Wikilix
Contract reading

What ETO Markets legally published, but does not want you to read

Every clause below is published by ETO Markets itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: ETO Markets Limited

marketing contradictionsole discretionprofit voidingcounterpartydeemed acceptanceevent of defaultmarkuppammpromotionabusive trading

ETO Markets can void your winning trades and enforce your losing ones if it believes you manipulated prices.
Its definition of manipulation includes hedging and excessive leverage, both sold on its website.
The site also promises negative balance protection, no dealing desk and instant withdrawals, and the contract takes back all three.
You get 24 hours to dispute a trade, and your contract, with a Seychelles company, never mentions the ASIC licence the site leads with.

Back to ETO Markets

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
8
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
15

How the 18 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical5
Warning10
Notice3

section 8 of 29is where the deepest clause sits, 28% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical30 daysProfit at risk. Jump to the clause this comes from.ETO Markets can void winning trades and enforce losing onesCritical20%In the contract. Jump to the clause this comes from.Negative balance protection is advertised but absent from the contractCritical3 working daysTime to complain. Jump to the clause this comes from.24 hours to dispute a trade, then silence means agreement$3.8Bonus requirement. Jump to the clause this comes from.A USD 1,000 lucky draw ticket can pay USD 3.80

What the documents say

18 clauses worth knowing about, worst first, each quoted from ETO Markets's own files

01

If ETO Markets believes you manipulated its prices or platform, it can cancel your winning trades and still hold you to your losing ones. Clause 9.7 lets it act without notice, withhold the money and close your account.

Why this matters

ETO Markets only has to believe it. You then get 30 days to prove with conclusive evidence that you broke no rule, and its list of manipulation includes hedging and excessive leverage.

Exhibit 1CriticalHarder than usual30 days

If we believe that you have manipulated our prices, our execution processes or our Trading Platform, we may in our sole and absolute discretion, without notice to you:
Clause 9.7 in Client Agreement, Margin FX and Contracts for Difference, p.25
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 4A manipulation claim lets ETO Markets void your profits and then hold back the rest of your balance while the dispute it declared stays unresolved.
  • Worse together with Exhibit 6You must disprove manipulation with conclusive evidence within 30 days, while clause 8.2 makes ETO Markets' own computer records the conclusive version of events.
02

ETO Markets' account comparison promises negative balance protection on every account, meaning you can never lose more than you deposited. The Client Agreement contains no such protection and turns any shortfall into a debt you owe, with interest at 20% a year if unpaid.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A sharp market move can leave you owing ETO Markets money on top of losing your deposit. ETO Markets can take that debt from any other account you hold, and unpaid sums compound daily.

Exhibit 2CriticalHarder than usual20%

If your total exposure on margin trades exceeds your deposit, you risk losing more than your deposit.
Quoted in Risk Disclosure Statement, p.2
Read from the broker's site on Archived copyOpen the reference

What it costsA $1,000 debt left unpaid for a year at 20% compounded daily grows to more than $1,220.

Set against a regulated standard: ASIC (Australia), ESMA (EU)

Firms licensed by ASIC, and EU firms under ESMA's rules for contracts for difference, must give retail clients negative balance protection. Losses stop at the money in the account. This contract lets ETO Markets collect losses beyond your balance, with interest.

ETO Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

03

ETO Markets advertises hedging, very high leverage and PAMM accounts, where a single manager trades for many investors. Clause 9.7 calls hedging, excessive leverage and a trader working several accounts at the same time manipulation, which lets ETO Markets void your profits.

Why this matters

If you use the features the site sells, you hand ETO Markets the grounds to cancel your winning trades. The decision is ETO Markets' alone, and your losing trades still stand.

Exhibit 3CriticalHarder than usual

(ii) different accounts being traded by one trader simultaneously; (iii) internal/external hedging; (iv) use of fake ID; (v) trading patterns such as risking all the trading equity in large, one direction trades; (vi) use of excessive leverage;
Clause 9.7 in Client Agreement, Margin FX and Contracts for Difference, p.25
Read from the broker's site on Archived copyOpen the reference
  • Same clause as Exhibit 1Both rest on clause 9.7: one shows what it lets ETO Markets do, the other shows the website inviting the very conduct it punishes.
04

ETO Markets advertises instant withdrawals. Clause 17.4 lets it hold back money from your balance if an overnight position shows a loss. It can also hold money while it says a dispute is unresolved, or if you might owe it on another account.

