If you are confirmed that you want to trade on eToro and are pondering where to start, the first thing you need to do is create an account.
Want to deposit funds on eToro and if you understand the techniques of depositing then you are acquiring the capabilities of a trading platform to enjoy trading in CFD, purchasing and selling of market shares and cryptos.
In this blog, we will talk about adding money to an eToro account.
The minimum amount for adding to the eToro account is different in the different countries i.e. $50, $10, and $1000. But the succeeding deposits might decrease to $50.
What is the need to deposit before starting trading:
Trading on eToro is the same as formal trading so you need to invest first in it and then start buying or selling stocks.
When you deposit money to the account, you can go for techniques of investment to grow slowly. If you understand the features of CFD trading, start making additional deposits in order to deposit in different stocks.
Note: The currency used for deposit is US Dollars. If you are from a different region you need to convert the currency to US Dollars by paying the fee for conversion. The currencies approved by eToro are: EUR, USD, GBP, AUD, RMB, CZK, DKK, IDR, MYR, NOK, PHP, PLN, SEK, THB, VND
Deposits on eToro
The minimum deposit is $50 in some countries and others is $10 and also some other countries reach the minimum amount to $1000. Unless you deposit money, you cannot start your trading on the eToro.
The maximum deposit is $10,000 and also the per day limit for depositing.
What are the methods to be used for adding funds to eToro:
- Credit or Debit Cards
- Online banking
- Wire Transfer
- Other payment methods
Credit or Debit Card:
If you select credit cards for adding funds then just enter the card details and wait for the process to complete. Once complete, get the confirmation message on the device. Similarly, using debit cards for adding the money you need to follow the same method.
eToro add funds in Mobile App:
If you select the PayPal option for adding funds then follow the steps below:-
- Click on the eToro app, then tap on “Deposit Funds”.
- Next, select PayPal as the mode of payment, and after that tap on the submit button.
- You will land on the login screen.
- Type the username and password and click the Login tab.
- The window for payment will display on the screen showing the rate of exchange.
- Now, tap “Submit”,
Deposit should be safe and secure:
When you add money to eToro then you need to be tension free as the account is secured under SSL guarding your funds and it is used by reputed banks.
How do I add funds to eToro?
The following steps that you are required to follow:-
- Firstly, log into the account.
- Next, tap on “Deposit Funds”.
- Fill in the amount and pick the currency.
- Enter your desired amount and choose your currency.
- Pick the method from the list available.
- Now, tap on the “Deposit” in order to confirm the transaction of the deposit.
A message will be sent to you Yco firming the deposition.
Is it possible to funds from others’ accounts to my eToro account:-
Possibly no, you need to have the name on the account for transferring money to your eToro account. This is against the policies as mentioned in the terms and conditions.
You can create a joint account if you want to move fu ds to the account. As you create the joint account both parties can deposit and withdraw funds.
Suppose you picked a third-party method for payments and no joint account then your account will be shut down and the balance remaining is credited.