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eToro Review

Overall, eToro is considered low-risk, with an overall Trust Score of 91% out of 100eToro is a well-regulated broker that has regulations with CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, and the FSA. eToro is a reputable broker for Kenyan Traders. eToro is currently not regulated by the Bank of Botswana.

Updated : October 14, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 50

Regulators

CySec, FCA 

Trading Desk

None

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

eToro Overview

eToro Overview

👉 Overall, eToro is considered low risk, with an overall Trust Score of 93 out of 100. eToro is licensed by four Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). eToro offers a single trading account with a Retail or Professional setting option.

👉 eToro is one of the most well-known and widely used trading platforms and social investing networks in the business, having been around for over a decade.

👉 The exchange provides a wide variety of assets for trading, such as foreign currency, equities, cryptocurrencies, commodities, and exchange-traded funds (ETFs).

👉 In January 2007, a group of entrepreneurs developed eToro to make trading possible for anybody without the need for traditional banking systems. eToro’s founders, Yoni, and Ronen Assia, have assembled a team of seasoned specialists in finance and technology to run the company.

👉 eToro accepts Botswanan clients and has an average spread from 1 pip with zero commission charges. eToro has a maximum leverage ratio of 1:30 (retail) and 1:400 (Pro), and a demo and Islamic account are available.

👉 The eToro proprietary platforms are supported on web browsers and mobile devices. eToro is headquartered in Tel Aviv-Yafo, Israel, and is regulated by CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and SIPC.

 

eToro Distribution of Traders

Distribution of Traders

👉 eToro currently has the largest market share in these countries:

➡️ United Kingdom – 15.2%

➡️ Italy – 14.2%

➡️ Germany – 9.04%

➡️ Spain – 8.9%

➡️ France – 8.26%

 

Popularity among traders who choose eToro

👉 eToro is one of the Top 25 brokers for Botswanan traders, particularly those who engage in social trading, despite not holding a sizeable portion of the country’s derivatives market.

eToro At a Glance

🏛 HeadquarteredTel Aviv-Yafo, Israel
🌎 Global OfficesCyprus, United Kingdom, Israel
🏛 Local Market Regulators in Botswana• Ministry of Finance and Economic Development (MFED)
• Bank of Botswana (BoB)
• Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
💳 Foreign Direct Investment in Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded2007
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Twitter
• Facebook
• LinkedIn
• Instagram
• YouTube
⚖️ RegulationCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC
1️⃣ Tier-1 Licenses• Financial Conduct Authority (FCA)
• Australian Securities and Investments Commission (ASIC)
• National Futures Association (NFA)
• Financial Industry Regulatory Authority (FINRA)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
3️⃣ Tier-3 Licenses• Financial Services Authority (FSA) of Seychelles
🪪 License Number• Cyprus – 109/10
• United Kingdom – 583263
• Australia – AFSL 491139
• Seychelles – SD076
• United States (NFA) – 0384298
• United States (FINRA) – CRD#: 298361/SEC#: 8-70212
⚖️ MFED, BoB, or NBFIRA RegulationNo
✔️ Regional RestrictionsCanada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor AccountsOne Standard Live Trading Account with the option for Retail and Professional
✔️ PAMM AccountsYes
💻 Liquidity ProvidersNone indicated
✔️ Affiliate ProgramYes
📱 Order ExecutionMarket Execution
📊 Starting spread1 pip
📉 Minimum Commission per TradeFrom $1 per share
💰 Decimal PricingUp to 5 digits after the comma
📞 Margin Call50% to 100% (EU)
🛑 Stop-Out20% to 50% (EU)
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size• 1:30 (Retail)
• 1:400 (Professional)
✅ Crypto trading offered?No
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:888
📊 Leverage Restrictions for Botswana?No
💳 Minimum Deposit (BWP)2,600 BWP ($200) for all countries other than Israel, the UK, and the US
✔️ Botswana Pula Deposits Allowed?No, only USD, GBP, EUR
📊 Active Botswana Trader Stats250,000+
👥 Active Botswana-based eToro customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💰 Deposit and Withdrawal Options• Credit Card
• Debit Card
• PayPal
• Neteller
• Skrill
• Rapid Transfer
• iDEAL
• Klarna/Sofort Banking
• Bank Transfer
• Online Banking – Trustly (EU)
• POLi
• Przelewy 24
• eToro Money
💻 Minimum Withdrawal TimeInstant
⏰ Maximum Estimated Withdrawal TimeUp to 10 Working Days
💳 Instant Deposits and Instant Withdrawals?Yes
🏛 Segregated Accounts with Botswana Banks?No
📱 Trading PlatformseToro Platform
💻 Tradable Assets• Forex Pairs
• Commodities
• Exchange-traded funds (ETFs)
• Indices
• Crypto Assets
• Stocks
✔️ Offers USD/BWP currency pair?No
📊 USD/BWP Average SpreadNo
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, Italian, German, Russian, Simplified Chinese, Traditional Chinese, French, Arabic, Polish, German
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/5
📞 Botswana-based customer support?Yes
💸 Bonuses and Promotions for Botswanans?Yes
📚 Education for Botswana beginner tradersYes
📱 Proprietary trading softwareNo
🤝 Most Successful Trader in BotswanaCurrently unknown
✔️ Is eToro a safe broker for Botswana Traders?Yes
🎖 Rating for eToro Botswana8/10
🥇 Trust score for eToro Botswana93%
👉 Open Account👉 Open Account

