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The most popular broker in the world is eToro. Founded in 2007, offering Australian investors the opportunity to access a wide range of markets from a single account.

One thing that makes eToro stand out from its competitors is its focus on social trading; they have a social media platform that allows users to connect with other traders and copy popular traders automatically. This makes eToro a great place for beginners to learn about investing and trading.

We discuss the important features of eToro Australia review, such as its web-based platform, user experience, and key metrics in this review. We analyzed the entire platform. eToro broker review, eToro wallet review, and eToro copy trading review.

What is eToro Australia?

etoro revieweToro is a popular broker that was founded in 2007. The platform calls itself the “world’s leading social trading network.”

It allows users to trade stocks, cryptocurrencies, currencies, stock index, commodities, and more and has over 20 million traders and investors.

A key feature of this platform is its focus on social trading. There is so much information on eToro copy trading that one could write an entire review. Here traders who are not too experienced are allowed to interact with other users, comment, post, reply to comments, and at the same time automatically copy the most popular traders, making eToro the perfect place for beginners to learn. Plus, it’s a completely commission-free broker. There are so many features to eToro copy trading that one could write an entire eToro copy trading review on their own.

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

There are so many features in eToro copy trading that you could write a complete eToro copy trading review on your own.

As already mentioned in our Australia review, this platform allows you to copy an experienced trader. This process is done through its Copy Trading tool, where you can similarly copy your portfolio and positions.

Another differential aspect of eToro is that the platform is very easy and simple to use. In addition, this platform is fully regulated, so your capital will always be safe on the platform.

eToro Broker Australia Pros & Cons

In this eToro review, we’re going to take a look at some of the key pros and cons we found.

What we like

  • Stock trading with 0% commission
  • Access to stocks in the U.S. & 15 other countries
  • Easy-to-use interface
  • iOS and Android app
  • Free demo account
  • Trade 49 currency pairs
  • Access to 30 different cryptocurrencies
  • Crypto staking – Get interested in your coins
  • Leverage up to x30 for margin trading
  • CopyPortfolio – buy top-rated, ready-to-use portfolios
  • Social media platform for networking with other traders
  • Deposits by bank transfer, PayPal, credit card, and debit card
  • Regulated, safe and secure broker

What we don’t like

  • Conversion fee from Australian dollars to US dollars
  • Complex fee network
  • Limited capacity of cryptocurrencies

What Can You Invest in and Trade on eToro Australia?

We discussed the markets and asset classes eToro supports in part one of our in-depth eToro reviews supports.

Choosing the right leveraged CFD strategy depends on which asset you are trying to trade (stocks, ETFs, cryptocurrencies) and which asset class you are looking for (forex, commodities, indices).

Invest in Forex

etoro australia review

In this part, we have made a forex review. Forex is definitely eToro’s forte since its launch back in 2006; when currency pairs were the first assets traders could access. It is still the main part of their offer with many great capabilities.

The best thing about eToro is that you can trade 49 different currency pairs at any time, not just the 8 major currency pairs.

As far as forex trading is concerned, spread refers to the difference between the price of buying and selling a currency pair. The broker makes money from this difference.

In addition, according to our research for this eToro broker review, the spread on eToro currency pairs varies by the specific currency in question. For example, the spread on EUR/USD is one pip, while the spread on more exotic options like USD/ZAR is 50 pips, with everything else falling somewhere in between.

eToro follows the standards established by the Australian Securities and Investments Commission (ASIC) and the European Securities and Markets Authority (ESMA) regarding forex leverage. Therefore, the major currency pairs, such as EUR/USD, are available with a maximum leverage of x30. In contrast, exotic currency pairs, such as EUR/NZD, are available with a maximum leverage of x20.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Trade Stocks

According to our eToro review Australia, eToro offers the opportunity to trade stocks on 15 international markets, including the NYSE, NASDAQ, and others.

Users can use their credit cards to buy the asset of their choice. Users who trade stocks instead of using CFDs do not imply that they have a real asset as it is an underlying asset.

Thus, even though the shares are purchased without leverage, users can hold them without additional charges.

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During our research for our eToro app review, we discovered that eToro offers leveraged and unleveraged trading strategies, as well as different stock-related trading strategies for beginner users. In addition to offering leveraged and unleveraged stock trading at eToro, users can also choose between different trading strategies. As a result, they can alternate between buying stocks for the long term and buying them for the short term, thus taking advantage of their leverage to increase their daily income.

