Opening a Trading Account with eToro from the Cayman Islands
Opening a Forex and CFD trading account with eToro from Cayman is a process that takes only a few minutes and requires a valid ID 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:
International Bank Transfer
eWallets like PayPal, Skrill, Neteller, WebMoney, 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.
eToro's Minimum Deposit in Cayman
We have saved some good news for the last paragraph: Opening an account with Real funds requires USD200 only. 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.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro
eToro's trading platform is simple to use and has an excellent user experience.
Is eToro available in Cayman?
First things first, many locals ask about the availability of eToro to clients residing in the country, and the answer is yes, eToro is available to clients who live in the Cayman Islands.
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. eToro is the most important Social Trading platform: It 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 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.
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.
Trading with eToro from Cayman [Commission Free on Stocks]
Trade with confidence on the world's leading social trading platform, Forex, CFD, Shares, Crypto, ETFs & more. Trade with eToro's Demo for Free.