eToro: withdrawal of funds

Withdrawing Funds from eToro

Are you looking to withdraw funds from your eToro account? No worries! Clients have the flexibility to withdraw funds from their eToro account at any given time.

Withdrawals can be made up to the balance of your eToro account, minus any utilized margin.

The withdrawal process entails funds being transferred via the same method and to the same account utilized for the deposit.

Payments are prioritized in the following order:

• Credit card
• PayPal
• Wire transfer

Please be aware that an alternate payment method may be required if eToro is unable to refund funds using the original deposit method.

eToro typically processes withdrawal requests within one (1) business day, provided all necessary information has been provided.

The duration to receive your payment will vary depending on the selected payment method.

Upon completion of your withdrawal request, you’ll receive a confirmation email detailing the payment method used to transfer your funds.

For further updates on the status of your withdrawal request, you can check your eToro account dashboard.

Requirements for Withdrawing Funds from eToro

To initiate a withdrawal request, the following conditions must be met:

• The minimum withdrawal amount is $30 USD.
• Sufficient withdrawable funds must be available.
• Your account must be verified, indicated by a green checkmark on your profile. If your account is not yet verified, please contact eToro and upload the necessary documents.
• Your personal information, payment details, and accompanying documentation are safeguarded by eToro’s strict information security policy.

eToro’s stringent guidelines ensure the protection of your personal information and adherence to the highest security standards expected by end-users of financial services.

eToro Fund Withdrawal Costs

Withdrawal requests from eToro are subject to a processing fee, which can be viewed at the Cashier upon entering the withdrawal amount. At this stage, cancellation of the request is still possible.

Withdrawals made in currencies other than USD are subject to conversion fees.

Please be aware that the payment provider involved in the transfer (intermediary bank, recipient bank, or your credit card provider) may impose additional charges.

To cancel a withdrawal request, follow these steps:

1. Access your withdrawal request here or navigate to your investment account and click on the ‘Withdraw funds’ tab.
2. A pop-up message will appear. Click the ‘Click here’ link to view your withdrawal history.
3. Click the ‘Void’ button next to the withdrawal request. Note that cancellation will not be possible if the transaction status is ‘In Progress’.
4. Confirm the cancellation.
   All funds, including withdrawal fees, will be promptly returned to your account balance.

What to Do If Funds Are Not Received in Your Account

If the funds do not appear in your account:

• Click here to check the current status of your withdrawal request in your eToro account dashboard.
• Alternatively, review the email received regarding the processing of your withdrawal, which specifies the payment method and date of transfer.
• Please note that following eToro’s withdrawal processing, it may take up to 8 business days for the funds to reflect in your account.
• If you have completed the above steps and the funds are still not received, please contact eToro.
• eToro may request a payment statement illustrating incoming and outgoing transactions from the withdrawal processing date to the present.
• Ensure your name, transaction dates, and payment method details are clearly visible for eToro’s review.

Fees and Commissions for eToro’s Copy Trading Service

Opening an account on eToro is completely free! There are no management or incident opening fees, and investing in shares incurs no commissions.

Withdrawals attract a nominal fee of $5, and there are no setup fees.

Key Features:

• Free account opening
• Access professional tools and benefit from collective insights.
• Zero commission on shares
• No margins, incident commissions, or stamp duty.
• No management fees whatsoever, even when copying other investors or investing in portfolios.

Moreover, joining eToro is free, and all registered users have access to a virtual account with $100,000 for practice.

However, like most online platforms, eToro does apply various spreads and fees for certain trades and withdrawals.

Commissions for Overnight and Weekend Trades

CFD positions left open overnight are subject to a small commission based on the position’s value. This commission essentially functions as an interest payment covering the leverage cost overnight.

Weekend commissions are charged for positions held open over the weekend, equivalent to triple the overnight commission rate.

These weekend commissions are levied on Wednesdays or Fridays, depending on the asset.

Position renewal fees (overnight/weekend) fluctuate based on global market conditions, with eToro implementing changes accordingly.

Please note that commission adjustments apply to open positions, and it’s advisable to stay updated on current position renewal fees by visiting eToro’s rates page.

Kindly be aware that rates may change without prior notice.

Overnight commissions are applied nightly between Monday and Friday at 17:00 EST for open CFD positions.

Weekend commissions (x3) are charged on Fridays for most stocks, CFDs on stocks, ETFs, and indices, and on Wednesdays for most cryptocurrencies, commodities, and currencies.

Commissions for overnight oil and natural gas positions are levied on Fridays.

Cryptocurrency commissions are exempted from nightly charges on Saturdays and Sundays.

LIBOR (London Interbank Offered Rate) serves as the benchmark interest rate for interbank lending. Thirty-five different LIBOR rates are published daily, varying in maturities from one-day to 12-months and calculated across five currencies.

eToro utilizes the one-month LIBOR rate to compute overnight fees for shares.

Currency Conversion Fees

eToro predominantly operates in USD currency.

Hence, whenever funds are deposited or withdrawn in a different currency, they are converted to USD.

For a comprehensive explanation of the diverse conversion fees, please refer to the ‘Other Fees’ tab.