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 Adedapo Adesanya
The Nigeria Revenue Service (NRS) says the rollout of electronic invoicing (e-invoicing) will strengthen tax compliance, curb revenue leakages and improve transparency in tax administration as it moves to fully digitise the country’s tax system.
The Project Lead for the NRS e-Invoicing Project, Mr Mohammed Bawa, stated this at the DigiTax E-Invoicing Compliance Breakfast Session held in Lagos on Wednesday.
The event, organised by DigiTax, an NRS-accredited e-invoicing platform, formed part of efforts to support the agency’s ongoing education and sensitisation campaign on the e-invoicing mandate.
Mr Bawa said the initiative aligns with global trends in tax digitisation and is expected to help improve Nigeria’s tax-to-GDP ratio, which remains one of the lowest in Africa.
According to him, the system will provide the NRS with greater visibility into transactions across sectors, formalise activities within the informal economy and standardise invoice formats nationwide using globally recognised invoice schemas.
He added that e-invoicing would improve operational efficiency for both businesses and tax authorities while supporting the NRS’ transition from manual and electronic tax administration processes to a fully automated system-to-system interaction model.
Mr Bawa noted that the legal framework for implementation is backed by the Nigeria Tax Administration Act, which prescribes penalties for non-compliance.
He disclosed that the NRS has completed onboarding large taxpayers and is preparing to enforce compliance with defaulting entities.
According to him, medium taxpayers are expected to begin compliance in the third quarter of 2026, while onboarding of emerging taxpayers will commence in 2027, with full adoption targeted for all taxpayers by the end of 2028.
Mr Bawa urged taxpayers yet to be onboarded onto the platform to begin the process and work with accredited service providers to ensure compliance.
On his part, Country Director of DigiTax Nigeria, Mr Olumide Akinsola, urged businesses to look beyond their internal systems and assess the compliance status of suppliers and counterparties.
He warned that businesses whose suppliers fail to transmit invoices through the MBS platform risk losing eligibility to claim Value Added Tax (VAT) input credits on such transactions, describing the resulting supply chain exposure as a significant commercial risk that many organisations have yet to quantify.
Mr Akinsola also announced the launch of DigiTax’s white paper, The State of E-Invoicing Readiness in Nigeria, which examines compliance adoption trends and the readiness gap across different taxpayer segments.
He added that DigiTax operates in Nigeria, Kenya, Zambia and the United Arab Emirates (UAE), noting that experience from those markets shows businesses that integrate early are better positioned to avoid disruptions when enforcement begins.
By Aduragbemi Omiyale
The names of about 100,000 companies registered by the Corporate Affairs Commission (CAC) are about to be deleted for inactivity, especially for failing to file their annual tax returns, Business Post reports.
This information was disclosed by the CAC via a notice signed by its management on Wednesday, July 15, 2026.
The list contains organisations like the Nigeria-Poland Chamber of Trade Invest Ltd, Alariwo of Afrika Ltd, Ovation Sports International, First Union Pension Fund Administrators, Investopedia Limited, Baptist High School Abuja Ltd, and Yobe Aluminium Manufacturing Industries Ltd, amongst others.
In the statement, the commission said its decision to strike off the names of the affected firms from the register aligns with the provisions of Section 692(3) (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
However, the affected companies can still salvage the situation by filing all outstanding annual returns and regularising their records within 90 days.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the register without further notice,” it declared, expressing its continued commitment to providing prompt and efficient registration and regulatory services to the satisfaction of its valued customers.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange gained 1.75 per cent on Wednesday, July 15, pushing the NASD Security Index (NSI) up by 74.20 points to 4,316.51 points from 4,242.31 points, as the market capitalisation added N44.54 billion to finish at N2.590 trillion compared with the preceding session’s N2.546 trillion.
During the session, there was an 11.5 per cent rise in the value of transactions at midweek to N72.7 million from the preceding session’s N65.2 million, as there was a 3.7 per cent growth in the number of deals to 28 deals from the previous session’s 27 deals, while the volume of securities slumped by 64.5 per cent to 4.9 million units from 13.7 million units.
At the close of trades, Great Nigeria Insurance (GNI) Plc ended as the most active security by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, with the second spot occupied by Infrastructure Credit Guarantee (Infracredit) Plc after selling 2.3 billion units valued at N6.5 billion, and the third position was taken by Central Securities Clearing System (CSCS) Plc, which exchanged 74.3 million units for N5.3 billion.
GNI Plc also finished the trading day as the most traded stock by volume on a year-to-date basis, with a turnover of 3.4 billion units traded for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
Business Post reports that the market breadth index was negative yesterday, as there were two price gainers and three price losers.
11 Plc added N22.36 to its value to close at N250.00 per share versus N227.64 per share, and CSCS Plc improved by N7.95 to N90.35 per unit from N82.40 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc lost N1.37 to end at N150.00 per share versus N151.37 per share, UBN Property Plc depreciated by 6 Kobo to N1.75 per unit from N1.81 per unit, and Food Concepts Plc dropped 1 Kobo to close at N2.49 per share versus N2.50 per share.
