Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
5/10 · ModerateGenuine licences, but ASIC AFSL 420224 covers only the Australian company; etomarkets.com accounts sit under Seychelles FSA SD062 or Mauritius FSC, offshore with no compensation scheme.
Identity & transparency
3/10 · LowEntity, company and licence numbers disclosed and matched on registers, and the group link to the ASIC licensee is confirmed; minor address mismatch and no clear statement of which entity holds client money.
Withdrawals & conduct
6/10 · HighSix fund-integrity reports on two platforms (Nov 2023 to Jul 2026) describe the same profit-cancellation pattern with checkable details; ETO replies but shows no resolution.
Reputation
5/10 · ModerateTrustpilot 4.1 from 24 reviews but split 59% five-star and 29% one-star, with a same-day five-star burst in August 2023; no regulator warnings anywhere.
Website claims
6/10 · HighOffshore site leads with ASIC and NAB-held client funds that do not cover its accounts, and shows a BrokerChooser award that BrokerChooser's own page does not support.
Operational history
6/10 · HighCompany registered Feb 2012, ASIC licence from Feb 2013, main domain July 2017: about nine verifiable years, consistent with the 2013 founding claim.
Who they are
A quick desk file on the company behind the brand.
- Brand: ETO Markets (in Australia also ETO Prime).
- Legal entity: ETO Markets Limited, Seychelles company no. 850672-1, licensed by the Seychelles FSA as a Securities Dealer (SD062). The sign-up portal also offers a Mauritius affiliate listed by the FSC as ETO Markets (Investment Dealer, licence C119023893).
- Australian sister company: ETO Group Pty Ltd (ACN 155 680 890), registered on 14 February 2012 as ETORO GROUP PTY LTD and renamed in August 2015; we found no link to the broker eToro. It holds ASIC AFSL 420224 and runs etomarkets.com.au from Suite 1202, Tower B, 799 Pacific Highway, Chatswood NSW.
- Registered: the Seychelles FSA lists the licensee at Office No. 20, First Floor, Abis Centre, Providence Industrial Estate, Mahé. The website gives F20, 1st Floor, Eden Plaza, Eden Island.
- Website: etomarkets.com (registered July 2017), plus about a dozen mirror domains carrying the same site, including eto.group, etomarkets2.com and eto-markets.com.
- Licences: ASIC for the Australian company only; Seychelles FSA and Mauritius FSC, both offshore, for the international business.
- Offers: forex, metals, energy, index and crypto CFDs on MT4 and MT5; ECN, STP and cent accounts; leverage up to 1:1000; copy trading and PAMM.
- Not accepted: residents of the United States, Canada, Malaysia, Israel, Russia, Ukraine and about 20 other countries.
- Age claim: founded in Sydney in 2013. The ASIC licence did start on 1 February 2013; the ETO Markets name and main domain date from 2017.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Australian Securities and Investments Commission (ASIC)
Seychelles Financial Services Authority (FSA)
Mauritius Financial Services Commission (FSC)
Why we reached this verdict
How the evidence adds up.
We rate ETO Markets high risk rather than a scam: its licences are real and sit on the right registers, but a client of etomarkets.com gets offshore protection, and a pattern of cancelled profits remains unresolved.
- Who holds your money. The ASIC licence (AFSL 420224, current, permitted to deal in and make a market for derivatives and FX for retail clients) belongs to ETO Group Pty Ltd. Its Australian site accepts only Australian residents and caps retail leverage at 1:30. Accounts opened through etomarkets.com, at up to 1:1000, sit with ETO Markets Limited in Seychelles or the Mauritius affiliate.
- Offshore licences confirmed. The Seychelles FSA lists ETO Markets Limited as a Securities Dealer with the same phone number and email the broker publishes. The Mauritius FSC lists ETO Markets as an Investment Dealer licensed on 28 November 2019. Neither jurisdiction runs a compensation scheme.
