What happens if I close my eToro account

BlogFebruary 17, 2022

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You no longer want to trade on eToro. Or have trouble with your eToro account? So you want to close your eToro account but don’t know what will happen after closing the account.

In this article, we specifically address the above issue so that you can take a close look and decide on the most appropriate course of action.

What happens after I close my account?

  • Once you manually close your eToro account, you can never reopen it again. The account’s transaction history is also not allowed to be transferred to any of your new accounts.
  • Remember that each investor’s eToro account username is unique. You cannot reuse the Username of a deleted eToro account.
  • The closed account’s registered email and phone number cannot be reused for the new account.

However, you can always create a new account using a new phone and email address. eToro allows users to own more than one account.

If you want to reuse your phone number and email, please contact eToro by opening a support ticket.

How to open a support ticket see detailed instructions here

Refund of the deposited amount when closing eToro account

With the amount you deposited into eToro when you delete your eToro account, you get 100% of the deposited amount (after deducting the 5 USD withdrawal fee).

  • With a verified eToro account: You close all open positions and make a withdrawal. After successful withdrawal, you proceed to close the eToro account.
  • With an unverified account: You cannot make a withdrawal. eToro actively refunds money to one of the deposit methods within the specified time.

If eToro needs account information for a refund, they will contact you via email to register your account. Please check your email regularly for timely information.

However, please make sure the large amount in your eToro account is more than 30 USD. That is the minimum amount you can withdraw from eToro.

I didn’t receive money after closing the account.

If you do not receive your deposit after closing your account, follow the steps below.

Double-check all the methods you have deposited. Because eToro returns one of those methods.

After checking, you still don’t see the refunded amount. Contact eToro support via Live Chat or support ticket.

  1. Open the ticket and tell them about your problem.
  2. When eToro contacts you, you must provide a transaction statement to prove that you are the depositor yourself. Or give a transaction statement to confirm you haven’t received the money.
  3. eToro then asks you to provide whatever payment method you feel is best for your money back.

This whole process will take about three weeks to 1 month. Please provide precise information for faster processing.

The above is what happens when you close your eToro account. However, if you do not log in for 12 months and do not cancel your eToro account, eToro charges an inactivity fee for your account. eToro charges a monthly inactivity fee of 10 USD/month on any remaining available balance. No open positions will be closed to cover fees. 

Please consider making decisions for your eToro account.

See instructions on how to close your eToro account here.

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.

Read more: etoro

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