Why this matters

ETO Markets decides when a dispute exists and when it ends, and the contract sets no time limit on the hold. A manipulation claim under clause 9.7 also lets it withhold the money directly.

Exhibit 4CriticalHarder than usual

When your Account is in credit, you may request that we effect payment by alternative means of the amount in credit of such amount as you may specify. But, we may at our discretion withhold from the amount of the credit balance if:
Clause 17.4 in Client Agreement, Margin FX and Contracts for Difference, p.37
Read from the broker's site on Archived copyOpen the reference
Our own capture of eto.group, taken on Oct 22, 2026The claim, on ETO CopyTrading page, feature headed Fast & Flexible PaymentsVisit this page on the broker's siteDownload the full size image file
05

You have 24 hours to object to a trade confirmation and 3 business days to object to an account statement. If you stay silent, ETO Markets treats its records as accepted and conclusive. The clock starts when ETO Markets posts the document, not when you read it.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

Miss the window and ETO Markets' version of a trade becomes the one that counts. Where your records differ, clause 8.2 says its computer records prevail as conclusive evidence.

Exhibit 6CriticalHarder than usual3 working days

If the Confirmation does not appear on the Trading Platform within two (2) minutes you must contact us immediately. If you do not do so within twenty-four (24) hours, what we have recorded in relation to the Contract will be deemed to have been accepted by you.
Clause 6.6(a) in Client Agreement, Margin FX and Contracts for Difference, p.20
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
After 2 minutesIf no confirmation appears, you must contact ETO Markets immediately.6.6(a)
After 24 hoursIf you have not raised it, ETO Markets' record of the trade counts as accepted by you.6.6(a)
After 3 Business DaysAn account statement becomes conclusive unless you objected in writing.6.6(f)
06

ETO Markets' About page says your money sits at National Australia Bank, fully separated from company capital. The contract names no bank, lets ETO Markets invest your money in investments it does not define, and lets it keep the earnings.

Why this matters

ETO Markets pools your deposit with other clients' money at an unnamed bank and accepts no liability if that bank fails. If an investment loses value, ETO Markets must top up the account, except for amounts paid out to itself or its associates.

Exhibit 5WarningHarder than usual

All money paid to us by you or a person acting on your behalf, or which is received by us on behalf of you, will be held by us in one or more segregated accounts with an institution within or outside Seychelles.
Clause 23.1 in Client Agreement, Margin FX and Contracts for Difference, p.43
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: ASIC (Australia)

Firms licensed by ASIC must hold retail client money in a trust account with an approved bank, may invest it only in the narrow range of investments the law allows, and may not use it for their own hedging. This contract sets no limit on how ETO Markets may invest your money.

ETO Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 10You earn no interest on your balance under clause 6.2, while clause 23.3 lets ETO Markets keep whatever your money earns when it invests it.

The website promises protections the contract takes back

ETO Markets' website offers negative balance protection, client money fully separated at NAB, and hedging with 1:1000 leverage. Its Client Agreement makes you liable beyond your balance, lets ETO Markets invest client money, and calls hedging and excessive leverage manipulation. Even its Southeast Asian lucky draw pages link terms that exclude Southeast Asia.

Promise versus contract1 clause flagged

ETO Markets advertises its lucky draw to you in Thai, Vietnamese and Indonesian, then links global terms that exclude clients in Southeast Asia. A separate Southeast Asia version on its website excludes residents of Thailand.

Why this matters

If you live in Thailand, no version of the terms we found includes you, even though the page invites you in Thai. ETO Markets keeps the final interpretation of the promotion.

Exhibit 8Warning

This promotion is available to eligible new and existing clients worldwide, excluding clients from Southeast Asia (SEA) where separate promotional terms apply.
Clause General Terms and Conditions, 1 in 13th Anniversary Lucky Draw Terms and Conditions, p.4
Read from the broker's site on Open the reference

What it costsThe global terms ask for USD 1,000 of net deposit per ticket and the Southeast Asia terms ask for USD 500. With 2 lots traded, the same USD 1,000 earns 1 ticket under the first and 2 under the second.

