Yes, eToro is legally permitted to operate in the UK. Its local entity, eToro (UK) Ltd, is authorised and regulated by the Financial Conduct Authority (FCA). Additionally, this company is registered in England and has a local office in London.
61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
A prevalent question among UK traders is whether they are legally permitted to trade on eToro. The reassuring answer is YES, it is legal in the UK, and I've conducted extensive research, plus my own experience to provide detailed insights into this matter.
eToro (UK) Ltd is under the regulatory purview of the Financial Conduct Authority (FCA), holding the Firm Reference Number 583263. It's registered in England (Company No. 07973792) with its office at the 24th floor, One Canada Square, Canary Wharf, London E14 5AB. This FCA authorization is a critical factor, ensuring that eToro meets the stringent financial service standards in the UK.
Additionally, eToro (UK) Ltd is registered with the FCA to offer cryptocurrency services, aligning with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. This registration underscores eToro's commitment to secure and regulated cryptocurrency trading.
eToro Money UK Ltd, associated with eToro, is also FCA authorized for electronic money and payment services (Firm Reference Number 900923), registered in England & Wales (Company No. 07712717), with its office in Manchester. This highlights eToro's comprehensive financial services, including trading, electronic money, and payment services.
So, what do these regulatory and registration details signify? It's a significant assurance for traders. You see, any broker legally operating in the UK must be authorized and licensed by local financial authorities, in this case, the FCA.
🙋 My personal experience as a UK resident reinforces this
Checking my own eToro trading account, I can confirm that it is indeed under "eToro (UK) Ltd, a Financial Services Company authorized and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263." This is a clear proof of eToro's legal status in the UK.
There's your answer. eToro's operation in the UK is legal and in addition to that, they adhers to the high standards of regulation set by the FCA. This provides eToro UK traders with a secure and regulated platform for their trading activities, whether in traditional markets or the evolving cryptocurrency space.
About Mike Druttman
