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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
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Bangkok, Thailand,
Nov 22, 2013,

I had trades open which were in loss so I tried to deposit additional funds to cover my trades and move SL and let them run longer but when I tried to add funds the funding page would not open. I kept trying for about 15 minutes and kept getting the same error message. I spoke to them on live chat and they said re-log in or refresh which I did 5 times but still nothing. Finally when my trades hit SL, it suddenly let me add my funds (which I did not do then as my trades were closed)
When I contact etoro they say they have no record of my deposit which of course they would not have as their system was down. They also fail to mention that their live chat rep told me their funding system was down at the time and they are now denying this.
I am still in conversation with them and will escalate this to traders court if they do not start telling the truth...will update in coming days
, Slovenia,
Nov 20, 2013,

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!

Calgary, Canada,
Oct 24, 2013,

I added funds using paypal into my etoro account. However, even a week later the funds didnt show up on any of my two etoro accounts. I contacted Etoro to inquire and they stated they never received the funds. I contacted paypal and opened a dispute. Paypal sided with me and refunded my money when they didnt hear from Etoro for 2 weeks. After that, I trying to deposit money again using paypal and I see that my Etoro accounts have been suspended. I inquired as to why this has happened and Etoro comes back and asks me to cancel the dispute I had opened and they will process the payment in my account. Are these people this incompetent that they dont understand how Paypal's dispute resolution works? Once a dispute has been "settled" by paypal, there is nothing anyone (payor or payee) can do from their side. I am going to go to another forex broker for good. what a bunch of incompetent people do thay have working here. Wish I read the scam reports earlier and didnt open an account with Etoro.
Nelspruit, South Africa,
Oct 7, 2013,

While I don't think they are a scam site, they are pretty useless as a forex platform. The copytrader system doesn't quite work as intended, since people can get a margin call while the original trader can just fund his account more. But there are ways to deal with that like taking over the trade yourself, so it is just an inconvenience you have to manage. There is also the laggy servers, the delay between closing/opening, which is again very annoying, but again you can work with it, but have to compensate, another inconvenience.

After that, when I finally tried to withdraw money from them, they flat out refused to wire it to me, and kept sending it to my Paypal account, even though there is a send via wire option which I tried to use every time, and they just kept sending it to paypal. When I asked support about that, they said it was because I deposited via paypal, and if I wanted to withdraw to a bank account, I would have to first pay in via a bank account. Basically I have to send them the money first via a way, to be illegible to withdraw it that way.

Now the only reason I paid in via paypal is because I didn't feel like waiting for the bank transfer to clear, prior to that I never used my paypal account, and didn't want to have to verify it and link an account to it. I don't understand why they refuse to let you withdraw the way you want. But again I suppose it's just a massive inconvenience to me, since I can do all the legwork and connect paypal to my bank account and have to work around their useless system.

So all in all, flawed system, delays when trading, and problems withdrawing the way you want. You can use Etoro to forex, so it is not a scam, but you have to jump through a couple of hoops every day to get anything done.
Lisboa, Portugal,
Oct 6, 2013,

Have a bad experience with etoro.
It started with the verification of my account. Take more then 3 weeks and a lot pushing of live support (my emails to support didnt have any reply) and still not fully validate, they keep request documents, declarations of my bank with specific items. Have send all types of printscreens: identification, bill,credit cards, transations list, dont understand why. Anyway, got bad luck on the week of fed tapper and etoro decided to lock any of my deposits, result a lost of almost of my trades. Don't feel like scammed, but on my opinion very convenient to them.
My review goes to 2 stars because of ther support and the platform.
Support not reply to any of my emails, bad thing.
Platform freezes often when high volability, some of the time was logout a trying login 5 min. Very slow on opening trades. Oh, somethimes when open a trade, eats 1 pip after applying ther spread.
Santiago, Panama,
Jul 22, 2013,

Their webtrader platform is horrible. Their server is so slow and can't handle requests properly. They freeze your platform in the middle of serious trades. I couldn't change the SL so I lost $240 with them. I was about to change my stop loss for two positions.
I entered the value in the box and clicked ok when the system kept delaying ('small' globe icon was rotating).
I couldn't click anywhere at that time. Everything was disabled!!!!
I was waiting and waiting several seconds the icon disappeared but at the sudden I see that my position reached the stop loss and I just lost my money. I have proofs.
It was very strange. I had them investigate this matter because I had proof and I was requesting immediate refund.
I attached two images as evidence of my issue but they responded me with a totally different issue. It was like talking to a wall. They admit their faulty system because people are refunded time to time but like for $6. Can you imagine that?
Manila, Philippines,
Jul 21, 2013,

I was one of the idiots who signed up with them and always wondered why some of the traders complained at the spreads, execution etc. And how they would advice me not to just be contented in copying/trading the "Gurus" and instead look for a real broker with tight spreads use MT4 instead because it has far more superior charts

Open Book is great though!
James Ellis,
Southport, United Kingdom,
Jun 16, 2013,

As a follow up on my last review- Etoro has offered to refund some of my loss, but is insisting that there was no technical failure of issue on their end. However; due to the fact that I complained, and or contacted Cysec about the issues, they will close my account citing: "Due to the nature of your claims the company has decided to close your account and to credit your bank account with the above compensation amount in addition to the remaining balance in your eToro trading account".

2013-05-27 1Star Sync issues with the copy system means that stop-losses are not adjusted when the Guru you copy adjusts them. This means the SL is reached before the GURUs does- thus you lose when the guru does not. Any trade under $0.20 is not placed- thus if you have a small account, you will automatically be out of sync. The system works by mirroring the trading of the guru. You chose a guru, and allocate an amount of your capital- max 20 % per guru. Say you have $100 and guru works with 1000- a $100 trade to the guru would be copied as a $10 on your account. The stop-losses and profits should all be adjusted by the guru.

Here is the issue- once you allocate money- if you take even part of it away, or add any the system will be out of sync and you can lose money (lots)- the guru may not lose a penny- as his SL are adjusted to the required amount.

