Latest eToro fees for 2018
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:
Zero, none, zilch – depositing is completely free – hooray!
Opening/ Closing a position fees
When opening a trade with any broker, like eToro, there is a traditional fee associated for using the service to place the actual 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.
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 / 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
Important note to make – Cryptocurrencies are exempt from overnight or weekend fees
The minimum you can withdraw is USD $50. There is a flat fee of USD $25 for withdrawals USD $50+, so the more you withdraw the cheaper it is. This does feel a bit expensive to me compared to other brokers. Withdrawals typically take 1-2 business days depending on the payment method.
eToro fees conclusion
Yes eToro fees look expensive, however they’re not really much different from other brokers in terms of the overnight and service fees. However, when you look at the volume of potential traders to copy and the award winning software, this really doesn’t matter in the end.
- FCA Regulated
- Copy Trading
- Mobile app
- Simple & friendly interface