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eToro
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Changed rules on overnight fees and they charged me $4000 in fees
I bought a product with no overnight fees. I held this product for 1.5 years. Then one day they decided to start charging me overnight holding fees. The fees amounted to $4000 and I only had $28000 in the account. Literally 15% of my account they sucked out in fees with no notification that fees were changing.
- 2 reviews
Thieving Dogs
A bunch a thieves that dont give answers to anything, take days if not weeks to fight to get your money into their wallet!!!
Request all personal documents and still is not good enough
Hi there, thanks for reaching out!
We are sorry to hear you are having issues transferring crypto to/from our wallet. Please provide us with your account username and we will be happy to forward this matter to our support team. ...
Read more Thank you! -eToro AU
Selling is a nightmare
Hi community!
Seems you're all in Australia, but since am also getting trouble with this broker in Ireland I thought I might share this as well.
It started when I wanted to sell my stocks. Basically on this platform opening a Sell position requires you to ...fund your account. I know this is ridiculous. This is because eToro doesn't give you the choice and say the Sell must be using CFD. You can't just sell at price market. It took quite a few contacts before they couldn't confirm this.
So I ended up funding the account and opened some Sell pos...
Hi all, a quick update on this one. Issue was eventually solved. It still took a callback from a rep, supervisor, to clarify everything. My bad: when I bought stocks It apparently opened a trade which...
Read more I wasn't aware off. When I tried to sell the same stocks I owned little did I know I had just to close this trade. Instead I opened new trades and closed them. Apparently this is not how you buy/sell on the platform. Platform reps bad: almost every person I spoke/chatted with before the late callback was speculative in some point in their answers. had this been seriously looked at, whole affair would have been solved very fast. So unfortunately, while cause of the issue is caused by my own shortcoming, what made things worse is the overall poor customer service. It was difficult to get this callback, had to really push for it.Hi Francie, thank you for your feedback and we are glad the matter was resolved for you.
If there is anything you are ever unclear about in the future do not hesitate to reach out to our customer se...
Read morervice team or our social channels and we will be happy to address the issue.
Hidden fees - scam
Really simply, the amount you attempt to withdraw will never be what you receive. Withdrawals always arrive in multiple payments and never add up to what they should. I'm really shocked they are still trading but I imagine they hide behind opaqueness. I've had no problems actually withdrawing but have never received what either the app or confirmation email (both of which are always different) says I will. Simply put - its a scam... of a sort.
Hi there,
Thank you for reaching out!...
Read more When issuing a withdrawal eToro will send you back the funds the same way you deposited. If you deposited in multiple transfers we will mimic this process when sending the funds back to you. Please also understand our platform operates in USD therefore we will send the funds back to you in the currency you deposited. With this in mind, there is a currency exchange rate applied. All rates can be found on our fees page. eToro is regulated by ASIC here in Australia therefore it is not possible for us to be a scam. If you believe the rate you received is incorrect we will be happy to look at this for you. You will need to provide us with your account's username. Thank you. -eToro AU
Find out how eToro compares to other Cryptocurrency Exchanges
Know better, choose better.
- 3 reviews
- 2 likes
This is a money scam
On 29th April 2022, I received an email from etoro that they would be closing my account in 10 days without any reasons. I was concerned and asked them why. They did not explain why and they can close the account at their own discretion.
Hi Arun,
Thanks for reaching out!...
Read more We are sorry to hear that your account has been closed. As we do not have access to account information from product review we are unable to review the matter for you however if you do not meet our policy guidelines eToro reserves the right to close an account. We are heavily regulated by ASIC here in Australia and we must adhere to our regulatory guidelines. We do apologise and we wish you a positive investment future! Thank you. -eToro AU
Thank you for your response.
Your team already contacted me and they knew my account details .
You do not need to respond to this as it is unhelpful.
I did not breach any guidelines and Etoro closed my account at their own discretion .
- 2 reviews
- 7 likes
- Verified
They make money by stealing from you!
