eToro is a great broker to start trading with since it can help you make profits without having trading experience with the help of copy and social trading.
This broker has a reliable trading platform, allowing you to withdraw funds with a simple and easy process.
Withdrawing Money from eToro: How To?
eToro is one of the leading brokers on the market, thanks to its transparent policy and user-friendly platform. You have nine methods to withdraw your funds with a minimum withdrawal limit of $0. You can withdraw your funds with more than one option:
- Webmoney UK
- Skrill Limited United Kingdom
- Wire transfer
eToro doesn’t allow you to withdraw funds until you confirm your identity with a color photocopy of your passport, a proof of your signature, confirmation of residence, and other documents that the broker requires.
If you want to withdraw funds from eToro, you’ll have to:
- Access the left-hand menu and click on the ‘Withdraw Funds’ button
- Select the withdrawal amount
- Select the transfer method
- Initiate the withdrawal process
In most cases, the process will take up to 1 business day. If you use a debit/credit card or a bank transfer option, it can take between 3 to 5 days or longer.
Canceling A Request
eToro allows you to cancel your withdrawal before it gets approved. If your request is under review, you can cancel without being charged fees or losing money. The downside is that if eToro has already approved your request, you’ll have to reach out to support to cancel your withdrawal.
If you want to cancel a withdrawal from eToro, you’ll have to:
- Log in to your eToro account and click on ‘Withdraw Funds’
- It will open a pop-up message box, where you can see your withdrawal history under the Click Here hyperlink
- Use the reverse button on the withdrawal you want to delete
- Validate the cancellation
Payment Delays And Withdrawal Problems
The standard withdrawal timeframe is from 4 to 8 days.
Based on your withdrawal method, it could take more time than usual, but you don’t have to worry about it.
However, if you have doubts, you can reach out to eToro’s customer support team. They have outstanding reviews and commit to answering any request as soon as possible.
eToro customer service is available via live chat and an online ticketing system. You can also check the Help Center, where the Frequently Asked Questions are listed.
Why Choose eToro?
- It has an excellent reputation and several regulations from top-tier providers
- It has a minimum deposit of $200
- It offers a user-friendly platform suitable even for beginner traders
- It offers low trading fees and spreads
- It lets you trade cryptocurrency
- It comes with several financial instruments
- It is the leading broker for collaborative and social trading
- Its customer service is knowledgeable and prompt
- It offers negative balance protection
- Stocks have a 0% commission
- No hidden fees included
eToro is a leading broker with over 4 million users from over 140 countries. It is an excellent choice for traders looking forward to investing in CFDs, currency pairs, stocks, ETFs, commodities, and cryptocurrencies.
The advantage of this broker is that it can help you make a profit even though you don’t have any trading experience. Their social trading feature is one of the best on the market, offering access to professional traders’ insights.
Besides, the withdrawal process is transparent and comes with several tools to transfer your funds. All you have to do is understand the broker’s conditions for traders. If you verify your account, transferring funds is a transparent process.
Key Aspects For Hidden Fees At eToro
There are many key aspects to keep in mind when choosing a trading platform, such as eToro:
- the experience a broker has with day trading
- the customer support available
- the regulations in case of disputes or losses
- the timeframe for deposits and withdrawals
- the international presence in several counties
- the access to a multi-cultural customer support staff
Based on these features, we shared a comparison table to help you decide which the best trading broker is. We analyzed eToro compared to the top brokers that offer the best features and platforms for traders.