- A repeated withdrawal complaint. Six clients or introducers, on two platforms, say profits were removed or accounts closed once they asked to withdraw after profitable trading (November 2023 to July 2026). The reports describe the same failure, come from different people and include checkable details: one gives a $11,900 deposit, $35,568 of profit and the account number. They are spread over three years rather than bunched together, which points to a recurring dispute practice rather than a withdrawal freeze.
- Overstated protection. The international site says client funds are held in segregated accounts at National Australia Bank and lists ASIC first, without explaining that ASIC rules do not cover its offshore accounts. It also shows a 2022 BrokerChooser award, while BrokerChooser's own page says it has not reviewed or tested ETO Markets.
- What we did not count. A March 2024 review describing a $16,000 tax demand before withdrawal, and two US reports of a crypto platform that vanished or blocked withdrawals over a credit score, name no website or account. That script is typical of fake apps that borrow real broker names, so we did not attribute them to ETO Markets.
- No warnings. IOSCO's alert network, the FCA register and Malaysia's investor alert list carry nothing on ETO Markets, its domains or its companies, and we found no ASIC action against ETO Group Pty Ltd.
- Track record. The company dates from February 2012 and the main domain from July 2017, so we count about nine years of verifiable operation. The 2013 founding claim matches the ASIC licence start.
- How the 46% is built. It is the weighted average of six risk scores, with regulation, identity and fund-related complaints counted double. No hard-evidence floor applies.
Evidence ledger
Every finding, with its source and how strongly it points.
E1ASIC's register shows ETO GROUP PTY LTD, AFSL 420224, status CURRENT, commenced 1 Feb 2013, authorised to deal in and make a market for derivatives and FX contracts for retail and wholesale clients (conditions as at 16 Dec 2025). Principal website etomarkets.com.au; principal place of business Chatswood NSW; AFCA member 33112. Name history: ETORO GROUP PTY LTD until 10 Aug 2015.
E2The Seychelles FSA lists ETO MARKETS LIMITED as a Securities Dealer with phone +248 4374772, email info@eto.group and website eto.group. The same phone and email appear in the etomarkets.com footer, so name and contacts match the company that opens accounts on etomarkets.com. The entry does not print the SD062 number or any dates.
E3Searching ETO Markets on the FSC Mauritius Online Public Register returns one entry: ETO Markets, SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting), licensed 28 Nov 2019, status company is incorporated, Port Louis address, management company Mondial Management Services Ltd. No licence number or contacts are shown, so the link to licence C119023893 rests on the name and the broker's own statement. The register has no per-entity link and must be searched by name.
ModerateFSC Mauritius Online Public RegisterE4ASIC's company dataset shows ETO GROUP PTY LTD (ACN 155 680 890) registered on 14 Feb 2012, status registered, previously named ETORO GROUP PTY LTD, current name from 11 Aug 2015.
E5ABN Lookup shows ETO GROUP PTY LTD (ABN 66 155 680 890), an Australian private company, owns the business names ETO Markets (from 10 Nov 2017) and ETO Prime (from 4 Dec 2017), tying the brand to the ASIC licensee.
E6An archived copy of etomarkets.com from 5 Nov 2018 carries the disclaimer: ETO Group Pty Ltd (trading names include ETO Markets and ETO Prime), ABN 66 155 680 890 and AFSL 420224, regulated by ASIC. The main domain has belonged to the group since at least 2018, so the site is not a clone of the licensee.
E7The client portal, titled ETO Markets Limited, states that ETO Markets Limited is registered in Seychelles (company 850672-1) under FSA licence SD062 and that ETO Markets is regulated by the Mauritius FSC (C119023893). Accounts offer leverage up to 1:1000, which ASIC does not allow for retail clients, so etomarkets.com clients contract with the offshore entities.
