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eToro.com Review Visit site

Updated: Apr 12, 2019
1.954 · 188 REVIEWS
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1.954 · 188 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Nick Young,
Quebec, Canada,
Jul 4, 2017,
Guest

Not a Scam, but a very bad company overall

Etoro is probably not a scam, but their business practices are extremely bad, plain and simple.

Reasons:
-Super nice customer service BEFORE a deposit is made. AFTER the initial deposit, customer service is just hell.
-Complicated process to verify account.
-Extremely difficult to WITHDRAW money. I do believe that any good financial-related company should make withdrawals easy once account is verified. eToro is just horrible in this area.
-BEING REGISTERED IN CYPRUS IS THE SAME THING AS NOT BEING REGISTERED.

Don't pick this company if you value your hard-earned money.
Don't TRUST the positive reviews (written by eToro employees).
Jens,
Netherlands,
Jun 12, 2017,
Guest

It looks like a good website until you want to withdraw your money and need the customer support for help. I'am waiting a month now to get my money back, but it's still not on my account.
khala1,
jordan, Jordan,
May 26, 2017,
Registered user

withdrawal problem

I've made 5 withdrawals starting in 25th of April, I waited till 10th of May, nothing received!
I told my account manager about that, then I've received email from etoro telling me that there was a technical issue and they solved it and I will receive my withdrawals in 5-8 business days.
After 9 business days I still not received any thing, so, I sent to customer service about this.
they told me that your withdrawals have been processed successfully in the 1st date that you made the withdrawal!
I don't understand how they told me in the 1st email that there was a technical issue delayed the transactions and in 2nd email they said that there wasn't a problem!
After this, I post on etoro asking about how to complain about this, and I blocked.
Rob,
Offaly, Ireland,
Mar 15, 2017,
Guest

Etoro, not a broker that I would recommend!!

I didn't stay with Etoro very long as I only took it out to join a signal provider, which is another story, however I decided to withdraw all my funds from Etoro, but found it very difficult to find how to withdraw funds, I ended up having to email support, after a few days they refunded my deposit, less €10 as a fee, this is the only broker I have come across that takes €10 fee on a Visa card withdrawal, not a recommended broker from my point of view!!
Also, to add to this, I didn't like the platform they had as I have been used to MT4!
Abe,
Toronto, Canada,
Mar 1, 2017,
Guest

They keep almost all the profit

I know this company is in ISREAL but damn they really really are cheap!!! PAMM accounts usually pay around 12% of gains to master investors, etoro refuses to use a percentage, and instead uses very very very low dollar amounts. You are also forced to stay at that super low amount for months. They offer you 50% rebate AFTER 6 MONTHS, you can get up to 50% rebate right away just by signing up and using cashbackforex and many brokers!!!!!
They also charge for withdrawals. And they limit the amount that people can invest in you. There is serious money made in people following professional investors. At etoro, the professional investor does not get it, the follower does not get it, so whos left? eToro!
P.S. I recall about 4 forex brokers closing and taking everyones money in recent memory, all were from isreal. This is the only broker I know of that is still operating.....for now.
If you choose to deposit your money with them, good luck.
iMusingKiMi,
Shanghai, China,
Jan 19, 2017,
Registered user

I'm surprised to see so many overwhelmingly negative reviews of eToro.
One thing I agree on is their OLD platform was MUCH better. It's now very "social" trading oriented and not like a professional Managed account.
However, you can still find SOME Good traders on there. It's not their fault if the traders are bad, but they obviously don't vet traders, which is unfortunate. Their support is also a bit dicey, but they do have some good traders and my portfolio is up overall.

Withdrawals also processed successfully two times, it does generally take 2-3 business days.

Not bad.
cosme,
cordoba, Argentina,
Nov 23, 2016,
Registered user

I'm glad I withdrawn my invested money and the remaining I have is just bonus

i used to be good some years ago, but it obviously started to decline using the philosofy of "always improving" they destroyed the webtrader and openbook melting them in the html5 sh**t they offer now,, I'm glad to be able to use "old webtrader" until now, but for sure it will be removed soon.. regarding the spread stuff they are too high and before the smallest gust of volatility spread grows 100%,, not to say the new slippage stuff that now is available as the footprint you leave on "openbook" can be modified on realtime, you are no longer able to set a Take profit rate that could men a gain above 100 percent of your invested amount, (it doesn´t matter if you planned for a year), and yo can't place an order with a high leverage but a distant SL so you won't be able to re-utilize your money when your position goes green,, all this cheats are for you not to be able to benefit from the money you borrow (but you still pay very high daily fees),, everything has been set to refrain you from gaining and make you loose money for everything that happens
Sohail Ahmed,
London, United Kingdom,
Nov 7, 2016,
Guest