ETO Markets builds its charges into the price you see

ETO Markets' Client Agreement says the prices on your trade confirmations include its charges, which it may not show separately. It adds its own markup to prices and exchange rates and keeps all interest earned on your balance. Every intermediary bank's charge on a transfer falls on you.

Cost disclosure1 clause flagged

ETO Markets says the prices on your trade confirmations already include its charges, which it may not show separately. It also adds its own markup to prices and exchange rates, and keeps all the interest earned on your balance.

Why this matters

You cannot see what each trade really cost you, so you cannot compare ETO Markets with another broker on price. Every bank that routes your withdrawal can also take a fee from it, at your expense.

Exhibit 10WarningStandard wording

The prices quoted in the Confirmation will be net of any charges (excluding Commissions), which may not be separately identified.
Clause 6.6(a) in Client Agreement, Margin FX and Contracts for Difference, p.20
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell retail clients all costs and charges before they trade, including costs built into the price, and send a statement of what they paid at least once a year. This contract says charges inside quoted prices may not be separately identified.

ETO Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

ETO Markets' prizes depend on money you must leave in

A lucky draw ticket at ETO Markets needs a USD 1,000 net deposit and 1 lot traded. The smallest prize in the terms is USD 3.80. Both current promotions let ETO Markets review or end your eligibility if you withdraw, and leave the final interpretation to ETO Markets.

Promotion terms1 clause flagged

Each lucky draw ticket costs you a USD 1,000 net deposit and 1 lot traded. The smallest prize in the terms is USD 3.80. The page advertises the Apple bundle and the USD 30,000 prize pool instead.

Why this matters

If you withdraw before the draw, ETO Markets can review whether you still qualify, so the promotion keeps your money in. The gold contest works the same way: you must keep your net deposit to stay eligible.

Exhibit 9WarningStandard wording$3.8

Cash Rewards USD 3.80 – USD 188
Quoted in 13th Anniversary Lucky Draw Terms and Conditions, p.3
Read from the broker's site on Open the reference

What it costsA USD 1,000 net deposit that earns a ticket can return a USD 3.80 prize, which is 0.38% of the deposit.

Set against a regulated standard: ASIC (Australia), ESMA (EU)

ASIC's rules for contracts for difference and ESMA's CFD restrictions bar firms from offering retail clients gifts, bonuses or other benefits to encourage CFD trading. ETO Markets ties gold bars, phones and cash prizes to deposits and lots traded.

ETO Markets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 1The gold contest ranks you by gold lots traded, while clause 9.7 treats large one-direction trades and excessive leverage as manipulation.

ETO Markets can rewrite the contract and declare a default on its own view

ETO Markets can change its Client Agreement by posting a notice online, and you have 14 days to object before the new terms bind you. Its defaults include abnormal trading conditions and anything it considers necessary to protect its rights, and a default lets it close your positions.

Account control2 clauses flagged

ETO Markets can treat your account as in default whenever it considers trading conditions abnormal, or considers action necessary to protect its rights. Default lets it close your positions, end the agreement and keep money it owes you against debts that may never arise.

Why this matters

ETO Markets can call you in breach because of a volatile market, not anything you did. ETO Markets can also freeze new trading pending an investigation for any reason, though it aims to finish within five business days.

Exhibit 12WarningHarder than usual5 working days

we consider that there are abnormal trading conditions;
Clause 15.1(j) in Client Agreement, Margin FX and Contracts for Difference, p.33
Read from the broker's site on Archived copyOpen the reference

ETO Markets can change the agreement at any time and post the new version on its website. A notice posted there counts as received the moment it appears, and you have 14 days to object.

Why this matters

If you miss the 14 days, the new terms bind you, including on trades already open. If you object, ETO Markets can require you to close your account.

