Etoro cost me money. Can anyone recommend a better site?

[VikingMerchant]

TL;DR: Etoro is crap and I need a better broker

I’ve been trading on Etoro for some time now. I’m a total newbie to day trading and am learning while taking some (expected) losses. And that’s fine with me. You cannot learn how to trade forex etc. without doing some mistakes and learning from them. But there are acceptable losses (one’s own mistake) and then there are unacceptable losses (someone else’s mistake). And I’ve lost money today and yesterday because of Etoro. I have experienced:

Lags when trying to manually open a trade, realizing that it opens in a totally different price than it was when I pressed the final button. In the worst case scenario, it took almost 2 minutes to process.

Lags when trying to manually close trades with similar results as described above. At some trades I was in +10 USD when I hit the final button, but after a laggy execution process, I was in minus instead.

Stop losses and take profits not working. Yesterday I lost 90 USD because the system didn’t process my stop loss. I had set it to a stop loss of 20% of the invested amount, but when I checked the trade later, it had closed due to a stop loss of 100%. I immediately resolved that it was my own mistake, but it happened again today, and at that particular trade I am 100% sure that I set the stop loss properly because of yesterday’s mistake (which, I believe, turned out not to be MY mistake).

On top of that, I have no idea how my recent EUR/USD trade went. I tried to manually close the trade when I hit 50% profit, but after a minute of processing time, the order still wasn’t closed and still appeared on the open orders (or what it’s called) list. It reached the 100% stop loss later, but it still showed up. The chat wasn’t working so I decided to logout and login again. I haven’t been able to log in ever since. And that was about an hour ago.

So, can anyone recommend a better broker than etoro? I want to be able to trade forex, commodities and individual stocks if that is possible. I’ve tried to search on google, but the internet is flooded with brokersites, and I do not want to do the same mistake again.

Thank you for your time. This thread became a little longer than what I expected.

[SoundOfLight]

what country are you from? some brokers have limitations on who can open an account. also, how much (ballpark) are you looking to transfer over? $100? $10,000?

[VikingMerchant]

I’m from Denmark, and I plan to transfer not more than 250 USD

[VikingMerchant]

"Temporarily down for maintenance

We are currently down for scheduled maintenance, service will resume shortly.

We apologize for the inconvenience.

For further assistance please click here to access our HELP page."

HAHAHA: Scheduled maintenance at this time of day?? WTF??

[SoundOfLight]

i’m with Dukascopy, zero problems of any kind, but for $250 you might need to look at their European option. still part of Dukas i think, but tailored to smaller amounts.

[TheLastBear]

I can recommend PaxForex to you. I have been with them for a while and can only report positively about this broker. Great customer service, full disclosure and some great bonuses. They also run their own forex blog and offer daily recommendations.

[Haley12]

These days all most all brokers have negative and positive reviews from traders. Even more negative and less positive therefore my recommendation goes for Oanda and avafx.

[NextGenFX]

Goto tradeforexoffshore dot com. Like Crypto said. Ive been there since the beginning of the year and its unlike any other broker out there.

[fibo777]

Sad story. Write a letter of complaint to the company explaining your situation. If you can prove it that it is their fault they might give back some of what you have lost. It once happened to me with Refco (it went bankrupt long time ago). But they compensated one specific trade that I had loss on, because I proved it was their fault (the stop did not work). So, you should try to do that too.
Oanda has been a good broker. At least for me. Might try trading with them. You can limit sizes of units you want to trade. It is important as the amount you are going to trade (250) is very small.
Good luck!

[dennis14685]

i’m with Dukascopy, zero problems of any kind, but for $250 you might need to look at their European option. still part of Dukas i think, but tailored to smaller amounts.

how long have you been with duka? im thinking about transfering to them whats the pros and cons?

[dudest]

TL;DR: Etoro is crap and I need a better broker

I’ve been trading on Etoro for some time now. I’m a total newbie to day trading and am learning while taking some (expected) losses. And that’s fine with me. You cannot learn how to trade forex etc. without doing some mistakes and learning from them. But there are acceptable losses (one’s own mistake) and then there are unacceptable losses (someone else’s mistake). And I’ve lost money today and yesterday because of Etoro. I have experienced:

Lags when trying to manually open a trade, realizing that it opens in a totally different price than it was when I pressed the final button. In the worst case scenario, it took almost 2 minutes to process.

Lags when trying to manually close trades with similar results as described above. At some trades I was in +10 USD when I hit the final button, but after a laggy execution process, I was in minus instead.

Stop losses and take profits not working. Yesterday I lost 90 USD because the system didn’t process my stop loss. I had set it to a stop loss of 20% of the invested amount, but when I checked the trade later, it had closed due to a stop loss of 100%. I immediately resolved that it was my own mistake, but it happened again today, and at that particular trade I am 100% sure that I set the stop loss properly because of yesterday’s mistake (which, I believe, turned out not to be MY mistake).

