eToro crypto review
- Regulator registration
- ASIC
- Supported assets
- 106
- Fiat currencies
- 22
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
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Copy Trading. eToro is the pioneer of Copy Trading which allows you to follow the trades of certified investors.
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Licensed. in Australia eToro hold and AFSL and is registered with AUSTRAC as a Digital Currency Exchange (DCE).
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Easy to navigate. eToro has a very simple interface and is easy to get a hold of.
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Customer service. eToro's customer service is highly rated on TrustPilot.
Cons
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Forex risk. Australians will first need change their AUD into USD to trade on the platform.
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Asset coverage. eToro has fewer digital assets than dedicated cryptocurrency exchanges.
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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.
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 eToroeToro 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).
- Get started
Visit eToro's site. After selecting the Get Started button, fill in the create account form. - 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. - 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. - 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. 
| 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 |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $149 |
Price (USD) $49.99 |
See more of the best crypto wallets
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
Alternatives to eToro
James Finder
Editor
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