Guide How to register with the eToro broker 2020

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Guide: How to register with the eToro broker (step by step)

Have you ever seen a green logo in the shape of a bull’s head?

If so, it is very likely that it’s been the logo of the eToro broker, a platform that is becoming increasingly popular amongst traders all around the world. With an increasing interest in this broker, there has also been a number of questions regarding the registration process, as well as other things related to the broker.

This broker offers a very user-friendly platform, social trading (copying trades) and some other benefits that make it worthwhile to use for trading in financial markets.

If you’re interested in basic things like fees, demo account, social trading and other things about this broker, be sure to read our eToro review.

However, because of the growing number of queries, we have decided to prepare a complete (but simple) guide for you to help you with the registration process.

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So, let’s do it – step by step registration process with the eToro broker.

How to register with eToro?

Step 1: Go to the eToro broker website – you’ll find the link to the page here – and click on the green Join now button . This button will redirect you to the first (short) registration form.

eToro broker home page

Step 2: Fill in the form with basic personal information, confirm your agreement with the terms and services and continue via the Create Account button . For faster registration, you can also use your Facebook profile or Google profile.

Step 3: If you have registered using the traditional method (via email account), you will receive an e-mail confirmation that you need to open and click on the attached link . This will verify that you have entered the correct e-mail address. You can sign in immediately after verifying your account.

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Step 4: After you have signed up in the eToro broker platform, you have two options to go with. Either you can deposit money directly into your trading account (but no more than 2000 EUR – your account is not yet completely completed and verified) or you can continue with the verifying and fill in the necessary information .

Once you have completed your profile completely, you will be doing so remove all transaction limits and other restrictions that made your account incomplete – see the picture below.

Our advice: Completely fill in the information in the profile first.

Continue with the Complete Profile button in the upper left corner. If you want to deposit some money right away, click the Deposit Funds button in the lower-left corner.

Or do none of the above and use the demo account that eToro offers for free.

Step 5: If you’ve decided to completely fill in the information in your account first, you will face the 12 following steps of verification.

These are simple steps in which you fill in basic information, plus additional information about your trading goals, what assets you want to trade and so on. Have you never registered with any other forex or CFD broker? You don’t have to worry! This is common practice with all regulated brokers. Any broker who wants to be regulated in some way (eToro EU is regulated by CySec) is obligated to ask these questions.

It starts with this step and a few couples after.

We know that the questionnaire is not short, but it is necessary to fill it out. Try to fill out the questionnaire as best as you can and make sure you understand the terms. In case the system finds you to be a “risky trader” and if you incorrectly answer some of the questions, your account might not be approved. Be careful!

Step 6: After successfully completing your profile and the eToro broker questionnaire, a pop-up window will appear. Your account now has a fully completed profile. However, to unlock all features, you need to verify the profile by sending the respective documents – see next step.

Step 7: If you have already registered with a regulated Forex / CFD broker before, you know that trading account verification is not difficult or anything unusual or dangerous. Brokers have an obligation to verify accounts and unfortunately, nobody can avoid it. You will need four things to verify your account: phone verification (via SMS), verification of your address (bank statement, energy bill, etc. …), passport/identity document and tax identification number (= your personal identification number).

That is all – within a few minutes can have everything photographed and have the documents ready to be uploaded.

TIP: As for the document for address verification, a bank account statement that you can download from your internet banking within a few seconds or personally request it at your nearest bank branch can be used.

So, that’s all you need to verify your account. Try to upload the documents in the requested format, otherwise, the platform will return them to you and ask you to send them again.

Step 8: If you have uploaded everything as you should have, your account will most likely be verified within a few hours and then you will have a 100% functional trading account. My account has been verified in about 3 hours, but it can take up to 3 business days as shown below. You will receive an e-mail confirming the verification result.

Registration is now over, congratulations!

So, what else?

Now you may be wondering how to proceed. Don’t worry, you have several options. You can simply deposit funds into your account and start trading, or you can expand your knowledge with the help of the eToro Academy – it’s up to you.

Note: Your deposit is still limited to EUR 2,000 for as long as your account is not fully verified (you will receive an e-mail confirmation).

eToro Demo Account

If you do not want to hurry things and you would rather wait before trading with actual money, you can still train your trading skills using the demo account (eToro calls it the virtual portfolio), in which you can get the feel of the whole platform. You can go to the demo account right after registration by clicking the Go to virtual portfolio button , or later via the button in the left corner, under your name.

We personally recommend that you try the eToro demo account first. You will become familiar with the eToro platform, make a few trades, and get the feel of the platform.

eToro social trading (copy trading)

Social trading, or copying people’s trades, is a feature that made this broker famous years ago. It is not, of course, the only broker to offer this feature, yet it is often mentioned when it comes to social trading. So, what exactly is it?

The principle is simple; you choose a trader from the eToro platform (also possible in MetaTrader 4) and you trade accordingly to his behavior. Specifically, you copy his entered trade orders. In the eToro platform, you will find social trading under the Copy people button.