eToro Regulation and Safety of Funds

Regulation and Safety of Funds

eToro Regulation in Botswana

👉 The local market regulators in Botswana are as follows:

➡️ Ministry of Finance and Economic Development (MFED)

➡️ Bank of Botswana (BoB)

➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

 

👉 While eToro is regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, eToro is a popular and trustworthy broker that accommodates Botswanan traders.

 

eToro Global Regulations

👉 eToro is well-regulated by the following global entities:

➡️ The Cyprus Securities and Exchange Commission (CySEC) regulates eToro (Europe) Ltd, a company with its headquarters in Cyprus. It was founded with the incorporation number 200585 and license number 109/10.

➡️ The Financial Conduct Authority (FCA), which has the reference number 583263 and the company registration number 07973792, supervises, approves, and regulates eToro UK Ltd in the United Kingdom.

➡️ eToro AUS Capital Limited has the licenses and authorizations to provide financial products and services to Australian traders. Under AFSL number 491139 and ABN 66 612 791 803, eToro is governed by the Australian Securities and Investments Commission (ASIC), and this license has been in force since 2017. 

➡️ In the Netherlands, De Nederlandsche Bank N.V. (DBN) has registered eToro (Europe) Ltd. as a provider of cryptocurrency trading services. eToro USA LLC is a Money Services company authorized by FinCEN to do business in the United States. eToro USA Securities, Inc. is also a member of the Financial Industry Regulatory Authority (FINRA). This grants eToro USA the required licenses and permissions to provide various services to clients in the United States.

➡️ eToro USA LLC is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business in the United States and is a member of the Securities Investor Protection Corporation (SIPC).

➡️ The Seychelles Financial Securities Authority (FSA) has granted license SD076 to eToro (Seychelles) Limited, allowing it to run a registered managed investment scheme in Seychelles.

➡️ Gleneagle Asset Management Ltd (GAML) has been granted permission by the Seychelles Financial Securities Authority to run a registered managed investment scheme under license SD076 (FSA). In addition, the Australian Securities and Investments Commission has granted a license to GAML to operate the eToro Service, which is offered through eToro Australia and has the license number ARSN 637 489 466.

 

eToro Client Fund Security and Safety Features

👉 eToro makes every effort to guarantee the safety and security of client monies placed in trading accounts.

 

👉 eToro employs innovative cyber security measures to safeguard your sensitive information. Client money is kept segregated from the company’s funds in European banks of the highest tier.

 

👉 The Financial Services Compensation Scheme (FSCS) protects investors in the event of bankruptcy or liquidation of a broker. eToro is a Cyprus Investor Compensation Fund (ICF) member, compensating investors for claims against the company’s services and goods up to €20,000.

