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Is Etoro prohibited in France? Quick response and essential points
No, Etoro is not prohibited in France. On the contrary, this broker benefits from an recording as PSAN ( service provider on digital assets ) with the AMF (Autorité des Marchés Financiers). trading services , especially on cryptocurrencies , to French residents. However, despite its notoriety as platform , you should know that its costs, in particular the Spreads , make the offer of Etoro less competitive for active crypto than other marketplaces. We will see in detail why there are better alternatives for traders focused on cryptocurrencies and how Etoro in France.
Table of contents
- Why wonder if Etoro is prohibited in France?
In some forums or discussion groups, we sometimes see wondering if Etoro is prohibited in France . This question comes from received ideas, rumors or partial information. Several reasons can explain it:
- The fact that Etoro is based in Cyprus and that it is regulated by CYSEC , because some users fear that Cypriot regulation is less strict than French regulation.
- Broker offer , which includes actions , CFDs and cryptocurrencies . The CFDs sometimes arouse distrust, especially among those who have already been victims of online scams.
- The existence of unregulated brokers that usurp the name of platforms in order to deceive investors.
In reality, nothing proves that Etoro would be out of law. The financial authorities confirm that the platform is not only legitimate but also recorded since 09/06/2022 (n ° E2022-038) for its services linked to active crypto in France. To check it, see the official AMF list .
Fresh and Spreads: why Etoro is not the most advantageous for cryptos
The main criticism made against Etoro concerns its costs, often deemed uncompetitive. Several costs add up for each transaction:
- Spreads : This is the difference between the purchase price (ASK) and the selling price (BID) of an asset, as defined by the platform itself, and not directly aligned on the real market price. In other words, Etoro applies its own margins, which creates an artificial gap between the two values. On cryptocurrencies , this Spread can be significant and varies depending on the asset.
- Conversion fees : The platform using the USD as a reference currency, any deposit in euros automatically leads to monetary conversion with associated costs.
- Fixed commissions : When buying certain cryptocurrencies (without leverage ), a commission of around 1% is applied to each order, according to the latest pricing grids published by Etoro.
When writing this article, we see that a Spread on Bitcoin or Ethereum at Etoro is applied unlike others like Binance or OKX , on which we interact directly with the order book therefore directly with other users, without intermediate costs.
Comparison with more attractive alternatives
Several platforms are positioned as direct competitors from Etoro for the purchase of cryptocurrencies. Here is a summary of what distinguishes Etoro from three very competitive platforms:
- Binance :
- Very reduced costs (0.1% on average on the spot, excluding promotions).
- Large choice of AltcOins (several hundred).
- DEFI , Launchpad, staking services and many derivatives.
- Registered PSAN in France, which allows official marketing actions and a regulatory framework framed by the AMF.
- Not necessarily the easiest interface to handle for a beginner
- Bitvavo :
- Bitvavo has two platforms, a platform for beginners with simplified direct purchase and a professional platform where we interact with the order book like on Binance and OKX. This makes it a very easy to handle platform for a beginner.
- On the simplified platform, its costs are among the most competitive direct purchases (around 0.25 %). The Spread is very rare and clearly mentioned by the interface.
- Over 300 cryptocurrencies available.
- Platform based in the Netherlands, also recorded PSAN in France.
- It is only available in Europe
- Okx :
- A very popular platform with the lowest trading costs, if not the lowest on the market (maximum 0.1 %), with high trading volumes and solid liquidity.
- Hundreds of pairs of available cryptocurrencies.
- staking, YIELD FARMING options and a very complete deffi module.
- First platform to obtain European MiCa certification in February 2025 allowing it to operate throughout Europe in addition to the many Asian countries which it is in particular.
- Not necessarily the easiest interface to handle for a beginner
If your goal is to reduce your costs and have access to a wide selection of active crypto, sites like Binance , Bitvavo and OKX prove significantly more suitable than Etoro. We invite you to discover our complete comparison of the costs of cryptocurrency platforms for a detailed overview.
What services offer Etoro?
The Etoro platform is often associated with social trading and copy trading. However, its offer is vast:
- Actions: More than 2,000 shares of large international groups, with the possibility of buying them in cash (without commission) or via CFD.
- ETF: Several hundred trackers to diversify in various segments (technological, emerging markets, etc.).
- CFD on raw materials, stock market indices and Forex.
- Cryptocurrencies: possibility of trading or buying “in cash” about 70 crypto-active. Note that Etoro is less rich in AltcOOS than certain competing platforms.
In the eyes of investors, Etoro has become a major broker, both for the scholarship and for cryptocurrencies. Its popularity grows mainly thanks to two specific features:
- Copy Trading: automatically copy other users positions. The past yields of certain “Top Traders” attract many beginners.
- A very intuitive interface, both for the purchase of actions and for cryptocurrencies. The dashboard, tracking tools and virtual wallet ($ 100,000) allow you to exercise without risk.
However, all these characteristics do not necessarily compensate for the importance of costs in the world of active crypto.
