How to delete your eToro account permanently
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You can use eToro to trade stocks, crypto, forex, and more, but the app isn’t for everyone. If you want to use another broker or stop investing, you can permanently close your account. Follow the instructions in this guide to learn how to delete your eToro account.
How to delete your eToro account on desktop and mobile
You can close your eToro account in just a few minutes, although for the closure to be finalised, it may take up to three days. eToro can be used on desktop computers and via its iOS and Android app.
Before closing your account, you must close any open positions and withdraw available funds. Once your funds are safely back in your bank account and any open trades are closed, you can follow the steps below to permanently delete your eToro account on any device.
How to close your eToro account using a computer
- Log into your eToro account and click ‘settings’ from the left navigation menu.
- Click the ‘Account’ tab from the settings menu.
- Scroll to the bottom of the page and click the button that says ‘Close your eToro account’.
- Choose a reason for why you are leaving from the drop-down menu. Next, click confirm.
- Your account will take up to 3 days to close.
How to close your eToro account using mobile
- You will need to download and install the eToro app from the app store onto your iPhone.
- Log into your account and select settings by clicking the hamburger icon in the top left corner of your screen
- Next, select the ‘Account’ tab from the available options.
- Scroll to the bottom of the page and click the link that says, ‘Click here to close your eToro account’.
- Select a reason for why you are leaving and hit ‘Confirm’. Your account will take up to 3 days to permanently delete.
What happens when you close your eToro account?
During the process of deleting your eToro account, you will be prompted many times with popups trying to convince you to stay. If you close your account eToro will provide information about what happens next. Below is a list of what happens when you delete your eToro account.
- Your account will be blocked and your profile will become private
- Your community posts will remain public, but you can contact customer support to make them private.
- The process of closing your account will take up to three days.
- eToro will email you when your account has been closed.
- If the remaining funds in your account are equal to or less than the withdrawal fee ($5 if outside the U.S.), you will not be able to withdraw the balance.
- You won’t be able to enjoy the eToro Club benefits, and you will lose your entitlement to any unpaid interest.
- The crypto in your wallet will not be accessible.
Why should you delete your eToro account?
You may want to close your eToro account because you no longer use the platform. eToro has an inactivity fee of $5 per month and if you are not using it, closing down your account is the easiest way to avoid paying any charges.
eToro offers a wide range of assets, but it is limited in some areas, especially the cryptocurrency market, where it only offers a selection of coins. If you’re an avid crypto investor and you want the option to trade a large number of coins, then you may want to close your eToro account and use a crypto exchange platform.
Investing and trading is difficult and not for everyone, so closing down your eToro account could be a good idea if you struggle to generate profits. Overall, the decision to close your account will be based on your own requirements and you can follow the steps we have provided above to permanently delete your eToro trading account.
Yes, You can open a new eToro account if you have previously closed an account with the broker. You can follow the on-screen instructions on the eToro homepage to open a new account.
It takes three days to permanently delete your eToro account.
Before you delete your eToro account, you need to make sure you have no open trades. You also need to withdraw any funds from your available balance.
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