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eToro Offers Interest Up To 5.3% On Idle Funds

Written By

James Barra

Written By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

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Updated

Nov 14, 2023

eToro is introducing an opportunity for traders to earn annual interest of up to 5.3% on unused funds. Users can withdraw the funds at any time without restrictions.

Key Takeaways

• Traders who opt into the interest program will receive monthly payments directly to their accounts.
• Interest rates vary depending on the account equity, with a maximum rate of 5.3% for balances of $250,000.
• To activate interest on balance, traders need to log in, meet the balance requirements, and switch from “Disabled” to “Active” in the eToro Club dashboard.
• The interest program is available to new and existing clients.

How It Works

The interest scheme offers an attractive avenue for those seeking to optimize their returns on idle funds while identifying trading opportunities.

Importantly, interest rates vary depending on the balance of the account:

The total balance is classified as the total realised equity in the account, including invested capital and available cash.

Interest is calculated daily and paid on the first day of the following month. The minimum payment is $0.01.

Taxes on interest payments vary depending on local regulations. In some countries, eToro will automatically withhold tax payments and send them to the relevant authority.

About eToro

eToro is a multi-asset trading broker and social investment network. Established in 2007 and regulated by trusted bodies, including the FCA, ASIC and CySEC, the firm has attracted over 25 million clients globally.

Thousands of trading products are available, covering CFDs, ETFs and forex. This includes over 3000 stocks, as well as fractional shares, lowering the entry barrier for beginners.

Traders can speculate on global markets using the broker’s in-house platform, accessible via web browsers with an intuitive interface and straightforward navigation.

Traders new to eToro can get started with a $50 minimum investment.

Visit

Review

eToro is a top-rated multi-asset platform which offers both investing in stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. CFDs are not available in the US Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail accounts lose money.

76% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.