Introduction
eToro, founded in 2007, is a multi-asset investment and social trading platform with over 35 million traders across 140 countries as of 2023. After six months of rigorous testing and analysis, I've compiled an in-depth review of eToro's features, fees, and usability compared to other regulated brokers in Australia.
Key Questions Addressed:
- Trustworthiness: Is eToro a reliable platform?
- Usability: How beginner-friendly is the interface?
- Costs: What are the trading fees and hidden charges?
- Diversity: Can you build a diversified portfolio?
My Overall Opinion on eToro
Strengths
- User-Friendly Interface: Rated 4.1/5 on Trustpilot, ideal for beginners.
- Copy Trading: Automatically replicate strategies of experienced traders.
- Diverse Assets: Stocks, ETFs, CFDs, cryptos, Forex, indices, and NFTs.
- Security: Regulated in Australia and 140+ countries.
- Cost-Effective: $0 commissions on real stocks/ETFs and fractional shares.
Ideal For:
- Beginners: Low minimum deposit ($50), demo account with $100K virtual funds.
- Social Traders: Community features like news feeds and strategy sharing.
Limitations
- Advanced Traders: Higher spreads vs. brokers like IG; lacks MetaTrader integration.
Fees and Commissions
Account Fees
- No opening/management fees.
- Withdrawals: Free in AUD/GBP; $5 fee for USD (waived for eToro Club members).
Trading Fees
| Asset | Fee Structure |
|----------------|----------------------------------------|
| Stocks/ETFs | $0 commission (no leverage) |
| Cryptos | 1% spread (higher than Binance/Kraken)|
| CFDs | 0.09% commission, min $1 AUD/trade |
👉 Compare eToro’s fees with other brokers
Platform and Features
Copy Trading
- Free to use with customizable stop-loss/take-profit limits.
Mobile & Desktop
- Intuitive design but lacks advanced charting tools (e.g., TradingView).
Trader Tip
Disable default leverage/stop-loss settings to avoid unintended risks.
User Reviews (Trustpilot: 4.1/5)
Pros
- Easy onboarding.
- Responsive customer service.
Cons
- High currency conversion fees.
- Occasional withdrawal delays.
Account Setup & Funding
Steps to Open an Account:
- Sign up via email/Facebook.
- Verify ID/address.
- Deposit $50 AUD minimum.
Funding Methods
- Instant deposits via card; 1–3 days for bank transfers.
👉 Start trading on eToro today
FAQ
Is eToro safe?
Yes, it’s regulated in multiple jurisdictions, including Australia.
What’s the minimum deposit?
$50 AUD.
Can I trade cryptos on eToro?
Yes, but with higher fees than crypto-exclusive platforms.
How does Copy Trading work?
It mirrors trades of selected investors in real time.
Final Verdict
eToro excels for beginners and social traders with its intuitive platform and Copy Trading. While advanced traders may find fees restrictive, its asset diversity and security make it a top choice for casual investors.
Ready to explore eToro? Sign up now.