 

👉 As one of the regulated trading platforms, eToro users are obliged to produce genuine government-issued documentation to authenticate their identities. These measures are meant to safeguard traders from fraudulent and illegal activity.

 

👉 It also enables the trading platform to provide traders with a safe environment. eToro complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards by requiring its customers to complete this procedure.

eToro Awards and Recognition

👉 For its innovative platform, eToro has received several awards and is acknowledged as a world leader in the financial technology sector. However, the official eToro website does not list any awards or honours.

eToro Account Types and Features

👉 eToro offers a single account type suitable for new and experienced traders. Because of the low minimum deposit requirements and trading fees, eToro’s account is better suited to novices than more experienced traders.

 

👉 Furthermore, eToro’s novel social trading platform is easy to use and provides a wide range of excellent copy trading features, making it interesting to beginning traders.

 

👉 Other brokers provide accounts for beginners with smaller minimum deposits and, in certain circumstances, the possibility to trade in micro-lots.

 

👉 eToro offers a single genuine account and a demo account. In addition, the eToro Club offers several reward tiers with rising minimum investments.

💻 Live Account💳 Minimum Dep.📊 Average Spread💸 Commissions💰 Average Trading Cost
Standard3,100 BWP or $2001 pipNone, spread only10 USD

 

eToro Live Trading Account Details

Retail Account

👉 Traders with Retail Account access over 2,000 financial products and the eToro trading platform. In addition, traders who open an account with eToro may trade manually or via copy trading.

 

👉 Because of the strict limitations of MiFID and other market authorities, the Retail Account only allows for leverage of up to 1:30, shielding traders from certain dangers.

 

👉 Retail traders should determine if the Investor Compensation Fund insures them and whether their retail account is protected against negative balances. To open a retail account, traders must deposit at least 3,100 Botswanan Pula.

 

👉 Smart Portfolios, a new and original approach to personal investing, provide eToro customers with a wide selection of investment alternatives.

 

👉 As part of a comprehensive and popular investing program, investors can select from fully allocated and balanced portfolios focusing on accessible and easily understood market regions.

 

👉 Because of eToro’s industry-leading CopyTrader technology, anybody can join the financial markets and become a more seasoned trader. In 2021, the most imitated traders will earn an average annual profit of more than 83.7%.

 

👉 There are no administrative fees and a simple pricing scheme with no hidden costs when traders use eToro’s copy trading products.

 

👉 Another unique feature provided by eToro is the opportunity to stake crypto tokens, which allows Botswanans to earn interest while providing liquidity to various blockchain projects.

 

Professional Account

Professional Account

👉 eToro demands that all prospective traders pass a test verifying their long-term viability and account eligibility to be recognized as a professional trader.

 

👉 Professional traders who join eToro must be aware that the European Securities and Markets Authority (ESMA) has imposed several stringent conditions.

 

👉 This includes qualifying for the Investor Compensation Fund and recourse via the Financial Ombudsman Service. In addition, Botswanan traders must fulfil at least two of the three qualifications listed below to be deemed professionals:

➡️ Their professional portfolio must be worth more than $500,000, excluding real estate and cash.

➡️ The trader must have a verified trading history demonstrating that they have traded elevated position sizes as defined by eToro.

➡️ The trader must have professional experience in the financial industry, such as speculative trading, derivatives, or trading.

 

👉 While other online brokers have removed negative balance protection for professional traders, eToro continues to protect professional traders in the event of a negative balance owing to market conditions.

 

👉 Suppose the account of a competent trader goes negative. In that case, it will be rebalanced, and the loss will be absorbed by eToro.

 

👉 Professional traders profit from up to 1:400 leverage and cheaper margin rates. Professional traders should utilize appropriate risk management methods, regardless of experience level, to limit the degree of risk associated with a loss.

 

eToro Club

👉 Even though there is just one account type, traders may join the eToro Club with a higher minimum deposit.

