Social trading platform eToro to end its services in the Philippines.
The Securities and Exchange Commission (SEC) has released an advisory against eToro stating that the online investment platform is “NOT AUTHORIZED TO SELL or OFFER SECURITIES to the public in the Philippines.”
If you’re a Philippine resident and use the said service, you might want to check your email for a notification from eToro regarding the imminent closure of your account.
Don’t worry, though, as the account will still be available until December 8, 2024, but with limited access. Users can only close all open positions and request withdrawal of their available funds.
Coin transfer services will be available until the 1st of December. After that, transfers of crypto positions via the service will cease.
Meanwhile, wallet access will be available until the 15th of December. All accounts will be gone by February 7, 2025.
This article, eToro leaving the Philippines, was originally published at NoypiGeeks | Philippines Technology News, Reviews and How to's.
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