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 [email protected], 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
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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