etoro is a scam. Do not trust your money with them
This is my experience with this awful brokerage company called etoro:
After using etoro trading platform for two years, on March 30th 2017, I realized by myself that my account was completely blocked, strange situation since I had not been given any notice. I couldnt open new positions, withdrawals were automatically rejected. Panic! I tried to get in touch with the company but it was in vain, I was ignored every time. At some point I thought their servers had been hacked.
Many days later, on April 3rd 2017, I discovered 7494.89 USD had been silently wiped out from my balance. I got really worried. I attempted many times to reach the company’s customer support to get an explanation about what had happened since I did not have a single clue, but I was told nothing.
After being ignored by etoro for more than a week (absolutely unprofessional!) I received the first reply from the company on April 7th, in which they took responsibility for both actions, alleging they had suffered delays on their price quotes during the days 20 to 24th of March 2017, alleging that I had supposedly used a strategy based on those delays and that, enabled by their terms and conditions, they had blocked my account and had taken the total profits I had made during those dates.
etoro only gave me the list of the trades that were apparently involved and refused to show me any other information. They further threatened to void all my transactions and terminate the relationship if this trading behavior continued.
This is total fraud. I was never aware of any delays during dates 20 to 24th of March on their platform, and I certainly did not develop a strategy based on them. I can’t believe this company is actually licensed.
Can’t get any more unfair than this.