eToro Minimum Deposit
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Before trading with eToro, it is essential to have precise know-how about eToro’s minimum deposit. eToro offers a variety of trading accounts, each with its requirements for minimum deposits.
No doubt, eToro is one of the most reliable and reputable platforms to start trading with. But as a beginner, you should acquire some basic knowledge about how this platform works and what payment methods they offer.
What is the eToro minimum deposit?
For the standard account, this broker platform requires a minimum deposit of $200. To open an Islamic account, you must deposit a $1000 minimum deposit. However, this amount will vary based on the account type and country of residence.
|Fees for Withdrawal||$5|
|Fees for Deposit||None|
|Account Base Currencies||USD|
Which base currency is accepted at the eToro broker?
The account base currency is the one in which a trader can begin trading on the broker platform. Therefore, the Toro is just limited to the base currency of USD.
In addition to USD, there are nine other currencies available for a deposit. This includes THB, EUR, MYR, PHP, VND, RMB, IDR, and GBP. Trading with any money other than USD requires conversion, for which a small fee will be charged, i.e., 0, 0001$ per dollar.
Does eToro broker offer any deposit bonus or deposit fees?
eToro does not offer a bonus amount or deposit bonus. You cannot avail of any other rewards, bonuses or additional promotions.
With online trading, it is evident that you have to pay a small fee. But the good news is that with eToro, you don’t need to pay a single penny as a deposit fee.
eToro minimum deposit for different trading account types
eToro trading accounts are generally available in three main types, and each one has its minimum deposit requirements. These trading accounts are:
- Standard account
- Islamic account
- Corporate account
Let’s discuss the minimum deposit requirement of each trading account below:
1. Corporate Account
The corporate account requires a minimum deposit of $10,000. You have to submit this amount once your corporate account has been thoroughly verified for trading. In this account, you must trade under the company’s name.
2. Islamic account
Next, we have an Islamic account in which traders can start trading according to Sharia-compliant regulations.
The working process of this account is the same as a standard account, but there might be differences in the rollover fees. For the Islamic account, $1000 is the requirement for a minimum deposit.
3. Standard account
The minimum deposit requirements for standard accounts are constantly changing, so you must keep up with them when trading.
At present, the minimum deposit requirement is based on the resident country, which is around $200, with few exceptions.
For Germany, the USA, Norway, Austria, Italy, and the Netherlands, the minimum deposit is $50. For Algeria, it is $5,000 and $10,000 for Israel.
Comparison of eToro Minimum Deposit with Other Brokers
Comparison table of eToro minimum deposit with other brokers is discussed in detail below:
|Account Currencies||USD||EUR, GBP & USD||USD, EUR, AUD, ZAR & GBP|
How can you make the eToro minimum deposit?
- Log into your trading account to start the process of trading.
- Once your account is opened, click the option “deposit funds” on the control panel.
- Choose the currency in which you are about to make the deposit.
- Enter the amount.
- Choose the preferred payment method. Follow the payment completion steps to make the deposit.
eToro Payment Methods
eToro broker is available with different payment methods for the deposit and withdrawal of money. Accepted payment methods are:
- Credit/Debit Card- MasterCard, and Visa, Maestro & Diners Club
- Electronic Wallets- PayPal, or Skrill, WebMoney, and Neteller
- Bank or Wire Transfer Deposit
In terms of duration, each payment method has its period for completing a transaction. For example, with a credit card or an electronic wallet, the money is completely transferred in just a few seconds. But with bank or wire transfer, the process will take a maximum of 4-5 working days.
Other eToro deposit methods
A variety of other deposit methods are also available, which can make your funding process a smooth way to go.
A local bank transfer method is available to traders in Vietnam, Malaysia, and Thailand. In Vietnam, the maximum limit for the funding is at 100m VND, equal to $4000.
The ACH funding method should be considered for US traders since it enables you to fund the account within two working days. Plus, China Union Pay is also available to perform some instant deposits within the US.
What is an eToro wallet for deposit?
eToro has just recently introduced the wallet for facilitating crypto trading. Using this wallet method, you can deposit cryptocurrencies into your account.
In support of each cryptocurrency, a separate wallet has been introduced. There is also a small fee based on how much crypto you’ve traded and which account you’re transferring it to.
Why choose eToro?
- Safe and regulated trading platform
- Minimum deposit of just $200
- Available with a demo account for beginners
- Social and copy trading
- Offer 3,000 assets such as commodities, stocks, Forex, CFD, and cryptocurrencies
- Get in touch with professional traders
- High spreads
- 24/7 customer support through email, phone, ticket, or chat.
This discussion concludes that eToro is a platform that is both reliable and professional. We hope this guide has given you enough information about how to deposit your money with eToro and the minimum deposit.
Choose the investment amount which fits your requirements and budget. More than nine payment methods are offered by eToro to make your trading an effortless process.
Visit the eToro broker platform right now and create a trading account right now!
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst