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I'm looking into investing in eToro, and I'm concerned about understaing any risk involved besides the trades themselves.

An eToro representative told me that, since I live in the UK, I'm covered for up to £50k by the FSCS in case of eToro defaulting.

A few questions:

  1. eToro appears on the list of authorized institutions on the FSA website; do I need to do more checks?

http://www.fsa.gov.uk/register/firmMainSearch.do;jsessionid=b023908b7fde40efb453a5fc01c746a7.s6fNml1Ka38InBbv-ArJrwTPoNCNa30Ocybtah0IaNuIahiIbh0IaNfwmxiInxiObk9ynhvybMSHc30Ka2aToi5hch0Na2TSn7bvq70KawTAqQ4InQXQ-BjF8NaNbN8KbgbMnkrDqRfzqwbMnkrDqRfzqwbynknvrkLOlQzNp65In0__

  1. I'm not a UK citizen, but I am resident and pay taxes in the UK. Am I covered?

  2. Does FSCS cover me against fraud?

  3. What's the likely time to get my money back in case of default (fraudolent or not) of eToro? weeks? months? years?

  4. Is there any other risk I should be concerned about besides the trades themselves?

Thanks in advance

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