Exclusive: eToro experiencing tech problems with customer login and deposits
FNG Exclusive… FNG has learned that Retail FX, CFDs, and crypto broker eToro has seen a number of technology problems today with its customer platform.
Soon after 12:00 noon GMT the company reported to clients that the deposit function was unavailable on the eToro platform. The company said that its teams were working to resolve this as quickly as possible, and the company apologized for the inconvenience caused.
Less than 30 minutes later eToro noted that some of its users were experiencing intermittent login issues. The company tweeted that its IT team was working to resolve the issue ASAP, and indeed after less than 10 minutes the company posted that the issue was resolved.
However the deposit issue persisted for more than two and a half hours, until about 2:40pm GMT, when the company tweeted again that the deposit issue was also resolved.
Separately, eToro noted that it had changed back its minimum deposit for new users to $200. We reported exclusively back on January 10 that eToro had upped the min deposit for new clients to $1,000, to stem the flow of crypto traders who were migrating to the company and opening new accounts in the tens-of-thousands per day. With that flood of traffic, as well as (apparently) most new traders looking to go long Bitcoin, the company was having trouble keeping up administratively as well as being able to properly risk manage and hedge the overall aggregate client position in Bitcoin and other cryptos.