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Forget about trying to get your money back!
Setting up an account pretty much requires a pound of flesh, trying to get your money out will cost your first born. Every trade there seems to be a 3% margin, you pay 3% more for a stock on opening a trade, and you get 3% less when you close one. Stay away if you want to keep your sanity..
Wrong amount shows plz check yr amount before sell. They give u less amount than real price. When u try to sell it will show u less profit n more loss
Wish there was a zero stars option
Setting up was a hassle, withdrawing even moreso. Couldn't close my trade on the app, had to sign into webpage to close trades. Terrible interface. Withdrawing funds can take 8 business days- what!! If you ever consider using etoro, please punch yourself in the face. I didn't think anything woild be more annoying that their spam youtube ads until I actually signed up and found out what annoying really meant. I would never use this platform again and I hope they go bankrupt. Also hope they return my money before that happens..
etoro Biggest Thief's - Save your money and Stay Away
I transferred my money to etoro account. within a day got a response my money is on hold and they asked for additional documents as proof of the transaction which I provided immediately. After 22 days they responded that etoro will return my money because they are unable to verify my account. They said i will receive my money within 1 or 2 weeks. Its been 4 weeks now Plus the initial 22 days. Still no response.
they have stopped answering my emails as soon i asked them to send me a receipt or invoice proof of reversing my transaction. Its bee...
The platform becomes unresponsive at the most critical point
To begin with, the customer service is absolutely terrible and while you wait for them to respond and fix their ever glitching platform, you stay losing more money and this has been their strategy for years to rip customers off because that way, they can easily blame it on the activities of the market, my complaint to fintrack .org was what got me withdrawal access to my funds.. Another one of etoro's strategy is that they sometimes run a fake operation in the background that makes it look like you profit a lot to try and make up for their slippage, and you mistakenly think that you are making money while they keep inducing you to deposit more.
Takes ever to refund your money
Although depositing money, brokerage fees were favourable and they had easy-to-use platform for equity trading, I was very disappointed by their unnecessarily lengthy cash withdrawal process. It took me 4 weeks to get my money back.
Good site for CFD
I am surprised how easy it was to withdraw money considering the reviews on here saying that they are a scam you and don't let you withdraw. Made 100 percent gain, made a withdrawal, and it took less than 2 days for it process. I'm not an Etoro employee making a fake review. Maybe I was lucky, could be 5 stars if spreads were better.
Don't even think of using this company (Biggest Theives)
We have deposited money from some different account by mistake and now two months on still chasing to get our money back... never seen thieves like this in Australia before. ASIC should take some action against this company. Once you deposit the funds with them, then forget to get it back.
Never deposit money you don’t get it back, I will keep posting these reviews until they return my money. Told me 10 days ago it will be between 3/5 days. Everybody needs to know what this company is like.
Save your hard-earned money and put your money elsewhere
I opened an account early in January 2021. I wired the money within days and it was received by eToro because I was contacted by their reps. I didn't realize I am not allowed to fund the account from an account not in my name. My mistake. No big deal. They said they would send the money back to the original funding account.
That was over a month ago. Multiple messages have gone unanswered before they finally replied about a week ago; confirming the refund has been approved. And here I am writing this review because they still have not refunded...the money. I have taken this issue up with AFCA. I have no idea how eToro got their license and continue to operate this way. Holding on to client's money longer than necessary should be illegal. Reading other reviews shows this issue is not uncommon.
High Risk , Very high counter party Risk
They Only accept USD
When you deposit from Australia AUD you lose percentage official rate on the conversion to USD, the exchange is set by them different to official rate.
When you withdraw Funds(can take more than three days) will cost you 5 USD plus exchange rate difference , their rate is much lower than official rate.
E.g $10000 USD will cost you around $150+ AUD loss from official rate, on the conversion, again they set the exchange rate
When you buy USA stocks and other instruments it’s not in your Name, it’s in the Etoro business name most or all trades are CFD.(Contract for Difference)
Very High counter party RISK, you could lose all your money if the company collapse....Shares when bought are not in your name, its in Etoro Custody can not be transferred to another broker, very high Risk of losing all your money stock if company collapse. Copy Trade and share purchase via etoro the share price they provide is different to official price , they seem to make a profit between what they sell you compared to the official share price. Copy trade how it works is not very transparent, how they profit from this is also not very clear, how the system cn calculate everything accurately is also not very clear Any conflict of interest for Copy Trade is also not clear. Since you don’t own anything you buy on Etoro, CFD , shares and money is in their bank , if they collapse you could lose everything you have in the account. They say they provide insurance, and Regulated, when they collapse it will be very hard to get your money back, nothing is in your name.
I just want my money back!
Unbelievable! I transferred money to my etoro account. In the first couple of days, they asked for additional documents as proof of the transaction which I provided immediately. But it's been two weeks and they neither add the balance to my account nor answer my emails. First I was only worry about the investment opportunities that I'm loosing, now my concern is my money. I just want my money back!
Great for us beginners moving up from micro investing.
Great for us begginers moving up from micro investing apps. Has a demo mode to try stuff out. And this is also great to dip your toes into crypto as they are on there too. Not sure of reward as it may change by the time you sign up.
Do NOT use eToro - They do NOT take care of their clients
Been trading and investing for years across many brokers and platforms.
eToro is hands down the WORST BROKER for customer service.
1. One of my trades closed on one of my positions which was doing very well. A mysterious 'Trailing Stop Loss' was set - eToro responded saying that the trade is completed and I've now missed on my run up.
2. Referred a friend and was ineligible due to a technicality. They've taken our money and once again not looked after us.
What a joke.
Not a good trading platform
Too much unnecessary policing,
1) Unecessary exam and have to wait for another 2 weeks to write another exam.
2) Deposit must belong to the person doing the trading. No other trading platform cares who does transfer.
3) People must submit their bank statement for money transfer. Most banks issue statements monthly that means they have to wait 1 month to submit their bank statement with names matching the trading name and then you earn interest and show the money slowly in account, by the time money is visible markets will go up.
4) Can't sea...
No care for clients
Bugs and unclear message on 100% stop loss. Takes advantage of beginner traders. Support and Customers Service deliver canned responses to complaints. Shouldn't 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 g...oing 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 ombudsman. 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.
ETORO make it impossible to Close your account
I have been trying to Close my account for 3 weeks now.
They continually call my mobile and keep asking Why I want to Close my account, yet refuse to close it.
I am taking the matter to the AFCA Ombudsman.
Do nothing but take your money
Using their web page is hard to understand, terms and conditions are as usual small and filled with legal jargon. If you want to trade an index it is a min only, of $US250.00.
As for depositing your money , instant, which is great BUT dont try to with draw it as quickly. It takes days, oh and there is a fee. of $25.00. Imagine going to your bank and they charging you $25.00 to withdraw your own money.
This forex broker is nothing but a front for being a thief.
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