eToro insures all customers up to 1 million euros for free!
When choosing a broker who can accompany your financial investment initiatives, it is important to rely only on the best in the sector, analyzing what services and security fees they are able to offer to their customers.
In this scenario, not everyone knows that eToro provides all its clients with free insurance purchased by Lloyd's of London , with coverage of up to € 1 million .
What eToro's free insurance covers
EToro's free insurance covers compensation claims from clients who suffer losses due to eToro's insolvency and in the event of defaults. Of course, we are talking about borderline cases: it is almost impossible for a big player like eToro to fail, as well as to follow up on defaults in its services. However, when approaching this area it is always good to insure against all eventualities!
We also remind you that the hedge acts on all assets held on eToro: therefore both cash balances and positions in contracts for difference (CFDs) and securities are covered. On the other hand, crypto-asset trading objects (not CFDs) are not insurable.
What are the levels of protection of eToro's insurance
eToro reminds us that there are three levels of protection that clients can benefit from:
- Assigned liquidator: in the event of insolvency the assigned liquidator will manage the assets of eToro and the distribution of money between clients
- Regulatory protection: FCA / CySEC regulations apply which compensate customers in the event of insolvency (up to 20,000 euros in case of CySEC coverage)
- Private Insurance: Provided by Lloyd's of London, the insurance coverage covers losses incurred due to insolvency, subject to an excess amount and up to € 1 million per customer.
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