Can I use PayPal to deposit in my eToro account?
Yes, you can, all over the world. The transfer is instant and the broker supports USD, GBP, EUR and AUD. The deposit limit of this method is $10,000. Having an active PayPal account with sufficient funds is the only requirement. They must be available on either a bank card connected to the account or in the balance itself.
Step by step guide
You click on PayPal under the methods of payment in Deposit Funds, then enter a deposit amount. After you click on Continue, the platform will redirect you to a new page, where you can log into your account.
Here, you must enter your login information, verify the transaction, and then click on Pay. The transfer through PayPal is near instant and you should see the funds in your account right away. You’ll be notified by email if you aren’t approved.
Your payment provider, in this case PayPal, will list the transaction as eToro.
Fees and other costs
The platform will charge a conversion fee if your account currency is different from the default, USD. When you withdraw, this fee will be deducted. It is calculated in pips and the currency you use determines the exact amount. Spread fees are directly proportional to the amount withdrawn. The withdrawal fee itself is fixed at USD 5. Generally, eToro is one of the brokers with the lowest fees and makes many different payment methods available. However, the minimum deposit is 200 currency units (USD 200, EUR 200, etc.
Other conditions
Deposits are near instant with up to 10 payment methods available. Bank wire is the most traditional one. There are also Skrill, Sofort, Rapid Transfer, WebMoney, Neteller, and UnionPay. You can also use credit or debit cards.
You can make a deposit immediately after opening your trading account. Before you begin trading, you need to wait for account verification. It’s highly recommended you take some time practicing with a demo account, where you use virtual funds.