The flaw has been acknowledged several times- however they have refused refunds for the sync issue as they claim money has been removed/added to the copy system. They implemented a new system- I used it and made no changes- I again lost a lot of money when the guru did not lose a penny.

Their explanation- their instructions to copy a trader with all trades open does not work- but still no refund.

I would not invest any money until you have assurances that the copy system is fixed.

2013-05-23 2Star Etoro has fair charges, it charges over the weekend as opposed to roll over so in this respect you can save money when you hedge. However, at this minute their copy system is plagued with bugs. On many an occasion the system which mimics gurus trading has gone out of sync- resulting in a loss for many users. They changed the system, asking for people to manually take over trades, and restart copying (requiring an injection of capital and time). I was one that did this with someone using an hourglass system. Following their rules as directed. After less than a week it was evident that accounts were out of sync, meaning some trades were missed off, and stop-losses were not adjusted. Management were made aware of it and acknowledged a flaw and claim they were working on it. Two weeks down the line, no change and many many losses as a result of it. I would not write this review if I had not had such dire feedback from customer service. When I asked for a refund from the previous three times that the same thing has happened, I was told that that sync issue was caused by one of the following:
1.) addition of funds to a copied account
2.) removal of funds
or 3.) detachment of a trade.

Long story short, if you wish to withdraw money from a trader for safe keeping- as is good practice- the copy system will go out of sync and you may lose a lot of money.

If you notice it is out of sync and try and add or detach a trade to manually take over- it will be out of sync. If you perform any one of these actions- they will wash their hands of any claim you have against them for their faulty software and any loss will be met with a smirk and nothing much else.

Just for the reccord; when these losses occur, the person that you are copying adjusted their stop-loss and made no loss. The copy function is proportional so if Joe has 10,000 and invests 1,000- it will be like you having 1,000 and investing 100; apart from the fact that it simply does not work- and has not done so for a long time.

The only way the system will work, is by the guru taking breaks from trading allowing all copiers to re-sync. This is not possible with hourglass traders, or those trading the Greenland system.

I am awaiting a refund for the last loses; and if this does not occur I will escalate this to the traders court.
Okinawa, Japan,
Mar 22, 2013,

another bad trade result in loss with etoro,I buy EUR/USD @1.2970...but when the trade opened,it wrote open trade @1.2997...this one is so obvious,and I cannot blame myself for any of this,the chart at that time was 1.2970 but the trading platform wrote 1.2997 which is really confusing...

2013-03-16 1StarI think they are the market makers,they HUNT stop losses!
If you don't believe me,that's okay,even though they say they are NFA members,NFA should take a look onto this,I'm gonna report to NFA regarding this matter and it shouldn't take lightly because more traders will lose money
makati, Philippines,
Mar 12, 2013,

i have been trading in etoro for 1.5 years. making good profit with the copy trading system it that . its not bad to ask ur id for verification . i'm so much satisfied with etoro and i recommend it also .
singapore, Singapore,
Feb 27, 2013,

Being trading with etoro for around a year now. lost alot of money, but mostly due to my own fault...

anyway so far they had allow me to withdraw, deposit, copy other trader without any problem. Not a scam but their "Guru" is not really good.

if u scan through their list of Top trader, none of them trade for more than a year as most of the last year trader would have closed their account... just look at santoshtiwari... last year she was top trader but losing 44%.... i had copied only the top trader and so far i'm down to near zero....
HCM, Viet Nam,
Feb 23, 2013,

Really quick to contact people when they sign in and quick deposit. But really slow when people have problem, no reply or just reply generally. Strange lost of about $9,000 which deposit I didn't asked.
Asked for details of what's happened, logs or anything else to know... just still no reply from them. Why ??? Is there anything to hide ? So bad!!!
limassol, Cyprus,
Feb 12, 2013,

e-toro has reached a settlement with cysec for the amount of 50k euros.
he Cyprus Securities and Exchange Commission would like to inform the public that, pursuant to section 37(4) of the Cyprus Securities and Exchange Commission Law, it reached a settlement with Etoro (Europe) Limited , for the amount of €50.000.

The settlement reached concerns weaknesses in the application of the Investment Services and Activities and Regulated Markets Law of 2007, as amended (the “Law”).

The alleged weaknesses concerned the organisation/operation structure (articles 18 and 36 of the Law) of the Company in their early operation days (2010) and the Company has since then rectified the alleged weaknesses and is now in compliance with the requirements of the Law.

The Company has paid the amount of €50.000.
NRW, Germany,
Jan 27, 2013,

etoro support is good.
the webtrader is really bad and i would not active trade with it a lot. its not professional. but the copytrading function is good. unexperienced persons have the possibility to copy good traders easily. i have a real account since beginning of the year. i blog about my experience. a english version of my blog is online(use google >> tradetoro.international). tere is a good chance to make good money. check out my blog and leave comments. my blog provides links to open a free demo account to, - you dont have to use my links. c u there.
James Bond,
, Germany,
Jan 1, 2013,

Well, I don't believe that eToro is a "scam", as some people say. Online Trading has inherent risks which people may not be aware of, especially newcomers! eToro appeals precisely to that segment however. Newcomers. And newcomers may soon discover that a: the FOREX is a very risky animal to play with & b: the online system is anything but reliable, or precise. eToro is of course a business and is in the business of making profit. It is not a charitable institution! Neither is the FOREX. Many may not be aware of the size of odds the FOREX can throw against even the best calculations at any time, Central Banks interventions, High Frequency Trading, Bull-runs - are just a sample! My complaints about eToro as a "brokerage", where I deposit my trust (i.e. Cash) are: 1. their admin appears to be in Israel, but this is NOT listed nor notified. Being in Israel, I would suggest implies some additional risks which traders should be aware of. 2. their accounts dept. does NOT work during week-ends. My account was "frozen" for "Verification" on a Friday p.m., a short while before closing for the w-end. I tried to deposit funds in order to pay for w-end roll-overs, but the deposit was not credited. I therefore had to sacrifice some positions in order to safeguard others. Eventually they "Verified" and apologised "for any inconvenience", but no compensation was offered! Why do they not "Verify" upon opening a new account ? Why "Verify" precisely on a Friday p.m., when there is no hope to complete such a process before closing and leaving a traders positions at high risk? 3. eToro trading hours are or can be severely prejudicial, since open positions can be at risk while the FOREX is active, but eToro is unavailable!! 4. Charges for withdrawing funds, as well as the time lag involved are unreasonable. Deposits on the other hand are supersonic! 5. The eToro platform is often slow and not precise, but that may be the case also with others.... 6. The spreads at eToro are expensive, but for anyone wishing to learn about this highly volatile, crazy and risky business, eToro is probably not a bad way to go. I would rather suggest finding an altenative way to be productive than playing this planet's wildest casino. But that is everyone's own choice. I will report on my further experiences with eToro!
, Malaysia,
Nov 5, 2012,

