What is a local currency account on etoro?

A local currency account on etoro allows you to deposit, hold, and withdraw funds in your own currency, alongside your USD account.

Find out if a local currency account is supported in your region

With a local currency account, you can:

• open new positions using its account balance
• close positions and receive the funds directly into its balance
• move funds to and from your USD account
• send money to or receive money from others in your local currency
• use an etoro Visa debit card, if available to you

Benefits of a local currency account

A local currency account can help you reduce conversion fees and manage your currency exposure more efficiently. It also allows you to keep your payments and incoming funds in one place alongside your USD account.

You can reduce conversion fees in several ways:

• when depositing and withdrawing funds in your local currency
• when moving funds between your local currency account and USD account – etoro Club members receive additional discounts
• when opening or closing positions on assets that share the same base currency as your local currency account
• by converting only the funds you need when opening positions in other currencies, giving you more control over timing and cost

How do I open a local currency account?

etoro app

1. Tap Wallet at the bottom of the screen.
2. Select Open [your local currency*] account and follow the on-screen instructions.

Desktop/web

1. Select Wallet in the sidebar.
2. Select Open [your local currency*] account and follow the on-screen instructions.

etoro AI

1. On the Home tab, tap Available.
2. Select Open [your local currency*] account and follow the on-screen instructions.

Setting up your local currency account is usually instant. If creating the account takes longer than expected, we'll email you as soon as it's ready.

Once set up, you can access and manage your local currency account from the Wallet tab in the etoro app and the web version of etoro, or by tapping Available on the Home tab in the etoro AI app.

*You can only open an account in the currency available to you based on your country of residence.