Is it easy to withdraw from Etoro?

cheffy

Has anyone made really big withdrawals from Etoro? And if you were able to withdraw, did it go smoothly?

kedgegravy

cheffy I took 3k profits from my cardano (ada) a few months back. I had no issues, took 2 days to clear in my bank account.

Polly

No issues with withdrawal. I have only withdrawn a few small amounts and they have all gone to my Paypal as that is what I was using initially.
The way etoro works is it refunds the money when you withdraw. So the transaction that you made to deposit is refunded. This way, there is a significantly reduced chance of fraud.
If they cannot refund because that method is no longer valid, or you have more to withdraw than deposits made, then they will use the secondary account information.
The deposit part will be refunded and the profit part will be a separate transfer to your nominated account. The transfer often takes longer than a refund.
My most recent refund completed in 2 business days and that was via Paypal.

cheffy

@Polly & @kedgegravy Thanks. Just like to make sure because I'm planning to invest around $10,000 initially and would really like to get some feedback first before I proceed signing-up with Etoro.

Polly

For those who are asking if it's easy to withdraw your money from eToro, the answer to that is yes, regardless if you're going to withdraw a small or a huge amount. However, it is important to keep in mind that your account should already have been verified in order to avoid any delays when cashing out.

Account verification is mandatory as it is required by regulators to prevent money laundering activities and account protection. It's really not that complicated and you will be asked to do this after you signed up for an account. You'll be asked to provide 2 documents:

1. Proof of identity: This can be your passport or any government-issued ID.
2. Proof of address: You can use your bank or credit card statement, utility bill (electricity, water or gas bill), phone or internet bill, etc. It needs to be within the last 6 months.

Also take note that the minimum amount you can withdraw per transaction is $30. For more information about eToro withdrawals, you may click here.