eToro Scam - cancelled withdrawal

username: @justsohail ,,
Etoro Cancel my withdrawal of $1283 saying that they have terms of promotion that if you withdraw initial deposit we will cancel profits and bonus as well. there is no such term is still available in etoro promotion terms.
Received reply from etoro representative 'Anastasia' during chat.
''As stated in our terms and conditions, once you start trading, you are first investing your real funds. Once the real funds are either used up or invested into position, you start trading with the credits. According to our finance department, you have withdrawn the initial deposit which was associated with promotional credits, therefore we have deducted the credits and the profit as well'', Does this make sense? if I have withdrawan initial deposit etoro have a right to cancel any bonus related to initial deposit but not to cancel profits as well.
randomuser,
United Kingdom,
Oct 11, 2016,
Registered user

Once you join up they sell your personal details to other companies. You'll be pestered forever by cold callers trying to sell you investments and other s***. The site itself is ok as a learning area for beginners nothing more which is why I give 2 stars.
aaguillon,
Caracas, Venezuela,
Aug 31, 2016,
Registered user

Etoro stole money

Etoro was a nice platform some time ago. I have recently discovered they stole my money. A friend of mine who was stolen too told me that the bonus money they gave us for recruiting people was taken for etoro. The first thing I thought was: How could they know which money is actually a bonus and what money is from my own? Total disaster. Soon I will post about the withdrawal of the money I have on etoro yet. I hope that the rest of my money can be recovered. Some advice about all this? Thanks,
AA
Luis Ferreira,
, Portugal,
Apr 18, 2016,
Guest

Very displeased with etoro. When markets go favourably their way, they imediatly take effect, when its not, grafics stop...and become extremely latent...I always use metatrader to check up.
Other isue, last friday I set up an oil buy order, with a limit loss...surprise, surprise on this Monday when i saw all my money gone and negative credits...very unethical...dont use etoro!
ismail assoualma,
etoro, Morocco,
Mar 30, 2016,
Guest

Etoro is a a scammer they closed my account with 500$ after withdraw request, they tell me that i allowed a 3rd party to trade on my account, and this is allowed.
Mark,
Chester, United Kingdom,
Mar 8, 2016,
Guest

Etoro started out great but soon went downhill in my estimation unfortunately.The bonus money is damn near impossible to cash out, copy traders stats are minipulated and misleading and very few make any money in the long run, I had a rather large sum of money under a copy trader which experianced a large drawdown Etorro then prevented this trader from opening any more trades which ment he wasn't able to hedge the position and protect the account thus insuring the account blew and my money was lost, After speaking to various members of eToro's customer services I feel I was lied to as they changed there excuses many times. (The small print in there user agreement allows them to do anything they wish without notice) Be very aware and stay well clear of this broker. Also in times of high volitile market movements the platform very convenientlying goes down for maintainable which denies traders from being able to access there account.
Trayy,
USA, USA,
Oct 25, 2015,
Guest

Good company. Etoro has a clean user interface/trading platform. Legit, so far as I know.
Douglas Kanyi,
Nakuru, Kenya,
Oct 20, 2015,
Guest

I have used etoro for over a year now and i feel its a good platform. They process my withdrawal requests (to PayPal) within 24 hours, they have various promotions that allow me to get extra money when i make deposits and the platform is easy to use once i learned how to use it.

This is not to say that i didn't have problems with while using etoro. I blew all my investment within the first three months but this was due to using very high leverage and trading on hunches.
Laurence Slotow,
, South Africa,
Sep 11, 2015,
Guest

ETORO SCAMMERS! I invested US50 and now I want to withdraw they are full of stories.My money has shrunk, they have take U$5 per month because I have not been trading - this is illegal in every sense of the word & now I have US25 left, they will not refund me as you can only withdraw U$30 and above.
Ketchup,
Prague, Czech Republic,
Jun 26, 2015,
Guest

It is a same case as with Liteforex, I believe. (LiteForex has a policy limiting a trader's profits on news events and gap openings.)

eToro charged me 12%!! of my trade volume, for an overnight gap, that happend to go in my favor.

