eToro is a trading platform for Foreign currency exchange i.e Forex. It is quite good. You just have to be a brainy, patient, careful investor and most of all not greedy. Their copy Trader function rocks. Most of the countries don’t have problem with funding eToro account and trading in forex. However, in India and in many other countries; forex trading rules for individuals are bit hazy lines. No one exactly knows that is it really illegal or not. There are many circulars which says it’s ok and many says it’s an offence.
Let’s not fall in those things. Our topic is different here. As per RBI mandate, most of the Credit cards are restricted to used for Forex funding. This rule is mainly for individuals. However, I came to know some cards do work with eToro and other sites. As mine didn’t work, I decided to try my Entropay card and it worked.
I am considering that you have an Entropay account and you have funded it with your Credit or Debit card. If you don’t know how then search my site using google from top bar. I have written 2-3 guides on them.
As a Warning: Just remember that eToro needs cross-verification of your Credit Card when you ask for withdrawals. This is a one time process but I haven’t faced it yet. I will post it as soon as I know how to handle that.
You can open an eToro account here (if you are not Indian then use this link to get $50 extra on first deposit of $100) and then guide yourself to Add funds. If you have an eToro account then you can go to cashier from Open Book or Select Add funds from your profile name in Webtrader (present in top bar).
1. Select value need to be funded. Minimum is $50. However, I will suggest to go for $100 to get extra money.
2. Make sure credit card type is VISA. Next to it, put your 3 digit CVV code as shown on your Entropay Card.
3. Enter your Entropay Credit Card number and then expiry dates.
4. Enter your real name, address and other details. Don’t fill in wrong details or spam values. That may lead to rejection of payment.
Now hit Submit. A process will start and after successful deposit a screen will notify you about it. You will also get an email saying the same.
Now be responsible and happy trading.