What fees does EToro have?
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Are you interested in the eToro trading platform? or you are trading on eToro but you don’t know what kind of fees eToro has. Please refer to this article for more detailed information.
Types of transaction fees on Etoro
When you open an account on eToro, you will not have to pay any fees. You get free account management, free commission. But you will have to pay the following fees:
+ Fee for the difference between buying and selling price (Spread)
+ Overnight fee
+ Currency conversion fee if the currency you deposit and withdraw is not USD.
+ Withdrawal fee
+ Stay active fee
1. Spread (Fee for the difference between buying and selling price)
Spread is the difference between the bid and ask prices. With eToro, each asset class such as stocks, currencies, CFDs, etc. will have different spread fees. Details for each asset class are as follows:
Stocks & ETFS
Spread for stocks and ETFs is 0.09%
eToro only charges overnight for CFDs and margin trading. Currently, eToro does not charge an overnight fee for no leverage BUY positions in stocks, cryptoassets, and ETFs.
The essence of using leverage is that you have little capital, but the exchange lends you more money to invest to increase profits. Exchanges lend you money, so they charge a fee to offset the interest on this loan. That fee is deducted daily and is also known as an overnight fee.
When trading on eToro, you do not need to remember the formula for calculating transaction fees. Instead, eToro provides you with an expected fee when you are about to open an order.
At the order window, you can see the specific fee for each order in the Popup window in the Swap Fees (daily & weekend) section.
For non-leveraged Buy orders, there is absolutely no commission fee. You also don’t have to pay any additional management fees or charges. This is a great advantage for eToro investors.
3. Currency conversion fee
In fact, eToro does not charge an account deposit fee. However, since deposits and withdrawals on eToro are made in USD, if users deposit/withdraw in other currencies, there will be a conversion fee.
For deposit/withdrawal channels such as iDEAL, Sofort, wire transfer, the conversion fee is as follows:
The conversion fees for other deposit/withdrawal channels (Credit Card, PayPal, Skrill, Neteller, RapidTransfer, UnionPay and Local Bank) are as follows:
4. Withdrawal fee
When you fund your eToro account, there are no fees. However, when withdrawing funds from the account, all withdrawal requests have a fee of $5. This is a very reasonable fee compared to today’s exchanges. By default you will withdraw USD, withdrawals from the account in any currency other than USD are subject to a conversion fee.
5. Stay active fee
If you do not log in to your account within 12 months, you will be charged a maintenance fee of $10/month which will be deducted directly from the available balance in your account.
Above we have briefly introduced to you some of the fees when trading on eToro. In general, the fees when trading on eToro are quite comfortable compared to what eToro brings to investors. Good luck to you!
* See more: The complete guide eToro from a to z
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