E8The etomarkets.com About page says ETO Markets is licensed under ASIC AFSL 420224, Seychelles FSA SD062 and Mauritius FSC C119023893 and that client funds are held in segregated accounts with National Australia Bank, without explaining that ASIC protection and the NAB arrangement are not shown to apply to accounts opened with the offshore entities.
Moderateetomarkets.com About pageE9ETO Group Pty Ltd's own site caps retail leverage at 1:30, states it is not directed at anyone other than Australian residents, and gives the Chatswood address on the ASIC register and the contact address info@etomarkets.com.
Moderateetomarkets.com.auE10etomarkets.com displays a 'Best Forex Broker 2022' award from BrokerChooser. BrokerChooser's own page on ETO Markets says it has not yet reviewed ETO Markets' services in detail and did not test its services; we found no such award.
E11Trustpilot page for www.etomarkets.com: 24 reviews, TrustScore 4.1, 59% five-star and 29% one-star. Five one-star reviews from Spain, Vietnam and the US (Feb 2024 to Jul 2026) describe profits cancelled, accounts locked or withdrawals reversed after profitable trading; one gives a $11,900 deposit, $35,568 of profit and the account number, another a $10,000 profit. ETO replied to each asking for account details, mostly 12 to 16 months later, with no resolution shown.
StrongTrustpilotE12A mediation case filed on a third-party broker directory in Nov 2023 reports withdrawals refused after profitable trading, the account closed and the balance cleared ($3,900 claimed). ETO replied from info@eto.group asking for evidence, and the case closed without follow-up.
ModerateA third-party broker directoryE13Forex Peace Army (copy archived 18 Apr 2024) lists two one-star reviews. One, from Spain in Feb 2024, repeats the Trustpilot complaint of a withdrawal under review for over a month. The other, from France in Mar 2024, describes a demand for a $16,000 tax before withdrawing profit on an app; it names no website or account and follows the script of fake apps that use real broker names, so it was not attributed to ETO Markets.
E14Two US reviews on the Trustpilot page (Jul to Sep 2024) describe a crypto withdrawal blocked over a low credit score and a platform that disappeared. ETO does not accept US residents and runs MT4 and MT5 accounts; both reports fit fake apps using the ETO name and were not attributed to the broker.
WeakTrustpilotE15Several five-star Trustpilot reviews were posted on 23 Aug 2023 by one-review accounts, mostly from the Philippines, praising signals, a coach and a master trader, in the month ETO claimed its Trustpilot profile. This looks like an organised push rather than organic feedback.
WeakTrustpilotE16IOSCO I-SCAN returns no warning for etomarkets. A keyword search for ETO Markets returns two unrelated warnings, about eToroX (Netherlands AFM) and ETOFXOPTIONS at etofxoptions.com (Belgium FSMA), neither tied to this broker's domains or companies.
ModerateIOSCO I-SCANE17The Securities Commission Malaysia Investor Alert List has no entry for ETO Markets, its domains or its companies; its eToro-named clone entries carry no ETO domain or entity.
E18The FCA register returns no firm, authorised or unauthorised, for ETO Markets. ETO does not claim UK authorisation.
ModerateFCA Financial Services RegisterE19RDAP shows etomarkets.com registered on 27 Jul 2017 (GoDaddy, renewed to 2029) and eto.group on 18 Dec 2017; the other domains date from 2023 to 2026. The earliest archived capture of etomarkets.com is 20 Oct 2017.
ModerateRDAP (Verisign registry)E20etomarkets2.com serves an identical copy of etomarkets.com naming ETO Markets Limited and SD062. Its web host, and those of etomarkets3.com, etomarkets4.com, etomarketsglobal.com, etomarketsfx.com, etomarketszone.com, eto-markets.com, etocenter.com and etomarkets.net, point to the same hosting target as eto.group, the website on the FSA register. These are the broker's own mirrors, not clones.
The other side
The strongest case in this broker’s favour.
The best case for ETO Markets is that it is an established, genuinely licensed group whose disputes look like arguments over trading rules rather than theft.