 

👉 Depending on their membership level, customers may utilize several services and tools to increase their knowledge and comprehension of the capital markets and other investment possibilities, such as stocks, bitcoin, Smart Portfolios, and more.

 

👉 EToro Club membership is determined by traders’ realized equity (as of midnight GMT each day). You will be immediately accepted if you meet the equity criteria, and your club tier will change the next day.

 

👉 Botswanans can anticipate the following levels:

➡️ Silver – 78,0000 BWP ($5,000)

➡️ Gold – 156,000 BWP ($10,000)

➡️ Platinum – 390,000 BWP ($25,000)

➡️ Platinum+ – 780,000 BWP ($50,000)

➡️ Diamond – 3,900,000 BWP ($250,000)

 

👉 In addition, if you meet and maintain the minimum equity criterion, you will be a member of the eToro Club. If your equity falls below the minimum, you will be permitted to preserve your current membership status as a courtesy for three (3) full calendar months.

 

👉 You may switch between tiers at any time throughout your Club membership, depending on the equity requirements of each.

 

👉 However, keep in mind that if you downgrade to a tier that is ineligible for that tier, you may lose any memberships, services, or other offers you have. Furthermore, tier eligibility is updated at the beginning of each calendar month.

 

eToro Base Account Currencies

👉 When traders open a live trading account with eToro, the only basic account currency available is USD.

 

👉 Furthermore, when accounts are denominated in foreign currencies, a currency translation charge of 50 pips is applied to deposits and 50 pips to withdrawals, which is quite excessive compared to other brokers.

 

eToro Demo Account

Demo Account

👉 There is an amount of risk involved with trading in financial markets. eToro gives users a risk-free platform to evaluate strategies, practice trading, and learn more about the broker in a safe trading environment with actual market conditions.

 

👉 eToro provides a $100,000 virtual balance demo account where users may practice trading various assets. Beginner traders may utilize the trial account to learn about the markets, copy top-performing investors’ trading tactics, and more.

 

👉 Advanced traders may practice trading without risking their own money, making them transition effortlessly to a real trading account.

 

eToro Islamic Account

Islamic Account

👉 The spot market is a 24-hour trading of currencies and commodities at 5 pm New York time, all open positions are rolled over for the next 24 hours, and the daily interest is added to the company’s accounts.

 

👉 This implies that the broker can pay the interest or charge the fees to the client’s account. Furthermore, with an Islamic account, eToro guarantees that there will be no Riba at any moment throughout the contract’s length.

 

👉 Suppose you do not close your open trades in the currency market by 5 pm. New York time, they will be automatically rolled over. However, due to the usurious interest charged for the rollover, this poses a problem for those who follow Islamic law.

 

👉 The solution is to establish an Islamic account with the following features and benefits for Muslim traders:

➡️ No interest is charged on contracts that last more than 24 hours, and there is never any rollover interest.

➡️ eToro does not impose additional rollover fees for contracts longer than 24 hours.

➡️ eToro does not charge any commissions or fees for account maintenance. Therefore, spreads are eToro’s only source of revenue (the difference between the buy and sell prices of an instrument).

➡️ An eToro Islamic account allows for interest-free borrowing.

How to open an Account with eToro in Botswana

Account Registration

👉 Botswanan traders can follow these procedures to open a retail account with eToro:

➡️ Botswanan traders may open an account by clicking “Join Now” or “Trade Now” on the official eToro website.

➡️ Traders must complete an application form that includes personal information, contact information, residential address, employment information, and their source of income.

➡️ Traders must read and agree to the Terms & Conditions before applying.

➡️ All customers must go through the Know Your Client (KYC) process before an account may be authorized, requiring them to present evidence of their residence and identity.

➡️ Traders must also fill out a questionnaire to measure their degree of ability and competence, which allows eToro to tailor service packages to each trader.

 

👉 Furthermore, Muslim traders can convert a live account into a Swap-Free account by following these steps:

➡️ Complete the registration for a live trading account as indicated above.

➡️ Deposit at least 15,000 BWP ($1,000) into the account.

