What Are the Fees Associated with Buying and Selling Dogecoin on eToro?

Written by Nick Zelver

Fact checked by Wikitoro Team

Updated Mar, 2024

When trading Dogecoin on eToro, a 1% fee applies to both buy and sell transactions. This fee is incorporated into the displayed price on the platform when you initiate or close your position. Essentially, this 1% is the cost for gaining ownership of the Dogecoin asset, and it is included in the total transaction amount.

In my endeavor to comprehend the fees for trading Dogecoin on eToro, I embarked on a practical exploration. I executed both buy and sell orders for this crypto asset through my verified investment account and meticulously scrutinized the associated charges. To validate my observations, I cross-checked them with the information from their website via the Help section and their customer service department as well.

Understanding the 1% Transaction Fee

eToro imposes a 1% fee on both buying and selling Dogecoin, applicable at the opening and closing of your position. Here's a clearer explanation:

1. Opening a Position: When initiating a DOGE trade, eToro adds a 1% fee to the prevailing market price. For instance, if it's is priced at $1 in the market, the interface will display a buying price of $1.01, incorporating the 1% fee.
2. Initial Position Display: Immediately after opening your trade, you might observe a slight 'loss' in your position. This is not an actual market loss but the 1% fee you paid for the purchase. For example, a $100 Dogecoin purchase might show a starting position of $99, reflecting the $1 fee.
3. Closing a Position: Selling your DOGE incurs another 1% fee, calculated based on the market price at the time of sale. Thus, if the asset's price has fluctuated since your purchase, the 1% selling fee will be based on this updated price.

In essence, this 1% transaction fee for Dogecoin (and other crypto) trades is straightforward but impacts both your purchase and sale prices. It's crucial to consider this fee when planning your eToro Dogecoin  trading strategy.

Concluding Thoughts

The primary insight from my analysis is that eToro's 1% fee is transparent for both buying and selling Dogecoin. This fee is seamlessly integrated into the displayed price on the platform when you open or close a position. Consequently, the total cost of any crypto transaction via the platform inherently includes this 1% fee.

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. 51% 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.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

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