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eToro Trading Account Questions

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etoro trading account questions for those want to open real etoro trading account.

Why do I need to verify my account?

The verification of your trading account is required so that we can provide you a better service, and comply with financial service regulations.

Your information is always kept confidential, and is only used for compliance purposes.

The following are required in order to complete your account verification:

  • Government issued ID (front and back scanned colored copies are required)
  • Phone number verification mandatory

IMPORTANT:

In order to avoid any account limitations, all clients should be verified as soon as possible.

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At any point, eToro may request additional identification documents.

What is the minimum deposit amount?

Welcome to the exciting world of Social Trading!

eToro offers you to start your own trading account with a minimum deposit amount that varies between $50-$1,000.

As of May 8th 2016, the minimum first time deposit amount for Israeli customers was increased to $1,000.

In order to view your required minimum amount, based on your region, simply enter the deposit screen in our cashier.

For your convenience, we’ve provided various deposit methods at your disposal: Credit Card (Visa, Master Card and Diners Club, AMEX*), PayPal, Neteller, MoneyBookers and WebMoney.

Are you familiar with Giropy and Yandex Money? They are both available to you as well.

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*AMEX can be used either directly via MoneyBookers (no MB account necessary), or by opening a PayPal account (subjected to their own terms).

We also offer you to fund your account via Wire Transfer, with a minimum deposit of $500.

Click here, to learn more.

Unverified accounts are limited to a total deposit amount of $2250. In order to upgrade your account to Verified status please contact Customer Service. Note that we reserve the right to change any of the deposit limitations indicated, at any time.

What is eToro’s credits policy?

Any credits given to you by eToro are intended to enhance your trading experience and portfolio. In the interest of fair trading, these credits are considered a NWA (non-withdrawable amount) until the trading volume requirements have been met. This means that you can convert your eToro credits into a withdrawable amount simply by trading.  Every time you close a trade, your NWA will get lower and consequently more of your equity will become available for withdrawal!

In accordance with this principle, the amount invested in open positions will always be taken from your real cash equity before incorporating eToro credits.

The added benefit of eToro credits is that once your cash equity has been fully invested, these credits can be used to increase your margin and leverage your investments.

It is important to note that your NWA gets lower with every trade that you close and also that any profit or loss as a result of trading, will always belong to your cash equity.

For example:

You have just deposited $100 and were granted  $10 in eToro credits, making your equity $110.

$10 of that $110 are marked as the “Non Withdrawable Amount” (NWA).

Different instruments may carry different percentages :

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Forex Major Pairs (any pair where the USD is one of the currencies) : 30% earned.

Forex Crosses (all other Forex pairs) : 20% earned.

Commodities and Indices : 10% earned.

Stocks : 30% earned.

For your convenience, here are some examples of how it works:

1. Forex Major Pair: You trade 10,000 Units of EUR/USD and close the trade. If the spread was $3, your NWA will be reduced by $0.90 (3 x 30%) bringing your NWA to $9.1 (10 – 0.9)

2. Forex Cross: You trade 10,000 Units of GBP/JPY and close the trade. If the spread was $1.3, your NWA will be reduced by $0.26 (1.3 x 20%) bringing your NWA to $8.84 (9.1 – 0.26)

3. Commodity: You trade 10 Units of OIL and close the trade. If the spread was $1.4, your NWA will be reduced by $0.14 (1.4 x 10%) bringing your NWA. to $8.70 (8.84 – 0.14)

 

Instrument

% Earned

EUR/USD 30%
GBP/USD 30%
NZD/USD 30%
USD/CAD 30%
USD/JPY 30%
USD/CHF 30%
AUD/USD 30%
All other Currency Pairs 20%
Commodities (Oil, Gold, Silver) 10%
Indices (SPX500, NSDQ 100, DJ30, UK100, FRA40, GER30) 10%
Stocks 30%
Bitcoin 10%
ETFs 30%

**eToro credits may expire and are subject to deductions upon withdrawal of cash equity from the account.

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Any credits given to you by eToro are intended only to enhance your trading experience and portfolio. If you are withdrawing funds related to your eToro credits, your withdrawal will be subject to a bonus deduction. eToro will contact you via email if such a deduction is needed.

For further details, please see section 1.22.2 of our Terms & Conditions.

Where can I find my Position ID?

What is a position ID?

The position ID is a unique 8 or 9 digit number assigned to each trade for identification purposes.

Where can I find the position IDs of my open trades?

On the new eToro platform, the position ID for an open position can be found by clicking on the blue Settings wheel on the far right of the open trade in your Portfolio.

This will trigger the ‘Edit Trade’ pop-up window, at the bottom of which you will find the position ID:

In the WebTrader, the position ID can be found by hovering your mouse over the instrument in the ‘Open Trades’ section of your trading dashboard:

If you are using the iOS or Android app on your mobile, visit your Portfolio and click on the instrument of interest. Then, you will be able to view all currently open positions under that instrument. Click on the position in question, which will lead you to the “Edit Trade” screen. At the bottom of the ‘Edit Trade’ window, you will find the position:

How do I change my password?