➡️ Contact eToro’s customer support for an account conversion.

eToro Vs Exness Vs Tickmill – Broker Comparison

🥇 XM🥈 Exness🥉 Tickmill
⚖️ RegulationCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC,FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCASeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
📱 Trading Platform• eToro proprietary platform• MetaTrader 4
• MetaTrader 5
• Exness App
• Exness Terminal
• MetaTrader 4
• MetaTrader 5
💰 Withdrawal FeeYesNoNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit3,100 BWP130 BWP3,100 BWP
📊 Leverage• 1:30 (Retail)
• 1:400 (Pro)
Unlimited1:500
📊 SpreadFrom 1 pipVariable, from 0.0 pipsVariable, from 0.0 pips
💰 CommissionsNoneFrom $0.1 per side per lot$1 per side per 100,000 traded
✴️ Margin Call/Stop-OutNone indicated60%/0%100%/30%
💻 Order ExecutionMarket/InstantMarketMarket
💳 No-Deposit BonusNoNoYes
📊 Cent AccountsNoNoNo
📈 Account Types• Standard Account• Standard Account
• Standard Cent Account
• Raw Spread Account
• Zero Account
• Pro Account
• Pro Account
• Classic Account
• VIP Account
⚖️ CBN RegulationNoNoNo
💳 BWP DepositsNoYesYes
📊 Botswana Pula AccountNoNoNo
👥 Customer Service Hours24/624/724/5
📊 Retail Investor Accounts434
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade SizeDepends on the instrument and account balanceUnlimited100 lots
💰 Minimum Withdrawal TimeInstantInstant1 Business Day
📊 Maximum Estimated Withdrawal TimeUp to 10 Working DaysUp to 72 hours2 to 7 Business Days
💸 Instant Deposits and Instant Withdrawals?YesYesInstant Deposits

eToro Trading Platforms

👉 eToro offers Botswanan traders a choice between these trading platforms:

➡️ eToro Web Platform

➡️ eToro Mobile App

 

WebTrader Platforms

WebTrader Platforms

👉 Their attempts to deliver a simple and creative online trading experience culminated in the eToro trading platform. eToro’s innovative trading technology may be found in the CopyTraderTM system, the Investor Program, and the CopyPortfolios strategies, among other places.

 

👉 eToro provides approximately 3,000 financial products in various asset types, including equities, bitcoin, and others.

 

👉 eToro employs Contracts for Difference to allow complicated trading features such as leverage and short (or sell) orders and financial assets that are not traded, such as indices and commodities.

 

👉 eToro’s goal is to make markets accessible to everyone with an easy-to-use, clear interface. It had one-of-a-kind trading features to assist Botswanan traders in managing their money more effectively:

➡️ Virtual Portfolios

➡️ Social Trading

➡️ CopyTrader

➡️ Smart Portfolios

 

Trading App

Trading App

👉 The eToro mobile trading app is available for free download from the Google Play Store and the Apple App Store, giving users access to all the platform’s innovative features.

 

👉 The eToro trading app brings all the website’s features to your mobile device, allowing you to manage your portfolio, monitor markets, and mimic the actions of successful traders wherever you are.

 

👉 With a reliable internet connection, Botswanans may use any number of mobile trading apps to do business from anywhere in the world.

eToro Range of Markets

Range of Markets

👉 Botswanan traders can expect the following range of markets from eToro:

➡️ Forex

➡️ Commodities

➡️ ETFs

➡️ Indices

➡️ Cryptocurrencies

➡️ Stocks

 

Financial Instruments and Leverage offered by eToro

🔨 Instrument💰 Number of Assets Offered📈 Max Leverage Offered
➡️ Forex491:30
➡️ Commodities321:10
➡️ ETFs2641:20
➡️ Indices131:20
➡️ Cryptocurrencies621:2
➡️ Stocks2,700+1:5

Broker Comparison for Range of Markets

eToroExnessTickmill
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyNoNoYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesNoYesYes
➡️️​ BondsNoNoNo

eToro Trading and Non-Trading Fees

Trading and Non-Trading Fees

Spreads

👉 Botswanan traders should be prepared for fluctuating spreads based on the financial instrument being traded and market conditions on the specific trading day. To offset the broker’s expenses, eToro charges a greater spread, which enables traders to trade commission-free.

