Thread: Scammed by Etoro, what shall I do?

I was doing some quick trading the other day. I opened a buy position and next time I check my screen my position has been closed by Etoro. Here is a screenshot http://i.imgur.com/bKREk.gif Green arrow indicates where I opened and red line indicates where it's been closed by Etoro. The only problem is that 1) Market never went anywhere near that line 2) Even if it did go that low my stop loss would have kicked and finally 3) I lost more money than I had invested. Now I have a negative balance :S
I went ahead and contacted them right away and received a quick response:

Dear customer,
First of all we do appreciate your business, however according to our records your position hit it's stop loss. Please explain why you think this is incorrect so we can look in to this matter. thank You.

I could not even tell who I was speaking to. They did not bother adding their name. Anyhow, I reply with the screen shot further explaining my situation. A few days go past and I receive an email telling me that they are still looking into this. A few more days go past and still nothing. I get in touch with my account manager and he gets back to me instantly telling me he is more than happy to take a look. The second I send him the screenshots he goes quite for two days and counting. I write my story up on Etoro forums but it gets censored and never gets approved by the moderator.

What shall I do now? Did anyone else have to deal with them before? My most recent deposit has been made using PayPal so I can try and do a claim but knowing PayPal they won't do anything when it comes to intangible goods.

Just to add to frustration, the other week they froze my golden account and asked me to send them copies of my passport and credit cards used to make the deposit. Standard practice, however I've already done this for them in the past. I did not think it was a big deal so I sent them an email asking about their privacy policy when it comes to personal documents because I was concerned they've lost my previous photocopies somehow. A few days later I login and find my account is active again. But I have not had any reply regarding privacy policy. This is a terrible business practise.

Thank you!

Please close this thread. The issue has been resolved eventually and I've been compensated for lost trades.

Thats a great news. I know etoro is reliable, processing takes time for some rebates and complaints but I know they are doing their best to solve the problem.