eToro helps make trading more accessible with its social copy trading feature and accessible app. While replicating the trades of someone who is successful helps, it does not eliminate the unpredictability of the market.
If you have decided to quit the game or just want to use another trading application, you may wish to close your eToro account. Read on to find out what to do before closing your eToro account and how to close it.
How to Delete an eToro Account from an iPhone
Before closing your eToro account, ensure that all open positions are closed and available funds above $25 are withdrawn. Then follow the steps below to close your account using your iPhone:
- Launch the eToro app and log in.
- Tap the hamburger icon on the top left, then tap the "Settings" option.
- Select the "ACCOUNT" settings tab.
- At the bottom, press the link "Click here to close your eToro account".
- Select a reason in the "Tell us why you are leaving?" section. » Then press « Continue ».
- eToro will try to change your mind. Go through the prompts until you get to "Confirm" your account closure.
Your eToro account should take three days to close. You will receive a confirmation email once the process is complete.
How to delete an eToro account from an Android
To close your eToro account, you must first complete all open positions and withdraw available funds above $25. Once done, follow these steps to close your account using your Android device:
- Log in to your eToro account.
- In the top left, tap the hamburger icon, then choose "Settings."
- Select the "ACCOUNT" tab.
- Press the "Click here" link on the "Click here to close your eToro account" link.
- Select a reason for leaving, then click "Continue."
- eToro will try to convince you to stay. Complete the prompts, then "Confirm" to close your account.
Your account should take three days to close. You will then receive a confirmation email once it is closed.
How to delete an eToro account from a PC
Before you can close your account, open positions must be completed and available funds greater than $25 withdrawn. Here's how to close your eToro account using your PC:
- Go to your eToro account and log in.
- Choose "Settings" near the bottom of the left pane.
- On the "Settings" page, select the "Account" tab.
- Scroll down to click on the “Click here to close your eToro account” link.
- In the section “Tell us why you are leaving? Pop up, choose a reason, then click “Continue”.
- eToro will try to change your mind. Continue through the prompts, and you'll eventually come to a pop-up window to "Confirm" closing.
You should receive a confirmation email once your account is closed in three days.
How long does it take to close an eToro account?
Compared to other trading brokers, eToro offers a fast account closure time of three days.
Can I withdraw all my money from eToro?
Yes, at any time you can withdraw up to the value of the funds available in your eToro account. Here's how to request a withdrawal using the mobile app:
1. Log in to your eToro account.
2. Select the hamburger menu at the top left.
3. Choose the “Withdraw Funds” option.
4. Enter the amount you wish to withdraw in USD.
5. Press "Continue" to cycle through the prompts. On the Reason for Withdrawing Funds page, you can choose the “Withdraw Profits” option and then click “Continue”.
6. Make sure your bank details are correct, then "Continue".
Funds are usually received within a few days, but it can take up to 10 business days, depending on the payment method used. For example, a credit/debit card or bank transfer takes up to 10 business days. PayPal or Neteller takes up to two business days.
Can I reset my eToro account?
eToro cannot completely reset your account, for example, your trading history and statistics. However, for a new virtual wallet with $100 and no stats or trading history, you can open a new eToro account using different account credentials.
The leading global trading platform eToro is particularly popular with those new to trading and investing. Along with a user-friendly interface, its social media feature lets you track and copy trades from traders who seem to know what they are doing. However, this does not protect against the pitfalls of vulnerable markets, and many people find that trading is not for them.
Closing your eToro account used to be a lengthy process where you had to go through customer service. Now, once all your positions have been closed and available funds have been withdrawn, you can have your account closed within three days.
What did you think of the eToro app as a whole? Would you recommend it for beginners? Tell us about your experience using the app in the comments section below.