As of August 1, 2022, eToro will begin charging overnight fees on all non-leveraged BUY crypto CFD positions at a rate of 20% a year. Overnight fees also apply to Copy positions.

The broker says that the overnight fees on CFD positions reflect the forces of supply and demand driving the financial markets, including to cover costs associated with your position. Previously, eToro had made an exception for non-leveraged BUY CFD positions on cryptoassets and overnight fees were not charged.

eToro also announces that “real” crypto is now available in France and French territories.

Since eToro now offers you the ability to invest in “real” cryptoassets, the broker is offering you the opportunity to close your non-leveraged BUY crypto CFD positions and reopen equivalent “real” crypto positions (meaning that you have ownership of the underlying cryptoasset) before this goes into effect.

This way, your new crypto positions will not be subject to overnight fees. eToro will credit you for any spread costs incurred, providing the crypto CFD positions are closed and reopened as “real” crypto within a specific amount of time.

How to convert your crypto CFD positions?

To convert your existing non-leveraged BUY crypto CFD position and open an equivalent “real” crypto position, you need to close and then immediately reopen the investments:

1. Go to your eToro portfolio. Any non-leveraged BUY CFD positions you hold will be marked ‘CFD’ in your portfolio.
2. Make a note of the value of the position in units. You will need this information in order to reopen the position.
3. Click Close Trade to manually close the position.
4. Immediately open a new position with the same value in units of the closed position.

Opening the position by units rather than by dollar amount ensures an identical value to the closed position.