eToro Minimum Deposit Reduced to $10
Etoro which specialises in retail and social trading in the global markets has reduced its FTD or first-time deposit requirement to just $10.00.
The first time deposit limit is the minimum amount that a new customer needs to put into their eToro account in order to turn it live and be able to trade the markets.
By lowering the FTD requirement eToro wants to make investing more accessible and user friendly and that may entice more customers to open and activate an account.
Clients of eToro can make fractional trades in most of the markets that eToro offers.
So although $10.00 is a very small amount of money to invest, it can be put to work and new clients can test the water, by perhaps buying $10.00 of a cryptocurrency, which could rise sharply in value in the same way that Shiba Inu and Dogecoin did last year.
eToro as a business
eToro had been expected to become listed, via a merger with a US-listed shell company, or SPAC. In a deal that would have valued the multi-asset brokerage business north of $10.00 billion.
However, the merger was delayed in December and the markets have subsequently turned sour on growth and technology stocks.
US online broker Robinhood has seen its share price fall by more than- 65% over the last quarter and it seems likely that we will have some time to wait before eToro feels comfortable with the market and looks to list.
eToro has surveyed its client base and found that traders who have been dealing in cryptocurrencies for between 1 and 3 years are more likely to consider investing in stocks and other assets, in the future.
Against that background, allowing traders to open an account with just $10.00 could be seen as seeding the client base of the firm.