Trading with eToro from Maroc [Commission Free on Stocks]

CFD Trading on several Asset Classes with eToro

Is eToro available in Maroc?


First things first, many locals ask about the availability of eToro, and the answer is yes, eToro is available to clients who live in Maroc. Currently, Africa is one of the fastest-growing regions in terms of the number of new traders. This is why eToro focuses on acquiring new clients residing in Morocco by offering webinars, live market analysis and daily trading updates, among other useful tools. 



What is eToro?


eToro is an online broker that offers one of the top trading platforms worldwide. Founded in 2007, the company is headquartered in Cyprus, offering investors to research other users' investment strategies via its Social Trading platform. 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 is set up as public). This 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 regulated in the UK, US, Cyprus and Australia:


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

  • eToro (Europe) Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) and 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 is operated by eToro USA LLC, registered with FinCEN as a Money Services Business.

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


UK's FCA is considered the strictest regulator globally, implying that eToro is a very reliable Broker, since it has to comply with robust regulation on its operation and customer care.



eToro's CopyTrader Platform


Since eToro's Social Trading platform was launched in 2010, the Broker has incorporated many improvements to its platform, including the possibility of choosing the leverage level of each trade, the opportunity 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.


Bid and Ask order types available on eToro's Platform


When trading any financial instrument, eToro's Trading platform allows the following functionalities:


  • Take Profit: When using this functionality, you may specify a maximum value when the trade should be closed automatically. In other words, if a financial asset rises, the trader can "protect the profits" by cashing in the profits.

  • Stop Loss: Alternatively, when using the Stop Loss functionality, a minimum price should be specified at which the position traded on the financial instrument should be closed automatically. In other words, if the financial asset's price falls, the trader can minimise the losses of the trade to the specified price level.

  • Limit Order: You may use a limit to buy or sell a stock at a specific price or better. A buy limit order is executed at the limit price or lower, and a sell limit order is completed at the limit price or higher.

  • Leverage Level: eToro's platform allows Traders to choose each trade's leverage level. Depending on the instrument, the level of available leverage will vary. In particular, when you select leverage level 1 for equity markets, you are acquiring an instrument as you would obtain the actual stock.



Forex & CFD instruments offered by eToro


  • Forex: +47 currency pairs – Majors, minors, and exotics.

  • Stocks: eToro offers +1,800 CFDs on Stocks from 12 major Stock Exchanges, among which there are the New York Stock Exchange, Nasdaq, London Stock Exchange and Xetra, four of the most popular Stock Exchanges among investors.

  • ETFs: CFDs on 145 ETFs from iShares, Vanguard, PIMCO, Invesco, Market Vectors, Horizons, among other asset managers.

  • Commodities: CFDs on 13 commodities, being Gold and Oil the most popular among traders in Maroc.

  • Indices: 13 major stock exchanges indices.

  • Cryptocurrencies: CFDs on 17 cryptocurrencies.

  • Thematic Portfolios: eToro offers CFDs on 19 Trading ideas [Portfolios] like Food And Drink, eSports, 5G among others.

  • Social Trading: As mentioned before, eToro offers the possibility of acquiring portfolios developed by other traders using the platform via it's 'CopyPortfolio' feature.

eToro's trading platform is simple to use and has an excellent user experience.

eToro's CFD Trading Account in Maroc


Opening a Forex and CFD trading account with eToro from Maroc is a process that takes only a few minutes and requires a Valid ID (ID Card or Passport) and a proof of address (electricity, water bills, etc.), which are scanned through the platform. Should everything be approved by eToro, the account would be operational in less than a day. You may deposit and withdraw money through:


  • Credit Cards

  • International Bank Transfer

  • eWallets: PayPal, Skrill, Neteller, WebMoney, and UnionPay


Opening a Demo Account is free, so you may try the Demo, test it, and then decide whether you will deposit funds or not. 



Does eToro offer Islamic accounts? Am I allowed to Trade if I am Muslim?


Yes - eToro offers Islamic accounts. And how do they work? An Islamic account is a halal trading account available to clients who respect the Quran and wish to invest while following Islamic finance principles. Islamic trading accounts differ in several ways from regular Forex accounts. 


As Sharia law prohibits the accumulation of interest, traders with Islamic accounts do not pay or receive interest rates. Also, transactions in Islamic accounts have to be completed without delays, so currencies must be transferred from one account to another immediately, and transaction costs must also be paid simultaneously. Islamic accounts are also known as swap-free accounts because of this, and they follow four basic principles to be considered Halal:


  • Prohibition of payment and receipt of any interest rate (Riba)

  • Immediate exchanges in the context of trading operations

  • Prohibition of gambling

  • Distribution of risks and benefits



eToro's Minimum Deposit in Maroc


We have saved some good news for the last paragraph: Opening an account with Real funds requires USD200 only. If you choose an Islamic account, the minimum initial deposit is USD 1,000. Good luck, and we hope you make money with this popular Trading Platform.


Update on eToro's minimum deposit (Jan 11th, 2021): eToro has seen an unprecedented demand for its services from new users. To manage demand and ensure the existing community of 17M registered users can continue to access eToro’s services uninterrupted, the minimum deposit for new users was temporarily increased to $1000.


Update (Jan 15th, 2021): New temporary minimum of $500.


Update (Jan 18th, 2021): Minimum amount changed back to $200.

Trade Forex, Shares, Commodities, ETFs and more with eToro

ÚNETE A NUESTRO CANAL DE TELEGRAM

Telegram_edited.png