EToro Reviews
Read all online object reviews on eToro.com – we grab the most relevant and comprehensive reviews on the web on eToro.com, Forex Platform
1.
eToro is a Forex broker that offers a true revolution in Forex trading, when it comes to their trading platform. eToro’s game-like experience just might be the most novice-friendly FOREX learning tool on the market today. eToro makes learning and mastering your FOREX trading skills an incredibly fun experience with a graphical user interface like no other FOREX platform, while offering a competitive platform for more experienced traders as well, known as “Expert Mode”. Beginners first venturing into the world of FOREX now have an entertaining solution to the difficulty that comes in trying to initially understand FOREX and making sense of the most highly regarded, widely used but complex FOREX platforms out there. If you are not a beginner, you can click on Expert Mode and you are presented with a standard trading environment, plus the advantage of a highly responsive, easy on the eyes, advanced trading platform.
The people behind eToro didn’t look to create another drab platform with absolutely no user interaction or a sense of community amongst users. They’ve instead produced a very lively alternative. eToro mixes the traditional FOREX platform with elements of a video game. The graphics are enough to make even a small child curious about “playing” FOREX. You keep score with other traders in the community – sometimes with a cash prize on the line to be rewarded to the champion. Even in their new addition, the Expert Mode, your experience is quick and easy, but without the game like experience, something that is not as suitable for experienced traders.
The eToro lobby has four trading areas. The first one is the FOREX Marathon. Graphic characters, ranging from a farmer (US), sumo wrestler (Japanese Yen) and a European businessman (Euros) represent each currency in the FOREX Marathon. Simply choose the currency that you’d like to buy, pick the currencies to compete against, select the amount and click the “Open Trade” button at the lower bottom right of the screen. Within these four simple clicks you have a visualization of the marathon, showing you exactly how your money is moving as you watch your character race for the finish line.
If you’d like to run more than one trade, simply click back to the lobby to open additional trades simultaneously. You can click back and forth between whatever simultaneous trades are active with the My Open Trades section in the lobby or the Trading Log screen. My Open Trades does a really nice job of allowing you to view all running trades, regardless of the trading arena, detailing the currencies you are buying/selling, the amount, profit and gain.
The Dollar Trend is the next trading area in the lobby. You choose whether the US dollar will rise or fall and the currencies to pit the dollar against. Similar to the FOREX Marathon, you watch the currencies race against one another, this time the graphics are in the shape of a coin or button, representing each currency.
The Globe Trader is the third trading area in the lobby. Make your selection and you will see a wire signal, representing your trade, between the competing countries on the trade arena’s map. A tiny info box above the wire will give you access to exactly how your trade is performing profit-wise with a more detailed breakdown at the lower left of the map.
Forex Match simulates a tug of war between currencies, representing your trading. I tend to spend a lot of time in this arena.
All trades from each trading arena will remain open until you manually close them. The trades continue running even if you close out of the program entirely. The trades will automatically close out when the market closes at the end of the week. eToro runs on historical data on the weekends so you can still practice and test your trading skills although the market is closed.
The Trading Log presents you with a breakdown of the performance of your Active Trades and your trade History.
Please note the Championship & Chat section of eToro. eToro tracks score of every individual user FOREX performance, just like video arcade games list user high scores. eToro periodically holds championship challenges with the top traders winning prizes, namely cash. Traders are also able to communicate with each other in real time in the chat room. Message board forums are coming soon.
Much of this review has focused on using eToro as an introduction to the world of FOREX. Other attractive features is there no commission policy, as well as their support for commodities in addition to currencies. eToro has also recently entered the world of real live trading. Users select whether they want to “Trade For Real” or “Trade For Fun” when logging into the system. Some personal information is required to create a Real Account. You are then set up with a username and password to enter real trading. A deposit can be made to fund your account using either a Credit Card or Wire Transfer.
