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This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilising publicly available information. Certain behavior on eToro's social media such as organizing or executing coordinated strategies to trade or place orders at certain conditions and times to move a product's price could constitute market manipulation. For more information please refer to our Community Guidelines.

eToro Group Ltd., a British Virgin Island Company. Services on eToro Trading Platform are offered by different regulated entities of eToro Group:

eToro (Europe) Ltd., a Financial Services Company, authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10.
eToro (UK) Ltd, a Financial Services Company Authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
eToro AUS Capital Pty Ltd. is a company authorised by the Australian Securities and Investments Commission (ASIC) under the Australian Financial Services License 491139.
eToro USA LLC is a registered money services business with FinCEN, and holds money transmitter licenses in various states.
eToro (Seychelles) Limited is licenced by the Financial Services Authority Seychelles ("FSAS") to provide broker-dealer services under the Securities Act 2007 License no.SD076

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