- ETO Group Pty Ltd has held a full ASIC market-making licence since 1 February 2013, and we found no suspension or enforcement against it.
- The main domain has belonged to the group for years: the archived etomarkets.com of November 2018 names ETO Group Pty Ltd and AFSL 420224, and ETO Markets has been a registered business name of that company since November 2017.
- The Seychelles and Mauritius licences are real and current, and the Seychelles register carries the phone and email the broker publishes.
- Six fund complaints in about three years is not a large number, and several come from introducers managing other people's accounts or running trading robots, practices that offshore brokers' terms often restrict.
- ETO replied to every negative Trustpilot review, and in one Spanish case it gave dates showing a December 2023 withdrawal paid.
- The look-alike domains, such as etomarkets2.com and eto-markets.com, are the broker's own mirrors, not clones.
What would change this
What we would need to see to revise the verdict.
The rating would move if any of these appeared.
- Lower risk: ETO publishing the outcomes of the cancelled-profit cases, or an FSA, FSC or ombudsman decision showing those clients were paid.
- Lower risk: the international site stating clearly which company holds client money and that ASIC protection applies only to etomarkets.com.au clients, and dropping award claims it cannot support.
- Lower risk: an independent audit confirming segregated client money at the Seychelles and Mauritius entities.
- Higher risk: a regulator warning or enforcement action naming ETO Markets, its domains, ETO Markets Limited or ETO Group Pty Ltd.
- Higher risk: a verified case of ETO staff demanding a fee or tax before releasing funds.
- Higher risk: a sudden cluster of withdrawal complaints, or the loss of the Seychelles or Mauritius licence.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
ASIC register: ETO Group Pty Ltd (AFSL 420224)
Licence status, permissions and the Australian website it covers. ETO publishes no verify link, so this is the register's own entry.
Seychelles FSA: ETO Markets Limited
Securities Dealer listing with the firm's registered address, phone, email and website.
ABN Lookup: ETO Group Pty Ltd
Shows ETO Markets and ETO Prime registered as business names of the ASIC licensee.
ETO Markets: About us
The broker's own licence list, client-funds claim and founding timeline.
ETO Group's Australian site
The ASIC-licensed service for Australian residents, with 1:30 retail leverage.
Trustpilot reviews of etomarkets.com
Client reviews, including the withdrawal complaints and ETO's replies.
IOSCO I-SCAN search: etomarkets
Global regulator warning search; no warning for this broker at the time of writing.
Frequently asked questions
Quick answers about this broker’s safety.
Is ETO Markets a scam?
We do not classify ETO Markets as a scam. It is a real group with genuine licences in Australia, Seychelles and Mauritius, and no regulator has warned against it. We do rate it high risk (46%), because accounts opened on etomarkets.com are held by offshore companies and clients have repeatedly reported profits being cancelled when they asked to withdraw.
Is ETO Markets a fraud?
We found no regulator warning, enforcement action or fraud-related court record naming ETO Markets, ETO Markets Limited or ETO Group Pty Ltd. What we did find is a recurring set of client complaints about cancelled profits and closed accounts, which ETO answers but has not shown as resolved. We assess that as a high risk of losing profits in a dispute, not as proven fraud.
Is ETO Markets regulated?
Yes, but by different regulators for different clients. ETO Group Pty Ltd holds ASIC licence 420224 for its Australian business at etomarkets.com.au. The international site etomarkets.com is run by ETO Markets Limited, licensed by the Seychelles FSA (SD062), alongside a Mauritius affiliate licensed by the FSC (C119023893).
Does the ASIC licence protect my account on etomarkets.com?
Usually not. The ASIC licence is held by ETO Group Pty Ltd, whose Australian site accepts only Australian residents and caps retail leverage at 1:30. Accounts opened on etomarkets.com, with leverage up to 1:1000, are opened with the Seychelles or Mauritius company, which ASIC does not supervise.
