eToro Review

1.725 · 229 REVIEWS
Updated: Jun 11, 2021 · eToro.com  · Is this your company?

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro

Broker Details

Minimum Trade Size: 0.1
Maximum Leverage: 30:1
Minimum to Open Live: $200
Established: 2007
Address: 24th floor, One Canada Square Canary Wharf E14 5AB London, E14 5AB, United Kingdom
Contact: info@etoro.com.au, +44-866-350-0881
Regional offices:
Regulators: ASIC #491139, CySEC #109/10, FCA #FRN 583263
Prohibited countries:
Trading platforms: WebTrader
Web Trading: Yes
Mobile Trading: Yes
Currencies: (45+)
Cryptocurrencies: (30+) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver, Other Precious Metals, Stocks, Oil, Other Commodities
EAs/Robots: No
Deposit Methods: Bank Wire, VISA, MasterCard, Giropay, Local Bank Deposits, Local Bank Transfers, Neteller, PayPal, Skrill, UnionPay, WebMoney, Yandex Money
Withdrawal Methods: Bank Wire, VISA, MasterCard, Giropay, Local Bank Transfers, Neteller, PayPal, Skrill, UnionPay, Yandex Money

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1.725 · 229 REVIEWS
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Traders Reviews

John Carry,
Cyprus,
Sep 23, 2008,
Guest

Hi, My name is John and I'm the manager for eToro partners.
I read Dixon's review and I thoguht that I might shed some light on the issue, which took place in an entirely different manner than the one Dixon described.
The user originally signed up to eToro On November 2007. our 'refer a friend' email promotion was launched on September 2008, and surprisingly enough - our dear user decided that mailing it to himself might get him the bonus.
While he may be excellent friends with himself, that's not exactly what we had in mind when we came up with this promotion...
How unlucky for him that our fraud department thought about the idea before he did and took the necessary precautions.

When the user realized that his fraud attempt is not going to work he switched tactics, as you can see by the "thats bulls***" quote he added, he used foulmouthed language that's not very appropriate when speaking to support personnel. I'll spare you the dozens of other curses and quotes, but you can get the picture.
As a last resort he threatened to publish the chat screenshots in relevant forums (eh, I guess that's what you just did, isn't it?).
Well, that's what I'm here for, just to make sure readers get to see the real side of the story.

eToro is the fastest growing Forex platform today, with the best partners program in the Forex world. We take great pride in the fact that we pay both our traders and our affiliates promptly and provide the best support service.
I invite you to visit eToro and take a look for yourselves, We have a special offer for new affiliates - get $100 into your real money trading account to test our platform.

Feel free to contact me by email in case you have any questions.
Best regards,
John Carry | Partners manager | eToro
john@etoro.com
 
Primoz,
, Slovenia,
Nov 20, 2013,
Guest

Hi all,

Recently etoro take me all my profit from trading $ 4866.44, and they say that i will never get back my money ,they say that they doesn’t support trading on market events,i have all mail and documents if somebody want to look,be careful with this broker!

regards
 
Jeff,
Cyprus,
Dec 13, 2009,
Guest

Hi all,

My name is Jeff, I'm an eToro representative and I would really like to address some of the issues raised here. First of all I must sincerely confess that I am shocked by some of the comments posted on this forum since for the most part our customers are very enthusiastic about our service. Then again, clients with no complaints are much less likely to post their opinion on lines.

Let's talk about the major issues raised here:

1. Technical problems: if and when the eToro software freezes - it does not necessarily mean that there is a general problem with the software or the servers. If it happens as many times as some of the people here described the eToro platform simply may not be compatible with your system. On my personal computer eToro works perfectly fine. Secondly, on the occasion that the eToro software does freeze I strongly urge you to go to the eToro online WebTrader where you can manage your trades out of your browser. Same thing goes if you find that the trade execution is slow. This of course also depends on your internet connection.

