eToro Australia Review: All You Need To Know




Founded in 2007, eToro is known to be the fastest-growing social trading platform for Australian investors. Traders prefer the platform as it provides incredible crypto deals and commission-free stock trading. 

Thanks to its easy-to-use trading options, users can easily copy the strategies of experienced investors. Moreover, traders get exclusive benefits when they share their trading strategies on the platform. 

eToro is considered one of the best trading platforms as it offers 3000+ tradable symbols. If you’re looking to start your investment journey with the platform, check this etoro Australia review. We have covered all the main points regarding eToro that will assist you in getting off on the right foot. 


Pros And Cons Of eToro


  • eToro offers seamless account opening; therefore, it is suitable for beginner users.
  • The platform is straightforward to use as it comes with eToro mobile app and a user-friendly web application.
  • It is a low-risk trading platform regulated in two tier-1 jurisdictions and one tier-2 jurisdiction.
  • It is transparent about fees and accepts deposits and withdrawals in AUD.



  • The pricing structure of the eToro platform is slightly higher than its rivals.
  • You have access to limited tools and traditional research materials.
  • It does not support automated trading strategies.


etoroeToro At A Glance

Official eToro Website
Company Headquarters  Central Israel 
Founding Year  2007
Supported Countries  140
Listed cryptocurrency Bitcoin, Bitcoin Cash, Ethereum, and many more
Supported Fiat Currencies 44
Trading Pairs 5+
Native Token N/A
Smartphone Application  Available 
Minimum Deposit  $10$200 for those who wish to use eToro CopyTrader
Transaction Fees Crypto - 1%ETFs and Stocks - None 
Deposit Fees $50
Withdrawal Fees $5
Customer Service System  Chat, phone, email, and ticket support are available only for club members. 

eToro Company: Overview 

eToro is one of the leading social trading platforms which provides multiple trading options and tools. The added advantage of the platform is that it offers thousands of trading options for investors and traders. 

It provides access to 2000+ financial assets such as commodities, currencies, ETFs, cryptocurrencies, stocks, and more. 

Since its inception in 2007, the company has strived hard to help people with easy and intriguing trading. Presently, the company serves traders and investors in Australia with its cutting-edge investment tools. 

Cryptocurrencies Supported In eToro 

You can buy, sell or convert around 50 of the most popular cryptocurrencies on the trading platform. eToro supports fewer cryptocurrencies than its competitors. However, there are many popular cryptocurrencies backed by it that you won’t find on other exchanges. 

Below we have listed the top cryptocurrencies you can trade on  eToro AU

  • Bitcoin (BTC)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Binance Coin (BNB)
  • XRP
  • Cardano (ADA

Besides, there are five popular cryptocurrency trading pairs available on the platform in Australia, including

S.No Trading Pairs

Trading crypto pairs on the platform are becoming more and more popular as it allows the users to enjoy maximum profit from the ever-evolving value of the trading currencies. Besides crypto, you can trade stocks and ETFs on the exchange. The user-friendly platform allows Australian traders to trade and generate maximum profits with low etoro fees Australia

Key Features Of eToro 


One of the essential features of the platform is CopyTrader which enables the newbies to replicate the trading strategies of pros. All you need to do is select the amount you wish to trade, and that’s it. The platform will mirror your chosen traders’ trading pattern and allocate the funds. The added advantage is you don’t have to pay a single penny for management. Users have a chance to copy hundreds of trading experts at a single time. This, in turn, helps the newbie users to learn from experts and trade well. 

eToro Wallet Available 

Users have a chance to open an eToro wallet along with an eToro trading account. It is the popular wallet storage service of the platform that is free to use. Even though it’s free to use the eToro Wallet service, some activities require payment. Whenever a user transfers money from their account to their wallet, the platform charges 0.5% of fees. However, you would not be allowed to send the money from your wallet to the exchange. 

eToro Virtual Portfolio 

Beginners can use the virtual portfolio feature available at the site. This excellent feature of eToro enables you to buy crypto worth $100,000. Even though it won’t offer you real profit or loss, it will help you to get a sense of crypto trading. Furthermore, even if you’re a beginner, it will help you enjoy the platform’s novel features. 


Secure Mobile App

One thing that differentiates eToro from the competition is its secured mobile app. You can quickly check out the customer service sections, the current trade prices, the news section, and much more from their mobile phone. iOS and Android users can install it to have a pleasurable trading experience. Using the mobile app enables you to access the financial markets as well. The interactive user interface and extra security make it a more reliable option. 

Easy Interaction With Other Traders 

If you’re a trader looking to invest their money in different asset classes while interacting with other traders, eToro is your one-stop solution. This is because the platform lists cryptocurrencies, stocks, and ETFs in one place. The eToro community is a great interaction point where users can connect with each other and share their strategies. 

