Magento returns error: SOAP-ERROR: Parsing WSDL: Couldn't load from 'https://www.YourURL.com/index.php/api/v2_soap/index/?wsdl=1' : failed to load external entity "https://www.YourURL.com/index.php/api/v2_soap/index/?wsdl=1"


1. Web hosting provider does not support loopback connection which is essential for Magento to operate.
- Contact the provider and ask them to confirm whether or not loopback connection is supported.


2. Magento store cannot connect to itself to load external entity "https://www.YourURL.com/index.php/api/v2_soap/index/?wsdl=1"

- Enable WSDL caching in Magento backend: System > Magento Core API > Enable WSDL Cache set it "Yes".


3. Magento is heavily loaded and has performance issues, thus, the request cannot be processed and timeout occurs. 

- Try again later.