Product: Money transfer, virtual currency, or money service

I plead with the US regulators FINRA, SIPC, and CFPB to investigate eToro practices and abuses. I am willing to provide evidence to the regulators. This review is to warn users that once they deposit their money, eToro turns getting their money back into a nightmare. eToro just keeps deposits for months and hopes users would just give up.

Below is my experience : I deposited to eToro via ACH transfer from my US bank that I have had opened for over 10 years. When I tried to withdraw my deposit back to my original checking account, eToro blocked my account with them.

I opened a case with eToro customer service. Received a robotic reply : " Please note that currently it may take up to 14 days for us to get back to you. '' A few days later, another robotic reply : " Unfortunately, once an account is blocked it can not be reopened. '' Followed my another email stating that my case has been resolved.

I opened another case. The same charade, only this time a new robotic reply saying : " Please keep in mind that from the moment a withdrawal is processed on our side it may take additional time for the funds to appear in your account. '' Followed by another email " successfully '' closing my case.

I had no choice but open another case ( there is no way to call or email eToro directly ). The circus repeated again but this time eToro email said : " We have deducted the $ $ $ $ due to the chargeback received. '' I checked my checking account. There was no chargeback and I have not had one in many years. Of course, the next email from eToro claimed my case was resolved!

This has been going on for EIGHT months. I have opened 12 cases. For some cases, eToro claimed " The amount of time needed to complete the transaction depends on the method of payment, '' then closing my case.

Several times, I have furnished eToro a verified proof of them withdrawing money from my checking account. In return, I got various excuses, no money in my account, and no way to access my blocked eToro account.

Some of the rubber stamped replies from eToro baselessly accused me with chargebacks or fraud, and their need to block my account. Yet in other cases, they directed me to check my eToro account, which of course I could not do because it was blocked by eToro : " For information regarding any and all withdrawals made in your account we welcome you to check out the withdrawal dashboard by clicking here. '' Then another robotic email claiming my case was successfully resolved. Imagine my frustration after each case that I painstakingly described and provided evidence to eToro, only to get another email saying how it was " resolved. '' In my experience with variou
s US banks and trading platforms, eToro rates as absolutely atrociously worst.

Other reviews here provide evidence that my experience with eToro is far from unique. I am willing to cooperate with any US regulator and the attorney general office to stop this circus that eToro is playing with its customers and their funds. With impunity, eToro has been abusing its license to operate in the US and many users have been hurt and locked out of their legitimate funds.

Only after I posted my review online, eToro eventually contacted me and instead of refunding via ACH wired money back ( resulting in the incoming wire free from my bank ). This all happened over 8 months later after my initial deposit and after many MANY hours of frustration as evidenced by my tens upon tens of of email exchanges with eToro.7 This all just to get my legitimate deposit back. How can such a company legitimately operate in the USA?