eToro.com Review Visit site

Updated: Feb 20, 2020
1.773 · 204 REVIEWS
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About eToro.com

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Broker Details

Minimum Trade Size:0.1
Maximum Leverage:30:1
Minimum to Open Live:$50
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: Yes
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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1.773 · 204 REVIEWS
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Consumer Reviews

Cyprus,
Oct 21, 2018,
Registered user

Except from the spread they charge $25 fees just to withdraw your funds. Also the withdrawal request takes too long to be added in your card.
 
Freddie Smith,
London, United Kingdom,
Sep 28, 2018,
Guest

Never use this it has awful fees a 25 pound withdrawal fees and more recently cost me money in processing one of my trades incorrectly stay away
 
United Kingdom,
Sep 27, 2018,
Registered user

Avoid EToro at all cost!!

Avoid EToro at all cost!! cant withdraw money back to the same account the fund was deposited from... they asked me to goto my bank and confirm the account belongs to me! I have the card/statements, online login etc.. I have also sent proof of my passport/bank account (2 of them), credit card account, council tax account...

from the evidence I gave, I would have no problem proving my id to a tier 1 bank!
Etor takes your money in seconds but it will take months to try to get it back...
 
Amman, Jordan,
Sep 2, 2018,
Registered user

Etoro make you poor

My experience was bad with Etoro and there are many reasons.
Great manipulation of market price differentials.
The platform stops working in case of profit and the inability to close profitable trades.
Price mismatch with real market prices.
The business manager works on losing you in every way.
When the payment is withdrawn, the account is suspended due to violation of Etoro's terms.
A professional company to loss your money.
 
Italy,
Apr 29, 2018,
Registered user

I found it very very useful

I really don't understand why so hateful towards eToro. I see a lot of people complaining about things caused by their deep inexperience, the same complaints about things written clearly in the broker's contract.
As far as I'm concerned, the broker is one of the best I've tried. I've never had big problems or received damages, and even open tickets (on unnecessary things caused by my inexperience and misunderstanding) have been worked on. The social trading function is very important and innovative because it allows you to see and understand what other investors do in the world. You can exchange opinions, articles, intentions, ask for help ... you are not alone but you have continuous support due to the network of people you create.
As for the withdrawals on the large amounts take very little, on small sums like $ 200 employ more. The fact of receiving payment elsewhere is due to a specific clause of the contract that explicitly states that the payment will be received on the last account or card with which you made the deposit ... that's why if you make the last deposit with the credit card then the withdrawal is credited back there instead of to the bank account.
But I have to admit that the site suffered from delays in some occasions, it logs you out sporadically or it happened to read for a few seconds an error in carrying out a operation and make the page refresh necessary. Things that in my case have not damaged me and often resolved with a reloading of the site.
For conversion fees and spreads applied the contract is very clear in this regard but you have to read it very very carefully.
 
Zagreb, Croatia,
Feb 23, 2018,
Registered user

Steer clear!

Probably the worst customer support I've ever experienced in my life. With all the bad things they've done to their clients I'm just wondering why is it not yet flagged as SCAM? Anyway, would suggest y'all to stay away from this broker
 
singapore, Singapore,
Feb 5, 2018,
Registered user

Cannot even withdrawn using bank deposit.

Cannot even withdrawn using bank deposit. When i received email that the withdrawn was approved, but to my NOT ALREADY IN USE Credit card, in their reply is they will refund to the original methods of deposit, then the rest to the method preferred. . just know few guys also from singapore facing the same issues.
 
jim,
France,
Jan 28, 2018,
Guest

We should sue these scamming thieves, as soon as i get my money out!

Hi. I have been suckered in.
I put thousands of hours and $$ in already and they are just ripping me off left right and centre.
The list is huge! I am getting bored of repeating my story. I just want to sue these sons of bitches!
A quick rundown on how they are currently scamming:

Charts can become scrambled and sometimes hide patterns.
Spreads can slip as you are trading.

The site will not always let you close trades claiming an error, and this is usually as you are loosing large amounts of money.

The site will sometimes sign you out and the same happens as described above. You can't access your trades and it's always either when you are loosing money or could be making money.
Same story on both my home and mobile internet network.

Candlesticks sometimes ghost and the last two candles move strangely not just the last one.

Sometimes Portfolio shows trades in profit in green but when you close them they turn red and were never in the profit zone.

Sometimes when you try to add funds it says the process failed so you try again and again. I ended up transferring 4 or 5 times the amount i wanted to.

Trades vanish from the portfolio or change into other asset classes. Usually at the most inconvenient moments. $ at stake.

Customer service and chat either do not work or are unresponsive.

I left my phone number in a customer service ticket and started to receive scam calls from Tunisia.

