Sunday, September 25, 2022

eToro Fees: A Guide for New Users

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Do you plan to register on eToro? Did you read all their terms and rules? Below, you can see an overview of their fee structure and find out whether they are lower or higher than on other websites. Be sure to take this data into consideration while making the final choice.

To start with, let us have a few words about the service itself. It is a well-known and trusted online trading platform, which offers a full variety of instruments and assets: from currency pairs, stocks, CFDs to cryptocurrency. One must also mention that this source provides well-developed functionality for copy trading ― a trading method when a beginner copies trades performed by professional traders.

Now, let us return to eToro fees. First, they offer US stock and ETFs trading for free. No hidden commissions or limitations. As for CFDs, there is no separate commission, but it is already included in spreads, which vary depending on the currency pair but reach 1 pip on average. Speaking about cryptocurrency, the scheme is similar. For example, the spread for Bitcoin is 0.75% as of now, Ethereum ― 1.90%. Also, one must pay 0.5% for coin transfers. Another aspect that attracts much attention is deposit and withdrawal commissions. On this platform, one can make deposits absolutely free of charge, regardless of the sum or frequency. The initial deposit minimum is $50 for the overwhelming majority of countries. A withdrawal fee is $5, and a minimum sum for withdrawing is $30. There are also commissions for conversion ― from 50 pips. And, in the end, one must take into account that there is an inactivity fee ― $10 per month. It is charged when a trader does not login into his account for a year.

Also Read: eToro Australia: Should You Try It?

To sum up, the fee system offered by eToro is easy to understand. Besides, compared to other online brokers, their commissions are relatively low. So, we can safely recommend you turn to this source.

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