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

When you buy or sell Ripple (XRP) on eToro, a 1% fee is charged. This fee is already factored into the price you see on the platform at the time you open or close your position. Essentially, this fee is the cost for acquiring ownership of the XRP asset, so the total amount you pay for the transaction will include this 1% charge.

 

In my quest to understand the fees associated with buying and selling XRP on the platform, I conducted a practical experiment by placing both buy and sell orders for this crypto through my verified account. I meticulously analyzed the charges incurred during these transactions. To ensure the accuracy of my findings, I cross-referenced them with information provided by the eToro support team and their official website.

 

The 1% Transaction Fee

When you buy or sell Ripple (XRP) via their app or website, a fee of 1% is applied to both the opening and closing of your position. Here's a simple breakdown to understand this better:

  1. Opening a Position: When you start a new eToro Ripple trade, it adds a 1% fee to the current market price. For example, if XRP's market price is $1, the trading window will show a price of $1.01 for your purchase. This extra $0.01 is the 1% fee.
  2. Initial "Loss" Display: Right after you open your position, you might notice your trade showing a small loss. This isn't an actual loss in the market value of Ripple but reflects the 1% buying fee you've just paid. So, if you bought XRP worth $100, your position might start at $99, showing a $1 'loss' which is actually the fee.
  3. Closing a Position: When you decide to sell your crypto, another 1% fee is applied. This fee is based on Ripple's market price at the time of selling. So, if its price has changed since you bought it, the 1% selling fee will be calculated on this new price.

In summary, this broker's 1% fee for XRP transactions is straightforward but affects both your buying and selling prices. It's important to factor in this fee when planning your trades.

 

Afterthoughts

The key takeaway from my research is that eToro charges a straightforward fee of 1% for both buying and selling Ripple. This fee is conveniently included in the price shown on the platform at the moment you initiate or close a position.

This means that the total cost of any transaction involving XRP will inherently include this 1% fee. My investigation confirms that this fee structure is transparent and consistently applied across all Ripple transactions on the platform.

 

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 Nick Zelver About Nick Zelver

Nick is the Senior Content Editor at Wikitoro.org with over 15 years in online marketing. A graduate of Toronto Metropolitan University, he has strategized for More Sales Inc. and led online sales at GlassesUSA.com. His journey through digital marketing, e-commerce, and account management has equipped him with a unique perspective. Every article he pens is infused with his real-world experiences, aiming to guide and inform readers.

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