2. Customer service: our customer support staff is highly trained, friendly and professional. If you do not want to be contacted with updates and offers you can simply let them know and you will not be bothered again. Of course, on rare occasion, miscommunications do happen and we sincerely apologize for any inconvenience we may have caused.

3. Tactics: It is absolutely not in our interest to "screw" our traders, as one of the posters claims in so many words. That is simply illogical. eToro doesn't have a dealing desk, therefore the traders access the market directly. We do not make any money if the trader loses his account balance. The only money we make comes from the spreads - ergo it is completely in our interest that our traders succeed, i.e. make more money and open more trades. Whatever this poster may have heard must have been misunderstood. As for our back-end, I have no idea what this claim is about. It is absolutely safe and we have NEVER had security breach issue.

4. Withdrawals: eToro is operated by several reputable brokers - our company is not a broker but an IB. The withdrawal policies of these brokers vary and I strongly suggest that you always read the terms and conditions before deciding to open a real account. The withdrawal problems also may be caused by the bonus policy. Receiving a bonus always means that you have to trade a certain number of lots before being able to withdraw the bonus money.

5. Market orders: eToro is now developing a new version of the software with market orders which will be out soon.

6. U.S. traders: traders based in the U.S. cannot open an eToro account. They can however open an account at eToroUSA.com and trade with the eToro platform. eToroUSA is the IB for FXSOL. It is licensed by the CFTC and regulated by the NFA.

I hope this settles it. I would like to thank all the posters for bringing all these issues to our attention. We will certainly take your feedback into consideration and use it to improve in the areas where our service is found to be less than excellent.

Best regards,
Jeff McKenzie,
eToro Customer Service
 
Wendy Lager (Etoro affiliate manager),
Israel,
Mar 31, 2008,
Guest

Attention Adam: If your withdrawal issue remains unresolved, please contact me asap so that I can sort it out. wendylager@hotmail.com
 
Laura,
Limassol, Cyprus,
Jul 15, 2012,
Guest

Dear Rachna Bharti,

We've tried to locate your account but were unable to do so. Please contact us at social@etoro.com with details of your eToro username and the date at which you attempted to make the withdrawal. In general, our accounting team has notified me that the problem is not on our end, but on PayPal's and that eventually you will have to sort it out with them to have the money transfered to your brother's account. We will be able to better advise you once we have a look at your account.

Hop this helps, Laura
 
JM,
, Canada,
Apr 24, 2012,
Guest

Wow what can I say? A horrible first experience into the world of Forex.

The platform often crashes, the UI will often not respond to your input such as close position or stop lose changes. Opening and exiting trades are extremely laggy and can and will work against you. Any kind of short term trading is very risky with these guys as their trading platform can and will screw you.

The charts are garbage. They lack many features and don't zoom enough for a complete picture. I also notice major discrepancies between Etoros charts and other brokers charts. I had a few trades where one chart had me going well into green while Etoro had me heavy into the red. I double check everything multiple times and after confirmation, it was true I was being screwed. I have screenshots of this event.

If by some chance Etoro is honest and their software is just bad, they should FIRE their software designer's ass and have him charged with fraud! When it comes to peoples hard earned money, this trading platform is simply inexcusable!


ETORO JUST PLAIN SUCKS!

I highly discourage anyone from choosing these clowns, there is no way they are legit.
 
eToro official,
Cyprus,
Jun 28, 2010,
Guest

Dear FPA,

Our official policy is that we only answer as eToro. There may have been some staffers unaware of this who posted responses without telling us, pretending to be independent users. We are currently trying to find the people in question, but in any case we promise this will not happen again and we will only answer officially from now on.

As for the traders' reviews, we invite anyone interested in eToro to take the advice of Mike from Canada, and to go to our live WebTrader chat (you can do so with a demo account - takes seconds to create) - http://www.etoro.com/webtrader/start/, or check out our forums - forum.etoro.com, to see the general response of traders to our platform.
 
