WikiCrypto’s eToro Withdrawal Review: Is it easy?

WikiCrypto’s eToro Withdrawal Review: Is it easy?

What is eToro?

eToro is a CFD trading platform founded in Tel Aviv, Israel in 2006 by two brothers as a website for CFD trading only. This, however, grew into an idea that they could create a trading website and pair the social aspect, making it a sort of Facebook for CFD traders. On the website, you can trade CFDs on Bitcoin and Ethereum. You can also connect with your favorite traders, you can follow them and their trades!

eToro is the world’s most popular social trading CFD platform for financial instruments like commodities, stock, and market indices. CFD trading is a bet on a financial instrument. Essentially, you would open a position in the market by speculating whether the price of a commodity will rise or fall. This allows traders to make a lot of profit even in falling markets. In this eToro Withdrawal Review, we’re gonna show you how easy it is to withdraw funds from eToro. 

CFD Trading and the Social Community at eToro

The eToro website has many features; the innovative social platform is truly one of the breakthroughs in the industry. Along with following traders, the platform allows you to literally ‘copy’ your favorite trader’s trades. So, if your favorite trader speculates on gold tomorrow, your account will automatically order the same trade, so if the trader you follow gains money, so do you!

That’s what makes eToro different since beginner traders can essentially learn from watching other traders on the website.

The social community at eToro is quite strong as well; since experienced traders try to help many beginners for them to make safe trades that are profitable in the long run. These traders can usually even explain the reason behind each of their trades if you ask them!

 

The eToro Withdrawal Review

The withdrawal process on eToro is straightforward and very simple. The minimum withdrawal is $20, which is quite low! So if beginner traders start with $100 you can choose to withdraw your profits which would be around $20-$50. In this eToro Withdrawal Review, we’re gonna show you how easy it is to withdraw funds from eToro. 

The only issue with withdrawing at eToro is the verification process. eToro suggests that users verify their account as soon as they start investing. The “verified” part on the account is called Know Your Customer (KYC law) which was created to prevent money laundering.

The verification process essentially asks for a national identity which can be used to verify that your funds on eToro actually belong to you. It’s one of the new regulations which is quite effective in preventing money laundering online.

The verification process can take a few days; since eToro needs to verify these documents in order to let you withdraw funds.

The documents needed for the verification process are:

  • National Identification which shows the photograph, name, date of birth, country of issuance, expiry date and a passport number (or equivalent).
  • Recent utility bill to give proof of address.
  • Proof of payment

How much time does this take?

In all honesty, these documents aren’t hard to find and thus the verification process can be much faster if you have all of them ready. During this eToro Withdrawal Review, I decided to take a look at some of the constructive reviews on Reddit. According to some users, the eToro verification process can take up to just a few days.

Depending on the means of withdrawal chosen, the funds will take one day to process at eToro. After that, the fund’s transfer to your personal account or funds transfer channel chosen will take from 2-8 days, depending on which funds transfer channel.

It’s as simple as that. 

As you saw, the eToro withdrawal process is one of the easiest and fastest in the CFD trading market. If you haven’t heard about CFD trading and eToro, visit our full review of eToro right here.

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About Article Author

Martina Kelowsky
Martina Kelowsky

Currently working on her Master Degree in Economics & Computer Science she lives in Russia. She is a Bitcoin Enthusiast since 2013 and Investor in various ICO since 2014. She aims to democratize a future where money is decentralized and transaction anonymous.

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