I deposited AUD $1000 into my account on Thursday, and it was automatically converted to USD. I didn't do anything with the money. Two days later, on Saturday of the same week, I decided to withdrew the money. But I only received AUD $942 Back. Two Days! ETORO charged me AUD $58 for doing nothing! I looked into the activity summery. Out of the $58, there is $5 "Withdraw Fee". The rest $53 is what I lost from converting AUD$1000 to USD and back. I checked the FX exchange rate, and it literally stayed the same during these two days. So what hap...
Read morepened is ETORO charged me a 5.3% FX conversion fees. And the conversion is compulsory and automatic. This is how ETORO makes money! Appallingly high hidden fees! I don't know what you call it but scam. And there is no asking, no warning, no explanation. What an abomination! The fact that this sort of scam company can survive is the indictment of how frothy the financial market has become. Stay away from them. You simply cannot trust your money to people like them.Hi there, thank you for reaching out! We are sorry to hear about the experience you had with our platform.
Yes, there are withdrawal fees applied in order to convert the currency for you. The same applied upon depositing funds. ...
Read more Please note that our fees are not hidden and we are transparent about fees on the platform. All fees are available to you from our fees page here -https://www.etoro.com/au/trading/fees/. It is also not possible for eToro to be a scam as we are regulated by multiple entities. Here in Australia, we are regulated by ASIC. We are very sorry to hear that you are not happy with our fees however any information you require is available to you from our help centre or customer care team. If you believe the fees that were applied are incorrect then please provide us with your account's username and we will be happy to look into this for you. Thank you and have a good day! -eToro AU
Correct. I do want to know how exactly I lost $58 after depositing $1000 to eToro and did nothing with it for 2 days. The fluctuation in FX rate does not explain such a big difference. I will make a complaint. Thank you for reminding me of it.
Hi Akira,
Thank you for getting back!...
Read more If you would like for us to ensure the correct exchange rate was applied based on our fees page please provide us with your accounts username and we will be happy to investigate this for you. Please understand that all fees are available to you at anytime from our fees page -https://www.etoro.com/au/trading/fees/. Thank you! -eToro AU
Absolutely terrible exchange terrible customer service. As dodgy as they come.
Absolutely terrible exchange terrible customer service. As dodgy as they come. I was new to investing and thought the idea was cool. It's is a terrible place to put ur money
Hi Nick, thanks for reaching out!
We are very sorry to hear that you had an unpleasant experience with our platform. ...
Read more If you can provide context to what you are referring to and we will do our best to look into this for you. Thank you! -eToro AU
Hi,
I purchased Sberbank shares from your platform and they have gone up a lot since then but you have blocked trading and are refusing to give everyone an answer on what will happen. The silence is d...
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eToro is an exorbitant and outdated investing platform
Whatever it is that you decide to invest in you should expect extremely high commissions/spread and some unfathomable overnight fees. In most situations, if you compare this broker with any other broker you would be in much more profit if you had traded on a different platform. The only truthful approbation I can give is that the site is easy to use and beginner friendly. If you ever withdraw USD and convert it to your native currency, the foreign exchange rate has hidden fees attached to it and does not feel fair at all. Overall, eToro is an e...
Read moreasy to use platform with many unfair hidden fees. Would only recommend for the case of learning how to invest and then find different platforms to trade on a fairer stage. Thanks for reading my review.Hi there,
Thanks for reaching out! We are sorry to hear that you did not enjoy our platform. Please understand that there are no hidden fees and all fees are outlined on our fees page. If you are un...
Read moresure on how the platform works we have a virtual account with 100K free funds to use at your disposal which will help you become familiar with the platform.
- 6 reviews
- 4 likes
Deserve zero stars!!
Customer service is a joke ... two days to get back to you!!
Trying to withdrwaw my funds has taken three days already and still nothing! Are they kidding??
Once I receive funds will close my account and never use again!
Hi Rob, thank you for reaching out!
We are sorry to hear of the trouble you are having regarding withdrawing funds. Please kindly provide us with your username and we will be happy to escalate this matter with our finance department. ...
Read more Thank you -eToro AUFind out how eToro compares to other Cryptocurrency Exchanges
Know better, choose better.
