eToro Allows Brazilian Users Access to All Assets, Excluding Forex CFDs
Brazilian users of the social trading platform eToro now have access to a wider range of investments. Prior to February 28, 2018, users in the Latin American nation who were onboarded could only trade cryptocurrency positions based on the Brazilian real.
Although they are no longer able to invest in currency CFDs, they can now also do so in stocks, exchange-traded funds (ETFs), and contracts for difference (CFDs).
“All products and services in Brazil are now open. The only exception is currency pairs which are disabled for this region,” eToro announced in an update published on its website.
eToro noted that it exempted forex CFDs in accordance with Brazil’s regulatory requirements, mentioning that “should this change in future, we will update you, as we always do.”
Furthermore, eToro said that Brazilian users can now use its copy trading function for their trading operations and contribute to its Smart Portfolios. However, eToro noted that they won’t be able to imitate currency positions.
Days have passed since eToro gave its American users access to a smart trading portfolio based on artificial intelligence. Retail investors can gain exposure to the equities of 12 high-growth American companies through the portfolio, which is labelled “InvestorAI-US.”
Several countries around the world, including Belgium, forbid trading in CFDs. However, they are constrained throughout much of Europe and authorised. While CFD trading on a variety of assets is permissible in the UK, the Financial Conduct Authority, the nation’s financial markets regulator, outlawed CFD trading on cryptocurrencies in 2021.
Americans are not allowed to trade CFDs in the US, although they are allowed to trade FX. In Australia, CFD trading is also legal but subject to rigorous regulations. The permissible leverage was reduced by the Australian Securities and Investments Commission in 2021 from 1:500 to 1:30.
You can read more about the leading social investing platform in our eToro Review.
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