eToro review- Social investing platform pros and cons and traders ratings.

I have been victim of SCAM 35.487,2$ since last 30th of March.
This is my experience:
I sign up on July 2021, eToro verified my account and position (they accepted I am temporarily unemployed as I am taking care of my father and to invest family money) and suddenly, when market started to fall eToro notified me on 14th January 2022 an "important verification on your account" message. After 3 months, after 9 months after the registration, eToro told me that my account has to be closed as my money provenance is illegal and as I cannot be a client and refund me just a 40% of my money, refusing to transfer my stock shares to another financial institute or bank.
Indeed, their Argentinian agent Tali Salomon proposed me to rest eToro client (with supposed illegal money) for a maximum term of 3 weeks more, but I refused to sign any scam agreement that would have increased all my risks, because my investment contract never contained a term, decided by eToro. I had to denounce all these happenings to CYSEC, CONSOB, CNMV, ESMA and Police.
Many victims are contacting me because of the 2eToro scheme of anti laundry policy".
PEOPLE REALLY TAKE CARE!

EToro has to be the worsed company there is. they basically stole 100 dollars i have and will not deposit and close the account. there customer service is no help at all . they winded up blocking my account and wont respond.

All my stock market was closed by etoro and I was told that my money will be refunded but still no luck waiting already for 10 days. Today I am not able to log in as my account was blocked as well. I just need my money back. Also nobody responds to may emails.

It has been common knowledge within the eToro community that their platform is totally unstable. For instance, very often we can't close nor open trades during the market opening session, which they claim is a limitation of the liquidity provider. We are also unable to login very often. You may need to keep evidence of your deposits, because the money often fail to be reflected in your balance immediately, for days. They will ask you to show them evidence of your deposit before checking it out themselves.

I can't remember how many times clients have complained that their customer service tickets have not been solved but have been marked as 'resolved'. I doubt they ever read your tickets.

If you ever publicly complain about their service, they may block your right to post permanently, and told you it is a technical problem they are trying to fix. If you try to introduce others to another platform, they will just flag your comment as spam and then remove it.

Im investing in etoro since 2020, My account was verifyied and my deposits where accepted really fast. I made some investments and made some profit and made the first withrawal with no problems.

Now im trying to witrhawal all the money and they had processed the payment but never received on my bank account, even asked the Bank manager and nothing pending. There is a ticket Nr 01519927 since 30 days and im not having any reply and still waiting my funds. Dont really understand why they take so long and no response.

What should I do ? Any help is welcome.

I received on the 27 November an email ETORO where my etoro wallet was blocked, I was asked my relation with a specificif bitcoin address.

I sent 200euros less or more of BTC, for the purchase of an iPad, which was regularly listed on an second had website, the seller, convinced me to pay via BTC, and I was stupid enough to let me scam, because I never received any item.
After some days, I received another email saying that ETORO were no longer able to offer me any service, that all my position would be closed automatically after 72hour.

Now this countdown is gone, my positions are still there, I sent part of the requested documentation asking details to give ETORO more, I sent something like 7 messages trying to settle the situation because I HAVE DONE NOTHING OF WRONG, I'm not a criminal!

BEWARE FROM ETORO

Bad customer service and when u open ticket to enquire something, they will just reply standard Automatic reply (like no reply) And then close the ticket / mark it as solved. Very bad follow up and slow in reply.
When u made profit, they will try to block you to withdraw your money even if your account is verified. I’m unable to withdraw my USD330,000.
Let’s file a dispute with ombudsman and see how to recover my fund.
They do manipulate trading data and close your trade when it is profitable.
I suspect they will just pocket all the deposit since 75% user are making losses with them.
All your investment in etoro will not go through any exchange when u traded. They just pocket all the money. So when u make money, u can’t withdraw. (You May withdraw only if ur sum is small).

From one day to another eToro announced it will cease its cryptotrading a month later for all Dutch users as they failed to acquire a permit on time. They blocked wallets, and dont allow for transfer of assets, and only allow us to sell our positions by the deadline date. Please stay away from this platform as they will throw their Clients under the bus due to their own incompetence

Im not saying eToro is perfect, but Ive been trading forex for 3 years now and have never had any problem with positions getting closed. Now there is probably some people here that have lost their money with eToro and I appreciate their reviews, but most people here are just people that lost their money because of bad management.

Like a position closing because a spread opened 50 pips, that is what all traders that use spreads do when there is a difference between askers and bidders, and if 50 pips closed your position maybe you were already very deep in red or should use less leverage.

Others say that they manipulate the prices to trigger stop losses, I have never seen this once, and I trade on 3 different platforms, eToro never varied significantly compared to other platforms. Prices can have huge volatility, the biggest record Ive seen is 200 pips in 5 minutes on the GBP/USD, and you have to prepare for such movement before opening positions.

I have never had a single problem with withdrawals, deposits or verification either, though it is quite annoying that they ask for so much information and their customer service is very slow if you dont deposit at least $10,000.

With that said, let me point the problems I had with eToro, that in no way mean they are scam. They have a very slow support team, although they usually solve your issues with no problem. No scalping allowed. They have a minimum $25 investing, which limit how I can invest my money. They also had a minimum 4000 units position but it has now been reduced to 1000 as standard by other brokers. They close the market 30 minutes early on Friday, not allowing for extra investment. You can only have your money in one currency, I usually keep it between AUD USD and GBP with other brokers, to avoid depreciation. They force you to put a stop loss at 50% the position and a take profit sometimes limited too during high volatility, like oil earlier this year. This makes it very hard to use 400x leverage and avoid doing unintentional scalping or having the position close too early. Withdrawals are sent to the last payment method used by default, and I cannot send it directly back to my bank to avoid fees. Their website and app lags a lot. The social feature is very lacking

With that said, my experience has been overall good with them, but I can only speak about forex and their copy trading system. If you are planning investing like that, I recommend the broker.

Opening account and depositing money is easy. Verifying account is impossible. I have sent color scan of all of my identity documents(ID, drivers licence etc.) and they reject it immediately. They have now closed all my open trades. I contacted client services but they take days to get back to you with vague/generic answers that don't help at all. So my money is now stuck and I cannot even trade it. Now they want me to deposit more money before I can trade again?! What kind of a scam is this?
Case Number: 01419843