For a Credit Card deposit – the minimum single deposit limit is $50, the maximum single deposit is $1,000 with a monthly deposit cap of $5,000. The Wire Transfer deposits are with a minimum single deposit of $500, a maximum single deposit limit of $5,000 with a monthly cap also at $5,000.
Funds can be withdrawn from your account by submitting a withdrawal request from the “Account Balance” section. A signed withdrawal request is required and a user’s first withdraw will require a copy of a photo ID or passport, a copy of the front and back of the credit card used to fund the trading account and a copy of some recent utility bill. There is no bank withdrawal fee but a $25 fee accompanies Wire Transfer withdrawals. Withdrawals are processed within five business days of the request.
Another recent development is that eToro recently joined forces with FX Solutions to provide a US based, NFA regulated Forex brokerage at eToroUSA. They continue to offer the same revolutionary trading platform, but now they offer it to US traders who want to trade under the NFA rules as well. This is of course an important and beneficial addition to eToro’s already impressive service.
eToro is an exciting force in the FOREX community. It’s proof that FOREX trading can be fun and entertaining. It wouldn’t be surprising to see more people catch onto FOREX, thanks to eToro’s innovative and inviting presentation. The program is in its infancy right now and it will be very interesting to see where the developers and programmers take it from here!
It is clear to anyone who uses Etoro that their big attraction is their trading platform. It is easy to use in both modes, and makes the trading experience an enjoyable one.
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2.
From http://www.forexpeacearmy.com
Felix Homogratus, USA
Rating: No Rating
Date of Post: 2007-11-12
Review: I don’t have any experience with EToro.com forex broker. If you do, please kindly submit your review.
Thanks from forex trading community!
Jeff, Cyprus
Rating: No Rating
Date of Post: 2009-12-13
Review: Hi all,
My name is Jeff, I’m an eToro representative and I would really like to address some of the issues raised here. First of all I must sincerely confess that I am shocked by some of the comments posted on this forum since for the most part our customers are very enthusiastic about our service. Then again, clients with no complaints are much less likely to post their opinion on lines.
Let’s talk about the major issues raised here:
1. Technical problems: if and when the eToro software freezes – it does not necessarily mean that there is a general problem with the software or the servers. If it happens as many times as some of the people here described the eToro platform simply may not be compatible with your system. On my personal computer eToro works perfectly fine. Secondly, on the occasion that the eToro software does freeze I strongly urge you to go to the eToro online WebTrader where you can manage your trades out of your browser. Same thing goes if you find that the trade execution is slow. This of course also depends on your internet connection.
2. Customer service: our customer support staff is highly trained, friendly and professional. If you do not want to be contacted with updates and offers you can simply let them know and you will not be bothered again. Of course, on rare occasion, miscommunications do happen and we sincerely apologize for any inconvenience we may have caused.
3. Tactics: It is absolutely not in our interest to “screw” our traders, as one of the posters claims in so many words. That is simply illogical. eToro doesn’t have a dealing desk, therefore the traders access the market directly. We do not make any money if the trader loses his account balance. The only money we make comes from the spreads – ergo it is completely in our interest that our traders succeed, i.e. make more money and open more trades. Whatever this poster may have heard must have been misunderstood. As for our back-end, I have no idea what this claim is about. It is absolutely safe and we have NEVER had security breach issue.
4. Withdrawals: eToro is operated by several reputable brokers – our company is not a broker but an IB. The withdrawal policies of these brokers vary and I strongly suggest that you always read the terms and conditions before deciding to open a real account. The withdrawal problems also may be caused by the bonus policy. Receiving a bonus always means that you have to trade a certain number of lots before being able to withdraw the bonus money.
5. Market orders: eToro is now developing a new version of the software with market orders which will be out soon.
6. U.S. traders: traders based in the U.S. cannot open an eToro account. They can however open an account at eToroUSA.com and trade with the eToro platform. eToroUSA is the IB for FXSOL. It is licensed by the CFTC and regulated by the NFA.
I hope this settles it. I would like to thank all the posters for bringing all these issues to our attention. We will certainly take your feedback into consideration and use it to improve in the areas where our service is found to be less than excellent.
