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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

Opening Thoughts

As someone who has personally engaged with eToro from Norway, I've developed this guide to share my insights with fellow Norwegian investors. My journey on the platform has been shaped by the unique financial landscape of Norway, providing me with a deep understanding of the nuances involved in successful online trading.

Unpacking the Topic

This page I created is the result of my extensive experience and research, tailored to address the specific needs and questions of those in Norway considering this online brokerage firm. It's a comprehensive resource, reflecting my commitment to offering reliable, safe, and up-to-date advice. My aim is to empower Norwegian traders with the knowledge and confidence needed to navigate the world of online investments effectively.

Key details for Norway residents of eToro
🇳🇴 Accepts Norwegian Traders✔️
💰 Minimum Deposit $50
🛍️ Market TypesStocks, Commodities, Currencies, Indices, Crypto, ETFs
🏛️ RegulationCyprus Securities Exchange Commission (CySEC)

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 Norway?

eToro accommodates traders based in the Netherlands under the umbrella of eToro (Europe) Ltd., a financial institution under the stringent regulation of the Cyprus Securities Exchange Commission (CySEC) with license #109/10. This authoritative endorsement facilitates eToro's operation in the Netherlands and other European countries.

From the northernmost reaches of Nord-Norge, through Trøndelag and Vestlandet, to the southern edges of Sørlandet, and across the expanses of Østlandet, all Norwegian citizens of legal age have the ability to establish an account and commence trading with eToro.

 

Does eToro Have an Office in Norway?

Despite the lack of a physical branch in Norway, eToro continues to extend its comprehensive trading services to Norwegian residents with efficiency. The hub of operations for eToro (Europe) Ltd. is stationed in Cyprus, specifically located at the following address:

eToro (Europe) Ltd.

4 Profiti Ilia Str., Kanika Business Centre

7th floor, Germasogeia, 4046

Limassol, Cyprus

 

eToro Norway Phone Number

While eToro doesn't currently offer a dedicated local telephone line for its customers in Norway, they ensure their client base remains connected via various other communication channels:

  • Support ticket: You can raise a support ticket directly from your account using your registered email address. 
  • Live chat: This method is operational 24/5, exclusively on weekdays for immediate response. 
  • Email: Directly send your queries via email to support@etoro.com without requiring a separate contact form.

These communication avenues can be accessed through the Customer Service Center page or by clicking on the following link: etoro.com/customer-service

 

Platform

The trading platform is readily accessible via a web browser or through a dedicated app, compatible with both Android and iOS (iPhone or iPad) devices. Regardless of the platform you opt for, all features are consistently available across all platforms, and you can smoothly perform all trading activities.

For the convenience of Norwegian users, the platform language can be adjusted to Norwegian. To modify the language preference, navigate to the Settings and proceed to the General sub-menu. Therein, you'll find the option to select your preferred language, including Norwegian or Norsk.

 

Deposit Options for Norwegians

For individuals residing in Norway and looking to invest through eToro, they can conveniently fund their accounts using the following deposit options:

  • Credit/debit cards
  • Trustly
  • Rapid Transfer
  • Regular bank transfer

Once the initial deposit has been successfully completed, users will have access to additional payment options for future transactions:

  • PayPal
  • Skrill

Note: The platform operates its financial transactions solely in US Dollars. As a result, if you deposit funds in a currency other than USD, such as Euros, your funds will be automatically converted to USD. Please note, a small conversion fee will be applied during this process.

 

Minimum Deposit for Norway Residents

To commence your trading journey with eToro, an initial deposit is necessary. Presently, this stands at $50, roughly equivalent to €46. This minimum deposit requirement remains consistent for subsequent deposits. Please note, if you choose to fund your account via conventional bank transfers, the minimum deposit amount rises to $500.

 

Fees for Norway Clients

The fee structure for eToro remains consistent for Norwegian traders, aligning with the standard rates applied to traders from all nationalities. For instance, if a CFD position remains open over the weekend, an overnight fee is levied at a standard rate, irrespective of your country of residence.

 

Withdrawal Fees for Norway Traders

The lowest withdrawal amount permissible from your account is $30. Every withdrawal incurs a fixed fee of $5, regardless of the withdrawn amount. Therefore, whether you choose to withdraw $30, $100, or $500, the transaction fee remains a flat rate of $5.

 

Trading Norwegian Stocks on eToro

eToro presents a range of Norway's premier companies, representing diverse sectors such as financial services, telecommunications, mining, consumer commodities, and real estate. The platform accommodates over 20 stocks from the Oslo Børs (a component of Euronext) for trading. The selection includes the following notable companies:

  • Norsk Hydro (NHY.OL)
  • NEL ASA (NEL.OL)
  • Norwegian Air Shuttle (NAS.OL)
  • Aker BP ASA (AKRBP.OL)
  • Subsea 7 (SUBC.OL)
  • Equinor ASA (EQNR.OL)
  • Yara International (YAR.OL)
  • Mowi ASA (MOWI.OL)
  • Petroleum Geo-Services (PGS.OL)
  • Tomra Systems (TOM.OL)
  • Storebrand (STB.OL)
  • Golden Ocean Group (GOGL.OL)
  • Nordic Semiconductor ASA (NOD.OL)
  • Prosafe (PRS.OL)
  • Telenor (TEL.OL)
  • BW LPG (BWLPG.OL)
  • TGS-NOPEC (TGS.OL)
  • SalMar ASA (SALM.OL)
  • Scatec ASA (SCATC.OL)
  • Orkla (ORK.OL)
  • MPC Container Ships ASA (MPCC.OL)
  • DNO ASA (DNO.OL)
  • DNB Bank ASA (DNB.OL)
  • Aker Solutions (AKSO.OL)
  • Gjensidige Forsikring (GJF.OL)
  • Schibsted ASA (SCHA.OL)

Kindly be aware that trading in physical stocks is conducted without any leverage. Any position involving leverage is considered a Contract for Difference, or CFD.

