eToro: Trade & Invest

User Experience Report

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This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.

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All Insights

TOP INSIGHTS

A weekly roundup of eToro: Trade & Invest's key feedback

Withdrawal Issues

A significant number of users, approximately 20%, report difficulties withdrawing funds from their accounts. They experience delays, lack of communication, and unexpected fees, leading to frustration and distrust in the platform.

I can't withdraw my money, it's really weird how they make it impossible to withdraw your money even if you provide all kinds of information they require.

Customer Support Problems

Around 15% of users express dissatisfaction with eToro's customer support, citing unresponsiveness and generic responses. This lack of effective communication exacerbates user frustrations, especially when dealing with account issues.

Terrible customer support. I am livid with this platform and would not recommend it to anyone!!

Hidden Fees

Approximately 10% of users are concerned about hidden fees that are not clearly communicated upfront. These fees, including conversion and withdrawal charges, often surprise users and diminish their trust in the platform.

Riddled with hidden fees and withdrawal takes forever. I tried it once and never will again.

Verification Delays

About 8% of users face prolonged verification processes, which prevent them from accessing full account functionalities. This issue leads to missed trading opportunities and increased user frustration.

Waiting almost a week for verification when they say 24 hours. Continued emails about verifying my account to get started, yet they have all the documents and are not verifying.

COMPETITORS ANALYSIS

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#1 USERS CHOICE

Webull

Webull receives praise for its comprehensive trading tools and user-friendly interface, making it a favorite among both experienced and novice traders. However, some users express frustration with customer service and occasional technical issues.

#2 RUNNER UP

Robinhood

Robinhood is appreciated for its simplicity and accessibility, especially for beginners, and its pioneering role in commission-free trading. Nonetheless, it faces criticism for customer service issues and technical glitches during high market volatility.

#3 Straggler

eToro: Trade & Invest

eToro is valued for its user-friendly platform and innovative features like CopyTrader, but users report issues with customer service, account verification, and technical stability during volatile market periods.

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Nuggets

Major Highlights of the Week

Unexplained Account Closures

Users experience sudden account closures without clear explanations, leading to financial losses and frustration. The lack of transparency and communication from eToro raises concerns about trust and reliability.

eToro closed my account with no reason, and I can't access my funds or get a proper response from support.

Withdrawal Difficulties

Many users report significant challenges in withdrawing their funds, facing delays and unhelpful customer support. This issue creates a perception of financial insecurity and distrust in the platform.

I can't withdraw my money, and customer support is no help at all.

Hidden Fees

Users are frustrated by unexpected fees that are not clearly disclosed, impacting their investment returns. This lack of fee transparency damages eToro's reputation and user satisfaction.

I was charged hidden fees that weren't apparent until I checked the detailed reports.

Verification Issues

The verification process is cumbersome and often results in account limitations, preventing users from trading or withdrawing funds. This inefficiency in account management leads to user dissatisfaction.

My account is limited despite being verified, and I can't trade or withdraw my money.

Customer Support Ineffectiveness

Users frequently encounter unresponsive or unhelpful customer support, which fails to resolve critical issues. This lack of effective support undermines user confidence in eToro's service.

Customer support is unresponsive, and my issues remain unresolved for weeks.

Platform Instability

Technical issues such as app crashes and slow performance during critical trading times frustrate users. These technical shortcomings hinder the trading experience and can lead to financial losses.

The app crashes during market hours, preventing me from trading effectively.

Nuggets

Major Highlights of the Week

Everything you need to know about user experience

Unexplained Account Closures

Withdrawal Difficulties

Hidden Fees

Users are frustrated by unexpected fees that are not clearly disclosed, impacting their investment returns. This lack of fee transparency damages eToro's reputation and user satisfaction.

Verification Issues

Customer Support Ineffectiveness

Users frequently encounter unresponsive or unhelpful customer support, which fails to resolve critical issues. This lack of effective support undermines user confidence in eToro's service.

Platform Instability

Technical issues such as app crashes and slow performance during critical trading times frustrate users. These technical shortcomings hinder the trading experience and can lead to financial losses.

Quotes of the week

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I have been using eToro for 4 years and was shocked when my positions for Tron and Dogecoin were closed without my consent. I lost a significant amount of money and customer service has been unresponsive. I can't buy more Tron in the US, which is frustrating.

Ged-Do

The app is easy to use and great for beginners, but the 'copy trader' feature is now less useful because it doesn't allow copying open trades, which can lead to bad trades from the start.

A Google user

I was unable to withdraw my funds, and customer service was unhelpful. The app has too many hidden fees, making it a poor choice for trading.

A Google user

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The quotes of the week

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Candice Wu

App Store

The app is easy to use and great for beginners, but the 'copy trader' feature is now less useful because it doesn't allow copying open trades, which can lead to bad trades from the start.

Kelly Williams

Google Play

I was unable to withdraw my funds, and customer service was unhelpful. The app has too many hidden fees, making it a poor choice for trading.

Koray Okumus

Google Play

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User Experience Report

Report Date

eToro: Trade & Invest

Top Insights This Week

Withdrawal Issues

Customer Support Problems

Hidden Fees

Verification Delays

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Major Highlights of the Week

Major Highlights of the Week

Hear from some of the most impactful users to drive changes

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The quotes of the week

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Search through all your feedback, instantly

Use AI to automate and prioritize your feedback analysis

Send surveys and analyze them with AI

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Benchmark your company's feedback against your competitors

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