Since 2006, eToro has been working towards the same goal: to make investment trading available to a wide audience by changing the operation of the market to better accommodate ease of access. In that time, eToro has managed to accomplish this goal, spreading to over 170 countries, with a growing count of more than 5 million users. Part of this increased market accessibility is made possible by the eToro fee structure, which manages the compromise of being both fair and competitive.
Accessibility is the foundation that eToro is built upon, but part of that accessibility also means getting the most bang for your buck. On paper (or computer screen, as the case often is, in digital trading) eToro fees are not always the cheapest on the market. However, cheap isn’t always necessarily better. While the face-value fees are not the lowest available, eToro fees are largely all inclusive, and they strive to offer complete transparency in their account charges. For this reason, customers will never see charges for “eToro trading fees” or “eToro commission”.
As is the case for most companies mentioned in a typical stockbroker comparison, eToro’s profits are generated in spreads, and this is where customers see the highest fees, relatively speaking. By offering a slightly wider spread, eToro is able to avoid having to compensate themselves through commissions and trading fees. This means that the spread is subject to only the base fees at the closing of a position, making it easy to see exactly what you get with each trade, without any nasty last-minute surprises. The only extra fee eToro charges in active trading is the overnight fee, also referred to as the swap or rollover rate, to counterbalance the extra charge of holding a trade open overnight.
On their website, eToro has a handy step-by-step guide on how to withdraw funds from your account. In order to facilitate this transaction, you must first ensure that you have freed up some of the funds in your account by closing active positions. Once that is complete, the invested amount profit (or, as the case may be, loss) is sent back to your available balance for withdrawal. From there, you can enter the USD amount that you would like to take out, completing the electronic withdrawal form to confirm your consent of the withdrawal. A simple click of the “Submit” button, and you’re done. However, there are some guidelines to keep in mind, which eToro has set out for withdrawals: first, that the minimum amount to withdraw at any one time is $50 for any verified account, and second, that each of these transactions may be subject to the eToro withdrawal fees of $25 in order to accommodate the cost of processing the request. The eToro withdrawal fees will always appear in the Cashier after you enter the withdrawal amount, so that there are never any surprises. If you choose to stop your withdrawal request, the eToro withdrawal fees will be reversed and returned to your account so that you are never penalized for changing your mind. The motivation behind trading is to make a profit, so eToro customers need to be confident in the process of withdrawing their hard-earned investments.
At eToro, they hope that every transaction that you undertake goes smoothly, but they also know that things happen. This is why eToro has several measures in place that help assure peace of mind for every kind of transaction at every step of your journey. For instance, to ensure that your withdrawal request is completed fully, an email notification will be sent as confirmation, along with the details of the payment provider that you indicated in your withdrawal request. This information is also always included in the history tab of your Portfolio, which shows all activity of this kind that occurs within your account. These extra steps for verification mean that peace of mind can be supplied through checking and double-checking that your withdrawal transactions are always as smooth as possible. In the event that a customer is not satisfied with these measures, either because they were ineffective, or for any other reason, the customer support team is ready to help make things right. The services that make
eToro feel secure every step of the way are an integral part of the experience, and for that reason, the “price” of having peace of mind is always included in the eToro fees – because being competitive means providing continuing support that carries on beyond your initial investment, to support you throughout your time with eToro.
The private data that you provide to eToro is guaranteed to be secured confidentially, and eToro knows that for clients to put their trust in them, they have to prove they are worthy of this trust through demonstrated dependability. Our eToro review revealed that the company offers secure, easy-to-use service that defines the eToro experience. As a global Fintech leader since 2007, eToro has the support of both industry professionals and satisfied clients to sing the praises of the platform. One of the aspects that makes the industry leader successful, beyond the effectiveness of their tools and the accessibility they are able to offer, is the host of services that go along with them:
Customer support for eToro is available 24 hours per day, Monday through Friday, for both phone and email service, the latter boasting an average 48-hour response time. Personalized, digital customer service is available and can be easily accessed through the button on the eToro customer service page. Whether you prefer self-guided assistance via forum, online guide and knowledge support, or contact with an eToro professional, there are all manner of resources to help you find answers to any questions, in the way that works best for you.
