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Wikitoro author Wikitoro Team Written by Wikitoro Team
Wikitoro fact checker Nick Zelver Fact checked by Nick Zelver
Updated Feb, 2024

Background

As a seasoned trader on eToro, and having navigated its platform from Mexico, I've tailored this guide to resonate with fellow Mexican investors embarking on their trading journey. My firsthand experience with eToro, coupled with a deep understanding of the Mexican market, has been distilled into this concise yet comprehensive guide. It's designed to offer critical insights and practical advice, ensuring that Mexican traders are well-equipped with reliable, up-to-date, and safe strategies for successful trading.

This guide is a testament to my dedication and expertise in the field, aimed at empowering investors in Mexico with the knowledge they need to thrive in the world of online trading.

Key details for Mexico residents of eToro
🇲🇽 Accepts Mexico Traders✔️
💰 Minimum Deposit $200
🛍️ Market TypesStocks, Commodities, Currencies, Indices, Crypto, ETFs
🏛️ RegulationSeychelles Financial Services Authority (FSA)

Open an account!

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

 

Is eToro Regulated in Mexico?

Under the supervision of eToro (Seychelles) Limited, a financial services enterprise regulated by the Seychelles Financial Services Authority (FSA) with the status of a Securities Dealer, eToro accommodates traders from Mexico. Its license under the Seychelles Securities Act, 2007 (license number SD076) allows eToro to extend its trading services to Mexican residents.

Whether you hail from bustling Mexico City, vibrant Jalisco, historic Veracruz, picturesque Puebla, energetic Guanajuato, industrious Nuevo León, diverse Chiapas, captivating Michoacán, traditional Oaxaca, sunny Baja California, extensive Chihuahua, tropical Guerrero, or maritime Tamaulipas, all Mexican citizens of legal age are eligible to establish an account and engage in trading activities with this platform.

 

Does eToro Have an Office in Mexico?

Despite the absence of a physical branch in Mexico, eToro's service provision to Mexican residents remains unhindered. The primary operational base for eToro (Seychelles) Limited is located in the picturesque Seychelles, at the subsequent address:

eToro (Seychelles) Limited

eToro Suites, S45 2nd Floor, Espace Building

Victoria, Seychelles

 

eToro Mexico Phone Number

eToro, at present, does not offer a localized telephone support line for its customers in Mexico. Still, their client service department remains accessible through multiple channels:

  • Support ticket: After signing in to your account, you can create a support ticket using the email address associated with your account. 
  • Live chat: This feature operates from Monday to Friday, around the clock (24 hours). 
  • Email: You can directly send your queries or concerns to their support email at support@etoro.com without the need to use the website's contact form.

You can access these initial two channels through the Customer Service Center page or by visiting this link: etoro.com/customer-service.

 

Platform

The eToro platform offers versatile access - either via a web browser or by downloading the app, compatible with Android or iOS (iPhone or iPad) devices. Irrespective of your chosen platform, all features remain readily available, enabling a seamless trading experience.

To enhance the user experience, eToro allows for language customization to Spanish - perfect for native speakers. To switch the language, navigate to Settings and select the General sub-menu. Here, you'll find an option to select your desired language, with Spanish or Español included in the list.

 

Deposit Options for Mexican Traders

Mexican traders have the convenience of funding their eToro accounts through the subsequent deposit methods:

  • Credit/debit cards
  • Skrill
  • Neteller
  • Regular bank transfer

This broker handles all transactions exclusively in USD. As a result, should you deposit funds in Mexican pesos (MXN), the broker will automatically convert them to USD, and a nominal conversion charge will be applied.

 

Minimum Deposit for MX Residents

To kickstart your trading journey, eToro necessitates an initial deposit of $200, approximately 3700 Mexican pesos. For subsequent deposits, the minimum threshold reduces to a mere $50. Nonetheless, for traditional bank transfers, a minimum deposit requirement of $500 is in place.

 

Fees for Mexico Clients

The fee structure for eToro applies uniformly to traders from Mexico and other nations alike. For instance, retaining a CFD position open over the weekend incurs an overnight fee at a standard rate, irrespective of your domicile or country of residence.

 

Withdrawal Fees for Mexico Traders

A minimum withdrawal limit of $30 is enforced on your account. Each withdrawal attracts a flat fee of $5, a rate that remains constant regardless of the withdrawn amount, be it $30, $100, or $500, the charge per transaction remains at a steady $5.

 

Trading Stocks on eToro

Currently, eToro doesn't offer stocks from the Mexican Stock Exchange, often referred to as Mexican Bolsa, Mexbol, or BMV. That said, they do facilitate access to a wide assortment of stocks from numerous global exchanges, including:

  • NYSE
  • NASDAQ
  • London
  • Hong Kong
  • Frankfurt
  • Paris
  • Zurich
  • Madrid
  • Milan
  • Stockholm
  • Amsterdam
  • Oslo
  • Copenhagen
  • Helsinki
  • Brussels
  • Lisbon
  • OTC Markets
  • Saudi Arabia
  • Chicago

Kindly be informed that direct trading in actual stocks on eToro is carried out without the application of leverage. When leverage is employed, these stock positions are regarded as Contracts for Difference (CFDs).