Dont Trade With ETORO
The stop loss in Copy Portfolio was not stated as they advertised it. I only knew it through their customer service after I lost $2500k AU. Now they change their policy on CFD half way through the trade, and now I occur overnight fees. It’s not fair customer service what customer service I got a call after 3 months. I have invested 18k AU and they treat me like SH--.
Hi there,
Thank you for reaching out! It is hard to understand the issue you are having with your account however we would like to resolve the matter for you. Please kindly provide us with your accou...
Read morents username and we can escalate this matter to management from here.
Worst Customer Experience Ever
Well, it seems like they have unfair trade practices. I was informed about conversion of CFD to real assets and not done or informed. On top of it, I got charged fees for CFD’s about which I wasn’t informed. Taking it to the AFCA now. I’m not letting them take away my money when I have proof they are wrong.
Hi there,
Thank you for reaching out! We are sorry to hear of the trouble you are having. If you are referring to the changes in crypto CFD trades to Real crypto trades we sent an email to all relev...
Read moreant users in February. This change meant that CFD crypto positions would incur overnight fees just as other CFD trades.
- 2 reviews
- 2 likes
Scam of a service
I tried to deposit 250aud into my etoro wallet and had it charged twice from my bank account for a total of 500aud, even though only 250 was actually put into my wallet. I tried to contact etoro for help, who were completely useless and said that it was a fault on my providers behalf, not theirs. So I contacted my provider, who sorted it out immediately and refunded me my 250aud. But then a few hours later I get an email from etoro saying that the charge back was a fraudulent transaction and had them threaten to cease my wallet with my funds in...
Read more it. Was then told that my account was in negative 250 dollars and to uncease my account I needed to restore that amount?? My account still continues to be in a negative balance for something that etoro messed up and provided no help with. Getting no replies to my emails. Honestly, just stay away.Hi Sophia,
Thanks for reaching out! In most cases if there was a double payment charged on your bank card and credited to your eToro account then you may reach out to us and we will return the additional $250 from our side with no fee applied. ...
Read more If the $500 did not reach your account and it only appeared as a debited amount on your bank statement then this may appear as a chargeback on our end. Please provide us with your accounts username and we will be happy to escalte this matter for you with management. We apologise for the misunderstanding in this case and we would love to put things right for you. Have a nice day! -eToro AUFind out how eToro compares to other Cryptocurrency Exchanges
Know better, choose better.
- 2 reviews
- 1 like
bogas pricing on stocks
They control pricing on stocks - this is a huge scam. "PRICES BY ETORO" So fake so you aren't even in the market with everyone else and etoro can control everything so you pretty much have all odds against you. DO NOT USE THIS PLATFORM YOU LEARNED FROM EVERYONE ELSES MISTAKES ON HERE.
Hi there, we are an online broker and we work with top-tier liquidity providers from whom we receive our prices.
If there is a particular issue you would like us to look into for you then please let us know and we will be happy to help....
Read more Have a nice day! -eToro AU
- 2 reviews
- Verified
Great app with good interface
I really like the app. The interface is good, the financial information and broker price surveys is excellent. I trade crypto and US Tech stocks and it works brilliantly.
Would recommend.
Hi Rick,
WOW thank you for your 5-star review! We absolutely love that you are enjoying our platform....
Read more Have a wonderful day. -eToro AU
- 2 reviews
- 1 like
- Verified
Scam and Fraud
The platform charge your excessively expensive exchange rate to deposit and withdraw funds, plus and USD 5 each time you transfer money out. Scammers and false representation! I transferred $1000 into the investment account, and realised it does not have the right investment folio and when I withdrew the fund back into my account i only received $960. AVOID AT ALL COST!
Hi Jeff,
Thank you for reaching out!...