How to choose the right trader to follow? Do you have any guarantees? We discussed this and even more about social trading in our article – Copy Trading: Easy profit or big risk?

eToro Social Trading

If you’re new to trading, you should definitely take your time. You need experience, time and especially knowledge. Doing something head-on might not pay off. If you want to improve your trading education, we recommend reading the following articles:

  • Complete Forex Trading Overview – History, why forex, money management, etc. …
  • Technical Analysis Series – One of the two basic strategies for trading (important!)
  • Money Management Category – How to handle money and what to watch out for?
  • Forex Trading Strategy – For more advanced traders. In the beginning, you will need technical and fundamental analysis (the second basic type of analysis).

If you have any questions about the eToro broker or trading in general, please, let us know in the comments. Good luck.

Author

More about the author J. Pro

Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author

How to Sign-up with eToro

Planning to sign-up an account with eToro but don’t know if you have all the required information to complete the process?

Here’s a step-by-step guide on how to register with this brokerage firm.

Do take note that this process is for registrations that were done in the UK and the steps may vary for other locations.

    • Open the eToro website: www.etoro.com and click on the Join Now button.

eToro UK homepage

    • Here’s the deal:You have the option to sign-up using your Facebook or Google account. If you wish to use these accounts to register with eToro, click on their corresponding buttons to continue.Otherwise, you may proceed with the traditional sign-up process where you need to enter your first and last name, preferred username, email address, preferred password, and phone number.Click on the first checkbox to accept the Financial Product Terms, Product Disclosure Statement, and Financial Services Guide.

    Click on the second checkbox to acknowledge that your information will be used in accordance with their Privacy Policy and Cookie Policy.

    Click on the Create Account button to continue.

    eToro registration page

    eToro eToro Watchlist

      • A pop-up window will appear regarding the process of completing your profile. Click on the Continue button.

    eToro Complete Profile page

      • Fill-in your complete personal details including your name, middle name, last name, gender, and birth date. Click on the > button to continue.

    eToro registration details

      • Fill-in your complete address including the street, number, city, postal code, country and passport number (this should be to your country of citizenship).Check the box if you’re not a citizen or not born in the US.

    eToro registration – address details

      • Select your trading experience. If you have never traded before, check the box for Never traded.

    eToro questionnaire – trading experience

      • Select your level of trading and educational knowledge. You may select one or more answers. Check the box if you have no financial knowledge.

    eToro questionnaire – trading knowledge

      • You will be taken to the trading knowledge assessment section. Be sure to mark the correct statements

    eToro questionnaire – trading knowledge assessment

      • Select the instruments that you wish to trade on eToro. You may click more than 1 instrument.

    eToro questionnaire – trading instruments

      • Select your trading frequency and the duration of your open positions.

    eToro questionnaire – trading frequency

      • Select the statement that best describes your purpose of trading with eToro.

    eToro questionnaire – trading purpose

      • Select the amount that you’re expecting to deposit for the entire year and choose the best risk scenario that best describes your yearly investment expectations with eToro.

    eToro questionnaire – deposit amount

      • Select the sources of the funds that you will be using for your investments on eToro. You may choose more than 1.Select your occupation from the list, enter the name of your company, your net annual income and your total cash and liquid assets (this includes savings accounts and brokerage accounts).

    eToro questionnaire – financial status

      • You will then be taken to the result of the assessment based on the information you provided. If the result shows that CopyTrading is not suitable for you, your Copy trading activity will be limited.You will also be advised to review and update your profile should there be changes in your situation or trading objectives.Click on Review Profile to go back and change the information you provided. Otherwise, click on Confirm.

    eToro questionnaire – source of funds

      • You will be taken to the verification window. Click on Complete Verification to enjoy faster processing of your withdrawals, removing your deposit limits and getting a verified checkmark.

    eToro account verification

      • You will be required to verify your phone number. Make sure that you entered the correct digits and click on the Send SMS button.

    eToro phone verification

      • Enter the code that you will receive on your phone and click the Verify button.
      • Once you have verified your account, you can now deposit the minimum amount using any of the supported payment methods.

    eToro deposit page

      • After completing the deposit process, you may now start trading with eToro.

    eToro trading platform

    Are you ready to register with eToro? Click on the button below to get started!

    eToro Minimum Deposit Guide 2020

    Trading with eToro means you are part of a globally-respected broker with one of the widest ranges of markets and resource bases anywhere.

    Reading our eToro trusted review will put you on the right path if you have just started trading or you are an experienced trader who has decided to open an eToro account.

    Here we will delve deeper on a few points related to eToro. These will be focused around the base currencies which are available, and the eToro minimum deposit which will apply depending on your funding method and account type.

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    eToro Account Base Currency

    The account base currency is that which you can trade in with the broker.

    With eToro, this base currency is limited to USD only.

