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Iโll simply explain all Etoro fees in 2022 and what you need to watch out for when using Etoro trading platform when buying stocks, ETFs, crypto, or any other asset.
Signup with Etoro:๐ punchsalad.com/lp/etoro/ - eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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๐ LINKS MENTIONED in this video:
Etoro tutorial: youtube.com/watch?v=cvmnT4WjNNk
Short selling explained: youtube.com/watch?v=AnAecNZpwNw
Etoro fees page: etoro.com/customer-service/market-hours-fees/
Excel calculator: punchsalad.com/wp-content/uploads/2020/04/Etoro-Fees-2020.xlsx
Learn more about pips: investopedia.com/terms/p/pip.asp
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๐ TABLE OF CONTENTS
I'll cover the following topics on Etoro costs:
(00:00) What to expect
(00:23) Withdrawal fee
As there is a withdrawal fee any time you withdraw your money from etoro.
(00:40) Currency Conversion Fee
Etoro operates with dollars only, so when you deposit money in other currencies, they take a conversion fee. Just to confuse all the newbies, the conversion fee is calculated in pips.
(04:10 ) Spread fees
The good news is that eToro doesnโt have spread fees when you open a long (BUY), non-leveraged position. Since you might need this later, letโs go through spread fees quickly.
These are charged when you buy anything on eToro, stocks, cryptocurrencies like bitcoin, and so on, however, they are included in the buying price that you see in eToro.
(06:35) Overnight Fees
Like most other trading platforms, eToro also charges overnight fees, which is basically a small fee for them to lend you the money to hold the item overnight.
This again really depends on what you are trading, for example, if you trade stocks and you donโt leverage them then there are no overnight fees. If you do leverage, it means eToro is lending you money so they are collecting an interest rate on it.
(08:48) Inactivity Fee
If you donโt log in for 12 months to your account, you will be charged a monthly inactivity fee. Until you ran out of balance or your login.
