Update 12/4/22: Offer appears to have expired
Update 12/1/22: A lot of people have successfully gotten the $240 from eToro. Some people got their $50 Rakuten while others had issues (the Rakuten part isn’t showing anymore). No one has yet to have any success getting their portal cashback from Gocashback (offer is still showing there).
Update 11/4/22: reposting as I’ve added a few notes to the post
The Offer
Direct Link to offer | Terms (pdf) (be sure to click through the shopping portal before actually signing up)
- eToro brokerage is offering a bonus of $240 when you sign up and deposit $2,000. Deposited funds remain in your Account for a minimum of 90 days following the date of deposit.
- There’s also a portal bonus of
$50/5,000 from Rakuten or$120 from Gocashback. The Rakuten bonus requires $100 in trades, the Gocashback bonus has a stated requirement of just your ‘first trade’.
The portal links directly to the bonus page so there shouldn’t be any issue stacking the two. It’s been confirmed by a reader as well. The portal bonus can interesting on its own as well. eToro is member SIPC.
The Fine Print
- Not eligible if you already have an eToro account or if you closed one in the last 30 business days
- The pdf (linked above) shows a promotion budget of $100,000
Our Verdict
Most of the prior eToro bonuses involved crypto, yet with both the deposit bonus and portal bonus can be done with cash or investments. It’s also not a bad bonus for depositing $2,000 and making a trade (some easy trade ideas here).
The fine print shows a promotion budget of $100,000. Hopefully they’ll pull the offer page before stopping to honor the promotion, but there is some risk here. The $120 bonus could be interesting to a lot of people, even without the other bonus. And the Gocashback version just has a stated requirement of a single trade.
You can find the Gocashback offer for eToro here. (This contains my referral link to Gocashback, we’ll each get $5 if you signup using my referral link. My referral code is HY7QVF which you can enter at signup as well.) You can alternatively use Rakuten for $50/5,000. Both portals should work fine in conjunction with the bonus offer. I don’t have any experience with the Gocashback portal, but it’s been around at least a few years, based on some poking around the internet. Given it’s a major bump from the Rakuten rate (at least on a strict cashback basis), some people might give them a chance over the established Rakuten.
Hat tip to reader thefirstrule
Unavailable:
American Samoa, Guam, Hawaii, Minnesota, Nevada, New York, Northern Marianas, Puerto Rico, U.S. Armed Forces – Americas, U.S. Armed Forces – Europe and US Virgin Islands
thats super lame, but part of the game :/
Those are some random ass states.
you’re missing a bunch, they’re only licensed in about 25 states
https://www.etoro.com/en-us/customer-service/state-disclosures/
Has any one got cashback or at least update about the missing cashback from GoCashback?
Hi mothman69,
We know that you waited that long for this to be available. All of the ETORO orders are having delays for the same order claim you have submitted, we apologize for this inconvenience, our team are doing their best to get in touch with ETORO for this to be resolved.
Escalation ticket was submitted and we are hoping that ETORO responded to this. Again we apologize for the inconvenience this may have caused to you.
Best Regards,
GoCashBack
They gave me this exact same message, then ultimately rejected my claim today. Scam.
They finally rejected my 100% valid claim after like 10 months of waiting, and no one there speaks English well enough to explain why. Avoid GoCashback, they’re complete bullshit.
I got this response. I’ll never use GoCashBack.
We are saddened to inform you that we already got feedback from our back office and escalation team about this matter. ETORO is not cooperating with us in regards to this matter, we never got any response from them and no paid cashback paid for the order that are qualified for cashback,
GoCashback only gets commission out from each order that will be made and we will not cover up the cashback amount for this transaction. ETORO was already removed in our system and no longer has connections with them.