In order to change your password, please follow the instructions below:

  • Log into your Account Settings via the following link: https://www.etoro.com/settings
  • Select the ‘Account’ option
  • Click ‘Change’ next to the Password field in the ‘credentials’ tab
  • Enter all the requested details and click ‘Submit.’

Trading Credits

Welcome to the exciting world of Social Trading!

Do you wish to receive a special promotion offer?

We are offering eToro credits plans and incentives to our traders.

Simply click Here, and select any one of our promotions!

Couldn’t find any offer?  Come to live chat and ask about a deposit bonus.

Who knows, perhaps there is a special bonus waiting just for you…

Are withdrawals instant?

As per our terms and conditions, all withdrawals may take up to 3 business days to be processed provided we have received all necessary documentation to process the withdrawal.

Depositing into my trading account

Simply click here to deposit!

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Depositing is quick and easy. There are various payment methods at your disposal, you may choose whichever method you prefer, and follow the instructions below:

  • Login to the trading platform
  • Click on ‘Deposit Funds’
  • Enter the amount and the currency
  • Select your preferred deposit method

Click here for more information.

How do I Deposit via Credit Card?

To deposit using a credit or debit card, please click the “Credit Card” option and enter the following details:

  1. Your card number
  2. Your card’s expiry date
  3. The CVV code (3 digits on the reverse side of your credit/debit card)

Within minutes, your account should be credited with the funds. If your request is not approved for any reason, you will be notified via email.

The transaction will show as ‘eToro (Europe) Ltd.’ in the financial statement of your payment provider.

How do I deposit by wire transfer?

To deposit via Wire Transfer, please click on the Wire Transfer option in Cashier:

  • Choose the currency and the amount, and click on ‘Next’. Different details will be given for different currencies, so make sure you have chosen the correct currency.
  • Print out the Wire Transfer details appearing on the screen.
  • Go to your bank and forward your Wire Transfer.
  • Fill in your username and the transaction reference number in Payment Details field.
  • Your bank will issue a SWIFT document of your transfer.
  • After transferring the funds please upload a scanned copy of the SWIFT document to  https://www.etoro.com/application/help/contact.aspx

If it was an online transfer please make a screenshot of the online confirmation.

Note: Wire transfer deposits may take 4-7 business days to process. Your eToro trading account will be credited once the transfer has been confirmed by our bank. The rate will be calculated on the day the deposit was processed to your account.

The transaction will show as ‘eToro (Europe) Ltd.’ within the financial statement of your payment provider.

How old do I need to be to trade with eToro?

If you wish to open a real money account with eToro you must be at least 18 years old.

How do I upload the documents?

You can upload documents with one of these simple methods: 1. Click here Or, 2. Open a ticket.(The “Upload” button will appear once you fill in the form).  * Documents can be uploaded in the following formats: .pdf, .jpg, or .doc * Once you have uploaded the documents and in order to proceed with your account verification, simply come to live chat, and let us know.

Can users from the US trade with eToro?

Please note that we were previously offering our trading services in the USA.

However, due to changes in regulations conflicting with the trading laws, we can no longer supply our services in your country.

Does eToro offer Islamic accounts?

Here at eToro, we are able to offer Islamic accounts in accordance with the Sharia law. The benefits of an Islamic account are:

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  • No interest on settlement for more than 24 hours, Zero-rollover interest consistently.
  • No additional commission on rollover for more than 24 hours.
  • No charges, commissions or fees on account management, with the only revenues coming strictly from the spreads (the difference between the ‘ask’ and ‘bid’ prices of a currency pair).

Should this account be of interest to you, the procedure to open an eToro Islamic account requires:

  • Registering for a real account and investing a minimum of $1000 USD.
  • Providing identification documents, in order to complete your account verification.

How to temporarily disable my account?

Please follow these steps In order to temporary disable my account:

1. Make sure you do not have any open positions and/or active copy relationships.

(The Open Trades tap in the WebTrader should be empty.)

2. Open a withdrawal request to all withdrawable funds in your account. Please note that if you have less than $20 we will do it for you.

3. Open a ticket requesting to close your account. Please choose “Other reason” in the “Why do you want to close your account?” drop-down.

If you wish to reactive the account, please open a ticket and request to reactive the account.

Does eToro charge withdrawal fees?

Yes, withdrawal requests are subjected to a withdrawal processing fee depending on the requested amount. You will see the actual withdrawal fee in the Cashier after you have entered the withdrawal amount; at this point you still can abort the request.

The following are the withdrawal fees:

   Withdrawal Amount (USD)  

Fee (USD)

  20.00 – 200.00    5.00
  200.01 – 500.00   10.00
  500.01 +   25.00

Any withdrawals sent in currencies other than USD are subject to conversion fees. Details of our fees can be found here: Fees Please note, you may be charged by the funding provider involved in the transfer (Intermediary bank, receiving bank, or your credit card provider).

How will the charges appear on my Credit Card statement?

Your Credit Card charges will be posted on your Credit Card statement under eToro (Europe) Ltd.

