eToro Offers Interest Up To 5.3% On Idle Funds
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.
- 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:
|Annual Interest Rate||2%||2.4%||5%||5.3%
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.
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.