It is totally a scammer, their system not stable, and always take money from my paypal, weird!!!! Do not trade with this company, better choose those broker support mt4~~~ it is just a gambling and scam business.
pakistan, Pakistan,
Nov 3, 2012,

They are a big scam. They took my money $1900 by a fraud. Please don't use them. They will eat your money.
Berlin, Germany,
Oct 31, 2012,

To become a etoro trader it is soo easy - you just pay with paypal -
but to withdrawal the money they want copy of passport (color) copy of credit card (both sides) and a copy a recent Utility Bill. And than they charge you 25$ as well.

Also the Euro to Dollar exchange rate is very bad,too.

Finally the System executes Orders in a manner that you always lose one pip anyway. I made over 300 Orders and always observed that kind of behavior.
United Kingdom, United Kingdom,
Oct 24, 2012,

I have been with Etoro for nearly a year. I will give my honest opinion. I enjoy their platform as it has a lot of inniative by simplifying matters so you can see clearly what you want to trade without to many complicated numbers and settings. regarding spreads and execution time it maybe a milisecond slow sometimes and spreads are fixed but not the lowest in the industry although perfectly adaquete.
The big plus is they have a copy trader which you can copy your best traders and watch a chart of their performance.

I have withdrawn money without any issues although they process it within three days as stated in their policy. I have made profits and withdrawn them to my bank account via wire since it can be classed as money laundering to withdraw to the card more money than deposited. (since then I have made some losses).

They are a regulated company in cyprus so I do not understand how people can review that they have not received their money! also when paying via paypal if you feel that something is wrong you can always do a claim and if they were doing anything wrong paypal would close their accounts! furthermore they are linked with an australian company called icmarkets which is regualated under asic australia equivalent to fsa in uk or cftc/nfa in usa.

I am overall well pleased and will carry on trading with them.
Mike C,
Kuala Lumpur, Malaysia,
Oct 5, 2012,

Although I have never taken out my money from eToro, but to speak honestly, eToro is really a terrible and lousy trading platform. No MT4 support, no lot size, and their bullsh*t live chart windows is always lagging and unresponsive which causes me to lose many trades.

And for their "unique" Copy Trader feature, do you think that every newbie or beginner should simply copy and just follow what the so-called "top traders" in eToro for trading? If everyone would do so, there is absolutely pointless trading Forex...

After reading reviews from many ex-eToro users and having bad experience with eToro, I quit and open a new account in Alpari instead.

Melbourne, Australia,
Sep 27, 2012,

So many bad reviews can't be wrong !!!

Don't Deposit Money with them unless you want to lose it !!!

And they wanted me to help them promote their Facebook $20 coupon !!! Get Real, do u expect anyone to make money from $20 as trading capital !!! That't not even enough to get started with Binary Options !!!

Overall which goddam broker charges such a fee to withdraw money PLUS a 5-10 days waiting time !!! ETORO !!! Most the time you won't even be able to withdraw the money !!! TOTAL BUCKETSHOP AND BOILER ROOM !!! Worst than going to the casino, its like contributing to the Etoro Scam Foundation !!!
UK, United Kingdom,
Sep 18, 2012,

Just by way of an update to my previous post, please avoid depositing money with them. I am in the UK, supplied all supporting documents/id etc, and have been waiting weeks for my payout. The lack of communication is shocking, the excuses even worse. They claim to have sent my money - but i can assure you i've received nothing.

2012-09-10 1Star Avoid - if you are looking to deposit money think again! They are a terrible broker - the payout process is a joke - lack of communication and generally poor service. Don't even think about putting your money in their hands.
Forex Manger,
Bangalore, India,
Sep 14, 2012,

Etoro is more of like a Casino or a game. Not at all fit for Professional Forex Trading. The Platform is one of their major drawbacks. These people do not support the MT4 but have what they call superior but actually one of the worst web platforms.The Platform takes around 5 minutes to load. Another thing is there is no Lots and Lot size. You will have to choose the amount you are willing to bet. That' s not trading its Casino Poker. Ok now when we place the bet we also have to specify our profit target and the stop loss. See how much precious time and gruesome process it is. Once it is entered again it takes around half a minute for the order to be accepted way away from the price. Now add to this huge spreads and you are bound to bankrupt
Mariyan Kostov,
Sofia, Bulgaria,
Aug 31, 2012,

The are just terible broker... the server is down constantley on high volatility market and news a had an open position while the server was down do to Bernanke speach probabley my position hit TP while the server was down but etoro dident close it :D and the market goes against me the platform wok''s up and my trade hit my SL they are just hidious i never will put real money again...
Bangkok, Thailand,
Aug 23, 2012,




Willie Aucamp,
South Africa, South Africa,
Aug 21, 2012,

I want to complain about the service from etoro. I have made a withdrawal more than 3 weeks ago on etoro. Etoro said that the money was paid. And still I have not received anything in my account.

I have asked them to send me a proof of the payment that they have send to me. And still I have not received the proof on my email.

They said that the case was prioritized on their side. I have asked for the proof on email that my case was in fact prioritized and yet I have not received anything from etoro.

Once I speak to the live support. All I get as an update on my case is the email that was send to me already long ago. So all that they do is copy and paste the email for me in the chat. That does not help me at all.

