Important: Read This Post Before You fund/Open An eToro Trading Account - Update

In my previous blog post, I mentioned that I opened an eToro trading account to buy XRP. I also said funds could be deposit using Paypal. However, before doing any sort of funding, pls ensure the account name that you use to do funding from is the same as the eToro account. I am using my Alias for Paypal account name whereas eToro account uses my Chinese name. This results in verification issue for my eToro account even though the funding went through! And they didn't contact me about it. My account verification status still shows pending a few days after I had submitted the necessary documents and I contacted them.

Dealing with their customer service is another challenge. I couldn't find a support email. I went to their facebook page and message their support team. I was given a link to their live chat. When I enter the live chat, I was put on a waiting queue. I have to stay on the page to wait for my turn. If I closed the page, I would need to queue again! There were 11 persons in front of me. I actually clicked on another link and I had to queue a second time. There were 10 persons in front for my second queue.

My account verification issue hasn't been resolved. The live support says will contact their accounts dept and get back to me. I could see a lot of complaints on their facebook page. I was actually quite interested in their trade copy service before my account opening issue. However, I am now thinking twice about depositing more funds. I couldn't even find a proper link to open a support ticket. Can't imagine what kind of issues I would face if I want to withdraw my funds. 😞

14/12/2017 Update - Seems like eToro Customer Service is having issues coping with the surge in new clients. Below screenshots are taken from their website. Basically, can forget about opening an account if your deposit is less than $500 now.

Minimum first-time deposit amount has been raised to $500!!!