Exhibit 13NoticeStandard wording14 days

You agree that we may amend, change, revise, add or modify the Agreements at any time. The most current Agreements will be posted to our Website and/or via the Trading Platform.
Clause 1.1 in Client Agreement, Margin FX and Contracts for Difference, p.10
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Change postedA notice on the website or platform counts as received the moment it is posted.36.3(f)
Day 14If you have not objected, ETO Markets treats you as accepting the changes.18.3
If you objectETO Markets can require you to close your account or restrict your trading.18.3
Effective dateThe changes apply to open positions and unexecuted orders as well.18.4

You must go to Seychelles, while ETO Markets can sue you anywhere

ETO Markets' Client Agreement requires you to bring every dispute in Seychelles, under Seychelles law. It twice reserves ETO Markets' right to sue you in any other country. Unresolved complaints can go to the Seychelles FSA, but the complaints process is unpublished and clause 27.3 cites an arbitration clause that does not exist.

Forum1 clause flagged

You must bring any dispute in Seychelles, under Seychelles law, while ETO Markets keeps the right to sue you in any country. If ETO Markets does not resolve your complaint, you can refer it to the Seychelles FSA.

Why this matters

Pursuing ETO Markets means dealing with a court or regulator in Seychelles. The complaints process is unpublished, and clause 27.3 cites an arbitration clause, 27.20, that the agreement does not contain.

Exhibit 11WarningHarder than usual

Any dispute or difference in connection with this Client Agreement must be dealt with by you in Seychelles.
Clause 27.2 in Client Agreement, Margin FX and Contracts for Difference, p.50
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must publish a complaints procedure and give eligible clients free access to the Financial Ombudsman Service. This contract publishes no procedure and sends unresolved complaints to the Seychelles FSA.

ETO Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Ten days to supply documents, and your data can go to marketers

ETO Markets can suspend your account if you do not supply requested information within 10 days, and the delay counts as a default. Its privacy policy separately lets it pass your personal information to third parties for marketing without your prior written consent.

Your information2 clauses flagged

When ETO Markets asks in writing for information, you have 10 days to provide everything it believes it needs. After that it can suspend your account, and the delay counts as a default that lets it close your positions.

Why this matters

ETO Markets decides what it needs and can ask at any time. If gathering the documents takes longer than ten days, your open positions are at risk.

Exhibit 14WarningStandard wording10 days

when we issue you with a written request for information and within ten (10) days of the request we have not received all information which we believe that we require in connection with this Client Agreement; or
Clause 15.5(c) in Client Agreement, Margin FX and Contracts for Difference, p.36
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Written requestETO Markets asks in writing for information it believes it needs.15.5(c)
After 10 daysETO Markets can suspend your account, and you can only close positions.15.5(c)
Ten days missedMissing information is also an event of default.15.1(p)
Event of defaultETO Markets can close your positions, end the agreement and set off your balances.15.2
InvestigationETO Markets aims to finish within five business days and then tell you the outcome.15.6

ETO Markets' privacy policy says it may pass your personal information to third parties for marketing without your prior written consent. Clause 28.7 of the Client Agreement lets its related companies and third parties contact you about their products, even after you close your account.

Why this matters

Opening an account can put your contact details and other personal information in the hands of companies you never chose. Neither document names those companies, and you must ask ETO Markets to stop.

Exhibit 15WarningHarder than usual

To pass your personal information to third parties for marketing purposes without prior written consent.
Quoted in Privacy Policy, p.3
Read from the broker's site on Open the reference

Where it sits: section 8 of 29 in the Privacy Policy, 28% of the way through.

ETO Markets takes the other side of trades it sells as no dealing desk

ETO Markets advertises no dealing desk, yet clause 2.1 of its Client Agreement makes it the counterparty to all your trades. It adds its own markup to every price and may quote different clients different prices. Its conflicts clause, 29, still says it has no relationships that might influence it.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Dealing desk1 clause flagged

ETO Markets advertises its ECN and STP accounts as no dealing desk, meaning your orders pass straight to the market. The contract says ETO Markets takes the other side of every trade you make. It sets its own prices with a markup and may quote different clients different prices.

Why this matters

As the other side of your trades, ETO Markets is exposed to your results, and it also sets the price you trade at. Its conflicts clause says it has no relationships that might influence it.

Exhibit 7WarningStandard wording

In our dealings with you, we will act as principal and not as agent on your behalf. Accordingly, we will be the counterparty to all of your trades.
Clause 2.1 in Client Agreement, Margin FX and Contracts for Difference, p.11
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 1The company that takes the other side of your trades is also the one that decides, on its own belief, whether your winning trades were manipulation.

