We look at the fees, features, pros and cons of one of the world's biggest online trading platforms.
eToro has something that will appeal to most investors. For those starting their investing journey, eToro’s ease of use, educational resources and copy-trading platform will help you learn how to trade markets while taking some of the complexity out of trading.
It's also one of the cheapest brokers around. According to Finder's research, it was the first broker to offer $0 brokerage on Australian stocks without any caveats (but will be introducing fees from 11 August 2024). The broker also allows you to trade in most of the world and it has incredibly cheap trading fees for US and global stocks.
If you're looking for a platform that's easy to use and offers a mix of stocks, ETFs, crypto and thematic portfolios, this could be the one for you. On the downside, your account will be based in US dollars. It's also more targeted towards active traders over long-term passive investors as you can also trade contracts for difference (CFDs) and forex, which are riskier financial products.
While there are plenty of global online brokers, eToro's big drawcard is its social trading feature that allows you to copy the actions taken by the platform's leading traders.
Although targeted towards more active traders, the fact that you can learn from others and share investment ideas makes this platform a solid option for anyone looking to master their skills in stock, forex, commodities and cryptocurrency trading.
| Type of broker | Online only |
| ASX products | Shares, Exchange traded funds |
| Available markets | ASX, NASDAQ, NYSE |
| Standard brokerage fee | US$0 |
| Support | |
| Go to site More Info |
| Type of broker | Online |
| Available markets | 47 global currency pairs |
| Minimum Spreads for Major Currencies | 1.0 pips |
| Commission | $0 |
| Minimum opening balance | US$200 |
| Minimum Trade Size | US$200 (to CopyTrade) |
| Leverage | 1:1 to 30:1 |
| Platforms | eToro Trading Platform |
| Support | |
| More Info |
| Type of broker | Online |
| Available CFD markets | Forex, Shares, Indices, Cryptocurrencies, Commodities, ETFs |
| Commission - ASX 200 Shares | No commission |
| Minimum Opening Deposit | US$50 |
| Minimum trade size | 0.01 lot |
| Platforms | eToro Trading Platform |
| Support | |
| More Info |
| Fees |
★★★★★ 4.5/5 |
eToro offers zero commission trades on stocks from Australia (til August), the US and other global exchanges, including Hong Kong and the UK. |
| Trading tools |
★★★★★ 4/5 |
It has a lot of trading tools, including copy trading, stop-loss orders, social features and the ability to use leverage. |
| Research and education |
★★★★★ 5/5 |
There's a bunch of educational content available through eToro's Investing Academy, plus you can practice your trade strategy through the online demo account. |
| Available securities |
★★★★★ 4/5 |
You can trade stocks, ETFs, cryptocurrencies, and forex CFDs via eToro. |
| Customer support |
★★★★★ 2.0/5 |
While it's not always easy to contact eToro over the phone, it does offer a live chat option through the platform. |
| Available countries |
★★★★★ 4.5/5 |
eToro offers 16 markets, including the ASX, US, UK, Hong Kong, France and Germany. That being said, it doesn't offer the full range of equities in each market. |
eToro is a social network of stocks, CFDs, commodities and forex trading that came out of Tel Aviv back in 2006. In the years since, the broker has become a global powerhouse spreading across 140 countries around the world.
The platform made a name for itself through a few nods to retail investors. Its claim to fame is its popular copy-trading feature, which allows users to track and imitate the actions of the platform's top traders. It also offers incredibly cheap brokerage and educational resources, plus it lets you trade a number of financial products all in one place.
If you're looking for more than just a standard forex or CFD broker, then the social trading elements outlined in this review could be for you.
eToro is regulated by a host of financial authorities including the US, Europe and Australia. In Australia, it's licensed 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, spreads and poor online customer service. The positive reviews highlight eToro's user-friendly platform and OpenBook feature that allows users to share live trading news and ideas with one another.
Ratings from review sites:
Note: Forex and CFD trading always carry risks, which you should be aware of, so read up before you start investing. Do your research before signing up to any forex or CFD trading platform.
Here are the notable account features worth highlighting:
eToro has users across most of the world. It is a platform designed around its social and active traders, with its features favouring them.
eToro's fees make it appealing to pretty much anyone as it offers $0 commission (for now) in a number of countries including Australia. Passive investors might also enjoy the social features that will copy the best traders on eToro's platform.
eToro does not currently charge any traditional broker fees or commissions to trade stocks directly, regardless of the asset being traded. Instead, it charges entirely on foreign exchange spreads and fees.
