If you are based in Australia and looking for a top online stockbroker that offers great crypto deals as well as zero commission on stock purchases, read on for our comprehensive eToro review Australia.

Below we dive into what great services Aussies can expect from eToro, focussing on eToro’s transparent AUD fee structure. We show you what’s good, what’s bad — and how to get started!

eToro Review Australia: Pros & Cons

Pressed for time? Here is a summary of our eToro review Australia, picking out the key pros and cons of this broker:

Pros

  • 25m+ verified users
  • Comprehensive regulation – ASIC in Australia
  • Buy 3000 stocks and 250+ ETFs at zero commission
  • Buy Bitcoin Australia plus 60+ other key cryptos
  • Transparent about fees
  • Accepts AUD deposits and withdrawals
  • Free smartphone app
  • Free eToro Money crypto & personal finance wallet
  • Social Trading – Smart Portfolios and CopyTrader

Cons

  • $5 withdrawal fee
  • $10 inactivity fee after 12 months

etoro logo

Cryptoassets are a highly volatile unregulated investment product.

Tradable Assets

In this eToro review Australia we look at eToro’s full gamut of stocks, crypto, ETFs, forex, commodities and indices.

eToro trading review in a nutshell: there is a lot of assets to choose from!

Buying Stocks on eToro Australia

eToro offers almost 3000 stocks to trade:

  • 1145 stocks on the New York Stock Exchange
  • 854 on the NASDAQ
  • 900+ on exchanges in London, Hong Kong, Frankfurt, Paris, Zurich, Madrid, Milan, Stockholm and Amsterdam.

Stock sectors include Energy, Software, Durable Goods, Tech, Retail, Financial Services, Med Tech, Entertainment, Media Services, Consumables and Transportation.

Explore Stocks with eToro

You can start getting a feel for the range of stocks on offer by reviewing the Daily Movers on your eToro interface:

You can also review Trending Stocks, Popular Picks based on your individual profile, and really useful market analysis powered by TipRanks:

Click on a stock’s logo to review its homepage.

Here a chat-feed will show you all recent mentions of the stock by other investors; this is a great place to pick up some ideas, but — when it comes to other investors — don’t believe everything you read!

For rock-solid data, click on ‘Stats’ for a comprehensive statistical overview of the stock. Click on ‘Research’ to read what pro analysts think of the stock. You can get an exclusive insight, too, into what hedge fund activity has involved the stock recently.

Click on ‘Chart’ to view a price chart of the stock in question. You can adjust this chart in numerous ways and access powerful technical charting options.

Hit the ‘Trade’ button when you are ready to buy. This is the start of the simple buying process, which we go into in detail below.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Trading Crypto on eToro Australia

There are so many options when it comes to how to buy cryptocurrency in Australia.

eToro offers the unusual bonus of being a regulated vendor, as well as providing a growing suite of almost 60 major crypto including:

  • Key blockchains including Bitcoin (BTC), Ethereum (ETH), XRP , Solana (SOL), Cardano (ADA), Cosmos (ATOM), Tron (TRX) and others.
  • Key store-of-value coins Bitcoin Cash (BTC), Ethereum Classic (ETC) and Litecoin (LTC).
  • A fantastic range of key DeFi tokens including Curve (CRV), Yearn Finance (YFI), Maker (MKR), Uniswap (UNI), Aave (AAVE), Algorand (ALGO) and more.
  • Meme coins: you can buy Dogecoin (DOGE) Australia as well as hugely-popular Shiba Inu (SHIB).
  • Metaverse tokens for online worlds Decentraland (MANA), Sandbox (SAND), Enjin (ENJ) and others.

And single crypto coins is only half of eToro’s crypto offering. eToro is also one of the best crypto staking platforms in Australia, as it supports three popular POS cryptos.

You can trade 14 crypto crosses. These are like forex pairs, except that they consist only of cryptocurrencies. You can trade, for example, the ETH/EOS pair, betting that the price of ETH will outperform the price of EOS.

You can trade 63 currency crosses. Each currency cross pits one crypto against one conventional fiat currency. You can trade, for example, the BTC/EUR pair, betting that the price of BTC will outperform the price of the Euro.