Your contract is with ETO Markets Limited in Seychelles

ETO Markets' About page leads with an ASIC licence, but every legal document names ETO Markets Limited, company 850672-1. The site's footer describes that company as registered in Seychelles and licensed by the Seychelles FSA. ETO Markets also binds you to a Product Guide, Terms of Service and Product Schedule that it does not publish.

Who you contract with2 clauses flagged

ETO Markets' About page leads with an Australian ASIC licence and an Australian head office. The Client Agreement you sign is with ETO Markets Limited, which the site's own footer describes as a Seychelles company licensed by the Seychelles FSA.

Why this matters

Nothing in your contract brings in ASIC's rules. The agreement never mentions ASIC or any Australian company, and Seychelles law governs it.

Exhibit 18WarningStandard wording

This Client Agreement is part of the agreement between ETO Markets Limited (Company no. 850672-1) (we, us, our or ourselves) and you the client (you, your or yourself).
Clause 1.1 in Client Agreement, Margin FX and Contracts for Difference, p.10
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: ASIC (Australia)

Firms licensed by ASIC must cap retail leverage on major currency pairs at 30 to 1, give retail clients negative balance protection, and belong to AFCA, a free complaints scheme. This contract is with the Seychelles company, whose account pages offer leverage up to 1:1000.

ETO Markets is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

ETO Markets publishes three documents on its legal page, but its terms bind you to others it does not publish. The promotion terms cite a Product Guide and Terms of Service. The Client Agreement keeps trade sizes and margin rates in a Product Schedule inside the platform, which ETO Markets can change at any time.

Why this matters

You cannot read these rules before you deposit, and the copy trading and PAMM services have no published terms at all. The site's footer names only the Privacy Policy and Risk Disclosure as documents to read before trading.

Exhibit 17Notice

By participating in this promotion, clients acknowledge that they have read, understood, and agreed to these Terms and Conditions, including the ETO Markets Product Guide and Terms of Service.
Clause General Terms and Conditions, 27 in Gold Racing Championship Terms and Conditions, p.5
Read from the broker's site on Open the reference

ETO Markets can cancel your winning trades on suspicion alone

ETO Markets gives you 30 days to prove with conclusive evidence that you did not manipulate its prices. Until you do, clause 9.7 lets it void your winning trades, enforce your losing ones and withhold the money. Clause 22.6 then makes you cover its legal costs, while the separate error clause, 9.6, is standard and requires good faith.

Profit voiding1 clause flagged

If ETO Markets decides a trade rested on a material error, such as a wrong price, it can reprice, close or cancel the trade. Clause 9.6 lets it do this without your consent, and recover any money already paid to you.

Why this matters

Error clauses are common, and this one requires good faith and prompt notice. Even so, a profit you have already withdrawn can become a debt payable on demand.

Exhibit 16NoticeStandard wording

If a trade is based on a Material Error, we reserve the right to do any of the following without your consent:
Clause 9.6(a) in Client Agreement, Margin FX and Contracts for Difference, p.24
Read from the broker's site on Archived copyOpen the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The account table sells hedging on every account, and clause 9.7 lists hedging as manipulation that lets ETO Markets void your profits.

Said in public, in English

Opposite position support

ECN account page, account comparison table: the Hedging row, described as Opposite position support, is ticked for the ECN, STP and CENT accounts

In the contract · clause 9.7

(iii) internal/external hedging;

02

ETO Markets advertises leverage up to 1:1000, then lists excessive leverage, which it never defines, as manipulation.

Said in public, in English

1:1000

ECN account page, Maximum Leverage row, the same figure for the ECN, STP and CENT accounts

In the contract · clause 9.7

(vi) use of excessive leverage;

03

The PAMM service has a single manager trading for many investors at the same time, which matches what clause 9.7 lists as manipulation.

Said in public, in English

ETO PAMM (Percentage Allocation Management Module) is a structured investment solution where a professional Money Manager executes trades on behalf of multiple investors.