I can provide email from them, explaining why. Also, they have an explenation on their site:

[url]http://www.etoro.com/blog/markets/18032013/market-gaps/[/url]

I´am honestly not sure, if thats normal, but I wouldn´t say, I have experiented this with other brokers...
Ashley,
london, United Kingdom,
May 26, 2015,
Guest

They were good, but as they have grown , they have become arrogant and greedy, they changed many things. Increased the spread, increased the carry over fee, increased the price of trading and now increased the minimum trade amount Before you could have a $100 account and open $2.5 and $5 trades, to build up your account safely and to learn,, now as of may 2015 they have increased it to $25 , so no good for small traders and those with an account of less than $500., no good if your a new or small trader.. The greed and arrogance of this company is just amazing now dictating to you what the minimum is you can trade by increasing it from $2.5 to a hefty $25, I have closed my account and will not recommend them again
Evagoras,
Limassol, Cyprus,
Apr 21, 2015,
Guest

They closed my fixed position when was only 52% before from SL target, so i decided to not deposit money again to this site. They also charge $25 if you will withdraw all your money . This site also has take profit from spread.
FRANCESCO,
LONDON, United Kingdom,
Nov 17, 2014,
Guest

Israeli company with one thing in their mind ....to rob you.
Suspicious unauthorized activity on their platform is set to eat your capital.No explanation given and dropped communication.Filed a case.
Relentless obstructionism during withdrawn.You won t get your profit is the least.Is when you can get what is left out that is going to hurt.Filed another case on this matter.
for the love of God stay away from this lot they will turn your life upside down.
Disable person here loosing his health over etoro experience.
sadeq201218,
mansoura, Egypt,
Oct 23, 2014,
Guest

EToro company does not want to drag my winnings of them and change the terms of the agreement as it sees fit and I want to make a complaint against
The picture with me for my account please help me out
scam
rafat,
amman, Jordan,
Sep 19, 2014,
Guest

i will discribe them as short as they fooled and scammed my and i have one prove thats is desputed 50usd from them with help of paypal and i can post it if needed
username
donrj (they already blocked me and lost my trades bcouse of that)
still gonna take back my 2k usd
ISSAAD Ibrahim,
Mostaganem, Algeria,
Apr 23, 2014,
Guest

I declare that I was a user in the eToro platform under the username : chikh2012 and on the December 3, 2013 I received an email from eToro saying that I have not complied with the conditions of uses ( multiple accounts ) and that my account will be closed within 14 days. This period was given to modify stop loss and take profit of my two open positions to avoid financial damage and they said that this decision is final and irrevocable.
The day of December 18, 2013 after the closing of my account and my positions , I asked the support of eToro to let me withdraw the rest of my money but they refused because i have not complied with the conditions of use. So I explained to eToro support that I have already been sanctioned for non-compliance with conditions of use and they don't have the right to a second time because the decision is final and irrevocable and they have to let me withdraw the funds that I avoided the loss
After a few days eToro has informed me that i can not withdraw funds because the rest of my money is considered as bonus and a bonus can not be withdrawn so I explained to the support that I had a total amount of approximately $ 4,800 including a bonus of about $ 2,500 , and when my positions are automatically closed it caused me a loss of about $ 2,100 which must be removed from the bonus , and not from the real Money
A few days after eToro has informed me that I have never made ​​a deposit and I started trading by using a coupon of $ 20 and it means that i can't withdraw my profits so I reminded to the support that any user who used this coupon can withdraw his profits . EToro then told me that my case is different from the other users because I didn't respect the conditions of use , so I said to the support that they have not mentioned it in their final decision so they can't change it now .
As a result of the facts mentioned above I ask eToro to respect their own final decision to be able to withdraw my funds .

Screenshot of the final decision ( proof )
part 1 => http://img4.hostingpics.net/pics/475993emailpart1.png
part 2 => http://img4.hostingpics.net/pics/116128emailpart2.png
Muhammad Iqbal,
Pakistan, Pakistan,
Feb 4, 2014,
Guest

My user name is Madboy194 at etoro i started trading with them on $20 bonus and a worked really hard for an year after an year i submitted my documents for verification and those were accepted i changed my address by sending a proof of my id and it was accepted then when i request for withdrawal my account reached $200 + at that time they denied by saying you have to complete 10 lots when i chat with them i said i have completed 360 lots and they said it was a mistake we are sorry i again request for withdrawal and they reject by saying my documents were not accepted even they were asking me for a deposit to fully verify that means my documents were accepted but at the time of withdrawal request they started this lame excuse they requested for a passport i sent them they again rejects and asked for verified documents i sent them again my verified documents and they again rejects by saying our risk department didnot accept I want to tell you never trade with this scam broker its only wastage of time and they will never pay you your profit
TrueToro,
Worldwide, Germany,
Dec 4, 2013,
Guest

We would like to invite you to watch following trailer, if you want to know whats really going on at eToro, want to see the TRUE eToro and why there are countless eToro-Victims worldwide:
http://www.youtube.com/watch?v=KPw6_mJCTvk

TrueToro is some kind of specialized "eToro Peace Army" ;)
A non-commercial free speech website, which also links to ForexPeaceArmy. We spread the truth about eToro to the world, to prevent any more damage to their traders. You are all welcome and any support and help is appreciated (especially from FPA itself)!

Thanks a lot and only united we stand versus all the scam and unreliable (wannabe-)brokers!