One commodity cross is available, and it is a key one: you can trade the GOLD/BTC pair and bet that the price of gold will outperform the price of Bitcoin.

A key advantage of using eToro to trade crypto rather than a crypto exchange is that, in certain countries including Australia, you can use Contracts-For-Difference (CFDs). These allow you to gear your trades, as well as go short on crypto.

Explore Crypto with eToro

As with eToro stocks, you can get the hang of what crypto stock is on offer via your main eToro interface. Click on ‘Discover’ on the left toolbar and press ‘Crypto’ on the central menu that comes up.

Now you can get the highlights of the crypto available organised by Daily Movers and Trending Crypto.

You can also see what crypto CopyTraders and Smart Crypto Portfolios are available. There are 600+ crypto traders you can copy, and 8 crypto portfolios you can buy into; see below for details.

To review a particular crypto, press its logo. This takes you to its homepage. As with eToro stocks, you can access a chatfeed, stats, charting tools, research and news.

Press the blue ‘Trade’ button to open the buying dialogue; see our guide to buying with eToro below.

Crypto assets are a highly volatile unregulated investment product.

ETFs

For those looking to gain exposure to a wide range of markets via exchange-traded funds, there are 264 ETFs to trade on eToro, including the SPDR S&P 500 (SPY), the oldest and biggest ETF which tracks 500 influential US stocks.

Forex

If you’re an avid forex trader then you’ll be pleased to learn that you can trade 49 forex pairs on eToro. AUD options include AUD/JPY, AUD/USD and AUD/CAD.

Commodities

32 commodities are available, including gold, oil, and gas. Investing in commodities can help minimize the volatility of a diversified investment portfolio. Commodities are also a great financial instrument to use as a hedge against any potential fluctuations in the inflation levels.

Indices

13 indexes are hosted, including the mighty US Nasdaq 100, the UK FTSE 100 and the GER40.

eToro Australia Fees & Commissions

A breakdown of fees and commissions takes centre stage in our eToro review Australia. Investors need to know exactly what fees apply, and eToro are very transparent about what they charge.

Because all users of the eToro platform — regardless of their country of residence — must use US dollars, we use US dollars rather than Australian Dollars in our examples below.

eToro Australia Trading Fees

Asset

Spread Fee Buy Fee Sell Fee
Stocks Varies by stock zero zero
Crypto Varies by crypto 1% 1%
ETFs Varies by ETF zero zero
Forex From 1 pip; depends on forex pair zero zero
Commodities From 2 pips; depending on commodity zero zero
Indices From 1 point; depends on index zero zero

eToro Fees: Contracts-For-Difference (CFDs)

When you trade forex, commodities and indices with eToro, you trade using CFDs (Contracts-for-Difference). Some stocks, ETFs and crypto are also available to trade as either normal trades or CFD trades.

CFDs mean you do not actually get to own the underlying asset. Rather, you enter into a deal that hinges on the movement of its price.

Critically, CFDs give the trader more options than conventional trades. With a CFD, you can often sell ‘short’ (which means betting that the price will go down). You can also leverage your trade for greater sensitivity to price movements.

CFDs with eToro incur a small overnight fee for however long the trade is open. The amount of the overnight fee varies, depending on both the asset and the size of the position. eToro provides full details each time you trade, so you won’t get caught out.

eToro Fees: Stock Example

Suppose you want to take advantage of Netflix’s recent dive in price. You want to buy 100 Netflix shares.

The Buy (B) price is $226.30. So 100 shares will cost you 100*$226.30 = $22,630.

You are charged no commission or fees. All you need to be aware of is the spread.

You will notice from the screenshot above both the Sell (S) price ($225.83) and the Buy (B) price ($226.30). That means that the spread fee % that applies to Netflix is (226.30-225.83)/226.30=0.21%.

When you come to sell your Netflix shares back to eToro, you will effectively be charged 0.21% on your entire transaction: this is the spread fee. you will be given whatever Sell (S) price exists at the time, which will be 99.79% of the Buy (B) price.

