How to withdraw money from eToro
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Our comprehensive eToro review discusses everything about the platform. On this page, we explain in more detail how to withdraw money from eToro. We also answer some common eToro withdrawal questions and give you a step-by-step guide on taking out your profits.
How to withdraw money from eToro. A step-by-step guide
Withdrawing your money from eToro is a simple process that takes just a few minutes. To begin, you will need to put in a withdrawal request. The guide below outlines the steps you can follow to withdraw money from eToro.
- Log into your account and click ‘withdraw funds’ in the side menu.
- Next, a pop-up will appear, showing you your available withdrawal balance. Click submit and you will see another tab where you can enter how much you want to withdraw. (Your withdrawable balance will differ from your total equity if you have any trades currently open).
- Enter the amount of money you want to withdraw and click ‘submit’.
- You will then be asked to enter the reason for your withdrawal. Click on the most appropriate reason and hit ‘submit’.
- Finally, choose your withdrawal method, press ‘submit’ and you’re done.
Your withdrawal will be processed according to the timescales associated with each payment method (more below). You can only withdraw money back to the same account used to deposit. For example, if you deposited using a credit card, you will need to use the same credit card for your withdrawal.
How long does it take to withdraw money from eToro?
eToro accepts many different types of payment methods and each one has its processing timeframe. From the time you make your request, it can take up to 10 business days for your money to reach your account. eToro Money is instant, while bank transfers can take much longer. Here’s a list of withdrawal processing times for eToro.
- eToro Money – Instant
- Credit/debit card – Up to 10 business days
- Bank transfer – Up to 10 business days
- PayPal – Up to 2 days
- Neteller – Up to 2 business days
- Skrill – Up to 2 business days
- Trustly – Up to 2 business days
- iDeal – Up to 2 business days
The above timeframes are just guidelines and withdrawals usually are returned to you much quicker. However, processing times can take slightly longer when withdrawing a large amount of money. If you plan on withdrawing a large sum, it is recommended that you contact your bank in advance to stop any delays.
How much does it cost to withdraw from eToro?
eToro charges $5 each time you want to withdraw funds from your account. It also has a minimum withdrawal amount of $30. A conversion fee may also be applied if you deposit or withdraw in any currency other than USD. You may also be subject to charges from your payment provider. There are lots of eToro fees and you should consider them carefully.
How to check if a withdrawal has been processed
On the eToro platform, you can check if your withdrawal has been processed by visiting the portfolio tab. Withdrawing from eToro can take a few days to process and if you’re still waiting for money to hit your account, it’s helpful to check on its status before contacting support for help. Here are the steps to checking the status of your eToro withdrawal.
- Log into your account and click ‘portfolio’ on the left sidebar.
- Select history by clicking on my portfolio tab at the top of the page.
- Click ‘net cashflows’ and you will be able to see your withdrawal status.
How to withdraw money from the eToro money app
To withdraw money from your eToro money account, you simply need to transfer or send it to your bank account. eToro money is a digital account offered by eToro users from select regions. It’s similar to a bank account and certain ‘club members’ also receive a Visa debit card that can be used as normal.
When using an eToro money account, you can deposit and withdraw to and from your eToro trading account without paying any fees. Withdrawals are also processed instantly when using the eToro money app.
How to cancel a withdrawal request on eToro
If you have made a withdrawal that has still not been returned, you can cancel it at any time until it has been processed. You can follow the steps in the guide below to learn how to cancel a withdrawal request on eToro.
- Log into your eToro trading account.
- Either visit the ‘net cash flow’ section in your account (instructions above) or click the ‘withdraw funds’ tab in the sidebar.
- You will see a pop-up appear. Hit the ‘click here’ button to view your withdrawal.
- Click the ‘reverse’ button to cancel your withdrawal. This will only work if your withdrawal has still not been processed.
What is withdrawing money from eToro like compared to other brokers?
Withdrawing money from eToro is similar to that of other brokerage platforms. eToro has a wider range of payment options available compared to others. However, its $5 withdrawal fee is higher than most other platforms. One benefit eToro has is its eToro Money account, which allows you to access your money instantly and without paying a fee.
Withdrawals are just part of using eToro. Many other factors should be considered before deciding whether to use the platform or not. For example, how to deposit funds on eToro and is eToro safe should be considered before you make your decision. Overall, withdrawing money from eToro is easy, although it can sometimes be slow and costly.
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