|Cell||eToro||IC Markets||Pepperstone||FxPrimus||AxiTrader||Swissquote||AvaTrade||ForexMart||Phoenix Markets||EZInvest||ETX Capital|
|Regulation||FCA, CySEC, ASIC, MiFID||ASIC, FSA, CySEC||ASIC, DFSA, FCA, SCB||CySEC, MiFID||FCA, ASIC, DFSA||FCA||FSA, FSB, BVI, ASIC||CySEC||CySEC||CySEC||FCA|
|Funding||Bank Transfer Credit Card PayPal||Bank Transfer Credit Card PayPal||Bank Transfer Credit Card PayPal||Bank Transfer Credit Card||Bank Transfer Credit Card||Bank Transfer Credit Card||Bank Transfer Credit Card PayPal||Bank Transfer Credit Card||Bank Transfer Credit Card||Credit Card||Bank Transfer Credit Card|
|Advantages||STP available Low Min. Deposit Negative Balance Protection||Scalping & Hedging Available Low Min. Deposit Negative Balance Protection||Scalping & Hedging Available STP Low Min. Deposit Negative Balance Protection||Scalping & Hedging Available STP Low Min. Deposit||Scalping & Hedging Available STP Low Min. Deposit||Scalping & Hedging Available||Scalping & Hedging Available Low Min. Deposit||Scalping & Hedging Available STP Low Min. Deposit Negative Balance Protection||Scalping Available STP||Scalping Available STP||Hedging Available Low Min. Deposit Guaranteed Stop Loss|
|Accounts||Demo Account Standard Account Islamic Account||Demo Account Mini Account Standard Account Zero Spread Account Raw Spread Account Islamic Account||Demo Account Mini Account Standard Account ECN Account Islamic Account||Demo Account Micro Account Mini Account Standard Account ECN Account Managed Account||Demo Account Micro Account Mini Account Standard Account ECN Account Islamic Account||Demo Account Mini Account Standard Account||Demo Account Micro Account Mini Account Standard Account Islamic Account||Demo Account Standard Account ECN Account Islamic Account||Demo Account Standard Account ECN Account Islamic Account||Demo Account Standard Account ECN Account Islamic Account||Demo Account Mini Account Micro Account Standard Account|
|Spreads||Var. Spreads||Var. Spreads||Var. Spreads||Var. Spreads||Var. Spreads||Fixed Spreads||Fixed & Var. Spreads||Var. Spreads||Fixed Spreads||Fixed Spreads||Fixed & Var. Spreads|
|Platforms||Mobile Apps||MT5 MT4 ZuluTrade Web Trader Mirror Trader cTrader MAC||MT5 MT4 Web Trader ZuluTrade Mac Mobile Apps||MT4 Mac Mirror Trader Web Trader Mobile Apps||MT4 MAC ZuluTrade Web Trader Mobile Apps||MT5 MT4 Web Trader ZuluTrade||MT4 Mirror Trader Mac ZuluTrade Web Trader Mobile Apps||Web Desktop MT4||Mac Android iPhone iPad MT4||Mac Android iPhone iPad MT4||MT4 Mirror Trader Max Binary Tablet Mobile Apps|
|Support||Live Chat Email Support||Email Support||Live Chat Email Support Phone Support||Live Chat Email Support Phone Support||Phone Support Email Support||Live Chat Email Support Phone Support||Live Chat Email Support Phone Support||Live Chat Email Support Phone Support||Live Chat Email Support Phone Support||Live Chat Email Support Phone Support||Phone Support Email Support|
|Excluded Countries||AN, VG, NI, PR, GT, HN, PY, US, SV, LB, AW, AI, AG, BS, BM, BB, FJ, GD, KZ, MV, MH, BT, MM, HT, TT, LK, UZ, TJ, TM, VI, SG, NP, WS, TW, BN, PK, CI, DJ, GM, LR, SL, TG, NA, SO, TN, RW, BW, ZM, UG, LY, TZ, GH, ET, ZW, SD, CD, GN, RS, MK, MD, AL, BY, IL, TR, SY, JP, CA, BE, KP, IR||NA, SN, GN, KG, KR, GH, AG, NG, GM, AO, NE, LR, BO, ML, CG, TZ, LY, CU, ZW, LR, CI, YE, LS, KH, TG, IQ, MM, SY, IR, BW, SL, GN, AF||US, JP, SY, IQ, IR, KR, BR||EC, JP, DZ, SY, AU, US, PR, SD, KR, MM, LY, IR, IQ, CU, CI, AF||JP, US||US||SG, CA, US, TR, NZ, KP, BR, BE||Cell||IL, SY, TR, LA, AF, YE, VU, UG, IQ, ET, BA, US, KP, JP, IR, CA, BE||IL, SY, TR, LA, AF, YE, VU, UG, IQ, ET, BA, US, KP, JP, IR, CA, BE||BE, SG, CA, US|
eToro Markets: Essential Factors To Consider
eToro can be a volatile market that can pose serious challenges, even for experienced traders. Besides the online educational resources, you can use several other tools to understand the unique benefits of eToro markets better.
Overall, eToro is considered an industry leader, thanks to its focus on innovation.
1. Track Record
The first thing you want to study when selecting a trading broker is its longevity or track record in the market. It is a crucial element in your trading strategy that can help you avoid significant financial loss. eToro is the leading copy trading broker with 12 years of experience on the market and headquarters in Cyprus and the United Kingdom.
eToro has several regulations, being supervised by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), the Financial Instruments Directive (MiFID), and the Australian Securities and Investments Commission (ASIC).
