Did you know that the majority of people are first introduced to the world of trading by friends and family members?
Whether it’s formulating winning strategies or prospecting for the next big thing together, many traders enjoy the social aspect of trading.
Fortunately, eToro makes it easy for you to share your passion for trading with those closest to you by taking part in their referral program.
In this guide, we’re going to take a look at the eToro referral bonus and how you can make a bit of extra cash by referring a friend.
In a nutshell, the eToro referral programme rewards you for referring new customers to eToro. This reward takes the form of a monetary bonus which will be credited directly into your account. Read on for more information on how much this bonus is and how to receive it.
Rewards programs are based on referral links. These links allow businesses such as eToro to see exactly which customers have referred others to their platform. Each referral link is uniquely assigned, which means no one else will have the same link as you. Each time someone uses your link to sign up to eToro makes a deposit and closes a trade, you will receive a referral bonus that will be credited into your account.
The referral bonus will either be US$50 or US$100 depending on where you live.
Both you and your referred friend must also live in one of eToro's ‘Qualified Countries' below. If one (or both) of you don't live in any of these countries, you won't be eligible for the referral bonus offer:
Argentina, Bolivia, Cambodia, Chile, China, Colombia, Costa Rica, Cuba, Dominican Republic, East Timor, Ecuador, El Salvador, French, Guayana, Granada, Guatemala, Guayana, Haiti, Honduras, Hong Kong, India, Indonesia, Jamaica, Laos, Macau, Malaysia, Mexico, Nicaragua, Panama, Paraguay, Peru, Philippines, Surinam, Taiwan, Thailand, Uruguay, Venezuela.
Australia, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates
You can refer up to 10 people using your unique referral link. In theory, this means you can qualify for up to 10 bonuses. However, it's important to remember that you and your referred friend or family member must live in a ‘Qualified Country' and meet the terms and conditions of the offer (more on that next)
In order for you and your friend or family member to qualify for the referral bonus, there are several important conditions you must meet:
eToro makes the referral process incredibly easy. Refer a friend by following these steps:
1. Log in to your eToro account
On the right-hand side, click ‘Invite Friends'
2. Copy your link & send it to friends
A new tab will automatically open up in your internet browser with your unique referral code. Hit the ‘copy' button and send it to your friends. You can also post your link on Facebook and Twitter for uber-quick sharing. Easy!
It's one thing to ask your friends to sign up, but it's another to expect them to deposit their money and make a trade in order to qualify for the bonus. If they're a new trader, you can give them help to learn the basics of trading by pointing them to our CFD trading guides.
Here, they can learn all about CFD trading, from how to create a trading plan, manage their risk and some basic trading strategies to get them started.
It's also worth asking them to check out our review of eToro and set up a demo account so that they can practice trading and perfect their strategy before they start using their own money.