How to Close eToro Account & Find Better Alternative

Why Should You Delete Your eToro Account? 

You don’t need an elaborate reason to close your account. Simply deciding you no longer wish to trade is the most typical justification for closing your eToro account. It is possible that you have suffered significant losses and are unable to keep on trading, or you may just realize that you don’t know enough about trading to make the right decisions.

The truth is that there is no get-rich-quick scheme to long-term success because it takes time to acquire the necessary knowledge to become a productive and consistent trader. If this isn’t something that is up to your abilities, then there is no point in wasting your time and energy.

Another reason you may have for closing your eToro account is that they may not have the tools you need to trade, especially if it’s a specific commodity or a rare currency combination that offers a fantastic trading opportunity. Failure in applying risk management can lead to significant losses, which might be a compelling reason to consider closing your account. Also, remember to withdraw you money from eToro before deleting the account.

Of course, other factors like excessive email marketing may be another reason you may want to leave. Additionally, an inactivity fee can be a deciding factor, especially if you haven't logged in for a while and don't want to incur monthly charges until your account is reactivated or your balance is depleted.

How to Delete your eToro Account using your iPhone

Make sure to withdraw funds and ensure any open positions are closed, with all available funds more than $25 removed before canceling your eToro account. The actions listed below should be followed to delete your account using an iPhone.

• Installing the eToro app and logging in are your first two steps.
• Then, you should select the “Settings“ option after clicking on the hamburger icon in the top left corner of the screen.
• The “Account“ settings tab should then be selected.
• Next, click the link that says “Click here to close your eToro account” after scrolling down.
• Next, select an answer in the “Tell us why you are leaving?” field before clicking “.”
• To delete your account, proceed by following all the steps up until the “Confirm“ step.

Before your eToro account is deleted, it could take up to three days. Upon completion of the process, you will receive an email confirmation.

How to Delete your eToro App using your Android

To successfully delete an eToro account, take the following steps

• Log into your eToro account.
• Then, go to “Settings“ by clicking on the hamburger button in the top left corner of the screen. Navigate through the left hand menu to find this option.
• The “Account“ tab should then be selected.
• Next is to locate the “Click here” link and click “Click here to close your eToro account.” Submitting a withdrawal request is essential at this stage to initiate the transfer of any remaining balance.
• After tapping on a reason for your exit, you should touch “” to move the process along.
• You will be persuaded to stay by eToro. To successfully close your account, you must adhere to all instructions.

Your eToro account won’t be closed for three days or more. Once the procedure is finished, you will get a confirmation email.

How to Permanently Delete Your eToro Account Using Your PC

If you’re using a computer, you can delete your account using the folllowing steps:

• Log into your account.
• In the bottom-left corner of the left pane, you should then click “Settings.”
• The “Account“ tab may be found on the “Settings” page, so click it.
• After that, scroll down and click the link that says “Click here to close your eToro account.”
• Select a reason in the “Tell us why you are leaving” area before tapping “Continue.”
• Confirm“ at the bottom of the page.

Conclusion

Since the broker imposes a cost of $10 per month after a year of inactivity, transferring your remaining balance to a bank account is a smart move to avoid these fees when canceling your account. Additionally, it's important to note the minimum withdrawal amount of $5; users must ensure their balance meets this minimum withdrawal requirement to successfully transfer funds before account closure.

If you’re unsatisfied with the broker’s services, you can always look for an eToro alternative. Still, this is one of the best brokers on the market today. Don’t believe us? Just read our etoro review to convince yourself.

Disclaimer

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. 51% 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.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice.  The value of your investments may go up or down.  Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.