Best regards,
Jeff McKenzie,
eToro Customer Service
Sumit Kumar Ram, Khurda,Orissa,india
Rating:
Date of Post: 2009-12-12
Review: I am join etoro with 1 year exp and its a very easy and well plat form for any kind of age group people and easily understandable and highly supporting .Over a its a complite package for trading in forex.so in my opnion go for etoro. Its also good supporting bonus compare to other and the clients are also well treeted by the account manager.In case of mine my account manager jitu malhotra help me a lot to bring my investment in top of the sky….
Bob, Netherlands
Rating:
Date of Post: 2009-11-13
Review: I have 2 types of contact with eToro
As am introducer broker:
I attended an affiliate summit a few months back, there were some senior representatives just advising their future introducing brokers to “screw” their traders. Their advise was: Build 2 websites and tell them (the IB’s traders) to BUY EURUSD and tell them to SELL EURUSD on the other one. Their opinion was: You get twice the spread and you are guaranteed that your traders don’t all go broke at the same time. The more serious audience was STUNNED… some of them left, I actually stayed to make sure I heard their crap correctly and if they were about to say more dumb stuff.
I have been a trader myself and I can tell you: If any serious regulator finds out about this, they can close the shop…
Another thing that stinks is: Their “back end” has serious flaws. I am not going to go in details about this, but I can tell that your details are NOT safe at eToro (not for IB and traders)
I will never ever expose my clients (potential and current) to these bunch of bucketshop owners.
As a trader:
These guys are just a bunch of aggressive phone-spammers. They will NOT stop calling you and bugging you until you get VERY rude to them. I mean: 7 calls in a day is overdone. I never experienced anything “funny” while trading except for the fact that the slippage is huge.
Another “funky” thing is: they dont allow you to withdraw all of your money. you NEED to keep $100 in your account. If you want that last $100 too, you can have it, but they will close your account. (As stated in their T&C)
Furthermore: I do not like their aproach: Forex is NOT a game, but that is just personal, so no deductions for that.
James, London
Rating:
Date of Post: 2009-11-06
Review: Etoro is a joke. I started with them a few months ago. I read all of the bad reviews on here and was actually going to write a good review about Etoro because I felt they were a good broker when i first started trading with them. However I have found they are a bunch of useless losers. I have read on here that some people find the customer service good? How can customer service be good when the customer is blamed for the problems with Etoro. Recently I called to say I can’t log into the platform, after all teh rubbish they tell you which does not work, I got a bit upset with the lady on the other end of the phone. Her reply to me was ‘you got $250 bonus so you cant complain’ This is ridiculous!!! When i tried to withdraw my money I again had more problems. I’ve got over $7000 with Etoro and they are still holding on to it! My advice to anyone thinking of joining etoro is STAY AWAY! Yes their platform is simple to use and at first they seem like a good choice, but just wait a few months and you’ll have the same problems as everyone else on this forum. How can one company have so many bad reviews (which they obviously know about) but do nothing about them. The server always freezes when news is comming out so you cant make any trades. When you are doing well in a trade and want to close, the server yet again freezes! STAY AWAY FROM THIS BS COMPANY. They are as close to a scam as you can possible get without actually being a scam! My account manager is called ADAM SHIRLING, if you have him, tell them you want a new manager because this guy is useless. All he does is try to get you to deposit more money!!!!!!!!!
Eugene, Singapore
Rating:
Date of Post: 2009-11-05
Review: Super Poor Unreliable System. Always down especially during 3 major market opening. Slippage high during volatile times. execution slow. Lost my entire account due to the system downtime as there is no way you can close your position. Compensation takes a long time, most of them I lost track and no compensation on certain of my loses.
Conclusion: Stay away even though they have good bonus. You will end up losing everything due to their extremely unreliable server. Sometimes I feel it may be done purposely, server down is just an excuse.
