How to verify your eToro account

Guide you to the most straightforward eToro account verification operation.

In particular, we have noted each implementation step. Please read the gloss carefully to verify your eToro account without errors. That will make it convenient for future transactions.

1. Why do you need to Verify your eToro account?

Verifying your trading account is required.

• To provide you with the best possible service and comply with financial service regulations.

Which eToro managed account is subject to the financial regulations of that country/region. Eg: eToro (UK) Limited, eToro AUS Capital Limited, eToro (Europe) Limited, eToro USA LLC…

• Your information is always kept confidential and is only used for compliance purposes.

Important:

• To avoid any account limitations, including, not limited to, trading, withdrawal of funds, and account closure, all clients should be verified as soon as possible.
• At any point, eToro may request additional identification documents following regulations.

2. Complete the information profile

Step 1: Personal information

When you first click on the button Complete profile on your live account,  you will be brought to a pop-up window.

You fill in personal information, including full name, gender, date of birth, address, and National insurance number.

Note: You cannot manually correct the entered address after completing the account verification. Make sure you give the same address as shown on your bank statement, or your proof of residence document.
Please see the types of documents accepted for verification here

Step 2: Trading experience and knowledge

Next, you will be asked about trading and your personal trading experience. Of course, you must be honest with your answers to comply with the sign-up process

However, to ensure exclusive use of eToro’s trading features, the Trading Experience section should not be set to the lowest level or tick the box “Never traded”. The same goes for the following windows.

That helps the account not be judged by eToro for inexperience and limits some features such as copying trades of eToro. This limitation of eToro is to ensure the risk level for customers who do not have much knowledge and experience.

Step 3: Financial Status

Next is to declare your financial status. This information helps eToro know the source of your money to invest on the platform, avoiding money laundering.

Some accounts may be required to provide additional proof of income. So please fill in the facts and make sure you can provide documents to prove the information filled out.
Not all accounts are required to provide, only accounts with information that needs more clarification.

3. Account verification

Step 1: Verify phone number

After doing this, you have to verify the phone number, which is straightforward. You’ll receive a code and enter it into the eToro website.

If you do not receive the verification code via SMS, please change to choose to accept the verification code via call.

Note: The phone number has not been used to register any eToro account before.

Step 2: Identity and address verification

Currently, eToro applies two ways for you to verify your account.

• Method 1: Automatic verification system

eToro is using a new identity verification system through a centralized information system. If your information is on this list when verifying your account, enter your identification number without uploading documents to verify your identity and verify your address. Just verify the phone number and agree to the terms, and you are done.

With method 1, eToro can request additional POI and POA later.

• Method 2: Download identification documents

If you are not in the banking information system or bypass the automatic verification step, you will have to upload documents yourself to verify your identity and verify the address. Please see the types of documents accepted for verification here.

Step 3: Personal tax identification number

The individual Tax ID depends on the country where you are residing. You enter your Tax ID.

Step 4: Accept eToro Terms and Conditions

Finally, you will have to accept the eToro terms and conditions. Read over them and then click read and accept.

The verification process can take a few days, and you will be notified once your account is verified. You can also follow your verification status on the eToro platform.

In the meantime, you can still make a deposit, which also helps your account gets verified faster.
Verified accounts have a green tick next to the username on the user’s profile.

If your documents are rejected, eToro will send you an email with a clear explanation of what you need to provide.

Please add eToro to your ‘safe sender’ list in your email settings to avoid losing the email.

Conclusion

To sum up, verifying an eToro account is a simple process, and it takes you no more than 10-minutes in total to complete. 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.

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