via proprietary trading platforms, variable spreads from 1 pip, and leverage of up to 1:400.
TAGS: etoro  broker  trader  trading  forex  foreign exchange  gift card  premium investor  fca license  london 

More news about eToro

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia ASIC MT4, MT5,
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
$200 Review Website

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