Not upheld: incomplete fund withdrawal / missing funds claim complaint against eToro (UK) Limited

Decision detail

Summary

Mr C complained that eToro failed to return all his funds after he requested withdrawal from his trading account in March 2025. He claimed a shortfall of USD 1,306.38, stating he received USD 11,310.69 instead of the expected USD 12,617.07. Upon investigation, the ombudsman found that Mr C's analysis was incomplete, as he had omitted two transfers totalling USD 1,268.69 from his calculations and used a different exchange rate for a currency conversion transaction than eToro had applied. The evidence showed eToro had processed withdrawals for the full amount Mr C had in his account, and the small remaining discrepancy was attributable to a disclosed withdrawal conversion fee. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that eToro processed withdrawals for the full amount Mr C had deposited (USD 12,617.07). Mr C's complaint was based on incomplete analysis of the transfers he received - he had omitted two transfers totalling USD 1,268.69 from his calculations. Additionally, for the currency conversion transaction, Mr C used a different exchange rate than eToro, and the small remaining discrepancy (EUR 12 difference) was attributable to the withdrawal conversion fee of USD 29.13 that was disclosed in eToro's statement. Therefore, eToro had acted fairly and reasonably in returning all funds.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website