The main competitor of eToro is IC Markets. This broker was established in 2007, having a long track record and its main headquarters in Australia. IC Markets is monitored by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).
|Regulation||FCA, CySEC, ASIC, MiFID||ASIC, FSA, CySEC||ASIC, DFSA, FCA, SCB||CySEC, MiFID||FCA, ASIC, DFSA||FCA|
|Negative Balance Protection||Yes||Yes||Yes||No||No||No|
|Guaranteed Stop Los||No||No||No||No||No||No|
Another factor to consider when choosing a trading broker is whether it is at the forefront of innovation. eToro offers more than 1000 trading instruments, an online and mobile platform, and a user-friendly interface for all their services.
Beyond that, eToro supports several third-party trading platforms, allowing its clients to use distinct markets worldwide. Thanks to its innovation and ability to seek ways to keep their competitive advantage, it is a world-leader broker.
IC Markets, the main competitor of eToro, provides only 232 instruments and segregates clients’ funds according to law.
|Platforms||Mobile Apps||MT4 MT5 ZuluTrade MirrorTrade Web Trader cTrader Mac||MT4 MT5 ZuluTrade WebTrader cTrader Mac Mobile Apps||MT4 Mac Mirror Trader Web Trader Mobile Apps||MT4 ZuluTrade Mac WebTrader Mobile Apps||MT4 MT5 ZuluTrade WebTrader cTrader Mobile Apps|
|Excluded Countries||AN, VG, NI, PR, GT, HN, PY, US, SV, LB, AW, AI, AG, BS, BM, BB, FJ, GD, KZ, MV, MH, BT, MM, HT, TT, LK, UZ, TJ, TM, VI, SG, NP, WS, TW, BN, PK, CI, DJ, GM, LR, SL, TG, NA, SO, TN, RW, BW, ZM, UG, LY, TZ, GH, ET, ZW, SD, CD, GN, RS, MK, MD, AL, BY, IL, TR, SY, JP, CA, BE, KP, IR||NA, SN, GN, KG, KR, GH, AG, NG, GM, AO, NE, LR, BO, ML, CG, TZ, LY, CU, ZW, LR, CI, YE, LS, KH, TG, IQ, MM, SY, IR, BW, SL, GN, AF||US, JP, SY, IQ, IR, KR, BR||EC, JP, DZ, SY, AU, US, PR, SD, KR, MM, LY, IR, IQ, CU, CI, AF||JP, US||US|
|Major Forex Pairs||Yes||Yes||Yes||Yes||Yes||Yes|
|Exotic Forex Pairs||Yes||Yes||Yes||Yes||Yes||Yes|
3. Fees And Commissions
Trading fees and commissions must be transparent. The top-rated trading broker is eToro due to the competitive offers for commodities, stocks, CFDs, forex, indices, social trading, and cryptocurrency. This broker has a minimum deposit of $200.
Another leading trading broker is IC Markets because it offers CFDs, spread betting, forex, share dealing, and cryptocurrencies. IC Markets has a minimum deposit of $200.
4. Withdrawal And Funding
Convenient withdrawal and funding methods are fundamental for the best trading experience.
5. Customer Support
Customer support is essential when it comes to trading. Dealing with brokers and investing can often require several interactions with customer service. These interactions may take the form of training, installation, upgrading, troubleshooting, or even cancelation of service.
eToro offers reliable customer assistance via email, and live chat. This service is also available in several languages like English, Spanish, German, Italian, and French.
IC Markets is well recommended for its reliable customer support, available in English, Chinese, Japanese, Afrikaans, Polish, Dutch, Danish, German, and several other languages. You reach support by phone, email, or chat.
|Support||Live Chat Email Support||Email Support||Live Chat Email Support Phone Support||Live Chat Email Support Phone Support||Email Support Phone Support||Live Chat Email Support Phone Support|
|Languages||English German Spanish French Italian||English Japanese Chinese Polish Danish Dutch Afrikans German etc.||English Spanish Chinese Polish Japanese Vietnamese Korean Arabic||English Spanish Indonesian Vietnamese Thai Chinese Malaysian Hungarian||English Spanish German Chinese Japanese Russian Romanian Arabic||English Italian German French Spanish Russian Arabic Chinese|
Educational resources can help you gain in-depth knowledge about trading and hidden fees. Both eToro and IC Markets do their best to provide top insights and news to their clients.
So, before choosing a trading broker, you should check to see whether it offers access to comprehensive trading resources. These might include education, analysis, and risk-management tools.
A broker regulated by leading authorities comes with a lower risk. These regulations will protect clients and ensure the broker offers qualitative services. Also, the broker regulation will minimize fraud and financial harm.
|Funding||Bank Transfer Credit Card PayPal|
|Customer Support||Live Chat Email Support|
|Accounts||Standard Account VIP Account Islamic Account|
eToro compared to other brokers:
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.