eToro is the world’s most popular social trading platform that most everyone that trades will have heard of, or even tried.
If you are still convinced you want to close your account though, here is a step-by-step guide explaining exactly how to do that.
Last chance with eToro before cancelling the account
If you have ever traded at eToro, you will know how easy it’s to start copying other, more experienced traders. All you need to do to start is to scroll through the available trade leaders, check out their statistics and P&L, plus their risk appetite and then choose those that best match your financial objectives. Once you select the traders that you’d like to follow, decide how much you’d like to invest and then click “Copy.”
We have developed a guide to help traders understand how to spot genuinely the best traders on eToro and make a good income from copying them. If you are trading with this broker but haven’t got your expected results, we can help. Check out our eToro guide.
However, if you no longer want to trade with eToro for some reason (for example, unprofitable results, high spreads, low leverage), you might be considering to close your account. This article will tell you how to delete your eToro account.
What type of trader are you?
66% of retail CFD accounts lose money
The Step-by-Step Guide to Deleting Your eToro Account
The traditional way to close an eToro account was to contact their support team and to request closure. However nowadays, the broker provides traders with an available button allowing them to close their accounts with a few simple steps.
Below are the steps to deleting your eToro account.
Close all your positions and withdraw all money from your eToro account.
Go to https://www.etoro.com/customer-service/
Click “Open a New Ticket”
In the “TYPE OF QUERY” box, choose Account Details
In the “I WOULD LIKE HELP WITH” box, choose “Close My Account”
After clicking on “Close Account,” you will be forwarded to a new page. There, select the reason why you want to close your account.
eToro will give you some solutions to your problem. If you change your mind and want to stay with them, choose “Keep my account open.” If you decide to leave, hit “Confirm”.
That’s it. The account closure process may take up to 3 days. After it’s completed, eToro will send you a confirmation email.
The Bottom Line
eToro is one of the major platforms for Social Trading. Hundreds of professional traders are making money from trading and also helping thousands of beginners learn and earn.
If you are considering to cancel your eToro account, follow the steps above. However, it’s okay to leave your account there, because the broker charges no fees on account inactivity.
If you are closing your account because you can’t find your guru to copy, you might want to check out our guide to identifying good traders before taking further steps.