 

Trading Norwegian Krone Currency Pairs

The eToro platform presents an extensive array of Forex instruments, including the opportunity to trade with currency pairs that involve the Norwegian Krone. This includes pairings such as EURNOK and USDNOK.

Beyond these specific pairings, eToro opens the door to a selection of over 50 Forex instruments. You have the option to strategically place Buy or Sell orders, offering you the flexibility to navigate the currency market.

 

Registration for Norway Residents

The registration procedure for Norwegian residents aligns with that for traders from other countries. Initially, you will be asked to provide a preferred username, email, and password.

It is essential to consent to the financial terms, disclosure statement, and services guide provided by eToro (Europe) Ltd. This is the organization regulated by CySEC and permitted to cater to traders in your region, thereby making it crucial to confirm that this is the actual operator name that is indicated during the registration process.

 

Top eToro Norwegian Traders

Currently, some of the most distinguished Norwegian traders engaged in the eToro Popular Investor program include the following individuals. They maintain a risk score within the 1-4 range, with the most veteran participant having commenced trading as far back as 2013.

Top Norwegian Traders on eToro
TraderUsernamePopular Investor Level
Tore Hakon Kjeldsen@speculatorosloChampion 
Marius Andersen@marwisiCadet
Simon Solbjørg@aliascryptusChampion 
Esteban Choy Pernia@estebanchoyCadet

 

eToro Norway Stats

According to the latest data extracted from eToro's Q4 2022 Investor Update (March 2023), the platform boasted 2.8 million funded accounts. Intriguingly, a significant 71% of these accounts hailed from the UK and Europe, a region which encompasses Norway, as of the close of December 31, 2022.

 

Frequently Asked Questions (FAQ)

Can Norwegians trade on eToro?

Yes, both citizens and residents of Norway can utilize eToro for their trading activities. eToro extends its services to numerous countries, Norway being one of them. Residents can register for an eToro account, add funds, and commence trading an array of assets that include stocks, cryptocurrencies, commodities, forex, among others.

What are the fees on eToro for Norwegians?

Just like for traders from other regions, eToro uniformly applies its fee structure globally, encompassing trading fees, withdrawal fees, conversion fees, and inactivity fees. For instance, a standard flat fee of $5 is levied on every withdrawal, irrespective of the trader's country of origin.

How do I open an eToro account in Norway?

Here's the step-by-step process to create an eToro account if you reside in Norway:

Navigate to eToro's official website at www.etoro.com and click on the "Sign Up" button.

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

Authenticate your email address by clicking on the verification link sent by eToro to your inbox.

Fill out the eToro application form by supplying further details, such as your residential address and birth date.

Submit a copy of your government-issued identification for account verification.

Please keep in mind that eToro might necessitate supplementary documents or information to authenticate your identity or satisfy regulatory requirements. Furthermore, it's crucial to thoroughly read and comprehend their terms and conditions prior to account creation.

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

For Norway residents looking to verify their eToro accounts, these key documents are typically required:

Government-issued ID: This could be a driver's license, national ID, or passport.

Proof of Address: A document with your name and address, such as a utility bill or bank statement.

Payment Method: If you're using a card or e-wallet, you might need to provide relevant screenshots or copies.

In some cases, a selfie might also be requested. The verification process may take a few days, and it's crucial that your documents are clear and consistent with your eToro account information.

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

Being a part of eToro's Norwegian user base allows you to explore a vast landscape of financial instruments. From currencies on the foreign exchange market, commodities, stock shares, and market indices, to the volatile world of cryptocurrencies and diversified exchange-traded funds (ETFs), you have an extensive selection of over 3000 assets at your disposal for investment and trading activities.

Does eToro offer demo accounts in Norway?

Yes, Norwegian traders who successfully establish a live account are also granted access to a complimentary demo account to practice their trading strategies risk-free.

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

For those eager to replicate the trading strategies of prosperous eToro traders based in Norway, the platform's CopyTrader functionality is your go-to feature. Within the settings, adjust the search filter to target only Norwegian participants. Further refine your search by specifying parameters such as trading approach, historical performance, risk level, and other criteria to pinpoint traders that align with your investment style.

What trading platforms does eToro offer in Norway?

Norwegian traders using eToro can access all facets of the platform's trading environment. This encompasses the web-based trading portal, compatible with all standard browsers, as well as the dedicated mobile application. The latter is available for devices running on Android or iOS operating systems, thereby offering a seamless trading experience on the move.

 

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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