eToro Withdrawal Guide

Introduction

Cashing out from eToro can only be done straight from their platform and only requires a few steps to follow.

While the withdrawal process is pretty straightforward, it is important for you to be aware of all the policies and conditions so you may be able to take out the money from your account and have it successfully processed.

So how does eToro handle withdrawal requests? Here's a detailed eToro full review where you can see the results.

When Can You Withdraw?

There’s no specific time or period for withdrawing the funds from eToro. Verified clients can cash out from their account any time of the day.

Taking Money Out on Non-Business Days

Processing withdrawals are only done on a working day which is Monday to Friday. If it falls within a public or bank holiday, it is considered as a non-working day.

The cut-off time for a withdrawals on business day is 11:00 am Eastern European Time. All requests done on a non-working day or after the cutoff time will be processed on the next business day.

Supported Withdrawal Methods

eToro will transfer the withdrawn amount back to the original payment method that was used to fund the account. If you used several payment methods, they will transfer the funds to these methods based on the following priority:

1. Credit card
2. PayPal
3. Bank transfer

Remember:
It doesn’t matter if you used PayPal or bank transfer prior to your credit card for making a deposit. They will still send the funds first to your credit card when you take your money out.

Credit Card

The first credit card that you used to fund your account will also be the card where the money can be transferred to. Also keep in mind that you will get the money not as cash but rather as a form of credit card refund. It's also important that the card is only under your name and not a joint account.

PayPal

You will only be allowed to withdraw funds and transfer it to your PayPal account if you have used this specific payment method to add money into your eToro account.

Bank Transfer

If you choose this payment gateway, you will need to provide eToro your complete account details and the ABA (must be Fedwire eligible) routing number. Make sure that these details are correct to avoid delays or issues.

Fees You Have to Pay

So how much does eToro charge to withdraw? When you cash out, each request will incur a $5 fee to process it.

Reminder: No matter how much you want to withdraw, the charge will always be the same per transaction. If you want to take out $30 or $1000 from your account, the fee remains at $5.

In addition:
If the withdrawn amount is not in the US dollar currency, it will incur a fee for conversion. The payment provider that will be handling the transfer may also impose a charge.

So How to Withdraw Money?

To cash out from your eToro account, here are the steps to follow:

1. Open the trading platform and go to the “Withdraw Funds” menu. This will open a pop-up.

   

2. Enter the amount that you wish to withdraw and click on the “Submit” button..

   

3. You will be getting a few notices such as missing out on other opportunities or losing the eligibility of your benefits. If this doesn’t concern you, click on the “Continue” button. Otherwise, click the “Cancel Withdraw” button.

   

4. You will be asked for the reason for making a withdrawal request. The options are the following:

   • Withdrawing profits
   • Need money for personal reasons
   • Have not achieved your trading goals
   • Platform does not meet your needs
   • Not satisfied with the trading conditions
   • Moving to a competitor
   • None of the reasons listed

   Choose the most applicable reason and then click on the “Continue” button.

   

5. You will be notified that your withdrawal will be processed via one of the previous payment methods that you previously used to fund your account. Click on the “Submit Request” button.

   

   Take note: You might be asked to provide an alternative payment method where you want to withdraw your money in case they will be unable to send the full amount you requested to your primary withdrawal methods.
   
   
6. You will then get a confirmation that your request has been submitted and the time it would take for it to be processed. It will also show the actual amount that you will receive after the $5 withdrawal fee and other applicable fees if any.

Processing Time: How Long to Withdraw the Funds?

Wondering how long it would take to withdraw your money from eToro?

It’s important to remember:
The withdrawal processing time and the time it would take to receive your funds are different. The processing of withdrawals are handled by eToro while the time for receiving your funds is already in the hands of the payment service provider.

Processing of Withdrawal Request

Once a withdrawal request has been submitted and all the necessary details were also provided, it usually takes just 1 working day to get them processed.

Actually Receiving the Funds

The time it would take for the funds to reflect on the account is based on the payment method that was used.

Cancelling the Request

Filed a withdrawal but then you decided to cancel this request? You can still revoke this action as long as it is not yet in process. You can see your withdrawal status on your account’s withdrawal history.

Here are the steps to follow:

1. Open the trading platform and go to the “Withdraw Funds” menu. This will open a pop-up notification.
2. Click on the “Click Here” link to access the withdrawal history.
3. Look for the specific withdrawal request that you’d like to cancel and click on the “Reverse” button. A confirmation message will appear.
4. Click on “Confirm” to proceed.
5. The account balance will instantly reflect the withdrawn funds and the associated fees.

Withdrawing Crypto from eToro

If you have traded cryptocurrencies (Bitcoin, Ethereum, Ripple, etc.) on the eToro platform and would like to withdraw it, you can do so by transferring it from the platform then to the eToro Wallet. At this point, you can transfer the crypto from the wallet to an external wallet.

Keep in mind: Your trading account login details (username and password) are the same for the eToro Wallet service so when you're going to access the wallet for the first time then you will need to use the exact credentials.

Follow these basic steps if you want to transfer your crypto trades to the wallet:

1. Go to your trading portfolio.

   

2. Choose the specific cryptoasset that you wish to transfer.

   

3. If you have multiple open positions for an asset then you will see detailed list of all these positions. Choose the particular crypto position that you wish to transfer.

   

4. An "Edit Trade" pop-up window will appear. Click on "Transfer to Wallet". Then, a "Transfer Coins" window will display the transfer details.

   

5. To execute the withdrawal to the wallet, click on the "Transfer" button.

   

Now that the crypto has finally been transferred to your wallet, you can now withdraw it to an external wallet of your choice.

Withdrawal Policy

eToro’s withdrawal policies and fees are included in their Terms and Conditions page. The terms are different for each country like UK and Australia, or region such as Europe, so be sure to read the one that is applicable for you.