Last updated: February 2nd, 2026
EToro is one of Australia’s most popular share trading platforms. You’ve probably seen them touting their copy trading features on billboards across Australia.
The company wants to be your go-to online broker. But is it good enough?
I had the same questions. So I did a tonne of research and shared my discoveries with you in this review.
I also discovered a secret hack for reducing eToro’s highest fees by about 10X. See below.
Above: eToro’s desktop platform’s interface is the epitome of modern minimalism. Logical and clear, it is easy to wrap your head around.
Who Is eToro For?
eToro isn’t for everyone.
While it’s great for time-poor beginner and intermediate investors, it’s suboptimal for people who want to become serious day traders.
| Who Is eToro Best For? | Why? |
|---|---|
| ASX share and ETF investors | You’ll pay a measly US$2 commission on stocks – and zero on ETFs. And zero currency conversion fees |
| Investors who want to invest in international shares and ETFs (NYSE, NASDAQ, LSE, HKEX, TSX, Euronet) | You’ll pay the same low US$2 commission on stocks. Plus a moderate 75 basis point currency conversion fee (which you can reduce to ~0.15% – see below) |
| Investors and traders wanting to build diversified multi-asset portfolios | Access to a huge range of tradable assets (crypto, futures, options and commodities) |
| People who don’t want to waste time researching stocks and learning technical analysis | You can save time with eToro’s best-in-class copy trading features |
| Who Should Avoid eToro? | Why? |
|---|---|
| Experienced high-frequency day traders | You’ll get more advanced tools and lower fees on Interactive Brokers |
| Investors interested in trading exotic assets (e.g., niche ETFs) | While eToro’s range of tradeable assets is vast, it focuses on mainstream (and adjacent) assets. For rare and obscure stuff, you’ll need Interactive Brokers |
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.
Above: eToro’s mobile app is sleek, intuitive and user-friendly. It gives you access to all of the desktop app’s features.
eToro At A Glance.
| Low fees to take advantage of | US$2 brokerage fee on stocks, zero on ETFs. No currency conversion fees for ASX stock and ETF purchases |
| Fees to watch out for | 75 basis point (roughly 0.75%) AUD/USD currency conversion fee (can be reduced significantly – see below) |
| Available exchanges | 17 exchanges, including ASX, NASDAQ, NYSE, LSE, HKEX and Euronet |
| Available securities | Trade stocks, ETFs, cryptocurrencies, indices, commodities and options. Plus CFDs on most of the above |
| Available crypto markets | 100+ coins |
| Support | Ticket, AI bot, Live human chat |
| Trading platforms | Proprietary web trading platform, mobile app for iOS and Android |
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.
Is eToro Good For Beginners?
Yes, for three reasons:
- Not intimidating. The intuitive interface and sleek account opening process mean novice investors can start trading quickly, and in a user-friendly environment.
- Social and copy trading features. While you won’t become a great investor by copying others (more about this shortly), you will save time and reduce exposure to your most significant portfolio risk – you.
- Access to 300+ Australian and international shares and ETFs.
- A $100,000 virtual cash account for beginners who want to play with Monopoly money before risking their own hard-earned cashola.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.
Is eToro Good For Expert Investors & Traders?
Yes and no.
It could be attractive for seasoned investors planning to take advantage of its Popular Investor program. It’s an opportunity to run something that resembles your own mutual fund under the eToro brand.
You earn additional income (up to 1.5% of assets under copy) by allowing other users to copy your trades.
Above: The Elite tier is where potential returns begin to add up.
Expert Tip.
Build a strong reputation and attract followers to make it worthwhile. For example, if you have 10 followers with a total of $500,000 of assets under management (AUM), eToro will pay you $625 per month.
It doesn’t seem like a lot, but it’s effectively free money – on top of your portfolio gains.
Just keep in mind that generating a consistent profit from trading is a skill that can take 2-5+ years to hone.
Important!
If I were to take advantage of the Popular Investor program, I’d treat it as a real side business, aiming to hit $5-10 million AUM. That would translate to about $6-12K in monthly commissions – enough to fully replace a lot of Australian salaries.
But is eToro a pro-grade day trading tool?
Hm, not really.
As an STP (Straight Through Processing) broker, eToro matches orders via internal liquidity providers.
