Purchasing gifts for your friends and family can sometimes feel like a real chore. You have to head to the store, select something you think they would like, and then hand over the cash. Wouldn’t it be easier if you could give them the gift of investing with an eToro gift card?
Unfortunately, eToro does not allow you to purchase gift cards at this time. You may earn one by signing up for a mobile account or linking your Facebook depending on their current promotions. You also cannot fund your eToro account with a gift card or prepaid card.
If you are ready to dive a bit deeper, here is everything you need to know about getting an eToro gift card.
eToro Gift Card: Does it Exist?
Many people are tired of giving the same boring gifts on holidays. They want to do something for their friends and family that can be a bit more meaningful. Investing in the stock market can help yield dividends for the future if they are savvy consumers and investors.
It makes sense to want to give an eToro gift card to help loved ones start their own investment journeys.
The question is, can you purchase an eToro gift card?
In short, the answer is no. eToro does not offer gift cards available for the public to purchase.
Instead, you should consider giving cash to your loved ones with the prerequisite that they should use it for investment purposes. Giving them cash allows them to deposit the funds into their bank account and transfer it to their eToro account.
From here, they can purchase whatever investment best suits their needs.
If giving cash doesn’t suit you, you can always give them a gift card to another investment site such as Stockpile. They are a direct competitor of eToro that features no trading fees and the ability to give gift cards to your loved ones.
Does Robinhood offer gift cards? Check out our complete guide on this topic!
Free Gift Card for Mobile
While eToro gift cards are not available for purchase, they do sometimes reward loyal customers with a free gift to get them started. While they may not be sizeable gift cards, a little bit of free money is better than nothing!
For example, existing users can redeem a free gift card through the eToro OpenBook mobile site. This will allow you to redeem a free $20 gift card to make your very first financial investment. All you need to do is connect your Facebook account to score this free gift card.
At other times, they have offered similar incentives. For example, they offered a $50 stock gift card in honor of the World Cup for new members who connected with them via Facebook.
If you don’t already have an eToro account, be sure to look around for a similar incentive before signing up. This can give you a small edge when it comes to funding your new stock purchases on this popular trading platform.
Can I Use a Gift Card on eToro?
Some people have already received gift cards such as a Visa prepaid card or an App Store gift card. You may be curious whether these cards can be used to fund your eToro account to help you make a wise investment for the future.
Unfortunately, eToro does not accept gift cards or prepaid cards as a payment option.
The only types of payments they accept are United States-issued Visa, Maestro, or Mastercard debit or credit cards that are registered to the eToro account holder. Only debit cards that can receive funds are eligible for use on eToro. There is also a minimum of $50 for your first deposit if you live in the United States.
eToro also accepts deposits via a bank transfer or wire. Wire transfers have a minimum amount of $500 for the platform.
If you have a prepaid card or gift card you would like to spend on investments, consider swapping your budget around. Use this card to purchase your groceries or gas. This should free up the cash in your bank account to be used for investing on eToro.
Another alternative is to sell the gift card for cash. You can look at doing so through Facebook Marketplace, by reaching out to interested friends, or by listing it for sale on popular sites such as Raise. You may earn slightly less than the card is worth if you try to sell it for cash.
Investing as a Gift
While it may be nice to give someone the gift of investing, it is not yet possible to do so on eToro. You may find an eToro gift card as an incentive to sign up or link your Facebook account to your trading profile. However, they are not yet available for purchase by the general public. Hopefully, they will one day see the market for this unique gift idea!