eToro no longer taking US clients?!

Trading Discussion
1

I just talked to a rep in live chat yesterday, who told me eToro is no longer taking US traders as clients.

WTF is going on? Is the CFTC trying to shut down every forex broker there is? This particular broker is a large and well-known company who as far as I know is registered with them and the NFA. What gives?

I’m a newbie and was really hoping to get with them, I just didn’t have the $500 minimum they require yet. Their overseas clients are only required to deposit $50, so they must have already been under pressure by US regulators.

What can a new trader do? Go to Oanda?

2

I think Oanda is the ideal option.

3

Thank your lucky stars you didn’t sign on with E-Toro.

Oanda is a MUCH better option.

4

Hi Panache1,

Thank you for asking about this it is a very important question. Please see the official response from our PR team:

As part of our ongoing optimization process currently underway in the US, we have temporarily suspended our service there.

Therefore, at this time we will not be accepting new clients or funds from existing US customers.

You are welcome to continue experiencing eToro through our practice mode, which will stay available and free to all.

We will update all registered US users once our systems will be available again.

Thanks for bearing with us.

Best regards,
Mati Greenspan
eToro Support Team

5

Is this true? I mean that they are no longer accepting US users? What could be the reason to this? I think a huge portion or their users are from US.