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Practical Guide To eToro Withdrawing Process

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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 $50. You can withdraw your funds with more than one option: 

  • NETELLER 
  • PayPal 
  • Yandex 
  • Webmoney UK 
  • Skrill Limited United Kingdom 
  • Wire transfer 
  • MasterCard 
  • Visa 
  • Chinese Union salary 

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: 

  1. Access the left-hand menu and click on the ‘Withdraw Funds’ button 
  1. Select the withdrawal amount 
  1. Select the transfer method 
  1. 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: 

  1. Log in to your eToro account and click on ‘Withdraw Funds’ 
  2. It will open a pop-up message box, where you can see your withdrawal history under the Click Here hyperlink 
  3. Use the reverse button on the withdrawal you want to delete 
  4. 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 in 2020? 

  • 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 in 2020. We analyzed eToro compared to the top brokers in 2020 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

Min. Deposit

200

200

200

100 No 1000 250 1 500 500 100

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

Used By

12,000,000+

60,000+

10,000+ 10,000+ 10,000+ 300,000+ 200,000+ 10,000+ 10,000+ 10,000+ 10,000+

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

Web Trader

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

Risk

Up to 75% of retail investor accounts lose money when trading CFDs

Losses can be higher than deposits Up to 79.3% of retail investor accounts lose money when trading CFDs Losses can be higher than deposits Losses can be higher than deposits Losses can be higher than deposits Up to 79% of retail investor accounts lose money when trading CFDs Your capital is at risk Your capital is at risk Your capital is at risk Losses can be higher than deposits

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).    

Cell

eToro

IC Markets

Pepperstone

FxPrimus

AxiTrader

Swissquote

Regulation

FCA, CySEC, ASIC, MiFID ASIC, FSA, CySEC ASIC, DFSA, FCA, SCB CySEC, MiFID FCA, ASIC, DFSA FCA

Used By

12,000,000+

60,000+

10,000+ 10,000+ 10,000+ 300,000+

Risk

Up to 75% of retail investor accounts lose money when trading CFDs

Losses can be higher than deposits Up to 79.3% of retail investor accounts lose money when trading CFDs Losses can be higher than deposits Losses can be higher than deposits Losses can be higher than deposits

Negative Balance Protection

Yes Yes Yes No No No
Guaranteed Stop Los No No No No No No
Headquarters Cyprus

UK

Australia Australia Cyprus Australia Switzerland
Year Founded 2006 2007 2010 2009 2007 1999

#2 Industry    

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.    

Cell

eToro

IC Markets

Pepperstone

FxPrimus

AxiTrader

Swissquote

Instruments

2000 232 100 130 100 100

Platforms

Web Trader

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

Forex Pairs

50 65 70 45 100 150

Major Forex Pairs

Yes Yes Yes Yes Yes Yes

Exotic Forex Pairs

Yes Yes Yes Yes Yes Yes

Cryptocurrencies

Yes Yes Yes No Yes No

Commodities

0 19 16 0 20 7

Metals

Yes Yes Yes Yes Yes Yes

Energies

Yes Yes Yes Yes Yes Yes

Agricultural

Yes Yes No No Yes No

Stocks

957 100 60 60 1000 0

UK Shares

Yes No No Yes Yes Yes

US Shares

Yes Yes No Yes Yes Yes

German Shares

Yes Yes Yes No Yes Yes

Japanese Shares

Yes Yes No No 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.    

Cell

eToro

IC Markets

Pepperstone

FxPrimus

AxiTrader

Swissquote

Min. Deposit

200 200 200 100 0 1000

Withdrawal Fee

Yes

No

No Varies Varies No

Inactivity Fee

Yes

No Yes No No No

Deposit Fee

No Varies No Varies Varies No

CFD Commission

No Yes Yes No Yes No

#4 Withdrawal And Funding    

Convenient withdrawal and funding methods are fundamental for the best trading experience.    

Cell

eToro

IC Markets

Pepperstone

FxPrimus

AxiTrader

Swissquote

Bank Transfer

Yes Yes Yes Yes Yes Yes

Credit Cards

Yes

Yes

Yes Yes Yes Yes

PayPal

Yes

Yes Yes No No No

Skrill

Yes Yes Yes No No No

Payoneer

No No Yes Yes Yes Yes

Neteller

Yes Yes Yes Yes Yes No

#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 phone, 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.    

Both trading brokers let you reach support by phone, email, or chat.    

Cell

eToro

IC Markets

Pepperstone

FxPrimus

AxiTrader

Swissquote

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

Risk

Up to 75% of retail investor accounts lose money when trading CFDs

Losses can be higher than deposits Up to 79.3% of retail investor accounts lose money when trading CFDs Losses can be higher than deposits Losses can be higher than deposits Losses can be higher than deposits

#6 Resources    

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.

#7 Regulations    

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.    

eToro
Funding Bank Transfer

Credit Card

PayPal

Customer Support Live Chat

Email Support

Platforms Web Trader

Mobile Apps

Accounts Standard Account

VIP Account

Islamic Account

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. 75% 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.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

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.

eToro compared to other brokers:


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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