Whether you’re new to trading or an experienced investor, this page will walk you through the essentials of how trades are executed using your GBP or EUR account (eToro Money), and how fees are applied.
Note: Currently, funds from the closure of positions are credited to your USD account. Funds credited to GBP or EUR accounts will come in the next phase.
Why trade with your GBP or EUR account?
The GBP or EUR account is part of our effort to offer you a more localised trading experience, and means that you can deposit, hold and withdraw funds in your local currency, rather than having to convert to USD by default upon depositing. This allows you more choice, plus you don’t have to pay conversion fees when you trade local assets.
There are several potential advantages to making trades with your GBP or EUR account:
You can access your funds in GBP or EUR (according to where you live), and invest directly from the trade execution screen with no need to manually deposit or withdraw to/from your USD-based investment account.
You can hold funds in GBP or EUR (in your GBP or EUR account) or USD (in your eToro investment account), which allows you to decide how to manage your currency strategy and exposure between USD and GBP or EUR.
There are no conversion fees when you trade (buy or sell) GBP or EUR-based assets, with your GBP or EUR account. There are also no conversion fees when you transfer (deposit/withdraw) between your local GBP or EUR bank account and your eToro GBP or EUR account.
Opening a position with your GBP or EUR (eToro Money) account balance
Important notes:
When you open any position on the eToro investment platform with your GBP or EUR account, your GBP or EUR funds are converted to USD, and moved to your eToro investment account, from where your trade is executed. (There are no conversion fees incurred for the conversion to USD described above.)
If the asset you are buying is USD-based, then no further currency conversion is required.
If the asset you are buying is based in a currency other than USD, we will convert your funds to that non-USD currency, but we will not charge you any conversion fees.
When buying assets based in a currency other than USD: while your order is pending, changes to the USD exchange rate at the time of conversion may impact the price of the position you are trading, affecting the cost to buy, or the proceeds you receive.
If you use your GBP or EUR account to open a position, you must enter the number of units you wish to purchase (not the USD value). This applies to all trades regardless of the base currency of the asset you’re purchasing.
For out-of-hours and limit order trades, the funds will be converted to USD when you create the order and will be held in USD while your order is pending. If you cancel the order, the funds will be returned to your USD balance, and not returned to your GBP or EUR account.
If your order fails to execute, the funds will be returned to your USD balance.
Trading with your GBP or EUR account is only available for real stocks and cryptoassets. CFDs, Copy and Smart Portfolio investments can only be made with USD funds.
If your USD account has a negative balance, the option to select your GBP account on the trade screen will be disabled. You will need to bring your USD account back to at least zero to enable trading with your GBP funds.
Different entities
By opening a position using your GBP account balance, please note that the eToro Money UK Ltd entity is transferring funds to the eToro (UK) Ltd entity for execution by this entity. Note that if the execution of the trade fails, the funds may remain in your eToro investment account (in USD).
By opening a position using your EUR account balance, please note that the eToro Money Malta Ltd entity is transferring funds to the eToro (Europe) Ltd entity for execution by this entity. Note that if the execution of the trade fails, the funds may remain in your eToro investment account (in USD).
Trading Fees
When opening a position with your GBP or EUR account, our regular trading fees apply. Learn more here.
It’s important to understand that these fees are calculated in USD, and are included in the amount taken from your GBP or EUR account upon opening and closing a position.
There are zero conversion fees when trading GBP or EUR-based assets using funds from your GBP or EUR account (eToro Money).
Also, please note that conversion fees may apply when you open or close a position for which the asset is based in a different currency from your GBP or EUR account.
For more information, see our Fees page.