Which cryptocurrencies are available?
Bitcoin, Bitcoin Cash, Binance Coin, Cardano, Dash, EOS, Ethereum, Ethereum Classic, IOTA, Litecoin, Neo, Stellar, XRP and Zcash are available to own and short on the eToro platform.
Do I own my cryptos?
By opening a new non-leveraged BUY crypto position you own the asset rather than a CFD.*
In addition, all old non-leveraged BUY crypto positions (opened prior to 3 September 2017) were upgraded to real assets on 13 May 2018 for all users except those under FCA regulation.
While eToro does offer real cryptocurrency trading, we will only be offering the option to transfer cryptocurrencies to a digital wallet later in 2018.
*Please note that all cryptocurrency trades opened by users resident in China and clients of eToro Australia Capital Ltd are CFDs.
If I copy a trader who is investing in cryptocurrencies, what type of position do I have?
If you copy another trader's crypto position, or invest in crypto via CopyPortfolios, the position that opens for you is the same as the original position - real crypto trades are copied as real positions; CFD positions are copied as CFD positions.Real trades copied by users resident in China and clients of eToro Australia Capital Ltd are CFDs.
Will eToro offer leverage on cryptocurrencies?
There is the option to use x2 leverage only on crypto vs. crypto trades (such as ETH/EOS or BTC/XLM). In addition, Club members at Gold, Platinum, Platinum + or Diamond levels have the option to use x2 leverage on Bitcoin, Ethereum, Stellar and EOS trades. We are not currently planning to extend this option to other users or cryptocurrencies. Please note that all positions with leverage are traded as CFDs.
Can I still short cryptocurrencies?
You are still able to open short (SELL) positions on the platform, however these will be CFD positions.
Can I withdraw my cryptocurrencies from the platform?
You are not able to move cryptocurrencies on or off the eToro platform, without converting into fiat currencies. Later in 2018, we will be launching the eToro digital wallet, which will enable you to transfer your cryptos out of the platform. Use of the wallet is subject to certain limitations specified in the applicable Terms and Conditions.
Are there Stop Loss and Take Profit?
On 15 December 2017 we decided to disable the option to edit the Stop Loss setting due to high volatility and inability to guarantee execution. The Stop Loss is now set to -100% so in effect it does not exist.
Since 28 March 2018, trades are opened with no Stop Loss and no Take Profit by default. You may apply a Take Profit order after the position is opened, according to the position rate or to a specific amount.
Are the cryptocurrencies regulated?
Cryptocurrencies are not regulated and so users will not be insured by the Investor compensation schemes in Cyprus or UK for these instruments when they own the underlying asset. Also, you will not be able to file a complaint with the Financial Ombudsman Service if you are not satisfied with our service, although we will do the utmost to resolve any questions or issues you may have. However, since Cryptocurrency trades which are CFDs are regulated financial instruments, you benefit from regulatory protections on these trades.
Please read our Addendum to the Terms & Conditions relating to cryptocurrencies on our website.