Etoro Scam ??

Gorman

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I opened up a large trade with etoro last week. I first saw that things were not going right when i did not receive the advertised spreed. Etoro spreed is shown as the buy price minus the sell. But the spreed received was 150% putting me under more pressure to close the gap. I decided to go along with the trade and argue the spread after i closed it.

Things take longer then expected to go to plan but a day later the trade turns positive and i decide to close it.
But i looked to my history to see my profit only to find that it was negative value.

The normal spreed was 15 pips i received 22 and when i closed it 30 pips in profit i still get a negative value where added up to around -5 pips.

I did receive a response from etoro along the lines of these things happen when you try to fill such a big position and we can not guarantee when there is not enough liquidity in the market. So when i see a price/profit on my screen it does not mean i am going to get it.

He said i do not have a case and these things happen. But do i have a case ?? please help
 
If you opened a very large position during a time of low liquidity, spread could widen and/or slippage could happen.

How big of a position did you open?
 
I guess a better question would be "is slippage in forex illegal ? " they have admitted it has happened but they don't see fault. Is this normal or should I challenge ?
 
Request your ticket to be escalated as official complaint and request a CySEC Reference number.

http://www.cysec.gov.cy/en-GB/complaints/how-to-complain/

They are market maker so "slippage" and low liquidity from providers is relative since they are your counterpart.

I also had a very bad experience and would not recommend eToro to anyone. I got them to react and recognize my problem when i started the process with CySEC and Financial Ombudsman however my issue was completelly different than yours.
 
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