The broker offers a fair first time minimum deposit so that anyone can start trading, whatever their trading budget may be. In this article we will be taking a look at the eToro minimum deposit amount as well as the payment methods accepted to make the transfer of the funds.
eToro minimum Deposits
When you start trading online, each broker will require you to make an initial deposit of funds to our account. This first time deposit is needed so that your account has funds ready for you to start trading.
All brokers set a fixed amount for the initial first deposit, then any deposits made after that are usually set to a lower price. This is done so that traders have more control over how much they wish fund their accounts in the future.
For eToro the first time minimum deposit is just $200. Once the money is accredited to your account you will be able to start trading. Once the first time deposit is made, all other future deposits made on the platform need to be at least $50.
This is important to point out so traders realise that they don’t have to pay $200 each time they wish to add new funds to the account. The fact it starts from $50 is great as you have more flexibility with the amounts you wish to fund.
Whilst the initial minimum deposit with eToro is only $200, we also want to point out that this can change based on your country of residence.
For example if you are a resident in Australia, the first time minimum deposit is $50. This is also the same amount if you live in the USA and want to use eToro USA.
If you’re residing in either China, Russia, Hong Kong, Macau or Taiwan then the eToro minimum deposit is $500.
eToro Payment Methods
There are many ways that you can make your deposit with this broker. The broker accepts the following methods:
- Credit/Debit Card- MasterCard, Visa, Maestro & Diners Club
- Electronic/Online Wallets- PayPal, Skrill, WebMoney & Neteller
- Bank/Wire Transfer
- Yandex & Giropay
In terms of how long the transaction process takes, it all depends on which payment method was used.
For instance, with credit card or one of the electronic wallet options the money will be transferred to your account instantly. For wire or bank transfer it can take from 3 to 5 working days for the funds to come through.
How to Make the eToro minimum Deposit
It takes a few minutes to deposit money to your account. Just follow the steps below and decide which payment method you want to use:
- Make sure you’re logged in to your trading account
- When logged in, you’ll the see the option to ‘Deposit Funds‘. This is normally shown from the control panel. Click on it.
- Select the currency with which you want to make the deposit and the amount
- Then select your preferred payment method. Follow the payment steps for the chosen payment method as shown on the screen.
Is it Secure?
Yes, the complete deposit process is fully safe and secure. The broker uses SSL (Secure Socket Layer) technology to make sure that all personal info is protected.
eToro is also a fully regulated broker which means it has to follow financial rules put in place to protect traders against scams.
Currently the broker has regulation licences to operate from CySEC (no.109/10) and the Financial Conduct Authority (no.583263).
To learn more about this broker follow this link: https://tradingonlineguide.com/etoro-uk-review-and-fees/
To learn more about eToro USA click here: https://tradingonlineguide.com/etoro-usa/