Editor’s Verdict - How to Withdraw Money from eToro
Withdrawing profits remains the ultimate goal of all traders. Those who master trading tend to request monthly withdrawals, and our eToro withdrawal guide will cover everything you need to know about the eToro withdrawal process.
eToro offers numerous payment processors but also levies an internal withdrawal fee of $5, while the eToro minimum withdrawal amount is $30. We will outline available payment processors, withdrawal currencies, and processing times in our eToro withdrawal guide.
eToro Withdrawal Method
Internal withdrawal fees
$5 for each payment processor
How to Withdraw From eToro?
The secure back office of eToro manages all financial transactions, and the eToro withdrawal process remains hassle-free, except for providing a reason to withdraw funds, which is unnecessary.
Below is a step-by-step guide on how to withdraw money from eToro:
1. Log into your eToro trading account. Please note that only verified accounts may request withdrawals.
2. Click the “Withdraw Funds” button in the left-hand menu
3. Enter the desired withdrawal amount in the following pop-up. It will show your withdrawable balance and your total equity, with an option to get a detailed breakdown. Please note that the eToro minimum withdrawal amount is $30. All non-US Dollar withdrawals face a currency conversion fee, and eToro levies an internal charge of $5.
4. Select your payment processor from the available options. Some remain geographically restricted, and eToro only lists the ones available to you.
5. Specify your withdrawal reason from the drop-down menu, an unfortunate nuisance and pointless data collection that fails to improve the trader experience at eToro.
6. eToro will send a confirmation e-mail within two business days of the request, but it can take up to ten business days for funds to arrive. Your payment processor will notify you via e-mail, text message, or app once it receives your funds.
A strict withdrawal hierarchy exists at eToro, and withdrawals must follow the deposit path. Traders can request a withdrawal up to the value of the balance of the eToro account minus any margin used to hold open positions. In compliance with AML regulations, the name on the payment processor must match the eToro account.
eToro will process credit/debit card withdrawals before online payment processors and bank wires. Besides the regrettably $5 internal withdrawal fee, traders must consider potential third-party payment processor costs, and the currency conversion charge eToro applies to all non-US Dollar transactions.
The internal withdrawal processing time at eToro is two business days, which is slow compared to other brokers. It can take up to ten business days for funds to arrive, dependent on the payment processor and geographic location of traders. Bank wires are available to everyone, followed by credit/debit cards. eToro does not restrict credit/debit card withdrawals, unlike some brokers, and prioritizes them. eToro does not support cryptocurrency transactions.
eToro Withdrawal Methods
eToro lists ten withdrawal options, but geographic restrictions apply. The secure eToro back office only lists the ones available to traders and always includes bank wires and credit/debit cards. Unfortunately, eToro only supports US Dollar withdrawals and converts all non-US Dollar transactions into US Dollars for an expensive currency conversion fee.
Most traders prefer e-wallets as their withdrawal method due to low transaction costs, fast processing times, and follow-on usage. eToro features seven e-wallets among its ten withdrawal methods.
The eToro withdrawal methods consist of the following:
While the seven e-wallets have low minimum withdrawal amounts, often as low as $1, the eToro withdrawal minimum is $30 for all payment processors.
Which Payment Methods are Available for eToro Withdrawals?
eToro lists 14 deposit methods, but only ten are available for eToro withdrawals. The geographic location will narrow down the choices further. eToro only lists the available payment methods for withdrawals, which include eToro Money, credit/debit cards, bank transfers, Payoneer, PayPal, Neteller, Skrill, Trustly, iDEAL, and Przelewy 24.
How Long Does It Take to Withdraw From eToro?
eToro has lengthy internal processing times of up to two business days and does not offer same-day withdrawals. Additionally, it can take up to ten business days for traders to receive their funds, dependent on the payment processor and geographic location.
The average withdrawal time for the eToro withdrawal methods is:
- eToro Money - Instant
- Credit/debit cards - Up to ten business days
- Bank transfers - Up to ten business days
- Payoneer - Up to three business days
- PayPal - Up to two business days
- Neteller - Up to two business days
- Skrill - Up to two business days
- Trustly - Up to two business days
- iDEAL - Up to two business days
- Przelewy 24 - Up to two business days
Since most online payment processors feature instant or near-instant processing times, the two days eToro lists represent its internal processing times. While eToro notes processing times for its eToro Money service as instant, it can take up to one business day.
eToro Withdrawal Fees
eToro levies a $5 internal withdrawal fee plus potential third-party payment processor charges. Therefore, traders should carefully evaluate the entire cost structure and select the most suitable option. Traders who plan to use their eToro withdrawal for follow-on transactions, like paying bills or buying consumables, should also check the fees from their payment processor to the destination. Bank wires and credit/debit cards usually have the highest costs and the slowest payment processing times.
Currency conversion fees are among the most overlooked withdrawal fees, which apply when the account base currency and the withdrawal currency supported by the payment processor differ, for example, withdrawing from a US Dollar trading account into a Euro credit/debit card.
Unfortunately, eToro only supports US Dollars as a withdrawal currency and applies currency conversion fees to all non-US Dollar transactions.
Below are the withdrawal fees for each eToro withdrawal method:
- eToro Money - Free (only US Dollars)
- Credit/debit cards - $5 + currency conversion fees and potential third-party costs
- Bank transfers - $5 + currency conversion fees and potential third-party costs
- Payoneer - $5 + currency conversion fees and potential third-party costs
- PayPal - $5 + currency conversion fees and potential third-party costs
- Neteller - $5 + currency conversion fees and potential third-party costs
- Skrill - $5 + currency conversion fees and potential third-party costs
- Trustly - $5 + currency conversion fees and potential third-party costs
- iDEAL - $5 + currency conversion fees and potential third-party costs
- Przelewy 24 - $5 + currency conversion fees and potential third-party costs
Withdrawal Issues and Delays in Payment
While the eToro withdrawal process is straightforward, issues and delays in payment may occur if a new client has overlooked something. Traders who experience withdrawal issues should contact eToro customer support if they cannot resolve them with the help section eToro provides.
The most notable withdrawal issues and payment delays are:
- Traders request less than the eToro minimum withdrawal amount of $30 (please note the $5 internal withdrawal fee, meaning traders receive $25, as eToro deducts it from the withdrawal amount)
- Traders attempt to withdraw funds equal to their equity balance and ignore the available withdrawal balance (traders who wish to make a complete withdrawal must close all open positions before making a withdrawal request)
- Traders failed to verify their trading accounts, have documents rejected, or are missing them (it is best to verify trading accounts before making a deposit, as eToro allows unverified accounts to deposit up to $2,250)
- Traders added a new payment method that is unverified or not in their name
The eToro minimum withdrawal amount is $30, and eToro levies an internal withdrawal fee of $5, while processing times are two business days. eToro only supports US Dollars as a withdrawal currency and levies currency conversion fees for all non-US Dollar transactions. Traders get ten withdrawal methods, but eToro does not allow cryptocurrency withdrawals, and geographic restrictions apply. Only verified accounts may request withdrawals, and eToro is a secure and trustworthy broker that has always honored withdrawal requests. For additional information and data on eToro, read out thorough broker review.
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