Economy
Experts Advise on How to Successfully Close eToro Account in 2023
eToro is like a big global marketplace for people who want to trade. It has been around since 2007 and serves folks in over 140 countries. It’s great for both the pros who know their stuff and newcomers who are just starting out. They even have a practice account for beginners and ways for people to earn without doing much. Sometimes, though, things don’t work out, or people just change their minds. Traders Union has got you covered with a guide on how to close eToro account the right way.
Comparing eToro account options
eToro offers trading conditions that many find appealing due to its unique features. Initially, traders need to deposit $200, but after that, they can top up with as little as $50. If you’re looking to mimic another trader’s moves, you’ll need a minimum of $500. The smallest amount you can copy from another trader ranges from $1 to $2. The leverage they offer aligns with European regulatory standards.
eToro essentially provides two main account types: a practice (demo) account and a standard trading account. Both are set up for direct trades or for copying others. Occasionally, there’s an option for a distinct shares account, especially when engaging with US stock markets.
For those leaning towards hands-off investing and keen on building smart investment strategies, eToro stands out as a go-to platform. TU’s analysts recognize its potential for those focusing on passive investment methods.
Closing your eToro account made it easy
According to Traders Union experts, shutting down your eToro account is straightforward. Here’s how you can do it:
- Online: Log in, head to settings, choose “Account”, and click “Close your eToro account”. State your reason, then hit “Continue”.
- Email: Send a request titled “Account deletion request” to Pa******@***ro.com, explaining why you want out.
- Phone: Call support at 1-888-271-8365, and they’ll guide you through.
Remember, once closed, you can’t reopen that account. You’d need a new email and username to register again.
Why do people close their eToro accounts?
TU’s analysts have highlighted several reasons why individuals decide to close their eToro accounts:
- experiencing losses because of high leverage or not mastering risk management;
- finding the trading platform challenging to navigate;
- slow withdrawal processes;
- trading not going as hoped;
- missing desired trading instruments on the platform;
- receiving too many unwanted emails or notifications.
In the past, users had to reach out to client support to close their accounts. Now, the process is more streamlined, but always ensure you’ve withdrawn all your money first.
Steps to cash out your money
Ensure the amount you wish to take out is available in your balance. To withdraw, follow these steps:
- On the left menu, click “Withdraw Funds”.
- Input the amount you want to withdraw.
- Click on “Continue”.
- Choose the currency for withdrawal.
- Check the pre-selected payment method. If it doesn’t suit you, opt for “Other Payment Options”.
- Click “Submit”.
For any queries about withdrawing funds or closing your account, eToro’s support team is there to assist.
Conclusion
In summary, eToro has cemented its place as a top trading platform since its inception in 2007, catering to both experienced traders and beginners alike. With unique features and varied account options, it offers a wide spectrum of trading opportunities. However, if for any reason you decide to part ways with eToro, the process is now more user-friendly than ever. Whether you choose to close your account online, via email, or over the phone, it’s essential to ensure all funds are withdrawn. As always, for any trading decisions or processes, it’s wise to consult platforms like Traders Union or reach out to eToro’s dedicated support team for guidance.
By Modupe Gbadeyanka
Nigeria’s First Lady, Mrs Oluremi Tinubu, has given Nigerians business advice that may not involve a lot of money to start.
Speaking with newsmen recently, the wife of President Bola Tinubu said businesses like akara (fried bean cake), kulikuli (a crunchy snack from roasted peanuts or groundnuts) and roasted corn can be set up without breaking the bank.
She disclosed that to support her husband’s Renewed Hope agenda, she has provided funding packages to traders and others to the tune of N3.5 billion.
“To start akara business doesn’t take a lot of money. To start roasting corn and kuli-kuli doesn’t take much. We didn’t give them a loan; we gave it to them as a grant,” she stated.
She further said, “We’ve encouraged Nigerians as best as we could, what is within our hands, I have given, and I keep giving. Those are the things we’ve done.”
“I remember giving for TB (tuberculosis) when I heard of many TB cases; I gave N2 billion, to breast cancer, I gave N1 billion, and to [tackle] malnutrition, I gave N500 million.
“These are the things we’ve been doing to assist the government. So, we’ve had impact in agriculture, social investment, education (as scholarship and ICT training) and others. We are still open to doing more,” she disclosed.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rallied by 1.70 per cent on Thursday, June 25, after three price gainers overpowered the two price losers recorded at the close of business.
Consequently, the market capitalisation of the trading platform increased by N43.79 billion to N2.618 trillion from N2.574 trillion, and the NASD Security Index (NSI) improved by 72.96 points to close at 4,362.32 points, in contrast to Wednesday’s 4,289.36 points.
Yesterday, the price advancers were led by Nipco Plc, which chalked up N31.79 to close at N349.76 per unit versus the preceding day’s N317.97 per unit. Okitipupa Plc gained N18.00 to end at N298.00 per share versus the previous session’s N280.00 per share, and Central Securities Clearing System (CSCS) Plc went up by N7.11 to N86.79 per unit from N79.68 per unit.
On the flip side, Nitrox Industrial Gases Plc crumbled by 32 Kobo to close at N21.09 per share compared with the N21.41 per share it closed at midweek, and Food Concepts Plc depreciated by 25 Kobo to N2.51 per unit from N2.76 per unit.
During the session, the value of securities traded by investors went down by 86.7 per cent to N10.9 million from the preceding session’s N82.9 million, and the volume of securities dropped 84.9 per cent to 10.9 million units from the previous 82.9 million, while the number of deals grew by 84.2 per cent to 35 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.4 million units exchanged for N4.7 billion.
GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further suffered a 0.64 per cent decline on Thursday as the bears tightened their grip on the bourse.
For the second straight session, all the key sectors of Customs Street pointed south, with the energy counter down by 5.22 per cent. The insurance index slumped by 2.59 per cent, the banking space depreciated by 0.28 per cent, and the consumer goods segment moderated by 0.06 per cent, while the industrial goods sector was flat, though with a marginal fall.
As a result, the All-Share Index (ASI) contracted by 1,493.71 points to 233,580.83 points from 235,074.54 points, and the market capitalisation retreated by N959 billion to N149.888 trillion from N150.847 trillion.
Investor sentiment remained weak after a negative market breadth index, as there were 21 price gainers and 34 price losers.
Aradel and Deap Capital went down by 10.00 per cent each to N1,575.00 and N4.05, respectively. Trans-Nationwide Express fell by 9.90 per cent to N3.64, Regency Alliance slipped by 9.57 per cent to N85 Kobo, and C&I Leasing dipped by 9.48 per cent to N28.12.
Conversely, Red Star Express grew by 9.60 per cent to N24.55, Legend Internet expanded by 9.09 per cent to N6.00, Neimeth appreciated by 7.10 per cent to N8.30, Abbey Mortgage Bank rose by 5.45 per cent to N8.70, and Ellah Lakes improved by 4.65 per cent to N9.00.
Yesterday, market participants traded 393.7 million equities valued at N19.2 billion in 45,813 deals compared with the 488.1 million equities worth N20.9 billion transacted in 46,239 deals recorded a day earlier, implying a shortfall in the trading volume, value, and number of deals by 19.34 per cent, 8.13 per cent, and 0.92 per cent, respectively.
The most active stock for the session was Access Holdings with a turnover of 39.1 million units worth N896.2 million, Chams traded 24.5 million units valued at N96.5 million, Fidelity Bank sold 24.1 million units for N436.9 million, Sterling Holdings exchanged 23.8 million units valued at N182.2 million, and Zenith Bank transacted 18.9 million units worth N2.1 billion.
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