At the top of the eToro site, a warning for traders is fixed in the form of a header. It states that CFDs are financially complex instruments that carry the risk of losing money when leverage is activated. 75% of retail clients of the eToro broker lose their investment when trading CFDs with this provider. You must decide how well you understand the specifics of conducting financial transactions with CFDs, and whether you are ready to take on a tangible risk of losing funds.
eToro Basics
The most accurate and up-to-date data regarding the work in the financial markets can always be obtained from eToro on the official website.
At the very beginning, you need to choose a product for investment:
- Stocks and ETF funds are available with zero commission.
- Cryptocurrencies can be bought, sold or kept.
- Trading contracts for differences with eToro involves opening long and short positions in currencies, stock indices and products with flexible leverage.
Traders are invited to explore the possibilities of cryptocurrency market , which is constantly expanding. You can create your own investment portfolio and enjoy almost instant order execution.
The company tells about itself such facts that contribute to increasing eToro’s rating. For example:
- CySec and FCA regulation are cited as reliability factors. The broker calls itself a reputable company.
- Security Metrics is the protection of finances through advanced and reliable protocols.
- For privacy, eToro will never release user data without permission from the owner.
Information on withdrawals and deposits
You can withdraw money from your account when you need it. The only condition is that the amount must correspond to the money on the account, excluding the involved margin security. Applicable: credit card, bank transfer, payment system.
The withdrawal request is processed within 1 business day. The longest payment will have to wait up to 8 working days. In other cases, the task is completed in 1-2 business days. Interestingly, the withdrawal request can be canceled by the client.
The minimum amount you can withdraw is $ 30. Your account must be verified. Successful completion of this process is indicated by a green mark. It means that you have provided all the required documents.
eToro has a fee for withdrawing funds. If you withdraw funds not in USD, but in another currency, then you will have to pay additional funds for converting the currency. Additionally, the commission can be charged by banks, payment systems or the issuer of a plastic card.
You can find out that your funds are transferred, and what specific details are, you can from the broker’s letter received to your e-mail address. An alternative option is to visit the “Portfolio” tab, and then – the tabs of the history of transactions. This will tell you the status of your request. Similar situations can be found in eToro reviews.
If all the deadlines have passed, and the money for the details has not been transferred, the broker will ask you for an account statement in a particular payment system. It should contain information about debits and receipts on your account – for the period that passed from the moment when the processing of the request was completed and until the time when you, as a user, turned to the broker. The statement must contain your name, dates of transactions and details for making payments.
As for the methods of depositing money, there are restrictions on the maximum amount of replenishment. Plastic cards, payment systems, bank transfer, internet banking are used. The requirements for the minimum deposit are interesting. They range from $ 50 to $ 10,000. The specific amount of the contribution depends on the country and the requirements of the month.