 

👉 On important financial products like the EUR/USD, the usual spread that Botswanans might anticipate from eToro begins at 1 pip.

 

Commissions

👉 eToro only charges the spread, meaning that commission fees are unnecessary.

 

Overnight Fees, Rollovers, or Swaps

👉 A fee based on the position’s value may be assessed to traders who hold CFD contracts overnight. Different financial markets’ supply and demand will impact the fees assessed or credited.

 

👉 A modest fee equal to the position’s value is charged for CFD positions that are kept open overnight. To pay for the cost of the leverage you are utilizing, you must make an overnight interest payment. Tasks that are still accessible over the weekend are subject to weekend fees.

 

👉 The weekend rate is thus four times the overnight rate. Additionally, depending on the kind of asset, weekend costs are applied on Wednesday or Friday. An illustration of what Botswanans could be prepared to pay is as follows:

➡️ The overnight fee on short or sell positions in Euro is 2% + ESTR.

➡️ The overnight fees will be calculated according to the 6.4% + ESTR where EUR is purchased.

 

Deposit and Withdrawal Fees

👉 When money is deposited into a trading account, eToro does not charge anything; nevertheless, there is a $5 withdrawal fee.

 

Inactivity Fees

👉 A $10 monthly inactivity fee will be charged by eToro if a trading account is declared inactive after 12 months of inactivity. The cost will only be deducted from the balance of the trading account, not from any open positions that traders might have.

 

Currency Conversion Fees

👉 Traders will face a 50-pip currency conversion fee on both deposits and withdrawals when they make a deposit or withdrawal in a currency other than the US dollar.

eToro Deposits and Withdrawals

Deposits and Withdrawals

👉 eToro offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ PayPal

➡️ Neteller

➡️ Skrill

➡️ Rapid Transfer

➡️ iDEAL

➡️ Klarna/Sofort Banking

➡️ Bank Transfer

➡️ Online Banking – Trustly (EU)

➡️ POLi

➡️ Przelewy 24

➡️ eToro Money

 

Broker Comparison: Deposit and Withdrawals

🥇 eToro🥈 Exness🥉 Tickmill
Minimum Withdrawal TimeInstantInstant1 Business Day
Maximum Estimated Withdrawal TimeUp to 10 Working DaysUp to 72 hours2 to 7 Business Days
Instant Deposits and Instant Withdrawals?YesYesInstant Deposits

 

eToro Deposit Currencies, Countries, Processing Time, and Max Deposit Amount

💳 Payment Method💵 Deposit Currencies💳 Deposit Processing💰 Withdrawal Processing
Credit CardUSD, GBP, EUR, AUDInternational$40,000
Debit CardUSD, GBP, EUR, AUDInternational$40,000
PayPalUSD, GBP, EUR, AUDInternational$40,000
NetellerUSD, GBP, EUR, AUDInternational$10,000
SkrillUSD, GBP, EURInternational$10,000
NetellerUSD, GBP, EUREEA$10,000
Rapid TransferUSD, GBP, EURNetherlands$5,500
iDEALEURGermany, Austria, The Netherlands, Switzerland, Italy, Spain, Belgium, Finland, France, Poland$50,000
Klarna/Sofort BankingEURInternational$30,000
Bank TransferUSD, GBP, EURAustria, Belgium, the Czech Republic, Denmark, Estonia, Finland, Germany, Latvia, Lithuania, the Netherlands, Norway, Poland, Slovakia, Spain, Sweden, the United KingdomUnlimited
Online Banking – Trustly (EU)EUR, GBP, SEK, DKK, NOK, PLN, CZKAustralia$40,000
POLiAUDPoland$70,000
Przelewy PLNUK$11,500
eToro MoneyGBPInternational£250,000 (Unlimited for Black Cards)

How to Deposit Funds with eToro

How to Deposit Funds with eToro

👉 Funding your eToro account is easy and fast using the internet platform or mobile app. As there are no currency translation costs for USD deposits and withdrawals when using eToro Money, you may gain more when you deposit in US dollars.

