eToro has raised it’s minimum first deposit amount to $500.
The move comes after a surge in demand on the platform due to the popularity of cryptocurrency trading. The CEO penned a blog post to customers in December:
I’m happy to say that a growing number of people are choosing eToro as their preferred platform to trade and invest in cryptocurrencies. However, this growth has created some challenges for us, both from the technical and customer service ends
It remains to be seen if this move will have an impact on the worlds most popular social trading platform. eToro did temporarily increase this amount to $1000 but backed down days later.
The move to a $500 minimum only applies to first time deposits and customers will still be able to deposit smaller amounts.