The site is full of charlatans posing as customers but they have no time for customer service.

To be honest the list go's on and i would like to try to get my money back including what they cost me when the site was bugging and tricking me.

Unfortunately the USD has dropped heaps since opening my account and they required all money to be converted into USD.

On a side note i used my virtual portfolio to copy some of they top investors (through their copy trading feature). I did this because i was suspicious of these traders after looking at their portfolios which did not resemble anything a top investor would do. Like buying alt coins continuously through the crash for a whole month.

Sometimes the crypto coins would be hidden amongst a large portfolio. Almost all of the suspicious traders turned out losses this month.

This is not to mention the fees and spreads. the above is all scam worthy or simply put. It's criminal.

I am interested in suing these freaks to put a stop to this.

I have had a few run in's in the comments sections and i am sure they were with people working for eToro as the way they bullied me and belittled me was always the same story whenever i believe i met the etorians through their chat rooms. Another thing they will do is to always recommend that if things are not working out then you should try to copy someone. Which i was already suspicious of.
To be honest it was the copy feature that brought me to eToro.
Now i am wishing i had found a more honest platform.

Does anyone know what chances i stand of suing them? If not for me then for everyone else.

I am beyond angry and tired.
 
John,
Dublin , Ireland,
Jan 18, 2018,
Guest

Lodgement Problems and no customer service

I made a lodgement to my account on 17th January and it still hasn't been credited to my account. My credit card company confirm there is no problem with the transaction from their side. They said the fund's "need to be claimed" by eToro but this hasn't happened yet. What are they doing with my money in the meantime. The situation is becoming very worrying at this stage

I emailed my account manager Simon Peters and still no reply.

I rang eToro reception on 3 occasions to date and on each occasion nobody was available to discuss the problem. I left a message for someone to return my call. Still no reply

I will wait until the end of the day before making a complaint to the regulator to investigate what eToro is doing with my money
 
Jakarta, Indonesia,
Jan 8, 2018,
Registered user

Suspect of Ponzi Scheme, long time withdrawal period and crazy spike of minimal deposit in a month

I have requesting withdrawal from 3rd Jan 2018 and up to now, the process is under review, even though my account is verified . There is no explanation why they taking so much time in processing my withdrawal, while the T&C said 1-2 business days, except the excuse of backlog problem. They have contacted me in Saturday to verify my Skrill account as it is my withdrawal target, however until today, there is no update regarding when I will get my money, they only said it might takes 3-8 business day since the money left eToro to come to my account depending on withdrawal type. The problem is, they doesn't tell me when it will be left eToro. In their own forum, there are many thread regarding withdrawal problem, and it's keep increasing.

The second problem is their significant increase in minimum deposit, which by 20th December, it was 200USD (the time I started to use their service), and by the next week it increased to 500USD, and the recent news it is 1000USD. This increase on minimum deposit is without any proper explanation or sound argument, and the only one I can think of is this company have serious cash flow problem and start to use Ponzi Scheme to raise the fund. While in the short term it might solve the withdrawal problem, in the long run people will suspect something is not right and more will take out all their money and get away from eToro, such as what happen now, and in the end of the day the problem will getting worse.

So, I would advise you who have invest in here that would be better to change the platform, and for the one who haven't invest, stay away, especially if you trying to come to crypto trading, you can find another platform which gives better assurance and less headache in withdrawing money, such as Binance (as they start to open registration again on limited time period and random time), or other exchange.
 
Nathan,
Israel,
Jan 5, 2018,
Guest

10,000$ MInimum deposit - Insane

Ridiculous 10,000$ minimum first deposit, terrible support, lose all your money within a blink
 
Europe, Portugal,
Dec 27, 2017,
Registered user

Etoro no transfering back my money to my Paypal

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.
 
Netherlands, Netherlands,
Dec 26, 2017,
Registered user

Etoro is suffering from Crypto Growing Pains... please get your act together Etroro!

First the bad things:

Etoro is strugling the last few weeks to keep their site working, due to the Crypto currency hype the last few weeks of 2017, they have an huge influx of new members.. and they simply cant handle it! The social forum feed has issues, people complaining about huge spread (which is true) and not able to adjust stop loss (set by etoro to -100%) or close trades (left on pending)

Also more and more members are reporting issues with deposits and withdrawls, some reposrt deposits do not appear in their accounts and withdrawl requests are left on pending or disapear completely, leaving their customers in limbo...

But at the other hand Etoro has provided us with the information this might be happening upfront, by sending emails and posts on the Etoro feed.

The good news is:

I made some good profits trading Crypto currency with them and witdraw tripple the ammount that I deposited last summer using Paypal, and was in my paypal account within 2 days! (very good!) This was after the Ethereum bull run May 2017 to July 2017! Leaving my initial deposit in my account to trade more (so in fact my account quadroupled!!).

