Can You Use PayPal with eToro?

Written by Mike Druttman

Reviewed by Nadav Zelver

Yes, you can use PayPal with eToro. Upon completing the necessary account verification, you can select this as a payment method for deposits. However, it's important to note that PayPal's availability as a payment option and the minimum deposit amount may vary depending on your country.

In the world of online trading, the convenience of deposit methods is a crucial factor for many traders. As someone who juggles multiple accounts across various platforms, each with its own set of payment methods, I've always found PayPal to be one of the most reliable and user-friendly options. This preference led me to explore whether eToro, supports PayPal. Here, I share the results of my exploration.

Credit Cards and PayPal are not available for deposits to the eToro balance of users under the FCA regulation.

Post Registration

Upon registering with this broker, I learned that completing account verification was a prerequisite for making any deposits. Eager to fund my trading account, I promptly proceeded with the verification process.

To my relief, the process was neither lengthy nor complicated, taking approximately 15 minutes to complete. The following day, I received a notification confirming that my account was fully verified.

The Moment of Truth

With anticipation, I accessed the eToro app, logged in, and clicked on the "Deposit Funds" button. A pop-up window emerged, displaying a list of available payment methods. Take note that the minimum deposit starts from $50 USD (depending on the user's regions). and $50 for UK and US residents. 

I selected my preferred payment method and entered the minimum deposit amount. After confirming the payment, the funds were seamlessly transferred to my trading account.

My Key Takeaways

1. Account Verification is Required: Regardless if you're going to use PayPal or any other payment method, you need to finish the account verification process in order to make a deposit.
2. PayPal Support Varies by Country: It's important to note that not all countries support PayPal as an eToro deposit method. I was fortunate that my country, the UK, does.
3. Minimum Deposits Differ Across Countries: The minimum deposit amount on this broker can vary depending on where you are located. In my case, it was $50, but this amount could be different in other countries.

This experience with eToro and PayPal was a smooth and efficient process, aligning well with my preference for hassle-free transactions. For those considering this broker, it's advisable to check both the availability of this particular payment method in your country and the specific minimum deposit requirements.