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  • Jay Smith

Adding funds to my eToro account

<IMPORTANT UPDATE>


Hi everyone, today’s update is not about trading, but about your copies, the eToro popular investor program and adding funds to my account. It is important that you take the time to read through this and ask questions. The first comment below this post will be an FAQ where I answer all questions from the comments the best I can.



What’s happening?



eToro is making some long-overdue changes to the popular investor programme. You will see various different changes, but the ones that affect me, and your copy of me are as follows:


1. eToro is introducing a new top tier above Elite called Elite Pro. I will qualify for this tier.

A. Elite Pro requires the popular investor to command AUM of at least $10M.

B. Elite Pro requires the popular investor to maintain a balance of at least $50K in their account.

C. Elite Pro popular investors will be rewarded with 2% of AUM per year (paid monthly) and a bonus 0.5% of AUM per year (paid monthly only on months where they increase AUM by at least 1%).

D. Elite Pro popular investors will no longer receive the fixed $1,000 per month.


2. My current account balance is the only thing holding me back from the new Elite Pro tier. As a result, I will be depositing an additional $20,000 to my account next month, taking my balance from $39,500 (currently) to $59,500.



What do you need to do?


Adding these funds to my account will cause some disruption to your copies, there are two different courses of action you can take to nullify this:


1. Once my funds have been added on the 1st of July, you can add the same percentage (approximately 50%) using copy NEW TRADES. This is the preferred option as it incurs zero cost or disruption.


OR


2. Once my funds have been added on the 1st of July, you can uncopy, then copy again with OPEN TRADES. This will mean paying the spread fee again for all of my trades (approximately 0.5%).

You can also choose to take no action, but THIS IS NOT RECOMMENDED. By taking neither of the above actions you will be missing part of the portfolio once I begin investing the new funds. Over time your copy would re-sync, but only after every position currently open has been closed. This could take up to a year.



When/how will this take place?


I’ve decided to take a few steps to try and minimize the impact on you all:



1. I will add the funds in a lump sum on the 1st of July. This means we only go through this process once.

2. I will provide reminders weekly until the funds have been invested fully.

3. I will begin investing the new funds from July 13th onwards. This allows you 12 days to take one of the two actions mentioned above.

4. I will do my best to answer all of your questions in the top comment post below.

5. If you are concerned and do not wish to discuss it publicly, I’m available on Discord or Email to answer questions in private. Please only do this if you can’t find the answers in the comments below.



What about people looking to copy me now?


The answer is simple:


1. Copy with 66.6% of what you intend to copy with, then add the 2nd 33.3% once I have added funds to my account on the 1st of July.

2. Alternatively, you can copy with 100% but would then need to uncopy/copy again.


I believe the first of these two options is best, but both have their merits.



Thanks for reading, I’m sure there will be a huge number of questions, please allow me time to respond.




Links:


Email me through my website (bottom of the page): https://jaynemesis.com/

Join the Discord to message me (or hang out with the community of copiers): https://discord.gg/YDxeqea

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