All you need to know about withdrawal on eToro
Reading time: 4 minutes
Being able to access your money is one of the top priorities when it comes to choosing a broker. Here, we will show you the withdrawal options, possible fees, how fast you can access your funds, and why eToro is a reliable broker, where you can withdraw your money without safety concerns.
Withdrawal at eToro is not the most user-friendly, according to our analysis. In any case, there are some issues, such as currency and closing positions, you have to pay attention to.
To give you a brief summary: eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK's FCA and Australia's ASIC. eToro USA LCC does not offer CFDs, only real crypto assets are available.
THE ESSENCE:
- eToro charges $5 for withdrawal
- The withdrawal process is usually executed within 2 days
- eToro is a reliable broker, regulated by at least one top-tier regulator
- You can only withdraw funds to accounts in your name
First, let's see if eToro is available in your country?
Disclaimer: 77% 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.
How to withdraw money from eToro
Is eToro safe?
To trust your money with a broker, you need to be sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers, meaning the broker's operations are overseen by a trusted body.
eToro can be considered a legit broker as it is overseen 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 be able to withdraw your funds.
How to withdraw money from eToro
What withdrawal methods are available at eToro?
At eToro, you have multiple options to choose from when you would like to withdraw money. These options are the following: Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL.
Remember, you can only withdraw funds to accounts that are in your name.
| Withdrawal options | eToro |
|---|---|
| Bank transfer | Yes |
| Credit/Debit card | Yes |
| Electronic wallet | Yes |
How to withdraw money from eToro
How long does it take to withdraw from eToro?
Withdrawing your funds from a brokerage account is a bit different than withdrawing money from, let's say, a bank account. Unlike some deposit options, withdrawal is rarely instant.
Keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal.
At eToro, the withdrawal process is usually executed within 2 days.
How to withdraw money from eToro
What are the withdrawal fees at eToro?
eToro has a $5 withdrawal fee.
| Withdrawal option | Withdrawal fees |
|---|---|
| Credit/Debit card | $5 |
| Domestic bank withdrawal | $5.0 |
| International bank withdrawal | $5.0 |
| Electronic wallet | PayPal withdrawal costs $5 |
Conversion fees
Pay attention that if your eToro account's base currency and bank account's currency differ, you might be charged a conversion fee depending on your personal bank.
At eToro, the only available currency is USD. This means that if you withdraw money to your account in any other currency than USD, you will be charged a conversion fee.
To avoid high conversion fees, consider opening a multi-currency account at a digital bank.
How to withdraw money from eToro
What to keep in mind when withdrawing from eToro?
Withdrawing your funds from a brokerage account is a bit different than withdrawing money from, let's say, a bank account. Unlike some deposit options, withdrawal is rarely instant.
Keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal.
How to withdraw money from eToro
Wrap-up
You are awesome for having read through this article! Making sure you can access your funds might seem overwhelming at first, but the best time to start dealing with your finances is always right now.
You're doing great! Navigating through the world of brokerages is hard, and we want to help you along the way. If you are stuck somewhere, have a question, or a suggestion, please drop us an email.
Risk disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Disclaimer: 77% 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 does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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.
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