eToro Minimum Deposit

Editor’s Verdict - eToro Minimum Deposit

The eToro minimum deposit is $200 for most traders and can be as low as $10 or as high as $10,000, dependent on the geographic location.

The eToro account types and minimum deposit requirements are:

• eToro retail account (eToro minimum deposit between $10 and $10,000, market maker account)
• eToro Islamic account (eToro minimum deposit of $1,000, market maker account)
• eToro corporate account (eToro minimum deposit of $10,000, market maker account)

The eToro Minimum Deposit Overview

eToro offers all retail traders its commission-free trading account, where the eToro minimum deposit depends on the geographic location, as outlined in the table below. The minimum deposit for bank wires is $500, as the sender and receiver face processing costs, making smaller amounts uneconomical. Follow-on deposits are $50 except for the US and the UK, where traders can deposit $10.

eToro minimum deposit breakdown:

The eToro minimum deposit is moderately higher than most competitors, except in the US and the UK, but remains well within a reasonable range. Traders should not exclusively focus on the eToro minimum deposit but determine realistic capital requirements to achieve their targets. Neither eToro minimum deposit amount, except for Israel, suffices for efficient portfolio management or warrants the effort to generate sustainable profits.

How to Make a Deposit at eToro

Traders can deposit at eToro by following the below steps:

1. Log into your eToro trading account

2. Click on Deposit Funds

3. Enter your desired deposit amount and deposit currency (please note that currency conversion fees apply for all non-USD deposits)

4. Select your payment method (geographic restrictions may apply)

5. Confirm your deposit (you will receive a confirmation e-mail from eToro, and your payment processor will also notify you)

eToro Deposit Fees and Deposit Methods

eToro has no internal deposit fees. Therefore, if you make a $200 deposit into your eToro trading account, you will receive $200. Third-party payment processing costs and currency conversion fees may exist. Bank wires rank as the most expensive deposit methods and always incur charges.

eToro deposit methods, processing times, and limitations:

Noteworthy:

• The eToro minimum deposit for unverified accounts is $2,250
• Not all payment processors are available to all traders, dependent on geographic location
• eToro processes all deposits in US Dollars and applies currency conversion fees between 50 pips and 3,500 pips, dependent on the deposit currency

Traders should consider selecting the most suitable payment processor with the lowest transaction costs and carefully evaluate the third-party fees of their preferred option. It includes withdrawal charges, as eToro withdrawals must follow the deposit path for the deposit amount.

eToro deposit methods vs. similar brokers

eToro Deposit Currencies

Traders must understand the difference between account base currencies and deposit currencies. The former is the base currency of your trading account (eToro only offers US Dollars), and the latter are currencies available for deposits through payment processors (eToro supports 14). A currency conversion applies for each non-US Dollar transaction and eToro levies between 50 and 3,500 pips.

eToro supports the following account base currencies:

• US Dollar

eToro only supports the US Dollar as their account base currency, as 80%+ of the daily Forex trading volume includes the US Dollar. Therefore, traders will pay fewer conversion fees, which increases overall profitability. A multi-currency account with an online or brick-and-mortar bank will also help traders minimize currency conversion fees. It allows deposits in desired currencies, and traders can convert their local currency into US Dollars before making the eToro minimum deposit. Transaction and conversion fees plus exchange rates are usually notably better than online payment processors.

eToro trading account currencies vs. similar brokers

Steps of Sending the eToro Minimum Deposit

eToro allows unverified accounts to send the eToro minimum deposit but limits it to $2,250, but only verified trading accounts may request withdrawals. Therefore, traders should pass mandatory verification to satisfy AML/KYC requirements stipulated by regulators. A copy of a government-issued ID and one proof of residency document usually suffice to verify an account.

Here is how Forex traders can send their eToro minimum deposit:

1. Traders must open an eToro account to access the secure back office, which manages all financial transactions. The online application requires the desired username, e-mail address, and password, but traders may also open an eToro account with their Google or Facebook IDs. eToro will send a confirmation e-mail following the registration with the login details.

2. While account verification is not necessary to send the eToro minimum deposit of up to $2,250, it is to withdraw funds. Therefore, traders should complete it by sending a copy of a government-issued ID and one proof of residency document.

3. The secure back office is where traders can send the eToro minimum deposit. It will list all available payment processors. eToro converts all non-US Dollar deposits into US Dollars, and traders must consider currency conversion fees, which eToro levies. Traders should select their desired payment processor, deposit amount, and currency. Some third-party payment processors redirect to their page and require a login and deposit confirmation.

4. eToro lists processing times for all payment processors as instant, except for bank wires, which can take between four to seven days. Traders will receive a confirmation e-mail once eToro receives the deposit and credits it to the trading account. The payment processor also sends a notification and lists the transaction in the payment history.

The Pros & Cons of the eToro Minimum Deposit

While the eToro minimum deposit process remains hassle-free and offers traders numerous options, it is essential to consider the pros and cons of the eToro minimum deposit.

eToro Minimum Deposit Bottom Line

eToro supports numerous payment processors and deposit currencies but only offers US Dollar base accounts. Therefore, it converts all non-US deposits into US Dollars and levies a currency conversion fee. The eToro minimum deposit for most traders is $200, higher than most competitors, but within a reasonable range, with follow-on deposits at $50. Payment processing times are instant for all payment processors except bank wires, which have a minimum deposit requirement of $500. Unverified accounts may deposit up to $2,250. To find out additional up-to-date information about eToro, read our eToro Review.

FAQs

What are eToro's deposit methods?

eToro supports eToro Money, credit/debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, bank transfer, online banking – Trustly (EU region), Online Banking (Asia), POLi, Przelewy 24, and Payoneer.

Does eToro have a no-deposit bonus?

eToro does not offer a no-deposit bonus.

How much is the eToro minimum deposit?

The eToro minimum deposit for most traders is $200 but can be as low as $10 and as high as $10,000. Bank wires require a minimum deposit of $500, and follow-on deposits are $50.

What is the minimum amount required to trade on eToro?

eToro does not have a minimum amount to trade, but the minimum trade size is between $10 and $1,000, depending on the asset, which includes leverage.

Does eToro have a minimum deposit?

The eToro minimum deposit is as low as $10 and as high as $10,000, depending on the geographic location of traders, with most needing to deposit $200

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