How to Fund Your eToro Account (Philippines)

How to Fund Your eToro Account (Philippines)
eToro Photo

BACKGROUND INFO, eToro is the world’s leading social trading and multi-asset brokerage company that offers a wide array of tools to invest in the capital markets. Its online platform has both manual and social trading features.

eToro’s social trading enables its clients to follow the financial trading activities of other clients and use its CopyTrader system to replicate everything these trades do in real-time.

For manual traders, eToro provides a selection of stocks, currencies, commodities, cryptocurrencies, ETFs, and indices through its own innovative trading platform. Using the professional tools and analyses on eToro, traders can track and invest in a variety of financial instruments.

While you are always advised to trade (or invest) only what you can afford to lose, this but provides a simplified guide on how to fund your eToro online trading account, that is if you are in the Philippines. Currently, these are the available account funding channels:

  • Credit and Debit Cards (Visa and MasterCard)
  • GCash MasterCard
  • PayMaya Visa or MasterCard
  • Online Bank Transfers (via DragonPay)
  • PayPal

Credit Card, Debit Card, GCash, and PayMaya (Visa and Mastercard)

[1] Log in to your eToro account and click on Deposit Funds.

[2] Enter the amount and select the currency.

[3] Choose Credit/Debit Card option from the drop-down menu.

[4] Then, input your credit or debit card information including your card number, expiration date, and CVV (three digits on the reverse side of the card). You need the same information for GCash and PayMaya transactions (refer to your GCash (physical) and PayMaya (virtual) prepaid cards).

[5] Click Submit. You might be needing your phone for the OTP if you have it activated for your online card transactions.

[6] Wait for the confirmation. Accordingly, your trading account should be credited within minutes. If for any reason your transaction has been declined, you will be notified the reason of declination.

Online Banking (via DragonPay)

[1] Log in to your eToro account and click on Deposit Funds.

[2] Enter the amount and select the currency.

[3] Choose Local Online Banking option from the drop-down menu and click Submit. You will then be redirected to DragonPay’s page.

[4] Select your bank from the drop-down menu. Further steps vary depending on your bank, but these end with you typing your email address and clicking on Send Instructions via Email.

[5] Check your email and follow the payment instructions attached.

[6] Wait for the confirmation. Accordingly, your trading account should be credited within minutes. If for any reason your transaction has been declined, you will be notified the reason of declination.

eToro Deposit FAQs

PayPal

[1] Log in to your eToro account and click on Deposit Funds.

[2] Enter the amount and select the currency.

[3] Choose PayPal option from the drop-down menu and click Submit. You will then be redirected to PayPal account login page.

[4] Login to your PayPal account and review details of the pending transaction.

[5] Simply click on Pay Now.

[6] Wait for the confirmation. Accordingly, your trading account should be credited within minutes. If for any reason your transaction has been declined, you will be notified the reason of declination.

Important Notes

[1] The minimum first-time funding amount is 200USD (around PHP10,000.00), and 50USD (around PHP2,500.00) for succeeding deposits.

[2] As of this writing, eToro does not charge deposit fees, the same way as the local Philippine banks. However, currency exchange rates vary from time to time.

[3] Funding your eToro account via these methods is safe, private, and secure. All transactions are communicated using Secure Socket Layer (SSL) technology, ensuring that your personal information is kept safe.

[4] eToro does not allow third-party payments. A third-party payment is a deposit made using a payment method that is not in the same name as the owner of the eToro account.

[5] For credit card and other channels, the transaction will show as ‘eToro (Europe) Ltd.’ on the financial statement of your payment provider.