eToro Account Types

eToro offers several account types tailored to different trading needs. The main account types include:

• Retail Account: This is the standard account type for most traders. It requires a minimum deposit ranging from $10 to $10,000 depending on the geographic location, with a typical minimum of $200 for international traders. Trading fees include spreads starting from 1.0 pips and a 0.15% commission for CFDs. A $5 withdrawal fee applies.

• Demo Account: Automatically created upon registration, this account provides a virtual balance of $100,000 for practice trading without a time limit, allowing traders to familiarize themselves with the platform.

• Islamic Account: Designed for Muslim traders, this account is swap-free and requires a minimum deposit of $1,000.

• VIP Account: Part of the eToro Club, this account offers enhanced trading conditions and perks for traders with a minimum equity balance of $5,000.

• Professional Account: Available for eligible EEA-based traders, this account provides higher leverage and fewer restrictions, but requires meeting specific criteria.

• Corporate Account: Ideal for businesses, this account requires a minimum deposit of $10,000 and additional documentation.

eToro Broker Account Opening Process

Opening an eToro trading account is straightforward and can be completed in a few steps:

• Visit the eToro Website: Click on the "Start Investing" button.
• Fill Out the Application: Provide your desired username, email, and password. You can also sign up using your Google or Facebook account.
• Confirm Your Email: eToro will send a confirmation email with a verification link.
• Account Verification: Mandatory for compliance with AML/KYC regulations. Submit a government-issued ID, proof of residency, and verify your mobile number. Unverified accounts can deposit up to $2,250 but cannot withdraw funds.
• Deposit Funds: Make a deposit of at least the minimum required for your chosen account type.
• Start Trading: Once your account is funded, you can begin trading all available eToro assets.

For more details, visit the eToro account types review here.