Customer service is a major part of every product, especially in the FinTech sphere. Before investing both time and money on any trading platform you need to know that you’ll be taken care of. In this post, we’ll be reviewing eToro’s Customer Service and give you peace of mind (or not). But if you’re looking for general information about eToro and trading, click here.
(NOTE: Before we continue, we have to give a disclaimer that the trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. CFDs are complicated instruments that are never guaranteed to provide you supplemental earnings. In fact, Around 68% of all retail investors experienced a loss while trading CFDs. Make sure to keep this in mind before attempting to use the eToro platform yourself. All the information found on this website is not official trading advice and all practices shown are referenced for the use of the Demo account only.)
- 1 eToro: Customer service overview
- 2 eToro’s Customer Service Availability
- 3 Negative eToro reviews about the Customer Support team
- 4 Submitting a ticket on eToro’s website
- 5 The final verdict: Is eToro’s Customer Service Good or Bad
eToro: Customer service overview
eToro has established two channels to contact their customer service team. The first one is by submitting a ticket and the second one is through a live chat (below more on how to do this). Both of these options are available through the website or the application.
Two factors to consider when it comes to what channel to use are speed and complexity. If your question or issue requires immediate attention but is not complex than by all means use the chat. But if you have to provide any documents, screenshot, or similar (verification process for example), then the chat will not be a good option. Instead, you’ll most likely be redirected to submit a ticket. If you submit a ticket the response time is 7 days.
Another thing to consider is that eToro’s customer service team responsiveness and overall customer experience depends on your club tier as well. Logically the higher the tier the better support you receive. One of the perks that can improve the quality and speed at which you resolve your queries is a dedicated Account Manager (AM). You may benefit from a dedicated AM from a Gold tier onward. Below you can see the different tiers and the benefits coming along with each.
eToro’s Customer Service Availability
eToro’s Customer Service team is available for all club tiers 24/5. This means you can reach eToro’s customer support team from Monday to Friday at any hour in the day. On top of that, you can communicate with them in 21 languages. This applies to both chat and ticket system. However, there is no information on eToro’s website about a direct phone line with their customer service team. Below we have summarized the pros and cons of eToro’s customer service based on our investigation.
|Chat & Ticketing system||No voice support|
|Fast chat response time||No support during the weekend|
|Customer service available in 21 languages||Chat tends to be often offline|
|Option for a dedicated Account Manager||7 days response for tickets|
|Responsive and collaborative customer service||Unable to solve all your issues at one go|
Negative eToro reviews about the Customer Support team
We went even further and analyzed what other customers said in their reviews on multiple platforms about eToro’s customer support team. Before checking the results of our investigation, bear in mind some of the reviews were not objective and don’t represent the real situation. That’s why’d advise you to take these into consideration with a reserve.
On this popular customer reviews website, eToro has more than 2300 reviews. The average score is 2.1 (out of 5) stars. But after checking the reviews there was only a handful criticizing the eToro customer service team. Most often the eToro’s customer support team was criticized due to its inability to resolve matters right away.
A surprising fact was that eToro’s customer service team was present even on TrustPilot. On TrustPilot’s website, the customer support team was responding to complaints by requesting additional information so they can investigate each claim carefully. In more than one case they politely addressed the complaint and explained why a specific issue has arisen.
Better Business Bureau (BBB)
The Better Business Bureau is a non-profit organization whose vision is an ideal market place founded on trust. In addition, the ideal market should be self-regulated by the ethical behavior from both sellers and buyers. BBB’s team awarded a B+ to eToro overall (A being the highest rank). On their website, there were only two reviews when we investigated. To our surprise, both were responded by eToro’s customer service team and they were apologizing for the delayed responses.
Broker Chooser – review by Gergely Korpos (Co-founder / CPO)
Contrary to Trustpilot and BBB who are not specialized in trading, Broker Chooser is an independent company evaluating and analyzing online brokers. When they reviewed eToro’s customer service they gave it a score of 3.5 out of 5.
To summarize it’s evident eToro’s customer service team is responsive and responsible. They were present on other platforms ensuring their customers are adequately cared for. This is what is usually called going the extra mile! However, they are unable to resolve all issues. Some were caused by a loss of profit or delayed payment withdrawal that is outside of the customer support’s team control.
If you’re using a browser to access eToro you need to follow these steps.
Submitting a ticket on eToro’s website
- Head to eToro’s website at https://www.etoro.com/. On the top right corner move your cursor over the Company subsection (see image below). A drop-down menu will automatically appear and from there select the Help Center.
2. Once you enter the Help Center you’ll find yourself with 3 options (see the image below to get a visual understanding of the page layout). First, we’d advise you to check the Frequently Asked Questions (red arrow pointing at that section) since some answers can be found there.
Here you can find answers to your questions such as:
- Is eToro safe
- Details about eToro fees and
- How to withdraw money from eToro
This will also save you time and allow you to tackle most issues on your own. Secondly, you can click on the Customer Service (red rectangle) or directly approach the third option by clicking on the Complaints Procedure (blue rectangle). To proceed further click on the Complaint Procedure and this will lead you to the Customer Service Center.
3. You’ll be required to log in (unless you already were) into your eToro account. After logging in into your eToro account you’ll get to another page also called Customer Service Center (see below). However, you’ll have multiple options here such as:
- Get in touch via the chat with eToro’s customer service team (1 and 5)
- Return back to the Help Center (2 and 3)
- Return to FAQ page, which is actually the Help Center (2 and 3)
- Submit a ticket (4 and 6)
This could seem like a never-ending loop unless you pay attention.
The final verdict: Is eToro’s Customer Service Good or Bad
eToro’s customer service team has shown reliability and amazing outreach. eToro’s customer support team is responding to queries submitted directly on their website through their two channels. In addition, the eToro customer service team is actively visiting third-party websites and providing support there as well. Unfortunately, they are unable to resolve all issues and undo the bad decisions of some traders. But that doesn’t make them bad. With a live chat and relatively fast (7 days) turnaround to tickets, it seems eToro’s customer service team is trying to be available for their customers as much as they can.
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eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorized and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity-specific information about eToro.
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