9.6 Examples of poor Etoro platform reviewsEvidence and proof – click to view documents.
1. Etoro`s negligence and failure to carry out social responsibility interactions and duty of customer care (2, 7)
1.1 Etoro AML team acknowledged my sources of money and didnt raise red flag, part- Web Edit
1.2 Reimbursement Request due to Etoro`s conduct-parts 10-07-2020- Web Edit
1.3 Etoro Affiliate Jay Admits 7300+ complaints and 12 account terminations a year
1.4 Example of Etoro reputation – Trust Pilot cases of scammed Members
1.5 Patronising, ignoring correspondence, no training in passing news
1.6 Reddit User accusing Etoro of the same problems
1.7 Examples of poor Etoro platform reviews
Collection of evidence in progress..
2. Gross Financial Misconduct (1,5
2.1 Manipulation of account statements, calculation algorithm
0 BTC USD error with profit calculation
1 Ira`s Email with MT comments
2 Value of Etoro`s users’ reimbursements
2.1 Evidence of Etoro Wrong Doing-summary and cover letter
2.2 Evidence of Etoro Wrong Doing-details
2.3 Other Etoro problems – evidence
3 Etoro Waiver
4 Appendix 3 – Covid Crash Stop Losses, -examples of discrepancies and unclarities
5. Etoro statement- BTC errors only
6. Etoro statement- XRP errors only
7. Etoro statement- 30% of ALL positions with errors highlighted
8. Etoro statement- copy trade positions
2.2 Rounding value of open & close positions worth less than $0.01 to 1 cent (2 decimal places instead of 4, e.g. XRP) – 10% rounding
2.2A TRX Etoro vs Plus500 – 10% value rounding!
2.2B XRP Etoro vs Plus500 – 10% value rounding!
2.3 Other Etoro problems – evidence
3.1 Rounding 10% of my Ripple Close-Open rate-my lossess
Prices (not) rounded up- Ripple – Plus 500 Example
Prices rounded up- Ripple – Etoro Example
Prices rounded up- Tron – Etoro Example
Prices (not) rounded up- Tron – Plus 500 Example
7. Etoro statement- 30% of ALL positions with errors highlighted
2.3 Rounding down of profits and rounding up of losses
2.3 Other Etoro problems – evidence TRX, XRP-Web Edit
7. Etoro statement- 30% of ALL positions with errors highlighted
2.4 Execution of orders, trades against users interest ignoring fundamental & tech analysis
Evidence 1 to 10,
see also 6. Unjust Termination
2.5 Closing of non leveraged, not CFD position despite 100% stop loss
BCH closed position 24.11.2018 – my own
XRP 100% SL 03.01.2018 – another user
2.6 Closing $10,000 of copy trades in one hit without discussion or consent
Account statement excerpt
Account login activity -I wasn`t even on Etoro on the day my copy trades were closed
Collection of other evidence in progress..
Note, above evidence has sensitive data and is available only on request
- Alleged and factual Violation of legal FCA and CySEC regulations (1, 2, 5, 7, 8)
3.1 CySEC Regulations -alleged evidence against Etoro
3.2 Plus500Report_20170402_20201116 clear, plain statement-Web Edit
3.3 Appendix 3 – Covid Crash Stop Lossess, -examples of Etoro financial reporting disrepancies and unclarities
3.4 Terms of contract
3.5 Etoro not following Regulatory Complaint Procedures and closing 9 complaints without providing answer or final answer to them!
3.6 My complaint regarding Etoro obstructing & hindering complaint procedures
This and other evidence is under review for admissibility…
- APPROPRIATION and not paying out MY EtoroX CRYPTO ASSETS (2, 3) – failed attempt
Correspondence with Etoro MIMO Ira Morstyn
EtoroX Wallet Statement
EtoroX Wallet Statement over 100 days later
7.11 Argentinian platinum member waiting over 3 weeks for $170,000 withdrawal
- MISREPRESENTATION, poor quality and lack of information, false advertising, untrue reviews (2, 3, 4, 5)
5.1 Examples of Etoro publishing misleading, not factual information as purposeful Misrepresentation to attract customers
5.2 Etoro confusing correspondence with Simon Peters about FCA
5.3 Etoro-claims buy crypto service and crypto are FULLY REGULATED – 05.08.2020
5.4 Crypto not CFD 05.2018 -false illusion of safety
5.5 false advertising and in factual reviews resulting in misrepresentation
5.6 If I stay with E(EU) then my crypto are still covered by FCSA. More Confusion.
5.7 Third Party inflated reviews 4.7 score while only 2.2 on Trust Pilot- printscreen 06-12-2020
5.8 Advertised 3 working days withdrawals are appropriated for over 3 weeks ($170k case)
Terms of contract
Building of evidence in progress..
- Unjust & premature account termination-execution of trades against user (1, 3, 4, 7)
6.1 Adam from Etoro letter confirming start of bull run
6.2 Subsequent Etoro newsletters, bulletins, advertisement
6.3 BitcoinSearchVolumeAndPrice_CoindeskResearch_20 Nov 2019-same shape as in 2017
6.4 Calculation of Oct and Now prices
6.5 Kraken’s 2H2020 Sentiment Survey
6.6 Bitcoin price if 1% of AUM allocated to BTC by pension funds >>$50k
6.7 BTC surpassed $24,000 in December 2020, Etoro sold mine for $10,800!
6.8 Etoros Affiliate admits reports of 12 unjust terminations a year which can mean over 5800 globally
6.9 Top Popular Investor confirms 7300 users complain about unjust Etoro actions, meaning at least 0.4 mln Etoro users can feel treated unjust or scammed.
