I usually really don't care that much when a program is fucked up but eToro is to Forex what PokerStars is to Poker and I'm sure anyone in the Forex niche will care.
I don't promote them through their program but I know some affiliates that do so I'm a subaffiliate there.
Last week they sent an email that the lifetime value of my subaffiliates traders is too low and they can't cover my REVENUE SHARE commission. They did not even bother to negotiate, it was just a notice that my revenue share is cut down (don't even mention how much). All my subs are sending high quality search engine traffic, not targetting any low value traders in any way btw. Ok, so far so "good".
Now a few of my subs where complaining about their new "branding guidelines". They sent an email to all partners (me included) that they have to make changes when mentioning their brand. And these changes are incredible. For example you are not allowed to mention "Forex" but only "social investment network" (even though you can trade Forex there of course), you have to add risk disclaimers (the only thing I understand) and they don't want to appear anywhere near other brokers (ridicolous as well). They also don't want you to use their brand in your URLs (not domain!) so something like www.forexbrokersthatsuck.com/etoro is not allowed. And the list goes on and on. If you have a fairly large site it'll take a few days to implement all changes.
And the best part of course is: they send emails to those affiliates who did not change everything properly after one week and threaten to terminate their account. I'm sure some affiliates will just give a shit and lose ongoing commission then.
I think it's good when brands stay aware of protecting their brand, I also don't want my brand to appear next to porn or something but that's just ridicolous and obviously extremly shady to say the least. To me it just looks as if they try to cut down costs and screw over affiliates. That's the easiest way for operators I think.
If you think about promoting them think twice. With their new "guidelines" it's almost impossible to make decent money btw. They just disallow affiliates to represent them anywhere.
Update regarding subaffiliate commission. See this post.