Urgent response would be greatly appreciated.
london Mayfair, United Kingdom,
Aug 5, 2012,

ETORO is a scam company beware of this company it has cheated and made trades which I was not aware of. at the begining i made money which is a way etoro works and after the honeymoon period is over they get access to your account and start making trades which you have not authorised, takes your credit details with your last 3 security number and bingo they have full access to your funds after all this is a Isreal company beware everyone. do not trade with Etoro it is good as burning real money without your knowldege.

WORST COMPANY ETORO. Lies after lies which is why they don't take calls and your email never ever get replied. Shame, SHAME, SHAME ETORO can you sleep well at night!!!!
Erik Simon,
, Slovakia,
Aug 4, 2012,

Hi, Etoro open a few times trade which I have never opend myself. I have to close tnem becouse this trade was opend at very bade rate at actual rate was close to stopp lose. In this way tay take me some money. Don not use this broker. It is a scam.
london, United Kingdom,
Aug 1, 2012,

Etoro is scam I am taking this company to court and expose them. Money got taken out from my credit card without me authorising, their so called automated system rejected everytime but to my suprise took funds out, SCAM! When I asked to return my money back they told me ot was in the process of been refunded. never happened!

DO NOT USE ETORO take my advice

As for users comments my account also got wipped off by constant shut down and on the background trades appeared which I did not enter. thir support team have not got a clue what they are doing, and when you log a complaint by email you never get anywhere.

SHUT DOWN ETORO, SCAMMER and MORE LIES. I have logged complaint to regulatory body in CY. you can not get away with this. I know how to trade
bristol, United Kingdom,
Jul 26, 2012,

i have used etoro for over 6 months....overall trading has been ok..they do sometimes have problems with there webtrader but i believe that its always being developed..the social openbook is a valuable resource and that is one of the reason why i stay and trade there...

Customer service is good in my opinion they always do their best to get back to you promptly and have had my problems resolved ..
Notts, United Kingdom,
Jul 22, 2012,

after trading for almost half a year, their webtrader has had many problems and were never fixed and never will, why? their last few updats was nothing t do with fixing the issue. they simply keep replying we are aware of the issue and will look into it...nex few weeks theirs a new update and thats something to do with the profile update...the webtrader issue where markets randomly close in the middle of the day and fail to keep me logged in cause me great loss and i have tried emailing them with trade ID's and some screenshots...emails were ignored...i had one reply from support@etoro.com which only asked me for my username and when i contacted them. they also mentioned theyll investigate the issue but i havn't got a single eail or notice from them since then...im not sure whats so hard...i gave them my trade ip's and im sure thousands of people have had the same problem over the years so they should be pretty swift at tracking their useless webtrader problem.

either way ive contacted on one of their employees profile asking him to tell his colleagues to answer me which he probably wont but hey, no suprise. id be lucky to get my original deposit back in my debit card. just wish they would shut their webtrader down or hire people who would actually listen to their customers and fix their platform.
Limassol, Cyprus,
Jul 15, 2012,

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
Gregory Innes,
Aberdeen, United Kingdom,
Jul 13, 2012,

eToro is a complete scam. On the 10th July I lost almost my entire account as the system froze, I was unable to close open trades or even adjust SL. I was logged in so it was not a connectivity issue.

I contacted support about this and they deny that there were any issues at the time of these trades. I have had connectivity issues before and the same problem before, which they did issue a refund for. But this time I lost a lot more money and they refuse that it was there fault. Discussions on the chat rooms and on their open book pages confirm that these problems occurred.

I literally lost 80% of my account and could do nothing about it. AVOID!
Limassol, Cyprus,
Jul 10, 2012,

Dear traders,

We’ve seen some more complaints about eToro since my last reply, so I thought I’d address some of them here.
The one that we keep seeing is the issue of connectivity. I have to emphasize that most of our traders do not complain about frequent connectivity issues, especially since our last software update. However, we’ve noticed that most of the traders who post connectivity complaints here and in other forums seem to trade at eToro while also using other trading software at the same time. You need to know that because trading software is constantly updating itself it requires a lot of bandwidth. If you have a broadband connection you should have no problem trading with eToro, but once you start running other trading software that also require a lot of bandwidth you may run into trouble. That is particularly true during peak trading hours, for instance following an economic announcement. The charts are very volatile and thus update more rapidly, requiring even more bandwidth. On a side note, during these times brokers’ charts may differ because not all brokers have the same liquidity capabilities, and the extremely high demand may deplete the supply. We did have a bit of a technical issue a couple of weeks ago, during the weekend (markets were closed), due to a server error, but that was quickly fixed and will not happen again.

I must emphasize here what I’ve emphasized countless times before: eToro doesn’t have a dealing desk. In fact we’re not even a broker, we are an introducing broker for three highly reputable brokers, who are regulated around the world and who are all no-dealing-desk brokers. That means, a) we couldn’t trade against our traders even if we wanted to, b) we wouldn’t want to because we make our money from spreads, which means that we get more money from successful traders than unsuccessful ones. You can check out the Regulations and License page in the About Us section on our homepage to learn more.

Next we have the eToro OpenBook. The OpenBook is an opportunity for less experienced traders to benefit from the know-how of more experienced traders on levels. You can choose to copy the top performing traders or just follow them, but ultimately the goal is of course to learn from their methods. Of course you could copy the first trader you see on OpenBook, which probably wouldn’t be a good idea, but we have tools with which you can find the real experts on the network. This is why you should also look over someone’s personal profile including stats, portfolio and trade history, before you decide to follow or copy them. The Gurus are perfectly real, and in fact we have updated our statistics generating algorithms so that now the Gurus’ performance is better reflected in their stats (no more leaving losing trades open just to keep up the win/loss stats). As for the 20% equity limit, we didn’t want traders to put all their eggs in one basket. Our network has thousands of profitable traders to choose from, and just like you shouldn’t risk all your money on one position, you shouldn’t risk all of it one trader either. By the way, the Gurus are paid in bonus money, but considering their huge trade turnover (they are after all very prolific traders) that money is pretty much withdrawable right away.