Additional Features Of The Platform 

  1. Low Minimum Funding Required – If you transfer money from a bank account or use a debit card to deposit money, you can pay only $10 initially. Due to the low funding required, many people prefer the platform. You can submit a small deposit and get ready to add assets and trade. 
  2. High Protection Of Crypto Assets – The funds stored on the platform are protected and insured. The company uses hot and cold storage to protect all crypto assets. Investors can rest easy knowing that they are using a platform with high-level security features in addition to standardization protocols. 

Trading Experience 

Sometimes, deciding on the right financial instrument to earn a profit on other platforms is overwhelming. This is where eToro social trading comes into the picture. Amongst all the other features of eToro AU, the platform is widely known for its social trading. Instead of getting overwhelmed by the choices, you can follow the industry experts and copy their strategies. 

Users can even check out the 1-year portfolio of the trading experts along with their holdings, News Feed, and a brief personal bio. The News Feed of the experts will help you get deep insight into their trading strategies. 

Another excellent feature of eToro is their portfolio management service known as “CopyPortfolio.” Although the service functions like a mutual fund, they are different. The best part about the service is you can pick various investment approaches per your needs. 

Users looking to leverage the benefits of CopyPortfolio have to pay nearly $1,000. However, the platform charges no management cost for portfolio management. eToro only earns when the managing portfolio users make a transaction.  Its transparent pricing structure makes the exchange maintain trust and credibility among the investors. 

Fee Structure

According to a report by Similarweb, eToro gets around 20+ million visitors monthly. This, in turn, makes eToro one of the biggest CFD trading companies worldwide. However, analyzing every cost associated with it is crucial if you’re planning to trade on the platform. There are no deposit etoro fees in Australia, however, users are charged currency conversion fees when AUD is converted to USD. 

eToro Currency Conversion Fees 

As the trading platform operates only in dollars; the Aussie users have to pay an extra currency conversion fee when they deposit AUD in their eToro account. eToro calculates the amount to be charged in pips which depends on the cash you deposit. In addition, the charged pips rely on the mode of deposit too. You have to pay much less if you choose online banking or wire transfer. 

Currency Conversion  Deposit Fees  Withdrawal Fees 
Bank transfer  50 pips 50 pips
Credit card  100 pips 100 pips
Neteller 100 pips  100 pips
Skrill 100 pips 100 pips 
eToro Money  Free 50 pips

eToro Spread Fees

The platform charges spread fees whenever you buy something on eToro, be it stocks, assets, or other financial instruments. The cost entirely depends on what you wish to trade on the platform. Assets like stocks are charged in percentages, whereas currencies and commodities are in pips. 

eToro Overnight Fees

Like other trading platforms, eToro also charges overnight fees. However, the fees charged will entirely depend on what you trade. For instance, if a user trades stocks and leverages them, eToro will charge a small fee. On the other hand, if the user doesn’t leverage the stocks, he doesn’t have to pay a penny. 

eToro Inactivity Fees

The platform starts charging an inactivity fee when users don’t log in to their eToro account for 12 straight months. Each month the company will deduct $10 unless you log in or run out of balance. 

In a nutshell, the buying and selling fees of different assets on the platform include:

Assets  Spread Fee Buy Fee Sell Fee
Stock  It depends on the stock  None  None
Crypto  Depending on the cryptocurrencies  1% 1%
Forex  Depending on the forex pair, however, start from 1 pip None None
ETFs Depend entirely on the ETF None  None 
Indices  Depending on the index, however, start from point 1 None None
Commodities  Based on the commodity and starts from 2 pips None None 

eToro Withdrawal Fees

Every user must pay $5 as withdrawal fees each time they withdraw. The withdrawal charge does not depend on the amount you are withdrawing. Hence, it’s better to withdraw a lump sum of money once rather than at regular intervals. This fee is a little controversial as rivals of eToro do not charge it. The minimum amount that users can withdraw from their eToro account is $30. 

How Secure Is eToro? 

Besides Australia, eToro is available in hundreds of countries, such as the Middle East, the US, Canada, the UK, Europe, etc. However, this doesn’t mean that that platform is safe for the users. That is why it is better to dive deep into the security of eToro before choosing it as your trading partner. 

The platform in Australia is well-known and regulated by the Australian Securities and Investments Commission (ASIC). Furthermore, the company is a well-recognized Financial Industry Regulatory Authority (FINRA) member. 

This means that the cash deposits of the participants are secured and insured by FDIC. The eToro review Australia proves that the investments are also insured and protected by the top-tier authority SIPC. There has been no significant indication of loss of client’s funds or security breach in the past. 

The best part about eToro is the multiple insurance and compensation schemes. The Transport Layer Security (TLS) protocol protects the data transferred between you and eToro. Internal firewalls add extra protection as it does not allow the employees to share money. 

You can also enable the 2-factor authentication from the account settings. If you want to report any issues related to the security of eToro, you can use the Vulnerability Disclosure Program on HackerOne. This adds another security layer to your eToro account and protects your money from unauthorized access. 

Opening an Account on eToro

Thanks to the user-friendliness of eToro, many users are planning to get started with it. If you want to enjoy the platform’s intuitive website and UX design, follow the steps below. 

