eToro is a popular trading and investment platform. Through the platform, you can invest in stocks and ETFs, buy crypto, copy the moves of other investors, and more. If you have an account with eToro, you may be wondering how withdrawals work. Let’s break down the process step-by-step.
Withdrawing money from eToro
Withdrawing money from eToro is a straightforward process. If you have money in a USD-based investment account, simply follow these steps:
- Click on the Withdraw Funds button in the left-hand menu.
- Enter the amount to withdraw (the minimum withdrawal amount is $30) and select Next.
- Select your preferred payment method.
- Click Submit.
If you have money in an ‘eToro Money’ GBP or EUR account, follow these steps:
- In the eToro Money app, select Make Payment under the Cash tab.
- Either select the account you want to send the money to, or tap Add to create a new payee.
- Enter the amount you want to transfer and tap Continue.
- Enter a reference and tap Continue.
- Review the details and tap Send.
How long do withdrawals take with eToro?
How long it takes to withdraw money from eToro depends on the type of account you are withdrawing from and the payment method you have selected.
If you are withdrawing money from a USD-based investment account, the times are as follows:
| Payment method | Time to receive funds after withdrawal request |
| eToro Money | Instant withdrawal |
| Credit / Debit card | Up to 10 business days |
| Bank transfer | Up to 10 business days |
| PayPal | Up to 2 business days |
| Neteller | Up to 2 business days |
| Skrill | Up to 2 business days |
| Trustly | Up to 2 business days |
| iDEAL | Up to 2 business days |
If you are withdrawing money from an eToro Money account to a bank account, withdrawals are usually made instantly but can take up to two hours.
Note that if you are looking to get hold of your money quickly and you have a GBP or EUR eToro Money account, it could be worth transferring your money from your USD investment account to your eToro Money account and then transferring it to your bank.
The costs of withdrawing money from eToro
It’s worth noting that eToro does charge a fee to withdraw money from its platform. Currently, this is $5.
Additionally, any withdrawals sent in currencies other than USD are subject to conversion fees. These vary depending on location, payment method, and Club level, but can be as high as 3%.
eToro is not the only broker that charges withdrawal fees, however. Currently, Freetrade charges a £5 fee for same-day withdrawals while Interactive Brokers gives you one free withdrawal per month and then charges a £7 fee for any subsequent withdrawals.
There are a lot of UK brokers that don’t charge withdrawal fees though, including the likes of Hargreaves Lansdown and IG. If you’re looking for more information on these brokers you can find plenty right here at Good Money Guide.
Based in London, Edward is a distinguished investment writer with an extensive client portfolio comprising a diverse array of prominent financial services firms across the globe. With over 15 years of hands-on experience in private wealth management and institutional asset management, both in the UK and Australia, he possesses a profound understanding of the finance industry.
Before establishing himself as a writer, Edward earned a Commerce degree from the prestigious University of Melbourne. Complementing his academic background, he holds the esteemed Investment Management Certificate (IMC) and is a proud holder of the Chartered Financial Analyst (CFA) qualification.
Widely recognized as a sought-after investment expert, Edward’s insightful perspectives and analyses have been featured on sites such as BlackRock, Credit Suisse, WisdomTree, Motley Fool, eToro, and CMC Markets, among others.
You can contact Ed at edward@goodmoneyguide.com
