eToro scammed me, taking 7500 USD. Fraud.

RooKiED

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Sad case about this awful brokerage company called etoro.

After using etoro trading platform for two years, on March 30th 2017, I realized by myself that my account was completely blocked, strange situation since I had not been given any notice. I couldnt open new positions, withdrawals were automatically rejected. Panic! I tried to get in touch with the company but it was in vain, I was ignored every time. At some point I thought their servers had been hacked.

Many days later, on April 3rd 2017, I discovered almost 7500 USD had been silently wiped out from my balance. I got really worried. I attempted many times to reach the company’s customer support to get an explanation about what had happened since I did not have a single clue, but I was told nothing.

After being ignored by the etoro for more than a week (absolutely unprofessional!) I received the first reply from the company on April 7th, in which they took responsibility for both actions, alleging they had suffered delays on their price quotes during the days 20 to 24th of March 2017, alleging that I had supposedly used a strategy based on those delays and that, enabled by their terms and conditions, they had blocked my account and had taken the total profits I had made during those dates.
etoro only gave me the list of the trades that were apparently involved and refused to show me any other information. They further threatened to void all my transactions and terminate the relationship if this trading behavior continued.

This is total fraud. I was never aware of any delays during dates 20 to 24th of March on their platform, and I certainly did not develop a strategy based on them.
Can't get any more unfair than this.
 

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First, send an email to every address you have for eToro. Include the link to this thread. Ask them to come here and explain how they think your trades violated their rules.
 
Make sure to post an update in 3 or 4 days to let every know if they responded or not.
 
This is the only response Ive got so far.

etoro is trying to avoid coming here to give me the explanation I deserve.

response.png It is important to underline that, if the delays etoro claims they've suffered in their platform truly existed, etoro is at fault to begin with for not providing an accurate service. In effect, to throw such an accusation and take my earned money based on it.... I think a clear indisputable explanation is the least they can offer me. This was not a single trade, there were a lot of trades... during 5 days!! The least they can do is show the information on and demonstration of this behavior strategy or whatever happened with clear examples. And they have not done any of this. They are refusing to do it.
It only shows the lack of effort in fairly resolving these types of issues by etoro.
 
7500 is a fair handsome amount and i think you should try to discuss and sort out this issue with them in every possible way even if they ask you to settle out this issue directly. The response you pasted above seems too cold IMO!
7500 is a fair handsome amount and i think you should try to discuss and sort out this issue with them in every possible way even if they ask you to settle out this issue directly. The response you pasted above seems too cold IMO!
 
There are no other replies so far.
etoro keeps refusing to participate in this forum of discussion to clarify what happened in my case claiming they "can't discuss individual accounts on public forums" although the company has done this quite often in the past.
Iqbal V. Gandham managing director of etoro uk has shown me no intention nor interest in giving me the explanation I deserve privately nor publicly.
 
No replies from the company. Seems pretty clear etoro has no intention to cooperate on this matter.
 
Attention: read this!

I payed with paypal to put money in Etoro account
Everything was super fast
Buyed some of the stuff they are selling there

Now
I requested my money back to my paypal account.
They say: 24h to make this
ok, i was thinking probably someone need to look
35h later no transfer in my paypal
2 payments are pending to my Paypal Account:
Transaction ID: 727944
Transaction ID: 731561

Like the rest of the reviews here, Etoro looks to be a scam.
Already asked help to Paypal since Etoro stole my money.

I'll keep this updated once i get more information.
 
Attention: read this!

I payed with paypal to put money in Etoro account
Everything was super fast
Buyed some of the stuff they are selling there

Now
I requested my money back to my paypal account.
They say: 24h to make this
ok, i was thinking probably someone need to look
35h later no transfer in my paypal
2 payments are pending to my Paypal Account:
Transaction ID: 727944
Transaction ID: 731561

Like the rest of the reviews here, Etoro looks to be a scam.
Already asked help to Paypal since Etoro stole my money.

I'll keep this updated once i get more information.
It will be good if you can open a new thread in scam folder with the full details of your problem with them.
 
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