It’s about two lots (I have the order numbers) with the amount of $240
I was in one click mode and about to change my stop loss for this two positions.
I entered the value in the box and clicked ok when the system kept delaying (‘small’ globe icon was rotating). and IT GOT FROZEN.
I couldn’t click anywhere at that time. Everything was disabled.
I was SOME MINUTES than the icon disappeared and at the sudden I see that my position reached the stop loss and I just lost my money. (I had no Internet connection problem, I checked)
It was very strange. I was requesting immediate refund and they responded quote: “This happened due to a market spike. …Your stop loss/ take profit rate was not traded in the market” I was with my mouth wide open when I read their response. It had nothing to do with the market. Their system was the problem so It seemed like they eluded the whole issue.
I investigated a little bit, took a snap image of 1 minute chart to see what just happened.
The positions’ closing time was 2 minutes before the actual Stop Loss. So it’s an evidence that their server is making delays and/or messing things up. They admit that there is something wrong for a while with their system and make many refunds - but of course small amounts only :13: I didn’t get any refund because it was lot of money. Take a look at the chat transcript with the support staff:
It’s another issue but there they admit their fault.
“Js Fs: I clicked History but it doesn’t list the deposit I made the last several month
Sophie: It only shows within the lst 6 months
Js Fs: ok I see, but what does it mean Bonus on the list like Bonus 0.06 cents
Js Fs: Bonus 07/01/13 Credited 06.11 USD eToro Credits
Js Fs: things like that
Sophie: it means that you were refunded this amount
Sophie: for a technical error
Sophie: or something like this
Js Fs: I see. I didn’t even know about it
Sophie: It was a technical compensation for a trade that went wrong in a guru’s account, I believe
Js Fs: ok thank you, nothing else”
It seems that, you enter the market when there was a big news, it’s very danger guys,we will got difficult to change or modify the parameters and even to close that OP…
Just away from big news…!!
yes there was a big news but the two lots were open many days before the news came out. I just simply wanted to change Stop Loss and the system didn’t let me.
Everyone is paying attention what the etoro support staff said: "Market sipke bla bla bla… " It was the system that couldn’t handle a simple stop loss value change.
When ever you are going to signup for account with almost any broker… Jus read there terms and condition carefully… Most of them clearly mentioned that we will not allow to sell buy. Stop loss… Stop limit even any entry which is made at the time when market is freeZe… Market freeze means when ever there is a big news which can affect market badly… So if you agree that terms and register your account then i dont think so to complain them…
How i consider that moments is LUCK… Becoz no one knows when u will caught by this moment… So take it easy… Thats call forex… Where anything can be happened…good as well as worst…
Luckily or unluckily worst ratio is little more high…lol
Thanks for reporting. As you’ve mentioned, eToro is responsible and does provide compensation if a loss is occurred by any sort of technical failure on our end. In such cases, the amount of the trade does not come into consideration. We simply check if there was any technical failure.
As mentioned above by Eager and fitri80, it does seem that you were trading on an extreme news event. Sometimes, when there is a big event liquidity can be limited. Therefore, changing your stop loss, take profit, or opening and closing positions, can be limited for a short time. This is stated quite clearly in section 4.4 of the Terms & Conditions on our website.
It is not a broker specific issue either. Most, if not all, brokers have similar conditions during volatile periods. We strongly advise to be prepared for such news events, to limit your exposure, and adjust SL & TP limits in advance.
I’ve read section 4.4. Nowhere it says - or if it says please lead me or quote - stop loss, take profit, or opening and closing positions would be disabled during extreme news events.
The quotes from terms and conditions are as follows…
“In the event liquidity providers are unable to provide liquidity to Us your order may experience delays in execution or You may not be able to place orders entirely.”
“Even though the foreign currencies, commodities, securities and indices markets are liquid as compared with other financial and exchange markets, the market conditions might at times render the execution of an order or of a limit on an order (either stop loss or take profit) at a stipulated price impossible.”
Meaning, that depending on market conditions, you may not be able to adjust your Stop Loss. We strongly urge our clients to view the markets as an investment opportunity. Meaning, to take a more long term perspective, reduce leverage, and place limits farther away. When you do this, the markets will become less dangerous and extreme volatility will not have an adverse effect on your performance.
It was a Low risk position - risk level x 10 almost 400 pips away from the SL - I tried to change it on time but your platform was completely disabled (I couldn’t click anywhere on the platform and it was odd). It’s true that it was during important news but it cannot be possible that even under these conditions the liquid provider or a server delays 2-3 minutes in execution.
“You can search for the most successful people at…”
Very good promotion tactics of yours I must say (trying to gain from your client’s complain). But you should FIX your platform first than searching for buyers. I copied the “most successful people” on openbook and they made me lose lot of money (40% of my account) because these “successful people” are able to change their stop loss very far away from entry price and cover it from the bonus money the get. There are many guru traders who don’t make losing trade not even 2 cents - just because they want the “price go green” only so they appear on the ‘most successful people’ list. These tactics cost us the copiers lot of money. I didn’t have that much money on my account to play like that sorry. Then I decided to trade on my own with low risk -learning that way - I was successful really I had money and risk management all set right I was very happy that I could gain small step by step and than it came your platform crash on me and discouraged me entirely from trading. I really love trading and I was good trader I can say but no one could count on your system crash.
Thanks for the compliment fjanos. I sincerely appreciate it.
You know, after working for several brokers, I’ve found that all of them sometimes have technical or liquidity issues, especially during news events. In fact, any technical company, even Google, Twitter, & Facebook go down sometimes.
We are sorry to hear that you had a bad experience with us that resulted in losing money. However, this is part of the risk you take in trading, no matter which broker you’re with.
Since the beginning of 2013 there have been significant changes in our Webtrader platform, we’ve hired an entire new QA team, and made stability a #1 priority. We’ve also changed the way Traders are ranked to give more clarity and help you decide who is doing well and who’s faking.
There may be nothing that I can say to bring you back to eToro but I would like to mention on the record that I’ve seen a much higher ratio of profitable clients here in eToro than I have at any other broker. Also, the ingenuity and innovation in the field of social trading seems to me the way of future for personal investments.
Do let me know if you have any further questions or comments, but my previous posts should be sufficient evidence that we have not deceived, tricked, or scammed you in any way and acted within our rights as a broker.
I didn’t want to reply to your thread because it’s becoming senseless for me. Not for you because you keep promoting your company through my complaint. When I buy something and it’s defective or something wrong than they change it for me or give me a refund even with technical companies yes. You keep saying how successful etoro is and stuff like that, but please take a look at your reviews and ratings among other brokers on the Web. 1-2 star ratings. Does that say to you something? It’s not about scamming me - by the way I didn’t say that in my initial post -. Its about how you treat your customers and how they feel about your company. You know how I feel? I didn’t just lose money because of your bad and faulty product but it took away more than my money, my enthusiasm and discouraged me from something that I liked to do.
That is very unfortunate, but, if the market jumps past your stop loss, ie. your stop loss is set at 1.40 but the market goes straight from 1.41 to 1.250, it has bypassed your stop loss all at once, and thus your stop loss is only executed at 1.250? I’m not 100% sure.
Too bad for me that I don’t have the benefit to show it on video because I don’t record my trades to have evidence. The thing is that their bad platform didn’t even let me change the SL value. It was far away from stop loss when I was about to change.Under any circumstances a server (especially a trading server) shouldn’t delay 2-3 minutes to execute. If it was like 2 seconds or let’s say 5 seconds than I say too bad next time better luck but We’re talking about minutes here.