If your Credit Card deposit was under Moneybookers, will be posted on your Credit Card statement under Moneybookers

Feel free to contact our support team in any billing question you might have at: eToro Support

What is the minimum deposit amount?

Welcome to the exciting world of Social Trading!

eToro offers you to start your own trading account with a minimum deposit amount that varies between $50-$1,000.

As of May 8th 2016, the minimum first time deposit amount for Israeli customers was increased to $1,000.

In order to view your required minimum amount, based on your region, simply enter the deposit screen in our cashier.

For your convenience, we’ve provided various deposit methods at your disposal: Credit Card (Visa, Master Card and Diners Club, AMEX*), PayPal, Neteller, MoneyBookers and WebMoney.

Are you familiar with Giropy and Yandex Money? They are both available to you as well.

*AMEX can be used either directly via MoneyBookers (no MB account necessary), or by opening a PayPal account (subjected to their own terms).

We also offer you to fund your account via Wire Transfer, with a minimum deposit of $500.

Unverified accounts are limited to a total deposit amount of $2250. In order to upgrade your account to Verified status please contact Customer Service. Note that we reserve the right to change any of the deposit limitations indicated, at any time.

Am I allowed to have more than one account?

Kindly note that you can have more than one account with eToro.

In order to do this, you will need to register with the same full name and provide the same documents as in your other existing account(s).

You will need to use another email address and screen name.Please refer to our Terms and Conditions to make sure you do not breach our eToro credits policy: http://www.etoro.com/en/customer-service/terms-conditions/ (section 9.4.)Click here to open a new account.

Can I deposit using a friends’ payment method?

A 3rd party payment is a deposit made from a payment method that is not in the same name as the owner of the eToro account.

As stated in our Terms & Conditions, the owner of the trading account should be the owner of the funds. Therefore, you are unable to make a deposit using someone else’s payment method.

However, there are a few exceptions. For example, If you wish to use a method of payment belonging to your spouse, we can set up a ‘Joint Account’ for you. This means that both parties will be allowed access the account to trade and deposit or withdraw funds.

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You will be asked to provide identification documents and a copy of your marriage certificate, as well as completing our joint account form.

Alternatively, if you are using a family members’ method of payment and you are able to prove your relationship with a birth certificate, an affidavit or a similar document, then we can set up Power of Attorney on the trading account (POA).

If you cannot prove your family relation or have no relation to the 3rd party payment holder, then sadly, we cannot offer the POA option. Setting up a POA means you can only deposit and withdraw using payment methods in the name of the POA.

Along with the relationship proof, other identification documents will be requested as well as completing our POA account form.

What is the minimum withdrawal amount?

The minimum amount you can withdraw from your account is $20.

How many followers do I have?

You can see all your followers by going to your profile and viewing the “followers” tab. You can also view a list of all traders you are currently following.

What is the Maximum number of open trades I can have in my account?

There is no limit for the amount of open trades you can have in your account at the same time.

How can I unsubscribe myself from your mailing list?

If you wish to unsubscribe yourself from our mailing list, all you need to do is click here.

This link is also available at the bottom of each promotional / news email we send to your email address.

If at any point you wish to Re-subscribe yourself, please click Here.

How can I get daily market updates?

eToro sends its clients market updates twice a day!

The updates are sent to the email you registered with.

Please note that the updates are sent only to active clients.

Can I invite my friend to eToro?

Any friend of yours is a friend of ours! 

Invite your friends to eToro, and receive a $100 bonus.

The friend invitation promotion is a fairly simple one:

  1.  Make sure you only invite friends who never had an account with us.
  2. Once a friend has signed up with your link, he will need to deposit a single amount of $500.

Any amount below that, and the bonus will not be awarded.

*Your friend must use a deposit method that belongs to him.

*A friend who deposits more than $500 will still receive $200.

Make sure that your friends sign up thorough your link only, otherwise the bonus will not be awarded.

Do you accept Alertpay?

eToro currently does not accept AlretPay as a deposit method.

You are welcome to fund your account via one of the following payment methods:

Credit Card (Visa, Master Card, Diners Club, Amex), PayPal, Neteller, MoneyBookers, WebMmoney, GiroPay and Wire Transfer.

Is eToro regulated?

Yes, we are!

eToro’s brokering services are provided by eToro (Europe) Ltd., a registered Cypriot Investment Firm (CIF). The company’s registration number is HE20058.

eToro is also regulated by the Cyprus Securities & Exchange Commission (CySEC) under license number 109/10, and by eToro (UK) Ltd. which is a registered company in the UK (company registration number 7973792). In the UK, eToro is authorized and regulated by the Financial Conduct Authority (FCA), under firm reference number 583263.

eToro (Europe) Ltd. and eToro (UK) Ltd. both operate under and comply with the Markets in Financial Instruments Directive (MiFID).

How can I submit a complaint?

To submit a complaint, please use our Online Form.

Please choose “I would like to file a complaint” under the “Type of query” line and make sure to provide as much information as possible.

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