By: John Hill2021-05-24
eToro reported technical difficulties arising from an outage that started on Tuesday, February 23. Since then, all of their trading platforms have been inaccessible for their 14 million clients globally for a timeframe of more than 17 hours.
The technical glitches happened while global equities are tumbling and prices of the world’s biggest cryptocurrencies Bitcoin and Ethereum have dramatically plunged after reaching new highs over the past few days.
As of this writing, their platforms have resumed normal operations and clients are now able to access their trading accounts.
The glitch is now under the Past Incidents section of their Status Page.
They advised users that their Offline Trader Tool (https://offlinemode.etoro.com) remains to be accessible so they can monitor all of their open positions and be able to close them if they wish to.
This tool serves as an alternative access for traders in the event that such outages happen and they want to open or close positions on the platform.
The company released an announcement via their official social media accounts on Facebook and Twitter that there has been no data breach and that these outages were due to a Microsoft database technical issue which resulted into placing their platform into maintenance mode.
They added that they have been working with Microsoft’s senior engineers to fix this issue and that they are “continuing to invest heavily” with their systems. The company has apologized for the service disruptions.
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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.