Introduction
eToro serves numerous countries worldwide, Spain being one of them. For Spanish investors thinking about using eToro as their trading platform, it's crucial to gather some fundamental insights prior to signing up and diving into trading. This guide offers an exhaustive compilation of information, custom-made for those residing in Spain and looking to explore investment possibilities with eToro.
| 🇪🇸 Accepts Spanish Traders | Yes |
| 💰 Minimum Deposit | $50 |
| 🛍️ Market Types | Stocks, Crypto, ETFs |
| 🏛️ Regulation | Cyprus Securities Exchange Commission (CySEC) |
If you're in Spain and drawn to eToro trading, begin your investment journey by registering here right now!
Is eToro Regulated in Spain?
eToro welcomes traders from Spain under the supervision of eToro (Europe) Ltd., a financial enterprise regulated by the Cyprus Securities Exchange Commission (CySEC) under the license #109/10. This licensure allows eToro to operate not only in Spain but also in various European countries, including Finland.
Regardless of your residence, be it Madrid, Comunidad Valenciana, Extremadura, Galicia, Cantabria, Andalucía, Canarias, Aragón, Asturias, Castilla La Mancha, Cataluña, Islas Baleares, La Rioja, País Vasco, or any other region in Spain, as long as you're of legal age, you're eligible to set up an account and initiate trading with this platform.
Does eToro Have an Office in Spain?
While eToro does not have a brick-and-mortar office in Spain, it doesn't limit their capability to cater to Spanish residents. The functioning headquarters for eToro (Europe) Ltd. is strategically located in Cyprus at the subsequent address:
eToro (Europe) Ltd.
4 Profiti Ilia Str., Kanika Business Centre
7th floor, Germasogeia, 4046
Limassol, Cyprus
 Ltd, address on Google Maps.jpg)
Keen on embarking on your eToro trading experience? If you're a Spain resident, you can initiate it immediately
eToro Spain Phone Number
At present, eToro doesn't offer a specific local phone line for its clients in Spain. However, multiple communication methods are in place to reach their customer service department:
- Support ticket: After signing into your account, you can open a support case using your registered email address.
Opening a new ticket with eToro - Live chat: Available only on weekdays, this service provides real-time assistance 24/5.
eToro live chat - Email: Directly compose a message from your email account and send it to [email protected] without the need to access any contact form.
The first two contact points can be located either on the Customer Service Center page or by navigating to the following URL: etoro.com/customer-service.
Platform
The eToro platform can be reached through a web browser or via their app, which is compatible with both Android and iOS (iPhone or iPad) devices. Regardless of the chosen platform, all features are readily available, and all trading operations can be performed seamlessly.
An added benefit is the option to configure the platform language to Spanish, providing a more comfortable user experience for native speakers. To modify the language settings, simply navigate to the Settings and select the General sub-menu. From this menu, you'll encounter an option to select your preferred language, including Spanish or Español.
Deposit Options for Spain Residents
Investors residing in Spain have the opportunity to top up their eToro accounts using the following funding options:
- Credit/debit cards
- Regular bank transfer
- PayPal (can only be used after your 1st deposit)
This broker carries out all transactions in USD. As a result, any deposit made in EUR will be automatically converted to USD, attracting a nominal currency conversion charge.
Minimum Deposit for ES Residents
To begin trading, an initial deposit is mandatory in your account, which currently stands at $50 (approximately €47). However, if you choose to use standard bank transfers, the minimum deposit requirement is set at $500.
Fees for Spain Clients
The fee structure eToro applies to Spain residents is uniform with that of other nationalities. For instance, if your account has become inactive for a year, then it will be charged with an inactivity fee of $10 per month. This rate remains consistent, irrespective of your country of residence.
Withdrawal Fees for Spain Traders
The lowest amount that can be withdrawn from your account stands at $30. Each withdrawal incurs a $5 fee, which is a fixed charge regardless of the withdrawal sum. Thus, whether you opt to withdraw $30, $100, or $500, the standard fee of $5 per transaction still applies.
Trading Spanish Stocks on eToro
eToro features an array of leading Spanish firms from diverse sectors such as financial services, telecommunications, mining, consumer goods, and real estate. The platform hosts approximately 40 stocks listed on the Bolsa de Madrid, which includes the following companies:
- Iberdrola (IBE.MC)
- Acciona (ANA.MC)
- ArcelorMittal (MTS.MC)
- Banco Santander SA (SAN.MC)
- Repsol (REP.MC)
- BBVA (BBVA.MC)
- Banco Sabadell (SAB.MC)
- Industria de Diseno Textil SA (ITX.MC)
- Amadeus IT Hold A (AMS.MC)
- ACS (ACS.MC)
- Laboratorios Almirall SA (ALM.MC)
- Aena SME (AENA.MC)
- Enagas (ENG.MC)
- Endesa (ELE.MC)
- Grifols SA (GRF.MC)
- Pharma Mar SA (PHM.MC)
- Acerinox SA (ACX.MC)
- Ence Energia Y Celulosa SA (ENC.MC)
- Ferrovial SE (FER.MC)
- Viscofan SA (VIS.MC)
- Unicaja Banco SA (UNI.MC)
- Formento de Construcciones (FCC.MC)
- Sacyr (SCYR.MC)
Spain Stocks - Did You Know?