Step 1 – Visit the official website of eToro and proceed to the main page. There you will find a green box indicating “Join Now.” Click on it. 

Step 2 – Next step is to fill in the eToro username, submit the valid email address, and create a password. Be sure to accept the Terms & Conditions and tick the box. In addition, pay due diligence to the Privacy and Cookies policies too. This is because reading these documents can help you understand your rights better. 

Step 3 – Now it’s time to verify your account. Start with the verification of your email. Click on the “Verify my Email” box on the page. As soon as you click on it, you will receive an automatic email from the trading company. And that’s it, eToro will verify your email, and you can proceed to the next step.

Step 4 – You can now access the platform and complete your eToro profile. You must complete your profile when you join the platform for a better trading experience. Submit the identification document to complete the verification. To help get a better understanding of the users, eToro asks them to complete the questionnaire. Be sure you are honest while answering the questions.

Step 5 – Users can now scroll through the platform’s tools and other vital features to start their investment journey. 

Customer Satisfaction

Being the leading online trading company, eToro has consistently received positive user reviews. As per the 11000+ reviews on TrustPilot, the company received a 4.1-star rating out of 5. 

What’s even more, the app store rating of eToro is another impressive thing. The platform received 4.1 stars on the Google Play Store, whereas it stands at 3.7 stars on Apple Store. 

Despite ranking higher, there is some negative feedback from the users too. The two most common feedbacks are slow withdrawal times and inability to withdraw funds. Many other users claim that the company charges high hidden fees. 

eToro Vs. Competition

There is no doubt that eToro is the most potent social trading platform worldwide that offers a wide selection of cryptocurrencies. However, certain things make people think twice before trading on eToro. 

Binance offers tough competition to eToro as it offers abundant crypto coin selection at relatively low fees. Let’s compare both platforms to pick the one that will suit your needs and preferences. 

eToro VS Binance 

Based on the trading volume, Binance is considered one of the largest cryptocurrency exchanges. Both trading and non-trading fees of Binance are much lower than other trading sites. Let’s dive deep into the major points that differentiate eToro from Binance and vice versa. 

  1. Trading Coins – Binance offers 400+ trading coin options to users, which is by far the largest among its competitors. On the other hand, eToro offers only 35 different trade coins, 63 non-USD currency crosses, and 14 crypto crosses. 
  2. Fees – When we compare Binance and eToro based on costs, the latter charges way higher. When you trade on eToro, the spread fees range between 0.75 – 4.50%, whereas the trading fees are 0.1% on Binance. 
  3. Account Opening – To open an eToro account, you must pay a minimum deposit fee of $50. On the other hand, you don’t have to pay any minimum deposit amount at Binance. 

Even though several aspects prove that Binance has more pros, one must consider that it does not have a transparent corporate structure. In addition, any stock exchange does not list the trading exchange, which makes it less reliable. So, before choosing any stock trading platform, it’s wise to analyze its pros, cons, and features. It will help you understand each platform to make a more intelligent choice. .

Final Verdict 

Should You Consider Using eToro? 

  1. Straightforward Pricing – One of the best things about eToro is its transparent and clear pricing structure. Many of its rivals charge transactions and spread fees based on the trade size. However, this is not the case when you use eToro. The platform only charges spread (i.e., buying and selling difference). 
  2. Popular Cryptocurrency Selection – eToro offers a great selection of cryptocurrency on its platform. Regardless of your trading preferences, you will indeed find popular cryptocurrencies to trade. 
  3. Stock Investing Available – There are fewer platforms available that offer stock investing and crypto trading. eToro offers both zero-commission stock trading as well as excellent cryptocurrencies. 

Shortcomings Of eToro 

High Fees On Digital Currencies – eToro pricing structure differs based on your trading digital currency. For instance, you don’t have to pay much if you’re trading Bitcoin. But if you opt for other cryptocurrencies, the spreads range between 1.9% – 5%.

The unique social trading feature of eToro is the main reason why many people are choosing the platform. If you’re a beginner trader living in the country where eToro is available, eToro would be a great choice. On the flip side, if the high fees are something that bothers you, there are plenty of other trading exchanges you can explore. 


I am a beginner in trading. Is the eToro trading platform safe for me?

In short, yes. eToro is one of the most easy-to-use and secure platforms available in the market. Beginners can quickly learn the basics and even trade using the strategies of the pros. Moreover, the valuable features and user-friendly interface of the mobile app and web platform make it a good choice.

How do I withdraw money from my eToro account?

If you want to withdraw the funds from your account, you can submit a withdrawal request to eToro. In the left-hand menu, you will find a withdraw fund button. You can enter the amount, select currency, and choose the right payment option. Once you're done, you can click on submit to make an easy withdrawal.

Is etoro legal in Australia and good for long-term trading?

Yes. If you wish to generate a good income and invest for the long term, you can choose eToro AU as your trading partner as it is legal in Australia. It is safe, secure, and regulated by top-tier financial authorities. Thus, you can rest assured that your money is safe in the long run.

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