eToro Money 4+

I don’t understand why i need to be asked a lot of questions about investing when theres already an etoro app for investing. Plus i only opened this account to get my money back. Waited for 13 days to get my money. After it was processed, still i cant get my money back because I need to open an etoro money app to open and widthdraw my account. Still, 5 days have passed after opening this account, no one answers me why I cant verify my account because they wont accept my number being given. Thats my UK number, do they want me to use a random number i dont even use personally? Im so frustrated with this app. The customer service turned a blind eye of my pending money transaction that i want to pull out. Thank you etoro. You gave me a hard time in life for not responding to me. Ive waited for my money to get for 3 weeks now and counting. When you placed a deposit its so fast like less than a minute but wait till you widthdraw it.

Hello there, we apologize for any inconvenience. Once your account is fully verified, withdrawals should be processed smoothly. If your withdrawal issue is still unresolved, kindly contact our Social Team via X (Twitter) or Facebook with your username or ticket number, and they will assist. Best regards, Maria

I wanted to move BTC off their platform to my own wallet (not your keys, not your coins..). To do this one must first move the BTC to the 'Etoro Money' wallet.
During this transaction, an outrageous 16% of my asset was taken by Etoro, and there was no total fee estimate before the transaction, so no warning to enable an abort.
The transaction report contained the statement 'this transaction paid ~40% more in fees due to inefficiencies associated with older wallets'. Great! The blockchain transaction fee was way over the average reported for the day in question.
I then had to move my BTC from the Etoro wallet to my own wallet. Cue more outrageous fees, and another 'old wallet' penalty. It was not possible to move everything from the wallet because the transaction had to reserve a minimum amount for fees. The fees were slightly less than the reserved amount, so there is now about $20 of BTC left in the Etoro wallet that simply cannot be removed.
The wallet won't allow transfer because the estimated fee is more that the BTC amount. Why can't they enable a 'transfer out everything' option? Presumably Etoro intend to keep this remnant forever. Nice little racket they have here.

I posted a complaint ticket to Etoro's 'customer service' (haha) system. They promise a response in 10 days. After a month they've not bothered to respond. Nothing. Useless.

Avoid Etoro at all costs. Corporate theft.

Hello there, we apologize for the delayed response and hope you've received a response from our Customer Service. With our expanding client base, there are delays in responses, but answers will always be provided. Also, our Social Team is always available for assistance across our various social channels. Whenever you require escalation, you can contact our Social Team via X (Twitter) or Facebook with your username or ticket number and they will assist. We would like to clarify that the eToro fee model for the transfer of cryptoassets from the eToro investment platform to the eToro Money crypto wallet works as a dynamic mechanism. The cryptoasset transfer fees are calculated according to the size of the position. For larger positions, the fee has a maximum cap: -> Coin transfer fee 2% of the transaction size -> Fee minimum $1 (in units) -> Fee maximum $100 (in units). Please note that the final fee amount will be determined when your request is processed. In addition to the fee charged by eToro, there is a blockchain fee. Since the blockchain is external and variable, we can only give an estimate before you confirm the transfer. Please note that the final fee amount will be determined when your request is processed. Visit this link for more details: https://www.etoro.com/crypto/coin-transfer/. Best regards, Maria

This really is a bad app.

I tried to transfer LTC from the trading platform to the wallet. The coins have yet to appear in the wallet and it’s been 10 days now.

I contacted Support and got an auto-reply saying it will take up to 7 days for them to reply.

As far as I can tell, the wallet doesn’t support ADA or TRX. I guess this relates to the staking rewards eToro offers on these coins, but I don’t see why that should make a difference.

I don’t mind not having the keys. I think wider adoption of cryptocurrency will see less people wanting this. Keep it simple.

I would like to use Touch ID on my iPhone rather than entering my password every time I open it.

As a UK user, I find it hard to purchase crypto because banks will often block transactions. The eToro wallet is a potential way around this (because eToro sell other assets as well as crypto, purchases aren’t blocked by the banks) as I could use the wallet to move coins to other platforms without going through a bank. But I need to know my coins aren’t going to disappear when I try to transfer them

So far I just don’t have the confidence in this app.

Hello there, we are sorry for the delay in our response. It’s been a long time since this review was left and we hope that your LTC transfer was successful. If you need further assistance, don't hesitate to get in touch with our Customer Service at https://www.etoro.com/customer-service/. Best regards, Maria