From our eToro broker review, we found the following markets:

  • Frankfurt
  • London
  • Paris
  • Madrid
  • Milan
  • Hong Kong

Invest in Indices

When talking about assets such as these, a standard account allows maximum leverage of 1. There is only one CFD option for indices, allowing users to trade long or short of placing their money in either direction, but they must pay overnight commissions if their trades are held during the night.

review on etoro

This platform offers a wide selection of educational materials and analyses for index trading as part of its service. In addition, the platform provides information on how prices move, current volatility, index demographics, and what to look out for when trading indices. While the content of this site is important, please remember that it can be construed as a recommendation. Therefore, it should only be considered as such.

It is also quite common to come across copy traders trading indices and other assets on eToro. This is because indices tend to stay around for a long time but may be traded for a shorter period of time, depending on the news and the market in general.

Trade Commodities CFDs

Recognize that you are not directly acquiring assets and securities, so you are not claiming ownership.

If we want a definition of what CFDs are, they are Contracts for Difference, which means you only make predictions about the price movement.

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The eToro platform offers 32 different commodities that can be traded, so investors looking to diversify their portfolios have a wide variety of options.

eToro offers a wide range of commodities, which can be divided into three categories:

  1. In terms of precious metals, many instruments can be found, such as gold, silver, and platinum, to name but a few.
  2. There are energies where oil and natural gas stand out.
  3. Agricultural products, such as sugar, corn, and wheat, are best known.

Please note that the minimum trade size for buying and selling CFDs on commodities is $50.

Commodities traded on eToro are essentially CFDs that can be leveraged at 1:4, 1:5, and 10:1. As we reviewed eToro’s copy portfolio, we discovered that some copy traders invest a portion of their portfolios in commodities in which users can. However, there is still a big risk if you use a copy trader without checking if the copy traders are reputable.

All CFD trades made at eToro are labeled as CFDs as part of their line of business. Therefore, you can trade currencies, indices, and commodities in CFD form.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Trade Cryptocurrencies

Although eToro is not a specialized cryptocurrency broker, it manages to offer 30 of the most popular coins in the world, which is very appealing to cryptocurrency investors. The main coins offered are BTC, ETH, XRP, ADA, and DOGE. What sets eToro apart from cryptocurrency exchanges is that not only can you buy the actual currency, but if you wish, you could also trade cryptocurrency CFDs.

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Although eToro is not a specialized cryptocurrency broker, it still offers 30 of the most popular coins globally. So naturally, cryptocurrency investors find this attractive.

Several brokers, including the most well-known ones, have recognized the popularity of cryptocurrencies, as their significance has increased accordingly. The digital currency has been introduced by eToro as one of the first companies to follow the latest trends. As a result, it supports 42 cryptocurrencies, including Bitcoin, which is considered the most positioned cryptocurrency.

Furthermore, we have reviewed the eToro wallet and we found out that allows you to store your cryptocurrencies, along with eToro’s cryptocurrency trading.

Similarly, the eToro wallet is one of the most secure cryptocurrency wallets available, as it offers several high-level security features, including multi-signature functionality, data protection, verification, and a standardization protocol, which will prevent unauthorized attacks on your network.

Cryptocurrency traders do not have the option to trade CFDs when trading cryptocurrencies, so all digital currencies currently available for purchase are long-term trades, with no options to transact short term.

Despite this, thousands, if not hundreds, of copy traders are incorporating cryptocurrency trading into their portfolios. Moreover, since some traders only trade cryptocurrencies, there are many ways for copy traders to trade cryptocurrencies.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Australia Fees & Commissions

Opening and operating an eToro account is completely free of charge, and Australian users are not charged any commission for buying and selling US stocks.

However, you will have to pay currency conversion fees in addition to a $5 fee for each time you withdraw funds from your eToro account.

If you leave your account untraded for 12 months, you will be charged a $10 inactivity fee for each month of inactivity after that.

Having explained how to set up an eToro account, we can now talk about what you should keep in mind when choosing the best application for your investment. You should pay close attention to the platform’s fees and commissions in order to get the best possible return on your investment.

In order to trade more efficiently, you should pay attention to each of the aspects related to trading with the broker.

Below are the precise eToro fees and commissions you should know before you start using the platform. In addition, we will have a quick look as well at eToro’s non-trading fees. This review of eToro fees review will be useful to help you avoid any unnecessary hassles.

