Is eToro Wallet Safe? UK Security Review [2025]
Quick Answer: Is the eToro Wallet Secure?
Yes, the eToro Wallet is secure. It’s FCA-registered, uses multi-signature technology, and offers two-factor authentication (2FA). Funds are held by licensed custodians. While it’s not non-custodial, it’s ideal for beginners seeking ease of use and protection under UK financial regulations.
- Minimum Deposit: $50 (via UK bank transfer)
- Trade and hold real crypto assets (not just CFDs)
- FCA regulated and compliant with UK crypto marketing rules
- User-friendly platform with social trading and mobile app support
- Ideal for beginners and casual investors entering the crypto space
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 61% of retail CFD accounts lose money when trading CFD’s with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What Is the eToro Wallet?
The eToro Wallet is a beginner-friendly custodial crypto wallet, directly linked to the eToro trading platform. It’s designed for users who want to hold, receive, or send crypto without managing private keys—ideal for UK investors already using eToro for trading or copy investing.
How Does the eToro Wallet Work?
The eToro Wallet is a custodial mobile app that lets users store, receive, and send crypto assets. It’s tied to your eToro account and managed by eToro’s licensed custodians. You don’t control private keys, but you benefit from simplified crypto management and security.
Custodial vs. Non-Custodial: What’s the Difference?
Custodial wallets like eToro manage your private keys, simplifying access and reducing risk for beginners. Non-custodial wallets give you full control—but more responsibility. If you lose your private key, you lose your crypto. eToro prioritises ease, regulation, and integrated platform security.
What Coins Can You Store or Transfer?
The eToro Wallet supports over 120 cryptocurrencies, including Bitcoin, Ethereum, XRP, and Litecoin. Supported coins can be transferred from your main eToro portfolio and sent externally. Compatibility varies by asset, so check the latest list on eToro before transferring.
Can You Send and Receive Crypto Easily?
Yes, users can send and receive supported cryptocurrencies with a few taps via the mobile wallet app. Transfers may involve blockchain fees and minimum limits. The app includes QR scanning, address copying, and transaction history for seamless crypto transfers.
Is the eToro Wallet Regulated and Insured?
eToro Wallet operations fall under the company’s regulated framework in supported jurisdictions. While crypto wallets aren’t FSCS-insured, eToro complies with data security and anti-money laundering rules, adding credibility. This makes it a safer option for UK crypto beginners.
Is It Covered by FCA or Other Authorities?
While the wallet itself isn’t FCA-regulated, eToro UK is registered with the FCA for cryptoasset business activities. This ensures AML and KYC compliance. Wallet functions are provided by eToroX, regulated by the Gibraltar Financial Services Commission (GFSC).
What Happens If eToro Gets Hacked?
In the event of a hack, eToro has internal risk protocols and custodial infrastructure designed to protect customer funds. However, crypto assets aren’t protected under FSCS. Users are advised to enable all security features, including 2FA, for added protection.
What Security Features Does the Wallet Offer?
The eToro Wallet uses advanced security measures, including multi-signature access, layered encryption, and secure internal protocols. While it’s custodial, security is managed professionally. It’s designed to offer UK users peace of mind while interacting with crypto through a familiar, regulated platform.
Is My Private Key Protected?
Yes, but you don’t manage it yourself. As a custodial wallet, eToro secures your private key on your behalf using encrypted storage and internal controls. This lowers the risk of human error, though it means you don’t have full, direct access.
Does eToro Use 2FA or Encryption?
Yes. eToro requires two-factor authentication (2FA) at login and uses strong SSL encryption for data transfers. Wallet services are protected by the same infrastructure as eToro’s trading platform, making it secure for most casual users and crypto beginners.
Pros and Cons of eToro Copy Trading
| Pros | Cons |
|---|---|
| Easy for beginners | Custodial (you don’t control private keys) |
| Regulated provider | Limited asset support |
| Built into eToro account | Not ideal for long-term holding |
Is the eToro Wallet Right for You?
The eToro Wallet is ideal for beginners, casual crypto holders, and eToro platform users who want quick access to sending or storing crypto. It’s not for those seeking full control or long-term storage. Choose based on your experience level and custody preference.
eToro is a multi-asset platform which offers both investing in stocks and
cryptoassets, as well as trading CFDs.
CFDs are complex instruments and come with a high risk of losing money
rapidly due to leverage. 61% of retail investor accounts lose money when
trading CFDs with this provider. You should consider whether you
understand how CFDs work, and whether you can afford to take the high risk
of losing your money.
This communication is intended for information and educational purposes
only and should not be considered investment advice or investment
recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your
investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a
high-risk investment and you should not expect to be protected if something
goes wrong.
eToro USA LLC does not offer CFDs and makes no representation and
assumes no liability as to the accuracy or completeness of the content of this
publication, which has been prepared by our partner utilizing publicly
available non-entity specific information about eToro.
Featured Broker
- Copy Trading
- User Friendly Platform
- Regulated & Trusted
- 30 Million+ Users
61% of retail CFD accounts lose money when trading CFD’s with this provider.
FAQs
Can I transfer crypto from eToro to another wallet?
Yes, but only for supported coins like BTC, ETH, and LTC. You’ll first move assets to the eToro Wallet, then send them externally. Transfers may involve blockchain fees and minimum limits. Not all crypto assets on eToro are eligible for withdrawal.
Is the eToro Money app the same as the wallet?
No. The eToro Money app handles fiat deposits and withdrawals, while the eToro Wallet is used for crypto storage and transfers. They are separate apps but linked to your main eToro trading account for a streamlined user experience.
Does eToro charge fees for wallet transfers?
Yes. eToro charges a blockchain fee for outbound transfers from the wallet, which varies based on network congestion. There are no fees for incoming transfers. Currency conversion fees may also apply when transferring across different cryptocurrencies or regions.
Is the eToro wallet better than MetaMask or Trust Wallet?
It depends. eToro’s wallet is easier for beginners, offering FCA-aligned security and no key management. MetaMask and Trust Wallet are non-custodial, giving more control and DeFi access, but with added complexity. Choose based on your comfort with managing private keys.