Spread percentages differ from stock to stock.

eToro Fees: Crypto Example

Suppose you want to buy Dogecoin Australia. You want 1000 DOGE, for example.

You will be charged the spread, which is the difference between the price you can buy at and the price you can sell at. This is standard for all the best crypto exchanges Australia. You will also be charged a fee of 1% on the price you buy at, and 1% on the price you sell at.

From the screenshot example above, you can see that the Buy (B) price is $0.1416 and the Sell (S) price is $0.1387.

  • The 1000 DOGE will cost you 1000 x $0.1416=$141.6
  • The 1% fee on the Buy (B) price will cost you o.01*$0.1416*1000=$1.416
  • The 1% fee on the Sell (S) price will cost you 0.01*$0.1387*1000= $1.387

You will notice that eToro calculates the 1% fee on the Sell price immediately. When you come to sell, of course, the Sell price is likely to have changed. So what happens is this: eToro charges you for both the 1% buying fee and the 1% selling fee when you make the purchase. Then, when you sell your DOGE, eToro recalculates the 1% selling fee and charges you any adjustment.

eToro Fees: ETF Example

The same fees apply to buying ETFs with eToro as they do for buying stocks.

Supposing you want to buy the oldest and biggest ETF of all, the SPDR S&P 500, which incorporates 500 top US stocks.

You will only be charged a spread fee, which is the difference between the available Buy (B) price and Sell (S) price.

eToro Fees: Commodity Example

When you trade commodities with eToro, you get charged a spread (as with stocks). The extent of the spread depends on which commodity you are trading.

Suppose you want to buy some gold. The listed spread fee for gold is 45 pips. What does that mean? Pips can get complicated because they relate to how many decimal places an asset is priced at. In this example, you can see that gold price is listed to two decimal places. So 45 pips = $0.45.

We can confirm this spread fee of 45 pips by deducting the Sell (S) price from the Buy (B) price = $1946.41 – $1945.96 = $0.45.

You will be charged $0.45 on each unit of gold that you buy.

Because trading commodities with eToro involves using a CFD, you will also be charged overnight and weekend fees for as long as the trade is open. These are listed at the bottom of the buying dialogue box:

In the illustrated example above, you can see that the account holder is trying to buy $1000 of gold at x20 gearing; avoid geared trades unless you have considerable experience and a huge risk appetite!

For our purposes, look at the bottom of the box. You can see that an overnight fee of $0.07 will apply, as well as a weekend fee of $0.21.

eToro Fees: Index Example

Trading with indices works the same as buying commodities. For each index transaction, a spread fee is charged which differs from index to index.

Transactions involving the Nasdaq 100 index, for example, are charged at a spread fee of 2.4 points.

We can confirm this by comparing the Buy (B) price and Sell (S) price in the illustration below. The Buy (B) price is 13918.65. The Sell (S) price is 13916.25. 13918.65-13916.65= 2.4.

eToro Fees: Forex Example

Supposing you want to bet that the Euro will rise in relation to the US Dollar. You allocate some funds and purchase some EUR/USD pairs.

From the entry for this pair on eToro’s forex page, you can see that right now the Buy (B) price is $1.08434 USD. The Sell (S) price is very slightly lower, at $1.08424.

The difference between the Buy price and the Sell price is the spread, which equals $0.0001. For this particular pair, $0.0001 equals 1 pip. You will be therefore be charged 1 pip for each pair you buy.

eToro Australia Non-Trading Fees

Fee Type Fee Amount
Account setup zero
Account management zero
Deposit zero
Withdrawal $5 USD ($6.7 AUD)
Currency Conversion AUD Bank transfer deposit: 50 pips
AUD Bank transfer withdrawal: 50 pips
AUD Credit card/Neteller/Skrill deposit: 100 pips
AUD Credit card/Neteller/Skrill withdrawal: 100 pips
AUD eToro Money deposit: free
AUD eToro Money withdrawal: 50 pips

eToro Fees: News Alert

As from May 8, 2022, the fee for deposit & withdrawal of AUD for credit card/Neteller/Skrill is changing to 150 pips.

Is eToro User-Friendly?

