eToro: review of brokerage and account fees for traders in Singapore

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eToro¹ is a social trading and multi-asset investment company, which offers opportunities to invest in a range of asset classes through a mobile app. If you’re considering investing with eToro Singapore, you’ll want to know about the eToro fees you might run into along the way. This guide is for you, with details of the eToro withdrawal fees, commission fees and minimum deposits to help you make the most of your money.

Investing in international markets? We’ll also touch on a great way to save on deposit and withdrawal fees with the Wise multi-currency account.

NB: Information about eToro's fees could be out of date in this article. Please visit eToro's website for updated information

Is eToro legal in Singapore and is it safe?

Before we dive into our eToro review, two key questions: Is eToro safe? and Is eToro legal in Singapore?

You may remember that the Monetary Authority of Singapore (MAS) issued guidance clarifying that a Capital Markets Services (CMS) licence is required for any company offering brokerage services — such as stocks, bonds, and derivatives — in Singapore. MAS strongly encouraged consumers to deal only with regulated entities, warning that those who use unregulated, overseas-based platforms forgo regulatory protections and face risks such as fraud.

At the time, eToro was among the overseas platforms serving Singapore customers, operating via its Australian ASIC licence rather than a local MAS licence. It was one of the earliest global platforms to introduce commission-free stock trading in the Asia-Pacific region². eToro is licensed in multiple jurisdictions, including the UK, US, Australia, and now Singapore³.

In July 2025, eToro activated its Capital Markets Services (CMS) licence with the Monetary Authority of Singapore, allowing it to offer regulated investment services to eligible retail investors in Singapore. This means users in Singapore can access a wide range of assets, including stocks from global exchanges, ETFs, and certain derivatives, through a locally licensed entity⁴.

Safety is always important when money is at risk—and with investing, values can go down as well as up.

That said, it’s still important to understand that regulatory protections and product availability may vary depending on the specific entity your account is held with (for example, eToro Singapore vs other international branches)³.

It’s good common sense to ensure you’re comfortable with the risks involved with investing, and getting to grips with the legislation covering your broker is a good way to start.

eToro commission fees in Singapore

eToro is famous for its 0% commission fee marketing headline. This makes them a popular choice with people starting out in investing, as well as more experienced traders. However, while there is no upfront commission on some eToro services, that doesn’t mean you won’t pay any fees when you invest, trade or withdraw⁵.

We’ll cover the fee categories in more detail in a moment, but it’s well worth looking carefully at the eToro online fee schedule before you open an account, paying particular attention to fees for depositing, withdrawing, and converting funds. More on that - and ways you may be able to save money on currency conversions, in just a moment.

eToro withdrawal fee and conversion fee

All eToro deposits and withdrawals are managed in USD. This means that as a Singaporean, you’ll need to convert your funds to USD when you add money to your eToro account. You can convert your funds yourself, or deposit a different currency and have eToro convert to USD for you. Fees apply when eToro carries out the currency conversion. We’ll look at a smart way to cut these costs next - first, here are the eToro withdrawal fee and eToro conversion overall costs:

eToro’s currency conversion fees depend on your account tier, payment method, and the currencies involved. They’re based on PIPs, which are the smallest possible movement of an exchange rate in FX market conventions.⁶

A pip usually represents 0.0001 for most currency pairs (or 0.01 for JPY pairs). If it sounds complicated, that’s because it is. It’s also an extra fee which you may not be expecting, and which you’ll need to pay every time you deposit any currency other than USD⁸.

If your account is in USD—as is typical for users in Singapore—you’ll usually pay this conversion cost whenever you deposit, withdraw, or trade using a different currency⁶.

Avoid eToro’s complex conversion fees - and cut your costs, with Wise

To avoid paying eToro’s currency conversion fees you’ll need to deposit USD. While you could convert funds with your regular bank, the chances are you’ll be hit by steep fees and a bad exchange rate. Instead, check out the Wise multi-currency account as a simple way to receive, hold, convert and send payments in USD and a whole range of currencies, for less.

Wise customers can get local bank details in 9 currencies for free (including USD and SGD) and then convert their funds to SGD or any of the other 50+ available currencies with the mid-market rate. That can save you up to 6x on fees compared to banks. Wise accounts are free to open, with no ongoing costs, and no minimum balance, making them the perfect way to keep more of your money when investing in foreign currencies.

Stocks & ETFs

When trading stocks and ETFs there are pretty much no fees to worry about, but you’ll still need to bear in mind any costs you incur when you withdraw the funds later.

It’s worth noting that the fee free trading offer may be limited or unavailable depending on the markets you’re looking to invest in and the eToro entity your account is based with. If you’re signed up to eToro Australia, for example, the no fee position only holds for US traded stocks. It’s also not an option for short or leveraged positions.

Crypto

You can also buy or sell a range of cryptocurrencies with eToro, although it’s worth noting that eToro highlights the risks involved, which could mean you lose all your capital due to the speculative nature of these assets. Here are the crypto fees you should know about:

CFDs

CFDs allow customers to trade assets without actually owning them. Options include short selling and leveraged purchasing, for example⁹. If this is how you choose to invest with eToro there are a couple of important fees - one is the spread added to the costs of the purchase, and the other is the overnight fee¹⁰. In both cases, these fees vary based on the specific asset in question, so you’ll need to look carefully at the eToro fee information to make informed choices about your options.

Other fees and minimum deposits

Finally, a few more potential costs and limits to think about when you weigh up whether or not to use eToro:

Summary

eToro is one of several popular investment platforms available to Singaporeans. Part of the appeal of these services is that you’re able to buy and sell assets easily, often using your smartphone. That means you can manage your investment portfolio wherever you are in just a few clicks.

However, as with any sort of investing, there are risks involved, including the risk of losing some or all of your money¹⁵. There are also fees to consider, including the eToro conversion fees which will apply whenever you deposit any currency other than USD. If you choose to open an eToro account, you could cut or avoid this cost entirely with a Wise multi-currency account. Get your Wise account for free, online or through the Wise app, top up in SGD, and convert to USD using the real exchange rate with no markups. You’ll only ever pay low, transparent fees for the services you require, which can work out 6x cheaper than using your normal bank for cross currency transactions.

See how much you can save with Wise today!

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