Abstract：eToro is committed to bringing traders the ability to withdraw profits at any time, and this brokerage house offers a wide range of convenient and secure payment options that traders can use to cash out their profits. At any time, you will be able to withdraw funds from your eToro account up to the value of the remaining balance in your account, minus the amount of margin that has been used in your transaction. If you are in need of withdrawing your entire balance, you do not have to hold any money in your account, so you are free to withdraw the entire balance if you need to.
Born in 2007, eToro is a long-established forex broker regulated by three top-tier regulated authorities, including ASIC, CYSEC, and FCA. eToro, as a reputable trading platform, makes a sophisticated and superb trading environment reachable by offering a wide selection of trading assets, powerful MT4 & MT5 trading platforms, the social trading platform, as well as dedicated customer care to solve any trading-related problems.
In most cases, regulation remains one of the most important criteria that should be taken into account when choosing a broker. Apart from regulation, it is important to note that one of the most important aspects of a brokerage's reliability to trade is the speed at which funds can be withdrawn and the ease at which it can be done.
For most traders, it is easy to deposit money into their trading accounts, and it can be equally easy to earn profits from their trades, but when it comes to withdrawing your funds and your hard-earned profits, the situation may differ depending on which trading platform you use to withdraw your funds. It is no exaggeration to say that succeeding in withdrawing your hard-earned funds at end of your trades makes a happy ending in your forex game.
eToro is committed to bringing traders the ability to withdraw profits at any time, and this brokerage house offers a wide range of convenient and secure payment options that traders can use to cash out their profits. At any time, you will be able to withdraw funds from your eToro account up to the value of the remaining balance in your account, minus the amount of margin that has been used in your transaction. If you are in need of withdrawing your entire balance, you do not have to hold any money in your account, so you are free to withdraw the entire balance if you need to.
For your convenience, the following are a few simple and straightforward steps that you can follow:
1. Click on the “Withdraw Funds” button in the left-hand menu, and starting transferring money from your investment account to your bank account;
2. Then, the total available balance in your trading will show up, and type the sum you want to transfer and the bank account to which the funds should be transferred. There is a catch though since you are only allowed to withdraw funds that are earned in your account.
3. Select your preferable currency;
4. Choosing a reason for your withdrawal request, for instance, you want to withdrawal profits;
5. Carefully check whether default payment method is accurate. If not, click “Other Payment Options”
6. Click “Submit”, and after eToros approval, your funds can be successfully withdrawn.
Also, here is a video that you can watch on the eToro Academy page to give you a more detailed explanation as to how to withdraw funds from your investment account:
Some requirement for you to withdrawal funds from eToro:
1. It is required that the minimum withdrawal amount be $30 USD in order to process the withdrawal;
2. Withdrawable funds available in your trading account, only funds from your available balance can be withdrawn, not funds invested in open positions;
3. Your account is fully verified and without limitations, which means that a green tick appears on your profile (if you haven‘t yet verifed your account, then you need to contact eToro’s customer support team to solve this problem and upload your requirement documentaries);
4. Make sure new payment methods you add is valid. If you add details of a new payment method, it must be in your name and be registered in your country of residence.
As part of eToro's strict information security policy, the details of your personal information, payment information, as well as any other information associated with your account are protected. Financial services and users with a strong security-conscious attitude will feel confident that strict guidelines have been implemented to protect their private information.
In terms of withdrawal fees, eToro requires a certain fixed amount to cover its expense involved in international money transferring:
The minimum amount for withdrawal is $30, subject to a fixed service fee of $5, which means that a withdrawal fee of $5 USD dollar will be deducted from the amount selected. Besides, since deposit and withdrawal are both conducted in USD, thus conversion fees occur, from 0 to 150 pips. Here is the clear list of withdrawal fee for various payment methods:
Withdrawal Processing Time
Regarding the processing time, it differs according to the payment option you choose. With eToro,withdrawals carried out through Bank Transfer and PayPal can take up to 10 days to process, whereas withdrawals carried out via Credit/Debit Cards are processed instantly. When clients withdraw money by way of an e-payment method, it is common for it to take up to two business days for their withdrawal to be processed.
What should do if funds do not appear in your account？
There may an issue when you cannot receive your funds after submitting withdrawal request. Here is the instruction about how you should do when you encounter this problem:
1. On the dashboard of your eToro account, you can check the current status of your withdrawal request. Additionally, if you are concerned about the withdrawal of your funds, you can refer to the email you received in relation to the withdrawal. The email will provide you with the payment method and date of the transfer to which the funds were sent.
2. You should take into consideration the time when the withdrawal request was processed. It may take up to eight working days for the funds to appear in your account once they have been transferred.
3.As mentioned before, if you still do not receive your funds in the above instances,
you will need to contact eToros customer support staff immediately. Then the brokerage house will request that you provide them with a copy of the payment method statement showing the incoming and outgoing transactions since the time when they processed your withdarwak until when you contacted them about the withdrawal.
Please keep in mind that the details related to your payment should be visible to them, including your name, transaction dates, and the amount paid.
How to cancel withdrawal request？
In the case of an abrupt withdrawal request and then a desire to cancel it, you will need to follow the steps below:
1. You can access your withdrawal request by logging in to your trading account and clicking on the tab on the left that says “withdraw funds”.
2. After that, a message will appear on the screen. You can view the history of your withdrawals by clicking on the “Here” link.
3. There is a “Reverse” button located next to the withdrawal request that can be clicked on to reverse the withdrawal request. If your transaction status appears as “In Process”, this means that you will no longer be able to cancel your request if the status changes during the cancellation process.
4. Confirm that you wish to cancel the request by clicking on the “Confirm” button.
5. You will be refunded the full amount of your withdrawal, including any withdrawal fees, as soon as possible.