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eToro crypto review

  • James Edwards's headshot
eToro Crypto
4.0
★★★★★
Finder score
4.0
★★★★★
Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
Regulator registration
ASIC
Supported assets
106
Fiat currencies
22
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Summary

Buy and sell crypto on this popular social trading platform.

eToro provides Australians with a secure and licensed gateway to invest in cryptocurrency.

The platform offers a bespoke layout which is designed to simplify trading into a few actions.

This makes it well suited to beginners, even those who have never traded before.

But that also means that experienced traders who want highly detailed charts and interfaces may consider other options like Kraken Pro or Binance.

eToro is most famous for its wide range social trading features, notably Copy Trading.

This gives users the ability to track, interact with and copy other traders on eToro. In that sense, eToro is like social media for investors.

The downside is that the fees can add up quickly. You're charged a forex fee to convert AUD into USD, and there's a fee when you withdraw cash.

But crypto trading fees are charged at a flat 1%, which is higher than some competitors but not too bad.

eToro also offers customers the ability to add traditional stocks and commodities to their crypto portfolios (or vice versa).

Pros

  • Copy Trading. eToro is the pioneer of Copy Trading which allows you to follow the trades of certified investors.
  • Licensed. in Australia eToro hold and AFSL and is registered with AUSTRAC as a Digital Currency Exchange (DCE).
  • Easy to navigate. eToro has a very simple interface and is easy to get a hold of.
  • Customer service. eToro's customer service is highly rated on TrustPilot.

Cons

  • Forex risk. Australians will first need change their AUD into USD to trade on the platform.
  • Asset coverage. eToro has fewer digital assets than dedicated cryptocurrency exchanges.
  • Crypto withdrawals. To withdraw crypto, you first need to send it to an eToro Money crypto wallet before you can send it to another wallet.

In this guide

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  • Details
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Details

Product details

Product Name eToro Crypto
Fiat Currencies USD, EUR, GBP, AUD, RMB, THB, IDR, MYR, VND, PHP & 12 more
Cryptocurrencies BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM & 60+ more
Deposit Methods Bank transfer
Credit card
Debit card
PayPal
eToro Money
Trading Fee 1%
Deposit Fees Fees vary (up to a 3% currency conversion fee for AUD)
Withdrawal Fees AU$5 (min. of US$30)
Up to a 3% currency conversion fee for AUD

Ratings breakdown: How we scored eToro

Supported cryptocurrencies ★★★★★
Transferring money or assets ★★★★★
Fees and costs ★★★★★
Ease of use ★★★★★
Customer service ★★★★★
Features ★★★★★
Staking/earn ★★★★★
Trustworthiness/security ★★★★★

How we rate our crypto exchanges and platforms

Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology for more information.

Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.

About eToro

eToro Crypto is an experienced player in the digital trading market, founded in 2006.

It was founded inTel Aviv, Israel and now has headquarters in Cyprus, Britain, the US and Australia among others.

eToro supported assets

eToro supports over 105 cryptocurrencies, but some notable assets are missing. Namely, Tether, USDC and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on eToro.

Popular assets on eToro
supports
Bitcoin (BTC)
supports
Ethereum (ETH)
does not support
Tether (USDT)
supports
BNB (BNB)
supports
Solana (SOL)
does not support
USDC (USDC)
does not support
Lido Staked Ether (STETH)
supports
XRP (XRP)
does not support
Toncoin (TON)
supports
Dogecoin (DOGE)
supports
Cardano (ADA)
supports
TRON (TRX)
does not support
Shiba Inu (SHIB)
supports
Avalanche (AVAX)
does not support
Wrapped Bitcoin (WBTC)
supports
Polkadot (DOT)
supports
Chainlink (LINK)
supports
Bitcoin Cash (BCH)
supports
NEAR Protocol (NEAR)
supports
Uniswap (UNI)

eToro fees review

Deposit and withdrawal fees

Transaction type Fee
Deposit funds Fees vary (up to a 3% currency conversion fee for AUD)
Withdraw funds AU$5 (min. of US$30)
Up to a 3% currency conversion fee for AUD
Other fees Conversion fees - AUD/USD: 100 Pips, CAD/USD: 250 Pips, EUR/USD: 250 Pips, JPY/USD: 250Pips, GBP/USD: 50 Pips, RMBUSD: 50 Pips, RUB/USD: 50 Pips

eToro uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.

Type Fee
Maker 1%
Taker 1%

Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.

Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.

eToro deposit methods

  • Bank transfer
  • Credit card
  • Debit card
  • PayPal
  • eToro Money

How to sign up on eToro

Before you can get started trading on eToro, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).

  1. Get started
    Visit eToro's site. After selecting the Get Started button, fill in the create account form.
  2. Set up payment
    Before you can start trading, you have to add your bank account to your eToro account. There are several options to choose from, so choose the option most compatible.
  3. Provide identification
    Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this.
  4. Start trading
    After all that is processed, you're ready to trade on eToro.

About the eToro app

Finder users praise the app for being easy to use and offering many of the same features as the desktop exchange, in a beginner friendly interface.

You can Copy Trade from within the app and access both stocks and crypto.

3 screenshots of the eToro app

App store Rating Total reviews
Google Play 3.7 stars 134k reviews with 10m downloads
Apple Store 4.7 stars 7 reviews

Is eToro safe?

eToro is regulated by a host of financial authorities including the US, Europe and Australia. In Australia, it's licenced by the Australian Securities Investment Commission (ASIC) under the trading name eToro AUS Capital Pty Ltd.

Among popular user review sites, feedback has been mixed.

On the complaints side, reviewers primarily point to the withdrawal fees and spreads.

The positive reviews highlight eToro's user-friendly platform and Social Trading features that allows users to share live trading news and ideas with one another.

Keeping your crypto secure

All centralised exchanges, including eToro, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

eToro customer support

Customer support is primarily available via live web chat which operates Monday to Friday.

Outside of those times you can interact with a chatbot which is available 24/7.

If your request is not time sensitive you can lodge a support ticket via the help centre or read many of the articles available.

How to reach eToro customer support

  • Contact form
  • Help center articles
  • Live chat
  • Phone
  • Support ticket

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Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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James Finder

Editor

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