04.07.2022
Chicago 12, Melborne City, USA
Investment

eToro ups min first deposit to $ 1K to stem flow of crypto traders:

ReviewBrokers Exclusive… ReviewBrokers has learned that Retail FX and CFDs broker eToro has seen a flood of new client signups in recent weeks, with a large number of new and potential clients being smaller retail traders looking to get in on Bitcoin and crypto trading surge .

In response – both to deal with what the company called “unprecedented demand” from new users, as well as to protect less sophisticated investors – eToro has upped the minimum initial deposit for new clients to USD $ 1,000. The company previous minimum deposit to open a new account varied by location, from $ 200 in the UK and Europe to just $ 50 for US-based traders.

eToro’s minimum account opening amount remains higher in certain jurisdictions, such as its home base of Israel where for regulatory reasons it stays at $ 10,000, and $ 5,000 for residents of Algeria.

The company tweeted out the following via its service and support arm:

eToro has seen an unprecedented demand for our services from new users. To manage demand & ensure our existing community of 17M registered users can continue to access our services uninterrupted, we have temporarily increased the minimum deposit amount for new users to $ 1,000.

eToro has been most adept of all Retail FX brokers at using and integrating social media into its offering and indeed labels itself as a social trading platform. It also leads most FX brokers at offering trading in various cryptocurrencies to retail traders.

eToro was valued at more than $ 2.5 billion in a recent secondary share sale between shareholders. The company has been rumored to be pursuing an IPO or SPAC public exit at a valuation approaching $ 5 billion.

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My name is Lawrence. I am one of the most famous forex trading schools. The purpose of creating this project is not only to give working advice on the Forex market, but also to warn beginners from fraudulent projects. Here we publish reviews of all Forex training scam projects, and professionally train those who have just decided to enter this niche.

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