eToro Account

Written by Mike Druttman

Fact checked by Wikitoro Team

Updated Mar, 2024

Introduction

Navigating the eToro trading app may seem straightforward, but there are numerous aspects to consider when managing your account. From the initial setup and verification process to understanding how to close your account, there's a lot to learn about effective account familiarization and management.

In this guide, I'll walk you through the various types and classifications of eToro accounts, offering insights and personal tips to help you maximize the benefits of your account.

Demo Account: Exploring with the Virtual Portfolio

For those who are new to trading or hesitant to start with real funds, the eToro demo account, known as the "Virtual Portfolio," is an ideal solution. This simulated trading environment is equipped with $100,000 in virtual funds, allowing you to practice and refine your trading strategies without the risk of financial loss.

I feel that this is an excellent resource for beginners to familiarize themselves with the platform and hone their trading skills in a risk-free setting before transitioning to real-money trading.

Accessing Your Account

To log into your eToro account, simply use your chosen login credentials:

1. Username or Email Address: You can log in using either your username or the email address registered with your account.
2. Password: Enter the unique password you set up for your account.

You can enter these credentials on any eToro login page, whether you're using their official website or mobile apps. The process is designed to be user-friendly and straightforward.

Islamic Account Option for Muslim Traders

eToro caters to Muslim traders by offering an Islamic trading account, which is distinct from standard trading accounts. Adhering to Sharia law, which prohibits the accumulation of interest or "Riba," this account type ensures no interest is paid or received.

What I find interesting with the eToro Islamic account is that it aligns with Islamic law's fundamental principles, providing a halal trading experience that respects these religious guidelines.

The eToro Club: Exclusive Benefits for Active Traders

The eToro Club is a unique loyalty program tailored to reward the platform's most active and dedicated traders. As you progress through its tiers, a range of exclusive perks becomes available, including reduced fees, invitations to special events, and personalized support services. The club is structured into five distinct tiers, each offering its own set of benefits.

1. Silver
2. Gold
3. Platinum
4. Platinum+
5. Diamond

Here's the deal: Joining the eToro Club is effortless. All you need is an active trading account and to meet the minimum equity requirements for the Silver tier. Once these criteria are met, you're automatically enrolled in the club.

Closing the Loop

In general, these are the essential aspects and functionalities of eToro accounts that I've experienced firsthand. Navigating through the various account types and their benefits is straightforward, even for those new to trading.

With this knowledge of the diverse account options and their respective advantages, you're well-equipped to optimize your trading journey with this broker.

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. 76% 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 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. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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.