RESOLVED - Etoro Inc. Issue

[BigT1]

Hello Rafia,
I must insist that despite broker pressure, you just append new developments to old ones, rather than edit the past.
What has happened, has happened.
What has been done, has been done.
What you have learned, you have learned.
What the Broker experienced here, has been experienced.
Creating such a trail and exposing it to the light of day is how FPA raises all from writhing in mire to repectablility, and how firms learn their responsibilites are not soley to themselves.
Just accurately document your experiences for all to see, and let each new impartial participant come to their own independent conclusions.
.
It works against the purpose here to revise your history or chew the cud.
We all can make our own conclusions, without you curling the view of the trail.
.
Your friend,
AI

 

[PaladinFX]

Hi Rafia,


I've read this thread over the last minutes, and now have to make a conscious effort to close my mouth ... and try to lower my blood pressure to a manageable level again.

What really got me going was this:

Quote from email correspondence remarks: After this I didn’t get any response and Mati Greenspan my account manager called me as said that forget whatever is happened in past and fund more money and then start trading…….

In other words: 'Just forget about us having buggered you and send more money, girlie ... so that we may do it all over again.'.

By no means should you amend or remove your earlier review ... Etoro (which in my personal view is not a 'broker' at all, but simply an online casino) fully deserves the bad marks.

The only reason why they've decided to refund you at all is that you've involved the FPA ... without that, you'd still be put off or simply ignored.

I'm happy that the matter seems to be resolved, and I hope you've learned from it that
a) you should not overtrade again and
b) you must choose your broker very carefully indeed.

All and any success at trading is worthless if you cannot withdraw your money; there are many cases like that, right here in the FPA forum.
Maybe you should check them out ... less stressful (and much cheaper) to learn from other people's experiences than having to foot the bill yourself.

I wish you all the best for your future trading career.


Cheers,
P.

 

[BigT1]

. . . forget about us having buggered you and send more money, girlie ... so that we may do it all over again.'.
. . . Etoro (which in my personal view is not a 'broker' at all, but simply an online casino) fully deserves the bad marks.
.
The only reason why they've decided to refund you at all is that you've involved the FPA ... without that, you'd still be put off or simply ignored.
I'm happy that the matter seems to be resolved, and I hope you've learned from it that
a) you should not overtrade again and
b) you must choose your broker very carefully indeed.
.
All and any success at trading is worthless if you cannot withdraw your money; there are many cases like that, right here in the FPA forum.
Maybe you should check them out ... less stressful (and much cheaper) to learn from other people's experiences than having to foot the bill yourself . . .

PaladinFx,
First, eToro is a registered entity in three jusridictions:
RetailFX - based in Cyprus and regulated by CySEC
IC Markets - based in Australia and regulated by ASIC
FX Solutions, part of City Index Group - based in the United States and regulated by the NFA
.
Second, Rafia did not overtrade.
.
Next, FYI Rafia is a mature business woman with a Masters Degree from a London University who travels internationally on business.
She has demonstrated a very strong will in standing up for principal, and then wisely sought assistance here when being mistreated, as well she should have.
I am certain she has gained experience and perspective as a result of her fourier into the wild world of forex; and is perhaps the least likely to repeat her earlier mistakes.
.
I've known many losing traders (all men) who failed to show her courage, tenacity, and self-repsect in navigating such waters; instead they wimped away with their tail between their legs or remain in denial that they were taken advantage of at all, just eating the loss and moving on.
.
Thank you Rafia for the priviledge of helping you in your journey.
.
AI

 

[PaladinFX]

Hi BigT1,


it looks like you have misinterpreted the intention of my above post.

It was actually supposed to be supportive.

Apparently you think I got carried away a bit ... and you might be right, too.
That last statement, the quote about her 'account manager' telling her to forget about having been taken for a ride and make another deposit, really got me going.

Also, I didn't realize that Rafia knew her way around business ... I took her remark about being 'just a poor girl' for fact (bolstered by the fact that she didn't know she should contact Etoro's dealing desk by phone if the platform froze).
In all honesty you'll have to admit, too, that her English and her style are not those of a typical holder of an MBA from London.
Thus I assumed her to be overtrading when I read about a USD 1,900 loss in oil (of all things). I'm sure you know one or two, or maybe six hundred (like I do), new traders who overtraded, opening 4-lot positions on 1:500 leverage with a thousand-bucks-account.

Anyways ... should that post have offended Raifa or you, please accept my apology.
I had no intention of insulting or belittling anybody.