While it’s generally considered fast – with most market orders filled instantly or within a few seconds during regular market hours – isn’t designed for professional day traders requiring sub-millisecond execution.
Interactive Brokers and Pepperstone beat it hands down.
But in an unusual move for a consumer-grade share trading platform, eToro offers a live Level 1 data feed (using a prop feed from NASDAQ Basic).
For free.
And in late 2025, it introduced public APIs. It offers offering programmatic access to:
- Market data: real-time prices, spreads, and execution rates.
- Portfolio data: P&L, open positions and trading history.
- Trading functions: order execution, cancellations, and stop-loss / take-profit management.
- Social tools: create or manage posts, watchlists and interactions.
The move is less about catering to hardcore algorithmic traders, and more about attracting developers to build an ecosystem of apps that extend the platform’s functionality.
Important!
It’s not yet clear how useful these APIs are. I will bring you the gory details as soon as they come to light.
How Does eToro Stack Up?
eToro is hard to pick at. The company has made huge improvements to its trading platform in recent years.
Even customer support – traditionally its Achilles heel – has seen massive upgrades at the end of 2025.
| Range Of Assets & Instruments | 4.5 |
| Ease Of Use | 5.0 |
| Commissions & Fees | 5.0 |
| Trading App | 5.0 |
| Trading Platform | 5.0 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 5.0 |
| Customer Service | 4.5 |
| Research Tools | 4.0 |
| Social & Copy Trading | 5.0 |
| Education Resources | 4.0 |
| OVERALL | 4.7/5 |
eToro’s Strengths In Detail.
Here is why eToro is one of the best share trading platforms in Australia.
1. Excellent Social And Copy Trading Features.
eToro’s social trading features are included with your account. They allow you to copy the moves of other traders and professional fund managers.
A. CopyTrader.
Imagine an experienced investor sitting behind their $25,000/year Bloomberg terminal.
They’re pouring hours into company research.
Reading AGM notes.
Above: Pietari Laurila has returned 31%, 23% and 32% for three consecutive years. But remember: past performance is not indicative of future results.
Studying balance sheets.
Watching technical indicators to decide how much of their own money to invest.
Now imagine being a fly on the wall, watching each of this expert’s trades.
With eToro’s copy trading features, you can.
The best thing is that you can find an expert investor whose strategy aligns with your risk tolerance and investment goals.
You get access to CopyTrader when you open your eToro trading account.
B. Smart Portfolios.
You can also take guidance from eToro’s professional analysts, who create Smart Portfolios for you to watch, study and copy.
Did You Know?
Think of Smart Portfolios as a diversified, low-maintenance way of getting exposure to major market trends and narrow industry segments.
Above: You can search through endless Smart Portfolios, then drill into each one to view its holdings and performance.
For example, you can pick portfolios that focus on:
- Early-stage AI technology.
- Fashion.
- APAC region.
This feature is available to all eToro users.
2. Huge Range Of Tradeable Assets.
eToro offers Australian investors and traders a vast range of investment options.
Yes, other major players like Interactive Brokers offer even more trading instruments.
But in my personal experience, more variety – beyond a certain point – translates to noise and indecision rather than profit.
Above: eToro’s new stock screener is excellent, and gives you at-a-glance view of hundreds of assets.
The law of diminishing returns is real.
You get open long and short positions on to the big Australian names (e.g., Big 4 Banks, Fortescue, Westfarmers), the usual international suspects (Apple, Uber), plus BTC, ETH, and a considerable range of altcoins.
| Asset Class | Examples | Position Type |
|---|---|---|
| Stocks | eToro gives you access to major exchanges (ASX, NYSE, NASDAQ, LSE) and across all major industries (e.g., finance, big tech). | Long, short, CFD |
| Crypto | The trading platform gives you access to 100 different coins, including popular options like Bitcoin, Ethereum, Solana and the one I really want to survive – Cardano. | Long, short, CFD |
| ETFs | Invest in ETFs that track the market, sector or industry, hybrid ETFs that mix asset classes, or even ETFs that hedge against indexes or industries. | Long, short, CFD |
Smallest stocks, altcoins and unusual currency pairs aren’t available, so if you’re yearning to invest in Pete’s Mining Co Pty Ltd, look elsewhere.
3. Low Fees.
eToro revamped its fee structure in late 2025.
