User blogs
How to withdraw funds from eToro
Please note that you can only withdraw from your available balance, so you should ensure that you have the funds available in your balance before making a withdrawal request.To get more news about etoro fund withdrawal, you can visit wikifx.com official website.
If you have funds invested in open positions, you can free up more funds by closing positions. Once a position is closed, the invested amount +/- any profit or loss be returned to your available balance.
eToro withdrawal methods
eToro supports a variety of withdrawal methods. These are all the same methods as are available for making a deposit. However, it is essential to remember that you can only withdraw in the same way you have used to make your deposit.
If you use a combination of methods, such as credit card and bank transfer, you receive funds to the respective methods deposited.
If your deposit method is locked or unusable for any reason, you can use an alternative withdrawal method. eToro may ask you for proof of this to change to another withdrawal method.
Is there a fee for withdrawing from Etoro?
All your withdrawal requests are subject to a fee of 5 USD. By default, you withdraw USD. Withdrawals from an eToro account in any currency other than USD are subject to a conversion fee. The payment service provider collects this conversion fee.
Compared to the benefits that eToro provides, 5 USD is quite a comfortable fee. The purpose is to encourage users to consider withdrawing when they have reached a relatively stable profit instead of continuously withdrawing because withdrawal requests go through the payment control system and take longer to process than deposit requests.
However, if your eToro account is Platinum level or higher, you get a 5 USD free withdrawal fee.
How to know your withdrawal request has been processed?
You receive an email notification when your withdrawal request has been processed along with the payment provider details to which eToro sent the funds.
Alternatively, you can also tap on Portfolio and go to the History tab to see the status of your withdrawal.
How long does it take to process a withdrawal request, and when will the customer receive the funds?
The withdrawal process includes Withdrawal processing time and money receiving time. The processing of withdrawals is handled by eToro. Besides, the time to receive your money is already in the hands of the payment service provider.
How to cancel a withdrawal request?
As long as your withdrawal request is Under Review, you may cancel it via your Portfolio by clicking on the blue History icon and clicking the Reverse button on the request you wish to cancel.
What should you do if the money does not appear in your account?
Tap the category card. Then go to the history card to check your sent eToro payment method. Or, you can check the email you received regarding the processing of your withdrawal.
You should also note that it will take eight business days from eToro processing your withdrawal request for the funds to appear on your account statement.
If you have checked all the items above and still cannot find your money. Please get in touch with eToro for assistance. eToro will ask you for a payment method statement showing incoming and outgoing transactions from when you make your withdrawal until you contact eToro. It would be best to ensure that eToro can see your name, transaction date, and payment method details.
Mirror trading: What exactly is it?
Online trading has become popular in recent years, but not everyone who wants to practice it has enough time or training. Thanks to technological advances, there are new options to handle these inconveniences. How? With new forms of automated trading, such as copy trading, social trading and mirror trading. In this article I’m going to explain what the latter entails. Are you interested? Keep reading!To get more news about forex mirror trading, you can visit wikifx.com official website.
What is mirror trading?
Whether you are interested in mirror forex trading, or any other market, mirror trading is a strategy that can be applied to most markets. Mirror trading is a type of automated trading that emerged in 2000, even before the other variants, such as copy trading and social trading. Its name gives us a clear clue of what mirror trading means, since it consists of replicating or reflecting the strategy of a certain trader.
In this case, this strategy is hosted on the server of the company that offers the trading services - the broker - which, in turn, makes it available to its clients through its platform.
The trader who wants to replicate strategies of other market participants is able to see all the characteristics and the results of each one of them in the trading platform of his broker. Then they select one of them based on their profit goals, trading style, capital, risk tolerance level, etc.
Each one of the operations is copied automatically and configured in the account of the trader that replicates the strategy.
Advantages vs disadvantages of mirror trading
Before covering the advantages and disadvantages of mirror trading, I must present a clear warning: be careful, because absolutely everything in the strategy is replicated. That’s why it’s highly recommended that, before choosing this strategy, we dedicate time to researching the following:
Mirror trading vs Copy trading vs Social trading
The basis of mirror trading, copy trading and social trading is, broadly speaking, the same: a trader copies the strategies and techniques of another trader. However, these three variants have their differences when it comes to putting them into practice. Let's see them:
Mirror trading
In this case, the ‘original’ trader programs and directly hosts his strategy on the server of the company that provides this service for the rest of traders to replicate. The trader who facilitates the strategy must have programming knowledge so that he can send the signals that will later be replicated in the client's trading account.
Copy trading
When we talk about copy traders, we refer to the technique by which a trader connects their account to the system of the company that offers this service, becoming a signal provider. Like mirror trading, this strategy can apply to Forex copy trading or any other market.
Unlike mirror trading, in this case it does not program its strategy on the company's server but instead hosts it on its own server and, from there, sends it to the trading platform for the broker to forward it to its clients. A client can then become a copy trader based on this strategy.
Social trading
Social trading is a kind of user community that works in the same way as a social network, but around a topic as specific as trading. In this case, we can talk about two types of actors that participate in this network: signal providers or professionals who share their operations; their followers, who seek advice, exchange opinions and investigate winning strategies.
Market sentiment - an alternative to mirror trading?
Admirals does not provide portfolio management or mirror trading services but is preparing a new copy trading service that is expected to be available in February 2021. Until then, it’s offering an alternative, thanks to its MetaTrader trading platform.
Admirals has the exclusive Supreme Edition plugin for MetaTrader 4 and Metatrader 5 that adds to these platforms, among other indicators, the Market Sentiment. You can consider this as something similar to an mt4 mirror trading function.
This indicator can help the trader know the majority positions of investors at a given time. What it does is measure the emotional state of market players and identifies whether the majority are long or short - that is, whether optimism or pessimism is dominating.
Only 5 days till Forex Expo 2021 in Dubai
Given the prospect of NAGA's platform, Ben will share valuable info about the road from the very beginning to where we are now. Join this speech and gain an exclusive insight behind the scenes of NAGA and what's planned for the future!To get more news about forex expo, you can visit wikifx.com official website.
When trading in the financial markets, one needs 3 important elements: a robust trading strategy, risk management rules and the discipline to follow them. Andreas will cover all these topics in his presentation and you will have the chance to get a free '50 Trading Tips & Tricks' book. Don't miss out - see you in Hall 6 at the expo!
Win gifts and meet our team
Wanna participate in a ticket giveaway to Sevilla FC's football match? Wanna take a selfie with the NAGA team and get a chance to be featured in NAGA Vlog?Make sure to visit us at the NAGA booth and let's create some memories together!
Elevate your trading career
As the saying goes, it's worth reading books because you never know which one sentence will spark an idea that can change your future.
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LEARN TO TRADE FOREX (39)
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