All stocks featured on the Bolsa De Madrid (IBEX) bear an .MC suffix in their symbols. This identifier aids you in distinguishing Spanish stocks when operating on the eToro platform.
Registration for ES Residents
The registration process for Spanish residents is similar to that for traders from other countries. Initially, you'll need to set your preferred username, email, and password.
It's obligatory to agree to the financial terms, disclosure statement, and services guide of eToro Europe Ltd. As this is the organization regulated by CySEC and permitted to serve traders in your area, it's crucial to verify that this is the operator you are seeing on the registration page.
Top eToro Spanish Traders
Currently, some of the most notable Spanish traders engaged in the eToro Popular Investor program are listed below. These traders sustain a risk score of between 4-5, with the most experienced trader participating since 2017.
| Trader | Username | Popular Investor Level |
|---|---|---|
| José Ángel Zabalegui Labarta | @analisisciclico | Elite ★ |
| Carlos Collantes Rivero | @calintrading | Champion ★ |
| Roberto Chamorro Gilaberte | @robchamow | Champion ★ |
| David Ariz-Navarreta Matres | @mercifulknight | Champion ★ |
Below, a performance comparison graph from 2019 to 2022 for these traders is presented. However, remember that some of these traders only started their trading voyages one or two years ago, so their performance graphs for 2019 and 2020 might not be available.
Begin your eToro journey today and find inspiration from these leading Spanish traders on the platform.
eToro Spain Stats
The latest data from eToro's Q4 2022 Investor Update (March 2023) reveals that the platform had 2.8 million funded accounts. It's noteworthy that 71% of these accounts were established in the UK and Europe, a region that includes Spain, as recorded on December 31, 2022.
Frequently Asked Questions (FAQ)
Can residents of Spain use eToro for trading?
Yes, individuals residing in Spain can utilize eToro for their trading needs. eToro operates as a worldwide online trading platform accessible in numerous countries, Spain being one of them. Spanish investors can register for an account with this broker and initiate trading in a wide spectrum of assets.
What are the fees on eToro for traders in Spain?
As with other nations, eToro maintains a uniform fee structure for its services, encompassing trading fees, withdrawal fees, conversion fees, and inactivity fees. For instance, eToro levies a standard $5 fee for each withdrawal, a policy that applies regardless of the user's country of origin.
How do I open an eToro account if I am from Spain?
Follow the steps below to register for an account with eToro:
- Visit the eToro website at www.etoro.com and select the "Join Now" button.
- Establish a unique username and password for your eToro account and input your email address.
- Authenticate your email address by selecting the verification link dispatched to your email by eToro.
- Fill out the eToro application form by supplying supplementary information, including your residential address and date of birth.
- Upload an image of your government-issued identification to validate your account.
It's crucial to acknowledge that eToro might request further documentation or information to confirm your identity or to adhere to regulatory standards. Also, ensure that you comprehend and accept eToro's terms and conditions prior to account creation.
What documents do I need to verify my eToro account in Spain?
For account verification with eToro in Spain, you'll need to submit specific documents:
- A valid government-issued ID, like a passport or driver's license.
- A document (like a utility bill or bank statement) indicating your name and address.
- If depositing funds via credit/debit card or e-wallet, a copy of the card or e-
- wallet screenshot may be required.
- A selfie possibly holding your ID or a paper with a unique code or message.
This process might take a few days. eToro may require additional documentation, ensuring it is clear and corresponds with your eToro account data.
What can I trade on eToro if I am from Spain?
As an eToro trader based in Spain, you can explore a diverse array of investment instruments. This includes stocks, cryptocurrencies and exchange-traded funds (ETFs). The platform puts forth an expansive selection of over 3000 distinct assets available for your investment and trading activities.
Does eToro offer demo accounts in Spain?
Yes, after successfully setting up a live account, Spanish traders are also granted access to a complimentary demo account for practice purposes.
How can I find successful Spanish traders to copy on eToro?
If you aim to mirror the strategies of successful eToro traders based in Spain, you'll have to utilize the platform's CopyTrader function. Refine the search parameters to display solely Spain-based individuals. You could also adjust factors like trading style, performance history, risk score, among others to identify traders that align with your investment preferences.
What trading platforms does eToro offer in Spain?
Spanish traders can access all eToro trading platforms. This includes the web-based platform compatible with various web browsers, along with the mobile application available for installation on both Android and iOS-powered devices.