>open account on eToro and zero-fee IOU apps because the UI looks easy
>buy shares thinking you own equity in the company
>read section 8 of the custody terms: you hold an unbacked internal IOU that cannot be transferred via ACATS or DRS
In crypto everyone knows "Not your keys, not your Bitcoin." In equities it's the exact same rule: "Street name IOU is not your stock."
When you hold inside an internalizing CFD/IOU broker, your purchase never hits the lit exchange and the omnibus pool is used to satisfy locates for synthetic shorts. Moving 250 shares to Fidelity and registering in Computershare (DRS Book) takes real supply off the table.
Closed my eToro positions in batches and rebought on Fidelity the same day, then sent them to Computershare Book. Best financial decision I've made.
ExitEtoro!tL5DCGxy | ID: 7deae850 | No. 234 | 2025-04-12 16:07:17People forget eToro literally forbids outbound DRS and ACATS transfers. If you can't transfer an asset, you never owned it in the first place.
LitRouter!bGlmk3nn | ID: a362556a | No. 235 | 2025-04-12 17:46:56