eToro is a global social trading and investment platform used by millions of investors in the UK. The platform allows you to trade shares, ETFs, currencies, and other assets, and also offers copy trading features. UK-based eToro users who hold investments outside of an ISA wrapper may need to report capital gains to HMRC. FiscalFox reads your eToro account statement and applies HMRC's share matching rules to produce accurate, HMRC-compliant capital gains tax reports.
How to download your eToro account statement
eToro provides your transaction data through an account statement that can be downloaded as an Excel file. Follow these steps:
- Log in to your eToro account at etoro.com.
- Click on your Portfolio from the left-hand navigation menu.
- Click the Settings icon (gear/cog) in the top-right area of the portfolio view.
- Select Account Statement from the dropdown menu.
- Choose the time period for the statement. Select a range that covers all the tax years you need to report. For example, if you started investing in 2022 and need to file for 2024/25, select from your earliest trade through to 5 April 2025.
- Click Generate to create the statement.
- Once generated, click Download XLS to save the Excel file to your computer.
USD-denominated transactions
eToro uses USD as the base currency for many assets. The profit/loss figures shown in eToro's interface may differ from the GBP figures calculated by FiscalFox. The FiscalFox figures are the correct ones for UK tax purposes, as HMRC requires all amounts in sterling.
With your XLS file ready, go to your FiscalFox dashboard, select eToro as your broker, and upload the file to begin your CGT calculation.
File format details
eToro exports your account statement as an Excel XLS file. This file contains multiple sheets, including:
- Account Summary -- an overview of your account activity for the period
- Closed Positions -- details of all positions that were opened and closed during the period, including the asset name, open and close dates, units, open and close prices, profit/loss, and fees
- Transactions Report -- a detailed log of all account transactions including deposits, withdrawals, trades, dividends, and fees
- Dividends -- a dedicated sheet listing all dividend payments received
- Financial Summary -- a high-level summary of realised profit/loss
FiscalFox primarily uses the Closed Positions and Transactions Report sheets to extract the data needed for CGT calculations. All processing happens in your browser -- your eToro data is never uploaded to our servers.
How FiscalFox processes your eToro data
Processing eToro data involves additional steps compared to some UK-only brokers, because many eToro assets are denominated in USD or other currencies. Here is how FiscalFox handles it:
- Currency conversion -- eToro frequently records trades in USD. FiscalFox converts all amounts to GBP using the exchange rates available in the statement or, where needed, using the rate on the date of the transaction. HMRC requires all gains and losses to be reported in sterling.
- Same-day rule -- shares of the same asset bought and sold on the same day are matched first.
- 30-day bed and breakfast rule -- disposals matched against repurchases of the same asset within the following 30 days.
- Section 104 pool -- remaining disposals matched against the pooled average cost, maintained per asset and updated with each transaction.
The final report includes a disposal-by-disposal computation showing the GBP proceeds, GBP cost basis, the matching rule applied, and the resulting gain or loss. A summary provides the totals you need for HMRC Self Assessment, including total gains, total losses, and the net chargeable gain.
Common issues with eToro files
USD-denominated transactions
eToro uses USD as the base currency for many assets, even for UK users. This means that the profit/loss figures shown in eToro's own interface may differ from the GBP figures calculated by FiscalFox. The FiscalFox figures are the correct ones for UK tax purposes, as HMRC requires all amounts to be converted to sterling. FiscalFox handles this conversion automatically using the transaction-date exchange rates.
Copy trading positions
If you use eToro's copy trading feature, the positions opened and closed by the copied trader appear in your account statement as individual trades. FiscalFox processes each of these as a separate transaction, which is correct for CGT purposes -- each disposal is a taxable event regardless of whether you placed the trade manually or through copy trading. Be aware that frequent copy trading activity can result in a large number of disposals.
CFD vs real shares
eToro offers both real share ownership and CFDs (contracts for difference) depending on the asset and the trade parameters. CFD profits and losses are still subject to capital gains tax, but they are treated differently in some respects. FiscalFox identifies both types of positions in the eToro export and processes them appropriately. If you only want to calculate gains on real shares, you can review the output and filter accordingly.
Supported transaction types
FiscalFox extracts and processes the following transaction types from your eToro account statement:
| Transaction Type | How FiscalFox Uses It |
|---|---|
| Open Position (Buy) | Added to the Section 104 pool for the relevant asset, converted to GBP |
| Close Position (Sell) | Matched against acquisitions using HMRC share matching rules |
| Dividend | Recorded for reference (taxed under income tax, not CGT) |
| Fees (Overnight/Weekend) | Included as allowable costs where applicable to the position |
| Copy Trading trades | Processed as individual buy/sell transactions |
eToro's account statement format contains a wealth of data, and FiscalFox extracts exactly what is needed for HMRC-compliant capital gains reporting. If you encounter any issues with your eToro export or have questions about how specific transactions are treated, contact our support team for assistance.