Is eToro available in India?

First things first, many locals ask about the availability of eToro, and the answer is no, eToro doesn't open trading accounts for clients who live in India. Although they did open accounts, they stopped in May 2021. Very likely, your next question will be: Is FX Trading legal? Well, it is not.

SEBI (Securities and Exchange Board of India) forbids Indian citizens to conduct Forex transactions in Indian territory through international Forex trading platforms (According to a notice issued by the Reserve Bank of India in 2013) to minimise the risk Forex Trading bears.

However, if Forex transactions are carried out through a designated Forex trading platform and the base currency is INR (Indian Rupee), the transaction is legal. In short, the Indian government restricts the transactions of Indian residents and can only trade currency pairs based on Rupee.

Long story short, this means that, although you may open an account from India with a foreign-based broker like eToro, it would be illegal. However, if you find an FX Broker regulated in India, you are good to go. For that matter, NordFX holds a 'Registered Stock Broker in Currency Derivative Segment' license issued by SEBI. So, by opening an account with NordFX, you may trade the FX markets while living in India.

I don't want to open a Trading account; I want to know what is eToro!

Then, eToro is an online broker that offers one of the top trading platforms worldwide. Founded in 2007, eToro is known for being the most popular Social Trading platform: Allows investors to research other users' investment strategies. When saying investment strategies, we are not only referring to general parameters but practically all trader's investment history, orders, traded financial assets, and track record (Earnings or historical losses).  With all this available info, eToro then allows users to "Copy" other users' portfolios and, in turn, will enable one to be copied by other users (as long as the profile had been set as public). Being "copied" by other traders means that you may attract traders to invest in your trading strategies, which in turn generates money in the form of commissions.

Is eToro a trustworthy broker?

eToro is a broker regulated in the UK, US, Cyprus, and Australia:

• eToro (UK) Ltd., regulated by the Financial Conduct Authority (FCA),

• eToro (Europe) Ltd., regulated by the Cyprus Securities and Exchange Commission (CySEC), retains a cross border license from the CySEC to offer its services in member states of the European Economic Area, and outside of it.

• Member of the NFA (National Futures Association).

• eToro USA LLC operates eToro USA is registered with FinCEN as a Money Services Business.

• eToro Australia Pty Ltd is regulated by the Australian Securities & Investments Commission (ASIC).

The UK's FCA is considered by the experts as the strictest regulator in the world, implying that eToro is a very reliable Broker, since it has to comply with strong regulation on its trading operation and customer care.

eToro's CopyTrader Platform

Since eToro's Social Trading platform was launched in 2010, it has incorporated many improvements to the platform, including the chance of choosing the leverage level for each trade, the possibility that any average Joe may receive commissions when copied by other investors [By becoming a 'Popular Investor'].

eToro's Trading platform also allows 'copying' thematic portfolios in the "CopyPortfolios" section. Among some of the thematic portfolios available, some invest in Cryptocurrencies, Medicinal Cannabis, Travel Industry, BioTech, Internet, Drones, among many others.