User-friendliness is a key factor in deciding which online brokerage to use. Since its launch in 2007, eToro has prided itself on offering a slick, user-friendly interface and an efficient chat and ticket help system. Although offering plenty of trading punch to more advanced traders, eToro is particularly user-friendly to beginners. That’s why eToro is a pioneer of Social Trading.

eToro Australia Social Trading

Social Trading means supporting both the newbie trader and the advanced trader. With social trading, you need never feel alone in making trading decisions.

eToro offers arguably the most comprehensive social trading facility of all online brokerages. A chatfeed for investors to post their own ideas and analysis is provided, and eToro also offers CopyTrader and Smart Portfolio functions.

What is Copy Trading on eToro?

eToro Copy Trading review in a nutshell: with CopyTrader, you can copy other traders for free!

With a very powerful filter function, you can browse through literally thousands of other eToro investors. You then pick one you like the look of, allocate funds, and the CopyTrader function will automatically mirror their trades in real-time using your funds. For every trade they execute, a proportion of your allocated funds will be used to execute the same trade on your behalf.

There is no copying fee, but any trading fees will apply.

You can review traders by their location, the market they invest in, their average gains over the last 12 months and their risk rating.

Take the example of Nezatron. This trader focuses on value stocks and ETFs. She has over 4000 copiers, a risk rating of 4/8 and an impressive 21.29% return on her portfolio in the last 12 months.

Another example is crypto trader Cristianan. He has achieved a return of 22.12% in the last months with a risk rating of 6/8. In 2021, Cristianan rode the crypto sector to achieve an 2021 return of 67.99%. He has 225 copiers.

The minimum amount required to copy another trader is $200 USD. Each copied position must be a minimum of $1 USD.

What are Smart Portfolios on eToro?

There are 67 Smart Portfolios. Each is a strategic holding of various stocks or crypto.

From the illustration below, you can see that the top 10 Smart Portfolios have achieved some excellent returns in the last 12 months.

The top Smart Portfolio, Napoleon-X, for example, has returned 48.17% return by using algorithms to trade crypto. The GoldenEnergy portfolio has come close with a 12-month return of 47.56% by investing in gold and energy stocks.

Investors can buy into one of these holdings with a minimum investment of $500. When you allocate funds to a smart portfolio, trades will be made proportionally to divide your allocation into the assets represented in the portfolio.

eToro Australia Charting & Analysis

Charting tools are available on both the eToro desktop and smartphone platforms.

On both, you can choose which format you want to see charts in (line/mountain/candlestick etc).

On the smartphone app, you can show Bollinger Bands, Moving Average, MACD, RSI and Stochastics.

The desktop platform provides a massively-expanded range of similar charting functions. What’s more, you can compare two asset prices against each other, which is very handy. In the illustration below, for example, you can see how the crypto LUNA, governance token for the Terra stablecoin system, has been outperforming Bitcoin recently. Both are available to buy with eToro.

Crypto assets are a highly volatile unregulated investment product.

How many eToro Account Types are there?

There are 3 main types of eToro account:

  1. Retail investor – that means you and me!.
  2. Professional investor – requires special accreditation.
  3. Virtual account – this is a demo account which allows you to practise trading with $100,000 USD.

On top of that, there is a whole range of tiers which investor can access by joining the eToro Club. These tiers range from Silver (which is the lowest level) to Diamond. Each tier confers certain privileges. All investors are automatically given a Bronze tier account when joining.

You join a tier automatically when your equity is at a certain level:

  • Silver: $5,000
  • Gold: $10,000
  • Platinum: $25,000
  • Platinum+: $50,000
  • Diamond: $250,000

eToro App Review

The eToro smartphone app allows investors to do on the move everything they can do on the desktop app. With the smartphone app you can buy and sell, keep an eye on hot assets using your watchlist, and access full social trading options.

The design is kept very simple, which makes the eToro smartphone app ideal for beginners. Because of this design simplicity, though, it sometimes it takes a while to find various functions. But that’s a drawback common to all online brokerage apps: phone screens are simply too small to show everything at once. Generally the app is very useable, and the speed of operation is fine.

