DRN-6202353

The complaint Mr C complains eToro (UK) Limited (‘eToro’) didn’t return the full amount of his funds to him after he requested withdrawal. What happened Mr C had a trading account with eToro. eToro wrote to Mr C that it would be closing his account. Mr C says he closed his trading positions and requested the withdrawal of his funds. The withdrawal request was made in March 2025. Later that month eToro made a number of transfers to Mr C and closed his account. Mr C complained to eToro that it hadn’t returned all of his money. eToro said it had returned the funds in multiple transactions to the sources from which they’d been sent. It gave Mr C a list of nine transfers it said it had made to him. Mr C provided a list of five transfers which he said he’d received and he asked eToro to pay him the remaining funds. eToro maintained that it had made all of the payments in full. Mr C referred his complaint to this service. He said eToro hadn’t paid out all of his money and he wanted the missing funds returned to him. He said there was a shortfall of USD 1,306.38 because eToro had paid him USD 11,310.69, but it should’ve given him USD 12,617.07. He provided bank statements for the accounts to which eToro made transfers. He said he’d received five transfers from eToro. One of our investigators looked into Mr C’s complaint. He didn’t think eToro had done anything wrong. He said Mr C’s analysis of what he’d been paid by eToro had omitted two of the transfers eToro had made which appeared on one of Mr C’s bank statements. Together those transactions totalled USD 1,268.69. There remained a small discrepancy of USD 37.69 between what Mr C said he’d received and what he said he ought to have received. The investigator didn’t know the reason for that but he thought eToro had paid Mr C all the withdrawals he’d requested and he didn’t see that eToro had treated Mr C unfairly. The information cited by the investigator also showed that, for one transaction which involved a currency conversion, Mr C cited a different exchange rate from the one eToro used. Mr C didn’t accept the investigator’s view. He said he’d provide a letter from his bank as further evidence. He subsequently said he’d provided all the information necessary and he would await an ombudsman’s decision. Because no agreement could be reached, the complaint was passed to me to review afresh and make a decision. What I’ve decided – and why I’ve considered all the available evidence and arguments to decide what’s fair and reasonable in the circumstances of this complaint. Having done so, I’m not upholding the complaint. I’ll explain why.

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The purpose of this decision is to set out my findings on what’s fair and reasonable, and explain my reasons for reaching those findings, not to offer a point-by-point response to every submission made by the parties to the complaint. And so, while I’ve considered all the submissions by both parties, I’ve focussed here on the points I believe to be key to my decision on what’s fair and reasonable in the circumstances. Having looked at all of the evidence, including Mr C’s bank statements, I find that eToro processed withdrawals for all of the amounts Mr C said he deposited to eToro. Like this investigator on this case, I’ve found that Mr C’s analysis of what he received from eToro omitted two transfers he received from eToro. So in fact eToro transferred more to Mr C than he said it did. And that largely accounts for discrepancy Mr C complained about. I note also that for the transaction that involved a currency conversion Mr C’s analysis used a different exchange rate from the rate eToro used when it made the transfer. eToro said that transaction amounted to a return of USD 2120.38 based on an exchange rate of 1.0917 and the net amount was EUR 1,942.20. In total the evidence shows eToro processed withdrawals for a total of USD 12,617.07 which was the amount Mr C said was in his account when he requested withdrawal, and which was the balance showing in his eToro statement at the time he requested withdrawal. When comparing that total to the total amount Mr C received from eToro the only discrepancy I see is that for the transfer that involved a currency conversion Mr C received EUR 1,930.20 rather than EUR 1942.20. However, noting that his eToro statement showed Mr C was liable for a withdrawal conversion fee of USD 29.13 I’m not persuaded eToro has caused him any financial loss that needs to be put right. Overall I find on balance that eToro has acted fairly and reasonably here. I think Mr C can be satisfied there aren’t any amounts that eToro didn’t return to him. And I don’t find on balance that the small discrepancy in one amount gives me cause to uphold Mr C’s complaint. My final decision For the reasons I’ve set out above, my final decision is that I don’t uphold this complaint. Under the rules of the Financial Ombudsman Service, I’m required to ask Mr C to accept or reject my decision before 22 May 2026. Lucinda Puls Ombudsman

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