eToro UK Clients

Are You From the UK? Here's What You Should Know About eToro

If you're a user of the eToro platform in the United Kingdom, here are some information you need to know regarding engaging in trading of stocks, indices, commodities, cryptocurrencies and more, in this particular country.

Table of Contents

  1. Tax in the UK: What You Need to Know
    What are the income taxes? (14sec)
  2. UK Corporate Tax
    What's the tax for corporate accounts? (9sec)
  3. The UK Capital Gains Tax
    How is it computed? (22sec)
  4. Is Trading with eToro Tax-free for UK Clients?
    Are there taxes for UK residents? (10sec)
  5. Taxes for Selling on eToro
    What's the tax for selling stocks? (27sec)
  6. eToro UK Ltd. Office
    Where is it located? (7sec)
  7. eToro UK Phone Number
    Is there a local hotline? (9sec)
  1. Minimum Deposit for UK Residents
    What's the lowest initial amount? (20sec)
  2. Fees for UK Clients
    What are the applicable charges? (27sec)
    1. 9.1 Withdrawal Fees for UK Traders
      What to pay when taking out money? (12sec)
  3. How to Display in UK Pounds (GBP)?
    Showing the local currency (28sec)
  4. Showing Stocks in the UK Only
    Hwo to display shares in the United Kingdom? (34sec)
  5. How to Trade the UK100 Index CFD?
    Investing on the FTSE 100 index (1min 4sec)
  6. Dormant Account of UK Users
    What happens to inactive accounts? (10sec)
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Tax in the UK: What You Need to Know

The United Kingdom sets an income tax ranging from 0% to 45%. The following are as follows:

 

eToro Profit UK Income Tax
£1 to £12,500 0%
£1,501 to £50,000 20%
£50,001 to £150,000 40%
Over £150,000 40%
Income tax table for eToro clients who are residents of the United Kingdom (UK)


Thinking already of opening an account?

If you're from the UK and are already interested to open an eToro account, you can easily do so by clicking the button below. This will redirect you to eToro's online registration page.


YES, OPEN AN ACCOUNT!

67% 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.

UK Corporate Tax

The United Kingdom imposes a 19% corporate tax. If you are a trader trading through a UK registered company, your corporate eToro account will have to pay a 19% tax.

The UK Capital Gains Tax

The computation for the UK capital gains tax is as follows:

For example:
If you buy a stock on eToro for £5,000 and sold it for £10,000. This would indicate that you must pay tax on a gain of £5,000.

Please note: The UK sets a free tax allowance for a gain up to £12,300. Capital gains tax rates imposed on financial assets for the year 2021 and 2022 is set from 10% to 20%.

Is Trading with eToro Tax-free for UK Clients?

No. UK imposes a Capital Gains Tax on all trading activities done within the United Kingdom jurisdiction. Read the section above “eToro and UK Capital Gains Tax”.

Taxes for Selling on eToro

As a UK-based investor using the eToro trading platform, you still need to follow UK tax regulations and laws. The tax for "Selling" stocks on eToro—as in most trading and other business activities done in the country—is called the "Capital Gains Tax".


Good news:

You are exempt from paying any Capital Gains Tax if your profit ranges from £1 to £12,300. Any amount over £12,300 is subjected to the Capital Gains Tax.

Also take note:
Capital gains tax rates imposes on financial assets for the year 2021 and 2022 is set from 10% to 20%.

eToro UK Ltd. Office

The eToro UK Ltd. office in the United Kingdom is located on the 24th floor, One Canada Square, Canary Wharf, London.


 

 

eToro UK Phone Number

The phone for eToro UK office isn't listed online. For any concern, you may contact the eToro Customer Service or Live Chat support at this link: https://www.etoro.com/customer-service

Minimum Deposit for UK Residents

The minimum deposit required for UK resident users of eToro is $50 with redeposits set at $50 as well. However, if you are making a deposit through a wire transfer, the minimum deposit is $500.

eToro deposit page for UK clients
eToro deposit page for UK clients

Making a deposit using the UK currency of GBP is not a problem as eToro will convert it to the USD currency with a small conversion fee.

Fees for UK Clients

The fees for UK residents is similar to almost every user from all over the world. When you trade CFDs, eToro will charge your account with an overnight fee every time you open a position after trading hours. If you keep a position open during the duration of the weekend, eToro will charge you for three nights or three overnight fees.