Currency conversion example: Say you want to transfer $100 AUD onto eToro using a bank transfer (50 pips). You would be charged $0.50 cents AUD. Since at some point you'll also need to withdraw your funds, you'll be charged another 50 pips (0.5%) plus a withdraw fee of US$5.
| Google Play app reviews | 3.8/5 stars based on 129,000+ reviews |
| Apple App Store app reviews | 3.5/5 stars based on 1,800+ reviews |
eToro's platform is unique from most others in Australia's market because you can trade CFDs and stocks from a single account, so it's important to understand the difference.
When you trade stocks, you own the underlying asset and your profits can only be equal to the price rise of the stock. This also means you can't lose more than your initial investment.
CFDs are risky leveraged products that allow you to speculate on the price movements of stocks and other assets such as cryptocurrencies and commodities without ever owning them. Because they're leveraged, both your profits and losses are magnified and you can lose more than your initial investment.
On eToro's platform, you have a choice of adding leverage when you trade stocks. If you choose 1x leverage, you're buying the real stock and you'll see the message, "You are buying the underlying asset."
If you choose to add leverage above 1x, you'll automatically switch to CFD trading as you can see in the image below:
 Trading real stocks on eToro. |  CFD trading on eToro. |
When you sign up to eToro, you have the option of opening a retail account or a professional account. Below is a comparison of the fees, minimum deposits and spreads.
| Retail | Professional | |
|---|---|---|
| Minimum opening balance | US$50 | US$200 |
| Spreads | From 1.0 pips | From 1.0 pips |
| Commission per lot | $0 | $7 |
| Leverage | 1:1–30:1 | 1:1–400:1 |
| Minimum trade size | US$10 (For share trading) | US$10 (For share trading) |
If you have a question about your account, eToro has a help section on the platform. You'll see a live chat option but this isn't available for Australian users at this stage.
You can also learn more about trading forex and CFDs through the eToro Trading Academy. It offers webinars, an ecourse, trading tips and a dedicated education centre.
Support options:
It's free and easy to create an eToro account. Simply apply online by clicking the "Go to site" button at the top of this article and follow these steps:
To satisfy financial service regulations, you'll need to answer a few questions about how much experience you have trading stocks and other products such as CFDs as well as a short quiz that you'll need to pass to qualify for an account.
Kylie Finder
Investments analyst
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Kylie Purcell Finder
September 04, 2023
Hi Glenn, no eToro does not give direct access to all ASX stocks and it also does not offer ASX-listed ETFs. At current, eToro offers around 120 ASX-listed companies.
john
August 02, 2023
1) I want to invest from Australia in one US stock Tesla and hold say for a few years and not trade up and down with the market. What is the best platform to use with good currency exchange fees.
2) Say the stock I purchase goes up in value, and I don’t cash out but keep the stock unsold, do I pay tax on the stock price gain if I don’t sell?
Kylie Purcell Finder
August 23, 2023
Hi John, I can’t give personal financial advice here or recommend a platform, so speaking generally here:
1) Long-term investors that make less than a few trades a year are typically suited to a trading platform that does not charge an inactivity fee. Inactivity fees (sometimes called custody fees, account fees or platform fees) are any type of fee charged by your broker if you don’t make a minimum number of trades or login after a certain period of time. This may be charged monthly, quarterly or annually. You can check out some of our recommended platforms here, as these include both foreign exchange fee and inactivity fee details: https://www.finder.com.au/best-online-share-trading-platforms
2) You only need to pay tax on any profits you make once you’ve sold the shares. More details here: https://www.finder.com.au/share-trading/share-trading-ato
Jan
February 22, 2023
Hi Kylie,
If I open a trading account with eToro, will I be able to trade us ETFS like UNG?
Cheers Jan
Sarah Megginson Finder
April 06, 2023
Hi Jan,
eToro offers both investing in ETFs as the underlying asset, as well as trading them as CFDs. They currently offer access to 300+ ETFs.
Hope this helps!
Jaicingh
January 09, 2018
Hi
I am having trouble logging I to my account even tried to reset my password ,
Is the system down.
Please advice.
Rench Finder
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,
Rench
Bob R
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?
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 differs/ 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 our review 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.
Cheers,
Ash
Glenn
September 02, 2023
does eToro give traders access to all ASX listed stocks