6.10 Illegal closure of leveraged crypto positions (CFD without expiration date) of est. 250,000 traders by Etoro in January 2021, amid parabolic price increase
Dozens of reports, articles, statistics
Building of evidence in progress..
- Issues with withdrawal of investor`s funds (6)
7.1 Etoro problems with login to do withdrawal another user
7.2 Etoro problems with login to prevent withdrawal – typical error to contact Etoro customer service
7.3 Etoro problems with withdrawal request
7.11 Argentinian platinum member waiting over 3 weeks for $170,000 withdrawal
Another Scandal, platinum member still waiting for withdrawal of $170k from Etoro, over 3 weeks! …
Correspondence
Account Statement – another user
Account Statement – my
My reporting of problems to Etoro
advertised perk for members reducing withdrawal fees not implemented by Etoro-correspondence
Collection of evidence from other users in progress..
- My personal, mental, family and legal damages (7)
Ongoing
- Offering higher memberships and other SCAM-like behaviour (7, 3)
9.1 new SCAM on the rise-Etoro case study
9.2 Etoro Affiliate Jay Admits 7300+ complaints and 12 account terminations a year 21.12.2020
9.3 Example of Etoro reputation – Trust Pilot cases of scammed Members
9.4 Reddit User accusing Etoro fo the same problems9.5 Reddit post of equally neglected user
9.5 Reddit post of equally neglected user
9.6 Examples of poor Etoro platform reviews
9.7 example of reputation – Trust Pilot case of scammed Platinum Member by Etoro
9.8 Breaching contracts and illegal closure of leveraged crypto positions of est. 250,000 traders by Etoro in January 2021
9.9 Withholding over $170,000 of Etoro traders money for over 3 weeks
9.10 Etoro PR head Amy Buttler provides false information to media, majorly neglecting scale of problem. She lied about several dozen affected accounts which then admits to be 2% of all traders, at least 250,000 users.
9.10 Grooming into Diamond Membership & Dumping
Collection of evidence in progress..
- Total claim for mental and financial damages and losses based on all claims, complaints See all above evidence
- Calculation of claims
Note, some of this information is sensitive and only available to regulators on request
My Damages
Estimation of Etoros Costs – Web Edit – WIP
Calculations (of ALL claims for damages) – Web Edit
$5.6 mln users compensation valuation
Etoro statement- BTC only
Etoro statement- XRP only
Etoro statement- 30%+ errors highlighted
Etoro statement- copy trade positions
Other sub-calculations available on request..
- OTHER documents
2.4 Possible consequences for Etoro
EXAMPLE OF EVIDENCE.
XXXXXXXX 14/12/2020
Dear Ira, Simon,
This is just a partial Hard Proof, one of many that we are collating against Etoro.
The more we research the more legal avoidance we uncover. Etoro may be a simple platform for “average joe” but nobody should be LIED TO, lied about vital facts, mislead, confused, and provided false information to sign up/register or in fact continue on the platform.
Re complaint/claim 5. MISREPRESENTATION, poor quality and lack of information, false advertising, untrue reviews (2, 3, 4, 5)
ETORO MISREPRESENTATION – LEGAL LIES to create illusion of safety and attract more users, making Etoro Services look regulated, where they are NOT!
It`s shocking that even in August 2020 Etoro kept misleading and misinforming users, stating false claims that they are FULLY REGULATED, on the main page of CRYPTO trading, just under heading “easier way to buy crypto” with “create account” button just under, so since fully regulated appears on web page dedicated to buying crypto currency it suggests that it`s a fully regulated service (and asset and whole process is fully regulated) and users don’t scroll to bottom of the page to read the tiny footprint, which actually says exactly the opposite, that crypto assets are unregulated.
There should have been at least an Asterix * or sign or caveat next to the Fully Regulated text, that it does not mean crypto, so in fact, crypto assets and buying/trading service are not regulated so should not be advertised as such.
It`s a tactical lie, misleading advertisement, misinformation, obscuring/hiding facts, luring customers into “creating account” based on false feeling of security.
It`s the hardest proof of continuous and ongoing MISREPRESENTATION by Etoro until November 2020 when they finally changed it, because I dared to accuse them of misrepresentation in July/August.
Bottom of the same page says exactly the opposite, that crypto assets are unregulated. But that information is not first but somewhere in the middle of the boring legal text. As this fact is most important it should be at the front of text, bolded and referenced to top of the page which is after all dedicated to crypto trading so all relevant warning, legal text should explain crypto first. This wasn`t the case and isn`t a case even today.
The web archives by “gobacktimemachine” http://web.archive.org show that this misrepresentation was happening until November 2020 when Etoro finally changed it, after I pointed out many problems and suggested I will accuse Etoro of misrepresentation (back in in July/August 2020).
There is more evidence being compiled, but this MAJOR HARD PROOF shows how Etoro Lied in our face ignoring legal consequences. The “just compensation for Etoro victims” awareness campaign, which we are promoting, will ensure Etoro will have to explain this to CySEC, FCA, FinCEN, ASIC or even ESMA.
Note, this PROOF is uploaded to Public Website (for Etoro, then for Ombudsman and in the meantime and forever for the Whole World) which is continuously updated while we are building a case.
Bare with us while we are reviewing documents for sensitive data to obscure it where required before publishing, originals are available immediately upon private request. Please come back soon.
See also gallery.