Advantages and disadvantages of Etoro for Crypto
For those who are interested in the crypto universe, let's summarize the essential:
Benefits :
- Social trading and copy trading: ideal for learning or drawing inspiration from more experienced traders' strategies.
- Simple interface, suitable for beginners, with a demo account.
- Registration with the AMF guaranteeing some regulatory security.
- Possibility to buy certain shares without commission, which may interest hybrid investors (crypto and scholarship).
Disadvantages:
- Spreads and higher, penalizing conversion costs which can quickly become penalizing.
- A list of limited cryptocurrencies compared to the main Cryptos exchanges.
- Withdrawal costs ($ 5) and sometimes “hidden” costs via conversion rates.
What is the place of Etoro in France?
To clearly say if Etoro is prohibited in France or not you must know the following facts:
- The company is registered with the AMF, which means that it is empowered to offer the purchase and sale of digital assets .
- Etoro has a European passport , resulting from its main regulation in Cyprus by CYSEC . By extension, this passport authorizes the company to operate freely in the member countries of the European Union, including France.
- Since its recording as PSAN , Etoro can offer its services on active crypto in a fully regulated manner.
Clearly, Etoro has solid status with regard to French law and is in no way prohibited. The objective of its PSAN is to protect investors by imposing legal and security obligations on the company: compliance with the LCB-FT system (fight against money laundering and financing of terrorism), procedures for verifying customer identity, clear information on risks, among others.
How is Etoro controlled by the AMF?
Since it is not prohibited in France , Etoro must submit to the rules of AMF and ACPR :
- Obligation to collect personal data on its customers, in order to meet the KYC ( Know Your Customer ) and LCB-FT ( fight against money laundering and terrorism financing ).
- Transparent information on costs , market volatility, risks associated with leverage , etc.
- Notification of French authorities in the event of suspected irregularity.
CYSEC regulations , in addition to its PSAN for the Crypto . Concretely, the funds deposited by users are kept on bank accounts , which limits the risks of embezzlement of capital.
Why has Etoro has a bad reputation with certain investors?
Despite its legitimacy and international scope, Etoro sometimes suffers from a mixed reputation. Several reasons justify this point of view:
- Some beginner investors imagine that copy trading guarantees success. When they see losses, they can accuse the platform itself rather than their choice of investor.
- Confusion around CFDs : historically, Etoro offered a lot of different contracts, offering a lever effect . This also increases risks and sometimes leads to criticism accusing the company of “pushing for consumption”.
- Domiciliation in Cyprus, often associated with unscrupulous brokers However, Etoro is one of the regulated companies that respect European directives (MIFID II).
- Its costs which can accumulate, not always transparent on the applied spreats.
In reality, the platform is not perfect, but it is serious, labeled and known worldwide. Hence the importance of emphasizing that Etoro has never been “prohibited” in France.
Practical advice to use Etoro in France
If you still decide to use Etoro in France, here are some good practices to limit your costs and optimize your experience:
- Compare the Spreads : always take a look at the Spread before opening a position in cryptocurrency . In a very volatile market, the Spread can widen strongly.
- Check the conversion costs : if possible, supply your account in USD directly. Several neobancs allow you to convert euros into dollars at a lower cost.
- Take advantage of the demo account : before spending real money, test your strategies on the virtual account of $ 100,000 offered.
- Limit the number of withdrawals : each withdrawal costs you $ 5. Try to group your withdrawals to avoid paying this amount several times.
- Avoid the high lever effect : whether you transform bitcoin , ethereum or any other active, the Ethereum considerably increases your risks. Even if the temptation of a quick gain is strong, volatility can quickly make you lose your capital.
Could Etoro be prohibited one day?
As long as Etoro continues to submit to the legal obligations imposed by the AMF , there is no reason to be prohibited. Since 2022, the broker has multiplied initiatives to comply and extend his catalog of active crypto . Its overall reputation (more than 30 million users worldwide) also plays in its favor.
safety and transparency standards AMF could sanction it, or even register on blacklist. This is for example the case of Bitget , Kucoin and Mexc . This scenario remains unlikely in view of its history, but it illustrates the importance of the French regulatory framework: any cryptocurrency platform that does not meet the requirements of the AMF risks a ban and dereferencing in France.
Conclusion: Etoro is not prohibited in France
There is no longer any possible doubt: Etoro is absolutely not prohibited in France and has the status of Psan , issued by the AMF . You can therefore legally create an account, file funds, buy shares or cryptocurrencies , and take advantage of social trading . However, this broker is not necessarily the most profitable for cryptocurrencies due to higher costs platforms such as Binance , Bitvavo or OKX .
If your priority is to minimize costs and have a wide choice of A ltc OOS or DEFI services, it is better to turn to specialist actors. Etoro seduces above all for the “ social ” aspect of his copy trading , the simplicity of his tools and the possibility of managing a portfolio under one account. It is up to you to determine if these advantages are worth it or if it is better to favor a platform actually optimized for the crypto .
Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment .
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AMF recommendations. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital .
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
