Latest eToro fees for 2018
~ 2 min read, updated 01/11/18
eToro is undoubtedly the worlds largest social trading platform, with over 7m users globally. However, what does it cost to join and what are the costs of using the platform? This quick guide will explain all eToro fees:
eToro sign up fee/ eToro sign up bonus
Signing up to eToro is totally free with no hidden charges.
Unfortunately, eToro doesn’t offer any sign up bonus, however it does provide a free $100,000 worth of virtual funds to practice with in it’s Demo account. Check out the eToro demo account here.
Zero, none, zilch – depositing is completely free – hooray!
Copy trading fees
There are no fees for copying trading. If you’re only doing this then the only fees you will pay are withdrawal fees.
Trading fees / Spread
When opening a trade with any broker, such as eToro, there is a traditional fee associated with using the service to place the trade. This is called the spread. Fees generated from the spread are charged at the closing of a position only, not at the opening on eToro. eToro update there fees form time to time and apply these updates to any open positions, so it’s good to keep any eye on them.
Spreads are measured in pips or % depending on what you’re trading. Below are the typical spreads for crypto currency trading (please note that these can change):
Overnight fees / weekend fees
You will pay fees holding an open position on a trade overnight or when the market has closed over the weekend. The amount varies from what asset your trading, from indices to stocks to currencies it’s slightly different. Like spread it can change also over time, so your best bet is to keep any eye on this – https://www.etoro.com/customer-service/market-hours-fees
The minimum you can withdraw is 50 US Dollars. There is a flat fee of 25 US Dollars for withdrawals of 50 US Dollars or more, so the more you withdraw the cheaper it is. This does feel a bit expensive to me compared to other brokers. However, once you start making some serious profit, these withdrawal fees don’t seem that much. Withdrawals typically take 1-2 business days depending on the payment method.
eToro Fees conclusion
Zero fees on CopyTrader product is great, meaning you can maximise any profit you create.
However, when opening your positions, on face value eToro fees looks a little expensive. That said, the fees that they charge really aren’t much different from other brokers in the industry in terms of the overnight and service fees. However, eToro is undoubtedly the market leader, when you look at the volume of potential traders to copy and the award winning software, the fees won’t hurt your profits.
- FCA Regulated
- Copy Trading
- Mobile app
- Simple & friendly interface