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Meet Eighttoro: When Two Broker Brand Names Manipulated to Become One Scam

Tuesday, 27/01/2026 | 11:37 GMT by Arnab Shome
  • CySEC recently issued a warning against eighttoro, which is impersonating the brands of Eightcap and eToro, two legitimate brokers.
  • The now taken-down website of the fraudulent platform was in Russian, indicating that it was targeting Russian speakers.
Star Wars, row of clone trooper from the 212th Attack Battalion
Star Wars, a row of clone trooper from the 212th Attack Battalion

Are you confused about choosing between Eightcap and eToro as your broker? Then you have a third option — eighttoro — which, of course, is a fraudulent platform with no association with legitimate brands.

Two Brokers, One Clone

The Cyprus financial market watchdog has issued a warning against eighttoro, flagging it for not being authorised by the regulator. The warning also named four other platforms.

The eighttoro name draws attention as it appears to be a combination of Eightcap and eToro, two legitimate brokers. Its logo also resembles eToro’s logo. The scammers may be attempting to benefit from the popularity of these legitimate platforms.

Although it appears that the hosting service provider has blocked the fraudulent website, its archived version was in Russian, indicating that it targeted Russian speakers.

The archived version of eighttoro shows that it claimed to offer access to more than 7,000 assets across forex, stocks, cryptocurrencies and other asset classes.

It also claimed to have 350,000 users globally, which is higher than many established brands.

The Scam Industry

The impersonation of brokerage brands has now reached an industrial scale. According to a 2023–2024 report by Akamai, more than 36 per cent of all traffic to typosquatted domains targets financial institutions, making finance the most abused sector online.

The CEO of Pepperstone, Tamas Szabo, also recently stated that his broker is taking down scam websites and fake social media accounts impersonating the firm almost every day.

Brokers are not alone. Regulators, including CySEC, are repeatedly issuing warnings about the widespread impersonation of their websites, social media accounts and even staff members.

In an interview, CySEC Chair Dr George Theocharides admitted that scammers will always be one step ahead of regulators, despite warnings and enforcement efforts.

“Our responsibility is to make it as difficult as possible for them to do so,” he said, referring to the scale of financial scams. “But will the problem ever completely disappear? No, it won’t. There will always be sophisticated scammers and fraudsters who find ways to exploit the system.”

Are you confused about choosing between Eightcap and eToro as your broker? Then you have a third option — eighttoro — which, of course, is a fraudulent platform with no association with legitimate brands.

Two Brokers, One Clone

The Cyprus financial market watchdog has issued a warning against eighttoro, flagging it for not being authorised by the regulator. The warning also named four other platforms.

The eighttoro name draws attention as it appears to be a combination of Eightcap and eToro, two legitimate brokers. Its logo also resembles eToro’s logo. The scammers may be attempting to benefit from the popularity of these legitimate platforms.

Although it appears that the hosting service provider has blocked the fraudulent website, its archived version was in Russian, indicating that it targeted Russian speakers.

The archived version of eighttoro shows that it claimed to offer access to more than 7,000 assets across forex, stocks, cryptocurrencies and other asset classes.

It also claimed to have 350,000 users globally, which is higher than many established brands.

The Scam Industry

The impersonation of brokerage brands has now reached an industrial scale. According to a 2023–2024 report by Akamai, more than 36 per cent of all traffic to typosquatted domains targets financial institutions, making finance the most abused sector online.

The CEO of Pepperstone, Tamas Szabo, also recently stated that his broker is taking down scam websites and fake social media accounts impersonating the firm almost every day.

Brokers are not alone. Regulators, including CySEC, are repeatedly issuing warnings about the widespread impersonation of their websites, social media accounts and even staff members.

In an interview, CySEC Chair Dr George Theocharides admitted that scammers will always be one step ahead of regulators, despite warnings and enforcement efforts.

“Our responsibility is to make it as difficult as possible for them to do so,” he said, referring to the scale of financial scams. “But will the problem ever completely disappear? No, it won’t. There will always be sophisticated scammers and fraudsters who find ways to exploit the system.”

Topics
forex scams
About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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    In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights

    In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles. We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading. You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts. We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services. Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance. 📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage. Connect with us: 🔗 LinkedIn: /financemagnates 👍 Facebook: /financemagnates 📸 Instagram: https://www.instagram.com/financemagnates 🐦 X: https://x.com/financemagnates 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: /@financemagnates_official #Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
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