Etoro is one of the biggest social trading platforms in the world. They offer more than 2,000 trading instruments in different classes, including crypto, stocks, and more. You can make a deposit via credit card, wire transfer, and other options. The platform offers unified fees and relatively low minimum deposits.
No fees are charged on deposits in USD, which is the platform’s default currency. 14 other currencies are supported, including EUR, GBP, IDR, MYR, VND, AUD, RMB, THB, and more. If you make a deposit in one of these, you’ll be charged a conversion fee.
The minimum deposit is $200 for users in most countries. Three exceptions are Israel, Algeria, and the US with minimum first deposit amounts of $10,000, $5,000, and $50. Users residing in the Cayman Islands, Costa Rica, Azerbaijan, Bahrain, French Polynesia, Georgia, Dominican Republic, Egypt, India, Isle Of Man, Gibraltar, Iceland, Kazakhstan, Kenya, Jersey Island, Jordan, Morocco, New Zealand, Kuwait, Lithuania, Qatar, Reunion Island, Oman, Palestinian Territory, Saudi Arabia, Ukraine, or Senegal must deposit at least $1,000 if they just joined the platform.
For all users, the minimum deposit is just $50 after the first deposit. If you’re making a deposit via bank transfer, it needs to be at least $500. Those opening a corporate account need to transfer at least $10,000 as a first deposit.
Etoro can change minimum deposit requirements at their discretion and at any time. On the plus side, it’s free to open an account. No commission is charged on stock investments and there are no ticketing or management fees either. No fee is due when closing or opening a position, but this doesn’t apply to leveraged or short ones.
Beyond the minimum deposit required, you should consider a few other factors when you are thinking about opening an account with eToro. Every broker has different pluses and minuses. It’s helpful to read reviews and testimonials before making a financial commitment like a deposit. That said, eToro is a respected and reputable broker, with whom the vast majority of traders and investors will say their money is safe and secure.