 

Trading Mexican Peso (MXN) Currency Pair

eToro provides a broad spectrum of Forex instruments, featuring the option to trade the currency pairing of the Mexican peso with the US dollar (USDMXN).

In addition to this specific pairing, eToro furnishes access to a diverse assortment of more than 50 Forex instruments. With options to tactically execute Buy or Sell orders, you are equipped with the versatility required to effectively traverse the currency market.

 

Registration for MX Residents

The registration process for Mexican residents is on par with that of traders from other countries. Initially, you will need to set up your preferred username, email, and password.

It is mandatory to acknowledge the financial terms, disclosure statement, and services guide of eToro (Seychelles) Limited. As an FSA-regulated entity authorized to cater to traders in your locale, it's critical to verify that the correct company is indicated on the online registration page.

 

Top eToro Mexico Traders

As of this writing, some of the most distinguished Mexican traders participating in the eToro Popular Investor program are listed below. These traders uphold a risk score that fluctuates between 3-4, with the most experienced trader active since 2014.

Top Mexico Traders on eToro
TraderUsernamePopular Investor Level
Angel Rodriguez Barrera@agenteangelCadet
Mónica Andrea Arauco Ballesteros@maab1991Cadet
Raul Salvador Ramirez Vazquez@3trnaloptimistChampion
Nestor Antonio Armstrong Rodriguez@nestorarmstrongChampion

 

eToro Mexico Stats

According to eToro's Q4 2022 Investor Update, released in March 2023, it reported a total of 2.8 million funded accounts. Of note is that 12% of these accounts are from the Americas, a geographical area that includes Mexico, as reported on December 31, 2022.

 

Frequently Asked Questions (FAQ)

Can users from Mexico trade on eToro?

Yes, eToro is open to both citizens and residents of Mexico for trading purposes. As a multinational online trading platform, eToro operates in numerous countries, Mexico being one of them. Traders in Mexico are permitted to create an eToro account, add funds, and commence trading.

What are the fees on eToro for Mexico traders?

Similar to other countries, eToro maintains a uniform fee structure for its services, encompassing trading fees, withdrawal fees, conversion fees, and inactivity fees. For instance, eToro applies a $5 flat fee for every withdrawal, irrespective of the trader's country of residence.

How do I open an eToro account in Mexico?

To set up an eToro account, follow these steps:

Navigate to eToro's website at www.etoro.com and select the "Join Now" button.

Establish a unique username and password for your eToro account and input your email address.

Confirm your email address by clicking on the verification link dispatched to your email by eToro.

Fill in the eToro application form by offering additional details, such as your residential address and date of birth.

Submit a copy of your government-authorized ID to validate your account.

It's essential to highlight that eToro might request supplemental documents or data to confirm your identity or meet regulatory mandates. Also, it's crucial to read and comprehend the terms and conditions prior to initiating an account.

What documents do I need to verify my eToro account if I am from Mexico?

For Mexico residents verifying their eToro account, certain documents are necessary:

A valid government-issued ID such as a driver's license, national ID, or passport.

A proof of address document like a utility bill, bank statement, or tax record.

If you use a credit/debit card or e-wallet for deposits, you might need to show the front and back of the card or an e-wallet screenshot.

eToro may require a selfie of you holding your ID or a paper with a specific code.

The verification process can take several days, and they may also ask for extra documentation. Ensure all documents are legible and match your broker account details.

What can I trade on eToro if I am from Mexico?

For eToro users based in Mexico, a wide variety of trading instruments are accessible. This includes forex, commodities, stocks, market indices, cryptocurrencies, and ETFs. There are over 3000 distinct assets available on the platform.

Does eToro offer demo accounts in Mexico?

Yes, traders residing in Mexico can avail themselves of a free demo account, which becomes accessible following the successful creation of a live trading account.

How can I find successful Mexico traders to copy on eToro?

To copy eToro traders hailing from Mexico, you'll need to utilize the platform's CopyTrader function. Within this feature, you can adjust the search parameters to display only traders based in Mexico. Further fine-tuning based on trading style, risk score, past performance, and other criteria can assist in locating traders that align with your investment style and preferences.

What trading platforms does eToro offer in Mexico?

Every eToro platform is available to traders based in Mexico. This includes the browser-based platform compatible with most web browsers, as well as the mobile application. The app is downloadable on mobile devices running either Android or iOS operating systems, so you can enjoy trading on-the-go.

 

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

Wikitoro author Wikitoro Team About Wikitoro Team

The Wikitoro Team is a dynamic group of five seasoned eToro traders who have been actively using the platform since 2018. As pioneers in establishing the Wikitoro wiki site, we are dedicated to ensuring the accuracy and reliability of the information we provide. Our team regularly verifies data and content from our authors and contributors, taking turns to meticulously review each piece. Our commitment is to offer our readers factual and precise information, reflecting our extensive experience and deep understanding of the eToro platform.

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