As an investor, you want to be able to deposit funds into your trading account quickly, easily, and without paying high fees. Unfortunately, many online trading platforms charge some conversion fees when you deposit funds in a currency different from your account currency. But there are ways to avoid these fees, and we will discuss them in this post.

Using Wise

Wise, formerly known as Transferwise, is a popular currency exchange service that allows you to convert your currency at a lower cost than what traditional banks charge. With Wise, you can link your account to your eToro account and deposit funds directly. This is a great option if eToro Money is not available in your country or if you prefer to use a more general currency exchange service.

Using Wise can save you a significant amount on conversion fees, and we highly recommend it. However, keep in mind that there will still be some fees associated with using Wise, although they are typically much lower than traditional bank fees.

Request a debit card

Although you might be able to deposit and withdraw money using standard bank transfer, having a debit card would simplify your deposit and withdrawal to your broker, and you can always use it for your holiday spending!

And if you decide to use Wise, please consider using our affiliate link to support our website. Thank you!