On top of that, I have no idea how my recent EUR/USD trade went. I tried to manually close the trade when I hit 50% profit, but after a minute of processing time, the order still wasn’t closed and still appeared on the open orders (or what it’s called) list. It reached the 100% stop loss later, but it still showed up. The chat wasn’t working so I decided to logout and login again. I haven’t been able to log in ever since. And that was about an hour ago.

So, can anyone recommend a better broker than etoro? I want to be able to trade forex, commodities and individual stocks if that is possible. I’ve tried to search on google, but the internet is flooded with brokersites, and I do not want to do the same mistake again.

Thank you for your time. This thread became a little longer than what I expected.

Hi VikingMerchant,

As a former disappointed Etoro client, I salute you for taking the move out!, glad they are now in your past.
As I’ve already ranted in another Etoro horrors thread here on BabyPips, I won’t do so here but move straight on to your broker request.

Allow me to recommend Pepperstone (Standard or Razor account) [FOREX] and AxiTrader [INDICES+OIL]
Both have 5-day NY-close charts and the service (esp Pepperstone) is mature and professional, leagues ahead of that Etoro.

Happy trading!
Dudest

[dennis14685]

Hi VikingMerchant,

As a former disappointed Etoro client, I salute you for taking the move out!, glad they are now in your past.
As I’ve already ranted in another Etoro horrors thread here on BabyPips, I won’t do so here but move straight on to your broker request.

Allow me to recommend Pepperstone (Standard or Razor account) [FOREX] and AxiTrader [INDICES+OIL]
Both have 5-day NY-close charts and the service (esp Pepperstone) is mature and professional, leagues ahead of that Etoro.

Happy trading!
Dudest

Another bad one is APEX, I started loosing money regularly after trading with them back in 2007 and i could not pin it down why, so in 2007 i changed broker. A few weeks a go i did some research to see why i lost money back in 2007 with Apex. I found out why, for example. if you put a 200SMA on a apex chart, if price is touching the 200SMA apex will show the 200 as support when actual price on other charts is showing the 200 as residence. or visa versa. So you buy a support when you should be selling on the resistance…Nice trick APEX

[jhehe]

yep, they don’t encourage scalping and the stop loss and take profit levels are horrible. you have to constantly monitor your trades manually. go with instaforex. they have pretty good spreads and great service. i am using them and no complaints.

[SoundOfLight]

how long have you been with duka? im thinking about transfering to them whats the pros and cons?

a bit over a year, maybe 1.5 years now.

pros = nearly everything: platform, access, speed, flexibility, costs, etc
cons = long-winded account opening, high initial deposit requirement, no idea on withdrawals since i compound and have other income for living

really, no cons and tons of pros.

they don’t seem to bother to advertise much or have fancy “double your deposit” promotions cuz they don’t need to do that.

[dennis14685]

a bit over a year, maybe 1.5 years now.

pros = nearly everything: platform, access, speed, flexibility, costs, etc
cons = long-winded account opening, high initial deposit requirement, no idea on withdrawals since i compound and have other income for living

really, no cons and tons of pros.

they don’t seem to bother to advertise much or have fancy “double your deposit” promotions cuz they don’t need to do that.

Thank you for your responce

[system]

I trade forex for several years.
I think You need to add some money to that 250 to make a nice choice. At ducas and other decent brokers You need more than this.
If You can not add find a broker with a “correct” micro account.
I can recomend for this avafx, alpari, 3tgfx, ibfx
I was with all of these before.

[PiPstack]

Hi
Well I am currently making a “nice” profits in my micro account in eToro but am looking to move my business or atleast someof it to another broker. As it is am looknig to get a whole lot serious with fx.

Reasons for me looking elsewhere.
-Well glitches and suckouts (though those were fully compensated so kudos on that).
-The charts they offer are killing cpu as the studies and indicators dont follow you when you flip thru charts thus you either have to recreate them everytime or like me have 8-12 different chart windows open and the computer cooling system is screaming all day long at my office at work Even my wife knows when i am online when at home as the fan is just screaming like mad with their charts. thus i have now another charting thing online to do analysis and execute trades.
-spreads…are rather high though static which on certain cases is ok

• I hear that cassava enterprizes is somehow connected to etoro. Most of thei poker affiliates went away and cutdeals after they learned that they giveold chats to handle withdrawls in a matter that cassava gets a nice profit from wrong courses used on the withdrawls. 888 being the poker provider using them and ppls are leaving that ship fast.

