eToro Review [2024] – Is eToro a Scam or Legit?

Table of Contents

Etoro Review 2021- Is it legit or a scam?
  • Easy To Use?
  • Cost
  • Profitability
  • Time Needed


  • Decent Platform, Very User Friendly
  • The Idea Of Social And Copy Trading Is Good In Principal
  • Easy To Deposit And Withdraw Funds
  • Quality Of Traders Is Just Not There
  • Margins Are Quite High

Our eToro review has moved! Check it out over on Medium.

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14 thoughts on “eToro Review [2024] – Is eToro a Scam or Legit?”

  1. I lost one week of my holidays fighting for my lifetime savings as they did not let me withdraw. They are nothing but scammers. Do I care if the VIRTUAL ETORO accounts are regulated? Not at all. I care about the real accounts. Etoro is being sued in the US and probably elsewhere (see reddit users who sue them). Don’t put a cent into ETORO as you may never get it back. They must be boycotted as they do steal money.

  2. EToro is a scam. I opened an account in early October 2023 and gave them all the “know your customer” info and i.d. they requested. I lodged €200 and bought bitcoin. Within 10 days I had issues with my account and they said it was due to missing info even though they had marked my account validated. They sent a mail demanding more i.d. and copies of my credit cards saying if I did not supply within 24 hours, they’d freeze my account and empty it. I gave them what they asked for with my credit card number part covered for security. They still froze my account. I sold my bitcoin for a minor profit and went to withdraw the funds. EToro wont allow me to withdraw. I’ve given them all the i.d. and info they looked for but they are holding onto my c.€210. Like all abusers and fraudsters, eToro try to manipulate and blame those they are exploiting. I am so glad I only had €200 sent to my account. I thought I had done my homework trying to avoid being scammed but eToro have managed to get various financial analysts to give them good reviews or say thay are safe. Just try getting your money back and you’ll find out how terrible eToro are.

    • Sorry to hear about your bad experience with Etoro and thanks for leaving your own review. I didn’t haven problems getting money out personally and not sure why this happened to you, but it’s terrible if they are not paying people!

    • Exactly. They just blocked my account as I wrote a comment on what happened to me. I managed to empty it after putting 60 hours of work into it and trying to withdraw 1000 times if not much more. There was ZERO costumer support. Please if you cannot withdraw I ended up being successful due to probably a malfunction of their site which gave me a minute of being able to withdraw 100 dollars at a time (I did that over ten times then this window closed) and I got the vast amount out by linking a newly created PayPal account that had the same email as the ETORO account. All my other bank accounts and my PayPal account could not be linked (so the banks said they were linked). Try creating a PayPal account with the same email address. I hate PayPal so I was trying PayPal accounts as the last step. I also linked 6 credit cards and 3 debit cards but they pretended they were not linked. I tried to withdraw to the debit card I used for funding but they pretended to not have access to it/ it did not show up no matter how often I linked it.

  3. Crikey, I was looking into Etoro, but I’m staying well clear after these posts, the sound dodgy as hell.

    Thanks for the posts folks, very useful indeed

  4. ETORO SCAM = 100% YES
    Sorry but Etoro is a scam just deposited $2k in May 2021. Money Completely Disappears.

    Etoro’s online help put you on a endless loop of fake customer service checking with financial department & back again.
    They have a play of asking for bank statements, then more info, then more info, until you give up.
    Note: Bank Confirms they have the money.

    Stay Clear Everyone!

  5. Hello! I started investing with eToro a few months ago. I probably sent around 30k to eToro in several transfers. Few weeks ago, for reasons out of my control, one of the transfers I sent was returned to my bank. I asked eToro about what should be done, and right after that they limited my account. They said I should proceed with the transfer once again, but the support manager probably was in a huge confusion as my account was still limited for both … deposits and withdrawals.
    By the way, I’m a Platinum member and I’m supposed to get priority support assistance, but that’s just a huge lie. It’s just a marketing trick. No priority and actually no Support at all.
    Although my account was fully verified and I provided them with every document they asked for, I’m waiting for around 3 weeks for some assistance in this matter, with no success.
    My account is limited, with over $19,000 in balance, with no option to withdraw my money in any way. Not even to trade.
    You’ll probably ask me about support assistance???? Or even about Support Manager and Priority (as advertised)??????
    That will be a good question, as I can say that even if I asked to close my account or to leave me to cash out my money in some way, there is SILENCE. I only receive some template messages asking me to wait and to thank me for understanding. WHAT?????? Are you kidding with me?
    Is there any reason for them to hold my money for that long? I owe them anything? The funds are just in my Dollars balance. They are using my money to make profit and there is no sign about getting my money back.
    INCREDIBLE!!!!!!!! Right???????
    STAY AWAY from eToro if you want to use your money. Is easy to send them the money in the first place but it becomes impossible to get your money back.
    I’m begging them for my money. That’s not “cool” AT ALL.

    • Hi Ryan
      I read your review on eToro. Just wondering if you ever got your money back since? Sorry to see they treated you like this. I think I am also being scammed by them but thankfully I’d only sent €200 to them so am very lucky. Unfortunately a lot of so called “advisors” and analysts give them good reviews or at least have them as legit, which they clearly arent. Best of luck. Rob

  6. ETORO have blocked my account since two weeks and they ignore my emails. In this period when the Bitcoin it is very high, I have no possibility to access my account to move away my money at least. I have lost a lot of money and I having panic attacks and anxiety.I cannot sleep and I am really going to sue them for all they done to me by blocking my account.
    over 19BTC was locked in my account,thats was my total investment, i would have ended it all ,if wasnt referred to my saving grace. www,climaxrecovery,com ,they recovered all my bitcoin,please watch out who you invest with.

  7. Do not use Etoro, they took £1000 out of my bank account and attempted to take £2000 as well, but as they took all my money and overdraft with the first withdrawal couldn’t take the rest.

    I had set up an account with them. did a copy trader for a few weeks, this didn’t work well, even though the copy trader shows as having made profit, I only made a loss. then most of my initial small deposit went back into my bank account. The next morning, this morning, have found Etoro have FRAUDULENTLY TAKEN £1000 AND TRIED £2000.



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