eToro introduces 1 millions EUR insurance for all clients for free

I quote the email:

eToro Insurance Policy

eToro is proud to announce the launch of an insurance program for its clients. Starting on 01.11.2020, all eToro users will enjoy an extra layer of protection at no extra cost, that will cover their losses in case of insolvency — up to 1 million Euro.

This insurance policy is another indication of eToro’s commitment to its users and their well-being.

About eToro’s Client Insurance:

The insurance is offered to all eToro clients absolutely free — no need to register or apply to receive it.

The policy serves as an additional layer of protection, in addition to those given by a liquidator and CySec.

The insurance is provided by Lloyd’s of London, one of the world’s leading providers of specialist insurance.

The policy covers up to 1 million Euro per client (subject to the applicable Clients’ Disclosure).

IBKR is also moving to European licenced brokers for it’s EU customers and would need to do something similar for it customers to bump up the EU average insurance of 20.000 EUR

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If it’s via IBKR then surely 212 will be able to offer something similar?

Rich kid problems :hot_face: but would be nice to see it increase

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No eToro is not linked with IBKR, I just mentioned that on the side. Because T212 custodian is IBKR. And they sent an email saying EU clients will be moved to their new EU broker licenses. Which will limit insurance to only 20.000 EUR.

@cavanhagan haha I feel you man, but definitely would be nice to see increases.

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Hi @saifali
When did you receive the email ? I didn’t receive anything.
So it’s sure now ? EU customers are being moved to the bulgarian entity ?

@Enlil this post is not regarding Trading212. All their customers are with Trading 212 UK.

Ok my bad :slight_smile: I thought you received an email from T212.

So if I see this correct as someone who is using trading 212 in the Netherlands. I’m already on the Bulgarian entity so the Brexit won’t affect my account because they already separated it and most of the EU clients?

And I’m only protected up to €20000. I thought that everyone was protected up to £85000. Which is kind of a bumper for me.

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It might happens soon but so far everybody is on T212 UK, no movement were announced yet.

Per month? :thinking:

Well is a bumper for everyone, i thought that as well that all the clients are covered up to £85000 and the country doesn’t matter.
I can’t find on their site that only clients from Germany and Uk are covered that amount and the rest much less…
I don’t know what to think and if this is true…

What are you people reading to get this funky ideas? Nowhere in this topic does OP mention T212 covering 20k.

We are all covered by 85k GBP.

I didn’t know literacy was such issue in 2020…

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@wouter1182 I believe all their clients in the EU are under the Trading212 UK entity, hence they are protected up to 85.000 GBP or roughly 100.000 EUR.

@laguiar haha I wish it was per month, but it’s per user (note: not per account).

As @Vedran said all EU users are covered upto 85.000 GBP.

Will trading212 review this and increase the 85k GBP insured amount as I’m nearing that now and I’m sure lots of others are.

@mrbarnier That 85k is for cash in your account only all your shares are safe kept on separate account for each of us

Fantastic I didn’t know that. So regardless of the amount of stocks even if they are above 85k they are fully insured ?

And the 85k is purely for cash balances ?

Yes, hard to find anyone who would keep more than 85k in cash in his/her broker account so no need to worry, all your shares are protected either their worth is 1k or 1M doesn’t matter. If company go in some kind of problem, debt collectors won’t be able to cover any debt using your shares. You will just have to move your shares to different broker

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