Best Regards,
GoCashBack
Well, thanks for providing a final update. They don’t even respond to my messages anymore.
bonus for p2 was not credited.
fck:
”
6.9. Eligibility to participate in the Promotion is limited to one account per
person/household or environment in which computers are shared. Users
participating who have more than one trading account will be eligible for one
Reward only. Users opening or operating multiple accounts to benefit from the
Promotion will not be entitled to receive any benefit under the Promotion. For
the purpose hereof, eToro may determine, in its sole discretion, that several
accounts maintained under the same household/control/ownership shall be
considered as a single account.
“
Who is the regulatory body of eToro where we can file a complaint?
Has anyone been able to collect the 120 from gocashback. I haven’t received it and here is what they said when I asked ( I did get the 240 from etoro)
All promotions that will be posted on the website are at the merchants discretion, they can remove or change the promotion without any prior notice.
Currently no promotion is implied from ETORO, if you are planning to use our website to make a trade using our order portal. Please check our website from time to time to see upcoming promotions that merchant will give to our users.
Best Regards,
GoCashBack
This is the last messaged I received from them after the 90 day review window expired:
Thank you for reaching us again.
Your claim has the same status pending and waiting to be reviewed. We are so sorry again if this was taking a ot of your time but we only wait for them to send us the data needed and the cashback amount that you have earned should be paid and done by them.
Best Regards,
GoCashBack
Still no bonus.
No. It took a long time for me to figure out how to submit a missing cash back claim that would not be instantly rejected as “invalid” – eventually I found out how to locate the trade confirmation and used a screenshot and the order # from that document. That finally got me past the instant rejection, but it’s been in “reviewing” status for about 100 days now.
At first GCB customer service said “it may take up to 60-90 days” and when I pointed out that it had been over 90 days since the trade, they said “well, allow 90 days from when your missing cash back claim was submitted”. So I did. I emailed them again, and they just said “oh, sometimes it takes more than 90 days. We’ll ask eToro about it”.
I haven’t seen a single DP of anyone getting their cash from GCB. Not to mention, other cash back that was tracked automatically has not paid out either.
I’ll never use them again. At this point my ROI on the time spent trying to get the payout, if they pay today, is too low a wage to be worth my time.
Did anyone get a $5 bonus for eToro Options instead of $50?
I got both $5 and $50.
I got the eToro option $500 deposit, $50 bonus email a few months ago and opened the eToro option account and deposited $500 in January. I haven’t got the $50 bonus yet. Anyone else?
Thanks! I submitted a ticket as you suggested, and received the $50 bonus today.
I also received the $50 bonus today and processed a withdraw of $550 to my bank!
Regarding the wire transfer. I noticed anything above $1,701 automatically withdrawals to wire. If you do $1,700 or less, it will go back to your debit card.
Are there any banks that DO NOT charge an incoming wire transfer fee? Seems based on DP many banks charge $10 or $15.
Edit: Looks like Schwab is free for incoming wire transfers: https://www.schwab.com/legal/schwab-pricing-guide-for-individual-investors
Co360 no fee for incoming wire unless it happens to be on a bank holiday then goes through some intermediary bank and fee is charged. This is all based on personal experience.
Marcus Savings does not charge for incoming or outgoing wires. However, I do not believe they are accepting new customers at this time.
Discover is free for receiving domestic wires or for receiving international wires in U.S. dollars: https://www.discover.com/online-banking/faq/
eToro does not issue 1099s for less than $600.
newguy
“Thanks for reaching out regarding your 2022 tax documents….. Additionally, we can see that you did not receive income up to $600 for the 1099 Misc Form.”
Did anyone receive any 1099 Tax form for this $240 bonus? I did not receive any yet.
I received my tax form but don’t see 240$ bonus listed in 1099-INT. Not sure whether i have to manually add it in my tax filling and if so should it be under 1099-INT or 1099-MISC. Any tax experts?
Received email notification for P1 and P2 that tax statements are available but there are no documents in the Tax Documents area. Only completed 1 or 2 trades short-term until bonus was paid. Sent a message to help center to inquire.