Last but not least, let’s talk about our platform. Some of the posts here complained about our charts. We have an advanced charting sweet integrated in our web platform, which you may not have been aware of because the old platform had simplified charts settings that you had to switch to advanced settings to access the advanced charts. Now you just have to click on the charts button top open the charting software, and it provides you with a plethora of automatic indicators, drawing tools and other options. As for the general look and functionality of our platform, most of our traders prefer it to the meta trader platform precisely because it is more simple to use, while retaining all the tools you need to trade. Just because it has a more intuitive interface, doesn’t make it childish. However, those who would really prefer to trade with MT4 can contact their account managers and they will set it up so you can trade with it.

As for the more individual complaints: ITM financial are an independent affiliate, we had no idea that they were running such an aggressive and disrespectful campaign. We will most certainly be in touch with them to make sure that they change their tactics drastically.

The affiliate whose payment plan has been closed due to low traffic volume: please contact us at social@etoro.com with your username so we can sort this out.

Rachna Bharti, we are looking into your case right now. However, please note that using someone else’s payment method to fund your trading account is not a good idea, and you would have trouble withdrawing with most brokers.

I hope this was helpful and if you still have any other questions, please feel free to contact us at social@etoro.com.

We wish you happy trading,
Laura, eToro Team
London, United Kingdom,
Jul 6, 2012,

As a recent returner to forex trading, I was happy to see so many of the old scam brokers had closed down. However, I see that a whole new generation of providers have arrived on the market to replace them...

eToro, a very simple interface to use. BUT since it doesnt actually work consistently it is a complete joke, specifically:
- unable to log in (several times a week)
- locked out of system/system freezing even when you are logged in already and trying to open trades or close them
- frequent 'you cannot trade this instrument at this time' when I was trying to close trades, at 3pm GMT in London, UK !!!! Ridiculous. How can it not be possible to close Euro/USD trades in the middle of the day?

Now I have a cable network connection, so connectivity issues are never a problem for me. I have used other brokers and never experienced this level of system problems. Therefore these problems are down to the eToro platform and their own connectivity issues. This lack of reliability will serious affects your ability to make money. It makes what is a relatively risky activity (forex trading) simply too risky. Buy lottery tickets instead if you like odds stacked against you this much!

- Finally, never, never, never leave trades open overnight, or even worse, over the weekend. You will definitely lose your money regardless of what actually happens in the 'real' markets. It is not only eToro that does this but it is just another bad thing to add to the list.
- Unlike other reviewers on here, I am not saying that eToro have deliberately frozen my account when I have made profits. What I am saying is that due to the unreliable platform, you are bearing a much greater risk of losing money if you cannot close trades at the moment you need to. Trading is timing. If the system will not let you close trades at the right time, its not a trading system, it is a broken toy.

On the positive side, the openbook and copytrader functions are great innovations but unfortunately they also do not work consistently. Some trades copy, some dont. Who knows which ones? Its all just a game... but thats not the way I like to trade.

My advice, there are other brokers out there with more reliable platforms. If you are an experienced trader you wouldnt want to use eToro anyway. If you are a beginner, dont waste your time playing with a broken toy and instead take the time to learn how to use a proper system.

This is a real shame because the basic idea behind eToro is a good one. However the execution is so bad that it renders it unusable for anyone who trades to make money.

Sorry guys, you really have to get your act together. Fix the platform, fix your servers.

Singapore, Singapore,
Jul 1, 2012,

I try out their etoropartners.com etoro affiliates program, i wanted to check if this pays.
So i got one of my referral to sign up under my affiliates link, he deposited more than $500.00 and have been active for months.

And the funniest thing is that, the revenue sharing program pays like a whimp. My forex rebates affiliates program, with my existing clients each gaves me an estimates of $200 monthly on revenue sharing program.

etoro gives me $12.50 on account balance that can never be touched! after client make so many transactions.

I signed up for CPA, commission per account, not the revenue sharing program as indicated when you sign up, u can choose either one. Therefore i choose CPA.

Apparently, etoro is idiot, in my account balance its write $200.00. i ask for payment the first time, they ignored me, i send emails to all available emails they ignored me as well. Then my idiotic partner manager email me with template.

saying due to LOW TRAFFIC ETC ETC, they will monitor the account until further notice.

I was like wow? the most wow thing is that, under their terms and conditions the very very lengthy and not everyone will want to read kind of thingy, its state that they can change partner's program. and that's bulls***.

Don't market your campaign, if you cannot pay to make yourself able to choose between both and decide for the partner, when the partner already chosen their own plans. No notification, no email to notify until request for payment.

Hey look etoro, my other affiliates pays me on time twice a month, i was just testing your reliability. If your CPA works, i will then refer more clients. But apparently this company is a scam as a total.

Good forex companys don't market themselves online on googles ads etc, good ones are recognized by referrals.

Anyway, etoro is a s*** platform, locked in margin, high spread, locked in instrument, bonus is also bulls***. copytrader campaign is bulls*** as well. even after you follow everything, you don't receive the $20, they says minimum is $50. after you help them to write on facebook post etc etc, its all a marketing scam.

I remembered 1 year back, i refer a friend program was $100.00 bonus, and now its mere $50.00 . apparently, their clients are becoming worst to worst.

Only novices and gamblers uses webtrader on etoro.

Professional uses metatrader !:D

I forgot one time, where i earned more than $700.00 from them, i cannot log in several times, connection problem.

requote slippage all kinds of problem. orders don't get execute live haha etc etc.

full of scam.

epic fail gg.
, Pakistan,
Jun 27, 2012,

Hi, my name is Muhammad Asim Khalid and i am trading in eToro. I opened two accounts in eToro one of my account got broke by losses while other one is in heavy profit now they locked my account and they are saying that i have other accounts on eToro which is against their terms and conditions i asked them to give me proof that i have other accounts they said no proof and your account will not open again. this is ridiculous. can you help me through this.
,,, Norway,
Jun 20, 2012,

I have been using eToro for about half a year now. I should have written this earlier, but as eToro shut down during peak market hours today, I thought it was about time.

