How to Complete Your eToro Account Verification
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Even though you are still enabled to trade and deposit into an eToro account without verification, there are some outstanding benefits of verifying your eToro account from the beginning, including:
- Full trading capability
- The faster withdrawal process
- Especially, no limitation on your deposit (unverified accounts are limited to a total deposit amount of €2000)
So all clients need to provide requested information and verify as soon as possible.
And to get your eToro live account up and running, you need to perform 2 processes: complete your personal information first and then verify your eToro account. Below are specific steps you should follow to activate your eToro account:
1. Completing Your Personal Information
The first step on the road to your eToro account verification is confirming your personal information.
When you first click on the button “Complete profile” on your live account, you’ll be brought to a pop-up window.
From the beginning of the pop-up windows, you will be asked to confirm your basic name, address, and personal information.
When finishing, you will be presented with some short quiz questions designed to assess your level of investing experience and trading knowledge.
By testing their prior financial knowledge through questions like this, eToro could better understand your need and how to best accommodate your demand as a trader.
These types of questions, such as your risk tolerance, are beneficial to you. Based on your answer, eToro will mitigate risk for new users. And some limits may automatically be adjusted by eToro after opening an account (determine your suitability for leverage, for instance).
Then, you will have to answer a few short questions related to your employment, individual income, and other financial details.
Now, you have completed 70% of your profile and move on to the next process: Verify Your Identity.
Notes: You had better be as accurate as possible when filling out this form as eToro will use these answers to tailor their service toward your trading needs and create the best trading environment possible for you. Furthermore, this also potentially helps accelerate the verification process.
In case the system finds you provide inaccurate answers to some of the questions, it may cause problems during the authentication process later, and your account even might not be approved. So, be careful!
2. Verifying Your eToro Account
You’re almost done with the verification process for your eToro account. There are only a few more verification steps to complete. The first step is to provide your national ID, then verify your phone number, and the last is to fill tax identification number in the form.
For preparation, the documents required for a successful account verification include:
- Government-issued ID
- A verifiable phone number
- Tax Identification Number
All this personal information provided to eToro is only used to ensure compliance and kept strictly confidential both by the CySEC regulations and particularly within Europe where GDPR.
Providing your national ID
Verifying your phone number
Simply input your phone number, and then enter the SMS code you receive to verify:
Once you have completed this step, you will be directed to the final step for your eToro account verification.
Providing Tax Identification Number
So you’ve completed all of the steps required to open your eToro live account.
You might be wondering why your eToro live account verification is still pending. It simply takes time to process the information you provide.
The verification process will be normally completed within 24 hours. And the final confirmation will be sent to you via email.
You can still make your eToro first deposit from $200 to a maximum of €2000 and trade freely within your account during this time.
To sum up, verifying an eToro account is a simple process, and it takes you no more than 10-minutes in total to complete. The verification of your trading account is required to provide you with the best possible service and comply with financial service regulations. Hence, traders on eToro are advised to verify their accounts as soon as possible.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.