Etoro withdraw problem

[hauyymm]

Please can you help me taking my money out from etoro.
I deposit high amount of money and i tried to withdraw funds from two days using paypal and its still under review.
I’m very scared that my money will not come back and i don’t know how much time should i wait to receive my money!!

[LauChoKun]

I see; FPA investigates this kind of issue; although I’m not sure will you be benefited or not! But you can try!

[Martin_K]

ok,

First thing
CALM DOWN and RELAX

Secondly
for what it’s worth
here is the regulatory infromation on etoro

Regulated by the Financial Conduct Authority, UK (FRN: 583263), and CySEC (Licence: 109/10). eToro puts all client funds in a segregated bank account and uses tier-1 banks for this. eToro have been established since 2006, and have a head office in Cyprus, UK.

Next,
i typed this question into etoro’s site and i got this answer

How long will it take to process my withdrawal request?

Withdrawal requests take up to 1 business days to process.

The time taken to receive your payment may vary depending on the payment provider involved. The typical time frame per payment method can be seen in the table below:

well. it says here 2 WORKING days
Now we are in the holiday period. so i would suggest waiting 2 more days
and then if the money does not hit the account

Raise a support ticket

also consider that maybe processing time is relevant on paypals end… perhaps

but before you go freaking out
ASK E-TORO TO EXPLAIN THE DELAY
and
ASK THEM TO GIVE YOU AN E.T.A. on the completion of transfer

if nothing comes of it. go to the regulatory board and complain
(i don’t know how much good that will do, but … hey, it’s an option)

but my first question would have been
WHY IN GODS NAME DID YOU DEPOSIT A LARGE SUM OF MONEY INTO A PROVIDER THAT YOU WERE NOT SURE THAT IS REPUTABLE AND THAT WOULD PAY OUT

I don’t get it
Why didn’t you test this out with a smaller amount
that’s why i did
Small amounts, then over time, a little larger than a little larger and so on
and when my profit level in my trading account was way above a relatively large amount , i then tested them with a large amount
so… if they took it, i still am not at a loss

Now. you are basically praying that they come good.

to give you some reassurance, i have done some quick research on etoro
it doesn’t seem like they do this all the time
SO MAYBE IT’LL BE OK

but ask them what’s going on… ok

as for how much time to wait
i personally am with another broker,
i can wait NORMALLY between 2 business days to 8 or 9 business days sometimes
THAT’S NORMAL for me
and they have always paid out… No problem

[Manxx]

I deposit high amount of money and i tried to withdraw funds from two days using paypal and its still under review.
I’m very scared that my money will not come back and i don’t know how much time should i wait to receive my money!!

What Martin says above is very sensible and appropriate.

I get the feeling from your post that you only recently deposited your money with Etoro? Have you even traded with it at all?

Brokers are under pressure to prevent transfers of funds which are for illicit purposes such as money laundering and it would not be at all surprising if they are doing some checks before releasing funds if your money has just appeared and then being immediately withdrawn again.

But I think, like Martin says, this is more likely just a question of working days over a holiday period.

[Luke_Ronchi]

Brokers are under pressure to prevent transfers of funds which are for illicit purposes such as money laundering

This is so true; and that’s way few countries are restricted for trading (for money laundering occurrence).

[Logan_Gabriel]

This is very depressing for a trader when they are not able to withdraw their money. They become anxious that they might lose their money or m might be they are attacked by scammers. First of all don’t be panic. All regulated platform is following the authority conduct. They are bind to follow their conducts. If you really found it difficult, why don’t you ask in their sites? They have the customer support and surely they will reply to you.

[Martin_K]

Brokers are under pressure to prevent transfers of funds which are for illicit purposes such as money laundering

@hauyymm
@Manxx makes a good point and it got me thinking about this.
Do you know what a coutrie’s RISK RATING is ?

simply stated, We have some countries that are peaceful most of the time,
then we have countries THAT TEND to have problems, Drugs, War, violence the majority of the time

so RISK RATINGS are assigned to certain countries for gloabl reference, Especially when travelling and trading.

My point is
if you live in a country that is high risk it will likely take longer,
I"m comparing the results to living in Australia, which is not a high risk country

In Australia, you can Sue People and company’s
when you live, they may not be as inclined to follow law or procedure

but again… FOR THIS REASON
You never trust a broker
YOU TEST A BROKER to PROVE their validity

I hope this works out for you , mate,
i hope is just holiday BS and it all works out ok

let us know what happens ok

in any case, Stay Calm and try and relax
there’s no sense in stressing until there is something to stress about
and even then, there is no sense in stressing, JUST ADRESS THE PROBLEM

[Martin_K]

First of all don’t be panic.

Yes, and Secondly, Watch, THE HITCHHIKER’S GUIDE TO THE GALAXY hehe

[guccix]

I faced similar issue. Withdraw to my bank since 04 Jan and today is already 10 Jan , still under review. However, I deposited via PayPal so they will process PayPal first and if failed then they do the bank wire.

There is also no way to contact them directly so it’s very troubling. Sent them emails also no reply.

[AlejandraBermudezv]

Two months ago, I started using Etoro, I provided them all my information to get my account verified and when It happened, I invested all my savings. This week, when I made the profit I wanted, I closed all my operations and I tried to withdraw my funds.

They told me that my petition was under review and was going to be sent to the financial department. Since then, I haven’t received any information even though, I have sent several emails.

This morning, I tried to sign into my account and I realized that my account was blocked and that I didn’t have an email nor anything with an explanation. I have been trying to contact them via Twitter, Email and Facebook and they advised in the public post to talk them via DM but when I wrote them, they didnt answer.