Article in Edge below and seem to be reported by Bernama too.


eToro urges Malaysians to make side income in the digital age


KUALA LUMPUR (April 29): Since the Movement Control Order (MCO) has been enforced, Malaysians have been spending most of their time online and the Internet can be one of the best democratisers of opportunity for them to develop any potential skills and turn them into alternative revenue streams.

Social trading platform, eToro, has come up with a few suggestions on the ways Malaysians can earn some side income in the midst of the global pandemic.

Among the suggestions are by considering selling old gifts or items that may not have been used in the last six months and build their own networks using social media as an easy way to earn extra cash conveniently.

“Platforms such as Carousell and Mudah.my can be used for selling preloved goods while Upwork and Freelancer.com, being the international partners of Malaysia Digital Economy Corporation (MDEC), can be a platform that could help the people tap into potential customers,” eToro said in a statement.

Additionally, it urged Malaysians to consider trying stock investing as one of the ways to generate income and sign up for an online investment platform that offers tips and smart features, allowing everyone to get a hand in investing.

“This may be difficult to consider now, especially when you see stock markets worldwide are all in the red but start small. You only have to invest small amounts, allowing you to dip your toe in the water.

“Invest in what you know and what you’re interested in and for those who don’t have the time or knowledge to do it on their own, they can choose to copy other people's investment strategies on platforms like eToro,” it said.

The company also suggested businesses to rethink their strategies and take their business from offline to online as a way to keep the business alive.

“With the Internet, the world can truly be your oyster, all without you having to leave the safety and comfort of your own home,” it said.

Realising this can make a difference between a person being a victim of the current circumstances or coming out stronger and hopefully more financially sound, it added.

eToro is a social trading and multi-asset brokerage company that focuses on providing financial and copy trading services with registered offices in Cyprus, Israel, the United Kingdom, the United States, and Australia.


Sauce: https://www.theedgemarkets.com/article/etor...ome-digital-age

It is not blacklisted though.... but it is also not back by BNM....

7.5 out of 10 ppl who play etoro is making a loss.

If no Malaysia license so no.

So is it legal for local news to promote it to Malaysian readers if it doesn't have Malaysian license?

9 out of 10 ppl are loser what yr point ?

that one you ask edge. why they do that.

https://www.bnm.gov.my/index.php?ch=fs&pg=f...&ac=118&lang=en

This post has been edited by Phoenix_KL: Apr 29 2020, 07:33 PM

80-90% of people who trade CFDs lose money.

Better no need.

eToro is on SC's unlicensed entities watch list

Yesterday, an SC spokesperson said any person carrying out regulated activities in Malaysia without a licence from, or registration with, the SC may be liable to a fine not exceeding RM10 million or imprisonment not exceeding 10 years, or both, if convicted.

"Malaysian investors who deal with unlicensed persons, especially entities operating offshore, are not protected under Malaysian securities laws. They are also exposed to various risks, including fraud and money laundering, and may not have access to legal recourse in the event of a dispute," the spokesperson told theedgemarkets.com in an emailed statement.

https://www.theedgemarkets.com/article/etor...censed-entities

This post has been edited by Phoenix_KL: May 22 2020, 02:20 AM

can't remember who kasi me the warning... Angelic Layer?

Cyprus bucket shop lulz

Once I read Cysec regulated I know it is a bucket shop.
They will manipulate price to bust your stop and then say there is no liquidity, all sorts of excuse.
They are just scammers with a better mouth.

Go with proper broker with Singapore, US regulated.

Etoro trade dark pool, not actual market. With dark pool you won't know what is going on even though they assure you no foul play

This used to be dodgy as hell but I think no more riao because no more direct bank transfer.

Wait
No longer trading or no longer dodgy?

No more direct bank transfer option. Less dodgy but still BNM says no.

huh
so how to fund the account?

CC/debits basically kek. Bigpay still works, wise card doesn't work for some reason. Other options high fees (paypal, wiretransfer etc).

Huh
Thanks
BNM knows something we don't or just being cautious, that's the million dollar question...
Notably however I just read that etoro no longer going for listing
That has some oversight and regulatory impact I'm sure