Etoro has a very cartoony, easy to use platform. Ideal for the beginner. Its integrated copytrader function is also a good concept. Online chat is also a plus.

The downsides of eToro I have experienced:

Integrated charts are horrible with a cartoony feeling.

High spread. 3 pips on eur/usd, 4 pips on gpb/usd.

Etoro opens late on sunday and closes early on friday.

"Frequent" downtime roughly about once every month.

Copytrader doesnt work properly, I have more than one time noticed trades that do not copy, or trades that fail to close in sync with the original trader. You have to spot this yourself, etoro wont help you.

Bonus dollars: eToro is a smart company. I reported issues with copytrader to eToro when I was a beginner, trades that werent copied/or didnt close properly. They actually compensated me, but not with real money. They handed out more or less worthless bonus dollars; if you do not pay attention, you might think you were compensated with real money. eToro also pays their "gurus" with bonus dollars every month, and to liquidate these into real money, many of the gurus open a ton of simultaneous trades to generate spread. Needless to say, when a "guru" has 1000 copiers, this generates a lot of wealth for eToro.

Problem is, eToro has no real gurus or good traders to copy. Beginners in eToro are often attracted to high risk traders/gamblers, and these are the same people who open tons of trades risking way to much getting a few green pips, probably thinking they will get to their bonus dollars by generating spread.

Good traders dont need bonus dollars, they dont want copiers, they dont need high spreads, they dont need a broker that closes before other brokers and opens after other brokers. They dont need an unreliable broker that has downtime during market hours almost every month.

So if you are a beginner, dont be fooled by thinking copytrader will make you money. The easy to use interface is good when the forex world is new to you, but ask yourself if you really want to pay high spread when its easy to find a broker with 2 pips fixed spread on eur/usd with metatrader and proper charts.
, Bulgaria,
Jun 12, 2012,

Very unreliable broker, My demo account is not working for days and I asked them to fix it, and you know what they asnwered me? " Please log off and try a different browser,, If this still does not work then please advise us." WTF??? What kind of support is that? "Please advise us"? Imagine how they fix the real accounts ... I am definitely not gonna put my money with them.
Rachna Bharti,
New Delhi, India,
Jun 11, 2012,

I have opened an account with etoro with 155$ last month and funded it using my brother's paypal account.

Now when I have gained some profit from trading and requested for withdrawl of 460.30$ they suspended my account saying that my paypal account is under investigation.

I submitted all the documents including my Pan Card, Utility Bill, Copy of my Brothers Passport, Utility Bill and Paypal Screenshot plus Power of Attorney but still my account is suspended.

I think that till the time you make losses it is ok with etoro but when you start gaining they are having some or other problem

I request Forexpeacearmy to Look into this matter because this is hard earned money.


Rachna Bharti
Sir Rocker,
, USA,
Jun 4, 2012,

ITM Financial, through eToro, sent out a backdoor marketing campaign. They sent out a tout letter saying how some 15 year old made alot of money with some indicator and you can get it too. At the time, there was no reference to eToro. To get access to the indicator though, you are popped into the eToro brokerage page. So I closed it, as I have no interest in using them. Then a SECOND email arrives that actually takes you to the indicator url. The indicator is a mirror of the FX Sniper T3 CCI and so I have no use for it. Fearing a truckload of junk email from eToro, I closed my subscription. At the close, they pop up a feedback box, so I gave them my feedback.

Here is the email I was sent AFTER UNSUBSCRIBING!! How wonderful they are:) Are these the brokers you want holding your money???? Your choice. I have no idea how the platform works, but I know how their customer service works. Here is their response, with my feeback under it.

Hello there "Sir Rocker",

Thankyou for your email full of incorrect claims and non-researched rhethoric.

- We are honoured that you have taken the time to write to us with anything but correct information, we are going to suggest that you be nominated for a Nobel Prize.

Now, on to serious matters:

1. The indicators provided to you are based on MACD, RSI and CCI calculations, combined with our proprietary SSI technology.

2. There are hundreds of commercial and free indicators on the internet that use MACD, RSI and CCI.

3. Confusing our technology with indicators like FX T3 and other rehashed CCI indicators on the internet is your own problem and only says that you need to do your research correctly before making claims that don't exactly make you look very intelligent to anyone.

4. Please contact eToro yourself -- You can easily confirm by speaking to them directly, that ITM Financial is an Official, Registered Partner of eToro International. Go on, call them today, it will put your mind at ease :)

If you can write back with a more specific, actual question, we would be more than happy to answer it for you ~

Please don't waste your time or ours, by submitting nonsensical comments with no base or substance.

Many Thanks,
Support @ ITM Financial

Important Disclaimer: We reserve the unquestionable right to a) Not answer questions that are not relevant to the ITM Financial Membership, and b) Not answer to abuse or rude commentary of any nature, possibly terminating your membership should you resort to behaving unprofessionally with our staff via email or any other medium of communication.

We aim to respond to your questions within 1 to 2 business days. Please try and email us your questions all in one email instead of sending questions in multiple emails. The more emails our system receives, the further down the queue you go, and the longer it takes for us to respond.



-------- Original message --------
Subject: AWeber itmf_aff_leads: This Lead Unsubscribed:
To: Curt ,Ali

This lead has unsubscribed by following the link at the bottom of one
of your AWeber messages, and decided to provide comments. Why did I
receive this email? http://www.aweber.com/faq/questions/391/

Email: sir_rocker
Signup Date: 06/03/12 07:15 AM Eastern

Promoting the FX Sniper T3 CCI indicator as though it was yours. Promoting use of the renamed indicator with inappropriate settings. Promoting eToro brokerage through misdirection. All in all, very unethical!!