    With that said, you can actually deposit any currency you wish. The only point here is that the currency you do deposit would then have to be converted to USD in order to trade. This conversion would incur a fee.

    eToro Deposit Methods and Fees

    As you would expect from a major forex broker, eToro makes several funding methods available for your convenience. Let’s take a closer look at each of these and how the minimum deposit for eToro impacts each of them:

    Wire Transfer

    eToro wire transfer deposits are available to traders worldwide. With such transfers eToro fees are not applicable if you deposit in USD. If you deposit in another currency though, you will have to consider the conversion fee mentioned above. Your bank may also charge a fee, so you should double-check their policy in this regard.

    The eToro processing time on wire deposits is 3-5 business days and in regard to the eToro minimum deposit on wire transfers, the first will be equal to that which applies to your account type. From the second deposit, the eToro minimum deposit is $500 on wire transfers.

    Credit/Debit Card

    Credit card is one of the main payment method for almost all the forex trading low minimum deposit brokers.

    Naturally, credit card deposits are available through eToro as well. They accept Visa, MasterCard, Diner’s Club, and Maestro so you have a lot of options. The deposit time here is also instant so you can trade with your deposit immediately.

    When it comes to fees on these deposits, again there are no eToro deposit fees if your deposit is in USD. If you deposit another currency then you will have to pay the conversion fee.

    Again, the first deposit minimum will correspond to that of your account type. Going forward from that, the eToro minimum card deposit will be $50. You should also note that not every card type will be accepted in every location around the world.

    eWallets

    eToro deposits through certain eWallets are facilitated. Paypal, Neteller, and Skrill are all accepted deposit methods currently. As with the other methods, if you deposit in USD you will not incur any fees. The conversion fee will come into play though if you deposit with another currency.

    The first deposit, as with other eToro deposit methods, will match what is required by your account type. Subsequent deposits must be at least $50.

    When it comes to processing time, both Neteller and Skrill are instant whilst Paypal can take up to 7 days to become available. Skrill also provides for rapid transfer in the majority of EU countries. EUR, USD, and GBP are all available to deposit in this way.

    WebMoney, GiroPay, and Yandex may also be available depending on the country where you are located and again you should note that every deposit method may not be available in every country.

    eToroX Deposit

    eToro has recently launched their own platform to facilitate crypto trading. This is known as eToroX and you can also deposit cryptocurrency into this account. This means that you can both deposit cryptocurrency that you may have, and that you can transfer crypto bought on eToro to the platform.

    The eToroX platform creates separate wallets for each cryptocurrency that you are holding. You should keep in mind that there may be fees depending on where you transfer your crypto from in order to reach the eToroX platform. With that said, the crypto fees in the sector and particularly when it comes to eToro are generally very low.

    Other eToro Deposit Methods

    There are of course other methods available when it comes to funding your eToro account. These will be localized to fit the region and specific country you are living in and the fees and the minimum deposits on eToro here may vary.

    In Malaysia, Thailand, Indonesia, and Vietnam, local bank transfers are available to make your eToro deposit. These transfers are typically instant and at the moment the only limitation we know of comes in Vietnam where the maximum funding limit stands at 100m VND which is equal to around $4000.

    In the United States, ACH fund method is available and this can be processed within two business days. Finally, China Union Pay is available for instant deposits within the country.

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    eToro Minimum Deposits

    Having taken a detailed look at the various funding methods eToro make available to you as a trader, it is time to dig a little deeper in the area of eToro account types. Here we will see how these come into play when determining the minimum eToro deposit you are subject to.

    Standard Account

    If you are an eToro Standard account holder, you will have noticed that the eToro minimum deposit amount requirement has changed a number of times recently. At the moment, the minimum deposit here varies depending on the country you are from though it generally stands at $200 with a few exceptions.

    These exceptions are the USA ($50), Australia ($50), Russia ($500), China ($500), and Israel ($10,000).

    A final note here is to mention that if you have not completed eToro verification, the maximum you can deposit in total will be $2,250.

    Corporate Account

    With an eToro corporate account, as mentioned above, you can trade under the name of your company. If you are holding this type of account, an eToro minimum deposit of $10,000 will apply. eToro verification on corporate accounts also needs to be completed before you can trade at all.

    Related Guides:

    Deposit Bonus

    eToro bonus amounts and deposit bonuses are unfortunately not available at this time. This is in part for EU traders at least, related to being compliant with ESMA regulations which eToro must fully be given that they are regulated by CySEC and other respected bodies (learn more on this in our eToro review).

    This also prohibits any kind of eToro deposit bonus being given to you by eToro.

    This does not rule out the possibility of future eToro bonuses, but they are currently not being offered.

    eToro
    • Regulated: CySec, FCA, ASIC
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    • Min. Deposit: $200
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    62% of retail CFD accounts lose money

    eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

    Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

    Past performance is not an indication of future results.

    Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

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    eToro
    • Regulated: CySec, FCA, ASIC
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    • Min. Deposit: $200
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    • Min. Deposit: $200
    Open Your Account!