eToro – Is it scam or safe?

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eToro – Is it scam or safe?

Israeli company eToro has two branches – eToro (Europe) Ltd that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and eToro (UK) Ltd that is authorized and regulated by the Financial Conduct Authority (FCA). Licenses allow it to offer financial services, including forex.

However, there are some posts that inform about poor customer service, negative slippage practices, hidden fees and money withdrawal difficulties.

So far, we haven’t received any complaints from clients of eToro.

If you feel frustrated by eToro and have something to share with us, please fill in the form below, describing your case:

7 Complains

  1. This is a scam company! They stole near USD8k from me. I don’t know what happened and I tried to contact them but they ignored all my messages. I had to wait for many days and they replied. They took my money because they quoted with delay and all my profit was based on this delay. That was why they deducted all my profit. They refused to give me any further information. Nearly 80 deals were cancelled. Of course, there were no such delays. Scammers! Never trust them!

  2. This is the biggest scam ever! I lost USD5,000 and I did not even understand how. All my deals were copy from profitable trades. They showed positive result and then all gone. Never involve again. Stay away!

  3. I have a withdrawal problem too. I send the USD100 vie PayPal and tried to get them back. Although the sum was taken from my balance, I still didn’t get it. So, my question is why do deposits go so rapidly but withdrawals delays are huge? This is PayPal and all should be fast enough. I cannot trust in such a broker.

  4. I couldn’t say eToro is a real scam but it’s rather not a decent company. You can deposit fast and easy without the need of providing any kind of documents. Then they have some requirements such a proof of address. In my case all bills are paid by other member of the family so I couldn’t provide a real proof of address on my name. Now I have already deposited my money but I cannot get it back because I don’t want to trade with them anymore. I’ll have to wait for them to send the money back to my bank account where I sent it from. So, all I want now is my account to be closed and to get the sum back!

  5. I would like to share with everyone please do not deal with etoro. They refused to execute my withdrawal request. It was so easy to deposit to their account bit when it comes to withdraw to the same card, the problems begin. Their customer support is worth nothing. I tried to ask where is my money? Where has it gone? They don’t reply. Firstly, they told me I had been using third party deposit methods and this had been against their policy. BUT I DEPOSITET BY PAYPAL! Where is the fault? Liars

  6. I made I withdrawal request and several days they did nothing. Instead of sending my money back, I received a call from Cyprus and when I asked about my request they told me they would send me an email with the details of my “account manager”. I haven’t got any emails yet and neither got my money back. I will wait a few days more and will take some actions. Please, stay away from these cheaters.

  7. Their website is misleading! They advertise crypto currencies trading and I thought I can really own these currencies, I mean buy them for myself. That is why I registered and deposited USD1,000. The transaction was fast. My surprise came when I tried to buy Bitcoin. They offer only an option to invest in Bitcoin and to hope its price would change in your direction. Ok, maybe I didn’t read well and I decided to get my money back. Then they started to require a lot of documents. Well, they took my money but when I wanted to withdraw it took hours of work to make this happen. After I sent many emails complaining about this behavior they finally decided to send my money back but USD25 less for a withdrawal fee. And this is without using their system. After all I felt very badly. So I am still thinking their advertisement is misleading!

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