eToro review: Forex and CFD social trading network

Follow the lead of experienced forex traders with eToro, the world’s largest social trading network.

Social trading is a relatively new investment concept, where online investors use crowd wisdom and user-generated content to make better trading decisions. eToro is the largest social trading network in the world, boasting more than five million members globally.

1.0 pip

Minimum spread

$200 (to CopyTrade)

Minimum Trade Size

eToro Trading Platform


Updated October 21st, 2019
Name Product Minimum Opening Deposit Minimum spread Commission Minimum Trade Size Platforms
1.0 pip
$200 (to CopyTrade)
eToro Trading Platform
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Social trading, advanced charting tools, plus receive exclusive benefits through the eToro Club (membership is tiered based on the equity in your trading account).

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Updated October 21st, 2019
Name Product Minimum Opening Deposit Major Trading Instruments Commission (ASX 200 Shares) Platforms
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs
No commission
eToro Trading Platform
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Join the largest social trading network in the world.

Compare up to 4 providers

Disclaimer: Trading in financial instruments carries various risks, and you can lose more than your capital. This article may contain general advice. You should always seek professional advice when deciding if a product is right for you.

Quick verdict

Good for
  • Social trading broker
  • World's biggest social trading network
  • Educational material and data
Not so great for
  • Account base currency always in USD
  • No MetaTrader 4 (MT4)

Who is eToro?

eToro was first created in 2007 to make online trading and investing available to anyone. Whether you had experience or not, eToro helped open up online trading to every day investors, through their initially offered WebTrader platform. The company has however, gone through a comprehensive evolution to reach the point it's at today.

eToro provides clients with a multitude of traditional and copy trading broker services, through an easy to use platform available on desktop or mobile. Starting with their OpenBook platform and now with their brand new eToro trading and investing platform, they can almost be solely credited with started the social trading revolution.

If you're looking for more than just a standard forex or CFD broker, then the social trading elements outlined in this eToro review are for you.

What are the key features of eToro social trading?

As a leading social trading broker, eToro already differentiate themselves from the pack, but here are a few key account features worth highlighting.

Social trading

As an eToro user you can view trading activity of other users. You can then copy them to make your own, better informed trades. The trades of eToro users upload to the eToro network, where you can view them in different statistical ways. If you follow other traders, eToro duplicates every trade made in the accounts you choose to follow.

Market data and research

The eToro trading and investment platform is a connection point for traders of all types and backgrounds. You're able to use this platform to discuss, share and learn about market ideas and trading strategies. It's here that you can learn, share and have discussions about trading strategies, while sharing market ideas.

Access to to markets

The eToro trading and investment platform provides easy access to global forex and CFD markets through any web browser. If you're on the go, you can access your eToro trading account via your mobile browser, or on dedicated Android and iOS apps.

Risk management

Through the eToro trading and investment platform, you can edit both your desired risk level and the amount you invest with each trade through the use of mandatory stop loss levels. This allows you to clearly tailor each trade to suit your risk/reward strategy and always keeps your risk level in front of you.

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What markets can I trade with eToro?

  • Forex. eToro offers traders the ability to choose between over 50 forex currency pairs. Currencies are traded on eToro as CFDs.
  • Stock market CFDs. Trade individual, publicly listed companies as CFDs. eToro gives you the option of trading a number of global share market CFDs.
  • Indices. Instead of investing in individual companies, stock market indices allow you to invest in a basket, such as the top 500 US stocks in the S&P 500.
  • Commodities. If you're looking at diversifying your portfolio by investing in commodities, the options eToro has on offer include silver, gold, copper, palladium, platinum, natural gas and oil.
  • Cryptocurrencies. eToro have recently added the ability for you to trade cryptocurrency CFDs such as Bitcoin or Ethereum.

What customer support options are available from eToro?

If you ever have a question about your eToro account or how you can get more out of this social trading network, the broker offers an extensive help section on its website. There you will find the answers to hundreds of frequently asked questions about trading with eToro. If you can't find the answer you're looking for, you can ask a question on eToro's Customer Service Wall (available 24/5) or open a support ticket online.

You can also learn more about the ins and outs of forex trading through the eToro Trading Academy, which provides webinars, an e-course, trading tips and a dedicated education centre.

What are eToro's spreads and fees?

  • Spreads. eToro offers tight spreads across a wide range of currency pairs. The spread offered for AUD/USD is now just 1 pip.
  • Leverage. The maximum leverage available with eToro Australia is 400:1.
  • Base currency. The base currency on your eToro Australia trading account is always in USD.
  • Minimum deposit. The minimum deposit when opening an eToro trading account is $200.

What are the pros and cons of using eToro?


  • Social trading broker. This is a unique feature that allows traders can follow each other's performance and copy each other's trade positions.
  • World's biggest social trading network. eToro has 4.5 million users in over 170 countries, representing a vast pool of traders and their expertise.
  • Educational material and assistance. New and seasoned traders have access to eToro's online Trading Academy, as well as trading eCourses and live webinars.


  • MetaTrader 4 is not supported. MetaTrader 4 is not compatible with eToro's other products.
  • Account base currency always in USD. There is limited information about eToro Australia's forex trading services on the company's website. You'll need to sign up for an account to find out more about what you can trade with this provider.

How do I apply for an eToro Australia account?

It's free and easy to create an eToro account and connect with other traders and investors around the world. Simply apply online by clicking the go to site button on this page and following these steps:

  • Supply your full name
  • Enter your email address and phone number
  • Create a username and password

In order to satisfy financial service regulations, you'll also need to provide proof of ID so your account can be verified. To do this, you'll need to provide scanned colour copies of a government-issued ID, such as your driver's licence.

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eToro frequently asked questions?

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  1. Default Gravatar
    January 10, 2018

    I am having trouble logging I to my account even tried to reset my password ,
    Is the system down.
    Please advice.

    • AvatarStaff
      January 10, 2018

      Hi Jaicingh,

      Thanks for your inquiry. Please note that we are not affiliated with eToro or any company we feature on our site and so we can only offer you general advice.

      Please visit eToro official site and contact them directly to report an issue with your log in details.

      Best regards,

  2. Default Gravatar
    December 14, 2017

    I want to buy 1000 ripple and hold them for an indefinite then sell at some future time.
    How much do I have to deposit in my account (Australian dollars). They are currently 60cents US.
    What will be the purchase fees? Sales fees? Are there any other applicable fees?

    • Default Gravatar
      Ash Munoz
      December 21, 2017

      Hello Bob,

      Thank you for visiting finder.

      If you wish to buy and sell Ripple in Australian Dollars (AUD), you can directly go to Coinspot. According to their website, if you will buy 1000 XRP (Ripple), you will be paying $1257.69 (AUD) which already includes 2-3% of the total transaction. The value of Cryptocurrencies differ/ changes from time to time so it will be better to visit the exchange where you will be making the transaction to check for their current rate.

      Other fees and charges can be found on this page as it explains how you can buy/ sell through Coinspot.

      I hope this helps.

      Let us know if there is anything else that we may assist you with.


  3. Default Gravatar
    December 9, 2017

    I am in Australia. Can I sell in Australia and what are your payment methods. For example creditcard/debit card, paypal, bank account?

    • AvatarStaff
      December 11, 2017

      Hi Rob,

      Thank you for visiting finder, we are an Australian financial comparison website and general information service.

      Yes trading or buying and selling is allowed in Australia. For payment methods, you can deposit money into your eToro account by credit card, debit card, PayPal or bank wire transfer.


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