ETO PAMM page, section Understanding ETO PAMM

In the contract · clause 9.7

(ii) different accounts being traded by one trader simultaneously;

04

The account page promises negative balance protection, and ETO Markets' own risk disclosure says you can lose more than your deposit.

Said in public, in English

All accounts include: 24/7 Support • Multiple Platforms • Expert Advisors • Negative Balance Protection

ECN account page, line under the account comparison table

In the contract

If your total exposure on margin trades exceeds your deposit, you risk losing more than your deposit.

05

The contract keeps you liable for losses beyond the money in your account, which is what negative balance protection exists to prevent.

Said in public, in English

All accounts include: 24/7 Support • Multiple Platforms • Expert Advisors • Negative Balance Protection

ECN account page, line under the account comparison table

In the contract · clause 14.3

You will remain liable for any losses in your Account which may be realised as the result of the filling of an Order, regardless of the trading resources available on your Account at the time the Order was filled.

06

The ECN page promises no dealing desk, and the contract makes ETO Markets the other side of every trade you place.

Said in public, in English

Connect directly to institutional pricing with no dealing desk.

ECN account page, feature headed Direct Market Access

In the contract · clause 2.1

In our dealings with you, we will act as principal and not as agent on your behalf. Accordingly, we will be the counterparty to all of your trades.

07

The STP page promises a no-dealing-desk environment, and the contract says ETO Markets sets the price itself as principal.

Said in public, in English

Benefit from a clear, no-dealing-desk environment.

STP account page, feature headed Transparent Pricing

In the contract · clause 9.1(a)

Principal: we act under the Agreement as a principal, and accordingly, set the applicable price at which we are prepared to deal with you;

08

The Chinese page promises true market pricing with no dealer intervention, and the contract says ETO Markets adds its own markup to the price.

Said in public, in Chinese

ECN 直通式交易执行，无交易员干预，报价公开透明。

Word for word in English: ECN straight-through execution, no dealer intervention, open and transparent quotes.

Simplified Chinese version of the ECN account page, chosen in the site's language menu, under the heading 真正的市场定价 (true market pricing)

In the contract · clause 9.4(b)

Our pricing: The Contract Price of a Margin FX Contract will be a bid or offer price (whichever is applicable) calculated by us by applying our markup to the rates provided to us by third party provides.

09

The page promises instant withdrawals, and the contract lets ETO Markets hold back money from your balance at its discretion.

Said in public, in English

Instant, secure deposits and withdrawals via multiple channels, including bank transfers and crypto.

ETO CopyTrading page, feature headed Fast & Flexible Payments

In the contract · clause 17.4

When your Account is in credit, you may request that we effect payment by alternative means of the amount in credit of such amount as you may specify. But, we may at our discretion withhold from the amount of the credit balance if:

10

Instant on the marketing page becomes generally within 24 hours in the contract, for requests made through the platform.

Said in public, in English

Instant, secure deposits and withdrawals via multiple channels, including bank transfers and crypto.

ETO CopyTrading page, feature headed Fast & Flexible Payments

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of eto.group

In the contract · clause 17.8(i)

Electronic transfer requests received via the Trading Platform are generally processed within 24 hours.

11

The About page promises funds fully separated at NAB, and the contract lets ETO Markets invest your money in investments it does not define.

Said in public, in English

Client funds are held in segregated accounts with National Australia Bank (NAB), fully separated from company capital.

About Us page, section Compliance as Our Foundation

In the contract · clause 23.2

We may invest any of your money held in any segregated account in the kinds of investments and you irrevocably and unconditionally authorise us to undertake any such investment.

12

The About page names NAB, while the contract only promises an institution within or outside Seychelles.

Said in public, in English

Client funds are held in segregated accounts with National Australia Bank (NAB), fully separated from company capital.

About Us page, section Compliance as Our Foundation

In the contract · clause 23.1

All money paid to us by you or a person acting on your behalf, or which is received by us on behalf of you, will be held by us in one or more segregated accounts with an institution within or outside Seychelles.

13

The About page leads with an ASIC licence, and the agreement you sign is with ETO Markets Limited, company 850672-1, the Seychelles entity.