eToro users are able to meet their trading needs through an easy-to-use platform that allows them access to trading in several markets, including currencies, CFDs and commodities, and even growing trends such as cryptocurrencies. A global client base is part of what makes the global marketplace available, which is why eToro works to practically accommodate all clients interested in the eToro platform. Making deposits with eToro is easy because funds can be added from a range of methods, including:
The comprehensive list of payment methods and limitations is listed on the eToro website, and the deposit process offers easy guidance to help make deposits quickly and securely. In addition, with the mobile app option, trading becomes even more accessible by allowing you to monitor and engage in your trades from your phone as well as the desktop application of the platform, so that users can access eToro services from all types of devices. We’ve already discussed the emphasis eToro puts on revealing the whole package in regard to the comprehensiveness of the spread when it comes to eToro fees. This same principle carries over to the eToro perspective on market access – that customers should be provided with the proper tools to access the most comprehensive market selection possible, while maintaining the smooth simplicity of their highly functional platform.
One of the concerns that has been raised about eToro is that people fear that they won’t be able to take their money back out after they’ve invested, and that’s just not true. If that were the case, eToro would have been hard pressed to maintain their initial investors, never mind grow to the millions of clients that they enjoy serving today. We’ve already clarified in the discussion above the withdrawal fees that eToro charges, which are used to facilitate withdrawal requests. Perhaps, then, this rumour of problems arises from the fact that eToro does sometimes require up to eight working days in order to fully process a money withdrawal, depending on the selected payment provider. The reason eToro allows themselves a longer amount of time to process withdrawals is because it allows them to guarantee the security of the transaction, which is one of the many qualities that puts them in the running for best stockbroker year after year. Should a client ever encounter issues with their account, eToro is always ready and willing to look into the problem and find satisfactory solutions. While eToro enjoys increasing the number of new investors on their platform, the retention of their existing and steadily growing customer base is also very important, so eToro makes it as easy to troubleshoot any issues that you may encounter as it is to get an account started.
Having already detailed the basic fee structure and withdrawal fees that eToro uses, there is one more basic fee that eToro charges in accordance with their terms of service – the inactivity fee. The terms of “inactivity” are defined as 12 months without login for depositing accounts and four months without login for non-depositing. In the case of an inactive account, $5USD will be charged from a positive balance within the account, provided there are available funds to be drawn from. That being said, eToro will never close open positions in order to cover this fee. Also, the moment the account becomes active again, the fee is discontinued, so an account owner need only log back into the account in order to jog it back into re-activation. Some guides that detail industry-leading broker comparisons indicate that there are other companies on the market that do not impose some of the fees that eToro charges. However, some other brokers are not as clear in advertising the complete details of their fee structures. eToro prides itself on being upfront, because they never want customers to be hit with surprises such as hidden fees. By offering transparency as an integral component of their fees, eToro continues to remain both balanced and competitive. In offering their customers the most accessible and competitively affordable platform on the market, eToro is confident that they can hold their own in stockbroker comparison against any other service provider.
While there are cheaper offerings when it comes to broker fees on the contemporary market, the trade-off of cost-cutting can sometimes manifest as surprise commission or other trading fees. With eToro, the entire base fee is bundled into the spread, so you never have to wonder what the actual cost is – it’s always clear, every single time you close a position. Moreover, because eToro is upfront and transparent about their overnight and withdrawal fees, nothing is ever hidden, confirming that eToro strives to make sure all its users are able to make informed and useful decisions when it comes to trading on the eToro platform. The level of security that eToro is able to provide helps users feel secure, and eToro goes the extra mile when it comes to things like providing a variety of access points for customer service so users can always solve queries that naturally arise throughout any experience. Customers who choose eToro know that the services their fees pay for extend beyond the processing costs – they are paying for peace of mind, security and no-nonsense support so that they can know with practical assurance that eToro is a trustworthy investment for their money.