Of course it does not end here. I provided them a response to this response. We will see how much lower they want to go and so there may be an update to this post soon. Apparently, ITM is some kind of referring broker and may or may not actually be eToro. I am assuming they are not actually eToro, but they are claiming them, so by association, they are now.
, Lebanon,
Apr 29, 2012,

in fact i think it is a casino not a broker !! because you bet in forex and no trade at all . the spread is too too huge , the execution is too too slow , by the way the bonus is also like casino it 100% or 200 % or any number you want it dosnt matter coz you didnt get it at real .
when you open an account they dont ask you any prove but when you want to withdraw they ask you about papers you didnt hear before ,, it is a casino and bad casino and it is absolutely not a broker and absolutely it is a scamer .. you need 5 min to know that
somerset, United Kingdom,
Apr 29, 2012,

I have no problems with Etoro - i have had a live account with them for 3 months - thier account manager calls me every 2 weeks for a chat to check i am happy with everything. I have made some money and lost some money but thats down to my trading skills not etoro. the copy trader function is good and if i copy the reliabe, safe traders i can make a small profit without any worries - if i copy a trader with poor moneymanagement i will lose money - but thats my choice etoro dont force you to copy anyone. the donly downside for me is the charting software so i have been using another brokers in demo mt4 and it matches well. yes the interface has frozen a couple of times but thier support team will review any issues and will pay out if you are disadvantaged. thier spreads are fixed and thier are no overnight swap fees for anyone which for a smaller trader like me is a major advantage.

I have been researching to find an additional broker i can invest with so i can use mt4 but its difficult to match etoro with fixed sperads and no overnight swaps .
, Canada,
Apr 24, 2012,

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!


I highly discourage anyone from choosing these clowns, there is no way they are legit.
Jkt, Indonesia,
Mar 20, 2012,

i want to say eToro is definitely one of the worst brokers i've ever worked with. They claim they have this cool copy trader platform in eToro openbook so everyone can copy trades from the so-called gurus. I find it quite absurd because of two things. first of all, we can only copy each trader with 20% of our equity. They say it's risk management but to be honest it should be up to traders whether they want to take risk or not. Brokers shouldnt be allowed to control what to do and what not to do for investors.

Secondly, the statistics in Open Book platform is deceitful. You can see people making 30-50% every month. In any other broker (like PAMM system in alpari or fxopen) every percentage statistics MEAN percentage from their equity/original balance. Here they put percentage gain statistics BASED on each trade. So basically if you trade with very low risk (like $10) and gain 9% of it ($0.9) then in your open book platform it'll be recorded as 9% gain. This is of course misleading.

I can see most traders here are just trying to get $10/month per follower that eToro promised to give. The traders there make use of it by trading with very low risk because they know it doesn't matter whether they trade with higher lot or not. The percentage gain is BASED on how much they willing to risk in each trade, not BASED on their original balance or equity.

I have tried to copy 10-15 of their best traders and i can say all of them are quite pussy traders. What's the point in trading if you only make like $0.0x per trade? That's absurd.

Another disadvantage with eToro is they dont use metatrader. They use webtrader system which is a bit laggy and not customizable.

The biggest and last minus point is that they allow everyone to make deposit but then they require verification for withdrawal. If they want to comply with AML rules, they should require verification before anyone can make deposit. Also they always make up excuses by saying your passport copy is not clear bla bla bla just to hold my money in withdrawal process. What a joke!
Jared Munrow,
Auckland, New Zealand,
Feb 29, 2012,

This service is a waste of time and money! It looks good on advertising but on real account things are totally different. I was following some top players that supposedly will give me some profit - well this never happened! Plus, there were some major discrepancies with open trades not being closed - you know the usual way for brokers to get your money. So, if you are thinking of opening an account with them, seriously reconsider!
, Switzerland,
Feb 24, 2012,

SCAM! I had a short trade with a take profit of about 200 pips. Even the price went under my take profit several times for more than 20 pips, the take profit was never executed. Then the price went up and about 10 pips UNDER my stop loss the stop was executed!
When I write e-mail to them about the trade they don't even reply!

The only good thing about etoro is, that they withdraw your money.
Saudi arabia, Saudi Arabia,
Feb 10, 2012,

I joined etoro 1 month ago and get profit 129% from my deposit.I tried to withdraw 129%,but the 29% instant payout through paypal but the 100% remaining just waiting they said it takes 4 to 14 days to process because I used credit card to deposit.
Life Answers,
Singapore, Singapore,
Jan 14, 2012,

For website layout and user-friendly - eToro is rated one of the best.
Platform? - Only Webtrader and Andriod Phone, NO IPHONE or even IPAD.
webtrader -> The webtrader is sometime a problem with its login issue, few occasion i have to tried multiple times and even seek live support for help, in order to be logged in; and after being questioned, the chat personnel just replied " I am not sure why ".

And indeed, this happened when i am trading on profits. I have 3-4 occasions from this. This build up my desperate and emotional trading on few occasion when i needed to do changes and enter my trades.

I have to give thumbs up for Andriod trading - it recently have improved! However, one bad issue, when you execute the trade, you need to wait, if u click it too fast, it will have 2 open instead of only 1!. And there should be more technical stuff inside this andriod platform, and news from outside NOT ETORO Blog; fundamental traders relied these information! and not late updates or blogging.

The funny thing on their website is that when you tried to post a comment ( they banned Http or www ) too much fear.; it says you are not logged in even when you are. And they banned some words on etoro chat; no freedom of speech. Some words of advice to the community trader there but they refused to let these noobs learned. All simply gamblers X 400 , x200 and stupidity trading during volatile period where pips fluctuate and major news set in. Easier for them to earn money.

I won't be surprised that etoro may also studied consumer's P&L, and if they are high leverage player, they will trade against them! 25 pips after - spread probably 23-18 pips only to HIT SL!. It's so easy, even primary school know the maths. You can earn more against trader rather than spreads; and i forgot! Its against gamblers and not traders.

I tried to enter high leverage before during spot, but just always missing the boat. ONE CLICK execution, and they also closed certain orders where other brokers are running.

Now read for real content:
What eToro cultivates; what kind of trader you will be transforming into
There are a number of so-called Guru you may find on eToro. And openbook that displays and show the number of Top Traders with their amazing green percentage over the different period of time span such as weekly, monthly, quarterly, 6 months and yearly on their profile portfolio.The Copytrader allows these top traders to recruit more copiers; and through active and real copiers these guru earns commission and revenue. That was one of primary feedback that deteriorate positive trading ethnic and ruined good traders that are blinded by these incentives that makes them emotional and irrational.