 

👉 After you have finished the eToro Money account sign-up procedure, there are no further costs or fees. Following these procedures will allow Botswanan traders to put money into their eToro accounts:

➡️ Sign into your eToro brokerage account.

➡️ Select “Make a Deposit.”

➡️ Input the minimum deposit amount and currency type.

➡️ Select the chosen mode of transaction and confirm the deposit by following any further prompts.

eToro Fund Withdrawal Process

eToro Fund Withdrawal Process

👉 To withdraw funds from an account with eToro, Botswanan traders can follow these steps:

➡️ Access the trading account.

➡️ Select “Withdraw” as your withdrawal method.

➡️ Utilize the same payment method as the first deposit.

 

👉 When withdrawing funds from a trading account, traders must remember that they may only utilize the available balance. By closing their open positions, traders may release monies kept in open positions.

 

👉 Following the conclusion of a position, the trader’s available balance will be refunded, less or plus any wins.

 

👉 After their account has been validated and their withdrawal balance reaches $30, traders may request a pay-out. When withdrawing cash, traders must verify that they have sufficient funds to meet the $5 withdrawal cost.

eToro Education and Research

Education and Research

Education

👉 eToro offers the following Educational Materials:

➡️ News Feed

➡️ Analysis

➡️ eToro Academy

➡️ eToro Plus

 

Research and Trading Tool Comparison

🥇 eToro🥈 Exness🥉 Tickmill
➡️ Economic CalendarYesYesYes
➡️ VPSYesYesYes
➡️ AutoChartistNoYesYes
➡️ Trading ViewNoYesNo
➡️ Trading CentralYesYesYes
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes

eToro Bonuses and Promotions

Bonuses and Promotions

👉 eToro offers Botswanan traders the following bonuses and promotions:

➡️ Referral program

 

👉 eToro provides Botswanan traders with a referral scheme that rewards them for successfully introducing new traders to the platform. This trader must establish a legitimate trading account and deposit the appropriate funds.

 

👉 To participate in this program, Botswanans might be required to meet additional requirements.

How to open an Affiliate Account with eToro

How to open an Affiliate Account with eToro

👉 To register an Affiliate Account, Botswanan traders can follow these steps:

➡️ Botswanans may visit the official eToro website by choosing “Affiliate Program” on the homepage. However, before opting to join, Botswanans may learn more about eToro’s affiliate program by visiting this website.

➡️ Partners must complete an application form, and to log in to their eToro Partners account, they must pass the account verification requirements.

➡️ After completing the verification process, your payment method will be established. In addition, Botswanan traders should be aware of the following eToro affiliate program highlights:

➡️ Verify that the information provided is accurate and understandable to the intended audience.

➡️ Never make an unfulfillable commitment.

➡️ Take care not to mislead; for instance, affiliates must not discuss gains without discussing the danger of losing.

➡️ You should include any applicable disclaimers in your submissions.

➡️ Utilize eToro’s marketing resources. If Botswanan affiliates create their own, they must be submitted for approval to the affiliate manager.

➡️ The phrase “eToro” should not be included in the domain name. 

➡️ eToro should not be promoted in areas where doing so is forbidden.

➡️ For PPC/media purchasing, affiliates can connect advertisements to their website instead than eToro. In the ad text or keywords, affiliates may not use eToro or any of its variations (including the display URL).

➡️ Affiliates must be prepared with updates when requested by eToro. As standards evolve, eToro will conduct periodic audits and might need to make further enhancements.

eToro Customer Support

👉 The eToro customer care team is available 24 hours a day, five days a week, to respond to any general or technical inquiries. In addition, numerous articles in the online help centre could swiftly answer any of your questions.

 

👉 In addition, eToro offers its clients specialized trading programs and frequent financial news updates.