So I do not think Etoro is a scam, not at all, but they do suffer from growing pains and the huge volatility that crypto trading comes with.. So I do understand this can cause some problems.. and the huge influx of thousands of new members has its effect on the Etoro website as well, so it starts to squeek now and then..

But they promissed to scale up and problems will be solved in due time... But they really should get their act together within a few weeks (I would say the first month of 2018) to remain the trusted forex broker they have been since 2007. Otherwise I think many traders will bag up their funds and run! (some already do!)

So therefore benefit of the daubt, 3 stars!

A reaction from Etoro's FPA account manager on what we can expect the next few weeks, would be appreciated!
 
Unsatisfied user,
Switzerland,
Dec 10, 2017,
Guest

No withdrawal & No Customer Support

Trying to withdraw money on a verified account. It's been days and they haven't paid it out. I've been trying to reach out to their customer service, I opened a ticket, its been days without answer or update or anything, they have no phone to call and their live chat is down/not working. All I get is a facade keeping my money.
It feels extremely sketchy, I am definitely never using it again.
 
Mr,
G, France,
Nov 21, 2017,
Guest

Pretty interface but suspect account access problems.

eToro has a very shiny and pretty interface and their Research and Social aspects with Virtual practice account allow new traders to dip their toes into the muddy waters of financial trading -

However... eToro customer service is non existent. A recent problem of mine was only addressed once a Post thread I created began to receive lots of comments from people with similar problems. The customer service answer? File a ticket with Customer Support. I'm still waiting for a reply.

I noticed a sharp increase of problems just after the huge $OIL price dump early November and since then whenever US markets open eToro seems to be very inaccessible - people lose access to their accounts during market volatility so that eToro can harvest Stop-Losses and traders are prevented from opening or editing or even closing new trades.

Today my $GOLD position surpassed Take-Profit settings just after US markets opened except the TP did not trigger and as I write this 8 hours later - YES, 8 HOURS LATER! - I am still unable to edit or close my position but I'm sure once $GOLD drops the Stop-Loss will trigger.

I still wait for their answer.
 
United Kingdom,
Nov 21, 2017,
Registered user

Scammed me for $12k now going to Ombudsman

I have traded with eToro for 6 months but they have just shafted me for in excess of 12k. I went to 17 close trades totalling 3k profit . The market said "closed" at 8.57pm UK time (3 mins before official market close) so my closes didn't execute. Instead there was a pop up box asking me to check to confirm market exit order at market open next day. I unchecked and contacted support. No response. Account manager next day advised I opened a ticket. No advise given for days on what to do. Eventually etoro get back and said they cant investigate open positions. My trades closed out by stop loss and I sent etoro the 17 trade position I.D numbers for investigation. The first response from customer service was "you closed your trades at 9.00 pm and the market closes at 8.00pm". (It doesn't). And that then I " closed my exit orders & allowed trades to hit stop loss". My account manager "didn't advise" me to close the positions and said it doesn't matter how they close but positions can only be investigated once closed.
I escalated the issue to a complaint whereby a "senior customer service rep" took over and did a "thorough investigation by himself and management". A week later, still gave the same answer; I closed my trades an hour after market closed. (I didn't) I have the data on my browser history what times I logged in and clicked close trades. Either the market WAS closed a few minutes too early on eToro, OR there was a technical issue on etoro mobile which prevented my close from executing.
I now have a Final Response email from etoro stating that I closed at 8.00 GMT.
But after I and my account manager pointed out to the customer service rep that UK was in BST and market was closed at 9.00pm, the customer service rep rewrote the Final Response to say there was a confusion over time zones but he "checked the logs" & no attempt to close was made. Yet the previous customers adviser said I had "cancelled exit orders" , which cannot be done unless you go to close the trades.
I am $12k down and I cannot get anywhere with etoro. Every time I send evidence and screenshots it is ignored. I've been given conflicting advice, wrong information and the customer service reps are non compliant with procedures. Nobody knows what they are doing as repeatedly I asked for their complaints procedure and still to this day nobody has told me I've had to find out for myself. They refuse that there was an error but I know what time I saw when I went to close trades and the market was closed. This is now my word against theirs. I am lodging the complaint with Cyprus Ombudsman seeking compensation but I don't trust etoro to play fair at all.
 
Neckarsulm, Germany,
Nov 16, 2017,
Registered user

every time down when big changes on the market

Everytime down if Something big is happening on the Market. You can not sell or buy Position becouse you can not Login.
The spreads are bigger than on other platforms, so it is very hard to make a win. I am very unhappy and would change , but I Have some opened position in minis and have to wait until the are positive than will I change the broker.
 
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.
 
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.
 
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.
 
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.