So, you have read through our eToro account types and guides section, opened your eToro live account, and now you are wondering how to join the eToro club?
We can help.
The eToro club is a relatively new feature from the broker. It operates in a similar fashion to a loyalty programme. It can deliver great advantages to help you with trading at eToro and getting the most out of your experience.
With this in mind, we have compiled a full guide to the eToro club.
This will mention everything from the different tier levels, and their benefits, to exactly what steps you need to follow to join and stay in the eToro club.
What Exactly is the eToro Club?
eToro is already a top broker, and one of the biggest in the business. Therefore, if you are trading with them, you are already receiving lots of excellent benefits and opportunities to advance.
What then is the eToro club?
The eToro club is a premium programme for those who have a certain value of equity in their eToro account. This level of equity is used to unlock one of five different levels within the eToro club.
The five levels within the eToro club are:
As a member of one of these levels within the eToro club, you will be able to unlock a host of benefits.
These include reduced fees, a generous credit line with great, low interest rates, access to your own dedicated account manager, and much more.
Exactly which benefits you are eligible to receive is based on your eToro club level as outlined in the following chart:
This showcases many of the benefits which you can get from joining the eToro club at each level.
The Benefits of Becoming an eToro Club Member
As we have just shown in the chart above, there are a wide variety of advantages available to you when you join the eToro club.
As well as the dedicated account manager and access to a low-interest credit line which we have mentioned, you can also improve your trading knowledge in many ways by being a member of the eToro club.
The knowledge comes from the selection of live webinars which you will be eligible to attend. These are often delivered by industry and market experts and serve as a great opportunity to learn.
You will also be getting the very best market analysis and insights delivered to you daily from the expert eToro team. This should give you the best opportunity to get one step ahead in trading.
Members of the eToro club will of course also benefit from reduced fees for using the platform at certain levels. This includes free withdrawals and discounts or waivers on exchange fees. If you are a regular high volume trader, these can both lead to a great saving.
At the higher platinum+ and diamond levels of the eToro club, you will gain access to private analyst consultations as well as invitations to top-tier industry, and sporting events.
What type of trader are you?
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Step by Step Guide on Joining the eToro Club
Now that you know some of the great benefits of the eToro club, let’s take a look at exactly how you can join the club yourself.
Here is our step-by-step guide in how you can get started.
Open an eToro Live Account
The very first step you will have to go through if you want to join the eToro club, is to open your own eToro live account.
To do this is the fastest and most efficient way possible; you can follow our tutorial on how to open an eToro real account.
This should show you everything you need to know in detail about opening a live eToro account. The process though is relatively simple. Just sign up with an eToro real account, complete a few of the personal detail, verify your account, and you will be ready to move to the next step of joining the eToro club.
eToro Account Verification to Join the eToro Club
The next simple step which you will need to follow in order to join the eToro club, is to make sure your eToro account is verified. The eToro account verification process should cause no problems at all.
All you should need in order to complete the eToro account verification process are the following documents:
- Proof of Identity (Passport, driver’s license, national ID card)
- Proof of Address (Bank or utility statement)
- Your National Tax Number
Once you have uploaded these documents electronically through the eToro verification system, your account should be verified very quickly. This will allow you to deposit enough in order to join the eToro club without problem.
Account verification is something which we have already covered in detail in our useful guide on how to verify your eToro account. This should be very helpful to anyone who needs more information or guidance with the process.
Take Note of the eToro Club Membership Levels and Requirements
In order to become an eToro club member, there are requirements which must be met. These requirements only extend to the amount of equity you have in your eToro account.
This equity must be above a certain amount depending on which eToro club membership tier you will join:
- Silver: $5,000
- Gold: $10,000
- Platinum: $25,000
- Platinum+: $50,000
- Diamond: $250,000
This amount is calculated based on the realized equity in your account. This term “realized” equity means the amount of uninvested funds in your balance, added to the original amount invested in any positions that are open.
Basically, this number does not take into account any profit or loss, just the original amounts which you invested, or which are in your account.
Let’s make a quick example scenario to keep things easy to understand:
You deposit $8,000 in your eToro live account.
