While it’s a basic social trading platform however, there are a lot of things to know regarding controlling the details of your eToro account.
From the moment you sign up to a new account, to verifying it and deletion There are many things to know about managing your account using the application.
Bronze Account
A eToro Bronze account serves as the first level that is part of eToro Club membership. Everybody automatically becomes an eToro Bronze member when they open the eToro account. If you’ve already made some trades, then the tier of your account will be altered depending on the amount of equity you’ve realized.
What exactly is real equity?
This is the sum of money that is in your portfolio. “Realized Equity” or “realized equity” refers to how much “uninvested funds” showing in your account which is added to the original amount that you put into any positions that are open.
For instance:
The initial deposit to the account of your eToro account is $7,000. You decide to open a new position for $2,000.
Your open account increases to $4,000 if you allow it to remain open.
What is your real equity in this instance?
$7,000 ($5,000 balance plus $2,000 initial amount of money)
A minimum of $7,000 qualifies you for the highest tier of eToro the club.
If you close your position open at $4,000, your account balance will rise to $11,000, and that’s what you call your “realized equity” and you’ll be admitted to the gold-tier of eToro.
Silver Account
A part of eToro exclusive level, this level is contingent on an investor to have at minimum $5,000 of equity.
Its eToro Silver account, or “Silver Tier” is composed of traders who have a an immediate link to the Customer Success Agent and other benefits like access to the eToro’s annual Stock Market Analyst Report, live webinars and the eToro debit card (coming very soon).
eToro Gold Account
To qualify in eToro’s Gold account holder , or being a part of the Gold Tier Club, an investor must have at least $10,000 of real estate equity.
The benefits of being an Gold level member include access to an account manager who is dedicated to the member with scheduled slots for live webinars and Financial analysis and reports.
Platinum Account
A platinum account at eToro platinum account needs to be realized capital of at least $25,000.
The members of the eToro Tier enjoy all the benefits enjoyed by Gold-tier members, and additional benefits like no charges for withdrawals, access the trading research platform central to all transactions, usage for an app called Delta PRO investment tracker app and a subscription to Wall Street Journal.
Platinum Plus Account
eToro customers who have realized equity of at least $50,000 automatically become a member of the eToro Platinum Plus tier.
The members of this club enjoy all the benefits of previous tiers and also additional benefits like Zoom sessions one-onone with an account manager who is dedicated to you tickets to sporting and cultural events , and invitations to events that are related to finance, which are selected through eToro for you to improve your trading abilities more.
eToro Diamond Account: Top Tier
eToro Diamond account holders should be able to have at least $250,000 of real estate equity. This is the highest level of the eToro Tier membership program.
With all the benefits and privileges of the levels above Diamond members also enjoy all the privileges and advantages of all the tiers above. Diamond members also get to enjoy no charges for exchange and an invitation to participate in the eToro’s Diamond events all over the globe.
How can I Cancel Your Account?
If you have a reason why you’d like to close or remove the account on eToro account, you can take these steps.
Go to “Settings” in your personal page.
Choose “Account”.
Then , click “Close the account” and then click “Close eToro accounts”.
Note: You will be asked the reason you chose to quit and the options are problems with your account or payment or a platform that isn’t satisfying your requirements privacy issues or personal reasons, or any other motives that would require additional explanation.
Remember:
Close all positions that are open and withdraw any funds in excess of $25.
To submit a request for withdrawal to withdraw funds, you must:
Select “Withdraw Money” on the left menu.
Enter the amount in USD.
Complete with the online withdrawal forms.
“Submit” and click “Submit”.
Opening an Account for Corporate Customers
You should know: Opening corporate accounts through eToro is required to make an amount of $10,000.
Making an account for this kind of account isn’t quite so easy as opening a private account. These are steps to follow for opening a corporate bank account:
Create an “Ticket” on the Customer Service page of eToro.
Provide the necessary details, such as the legal form of your company and the country in which your company’s incorporation, a detailed description of your company and a copy of your business’s Memorandum as well as Articles of Association (Translate in English If not written within your English languages) along with the verification of your minimum $10,000 initial deposit needed to open the corporate account.
Unblocking an eToro blocked account
Sometimes it happens that your eToro account might be blocked because of technical issues. If this happens, you can contact customer service at eToro.
If you’re unable to login with an account you already have, click “Visitor” and create an account by creating with a new email address. You should wait for customer support to provide instructions on how to deactivate the account of your eToro account.
Process of Verification of Account
Another essential and required step to create the eToro Account is the verify process.
The first step is to confirm your registered phone number by using eToro provide you with an SMS with the number code.
When you’ve entered the code and confirm it, you’ll be directed to the next step of verifying your account which is simply uploading a proof of identification (POI) as well as proof of address (POA) Documents.
To prove ID, you may submit any of these:
Passport
Driver’s license
Any ID cards issued by the government
On the other hand, here are some documents that you can use as evidence of address:
Utility bills, including electricity and other charges
Bank Statement
Social service ID
Any ID issued by the government that shows your current address.
What happens in the event of the account of an Unverified Account?
eToro users who do not have a verified account will be unable to perform certain activities within the application, including the ability to trade and withdraw funds.
There is a Need for Identity Verification
In order to fully conform with international regulatory bodies and to guarantee that they remain an area of trust and their respective trading partners, eToro requires verification of the identities of every user.
What is the role that of eToro Account Manager
Once you have become an eToro Gold member or eToro Gold tier and up you will be granted the direct access to a designated eToro Account Manager.
The role of an eToro Account Manager’s responsibility is to ensure an outstanding customer experience for eToro customers. This includes:
In helping traders increase their Gold, Platinum and Platinum Plus and Diamond membership.
Support and training for eToro exclusive club members.
What Can I View on My Statement on my Account?
To access your eToro account Statement, navigate to your “Portfolio” located on the left sidebar . hit”clock” or “clock” button to display your transaction history.
Select the wheel symbol in the upper right and then, from your dropdown menu choose “Account Summary”.
Next step: Choose the time period that you wish to review your transactions past and then click a checkmark on the box next to it to create your eToro Account Statement Summary.
