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eToro.com Review

Overall Rating: (2.014)
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Total Reviews: 176
Last Updated: 2014-10-24
Description:

eToro is an online forex broker. eToro offers the OpenBook and WebTrader trading currency platforms. eToro.com offers currency pairs, gold, silver, and oil for your personal investment and trading options.

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James Bond, , Germany

Rating:
Date of Post:2013-01-01
Review: Well, I don't believe that eToro is a "scam", as some people say. Online Trading has inherent risks which people may not be aware of, especially newcomers! eToro appeals precisely to that segment however. Newcomers. And newcomers may soon discover that a: the FOREX is a very risky animal to play with & b: the online system is anything but reliable, or precise. eToro is of course a business and is in the business of making profit. It is not a charitable institution! Neither is the FOREX. Many may not be aware of the size of odds the FOREX can throw against even the best calculations at any time, Central Banks interventions, High Frequency Trading, Bull-runs - are just a sample! My complaints about eToro as a "brokerage", where I deposit my trust (i.e. Cash) are: 1. their admin appears to be in Israel, but this is NOT listed nor notified. Being in Israel, I would suggest implies some additional risks which traders should be aware of. 2. their accounts dept. does NOT work during week-ends. My account was "frozen" for "Verification" on a Friday p.m., a short while before closing for the w-end. I tried to deposit funds in order to pay for w-end roll-overs, but the deposit was not credited. I therefore had to sacrifice some positions in order to safeguard others. Eventually they "Verified" and apologised "for any inconvenience", but no compensation was offered! Why do they not "Verify" upon opening a new account ? Why "Verify" precisely on a Friday p.m., when there is no hope to complete such a process before closing and leaving a traders positions at high risk? 3. eToro trading hours are or can be severely prejudicial, since open positions can be at risk while the FOREX is active, but eToro is unavailable!! 4. Charges for withdrawing funds, as well as the time lag involved are unreasonable. Deposits on the other hand are supersonic! 5. The eToro platform is often slow and not precise, but that may be the case also with others.... 6. The spreads at eToro are expensive, but for anyone wishing to learn about this highly volatile, crazy and risky business, eToro is probably not a bad way to go. I would rather suggest finding an altenative way to be productive than playing this planet's wildest casino. But that is everyone's own choice. I will report on my further experiences with eToro!

Alvin, , Malaysia

Rating:
Date of Post:2012-11-05
Review: It is totally a scammer, their system not stable, and always take money from my paypal, weird!!!! Do not trade with this company, better choose those broker support mt4~~~ it is just a gambling and scam business.

rafia, pakistan, Pakistan

Rating:
Date of Post:2012-11-03
Review: They are a big scam. They took my money $1900 by a fraud. Please don't use them. They will eat your money.

nichess, Berlin, Germany

Rating:
Date of Post:2012-10-31
Review: To become a etoro trader it is soo easy - you just pay with paypal -
but to withdrawal the money they want copy of passport (color) copy of credit card (both sides) and a copy a recent Utility Bill. And than they charge you 25$ as well.

Also the Euro to Dollar exchange rate is very bad,too.

Finally the System executes Orders in a manner that you always lose one pip anyway. I made over 300 Orders and always observed that kind of behavior.

Collin, United Kingdom, United Kingdom

Rating:
Date of Post:2012-10-24
Review: I have been with Etoro for nearly a year. I will give my honest opinion. I enjoy their platform as it has a lot of inniative by simplifying matters so you can see clearly what you want to trade without to many complicated numbers and settings. regarding spreads and execution time it maybe a milisecond slow sometimes and spreads are fixed but not the lowest in the industry although perfectly adaquete.
The big plus is they have a copy trader which you can copy your best traders and watch a chart of their performance.

I have withdrawn money without any issues although they process it within three days as stated in their policy. I have made profits and withdrawn them to my bank account via wire since it can be classed as money laundering to withdraw to the card more money than deposited. (since then I have made some losses).

They are a regulated company in cyprus so I do not understand how people can review that they have not received their money! also when paying via paypal if you feel that something is wrong you can always do a claim and if they were doing anything wrong paypal would close their accounts! furthermore they are linked with an australian company called icmarkets which is regualated under asic australia equivalent to fsa in uk or cftc/nfa in usa.

I am overall well pleased and will carry on trading with them.

Mike C, Kuala Lumpur, Malaysia

Rating:
Date of Post:2012-10-05
Review: Although I have never taken out my money from eToro, but to speak honestly, eToro is really a terrible and lousy trading platform. No MT4 support, no lot size, and their bullsh*t live chart windows is always lagging and unresponsive which causes me to lose many trades.

And for their "unique" Copy Trader feature, do you think that every newbie or beginner should simply copy and just follow what the so-called "top traders" in eToro for trading? If everyone would do so, there is absolutely pointless trading Forex...

After reading reviews from many ex-eToro users and having bad experience with eToro, I quit and open a new account in Alpari instead.

1/10 ETORO, AWFUL AND SUCKS...
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Jackson, Melbourne, Australia

Rating:
Date of Post:2012-09-27
Review: So many bad reviews can't be wrong !!!

Don't Deposit Money with them unless you want to lose it !!!

And they wanted me to help them promote their Facebook $20 coupon !!! Get Real, do u expect anyone to make money from $20 as trading capital !!! That't not even enough to get started with Binary Options !!!

Overall which goddam broker charges such a fee to withdraw money PLUS a 5-10 days waiting time !!! ETORO !!! Most the time you won't even be able to withdraw the money !!! TOTAL BUCKETSHOP AND BOILER ROOM !!! Worst than going to the casino, its like contributing to the Etoro Scam Foundation !!!

Barry, UK, United Kingdom

Rating:
Date of Post:2012-09-18
Review: Just by way of an update to my previous post, please avoid depositing money with them. I am in the UK, supplied all supporting documents/id etc, and have been waiting weeks for my payout. The lack of communication is shocking, the excuses even worse. They claim to have sent my money - but i can assure you i've received nothing.

2012-09-10 1Star Avoid - if you are looking to deposit money think again! They are a terrible broker - the payout process is a joke - lack of communication and generally poor service. Don't even think about putting your money in their hands.

Forex Manger, Bangalore, India

Rating:
Date of Post:2012-09-14
Review: Etoro is more of like a Casino or a game. Not at all fit for Professional Forex Trading. The Platform is one of their major drawbacks. These people do not support the MT4 but have what they call superior but actually one of the worst web platforms.The Platform takes around 5 minutes to load. Another thing is there is no Lots and Lot size. You will have to choose the amount you are willing to bet. That' s not trading its Casino Poker. Ok now when we place the bet we also have to specify our profit target and the stop loss. See how much precious time and gruesome process it is. Once it is entered again it takes around half a minute for the order to be accepted way away from the price. Now add to this huge spreads and you are bound to bankrupt

Mariyan Kostov, Sofia, Bulgaria

Rating:
Date of Post:2012-08-31
Review: The are just terible broker... the server is down constantley on high volatility market and news a had an open position while the server was down do to Bernanke speach probabley my position hit TP while the server was down but etoro dident close it :D and the market goes against me the platform wok''s up and my trade hit my SL they are just hidious i never will put real money again...
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