Who are they?
eToro is not a new kid on the block. This trading platform has grown steadily from its earliest origins as a way for share traders to look at what others were doing, to follow ‘guru’ traders and effectively copy the strategy of people they thought knew their stuff.
eToro is regulated in the UK by the FCA. Cryptocurrency and Cryptoasset services are not regulated other than for the purposes of money laundering. (i.e. NOT doing it!!)
Crypto
At Boring Money we are hesitant about crypto. We think it’s not for new investors, people who cannot afford the risk, or anyone who has debts to pay off.
However, it is becoming progressively more mainstream and we can’t ignore the fact that many people want to have a dabble or have already taken a punt.
We think eToro is one of the more interesting options because it allows you to buy and hold crypto alongside more mainstream assets. This feels like the most sensible approach rather than diving into the shark-infested waters feet first! You can hold some nice sensible and boring ‘ETFs’ here as well, so you don’t make the classic mistake of putting all your eggs into this most uncertain of baskets!
Key Features
eToro has really made its mark as a social trading platform. You can copy people who look like they know what they are doing, such as the slightly frightening people in the illustration below!
If you are interested in learning more, we held a webinar with eToro’s Account Manager and one of their traders, Heloise Greef from Oxford University. Check it out here.
We are currently updating a fuller review complete with costs and deeper analysis and will update shortly.