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bf, new york, ny
Rating:
Date of Post: 2009-10-20
Review: they are an IB for one of the most reputable fcm’s out there, FXsol….. these guys have impeccable customer service, and one of the EASIEST platforms out there. they also walk you through the whole process from start to finish perfect for beginners.
Chris Godwin, Australia
Rating:
Date of Post: 2009-10-19
Review: I was using eToro as practice account i enjoyed using this platform only on practice. As I got a live account of $500 AUD which is only $412 USD but I did get the bonus which just made up for the currency exchange. The problem I found was that the minimum trade i could put was $25, now thats ok if you have a $5000 account but i have been to seminars and read a lot of books on charting and forex and it is recommened to only trade 1% or 2% of your trading account so with a $500 account i was basically risking 5% of my account every trade and that is not including the spread. My account is now down to $24.05 so i cant place a trade as the minimum is $25.00 per trade so i have to add a dollar or so, so i can place the final trade. After hearing the complaints of not being able to get their money back i would not bother for $24. I will NOT be doing anymore live trading with eToro, but will still use there practice platform. I am glad I only started with $500 with this platform. It has taught me a lot though and the next platform i will use will be australian so i dont loose money on the exchange especially when using more then just $500
Sunil, London
Rating:
Date of Post: 2009-10-16
Review: It is the worst platform I came across.
1 . freezes 2-6 hours every weekduring peak times and times when you can make money.
2. poor execution. Always 8-10 pip delay for execution on top of spreads.
3. You cannot do market orders. You have to wait manually to open trades and when you open you loose out 8-10 pips due to poor execution. There is no trailing stops either.
4 Spread is on the higher band.
5 unethical practices like taking stops of before it actually hit the stop. If you complain they adjust the pricing . I have screenshots which has 2 graphs from etoro with 2 different prices for the same time. At times I think they dont even execute your orders , but no proof for that.
5 Customer support is the worst, they make you wait hours.
I would like to call this a Scam…trading as such is a hard thing ..you need atleast a friendly broker and a platform.
Dave, Toronto
Rating:
Date of Post: 2009-09-28
Review: OMG, OMG…… Is anyone calling these guys a serious broker? lol. Their software looks to have been designed by Walt Disney! Their charts are absolute c**p, There’s no flexibility to seriously manage more than one chart at a time. The spreads are high, slippage gallore. The software looks like something from my sons video games. Like what’s with the tug of war annimations? lol. You can’t place a market order without having a spread limit added to it. The software locks up and freezes, and I beleive that the company adds in additional pips for themselves even after their posted spreads with turning your order into a limit order. lol.
WHAT’S WRONG WITH THIS PICTURE PEOPLE?
This whole system stinks and if I wasn’t laughing so hard I would just simply be dumbfounded as to how this company can still be in business. Yes some people will make money if they are good, (or extremely lucky short term). But if I were using etoro against another broker executing the exact same trades at the exact same time then my profit would be about 20% less with Etoro than with another broker. That’s how much this company skims off the top of your trades. So people please get smart and find a broker that does not operate this way. I’ve tested quite a few of em out there and they do exist! So take the time and do your research. It’ll save you time, frustration, and money in the end.
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3.
http://forextopten.com
Customer Reviews of “eToro”
Review by Daniel Sandity, August 26, 2009
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
It’s very dificult to withdrow money. When you go to real money trading etoro connection goes down when youre making profit. When you ask help at support they kinda insult you as a ignorant. And for last: is the most famous scaming program but his team of “expand-non-scaming” is so big that when you go to a forum saying that etoro is a fraud you see the last coments saying “…rich… earn money with etoro… amazing …no problem… no scam…” please dont use this.
Best regards from the victim.
Review by Vinith, May 19, 2009
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
Etoro Sucks, and by far the worst broker in the world (saved for their platform).
Etoro has a good platform which lured me into it, but for a real account, the platform sucks. It gets disconnected way too often, and the interface gets stuck when we open trades/positions.
If you are not careful, you stand to lose a lot of money. Forex trading is risky, but the risk multiplies itself 10 times by using Etoro.
