With so many platforms available nowadays, people are very quick to point fingers and yell forex scam at the slightest agitation. In fact this is a case of the boy who cried forex scam, since these traders are so quick to undermine any platform and to see forex fraud everywhere, that when they actually discover a forex scam nobody believes them.

First and foremost, it's important to point out that eToro is not a forex scam in the slightest. If you look at the eToro site and at the site of their operating broker you can see that both are reputable companies properly licensed by authorities who take it upon themselves to regulate and prevent forex fraud. Most of the eToro scam allegations stem from a simple lack of understanding the basic eToro terms and conditions. For instance, it is absolutely standard for legitimate forex providers to demand identification upon withdrawal, and does not in any way make the forex provider into a forex scam artist.

Moreover, eToro has now become the most popular forex site online, according to recent Alexa stats. There is no way for a company that runs forex scams to become that popular without causing multiple complaints and law suits and getting itself shut down by the authorities.

Let us now go over the more recurrent eToro scam claims and see how they are all completely baseless.

• eToro is a scam because their charts and signals are wrong it is possible that eToro's charts and signals aren't updating on your platform due to a bad or slow internet connection. In this case it is certainly wrong to accuse eToro of being a forex scam, since any forex platform depends on a decent internet connection for updates of forex price rates.
• eToro is a scam because their employees infiltrate eToro's chats and give out false forex tips eToro's employees may indeed be in the chats, encouraging other traders to engage in conversation. However, they are strictly forbidden to give out any forex advice since they are mostly support personnel and have no professional financial training. These actions on behalf of the eToro support personnel don't constitute any sort of forex scamming. The only people that may be giving out forex advice in the eToro chats and forums are other eToro traders, whom eToro is certainly not responsible for.
• eToro is a scam because they make it too easy for traders to deposit eToro does accept many methods of deposit which the traders can use to fund their account. No one in their right mind would really consider this to be a forex scam, it is simply a means to better the company's service to the client, so that if they want to fund their real trading account they are able to do it through the method of their choice.
• eToro is a scam because they have restrictions on withdrawals the only restrictions eToro have on the withdrawal is that they the trader to fill out a withdrawal request and attach some id verification documents. This is done not to scam people out of their money, but to protect the company and the clients themselves from credit card fraud and identity fraud. In the forex world, where fiscal transactions are made by the thousands a day, one can never be too careful about such types of fraud as they are abundant and are heavily fined by the processing companies. It is not forex fraud, but a standard procedure in the forex trading industry to demand identity proof with each and every withdrawal.
• eToro is a scam because it belongs to a gambling company this eToro scam accusation is simply a fiction with no basis in reality. eToro is the product of a licensed software development company, and is operated by licensed international forex brokers. It has absolutely no connections to the world of online or offline gaming, and certainly doesn't belong to any

Those among the forex community who spread such forex fraud allegations without any basis except an unreasonable personal grudge, only ruin the online forex trading world for those who are nanve enough to take them to heart. I hope that those who read these lines take care to investigateá the claims made by others by doing further research on the subject, or at least getting a second opinion from other forex traders and bloggers. It is a shame that the wonderful freedom that the internet provides also gives rise to such uncontrolled slander.

We do advise you to take the time to read more about forex scams and how to recognize a real forex scam when you see one.