REVIEWS OF ETORO [FROM REAL USERS]
If you are looking to open an account with eToro, the popular Forex and CFD trading platform, and you are browsing the internet to find opinions from real users, you have come to the right place. What do we mean by 'real users'? Well, what other platform comparison sites do is basically give you their own opinion. But this is not 100% reliable, is it? It just doesn't sound good.
We have searched for the most representative positive and negative opinions to describe the experience on this platform. How did we do it? We checked out the site trustpilot.com, which is the largest global website that collects information from services. Real users of every good or service on which an opinion can be given leave their comments on them at Trust Pilot. In this article, we collect good and bad thoughts representing the “heard on the street” comments regarding the Broker. We include the reviewer's name so that, if you are in doubt, you can look it up on trustpilot.com.
eToro's 5 Star Reviews (Excellent)
Joseph Calvill: “Etoro is great it help me bet on ethereum price action back in 2017. Bank transfer was smooth, both too and from etoros account. Will use again when I see an opportunity in the market.”
Paul Jones: “Been with eturo for a month now and so far no issues. A lot of the bad reviews seem to be about withdrawing funds etc- in the world we live in now we have to prove where we get our money (source of funds) so expect questions and supply the documentation and it is fine. Not had any issues since being verified. The site gives you the opportunity to learn on the cheap about trading ( just stay in control and don’t chase- yes I know not easy to do). Copying other investors is a really good idea - you have the chance to make some good gains and also have an insight into how they trade. Eturo want you to succeed that way you keep trading and they keep making money. All in all I like the business model.”
Royce Triston: “One of the easiest way to jump in trade currency, stocks etc. Good customer support as well.”
Arie Dia: “The platform is really user friendly. I am quite happy with my overall experience with Etoro. I don't have issue with withdrawing my money after I completed the verification, it took 2-3 business days for my money to be in my bank account. One thing that bothers me a bit is the graph on the stats page. Sometimes it took a bit while to get updated. In a nutshell, I recommend this platform. Trade responsibly!”
And finally, we mention Matthew Gregory’s opinion, who rated eToro with 5 stars, and left the most detailed opinion we could found. Matthew posted: “I've been using eToro (UK) for nearly 12 months now with no issues. Looking at many of the negative reviews here I would bet they nearly always involve people trading volatile assets, like crypto, using leverage. Reading the social posts on eToro you can quickly see that people don't understand leverage, or are simply bitter from a big loss which was probably tantamount to gambling in the first instance. In my view, established brokers like HL and IG could learn a lot from eToro's approach to fees and UI. I am using HL and IF less and less due to the fees involved. To quickly summarise:
No trading issues whatsoever (I don't use any leverage)
Interface is fantastic and very intuitive
Social features are fun (if you can stomach the bragging of amateur hour investors!)
Tested the withdrawal feature which credited my PayPal account within 24 hours.
No fees, although spreads can be quite wide for some assets.
eToro UK is FCA regulated and covered by the FSCS
Two-factor auth security (which brokers like HL and IG lack)
Not as many listed assets as other established brokers like HL or IG, but eToro are adding more all the time
Can be tricky to identify dividend payments without going into the reporting features in detail.
It is apparent that this site attracts gamblers. eToro may want to look at their education practises and account restrictions (in the same way gambling sites do). Again, from reading the social posts it's obvious some people are there for the 'buzz' because they use words like 'adrenaline' and 'pumped' when talking about their investments. This is simply people replacing their favourite horse with Tesla stock. In my view investing should, for the most part, be emotionless.
I was sceptical going in, but I'm enjoying everything about eToro so far. With a little work on building trust with more 'professional' investors, they could really challenge the likes of HL in the next few years. HL need to up their game.”
eToro's 3 Star Reviews (Average)
Now we dive into the not so good opinions. Real users say about eToro:
Petko Dimitrov: “These people .... Want so many documents, my mom has been runing, to get them and upload in decent time, only to get rejected, because these incompetent people dont know how to read a document and compare letter from a paper to letter on their screen... Absolute bullsssh . Now she will loose transaction fees and stray away from trading .... Thanks etoro ..., Absolutely disgusting experience”
Flora McDonald: “I've started using etoro recently because it's easier to trade than my halifax account which charges £12 to open or close a trade. I also I'd pay 15% tax if buying US etc. Etoro is fun and user friendly but there are some strange happenings . Sudden glitches or unable to trade at times etc. I think it's a good beginners platform to learn and gain experience.”
eToro's 1 Star Reviews (Bad)
Joo Vähem: “Fees are crazy, when u deposit funds and cant verify ID your funds will be locked in etoro crappy website. UPDATE!!! I've been trying to talk with customer support dude waiting time is up to 7 days for him to response.. Then i have another question or need to answer smth.. Another 7days.. And so on. I'm 21 and I guess I will be 27 when I get my money refunded.”
Marco Silva: “What can I say other than I wholeheartedly agree with the increasingly growing 1 star reviews? Shocking service - too slow & does not address your issues. Platform freezes & outages are common seemingly when you're trading into profit & spreads make it way too marginal to make quick trades when the market is volatile, ie: you cannot trade in & out quickly as you'll have to wait for the stock to move 2% (!) before the trade becomes profitable. I was a Platinum member ($30K +) & was planning to grow to $100K but I have now liquidated my account after only 2 months. I want a trading company which excels on customer service & has a platform which is accurate/ less glitchy.”
Hsiang Huang Pang: “I don’t get it, why the customer service so bad and un pro. I had wire transfer about 14,000 USD to Etoro on 08/10/2020, just take one mistake that wrote wrong reference number on memo, so I open a ticket about it, gave all the information, but the effectiveness so bad, every time they respond with useless canned messages, and after me offer new info, take them about 2 days or more to response again. Since then, my money still not entering my etoro account, and the customer center just keep asking same old info.”