Stay away as far as possible if you are planning to trade with real money.
Review by GoldStar, March 14, 2009
* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated
1.3
I downloaded this program a few weeks ago, I’m still taking my time getting to know it but it seems to be working ok. I got an account manager who’s taking care of me and he gave me some tips that made me some money.
So far I’m enjoying it. I’ll update if I have anything to add.
Review by Eddie, March 13, 2009
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
eToro is a complete SCAM please do not invest any money with them!
Any positive reviews you may read please ignore they are written by etoro!
Review by Subra66, February 15, 2009
* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated
1
The application is great – very user friendly particularly for those who are new to forex trading. I am wondering why nobody in the Forex dealers market thought about providing such a user friendly trading software. I have used only their demo version and was impressed by the user friendly features of the application and thought why not betting £50 (or $50). But I realised the demo version data is pretty old and not a live feed. When was the last time you saw GBPUSD quoting at 1.9540? Can you believe I made $28 virtual money in few hours of buying 10000 units GBPUSD at 1.9427?
Review by Kevin, January 3, 2009
* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated
1.3
I have been trading real money with eToro for over a year and the only problem I had was when they released their US platform, I was unable to trade on the platform I had been using and never received the email that US traders needed to download the new platform. I have withdrawn money several times from them. The first time it took awhile to get my money but after that it has always gone smoothly. I believe the people who are leaving bad reviews either never used eToro or are scalpers. I wouldn’t recommend scalping with eToro.
Review by Ernest, October 23, 2008
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
I’ve been comparing eToro data with other brokers, and I noticed that you always close a position at the worst price with eToro. No matter if you buy or short, you end up losing pips every time you trade with them.
Review by Walter, September 14, 2008
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
Etoro is crime and a scam company. Look out for charts and service. Tried to call and cancel account. Never start with this scam people.
Review by Mark, May 19, 2008
* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated
1.3
I have been using the eToro platform for 6 months now and I haven’t had any problem with them at all. I tested them for a while before I invested any real money with them. They have great customer support, I had emailed them and received a reply within 1/2 hour. I also contacted them by phone the first time I cashed out and I got through right away. They also have a small spread which means more money for the trader. They have locations in Canada, United Kingdom, and Australia. Their platform is the best I’ve used so far but their charts aren’t all that great so I use other charts but I execute my trades with them. Their United States platform is powered by IFX Markets. If you use the download link on their site and your from the US, you will only be able to trade a demo account. If you want to trade a demo and real account you will need to download the US version: http://www.etoro.com/B165_A579_TClick.aspx.
Review by Andy Weiles, March 20, 2008
* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated
1.3
Wow, you guys really need to do your research…
You know the hoax about Dihydrogen Monoxide? They used to have a hoax about how dangerous dhmo is, that it causes death, that it hurts your car breaks, causes cyclones, etc etc, SCARY STUFF…
Well, the thing is Dihydrogen Monoxide is actually water (H2O), and that you can be quite certain that water is not dangerous…
The same goes for western union, which is payment method (money transfer) for individuals that wish to send money to individuals – not individual to company (http://corporate.westernunion.com/index.html?country=global). This is the standard procedure in all WU transactions, for example in the forex world. Check Forex Yard and AVAFX.
Elena Ioannov is probably their agent that transfers the money from WU to the broker.
I’m the first one to encourage precaution when sending money over the internet, but there’s nothing wrong with that method and as for what Jess said: “What can we expect from a broker based in Cyprus?”, last time I checked Cyprus was a part of europe, so I don’t see any scam here.
Review by Huskaroo, March 14, 2008
* Overall Rating 33333
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.8
I have an account there, been trading with them for a month or so and cashed out twice. As far as my experience goes they’re legit.
Review by Jess, February 27, 2008
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
Nice platform but that’s the only good thing about them. IMO these guys aren’t a safe broker. What can we expect from a broker based in Cyprus?