Trading Fee Charge
CFD trading 0% Commission; Overnight on leverage is not included in the spread
Forex trading 0% Commission; From 1 pip spreads; Overnight on leverage is not included in the spread
Crypto CFD leverage None
Share CFD leverage Up to 5:1
Indices CFD leverage Up to 20:1
Commodities CFD leverage Up to 10:1
Forex CFD leverage Up to 30:1
Non-trading fees Charge
Overnight Fee The overnight fee charge of CFD traded stocks, indices, commodities, and forex is based on the total value of the position and amount of leverage used.
Deposit Fee 0%
Withdrawal Fee $5
Inactivity Fee None
Account Fee $10 per month after 1 year of inactivity

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Australia User Experience

With a very attractive design that facilitates trading even for novice traders, eToro stands out as a broker that facilitates trading for experienced users as well as for beginners.

The platform can be described as very simple, which has made it well received by users compared to other online trading platforms that contain too many tools, specialized information, and complicated functions.

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As mentioned above, eToro is an online trading platform that presents users with a simplified and user-friendly home page. In addition, the website highlights the different investment opportunities in all markets worldwide.

Additionally, eToro’s search function provides all relevant information about an asset as well as illustrations of the accounts of other users who may be interested in trading that asset. The platform will enable users to search for more than just assets, locate a suitable copy portfolio holder or copy trader, and exchange ideas with other users.

As for the security issue of the platform, you don’t have to worry about it, as eToro offers two-factor authentication and multi-factor authentication. This way, you will be safe from any attacks on your account.

eToro Australia Features, Charting, and Analysis

When talking about features, the most striking feature of this platform is its copy trading option. As mentioned at the beginning of this eToro review Australia, this option allows traders to copy other traders’ portfolios who have more experience. Therefore, this option is very appealing to users who do not have much previous experience in cryptocurrencies.

Thanks to this tool, anyone can learn to read the market to become an expert in the future.

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

On the subject of graphics, this platform contains many technical indicators and provides a lot of tools for the development of the same. They can be presented in a simple way. However, it is worth mentioning that there is also the possibility to change the style of the charts.

Finally, it is possible to visualize the stock’s performance.

On the subject of basic research, the platform offers a manual.

A manual and a large database are some of eToro’s basic research offerings. It is possible to view key metrics relating to the market’s mood, such as analyst recommendations.

These recommendations express their opinions on whether that stock should be viewed as a buy, sell or hold. In addition, hedge fund forecasts and price targets can be viewed.

eToro Australia Account Types

Users can choose from several types of accounts designed for any need. Once registered, they will be able to choose between the options.

This review will explain the options to make the best decision.

We also recommend that you first create a demo account to familiarize yourself with the platform and feel more comfortable before trading live.

In this review, we are going to talk about two accounts. These two types of accounts are particularly reserved for specific niches.

The first account is the so-called Islamic account; this account is purely for Muslim traders who want to trade without swapping on the various trading tools. On the other hand, companies also can create a corporate account.

Features Standard Account Islamic Account Professional Account
Leverage 30:1 maximum leverage 30:1 maximum leverage 400:1 maximum leverage
Minimum deposit $10 $1,000 Portfolio exceeding $500,000
Dedicated account manager Yes Yes Yes
Exclusive webinars Yes No Yes

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Australia Mobile App Review

As more individuals have become interested in investing in cryptocurrencies, the platforms see it possible to develop applications on different mobile operating systems. In this case, eToro is available on iOS and Android. Moreover, you can switch according to your needs by connecting your account—a fully-featured application.

Likewise, the application is easy and simple to use. It has been designed especially for mobile devices. It also contains the same features available on the website. This indicates that you can buy, sell and trade no matter where you are. Additionally, it has a very dynamic design with a great interface.

As far as depositing and withdrawing funds is concerned, you will be able to do it easily without any obstacles.

etoro app review

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

The latest news, prices, and trends are the particularities present in the application. Notifications are also enabled, for example, if your positions reach their corresponding stop loss or take profit limits.

Right now, you may be weighing and analyzing the available payment methods. If that is the case, you can continue exploring our review where the next topic is withdrawing money on the platform.

eToro Australia Deposit and Withdrawal Methods

The minimum deposit usually varies depending on your location. For the majority of users, it is $200, but US and UK citizens are required to deposit $10 when opening a regular eToro account. Nevertheless, it would be beneficial to consider that the following deposits also require a minimum of $50.Regarding payment processing, credit cards and e-wallets are the suggested methods for this purpose.