John Carry,
Cyprus,
Dec 4, 2008,
Guest

Hi All,
eToro is the fastest growing Forex trading platform, and as such we do our best to assist our traders with their eToro experience. Being the partners manager I am here to clarify any general questions you might have about eToro, but I am afraid I don't have the facilities to answer specific questions like stop losses or "the software shut down at the moment of my biggest winning trade".

In order to receive a proper answer for personal questions please email support@etoro.com, our support team is skilled and has the necessary data to help each individual trader and provide compensitaion if the trader deserves one.

I don't know the specific details about the articles published by padraid and ernest8fingers, but I have a small reply to Fat Freddy - if eToro is as you claim " is slow to update their quote... but when it drops, they drop just as fast" , well, according to that - someone could make a small fortune if he was to open the opposite (short) position, wouldn't he? just a thought...and an explanation why your theory makes no sense.

Please feel free to contact me if you have any general questions regarding the platform or interested in joining eToro partners, I will be glad to assist. In questions regarding specific trades please contact support@etoro.com and I am sure you will enjoy the advantages of eToro just like user Mike did.

Regards,
John Carry,
Partners manager
john@etoro.com
 
Maribor, Slovenia,
Jun 5, 2019,
Registered user

Be careful with eToro

eToro canceled all my positive (not negative) trades from 2019 with an excuse of an delays in pricing. I compared all the quotes with my Bloomberg terminal and I can say that all were in the range with quotes where eToro opened my position. I repeatedly tried to prove this to them but they do not want to listen if something is not in their favor Unfortunately, this is their relationship with a client in case client does not lose money (as most clients does).

Be careful with eToro, they manipulate with their quotes and if the result is not according to their wishes, they can easily cancel positive trades to Retail eToro users. Sad for a company like eToro as they earn enough from their big spreads and other commissions.
  1 trader has found this review helpful
confused by etoro,
Sydney Australia,
Aug 2, 2011,
Guest

I have been trading with this broker for couples of months, on and off. Sometime I was happy with their services but not always. It is of course good that they did compensation when there were problems with our trades and ultimately this had caused the lost. However, it could really take a long time to resolve a problem, without any reasons. I had my account manager gave me a hand to resolve the problems most of the time. I have currently a case problem and was told not to be able to get compensation. I contacted my account manager and he however ended up to request me to close my account if I was not satisfied with etoro. I found this is kind of rude. He just did it without discussing with me. He asked me to pull out all my trades and my account will be closed within 24 hours. If he is unhappy with me, I will be more than happy to change an account manager. I was not told what has happened but just to close my account. Could anyone please tell me whether he is doing the right thing? Or the etoro is just avoiding to make me compensation?
 

Frequently Asked Questions

Is eToro legit?

eToro Group is regulated in 3 countries.

  • eToro (Europe) Ltd. is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10.
  • eToro (UK) Ltd. is authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
  • eToro AUS Capital Pty Ltd. is authorised by the Australian Securities and Investments Commission (ASIC) under Australian Financial Services Licensce 491139

eToro possesses a virtual currency license in the USA and is currently rolling out cryptocurrency trading across the USA.

In terms of financial services, eToro is not regulated with any USA financial authorities.

What is the minimum deposit for eToro?

eToro requires a minimum first-time deposit ranging from $50-$10,000 depending on your region and country regulations.

  • In general, the minimum first-time deposit is $200
  • For residents of Australia and the USA, the minimum first-time deposit is $50
  • Funding your account via Wire Transfer, the minimum first-time deposit is $500.
  • For residents of Israel, the minimum first-time deposit is $10,000
  • For a corporate account, a minimum first-time deposit of $10,000 is required

Can I deposit bitcoin to eToro?

Yes, eToro supports sending or receiving crytpo to and from other wallets, provided they are supported by the eToro Wallet and in line with the applicable Terms and Conditions.