Said in public, in English

Australian Securities & Investments Commission (ASIC), AFSL No. 420224

About Us page, first item under the heading ETO Markets is licensed and regulated under

In the contract · clause 1.1

This Client Agreement is part of the agreement between ETO Markets Limited (Company no. 850672-1) (we, us, our or ourselves) and you the client (you, your or yourself).

14

The Thai page invites all clients, and the only terms it links exclude clients in Southeast Asia, which includes Thailand.

Said in public, in Thai

ลูกค้าใหม่และลูกค้าปัจจุบันของ ETO Markets สามารถร่วมจับรางวัลได้ตลอดช่วงแคมเปญ

Word for word in English: New and existing ETO Markets clients can take part in the lucky draw throughout the campaign period.

Thai version of the 13th Anniversary Lucky Draw page, chosen in the site's language menu, answer to the question of who can take part; the page's terms link opens the global English terms

In the contract · clause General Terms and Conditions, 1

This promotion is available to eligible new and existing clients worldwide, excluding clients from Southeast Asia (SEA) where separate promotional terms apply.

15

The separate Southeast Asia terms, which the Thai page does not link, exclude residents of Thailand too.

Said in public, in Thai

ลูกค้าใหม่และลูกค้าปัจจุบันของ ETO Markets สามารถร่วมจับรางวัลได้ตลอดช่วงแคมเปญ

Word for word in English: New and existing ETO Markets clients can take part in the lucky draw throughout the campaign period.

Thai version of the 13th Anniversary Lucky Draw page, chosen in the site's language menu, answer to the question of who can take part

In the contract · clause General Terms and Conditions, 1

This promotion is available to new and existing ETO Markets clients in Southeast Asia excluding residents of Thailand.

The documents this reading is based on

8 files, all published by ETO Markets. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording ETO Markets publishes.

How this reading was done

Every clause above was read out of a document ETO Markets publishes itself

This reading was published on .

Documents
8 of 8downloaded from the broker's site, and 8 read in full
Pages opened
88pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
EN vs TH vs ZHthe language it advertises in, against the language it contracts in
Position measured
1clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

ETO Markets Limited

Every document reviewed names ETO Markets Limited, company no. 850672-1, as the company you deal with. The site's footer describes it as registered in Seychelles and authorised by the Seychelles FSA under licence SD062. The About page also lists an ASIC licence (AFSL 420224) and a Mauritius FSC licence, but neither appears anywhere in the Client Agreement, which Seychelles law governs. The PDF cover pages spell the name ETO Market Limited, a typo for the same company. Our separate broker review covers whether each licence is real and current.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

ETO Markets publishes its full 61-page Client Agreement, risk disclosure and privacy policy as dated PDFs, and its sign-up page links all three before you register. Its risk disclosure says that ETO Markets is the counterparty to your trades and that you can lose more than your deposit. The contract charges no inactivity or dormancy fee and attaches no bonus to your deposit. ETO Markets aims to finish account investigations within five business days (clause 15.6), must give 30 days' notice before closing your account without cause (18.5), and lets you take an unresolved complaint to the Seychelles FSA (27.2). Its promotion terms are short, dated and written in plain English.

No earlier version of these documents is available for comparison. ETO Markets' legal page offers the Client Agreement through a download button rather than a link, and the review covers all 61 pages. It also covers the terms of both current promotions, the Thai version of the gold contest terms, and a Southeast Asia version of the lucky draw terms that sits on ETO Markets' website but is not linked from the promotion pages. The Chinese and Thai claims quoted here appear only after you choose that language in the site's language menu, and the web address stays the same. The Product Schedule, Product Guide, Terms of Service, trading rules and internal complaints process that ETO Markets refers to are not covered, because it does not publish them. ETO Markets publishes no terms for its copy trading or PAMM services. The review does not cover the Korean, Portuguese or French versions of the site.

How to check any of this yourself

Every quote above links to the ETO Markets file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document ETO Markets publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge ETO Markets on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 22, 2026.

If you represent ETO Markets and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on ETO Markets. Whether its licence is real and current is a separate check on the broker profile.

What traders say about ETO Markets

Comments on ETO Markets are posted on its profile

Nobody has commented on ETO Markets yet. If you have traded with them, your experience helps the next reader decide.

Write the first comment
Back to the ETO Markets profile