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.
When you open a non-leveraged Buy position, it is secured with the real asset as we purchase the tokens on your behalf and register them in a segregated account under your name. Once the position is closed, we sell the coins on your behalf, and the invested amount +/- any profits or losses are converted to fiat currency.
*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. The eToro wallet, which was released in the last quarter of 2018 and is being rolled out gradually, will enable eligible customers to store, transfer, convert, send and receive Crypto assets, subject to certain limitations specified in the applicable Terms and Conditions.
Are there Stop Loss and Take Profit?
It is important to note that whilst you own the underlying asset, the Crypto trading experience is effectively the same as CFD trading and the trades are subject to the same system configurations that apply to all other CFD trades on the platform. If a position has 'No SL', this means that the Stop loss is actually placed at 1 pip (0.0001 or 0.01), which is as close as possible to zero. As long as the SL is set to the lowest possible rate, the coin would have to be essentially worthless for the position to close.
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, applying a -100% to all non-leveraged Crypto Buy positions. In December 2018, we re-enabled the ability to manually edit the SL in response to ongoing feedback from our valued trading community. For more information about Stop Loss for Crypto positions, please refer to our blog post on the subject.
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.