You no longer have to cough up an eye-watering 150 basis point (ie., 1.5%) fee for the privilege of converting all of your Australian dollars into eToro’s working currency – USD.
Instead, you can now have an AUD trading account alongside your USD one.
To sweeten the deal even more, eToro is offering a 75 basis point discount on the AUD/USD FX fee until 30th June 2026.
Important!
But I’ll show you how to reduce that fee by up to 90% in the “eToro Fees In Detail” section below.
4. Customer Support.
eToro’s support also used to suck.
If you got stuck, your only option was to submit 24/5 tickets.
As of early 2026, you have a surprisingly useful 24/7 in-app AI bot that you can redirect to a live human agent.
The humans are available from midnight on Sunday until 10am on Saturday – pretty awesome.
And ticket support is still available for non-urgent matters.
Expert Tip.
Once you become member of the eTore Club by hitting a US$5,000 balance, you also get WhatsApp support with your personal account manager during Aussie business hours.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.
eToro’s Weaknesses In Detail.
Let’s discuss some of the less glamorous aspects of eToro.
1. Research & Technical Tools.
Above: eToro’s research tools have improved in recent years. You get charts, plus company financials and decent analysis.
First of all, a lot of people don’t realise that eToro has a fairly sophisticated range of charting tools buried in its interface, with more than 70 technical indicators and analyses:
- Moving averages.
- RSIs.
- Bollinger Bands.
- Ichimoku Clouds.
- Elder Ray Index.
And as I mentioned above, the platform gives you a complimentary Level 1 data feed.
Did You Know?
Even Direct Market Access brokers like Interactive Brokers delay data by 10-15 minutes – unless you pay extra for a data feed.
Even more tools become available once you hit the Silver eToro Club tier by depositing more than US$5,000 into your trading account.
Unfortunately, a lot of them are let down by the scope of available data:
- The longest time span you get in the charting tool is only 6 months.
- Charting isn’t available for all companies.
I believe this is an intentional strategy by eToro, as it encourages beginners to stick with copy trading.
However, I did raise an eyebrow when I discovered that once you deposit US$25,000 to hit the Platinum tier, you get access to Trading Central.
Expert Tip.
Trading Central is a pro-level toolkit that offers Expert Analysis (EAs), superior fundamental analysis tools, economic insights and a more comprehensive economic calendar.
If you need access to complex order types (e.g., Accumulate/Distribute, Market-on-Close, custom CWAP), eToro’s focus on simplicity will become a limitation.
It’s limited to basic market, limit, and stop orders.
2. Education.
Above: The eToro training academy contains modules on eToro basics, charting and the foundations of investing.
eToro provides an Academy full of videos that help users learn about trading and investing. They’re pretty good at explaining:
- eToro’s tools and features.
- Copy trading guides.
- Foundations of investing and trading.
- Latest market trends and news.
While eToro could certainly do better in this department, I won’t scold them too much for two reasons:
- Educational content on all trading platforms sucks. eToro’s is slightly better than average.
- I would be a fool to believe that eToro will teach me trading and investing strategies that lead to profits. Their financial interests are diametrically opposed to mine. The #1 rule of business is – never ignore conflicts of interest.
Important!
I recommend you learn the foundations of investing by reading Intelligent Investor by Benjamin Graham and Charlie Munger: The Complete Investor by Tren Griffin.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.
eToro’s Fees In Detail.
Let me demystify eToro’s (complex) fee and commission structure.
While some of them seem insignificantly small, they can accumulate and eat away a substantial chunk of your portfolio.
Here’s how eToro trading fees compare, starting with the least important.
1. Withdrawal Fee.
You’ll pay $5 to get your money out. It is the easiest fee to understand – and also the least important. (For some reason, it’s one that a lot of beginner traders worry about).
Above: Keep an eye on the RBA’s and Fed’s decisions, as well as company quarterly reports with eToro’s economic calendar.
2. Inactivity Fee.
If you don’t log in for 12 months, eToro will slap you with a $10/month inactivity fee – until you run out of capital or log in.
This fee isn’t consequential. Even the most defensive buy-and-forget investors are likely to log in and check their portfolio at least once per year.
Active traders will never have to worry about it.
3. Commissions.
eToro doesn’t charge commissions on ETFs. Stock trades cost US$2 per side.
