This notice provides you with information about the risks associated with investment products,
which you may invest in through services provided to you by eToro Group entities. eToro
provides a wide range of investment services in relation to a number of products through its
regulated entities eToro (Europe) Limited, authorised and regulated by the Cyprus Securities
and Exchange Commission (CySEC) and eToro (UK) Limited, authorised and regulated by the
Financial Conduct Authority (FCA).

Investment products offered by eToro include contracts for differences (CFDs) whose underlying assets
are currencies, stocks, commodities, indices, exchange traded funds (ETFs) and cryptocurrencies. Any
transactions relating to cryptocurrencies where eToro offers you leverage (which is not available
currently) or allow you to enter into short transactions and/or all Copytrading transactions (including
Copyfund) relating to Cryptocurrencies shall be CFD transactions.

eToro also offers investors the opportunity to buy cryptocurrencies (i.e. buy transaction for
cryptocurrencies in leverage 1), hold such cryptocurrencies and subsequently sell such
cryptocurrencies all subject to the Cryptocurrencies Trading Addendum. These are not CFDs and,
unlike CFDs, are outside the scope of our regulated investment services and accordingly you will not
benefit from the protections available to clients receiving regulated investment services

All these products carry a high degree of risk and are not suitable for many investors. This notice
provides you with information about the risks associated with these products but it cannot explain all of
the risks nor how such risks relate to your personal circumstances. If you are in doubt you should seek
professional advice.

It is important that you fully understand the risks involved before deciding to trade with eToro and that
you have adequate financial resources to bear such risks and that you monitor your positions carefully.

Trading involves risk to your capital. You should not invest money that you cannot afford to lose,
however you cannot lose more than the equity in your account.


CFD stands for “Contract For Difference”, meaning you are not buying the underlying asset, but rather
purchasing a contract to settle the difference in the initial and ending price of the asset. When trading
CFDs, you generally trade on margin, which means you only have to deposit a small percentage of the
overall value of your position. This is known as “Leverage”, and even small market movements may
have great impact, negative or positive on your trading account.

If the market moves against you, you may sustain a total loss greater than the funds invested in a
specific position. You are responsible for all losses on your account up to the equity in your account.
Before deciding to trade on margin you should carefully consider your investment objectives, level of
experience, and risk appetite

Our CFDs are not listed on any exchange. CFDs involve greater risk than investing in on-exchange
products, as market liquidity cannot be guaranteed and it may be more difficult to liquidate an existing
position. The prices and other conditions are set by us in accordance with our obligation to provide best
execution as set out in our order execution policy, to act reasonably and in accordance with the
applicable Terms and Conditions. The characteristics of our CFDs can vary substantially from the actual
underlying market or instrument. Full details of all of our CFDs are set out on our website.

In respect of corporate events with respect to the underlying assets, We do not aim to make a profit
from our clients from the outcome of corporate events such as rights issues, takeovers, mergers, share
distributions or consolidations and open offers. We aim to reflect the treatment we receive, or, would
receive if we were hedging our exposure to you in the underlying market. Ultimately however, you are
not dealing in the underlying market and therefore in relation to our CFDs the treatment you receive
may be less advantageous than if you owned the underlying instrument.

CFDs are not suited to the long term investor. If you hold a CFD open over a long period of time the
associated costs increase (such as overnight fees), and it may be more beneficial to buy the underlying
asset instead.

Sudden market movements, known as “gapping” may occur, causing a dramatic shift in the price of an
underlying asset. Gapping may occur when the underlying market is closed, meaning the price on the
underlying market may open at a significantly different level, and at a less advantageous price for you.

At all times during which you have open positions, you must ensure that your account meets Our margin
requirements, which may change from time to time. Therefore, if our price moves against you or if our
margin requirements have changed, you may need to provide us with significant additional funds to
meet your margin requirement, at short notice, to maintain your open positions. If you do not do this,
we will be entitled to close one or more or all of your positions and You alone will be responsible for any
losses incurred as a result.


Before we open an account for you, we are required to make an assessment of whether the product(s)
and/or services you have chosen are appropriate for you, and to warn you if, on the basis of the
information you provide to us, any product or service is not appropriate. If you decide to continue and
open an account with us, you are confirming that you are aware of and understand the risks.

Position Monitoring

You should further ensure you are able to monitor positions on your account at all times, as you are
solely responsible for this. We are not responsible for monitoring positions on your account.


Although the eToro trading platform is automated and we are giving you the best execution available,
it is possible that the market price could have changed between order placement and execution time,
and therefore we cannot guarantee that the price requested will be the same as the price that the order
is executed, the price you receive can be in your favour or against you.

To limit losses, we require you to choose ‘stop loss’ limits. These set limits to automatically close your
position when it reaches a price limit of your choice. There are however circumstances in which a ‘stop
loss’ limit is not fully effective – for example, where there are rapid price movements, or market closure.
In addition, there are risks associated with use of online deal execution and trading systems including,
but not limited to, software and hardware failure and internet disconnection.


eToro offers Social Trading Features. In making a decision to Copy a specific trader or traders and/or
follow a particular strategy, You must consider your entire financial situation including financial
commitments and you understand that using Social Trading Features is highly speculative and that you
could sustain significant losses exceeding the amount used to copy a trader or traders. The risks
associated with Social Trading Features, include but are not limited to, automated trading execution
whereby the opening and closing of trades will happen in your account without your manual intervention.
You can read more about the CopyTrading risks here.


Automated Trading & Internet Risks

While trading on our website and/or applications, system errors might occur. You should be aware of
the risks that may result from any system failure which could mean that your order may be delayed or
fail. You should also be aware of the risk of malicious software introduction, and the risk that third parties
may obtain unauthorized access to information and/or assets (including your Cryptocurrencies) stored
on your behalf.

Fees and Costs

Our fees and charges are set out on our website under the ‘Fees’ section. Please be aware
of all costs and charges that apply to you, because such costs and charges will affect your profitability.


Any opinions, news, research, analyses, prices, or other information contained on this website are
provided as general market commentary, and do not constitute investment advice. eToro shall not be
responsible for any loss arising from any investment based on any recommendation, forecast or other
information provided.

Past Performance

Past performance is not an indication of future performance. The value of investments can go down as
well as up.

Currency Risk

Your account with eToro will be held in USD which may be different from the currency you used to
deposit, accordingly you should be aware of currency fluctuations.

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