On eToro, most clients withdraw money either to take their profits or because they want to close and delete their eToro account.
How to Withdraw Money from eToro - The Complete Guide
There are only a few simple procedures involved in withdrawing money from the eToro site. Although the withdrawal procedure is very straightforward, you must be informed of all the rules and restrictions to successfully withdraw money from your account. How does eToro respond to withdrawal requests then? Here is a thorough article to guide you through the withdrawal without difficulties.
When Can You Withdraw On eToro?
On eToro, withdrawal processing is only done during business hours, which are workdays of the week; Monday to Friday. It is regarded as a non-working day if it coincides with a public or bank holiday.
All requests submitted on non-working days or after the deadline will be handled the next business day.
Although the process does have a time frame to be attended to, there is no set term or time limit for eToro withdrawals. Anytime during the day, verified customers can withdraw money from their accounts.
Withdrawing On eToro: A Step-By-Step Guide
The steps to withdraw money from your eToro account are as follows:
- Go to the "Withdraw Funds" tab after opening the trading platform. Pop-ups will appear as a result.
- Click the "Submit" button after entering the withdrawal amount.
- You will receive a few notices, such as missing out on other chances of losing your eligibility for benefits. Click "Continue" if you are unconcerned by this. Otherwise, press the "Cancel Withdraw" button.
- You will be questioned about your motivation for requesting a withdrawal. See the options to choose from:
- Taking profits out
- Financial need for private reasons
- Have not met your trading objectives
- The platform is inadequate for your demands
- Unhappy with the trade circumstances
- Switching to a rival
- None of the provided explanations
Pick the explanation that applies the most, and then click "Continue."
- Your withdrawal will be deposited in one of the prior payment methods you used to pay into your account, and you will be advised of this. Select "Submit Request" from the menu.
- Following that, you will receive a confirmation that your request has been received and an estimate of how long it will take to process. Additionally, it will display the real amount you will receive after deducting the $5 withdrawal fee and any additional if any, fees.
You can use both the web platform and the eToro app to withdraw your money.
How To Withdraw Money from Your ETFs On eToro
If you traded ETFs on the eToro platform and now want to withdraw your money, you can do so by moving your profit from the platform to your eToro Wallet. You can now move the funds from the wallet to an external wallet.
You must enter the same login information for your trading account (username and password) to access the eToro Wallet service when you do so for the first time.
Following these steps, you can withdraw an ETF from eToro
- Visit eToro to log in or into your trading portfolio.
- Select the specific ETF asset that you want to send.
- Fill out the electronic withdrawal form as necessary.
- Click "Submit" now.
Supported Withdrawal Methods on eToro
The amount of your withdrawal may be transferred by eToro to the original payment method(s) used to finance your eToro account. eToro will transfer the remaining funds to another payment method you used to fund the account if the funds you want to withdraw are larger than the amount you placed with a bank transfer or credit/debit card.
If you used multiple payment options, the following order will determine how the cash is transferred:
- Bank transfer
For this, You will need to give eToro your complete and accurate account information and the ABA routing number if you use this method.
- Using PayPal
Only if you added money to your eToro account using this precise payment method will you be permitted to withdraw money and transfer it to a PayPal account.
- Credit Card
The card to which the funds can be transferred is also the credit card you used to finance your account.
Withdrawing your assets from eToro is not as difficult as you think. In this guide, we broke down the steps necessary to facilitate an easy withdrawal from your eToro account. Now that you are aware of eToro's withdrawal process ensure you’re in line with their withdrawal policy to stay out of potential issues.
If you want to learn more about this platform, its features and what you can trade, you should read our eToro review.
There is a difference between the processing time for withdrawals and the time it takes to get your funds. For bank transfers, it's a maximum of ten days while for PayPal it's a maximum of two days.
As long as your withdrawal request is "Under Review," you can cancel it in your Wallet by clicking the blue History icon, then on the transaction, you want to stop.