Etoro are not only a scam they are simply criminal

Broker Discussion
1

Hi. I have been suckered in.
I put thousands of hours and $$ in already and they are just ripping me off left right and centre.
The list is huge! I am getting bored of repeating my story. I just want to sue these sons of bitches!
A quick rundown on how they are currently scamming:

Charts can become scrambled and sometimes hide patterns.
Spreads can slip as you are trading.

The site will not always let you close trades claiming an error, and this is usually as you are loosing large amounts of money.

The site will sometimes sign you out and the same happens as described above. You can’t access your trades and it’s always either when you are loosing money or could be making money.
Same story on both my home and mobile internet network.

Candlesticks sometimes ghost and the last two candles move strangely not just the last one.

Sometimes when you try to add funds it says the process failed so you try again and again. I ended up transferring 4 or 5 times the amount i wanted to.

Trades vanish from the portfolio or change into other asset classes. Usually at the most inconvenient moments. $ at stake.

Customer service and chat either do not work or are unresponsive.

I left my phone number in a customer service ticket and started to receive scam calls from Tunisia.

The site is full of charlatans posing as customers but they have no time for customer service.

To be honest the list go’s on and i would like to try to get my money back including what they cost me when the site was bugging and tricking me.

Unfortunately the USD has dropped heaps since opening my account and they required all money to be converted into USD.

On a side note i used my virtual portfolio to copy some of they top investors (through their copy trading feature). I did this because i was suspicious of these traders after looking at their portfolios which did not resemble anything a top investor would do. Like buying alt coins continuously through the crash for a whole month.

Sometimes the crypto coins would be hidden amongst a large portfolio. Almost all of the suspicious traders turned out losses this month.

This is not to mention the fees and spreads. the above is all scam worthy or simply put. It’s criminal.

I am interested in suing these freaks to put a stop to this.

I have had a few run in’s in the comments sections and i am sure they were with people working for eToro as the way they bullied me and belittled me was always the same story whenever i believe i met the etorians through their chat rooms. Another thing they will do is to always recommend that if things are not working out then you should try to copy someone. Which i was already suspicious of.
To be honest it was the copy feature that brought me to eToro.
Now i am wishing i had found a more honest platform.

Does anyone know what chances i stand of suing them? If not for me then for everyone else.

I am beyond angry and tired.

I HAVE AROUND 300 SCREEN SHOTS CONCERNING THE ABOVE SCAMS SOME OF WHICH COULD BE USED AS EVIDENCE IF ANYONE WANTS TO CLUB TOGETHER AND TAKE THESE CRIMINALS DOWN.

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2

mate
you should find a lawyer and get a free consultation and see what chances you have.

Lawyers are the experts relating to these matters, not Users on babypps
speak to a lawyer mate

3

in which country are you located`?

for the EU they are registered with the FCA. they might sound like they are government but no they arent, its a company.

they might help you to get your focus in the right direction. forum wont help you in any way (besides me saying contact FCA and martin telling you contact lawyer)

https://www.fca.org.uk/contact

4

Yes guys you are right. Sorry if i posted this here. I thought it would help people to beware.
I can’t believe they can be allowed to continue to operate. The things i’ve experienced are just out of order. I really can’t believe how they can blatantly ignore people and simply bug the site.
Right now i can’t sign in and some of the markets are about to open.
Anyway just beware of this platform it is riddled with bugs and impossible to talk to anyone. It seems many people find that it is rigged not to work during peak market volatility. This go’s back many years.
I am now stuck in a position where i need to find a broker i can trust. eToro have really knocked my confidence when it comes to trusting brokers.

5

@izzzzzz6 - Thank you for letting us know about your issues with this Apparent rip off merchant - Apart from the propensity of some here to -----BLAME the VICTIM ----- Some of us actually DO care.

The “Bookie” you mention has been mentioned many times before on this forum and it would appear your experiences are not unique.

