Solved: Withdraw Money & Crypto From Your eToro Account
Published September 14, 2021.
In today's online investing marketplace, there are many options at your disposal, whether you are participating in copy trading or buying and selling stocks. The world is your oyster. Of course, you might have some questions along the way, which is perfectly fine, no matter your skill level.
One of the most popular web investing platforms is eToro. If you have ever combed through the long list of social trading and investment hubs, you may have come across eToro.
If so, let's get to know the fundamentals of the eToro ecosystem, including withdrawing your money and cryptocurrency from your eToro account. Looking to withdraw money from your eToro investment account or bitcoin from your eToro wallet? Not sure how to place a withdrawal request on eToro? We have compiled a complete guide for these steps to ensure you know how to withdraw funds from eToro.
For more information, read our extensive eToro review.
Is It Safe to Withdraw Funds From eToro?
Yes, it is most definitely safe on eToro to withdraw funds. Your money can be taken out up to the value of the balance of your account. The process consists of withdrawing money to the bank account you used to deposit money.
Plus, eToro is regulated by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities & Investments Commission (ASIC).
Withdrawing Money From eToro
Here is a step-by-step breakdown of how to withdraw funds from eToro:
- Click on the "Withdraw Funds" tab in the menu on the left side of your screen.
- Insert the amount you want to withdraw in U.S. dollars.
- Fill in the electronic withdrawal form.
- Hit "Submit," and the money will go to your credit card, PayPal, or bank account.
Withdraw crypto from eToro wallet
On the eToro trading platform, you can withdraw crypto to an external wallet. Here is the step-by-step process:
- Hit the "Portfolio" button on your eToro account.
- Click on the cryptocurrency you would prefer to transfer.
- On the list of open trades for that crypto, click on the specific trade you would like to transfer.
- Visit the "Edit Trade" screen
- Touch "Transfer to Wallet."
- Finally, click on "Transfer" to start the process.
You will also receive a notification that confirms your request has been submitted. A "Pending Transfer" will appear on your eToro trade line.
It should be noted that you can cancel your request until the transfer is complete. Just keep looking out for the status of your funds.
eToro Withdrawal Fees
How much does it cost to withdraw money from eToro?
All withdrawal requests come with a $5 withdrawal fee. Plus, any withdrawals that are denominated in currencies other than the U.S. dollar will be subject to a conversion fee.
The website also has this disclaimer regarding your bank transfer withdrawal:
"Please note, you may be charged by the funding provider involved in the transfer (intermediary bank, receiving bank, or your credit card provider)."
How much does it cost to withdraw crypto from eToro?
Cryptocurrency investors will face a crypto transfer fee by eToro and a blockchain fee. This is a 0.5% fee. The minimum fee is $1 and the maximum fee is $50.
The fees apply to all the cryptocurrencies on the platform: bitcoin, ether, XRP, litecoin, bitcoin cash, and XLM.
eToro Withdrawal Time
How long does it take to withdraw money from eToro?
Once your withdrawal request has been completed, it would take several business days to see the funds in your account. Depending on your bank or payment method, it could take up to seven business days for your full eToro withdrawal to be completed.
How long does it take to withdraw crypto from eToro?
The withdrawal time for your crypto investment can take up to five business days. However, it might take a little bit longer if the company asks for some additional verification documents. You also need to factor in weekends and national holidays.
Be sure to note that there is a 60-day delay if you used a debit card for your crypto transactions.
eToro Withdrawal Limits
There is no maximum withdrawal amount for your eToro account.
The minimum withdrawal amount is $30, and you must have withdrawable funds available in your account.
How to withdraw money from eToro?
The funds are withdrawn using the same method as you deposited from, meaning that it is sent to the same account. Put simply, you can:
- Withdraw funds from eToro to Paypal.
- Withdraw money from eToro to your debit card.
- Withdraw funds from eToro to your bank account.
How to withdraw crypto from your eToro wallet?
Can you withdraw crypto from eToro wallet?
Yes, you can withdraw the list of supported cryptocurrencies from the eToro trading platform to an external wallet. This is done through the mobile application that is available on Android and iOS devices. All you need is your username and password for eToro's Money App.
How long does it take to withdraw crypto from eToro?
There are two waiting periods for eToro users.
The first is that if you funded your account with a U.S.-based online banking source, you will need to wait seven business days before you can start a transfer.
The second is if you added money to your account with a debit card, there will be a waiting period of 60 days before you can begin a transfer.
How to withdraw crypto from eToro wallet
- Visit the "Portfolio" tab on your eToro account.
- Choose the crypto you would like to transfer.
- When you see the list of open trades, pick the specific trade you wish to transfer.
- Find yourself on the "Edit Trade" screen.
- Click "Transfer to Wallet"
- Hit "Transfer" after you have reviewed the transfer's details.
Reasons why you can’t withdraw funds from eToro
There could be a couple of reasons why you cannot withdraw your money from eToro:
- If you used a debit card, you may only receive funds equal to the original deposit.
- If you are withdrawing more than the original deposit, eToro may use a different payment method listed on file or request bank wire transfer information.
- If the transaction is complete, and it shows next to the status of your funds, you might need to contact your bank for more information.
- Be sure to check your inbox or spam folder for messages from the eToro team.
Withdrawal problems are common, so do not panic if your withdrawal request does not go through right away.
How do I reverse an eToro withdrawal?
Here is a step-by-step breakdown of how to cancel or reverse your withdrawal request:
- Visit the withdrawal request page or head to the "Withdraw Funds" tab on your trading account.
- Hit the "Click Here" link when the pop-up message appears, allowing you to see your withdrawal history.
- Click the "Reverse" button that appears next to the withdrawal request.
- Confirm that you are canceling the request.
- The funds will be returned to your account.
It should be noted that if "In Process" appears in your transaction status, you can no longer cancel your request.
Withdrawing Your Money is Easy as 1-2-3!
Overall, withdrawing your money from your eToro account is as easy as 1-2-3. If it wasn't before, you know how to withdraw funds from eToro. You deposited your funds, made a profit from your initial investment, and now you wish to cash out and send your earnings to your bank account. Enjoy!