Customer SupporteToro’s Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Chinese, Arabic, Polish, Swedish, Malay, Vietnamese, Finnish
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of eToro Support4.7/5

eToro Corporate Social Responsibility

Social Responsibility

👉 In 2020, eToro introduced GoodDollar, a corporate social responsibility initiative. This plan aims to acquire a universal basic income for everybody (UBI).

 

👉 This concept aims to establish a worldwide payment system that cannot be altered or regulated by the government. Therefore, blockchain technology and the public blockchain network must collaborate to realize this objective.

 

👉 The eToro UBI proposal denominated in G$ may be of assistance to individuals throughout the globe. In other words, this would be globally accessible digital money that can be used with a smartphone.

 

👉 People could then get UBI payments in G$ and exchange them for their own currency or another currency of their choosing. After the extensive Covid-19 pandemic, this strategy is expected to be enthusiastically implemented.

Our Verdict on eToro

👉 eToro may be the ideal platform for bitcoin novices who want to learn by doing. The platform provides an active user community and social features such as news feeds for certain currencies.

 

👉 Conversation with others and exploring social feeds may be an excellent introduction to the world of cryptocurrencies. Additionally, eToro permits trading in a restricted number of stocks and ETFs.

 

👉 Users of the brokerage platform can practice trading using a fictitious trading account. eToro does not impose fees on stock and ETF trading, unlike most other online brokers. eToro does not impose any additional trading commissions or account maintenance fees.

 

👉 The minimum withdrawal amount is $30. However, there are no withdrawal fees. The two sides of the same coin are Popular Investor and CopyTrader. Customers who join up for CopyTrader may copy the trading strategies of well-known investors, commonly referred to as Popular Investors.

 

👉 Participation is free; Popular Investors get payment from eToro directly. When you have perfected your trading abilities, you may apply to become a Popular Investor.

 

👉 A similar feature provided by eToro called Smart Portfolios may be used to replicate the performance of eToro-managed portfolios.

eToro Pros and Cons

✔️ Pros❌ Cons
The eToro platform provides Botswanan traders with an engaging and communal experienceThere is limited customer support
eToro offers real crypto along with CFDs on cryptoThe Islamic Account requires a 1,000 USD minimum deposit
There is a comprehensive selection of educational material offeredMetaTrader is not supported
Botswanan traders can easily transfer their crypto from the eToro platform to anothereToro applies high currency conversion fees and does not provide a BWP trading account
There is a demo, and an Islamic account offeredThere are inactivity fees charged
eToro offers a powerful and innovative trading platform for traders
There is a range of instruments offered that can be traded
eToro offers some of the best social and copy trading options in the industry

FAQ

Is eToro regulated?

CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and SIPC regulate eToro effectively.

 

What is the minimum amount to deposit on eToro?

After the first investment of 2,600 BWP or the equivalent of $200, the minimum deposit is reduced to $50.

 

Is eToro safe or a scam?

eToro is a trustworthy broker with several regulatory oversight, a high trust rating, and excellent client feedback.

 

Is eToro good for beginners?

eToro is a good trading platform for beginners. Its trading platform is intuitive and easy to use. eToro excels in integrating useful tools and features into a user-friendly web platform and mobile trading application.

 

What is the withdrawal time with eToro?

The processing periods for withdrawals vary from instantaneous to ten business days.

 

How can I withdraw money from an eToro account?

You can access your client portal and select the “Withdraw Funds” option on the left-hand menu. Next, you can enter the amount you wish to withdraw, select your currency, and verify that the default withdrawal method is correct.

 

Does eToro have Nasdaq?

Yes, eToro allows traders to make Nasdaq investments.

 

Does eToro have Volatility 75?

Yes, you could buy or sell VIX futures on eToro.

 

Is it worth trading on eToro?

eToro is a remarkable broker that enables users to engage in social copy and cryptocurrency trading.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with eToro?

➡️ What was the determining factor in your decision to engage with eToro?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?

➡️ Have you experienced any issues with eToro, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

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