6

Whats £1 million worth to these guys thats the lunch bill…

FCA fines Interactive Brokers (UK) Limited ÂŁ1,049,412 for poor market abuse controls and failure to report suspicious client transactions | FCA

7

Sounds more like a bribe to me. This money should go back to the clients who lost their money.
Does the money go to a decent cause? Who ends up with the 1mill?
Yes Falstaff, i seem to get attacked by etorians whenever i try to tackle this subject on the site. I feel some of the etoro staff are posing as customers. They belittle you when you bring the subject up. Then sometimes it seems that someone makes you feel better afterwards. Not sure if this is part of their tactic to calm people down so they can continue to work with them and make even more money from them in the long run or if the nice person is simply a real customer. I am detecting a trend in the type of comments i get back on their site.
I did an experiment with some of their top investors that you can copy and in my VP 95% of them all lost money. When i posted the results i had 3 of those “investors” comment on it.
Saying they were real and a mix of emotions coming from them.

8

The UK FCA is a UK government agency.

9

The IB fine was imposed because of their failings to deal with potential market abuse and suspicious actions by their clients, not because of any unfair dealings by the company with its private retail traders.

Depending on your viewpoint, this means that either the FCA isn’t getting to grips with the company, or that the company complies with UK legislation when dealing with us.

10

i really hate when people state false facts.

is it my job to correct you or teach you?

what is your problem? i even gave you the link in the previous post.

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You should definitely think about suing them. However, it is a big company so it would be hard. Go talk to your lawyer first, maybe he/she will tell you if it is worth it.

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12

Hi MrDE -

False facts? Company or government agency? See how it sounds -
The FCA is set up and authorised by the UK government, and it carries out statutory duties as provided for by UK legislation. It is an authorised regulatory body, i.e. an enforcement body, and is required to enforce relevant legislation against transgressors, including by prohibition of trading, prosecution and imposing fines. They are accountable to the Treasury and to Parliament. The FCA is indeed funded by the firms under regulation, but they have no choice as to this, it is a statutory duty, and unlike a plc, the FCA is a non-profit-making body.

So to all intents and purposes, its a government agency.

A purely commercial venture like the regular plc we come across would have shareholders, profit objectives, competitors, ability to develop new markets and products, ability to invest its own cash where it wished, ability to operate outside the UK, the option to wind itself up if it wished, at the behest of the shareholders.

So the FCA sounds more like a government agency and not at all like a plc.

So, you ask what’s my problem.
I have no problem with you pointing out this is a company but as a stand-alone piece of information this is likely to mislead. It suggests that people contacting them for help might be charged a fee, that the FCA could decide to take on their enquiry or not depending on whether its profitable, that maybe there is another company they could go to who might offer a better or cheaper service than the FCA, and that they don’t have legal powers of enforcement. All of which would be wrong.

My problem is you’re not helping anyone, and if you’re not helping, yes you are a problem.

You did ask if I could read.
Sure, I can read, and you can read. I can post and you can post. But I can also understand what I read and can think about what it means.

13

you have some serious misconceptions. you falsly stated its a government agency, i showed you it isnt. now you make up false claims of things you might had in your head while thinking in the wrong directions and i might have implified which i did not.

its a typical internet forum phenomena, people cant accept when they said something wrong, then go on exlplaining in walls of texts what they actualy mean(t)- (in hindsight) or what logic is behind their actions.

i wont engage myself in a pig fight over your mistake. accept it, get over it and learn- instead of dennying everything which does not make perfect logic in your head in the very first moment.

14

What’s a pig fight please?

15

“I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it.”

its a common used sentence in describing a situation wher the opponent wants to engage in a situation out of which nobody will come out clean, but the opponet at least will enjoy the fight- which you (me) wont since its not worth it.

im not saying or implifiyng you are a pig or anything. it is just a old saying used in such situations.

Just like: “Cant get clean taking a bath in the yellow river” - meaning: you will never come out clean trying to clean yourself in the masses (crowds) - it can be understand in form of: if you deal with forum (yellow river) expect to get in touch with a lot of dirt- and you cant get out clean.

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That’s priceless, I love it. Its probably good advice too.

Have a good day.

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You too, and thank you for understanding i really appreciate it. And i appologize for the rough tone in my first post with “cant you read” etc. - just came out of a long meeting and posted before my first cigarette, so had a bit of a bad mood before posting.

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18

No worries here mate. Cheerio.

19

Says it all really doesn’t it…?

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20

No. It isn’t a membership club, this is a mandatory levy to pay for the regulator’s costs.

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