Some platforms do not allow users to withdraw money directly from their platforms. However, eToro is not among them. Here is a step-by-step guide for understanding how to withdraw money from eToro. Thus, it can be done straight from the eToro platform.
The best part is that there isn’t any specific period to withdraw your funds from eToro. If you are a verified client, you can cash out easily from your account at any time of the day. Processing withdrawal can only be made on working days. eToro also charges fees to its users to withdraw money from its platform.
The fees are the same for every transaction. So, it doesn’t matter whether you withdraw $50 or $5000. You need to pay the same fee. The processing time for your transaction is also not high. It usually takes 2-3 days. eToro has various features available for its users. You can enjoy various benefits of using this platform. One such benefit is withdrawing money from your account.
You need to go through the same payment method to withdraw money used to deposit funds. Confused? This post will solve all your confusion and help you get all the crucial information needed to withdraw funds from your eToro account. We will provide you with details related to eToro and how to withdraw money from eToro.
Let’s jump into the post to understand how to withdraw money from eToro.
What Is eToro?
eToro is one of the leading social trading platforms worldwide, established in 2007. It is a multi-asset brokerage company focusing on providing financial and Copy-trading services like crypto and forex. Users can open their free accounts and enjoy zero commission by investing in leading stocks. The platform is well-known for offering both investments in stocks and digital assets.
Users can begin trading ETFs and stocks on this platform. eToro is one of the most famous and widely accepted platforms. It has an innovative tool, a social investing platform, wherein users are allowed to copy the trades of other investors. Let us find out the pros and cons of eToro before moving towards How to withdraw money from eToro.
Pros And Cons Of eToro
Let us have a look at the pros and cons of eToro. Here are the pros and cons listed.
Pros of eToro
- Innovative platform
- It has users from various countries
- Users can enjoy seamless account opening
- Social trading
- Easily withdraw money
- Free stock and ETF trading
Cons of eToro
- High non-trading fee
- Customer support is not so good
- Only one account base currency
- Only available in certain countries
Let us check the withdrawal options before understanding how to withdraw money from eToro.
Withdrawal Options At eToro
You must know the withdrawal options before learning how to withdraw money from eToro. Let us check out the withdrawal options if you are using the eToro platform.
- Bank transfer
- Debit card
- Credit card
- Electronic wallets
The most common method to withdraw money from eToro is a bank transfer. It is available at all brokers, including eToro. You can also choose any other option to withdraw money. The best electronic wallets available are PayPal, UnionPay, Skrill, etc. If you choose the right withdrawal option, you can easily learn how to withdraw money from eToro.
Important Points To Consider Before Withdrawal
You need to take care of certain things while withdrawing money from eToro. Here are the important points to consider.
- Your account must be verified.
- A minimum amount of withdrawal is $30
- A withdrawal fee is also charged on the platform
- Once your withdrawal request is processed by eToro, you will be notified through email.
- You can cancel your withdrawal request as long as it is Under Review.
As you know the important things, let us move on and understand how to withdraw money from eToro.
How To Withdraw Money From eToro?
Wondering how to withdraw money from eToro? The answer is simple! You need to place a withdrawal request to withdraw money. Let us find out how to withdraw money from eToro and how to place a request for that.
eToro app > Withdraw funds > Amount > Submit > Continue > Reason for withdrawal > Continue > Submit Request
These were the short steps. Let us understand how to withdraw money from eToro in detail.
1. Open The App
The first step in understanding how to withdraw money from eToro is to open the trading platform. Navigate to the menu and tap the Withdraw Funds option from the top-left corner.
2. Enter Amount
You now need to enter the amount you want to withdraw and then press the Submit button. After this, you will get a few notices like missing out on other opportunities or losing the eligibility for your benefits. If it is no concern, hit the Continue button; otherwise, press the Cancel Withdraw button.
3. Reason For Withdrawal
You will now be asked the reason for requesting a withdrawal. Options will be listed, and you need to choose the applicable reason. Options such as withdrawing profits, the platform doesn’t meet your needs, unsatisfied with trading conditions, moving toward a competitor, etc., will be included. Choose the most appropriate one and hit the Continue button.
4. Submit Your Request
It will be notified that your withdrawal will be processed through one of the previously used payment methods for funding your account. Press the Submit Request button. They will ask you to provide another payment method if the full amount you requested for the primary withdrawal methods can’t be sent.
You will receive confirmation that the request has been submitted and will be processed soon. With this, you can now withdraw your money from eToro easily.
This guide has all the details regarding How to withdraw money from eToro. We hope you have cleared all your doubts about withdrawing from eToro. The eToro platform has various withdrawal options. You should not forget that these multiple withdrawal options on eToro involve certain fees. It can be a little disheartening if you want to withdraw a little amount more frequently.
You must have learned how to withdraw money from eToro with our post. So, why are you waiting now? Try withdrawing money from eToro. Don’t forget to share your experience with us. Feel free to ask us your queries or problems if you face any.
Frequently Asked Questions
Q1. Can I Withdraw Money From eToro To PayPal?
A.Yes, you can! It is possible to withdraw funds from eToro to PayPal but only for those who used PayPal to fund their accounts.
Q2. Are There Any Withdrawal Fees?
A. Yes, you need to pay certain fees for withdrawal requests. You can see the withdrawal fees after entering the amount you want to withdraw.
Q3. Can I Cancel My Withdrawal From eToro?
A. Yes, you can cancel your withdrawal request. You just need to follow some steps to cancel your withdrawal request.
Q4. How Long Does An eToro Withdrawal Take?
A. If you are choosing bank transfer, it might take around 5-10 days. If PayPal is chosen as a payment method, it takes less time, usually up to 2 days.