Online trading company eToro is introducing a new feature to its clients – recurring deposits, an option to set up automated deposits to one’s account.
Traders get to decide the amount of money and the currency, and then schedule their deposits using a credit/debit card that has already been connected to their eToro account.
To enable the new feature:
- Go to Settings and click on Payments.
- Then click on the banner titled “Recurring Deposits”.
- Select the amount and currency.
- Choose one of the debit/credit cards connected to your eToro account.
- Select the frequency of your deposit, For instance, “Weekly” means a deposit is made once a week.
- After selecting the frequency you have the option to customize the date and/or day of the deposit or accept the default option which is a monthly deposit occurring on the 1st of each month.
At the moment, all users in all clubs can set up recurring deposits, with the exception of users from the US. The minimum amount for setting up such deposits is 50 USD.