Crypto attracts a (hefty) 1% commission. Plus a variable spread (between 0.5% and 3%, depending on the coin and time of day).
You must be logged in to check the most recent spread.
Important!
You’re paying (a lot) for the convenience of having your crypto and equity assets under one roof. If this is not important, you’ll get 10X lower fees with a dedicated crypto exchange.
Above: You can apply (up to X5) leverage while placing your order. Shorting is also available.
4. Currency Conversion Fee.
eToro finally abolished USD as its base currency.
Australians can now trade in AUD or USD, converting between the two whenever they need to.
This means you no longer have to pay a ridiculous 1.5% FX fee when depositing money to buy ASX stocks.
Important!
eToro is waiving ALL conversion fees on recurring investments until March 31, 2026. This is a great deal – you can build out a massive USD portfolio without paying any FX fees at all.
That’s right, you’ll pay zero in conversion fees when trading in AUD. Common sense, right? Yet, for so many years, eToro insisted we had to.
Trading on international exchanges (e.g., NASDAQ) still attracts an FX fee, but eToro is offering a 0.75% discount until June 30th, 2026.
Is that high or low?
High if you compare it with Interactive Brokers. About on par if you compare it with Selfwealth.
Good news? I figured out two secret hacks for reducing it to about 0.15%.
Enjoy.
Thankfully, eToro gives you significant discounts on this fee once you start upping deposit amounts. This happens automatically as part of your rise through eToro Club tiers.
| Level | Balance Required (USD) | Discount | Fee On AU$10,000 (with discounts) |
|---|---|---|---|
| Silver | $5,000 | 20% | $60 |
| Platinum | $25,000 | 40% | $45 |
| Diamond | $250,000 | 80% | $15 |
Above: Discount on the currency conversion fee. It’s not perfect, but it’s much better than paying full fare.
People with large amounts of trading capital will dodge the fee altogether by depositing more than US$250,000, while the rest of us mortals will have to rely on my other secret hack.
And that’s to use Revolut.
Revolut is a currency exchange app that beats eToro hands down when converting AUD to USD.
It charges a 0.15% fee, which is 10X smaller than eToro’s advertised spread. Yes, you read that right.
eToro’s Limits On Deposits And Withdrawals.
eToro limits the amount of money you can deposit into your account:
- Minimum deposit: At least US$50 for your first deposit and $50 for subsequent deposits. $500 minimum on USD bank transfers.
- Maximum deposit: Up to $10,000 daily using credit or debit cards and PayPal. Bank transfers don’t trigger any maximum daily limits.
Withdrawals have minimal boundaries:
- Minimum withdrawal: At least $30.
- Maximum withdrawal: No limit. Up to the amount of your available balance.
Is eToro Club Worth It?
Yes.
You get access to the eToro Club automatically – once your account balance hits US$5,000.
You then qualify for tiers, depending on how big your balance is. Each tier unlocks perks and discounts.
It gets noticeable above Platinum+ level, which you reach at US$50K. You get perks like:
- 3.25% interest on USD cash balances (apparently they’re rolling out the same perk on AUD balances later this year)
- Free WSJ subscription.
- Tickets to sporting events (e.g., Sydney FC games at Allianz stadium).
Is eToro Safe For Beginners?
Yes, eToro is considered safe from a compliance point of view due to the following four factors. However, I encourage you not to overlook the most significant risk factor on eToro – you.
Remember that share trading is not a short-term sport and carries significant risks.
Instead, seek personalised financial advice (this is not it) and trading education that teaches how to construct long-short asset portfolios, perform fundamental analysis and read market dynamics.
1. ASIC License.
In Australia, eToro is licensed and regulated by the Australian Securities and Investments Commission (ASIC), an AFSL (#491139) and operates via an Australian entity (eToro Australia Pty Ltd, ABN 46 621 283 369).
2. Data Encryption & 2FA.
eToro uses SSL encryption to secure all data transfers between users and the platform, while two-factor authentication prevents unauthorised access to your account.
3. Funds Segregation.
eToro can’t use your money to bail itself in the unlikely event of the company’s bankruptcy, as the company keeps trading capital segregated from its operating funds.
4. $1,000,000 Insurance.
eToro provides up to $1 million in insurance coverage for users if the platform becomes insolvent or the target of fraud.
This added layer of protection ensures that users’ investments are safeguarded against unforeseen circumstances.
