eToro Deposit

Introduction

Your initial deposit signals the beginning of your eToro trading journey.

Understanding the many intricacies of the deposit methods is an important first step to getting a clear grasp of the trading platform’s capabilities to indulge in CFD trading, selling and buying stock market shares and crypto-currency.

To begin with:
eToro's minimum deposit in most countries is $50 and $10 to $1000 for traders residing in some countries. For the succeeding deposits, the minimum will go down to $50.

To get you started, here are the things you must need to know about how to make a deposit to your eToro portfolio.

Why Do I Need to Make Deposit Before Trading?

Before you can begin opening a BUY or SELL position on eToro, similar to traditional trading, it is important to have an investment fund for you to use.

From your initial deposit, you can apply wise investment strategies in order to slowly grow it. As you quickly grasp the ins and outs of CFD trading on eToro, you can make additional deposits to invest in other stocks.

Deposit Currencies

The eToro trading platform mainly transacts in US Dollar. You can still deposit other currencies, and have it converted to the US dollar before you start trading.

Since the eToro trading platform operates in US dollar, a conversion fee is charged when converting local currency to USD.

Here's a screenshot of a local online banking deposit using Philippine peso:

Currently, here are the countries and their local currencies accepted by eToro for deposit.

What’s the Minimum Deposit?

When investing on forex, stocks and other instruments on the eToro app, the minimum deposit required for most countries is $50 while some countries a have lower requirement at $10 (UK and US). There are also a few countries that have a $1,000 minimum deposit (see category: Minimum Deposits in Other Countries below).

Take note: The first-time deposit shall serve as your initial brokerage fund needed to start trading on the platform. For your succeeding deposits, the minimum will be $50.

$10 for US, $50 for UK

The minimum first-time deposit for US is $10, while UK traders are required to make an initial deposit of at least $50. The succeeding deposit minimum for both countries is set to $50. For UK clients, the amount in GBP will be based on real-time exchange rates.

What About the Maximum Deposit?

The maximum deposit will depend on the mode of payment you are using. Please also take note that some payment methods can only be used on specific countries.

Remember: Depositing on eToro requires no deposit fee payment and that credit card, debit card and other online payments like PayPal is also available.

Supported Payment Methods

There are several methods to choose from when depositing a fund to your eToro account. These are:

• Credit/Debit cards
• Online banking
• Wire transfer
• PayPal
• Other online payment solutions

Credit Card Deposits

Deposit using your credit card Visa and Mastercard by simply choosing the Credit / Debit card option on the menu.

Afterward, simply enter your desired amount to be charged on your card and wait for the payment process which should last only a few seconds or minutes depending on the network speed.

When your deposit is successful, you will immediately read a confirmation message and see you deposit appearing on your Portfolio.

Deposits via Debit Cards

Debit cards are also accepted when making a deposit to your eToro account. Simply follow the same process of using a credit card by selecting the Credit / Debit card option and keying the amount you wish to deposit. The transaction will only take a short while before it appears on your Portfolio.

PayPal: Popular Payment Solution

Making a deposit using PayPal is also possible in eToro. Here’s how to do it:

1. On the eToro app or web-based platform, click on “Deposit Funds”
2. Key in your deposit amount and select PayPal from the mode of payment and click submit.
3. A portal taking you to PayPal's login page will appear. Log in using your PayPal details and you will see a payment window displaying the exchange rate of the US dollar to your local currency.
4. After clicking “Submit”, your deposited amount will immediately reflect in your Portfolio.

   

Rapid Transfer for Instant Deposits

For a faster and almost instant deposit, you can use Rapid Transfer.

Rapid Transfer is an online payment portal that supports more than 170 banks. This service is available in the countries of United Kingdom, Austria, Bulgaria, Estonia, France, Italy, Latvia, Norway, Netherlands, Spain, Portugal, Sweden, Poland, Finland, Germany, Belgium, Denmark and Hungary.

Currencies accepted on Rapid Transfer are in USD, EUR and GBP while the maximum deposit is set at $5,500.

How Secure and Safe is Depositing?

eToro uses a secured technology called SSL or the Secure Socket Layer technology that ensures the safety of all personal information.

The SSL is used by banks and online merchants in online sales and payment transactions all over the world.

Recurring Deposits

eToro supports automatic recurring deposits. However, to be eligible to use this feature, you will need to make at least one manual deposit with your credit or debit card. After that, you can easily set up recurring deposits on a daily, weekly, biweekly, or monthly basis.

This feature allows you to automatically deposit a fixed amount of money into your eToro account, making it a convenient way to keep your portfolio growing over time.

How to Make a Deposit with eToro?

Here are the basic steps on how to make a deposit on eToro:

1. Log in to your account.
2. Click "Deposit Funds" found on the lower left of your screen.
3. Enter your desired amount and choose your currency.

   

4. Select payment method (Credit/Debit Cards, PayPal, Wire, Online Banking etc.)
5. Click "Deposit" to confirm deposit transaction.
6. You will get a confirmation if the deposit has been process successfully.

   

Deposit Charges

eToro does not charge users a deposit fee. This means 100% of your deposited amount will be used for your trading. The only fees you will need to pay are from your local bank or any third-party payment system.

Frequently Asked Questions (FAQ)

Is there a minimum deposit amount required to open an account on eToro?
Technically, you don't need to make a deposit to open an eToro account. However, you'll need to make an initial deposit in order to have capital and use it for trading on the platform. The minimum deposit requirements vary per country and it can range from $10 to $10000.

Are there any fees or commissions associated with eToro deposits?
No, eToro won't charge you with any fees or commissions when you make a deposit. Some payment methods however may charge you for doing so, which is why it's important to check with your payment service provider for any possible fees.

Is eToro deposit safe and secure?
Yes, eToro deposit is generally considered safe and secure. They are a regulated broker and authorized by financial regulatory authorities in multiple jurisdictions, including the UK, Australia, and Cyprus. They also uses SSL encryption technology to protect customer data and employs advanced security measures to ensure that all transactions are secure.

How do I make an eToro deposit from my mobile device?
The process of making an eToro deposit from a mobile device is very much the same as doing it on a web browser. To make a deposit from your mobile device, simply open the eToro app, click on the "Deposit Funds" button, and follow the instructions on the screen.

What should I do if my eToro deposit is not showing up in my account?
If your deposit is still not showing up in your account after a reasonable amount of time, you should contact eToro's customer support department. You can do this by submitting a support ticket through the platform or by reaching out to them via live chat or phone. They will be able to investigate the issue and provide you with further assistance.

Can I deposit funds into my eToro account using someone else's payment method?
No, eToro requires that all deposits are made from payment methods that are in the same name as the eToro account holder. This means that you cannot deposit funds into your account using someone else's payment method, even if you have their permission to do so. This is a security measure that helps prevent fraudulent activities, such as money laundering and identity theft.

Is it possible to cancel an eToro deposit?
To cancel an eToro deposit, contact customer service immediately as deposits cannot be canceled within the app once processed. Deposits can only be canceled before 2:30 pm ET on the day they are processed. Withdrawals of ACH deposits must follow a 6 business day hold.

Are there any bonuses or promotions available for eToro deposits?
eToro does not offer any bonuses or promotions for deposits made, as this is not allowed due to regulatory compliance. As a regulated broker, eToro must comply with strict regulations that prohibit them from offering such incentives.