Read more It is not possible for eToro to be a scam as we are a heavily regulated company. Here in Australia, we are regulated by ASIC. We are very transparent about currency conversion fees and withdrawal fees on our eToro fees page. Please note the conversion fee is applied by our intermediary bank processing the funds from your account to us. Our platform only operates in USD which is why there is a conversion rate, unfortunately, at this time we do not offer an option for other currencies. We always suggest referring to our help centre or our customer care team to ensure you understand how eToro works before starting your investing journey. We are more than happy to help if you require additional information regarding the operation of your eToro account. We also suggest checking with your bank that they don't charge an additional international fee for bank transfers. Please see our fees page for more information - https://www.etoro.com/trading/fees/. If you believe you were charged incorrectly, please let us know and we will be more than happy to investigate this for you. Have a nice rest of your day! -eToro AUQuestions & Answers
Could someone please tell me how to get the account statement for year ending 30th June 3021 and how do you withdraw money? I have been trying to contact/chat with someone at Etoro since last year but failed miserably....I am desperate and frustrated. Etoro surely must be a scam.
1. Portfolio and then History. and at the right end find the account statement. To find the account statement you will see the 30days symbol at history. Then look at the forth symbol. Thats where you ...
Read morefind the account statement. Withdraw funds is just next to invite friends. If you cant find it then you should use a laptop or desktop.
Thank you kindly LemonGod..you are the first person to communicate to me about my queries, Etoro's customer service is horrendous their motto is to "Ignore clients". Good luck to all your trading.
Hi Ricardo, thank you for reaching out to us. We are very sorry to hear of the trouble you had with getting in touch with our customer care team.
If you require any assistance with your account we w...
Read moreill be happy to help you and have a member of our support team contact you and resolve any issues you are having. As this is an external platform we do not have access to account information from here so we will need you to provide us with your accounts username.
Why do you allow constant racism, hatred and Murdoch Mafia FUD to reign supreme in your feeds and why do you ban those who speak up about it?
Hi there Mark! We are sorry to hear of the experience you had on our social feed. The only users we block are ones who go against our community guidelines as we want to ensure a social and friendly en...
Read morevironment for all users. If you feel there has been a breach in our community guidelines please tag our moderation team @eToro_Moderation. Thank you.
I have posted my review multiole times. i am legit person. Emaii and facebook. Below is my Etoro story. Why wont you post? says pendin? i keep trying pending. Do you have some agreement goung on with Etoro to block posts. They only have 2 posts for a $800 million company. They have hundreds of reviews on aother review sites?
No care for long time client an unclear message on 100% stop loss. Takes advantage of beginner taders. Support and Customers Sevice deliver canned responses to complaints. Shouldnt be called social. Spent almost 130k with Etoro. Has a problem with 3 trades worth less than a tenth. My tickets was going to take 7 days. Used chat. Some guy reviewed my 3 page letter with screen shots and says an email will come. A full canned rejection. I was willing to spend much more with Etoro on their copy system. I just could not get anyone to speak to me. Pretended things were going to be ok. They send a coward email. They just shut me down like crap after taking 130plus K. Zero respect. I will be lodging with ACCC, ASIC and financial ombardsman. There is some evidence of how a consumer could follow a certain process and be not made aware of consequences. Enough to be tested at least by the law. My pro bono lawyer will at least try. At least they can spend the cost equal to my investment regardless if I lose. Sometimes it the fight that counts more
They are thief
Tracrefund has been of great help, as they specializes in dealing with online scams and help provide reimbursement to their victims using disputes, tracking down digital fingerprints, cyber analysis a...
Read morend thorough investigation. If you fallen a victim send a detailed mail to [report@tracrefund.com] or open a case on the official website {Tracrefund.com]Hi there Brett! Thank you for taking the time to inform us of the issue you had with some of your trades. We are sorry to hear of the issue and our customer care team aims to resolve all trading inqui...
Read moreries in a fair and efficient way. If in the future you have any trading-related inquiries we would kindly ask that you reach out to our support team on Facebook or Twitter via private message with your ticket number along with a brief description of the issue. We thank you again for your feedback!Get an answer from our members and eToro representatives
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| Category | Forex & Share Trading Platforms and Cryptocurrency Exchanges |
|---|---|
| Deposit Methods | Cryptocurrency |
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Very informative
Bell Direct - great at dealing with a deceased estate
Prompt and helpful.
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Hi Damien, thank you for reaching out to us.
We are sorry to hear of the issue you are having regarding the overnight fees on your account. ...
Read more Please provide your account username and we will have your account manager contact you regarding this. Thank you! -eToro AU