Review by Caleb, February 11, 2008
* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated
0.3
eToro is based in Cyprus. That’s not good but there is worse. When you read the wiring instructions (western union) to send them money, you’ll see the receiver is a person (Elena Ioannov), not eToro! I’m glad I read this before I sent them money. They even accept deposits with paypal!
I might be wrong but this seems like a good broker to run away with your money. I was ready to open an account with them (because I liked the platform) but when I noticed these dangerous signs, I couldn’t send them money.
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4.
http://forextradingplatformreviews.com
eToro eToro’s foreign currency exchange platform was designed to be user-friendly and helpful to beginning traders, and assumes that new users have no experience in forex trading. However, the tools are robust enough to be used by professional traders and has been built to trade in all major currencies in the international market. Based in Cyprus, the eToro company is led by a group of finance professionals, software developers, and marketing experts. eToro’s platform is a software download program that offers both a practice area and an actual, live trading arena.
Once a trader registers for eToro and downloads the software, the trading area is displayed as a simple, visual set of tools that allows the user to concentrate on strategy rather than the mechanics of forex trading. A user can spend unlimited time in practice before performing an actual trade. There are a variety of ways to fund a live trading account – an immediate deposit by credit card, PayPal, or Neteller, or payment methods such as wire transfer, Western Union, or MoneyGram that take a few days to fund. A new account can be funded with a minimum of $50, and there are many special promotions and bonuses for new accounts. There are no account levels; all traders have access to the same tading levels. Traders receive access to electronic content, real time information about the exchange rate of currencies, and the platform’s tools for executing transactions in the internet foreign exchange market. eToro also offers weekly practice trading chamionships among members, with cash prizes for the winners.
Support tools for traders include online chat, guided tutorials, a glossary, trading e-guide, live training over the phone. Accountholders also have access to economic info, market analysis, charts, live trader forums, and technical analysis. The customer service line is a 24-hour operation and support is offered in English, German, Arabic, Russian, Chinese, Spanish, French, and Italian. eToro offers Islamic account terms.
Learn more about “eToro”
## eToro’s First Deposite Bonuses:
First deposit $100-399 get $25 bonus
First deposit $400 – 999 get $100 bonus
First deposit $1000 – $4 999 get $250 bonus
First deposit $5 000 – $9 999 get $500 bonus
First deposit $10 000 or more $1000 bonus
Click HERE To Get Up to $1,000 Bonus with eToro
## FEEDBACK & OVERVIEW
Actual Customer Reviews and Feedbacks for eToro:
“I have been trading forex on etoro for about 2 months now and it is an amazing platform. This tool is meant for people who want to get into forex. I started with practice account and only after a long time started to trade with real money.”
portion of user review on Techcrunch.com”
…Good for beginners. It is in the form of a forex game. It puts the fun back into trading.”
portion of user review on ForexPeaceArmy.com
“…Also, it works unceasingly, and it runs expeditiously fast. This eToro is very great! Excellent. We all liked it. It’s pleasant, fast and exact…”
portion of user review on forexfinder.net
Our Reasearch on eToro:
Likes:
Simple user interface: eToro’s simple interface and user-friendly graphics make it easy for beginners to understand basic Forex concepts and begin trading.
Attractive 1st deposite Bonuses: eToro offers very attractive 1st deposite bonuses upto $1000.
A variety of support tools: eToro provides tutorials, online help, and phone support to members.
Practice trading function: Beginners can use the practice trading function and “play money” to learn Forex concepts; there is no limit to the amount of practice one can employ.
Low account minimum & Low spreads: Users can begin trading with as little as $50 in an account; there are no defined account levels with extra features. Spreads as low as 2 pips.
Dislikes:
Cartoon-like interface: The simplicity of the interface “dumbs down” forex trading and makes the process seem cartoonlike rather than reflecting the complexity of trading.
Bottom Line:
Overall, this looks like a good tool for beginners and those who wish to gain trading practice, but there may be better tools for experienced traders.
