eToro is not like any other investment app, because it doubles as a social network.
It’s basically a social investing platform, and it’s the largest of its kind in the world, with over 25 million users on board.
And while many people go to eToro to find out what stocks are worth investing in, it’s also somewhere where you can easily sell any stocks and shares that you no longer wish to hold.
This might be because the value isn’t quite going in the direction that you thought it would or as fast as you thought it would, or perhaps you simply feel that your money will serve you better elsewhere.
Either way, selling stocks on eToro is easy, and this article is going to explain exactly how to do it, and address everything else you need to know along the way.
By the time you reach the conclusion at the end of the article, you will know exactly what to do and how to do it.
Side note – it is beyond the scope of this article to go into deciding when you should sell stocks or what stocks are best to invest in instead of what you want to sell. For information on this, simply have a look elsewhere on the website.
Side note – The instructions provided are for the desktop version of the app and not the iOS or Android versions.
More About eToro
The advent of eToro sparked a financial revolution that continues to sweep the globe to this day.
And not only can you use it to buy traditional stocks, but you can also use it to buy cryptocurrency such as Bitcoin, Ethereum, and more.
What’s more, you can invest exactly how much you want by buying fractional shares rather than full shares. You can diversify your portfolio as much as you wish, and pay zero percent commission.
Why Use eToro For Buying And Selling Stocks
The attraction of eToro is how you can use it to get tip-offs from top investors via its social platform. But it does have other advantages besides.
eToro has been in the business for over a decade now, and has established its position as an industry-leading brand.
Moreover, your account remains protected by industry-leading security systems, and all of your sensitive information remains 100% private.
Their reliability is also strengthened by the fact that your investments are insured up to a whopping $250,000.
How To Sell On eToro
To be perfectly honest, selling on eToro is incredibly easy. Here’s what to do.
- Step 1 – From the menu on the left-hand side of the website, click on Portfolio. This will take you to your Portfolio page, which is very much like a dashboard. It lists all the stocks you hold, and details the price of each, the number of units you own, the total value you own of each stock and more.
- Step 2 – When you select which asset you want to sell from, you will then be provided with all of your positions for that asset, also referred to as lots.
- Step 3 – In order to sell one of these lots, all you have to do is click on the red “X” on the right-hand side of that particular lot.
- Step 4 – You will then be asked to confirm your decision. This is particularly handy for those who accidentally click on the red “X” when they have no intention to sell.
Once this is done, the value of the asset you closed is then refunded back into your account.
It’s important to note at this point that you can only enter sell orders for stocks during market hours.
How To Get People Wanting To Buy Your Stock
So, now you know how easy it is to close the stocks you no longer wish to keep. As you can see, you can do this all without having to get someone to buy the stock from you.
But if you did want to drum up interest in the stock you want to sell, you could use the app’s social network platform to drum up interest in the stock.
If you wanted to go down this route, the key to this would be to leverage interest from a top investor.
And due to “the wisdom of the crowds” and how people on the platform are encouraged to copy the actions of top investors, you will soon find people who may be willing to take the stocks off your hands.
How To Withdraw Your Money From eToro
Given that so many people decide to sell their stocks because they want to release the money they’d invested, we figured it was worth including a section on how to withdraw your money from eToro.
The steps you need to take are as follows.
- Step 1 – Head over to the menu on the left-hand side of the screen and click on Withdraw Funds
- Step 2 – In the pop-up that comes up, simply type in the amount that you want to withdraw. (There is a minimum withdrawal amount of $30.) If you move to withdraw all of your equity, there will be a warning to let you know that you won’t be able to make any further investments if you withdraw all your money. Then click on continue.
- Step 3 – You will then be asked if you’re sure you want to withdraw, at which point you simply click on continue once more. There will be another verification pop-up, and you just click on continue once again.
- Step 4 – You will then be asked why you want to withdraw funds, and there’s a drop-down box to help you. Click continue. It will then show what bank you have on file, and you click Submit Request. You will then receive a confirmation pop up and be informed that it could take up to two days for the funds to get into your account.
So as you can see, selling on eToro is actually very easy, much like withdrawing your funds. The tricky part is knowing when to sell, so good luck to you on that.