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5 Common Questions About Fund Withdrawal from eToro
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Common Questions About Fund Withdrawal from eToro
- How do I withdraw money from eToro?
This is the obvious question. And one that’s very easy to answer!To get more news about eToro Fund Withdrawal, you can visit wikifx.com official website.
Customers can withdraw funds from their eToro account at any time. The amount of withdrawal should match your eToro account balance. This includes a 5 USD withdrawal fee as well.Once your withdrawal request has been accepted, you will receive an email confirmation with information of the payment system used to send your funds. You can also check the status of your withdrawal request in your eToro dashboard.
2. How much is the eToro withdrawal fee?Despite being commission-free, eToro charges a fixed 5 USD withdrawal fee. This fee is waived if you are a platinum or above eToro Club Tier member.
For Malaysians cashing out in ringgit (MYR), you’ll be charged an additional conversion fee as eToro only uses USD as a trading currency on its platform. The MYR/USD conversion fee is 200 pips (2% of the total withdrawal amount).
3. What are the eToro withdrawal methods?
Because of anti-money laundering laws, eToro only allows users to withdraw funds the way they deposited it. This is how eToro ensures its withdrawal methods are protected against money laundering, terrorist financing activities, and financial crime.This means that funds are withdrawn in the same way as they were deposited in the eToro account and transferred back to the same account. For example, if you deposited money with your credit card, then the money will be sent back to your card upon withdrawal.
4. How long is the eToro withdrawal time?As with most online brokers, withdrawal isn’t instantaneous. That may not be a bad thing, especially if you’re the sort to change your mind halfway (if your withdrawal request is still “Under Review”, you may cancel anytime through your Portfolio). Overall, eToro has reasonable withdrawal time frames.
eToro will take up to one business day to process your withdrawal request. Expect to wait another 2 – 8 business days for the funds to appear in your account. The specific time it will take for you to collect your payment is determined by the payment method you choose:
5. Does eToro have a maximum or minimum withdrawal cap?
However, the platform doesn’t have a maximum withdrawal cap. The maximum withdrawal cap is the amount of unused funds in your eToro account.We don’t recommend you to withdraw in small amounts as you will incur high payment fees. Instead, it’s better to reinvest your money or take it out in one lump sum when needed.