How to get to your first trade at eToro?

Reading time: 6 minutes

Choosing eToro as your broker to do your first trade is a good idea, go for it. In this article, we are going to take you through all the steps necessary, from the registration all the way to setting up your first order. At eToro, opening an account is easy, and needs no prior knowledge. If you have opened an account anywhere on the internet before, you pretty much already know what to expect.

To give you a brief summary: eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC. eToro USA LCC does not offer CFDs, only real Crypto assets available.

THE ESSENCE:

  • Signing up just takes 15 minutes on average, while the approval of your account could take 1 day
  • You will need to prove your identity and residency with documents. Some examples:
    • Proof of identity: passport / personal ID
      Proof of residency: utility bill
  • eToro is a reliable broker regulated by a top-tier regulator
  • Visit eToro's site and start registering now!

First, let's see if eToro is available in your country?

Disclaimer: 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro USA LCC does not offer CFDs, only real Crypto assets available.

Visit broker
Your capital is at risk

eToro account opening
How to get a verified trading account at eToro?

First you need to fill a registration form to apply for an account. Your application needs time to be verified [1 day] after which you can deposit and start trading.

The journey at eToro

eToro account opening step-by-step guide

  1. Go to eToro's website to start the account opening process.
  2. Follow the account opening process: it is self-evident, but you might need help at some point. Don't worry, we cover the main issues here.

Which eToro account to choose?

If you want to explore the possibilities offered by this broker, you will need to choose an account type, and for that, you should consider how experienced you are in trading and investing.

We have more details about the available account types in our review for you to explore.

Visit broker
Your capital is at risk

Which base currency to choose?

eToro has 1 base currency available, which is USD.

You might have to pay a conversion fee if:

  • You trade with assets not in USD
  • You make a deposit in a different currency other than USD

Once you have filled the form, uploaded your documents, chose your account type, base currency and finished the trading survey, eToro will verify your account very shortly.

Why do I need to fill the trading experience survey?

It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have a basic financial knowledge and you are aware of the risks of trading.

Also don't worry if the broker asks questions about your financial background e.g. your available assets, salary range. This is also part of the risk assesment process - to make sure you don't take on investments and trades you can't afford.

eToro account opening
How to deposit and start trading at eToro?

To do your first trade, you have to fund your account. Generally, brokers offer a Bank transfer / ACH / Credit or debit card / E-wallet transfer solution.

This is where you stand at the account opening at eToro

Is there a minimum deposit at eToro?

Unfortunately, yes. At eToro, the minimum deposit amount is $10.

This means that you have to deposit at least $10 to be able to start trading.

However, if you feel like this service is not your cup of tea: no worries. After depositing, you can opt out and withdraw your funds anytime.

If you received your verification email, you are good to go to fund your account and start investing!

Here's how to start after funding your account:

  • First, check the products on the platform. You can also search for assets using its search tool,
  • Here, you'll see a list of assets by certain categories, like asset classes,
  • Click/tap on an asset to see its chart,
  • After this step, it is easy to specify the transaction size, order types, and terms.

Visit broker
Your capital is at risk

eToro account opening
Is eToro safe?

Yes, eToro can be considered a legit broker, as it is regulated by at least one top-tier regulator, which is a great sign for reliability.

For you, this means that your money is in good hands and you will most probably not become a victim of a scam by eToro.

Throughout the account opening process at eToro, you won't be required to pay anything to create your account. Also, you can close your account anytime you like.

Every time you are planning to dive into finances, make sure you know who you trust your money with. Make sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers on our site, meaning the broker's operations are overseen by a trusted body.

Visit broker
Your capital is at risk

eToro account opening
Wrap-up

You are awesome for having read through this article! Opening an account might seem cumbersome at first, but the best time to start dealing with your finances is always right now.

We want to help you along the way, so if you are stuck somewhere, have a question, or a suggestion, please drop us an email at [email protected].

Risk disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Disclaimer: 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider 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 highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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.

Author of this article

Bence András Rózsa

Author of this article

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Bence András Rózsa

Broker Analyst

Bence is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit eToro
Your capital is at risk

Share

Comments

×