The overnight fees are calculated depending on the amount of leverage being utilized and it also depends on whether you are engaging in a buy or sell trade.

Withdrawal Fees for UK Traders

To cover expenses involved in making international money transfers, eToro charges a fixed withdrawal fee of $5 for any amount from the minimum withdrawal amount of $30. This rate also applies to traders based in the UK.

How to Display in UK Pounds (GBP)?

To make your eToro dashboard display the UK Pound currency instead of the default US Dollar, you need to set it in your profile settings. To do this just follow these simple steps:


  1. On your profile click "Settings" from the left side menu.
    eToro Settings screen
    eToro Settings screen
  2. Click "General".
    eToro "General" link on Settings screen
    eToro "General" link on Settings screen
  3. Click the drop-down button of the "Local Currency".
    eToro local currency setting
    eToro local currency setting
  4. Select "Pound Sterling (£).
    Changing the local currency to Pound Sterling on eToro's platform
    Changing the local currency to Pound Sterling on eToro's platform
  5. Go back to the main page/screen and see the platform in GBP currency.
    eToro platform with GBP currency
    eToro platform with GBP currency

Showing Stocks in the UK Only

To view the top performing and most followed stocks in the UK, you will only need to change a few settings on your eToro dashboard. Here are the simple steps:


  1. Click "Trade Markets" on the list under your profile.
    eToro Markets screen
    eToro Markets screen
  2. Click "Filter" found on the upper right of the screen.
    Filter link on eToro Markets screen
    "Filter" link on eToro Markets screen
  3. From the pop-up menu, select "Stocks".
    Clicking "Stocks" on eToro's Filter menu
    Clicking "Stocks" on eToro's Filter menu
  4. Select "Exchange".
    Clicking "Exchange" on eToro's Filter menu
    Clicking "Exchange" on eToro's Filter menu
  5. Choose "London" from the list of exchanges from all over the world.
    Clicking "London" on eToro's Filter menu
    Clicking "London" on eToro's Filter menu
  6. You will now be able to see all of the UK stocks that are available on eToro's platform.
    Tradable UK stocks on the eToro platform
    Tradable UK stocks on the eToro platform

How to Trade the UK100 Index CFD?

To view and trade on the UK100 indices on your eToro dashboard, simply follow these steps:


  1. Click "Trade Markets" on the list under your profile picture.
    eToro Markets screen
    eToro Markets screen
  2. Click on "Indices" from the list on top.
    "Indices" link on eToro Markets screen
    "Indices" link on eToro Markets screen
  3. Choose and Click the "+" sign beside the "UK 100" box from the list to add it to your "Watchlist".
    Adding UK100 to Watchlist of the eToro platform
    Adding UK100 to Watchlist of the eToro platform

To view the UK100 on the "Watchlist" section of your eToro dashboard simply follow these steps:


  1. Click "Watchlist" under your profile.
    Watchlist on the eToro platform
    Watchlist on the eToro platform
  2. Click the "Filter" icon on the upper right and select "Indices" from the list.
    Selecting "Indices" on the eToro Watchlist filter
    Selecting "Indices" on the eToro Watchlist filter
  3. Click on "UK100".
    UK100 listed on eToro Indices Watchlist
    UK100 listed on eToro Indices Watchlist

You will be taken to a page showing a feed of the latest updates on companies included in the UK100. There are menus for "Stats" and "Charts" as well as a "Trade" button taking you to a pop-up window to invest on the UK100.

UK100 page on eToro's platform
UK100 page on eToro's platform

For starters:
The UK100 or the Financial Times Stock Exchange 100 (also known as the FTSE 100, the UK 100 Spot Index and the slang term "Footsie") is a FTSE-managed stock index comprising of the top 100 companies listed on the London Stock Exchange, based on market cap size.

Dormant Account of UK Users

If your eToro account becomes dormant, meaning you have not accessed your trading account for 6 years, eToro UK will send the money in your account to a charity that they support.


Ready to open an eToro Account?

If you're ready to open an eToro account then just click this button and you'll be directed to the sign-up page. Accomplishing the online registration form will only take a few minutes to complete.


I'M READY TO OPEN AN ACCOUNT!


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. 67% 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.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

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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*67% 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.