The Google Play eToro app version has received an average score of 4.2/5 from 116k reviews. On the App Store, the app has received an average score of 3.7/5 from almost 7k reviews.

eToro Australia Payment Methods

You can make AUD deposits with eToro using bank transfer, credit card and payment wallets Skrill and Neteller.

eToro Minimum Deposit

A minimum first deposit with eToro applies of $50 USD.

From Australia, minimum deposits are:

  • Bank transfer: $500 USD equivalent
  • Credit card: $10 USD equivalent
  • Skrill: $10 USD equivalent
  • Neteller: $10 USD equivalent

A minimum withdrawal of $30 USD equivalent applies to all types of linked account.

eToro Bonus

You can refer up to 10 associates to eToro for a bonus payment of $50 each. Sign-up incentives sometimes apply too.

eToro Australia Demo Account

If you are a beginner to online investing, you will be pleased to hear that you can experiment with a virtual trading account with eToro.

This demo account gives you a notional $100,000 USD to invest. You get full access to all eToro tools and functions, including CopyTrader and Smart Portfolios. You can switch between your real and virtual accounts at anytime. Just don’t get confused which is which!

eToro Australia Customer Support

eToro offers two ways to get customer support: via a ticketing system and an online chat system. You can register a help ticket here. And you can access online chat by pressing ‘help’ on the left toolbar of your eToro interface.

Is the eToro Australia App Safe?

The eToro brokerage has never been hacked, which is reassuring. Since its launch in 2007, eToro has put a heavy premium on regulation and security.

Regulation

In Australia, eToro holds an Australian Financial Services License with the Australian Securities and Investments Commission. In the UK, regulation is handled by the FCA. CySEC regulates eToro in Cyprus. And, in the US, eToro is overseen by FinCEN and is a member of FINRA and SIPEC.

Security

eToro uses SSL technology to keep its online platform safe. Clients funds are held in Tier 1 banks separate from eToro proprietary funds. Investors can make doubly sure that access to their personal account is safe by activating 2 Factor Authentication (2FA).

How to Start Trading with eToro in Australia

The best way to get started with eToro is to sign up on the desktop platform. Then you can go on to trade on the move using the convenience of the eToro smartphone app.

Sign up

Head to eToro.com. Fill in a few personal details. Or sign up with your Facebook/Google account.

etoro open account

Verify

You will need to have proof of your ID (passport/government ID card) as well as proof of your address (utility bill) to hand. Is eToro safe? The rigour of the verification process should put your mind at rest.

eToro Verify Account Verification ID

Deposit

Once verified, you can deposit funds. You can deposit AUD using bank transfer, Skrill, Neteller or credit card.

Buy

To buy any asset with eToro, search for its ticker name. On the smartphone app, click the ‘Discover’ button in the left toolbar to access the top search toolbar. Then enter the ticker name in the toolbar. Suppose you want to buy Bitcoin Australia — here’s how you search:

Press the blue ‘TRADE’ button next to the icon of the asset you want to trade. This brings up your buying options.

You can choose to specify how much you want to spend, or how many units of an asset you want to buy. When you are ready to activate your trade, press ‘Open Trade’. Your trade will likely be executed immediately. You will receive onscreen notification. You can review your new purchase in your portfolio.

Sell

eToro allows you to sell your assets whenever you feel the time is right. To do so, navigate to your portfolio:

  • In the desktop version, locate the entry for your asset and press the red cross at the far right. This brings up your selling options.
  • In the smartphone app, swipe left on the asset entry to reveal a red button labelled ‘Close Trade’. Press it to access your selling options.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Conclusion

In our eToro review Australia, we have had a detailed look at what you can expect from this top broker.

What makes eToro stand out is its global regulation (ASIC in Australia) and high security. Is eToro safe? Definitely. The broker’s range of 3000 stocks is also a key plus. And, with its quality range of crypto, eToro can definitely be considered one of the best crypto exchanges Australia in 2022.

The icing on the cake is eToro’s pioneering Social Trading, which makes trading more successful for beginner and advanced trader alike.

eToro-logo

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

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