This broker offers you the following payment facilities: Visa, Visa Electron, MasterCard, Maestro, PayPal, Skrill, Neteller, Local Bank Transfer (in some countries), and International Bank Transfer.

You may withdraw your funds by using the exact payment method you deposited when you made your deposit. As for withdrawal fees, you should remember that the fee is $5 for each withdrawal. You can only be exempt from these fees if you have a platinum account or higher, and if you don’t, you should consider it. However, as part of their customer rewards strategy, eToro will upgrade you to earn higher profits over time.

eToro Australia Contact and Customer Service

Any concerns, issues, or questions you have with eToro can be addressed by its customer support staff at any time. As soon as you log in to your account, you can contact an agent via the live chat button.

The premium service plan allows customers to schedule calls in advance to contact customer service agents. Additionally, eToro can also be accessed through social media platforms such as Twitter and Facebook.

Is eToro Australia Broker Safe?

Since 2007, eToro has been active in many countries around the planet. In Australia, eToro is controlled by ASIC (Australian Securities and Investments Commission) and by numerous foreign regulators. Personal details are safeguarded by SSL encryption, and you can even enable 2FA (two-factor authentication) on your account to prevent unauthorized logins. If you need help, you can contact them via email or use the live chat feature.

How to Start Trading with eToro Australia

 Step 1: Open a Trading Account

To register, click the ‘Join Now’ option on the homepage. You will need to click this button to register. Your username and password will be requested after filling out the account registration form. You can also sign up using your Facebook or Google account if you prefer.

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Verify Your Identity

During the registration process, you will be required to present a valid government-issued photo ID as proof of your identity. This will enable us to verify your identity and facilitate the registration process. In addition, you can use a passport, a driver’s license, or proof of residency to log in to eToro.

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Step 3: Deposit Funds

You can start trading with eToro as low as $10 before making a deposit. Various payment methods are available, including credit cards, debit cards, bank transfers, and PayPal. Despite this, there is a wide selection of options available to you to select the most convenient method for you.

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Step 4: Start Trading with eToro Australia

You are almost ready to begin trading at this point in the eToro review Australia. The process is as simple as typing the asset you wish to trade into the search bar at the top of the page. You can then select the amount and leverage you wish to trade by clicking on the Trade button in the upper left corner. It is unnecessary to manually enter the stop loss and take profit levels since both are automatically calculated. When you finalize the parameters of your first trade and click on Open Trade, you have executed your first trade.

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Australia Review – Conclusion

eToro offers commission-free trading in U.S. stocks, but it has several other features that make it stand out from its competitors. While the company calls itself “the world’s leading social trading platform,” it also offers practical ways to trade U.S. stocks, fractional shares, CFDs, cryptocurrencies, and more from a single account.

Despite their foreign exchange margin and USD 5 withdrawal fee, investing and trading professionals who want to build up their U.S. portfolio or do short-term trading and reinvesting won’t be bothered by them. You can also practice with a demo account before making your first trade if you are a beginner.

eToro – Overall Best Forex Broker in Australia

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

What is eToro Australia?

Online trading platform and broker eToro was launched in 2013. No commission is charged for buying, selling, and trading thousands of assets. Traders can copy other traders as they are regulated.

What is Forex trading?

The foreign exchange market consists of converting one currency into another. Foreign exchange trading is often referred to as forex trading. Across the world's largest market, the Forex market, businesses, investors, and major banks make more than $6 trillion worth of daily transactions.

What is cryptocurrencies trading?

Blockchain technology enables bitcoin and other cryptocurrencies to transfer funds and store value. Trading cryptocurrency involves the purchase and sale of virtual currencies in real-time.

Can I trade with leverage in eToro Australia broker?

You can trade with leverage at eToro Australia. However, you will need to determine the level of leverage you will use before you conduct a leveraged trade.

Can I open an account with eToro in Australia?

Yes, that is possible. The eToro Australia website can be accessed by clicking the Sign up button.

About Carlos Sereno
About Carlos Sereno

Journalist from Universidad Jorge Tadeo Lozano. Translator of Spanish and English. English as a second language. Interested in International media and sports media.

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