How to Delete an eToro Account
eToro helps make trading more accessible with its social copy trading feature and accessible app. Even though replicating the trades of someone doing well helps, it doesn’t remove market unpredictability.
If you’ve decided to get out of the game or just want to use another trading app, you might want to close your eToro account. Read on to learn 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Before closing your eToro account, ensure all open positions are closed and available funds more than $25 are withdrawn. Then follow these steps below to close your account using your iPhone:
- Launch the eToro app and sign in.
- Tap the hamburger icon in the top left, then press the “Settings” option.
- Select the “ACCOUNT” settings tab.
- Towards the bottom, tap the “Click here to close your eToro account” link.
- Select a reason in the “Tell us why you are leaving?” Then tap “Continue.”
- eToro will attempt 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’ll receive a confirmation email once the process is complete.
How to Delete an eToro Account From an Android
To close your eToro account, you’ll first need to complete all open positions and withdraw available funds above $25. Once that’s done, follow these steps to close your account using your Android device:
- Sign in to your eToro account.
- At the top left, tap the hamburger icon, then choose “Settings.”
- Select the “ACCOUNT” tab.
- Press the “Click here” 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’ll then receive a confirmation email once it’s closed.
How to Delete an eToro Account From a PC
Before you can close your account, open positions must be completed and available funds over $25 withdrawn. Here’s how to close your eToro account using your PC:
- Navigate to your eToro account and sign in.
- Choose “Settings” towards the bottom of the left pane.
- On the “Settings” page, select the “Account” tab.
- Scroll down to click the “Click here to close your eToro account” link.
- In the “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 get to a pop-up to “Confirm” the closure.
You should receive a confirmation email once your account is closed in three days.
How Long Does It Take to Close eToro Account?
Compared to other trading brokers, eToro offers a fast account closure turnaround 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 available funds in your eToro account. Here’s how to place a withdrawal request using the mobile app:
1. Sign in to your eToro account.
2. Select the hamburger menu in the top left.
3. Choose the “Withdraw Funds” option.
4. Enter the amount you wish to withdraw in USD.
5. Tap “Continue” to go through the prompts. On the reason for withdrawing funds page, you can choose the “Withdrawing profits” option, then hit “Continue.”
6. Ensure your bank details are correct, then “Continue.”
Funds are generally received within a few days, though 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 can’t completely reset your account, for instance, your trading history and stats. However, for a new virtual portfolio with $100,000 and no stats or trading history, you can open a new eToro account using different account credentials.
Leading global trading platform eToro is especially popular with those new to trading and investing. As well as a user-friendly interface, its social media feature allows you to follow and copy the trades of traders that appear to know what they’re doing. However, this does not safeguard against the pitfalls of vulnerable markets, and many people find that trading is not for them.
Closing your eToro account was once a long-winded process where you’d need to go through customer service. Now, once all your positions are closed and available funds are withdrawn, you can have your account closed within three days.
What did you think of the eToro app overall? Would you recommend it for beginners? Tell us about your experience using the app in the comments section below.