eToro is a well regulated Broker offering one of the most popular Trading platforms globally. Unfortunately, No, eToro does not open accounts to clients residing in Somalia, if you wish to Trade on Financial Instruments you will need to find another Trading Plaftorm. However, do not be disappointed by this. We have done the work for you and searched for a similar type of Broker available to Somali residents with access to CFDs on Financial Instruments (Forex pairs, Shares, Crypto and Indices). We believe that you will probably interested to check out XM's Trading Platform, which is a global Broker too, and a great alternative to eToro for Traders in Somalia.
XM: TRADING PLATFORM FOR TRADERS IN SOMALIA [AN ALTERNATIVE TO ETORO]
XM is a Forex and CFD broker with one of the largest market penetration rates because it provides a large number of currency pairs and CFDs on international financial instruments like stocks, indexes, metals and energy. These instruments are available through MetaTrader 4 and 5, two of the most popular Trading Platforms worldwide. XM has more than 2.5 million accounts from clients all over the world and is aimed at beginners and professional investors. A cool thing about XM is that it offers a USD 30 bonus for new accounts [The Broker doesn't require you to deposit money in advance]. So, go ahead, claim the bonus, and try XM, it is indeed a great alternative to eToro for local clients. By the way, opening a Trading account with XM from Somalia is quite easy, you just need to upload an ID (Warqadda Aqoonsiga or Passport) and a Utility bill through their App.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.