Okay, back to business ...
I know that Etoro is a registered and regulated broker (or maybe one should say 'brokerage syndicate', since they consist of different companies using the same online platform).
What I meant to say is that I cannot consider them serious brokers because of the way they are conducting business.
It is more like an online casino operation, designed to lure people who have not the first idea of forex or trading (just have a look at the comments/questions on their 'Openbook') and to fleece them.
This whole system of 'Gurus' and their 'Followers' is a total mess, with inaccurate (not to use a less polite term) statistics and monthly payouts to 'Gurus', based on the number of their followers.
Sheep for the slaughtering block.
It's worse than Zulutrade, who at least attempt to provide some measures to protect hapless followers.

Both systems/websites are designed for those who like to call themselves 'forex traders', but who cannot be bothered to learn trading and would rather rely on dubios signals and magic EAs/indicators to get rich overnight.

lol, okay ... end of rant.

Raifa, once again I'd like to wish you success in your future trading endeavors, and ... no offence meant.


Cheers,
P.

 

[BigT1]

Hello PaladinFx,
.
Please accept these constructive criticisms in in the generous spirit in which I offer them.
Personally, I have appreciated your presence here and have seen merit in some of your other posts.
Let nothing I say deter you!
.
However, I believe in this case I have misinterpreted nothing. After reading your posts I understood intrinsically how based simply and soley upon Ravi's posts, you could have easily and unwittingly fallen into the trap of misjudgment, instigated by incomplete information. In such circumstances it is easy to make premature and presumptive judgements based on nothing more than intuition, personal bias, opinion, and conjecture. This happens often here on FPA.
.
This often leads to presumptive lecturism and an irresistible urge to foist upon someone unknown to you, your 'superior knowledge' in a condescending manner; while in the process engaging in age and gender bias, and taking no consideration for English as a second language. Just take a month and read 50 other randomly selected threads from top to bottom, and survey this assertion yourself.
.
Please do not take offense! I write this response soley to illustrate to the FPA Community just how easy it is is to offend the sensibilities of innocent posters, and the impacts members remarks can have. How does it feel when I do it to you?
Recognize we are all vulnerable to course abuse, as we all desire gentle treatment.
.
Ravi is Pakistani; and even though she is now well educated, she was not as worldly or fluent in English as you may have assumed when she engaged eToro in an efort to lift herself and her family up.
.
Personally, I need an accomplished Pakistani woman to help save this fitfull world; and I regard that even if she may be from a more fortunate family than most of here countrymen, we all need her to succeed, and hope she will follow in the footsteps of Benazir Bhutto and begin to reverse the cycle of war and pain.
.
I wonder how you would have done if you were born a girl in Pakistan in the 1980's, with Russia at your front door, India at your back door, and China knocking on your roof?
.
With all respect.
Your friend,
.
AI

 

[PaladinFX]

Hi BigT1,


don't worry, I'm not easily deterred.

Let's not discuss who might have misinterpreted what any further.
The important thing is that nobody, neither Raifa nor you or I, feels put down ... so all is good.

Important is that Raifa got her money back (well, at least a substantial part of what she felt she was entitled to).
So this website/forum and its members have accomplished their mission, hehe.

As this thread's issues have been resolved, I look forward to seeing what will happen with the two LiteForex scam alerts currently under discussion.


Cheers,
P.



__________________________________________________
There are no secrets to success. It is the result of preparation, hard work, and learning from failure.
(Colin Powell)

 

[rafia]

Well thanks a lot AI for all of your comments.

Message for PaladinFx,

I am a Pakistani, and my national language is Urdu, not English, so i don't have a full grip over English language. I studied in London as an ESL student. I run my own business, and for that I don't have to learn English i guess. If you can't speak urdu,then can i assume that you are not an educated person and blah blah...


Anyways, thanks a lot AI and under your supervision, i will prove to be a good Pakistani ambassador.

Thanks a lot

 

[BigT1]

Blessed are the peace makers, they will be called children of God

 

[Pharaoh]

If you can't speak urdu,then can i assume that you are not an educated person and blah blah...

میں اردو کی بات نہیں ہے.

Drat! So much for passing myself off as educated.


Ah well, as long as we're making progress on Rafia's issue, that's what counts.

 

[PaladinFX]

میں اردو کی بات نہیں ہے.

Drat! So much for passing myself off as educated.

Ah well, as long as we're making progress on Rafia's issue, that's what counts.

Yep, just my thoughts.

And comparing English with Urdu was good for a laugh.