WhatI am looking for from the new broker/business divider
-I can haz a micro account (as am determined to make my FX “career” from ground up)
-Atleast 1:100 leverage (would have gone with anda but they offer only 1:50 and with only 2% at the table momentarily)
-webtrading ability (also plz someone explain if there is a broker who you can open MT4 acco and webtraderacco can I use the mT4 at home and webtrader at work and the accounts all log into somekinda “major account” where my funds are?? Or can i make a copy of ym MMT4 into usb flashdrive and run MT4 thru usb memory stick?
-tightspreads…yes captain obvious.Would have gone with oanda on here too but before someone explains mewhat if i open atrade with1pip spread it moves along then news come out spreads go to20 will that affectmytrade? will the losses from high spread go away after aspike likethatis dealtwith andspread returns to the same 1 or so. So if i close the trade after the spike will my spread be again 1 or as high as 20 where it spiked during the trade??
-Skrills/moneybookers deposit and withdrawl option (thi is something I can negotiate with if the broker has good and free bank transfer thru EUbanks)
-no commission on withdrawls or atleast one free/month withdrawl

What i would have wanted to enroll with
-Oanda: tight spread and all: worrysome on the moving spreads and no skrills option on depo and only1:50 leverage which on a nano account at around 200usd is horribly slow
-Forexyard would get me 100% depobonus and 3 months of signals from an affiliate program i use (but they have high spreads fixed 3pips on majors and so on)
FXPro (minimum depo 500 is anogo as I am building from ground up)(and the dont have webtrader)
-Pepperstone. Looks great but no webtrader…same applies to GoMarkets
-Forex.com minimumdepo 500 and no micro accos
-FXCM: annoyingly hard to find if they support skrils or not prolly not?? they have ok loking tad high spreads and nice looking webtrader but looking stupendeouly slow process to register there??

plz help me…I have gone thru like million reviews and comparisons. Help me plz.
Cheers

[dudest]

Hi
Well I am currently making a “nice” profits in my micro account in eToro but am looking to move my business or atleast someof it to another broker. As it is am looknig to get a whole lot serious with fx.

Reasons for me looking elsewhere.
-Well glitches and suckouts (though those were fully compensated so kudos on that).
-The charts they offer are killing cpu as the studies and indicators dont follow you when you flip thru charts thus you either have to recreate them everytime or like me have 8-12 different chart windows open and the computer cooling system is screaming all day long at my office at work Even my wife knows when i am online when at home as the fan is just screaming like mad with their charts. thus i have now another charting thing online to do analysis and execute trades.
-spreads…are rather high though static which on certain cases is ok

• I hear that cassava enterprizes is somehow connected to etoro. Most of thei poker affiliates went away and cutdeals after they learned that they giveold chats to handle withdrawls in a matter that cassava gets a nice profit from wrong courses used on the withdrawls. 888 being the poker provider using them and ppls are leaving that ship fast.

WhatI am looking for from the new broker/business divider
-I can haz a micro account (as am determined to make my FX “career” from ground up)
-Atleast 1:100 leverage (would have gone with anda but they offer only 1:50 and with only 2% at the table momentarily)
-webtrading ability (also plz someone explain if there is a broker who you can open MT4 acco and webtraderacco can I use the mT4 at home and webtrader at work and the accounts all log into somekinda “major account” where my funds are?? Or can i make a copy of ym MMT4 into usb flashdrive and run MT4 thru usb memory stick?
-tightspreads…yes captain obvious.Would have gone with oanda on here too but before someone explains mewhat if i open atrade with1pip spread it moves along then news come out spreads go to20 will that affectmytrade? will the losses from high spread go away after aspike likethatis dealtwith andspread returns to the same 1 or so. So if i close the trade after the spike will my spread be again 1 or as high as 20 where it spiked during the trade??
-Skrills/moneybookers deposit and withdrawl option (thi is something I can negotiate with if the broker has good and free bank transfer thru EUbanks)
-no commission on withdrawls or atleast one free/month withdrawl

What i would have wanted to enroll with
-Oanda: tight spread and all: worrysome on the moving spreads and no skrills option on depo and only1:50 leverage which on a nano account at around 200usd is horribly slow
-Forexyard would get me 100% depobonus and 3 months of signals from an affiliate program i use (but they have high spreads fixed 3pips on majors and so on)
FXPro (minimum depo 500 is anogo as I am building from ground up)(and the dont have webtrader)
-Pepperstone. Looks great but no webtrader…same applies to GoMarkets
-Forex.com minimumdepo 500 and no micro accos
-FXCM: annoyingly hard to find if they support skrils or not prolly not?? they have ok loking tad high spreads and nice looking webtrader but looking stupendeouly slow process to register there??

plz help me…I have gone thru like million reviews and comparisons. Help me plz.
Cheers

PS: Pepperstone [B]does[/B] have a webtrader: https://pepperstone.com/webtrader/

Cheers

[PiPstack]

oh sweet! can you have micro account on that webtrader too? And with same benefits and whatever deposit and withdrawl rules?

Ok thats starting to look good if you can have a micro acco there

[dudest]

oh sweet! can you have micro account on that webtrader too? And with same benefits and whatever deposit and withdrawl rules?

Ok thats starting to look good if you can have a micro acco there

Yes, they do micro accounts ( min. deposit = $200 )
No restrictions on deposit and withdrawal, pretty kul guys

Cheers