The winning percentage on eToro is totally nonsensical due to its high leverage trading. eToro allows up to 1:400 leverage on their trading system. To professional and seasoned trader; one would clearly define this no difference from gambling; if you disagree this statement you can try it out on eToro’s Live Trading account and soon you will have to agree with me.

eToro Open Book
This is a true history result on eToro. NUCCHIA

Analysis on the top players on eToro’s copytrader recommendation and top 50 weekly live trading competition on eToro.

eToro Open Book – Nucchia

If you notice this fellow is often one of the top 10 in the weekly etoro live trading competition, but if you monitor him closely and look into his trade performance and history. You may identify him as a opportunist and a gambler.

In one lucky week; Nucchia have a record of winning more than $100,000 during one of those shorting weeks for EUR/USD. Majority of his traders are high leverage between 1:200 and 1:400. And Nucchia focus mostly on EUR/USD, AUD/USD and NZD/USD. This is mainly due to these 3 pairs are the cheapest and most liquid to trade with on eToro with 3, 2 , 2 pips spreads respectively. If you happened to copy him on that week; you are lucky, but if you copy him on long term you are a FOOL.

Perhaps Nucchia is one of those rich guy out there who trade forex like its poker and its a game. Investment is always talking about retaining profits and real growth performance over a period of time. Not quick gains that are short term.

If you started out in a small investment amount and have winning spree on High leverage trades; its no surprise that you may even be listed on eToro’s top trader broadcast, there are some cases where traders earn more than 1000% on their portfolio in a very short period of time.

Here are a list of previously top traders that may have already been squashed and drown in their own hands of stubbornness.

eToro Open Book http://openbook.etoro.com/vispy007/#/profile/All/
eToro Open Book http://openbook.etoro.com/nucchia/#/profile/All/
eToro Open Book http://openbook.etoro.com/emanfx1/#/profile/All/
eToro Open Book
eToro Open Book
The common characteristics of these trader are their high leverage and refused to take stop loss. Perhaps they may have gain and still are gaining more profits compared to losses. But if they are multiplying their equity on the same rate per trade and simply no difference from gambling; its only a matter of time they succumb to their stubbornness and it’s negatively unhealthy for a trader’s psychology and health.

One of the most reliable and consistent trader is namely UKTRADER and his wife SANTOSHTIWARI. They are mainly scalping on low percentage returns. However, ever since both of them were pronounced as Gurus on eToro, their trading skills and ethnics have since dropped tremendously. There were occasion where they have topped up their stop losses on trades that may already be stop out long time despite it may even be a 1:25 or 1:50 trades, meaning to say they may have lost more that 400pips and 800 pips already on certain pairs; yet still refusal to CLOSE TRADE and accept LOSSES due to not ruining their winning percentage and history profile; so that they can recruit more followers and copiers. What about the weekly take trade over weekend fees? How more longer he is supporting the turtle traders? Copiers that have insufficient funds to increase stop loss may already have had their copy trades stop out! And this reflect poorly and badly on these top traders that these idiots and fools are following.

Next we look into the Number 1 GURU on eToro - eToro Open Book with over 3060 copiers falling from 6000 copiers awhile ago. NMarijus is known for trading very low risk and less trade per time; mostly only one trade per time until he can close his trade in winning. However, similarly to UKTRADER, NMarijus, look at their open trades and you will find similar setback. Clearly its Overly concerned over winning and you started losing..

eToro Open Book

How many idiots have lost money by copying these top gurus of the past months??

One of the most reliable and consistent trader is namely UKTRADER and his wife SANTOSHTIWARI. They are mainly scalping on low percentage returns. However, ever since both of them were pronounced as Gurus on eToro, their trading skills and ethnics have since dropped tremendously. There were occasion where they have topped up their stop losses on trades that may already be stop out long time despite it may even be a 1:25 or 1:50 trades, meaning to say they may have lost more that 400pips and 800 pips already on certain pairs; yet still refusal to CLOSE TRADE and accept LOSSES due to not ruining their winning percentage and history profile; so that they can recruit more followers and copiers. What about the weekly take trade over weekend fees? How more longer he is supporting the turtle traders? Copiers that have insufficient funds to increase stop loss may already have had their copy trades stop out! And this reflect poorly and badly on these top traders that these idiots and fools are following.

Next we look into the Number 1 GURU on eToro - eToro Open Book with over 3060 copiers falling from 6000 copiers awhile ago. NMarijus is known for trading very low risk and less trade per time; mostly only one trade per time until he can close his trade in winning. However, similarly to UKTRADER, NMarijus, look at their open trades and you will find similar setback. Clearly its Overly concerned over winning and you started losing..

eToro Open Book

eToro Open Book

My above review; is stating that this binary option platform and cool and easy to use interface are meant for NOVICE and people who wants to understand Forex Trading at the MOST SIMPLISTIC LEVEL!. BUT you should only open demo account and try first before concluding that you should deposit real money for live account. Don't be fool by the deposit bonus.
I am sure professional trader agreed with me that these bonus are just marketing tactics; good traders do not need these bonus to earn profits on Forex trading. Not to mention their requirements and terms.

Pretty sad to say that, i have multiple desperate emails from eToro to ask trader multiple times per month to deposit to receive 20% or such bonus, in order to retain customers.

80-95% of novice trader lose money on this platform.

Professionals use MT4 .

yes i also agreed that; weird, on and off eToro closed it trading on certain pairs/indices, and this is REALLY ANNOYING. Stop sending those 20% on your next deposit, its no longer going to work.
Julian W,
London, United Kingdom,
Jan 10, 2012,

Apart from the spreads being a bit too high and a few teething problems with the copytrade function (resulting in me being fully reimbursed for the lost trade profit) I would say this is a great broker for entry into the Forex market and would recommend it simply because of the ability to copy the best performing traders.