Hi, I would like to better understand / corfirm my understanding of the eToro deposit process.

As eToro operates in USD only and my native currency is EUR, I'm looking for the cheapest and safest way to transfer funds.

As far as I can see, my best option is to have a SEPA transfer to their EUR account. When the money arrives it will be converted to USD?

Is there a way to protect myself from USD fluctuations of my investment horizon is long term?

Reg,

    21 days later

    Fluppiedupie007 When the money arrives in your eToro account, it will be automatically converted to USD based on the exchange rate at the time it was transferred. If you think that the USD might fluctuate in the future and this might be a disadvantage to you because of the conversion rates, then I suggest making a deposit while the forex rate is still favorable for you.

      a year later

      To deposit funds into your eToro account, you can use a variety of payment methods, including bank transfer, credit/debit card, and e-wallets. If you are looking for the cheapest and safest way to transfer funds, then a SEPA transfer to their EUR account is a good option. When the money arrives, it will be converted to USD at the current exchange rate.

      If you are concerned about fluctuations in the USD exchange rate over the long term, then you may want to consider hedging your position by investing in other currencies or assets that are less affected by currency fluctuations. You can also consider using a currency hedging strategy to protect yourself from currency risk.

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