Which company holds my money if I sign up on etomarkets.com?
The sign-up portal and the site footer name ETO Markets Limited, registered in Seychelles under company number 850672-1 and licensed by the Seychelles FSA (SD062). The portal also offers the Mauritius entity licensed by the FSC. Your client agreement will confirm which one you contracted with.
Can I withdraw my money from ETO Markets?
Some reviewers report fast deposits and withdrawals. But between November 2023 and July 2026, six clients or introducers reported profits removed or accounts closed after they asked to withdraw, with the broker citing trading-rule problems in some cases. Withdraw profits regularly and keep full records of every request.
Is my money safe with ETO Markets?
That depends on the company you contract with. Australian clients of ETO Group Pty Ltd have ASIC client-money rules and access to the AFCA complaints scheme. Clients of the Seychelles or Mauritius companies have offshore supervision and no compensation scheme, and the site's claim that client funds sit at National Australia Bank is not shown to apply to them.
Who owns ETO Markets and how long has it existed?
The brand belongs to a group whose Australian company, ETO Group Pty Ltd, was registered on 14 February 2012 and has held an ASIC licence since 1 February 2013. The ETO Markets business name and the etomarkets.com domain date from 2017, so we count about nine years of verifiable operation under this name.
What are the Seychelles FSA and Mauritius FSC licences worth?
Both are real offshore licences, and both entities appear on their regulators' registers. They allow very high leverage and offer no compensation scheme, so in a dispute your main recourse is the regulator's complaints process. Mauritius supervision is generally regarded as firmer than Seychelles, but neither compares with ASIC.
Is etomarkets.com a clone? What about etomarkets2.com, eto-markets.com or eto.group?
etomarkets.com is the genuine site: an archived copy from November 2018 names ETO Group Pty Ltd and its ASIC licence. eto.group is the website the Seychelles regulator records for ETO Markets Limited, and etomarkets2.com, etomarkets3.com, etomarkets4.com, etomarketsglobal.com and eto-markets.com carry the same site on the same hosting setup. They are mirrors run by the broker, not clones.
I was asked to pay a tax or fee before I could withdraw. Is that ETO Markets?
Do not pay, whoever asks. One review from March 2024 describes a $16,000 tax demand on an app using the ETO name, but it gives no website or account, and that script is typical of fake apps that borrow real broker names. Check the web address you deposited through against the domains listed in this report, and report the request to ETO and to the regulator.
What should I check before depositing with ETO Markets?
Confirm which company you are contracting with, read the client agreement's rules on cancelling trades and profits, and test a small withdrawal before funding fully. Be careful with trading robots or strategies the agreement restricts, keep records, and do not rely on the ASIC licence unless you are an Australian client of etomarkets.com.au.
What can I do if ETO Markets cancels my profits?
Ask ETO in writing for the exact clause and the trades it relies on, and keep every reply. Then complain to the regulator of the company you contracted with: the Seychelles FSA or the Mauritius FSC. Australian clients of ETO Group Pty Ltd can take the dispute to AFCA.
What we recommend
The practical takeaway from everything above.
If you trade with ETO Markets or plan to, protect yourself with a few steps.
- Check which company your account is with. Unless you are an Australian resident who opened an account on etomarkets.com.au, it is ETO Markets Limited in Seychelles or the Mauritius entity, not the ASIC-licensed company.
- Withdraw profits regularly and keep records: trade history, withdrawal requests, support replies, dates and your account number.
- Read the client agreement's rules on cancelling trades or profits before using trading robots, copy trading or an introducing broker.
- If profits are cancelled, ask ETO in writing for the clause and the trades it relies on, then complain to the regulator of your entity: the Seychelles FSA or the Mauritius FSC. Australian clients of ETO Group Pty Ltd can go to AFCA.
- Never pay a fee, tax or extra deposit to release a withdrawal, whoever asks.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 22, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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