Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
You’ve made some successful trades on eToro, and now you want to withdraw those hard-earned gains into your bank account. In this guide, we’re going to show you the easiest ways to withdraw money from eToro and answer some frequently asked questions.
In this article we will look at:
In order to withdraw funds from eToro, you'll need to put in a withdrawal request. You can do this by following the five simple steps below:
1. In your eToro account, click on Withdraw Funds located on the side menu
2. A pop-up window will appear showing your total and withdrawable funds balance
3. Input your desired withdrawal amount (note the $5 withdrawal fee) & click ‘submit'
4. Specify a withdrawal reason and click ‘continue'
5. Choose your withdrawal method and click ‘submit' and you're done!
You can withdraw money from your eToro account at any time up to the value of the balance of your account, minus the amount of margin used. You don't need to hold any money in your account, so it's possible to withdraw the full balance if you need to.
The important thing to remember is that any withdrawn funds will be sent directly to the account that you used to make the deposit. For example, if you made a deposit with a credit card then the money will be sent to your card.
Note that certain withdrawal methods take priority. If you are withdrawing your money onto a credit card, this will happen first, then PayPal and finally bank transfers. If your details have changed since you deposited the funds, then you will be asked by eToro to provide an alternative withdrawal method.
It can take up to 1 business day for eToro to process your withdrawal request – assuming that all the details on your account are correct. Once the withdrawal is processed, the estimated time to receive payment depends entirely on your payment provider.
The typical timeframe for each payment method is:
|Credit/Debit card||3-8 working days|
|PayPal||1-2 business days|
|China Union Pay||1-2 working days|
|Neteller||1-2 working days|
|Skrill Limited UK||1-2 working days|
|WebMoney||1-2 working days|
|Bank Transfer/Wire Transfer||3-8 working days|
When it comes to bank transfers, if a large amount is being withdrawn then we suggest contacting your bank in advance. Large withdrawals may be put on security hold, causing further delays.
If you're withdrawing funds in a different currency than USD, then you'll also be charged a conversion fee. This conversion fee will vary depending on your chosen currency.
You may also be charged a transfer fee by your own bank, credit card provider or PayPal once the transaction has taken place. You can keep up-to-date with the status of your withdrawal in the Portfolio tab. It's important to note that eToro fees are subject to change at any time, depending on market conditions.
|eToro Withdrawal Fee||$5|
|eToro Minimum Withdrawal Amount||$30|
If you're looking to deposit your profits with a new broker then these are the ones we recommend. At AskTraders we compare broker across several categories to help you choose the right broker for you.
Before you proceed on withdrawing funds from your eToro account, below are the checklist or requirements that you need to be aware of.
Also, your account must have withdrawable funds available to proceed with withdrawals.
If you've changed your mind, don't worry. As long as your withdrawal status is Under Review, you can cancel your request by using the following steps:
Your funds and any fees applied to the withdrawal will be immediately returned to your account. If the transaction is showing up as In Process, then it won't be possible to cancel the withdrawal. If this happens, you'll need to contact eToro directly for help.
If the funds haven't appeared in your account, it's important to take into consideration processing and payment times. Depending on your chosen payment method, it can take up to 8 working days to process. Also, don't forget that it will also take eToro up to 1 business day to process your withdrawal request.
If you're still concerned, you can easily check the status of your withdrawal via your account:
Alternatively, you can also check the email confirmation you would have received from eToro in relation to your withdrawal request. Public holidays can also cause a delay in payment, so check your calendar to make sure that your withdrawal request doesn't fall on or between one of these dates.
Yes, all withdrawal requests are subject to a $5 fee. Any withdrawals sent in currencies other than USD are subject to conversion fees.
Minimum withdrawal amount is $30, while there is no maximum withdrawal amount.
You can only withdraw supported cryptocurrencies from the eToro trading platform to an external wallet via the eToro Wallet.
eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech startup.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % 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 .