You then open a position for $2,000.
The value of your open position rises to $4,000, but you keep it open.
What is your realized equity in this case?
$8,000 ($6,000 balance + $2,000 opening amount invested)
At this level you would qualify for the silver tier of eToro club membership.
On the other hand, if you closed you open position for $4,000, your balance would become $12,000 and this would also become your realized equity. This would then advance you to the gold-tier of the eToro club.
Deposit Enough Funds to Join the eToro Club
If you are thinking of joining the eToro club immediately when you register your eToro live account, then you will need to deposit enough to reach your desired tier. This means a minimum of $5,000 deposit must be made in order to join the eToro club from the very beginning.
Later, when you have been trading for a while, your tier-level may increase based upon the success of your trades if you ensure they are closed profitably and added to your balance, and therefore, your realized equity.
Signing Up for eToro Club and Upgrading Your Tier
One of the best things about the eToro club is that your registration should be processed automatically. This will be updated every 24 hours based on the realized equity of your account. This also applies to upgrading your tier level.
Ultimately this makes the eToro club a very easy process to be a part of. You do not have to worry about processing the membership yourself and verifying additional levels. Your tier level will also be automatically updated as your status changes. On the other hand, if you happen to fall out of a particular tier level, you will still be granted a full, three month grace period to continue at your current levels.
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The Benefits of Each eToro Club Level
Here we will take a closer look at the individual benefits you stand to gain by joining each level of the eToro club.
This should allow you to set your own targets of which level you wish to join.
– eToro Club Silver Tier Benefits
The eToro club begins with a silver-tier. The equity requirement to join this tier is $5,000. With the eToro club silver-tier, you will have access to a dedicated eToro account manager. This can be of great assistance if you have any questions related to trading, and will ensure that you are always only one moment away from some helpful guidance with your eToro live account.
– eToro Gold Tier Benefits
eToro club gold-tier membership can be accessed from $10,000 in realized equity. Reaching this level will mean you retain all benefits from the previous level, plus gain access to an extensive range of live webinars and professional analysis. It is at this stage that you will also become eligible for a highly competitive line of credit provided by eToro.
– eToro Platinum Tier Benefits
eToro club platinum-tier membership can be accessed from $25,000 in realized equity. Reaching this level means you will keep all the benefits of the previous level, plus have access to private trading signals, no withdrawal fees, an eToro debit card, and first access to many new products and features as they become available.
– eToro Platinum+ Tier Benefits
eToro club platinum plus membership can be accessed from a realized equity of $50,000. As well as all of the benefits from previous levels, you will be assigned your own personal analyst, a Financial Times subscription, and access to a broad range of special events.
– eToro Diamond Tier Benefits
eToro diamond-tier is the pinnacle of the eToro club, and reserved for the most exclusive traders. This level can be accessed with a realized equity above $250,000 and provides all of the previous level benefits plus an exemption on exchange fees and special invitations to hand-selected industry and sporting events.
Why Should You Join the eToro Club?
This is a common question, and one which you probably asked yourself when you found out about the eToro club.
The simple answer is, the eToro club is free to join, and in doing so, it helps you to unlock loads of benefits which are reserved especially for eToro club members. Essentially, since it is a free service which automatically upgrades your level when needed, there is no real reason not to join.
Joining the eToro club can also be a kind of badge of honor for your eToro live account. You membership status is kept completely private for you only to know, but it can still be an excellent achievement which gives you extra confidence in your trading ability.
One final important point to note is that all eToro users are eligible to join the eToro club. This is true regardless if you are operating a regular account, or an eToro Islamic account. So long as you meet the required amount in terms of account equity, then your eToro club membership will be accepted.
eToro Broker Review
Now that you have read and completed the opening of your eToro live account, and hopefully been able to join the eToro club for all the great benefits it can offer, you should check out our full eToro review.
This covers every aspect of eToro like no other guide in the industry. It gives you the complete lowdown on every aspect of eToro in an honest and friendly way. It is also something which you can refer back to multiple times, along with our other eToro related content if you have any questions.