Important!
Unfortunately, eToro doesn’t offer CHESS sponsorship, which some investors consider a risk factor.
What Are The Best Alternatives To eToro?
When considering alternatives to eToro in Australia, some of its main competitors include Fusion Markets, Interactive Brokers, Tiger Brokers and Vantage.
In different scenarios, eToro may perform better or worse than its competitors.
| Social trading and copy trading | eToro is a clear winner as it pioneered these features. The others are still playing catch-up. |
| Algorithmic trading on MT4 and MT5 | Interactive Brokers for selection of assets and rock-bottom commissions. |
| Trading CFDs only | Vantage or Plus500 are your best bets. |
How To Open An eToro Account?
To get started on eToro and start investing in stocks, ETFs and crypto, follow these five steps:
- Visit eToro’s website or download its mobile app and click the “Login” button.
- Fill in the registration form with your basic details (Name, email, phone number, etc).
- Verify your identity and Australian address by uploading a copy of your ID and proof of address (e.g. utility bill or bank statement).
- Deposit funds into your eToro account using your preferred payment method (I recommend using Revolut to minimuse currency conversion fees – see above).
- Choose the assets you want to invest in. You can browse different asset classes and/or use eToro’s search function to research specific assets. Place a market order (buy/sell at the current market price) or a limit order (buy/sell at a specified price).
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. See PDS and TMD.
Frequently Asked Questions About eToro Australia.
Here’s what beginner investors and traders usually want to know.
What about the negative reviews of eToro?
I’m sure you have seen them. Websites like Productreview.com.au are loaded with woeful, one-star feedback from eToro users. These reviews need to be placed in the right context.
While some have merit, it’s important to note that every Australian trading platform has a similar review profile.
| Trading Platform | Rating On Productreview.com.au (as of January 2026) |
|---|---|
| eToro | 1.7 |
| Pepperstone | 1.0 |
| CMC Markets | 2.3 |
| Interactive Brokers | 1.5 |
In my opinion, this has less to do with eToro and more with the nature of the retail trading industry.
Unfortunately, most people who enter the stock market lose money, with many blowing up their entire accounts. Online review platforms become their go-to channels for venting.
Important!
This is why I keep reminding you to take a long-term, cautious approach. Don’t expect quick wins, as these aren’t possible without taking excessive risks.
What are ‘pips’ and ‘points’?
A pip is used to measure an asset’s change in value(both gains and losses). It is the smallest increment in the value of an exchange rate.
Is eToro free?
eToro is not free. It charges currency conversion, inactivity, and withdrawal fees, which you must familiarise yourself with before trading.
Does eToro support MT4 and MT5?
No.
While eToro does not support MetaTrader 4 and 5, the company offers a proprietary, award-winning trading platform that is easy to use and suits both beginner and intermediate traders.
The platform offers more than 3000 tradable assets and analysis tools to help you make the best investment decisions.
Expert Tip.
MT4 and MT5, meanwhile, are trading platforms that are aimed at intermediate to advanced traders.
Does eToro pay dividends?
Yes. eToro will credit your account if you hold stock of a company or ETF that pays a dividend.
This applies to positions you open manually as well as positions in your SmartPortfolio.
How can I become a Popular Investor on eToro?
It’s not difficult, but you need to satisfy a few criteria:
- Avoid a single-month loss of 30% or more.
- Ensure no single holding represents more than 20% of your portfolio.
- Have at least 2 months of trading history.
- Have trading capital of at least $1000.
- Have one verified copier.
- Have at least $500 of Assets Under Copy.
Is eToro A Good Trading Platform For You?
eToro is a unique trading platform in the Australian market. It offers a substantial range of assets, a user-friendly UI and strong copy trading tools that save you time.
I don’t plan to become a sophisticated investor by spending years learning fundamental and technical analysis, so for me, eToro is a great option.
However, it also has some shortcomings.
Buying US shares attracts the 0.75% currency conversion fee – the most significant one.
It is reasonable, but consider this: for every $100,000 I deposit, I’ll pay eToro $750. And the same again to get it back. Because the return trip will be charged in USD, it will be slightly more.
Let’s ballpark it at $1750.
By the time my portfolio reaches $300,000, I’ve lost over $5,000 in currency conversion fees alone.
Gah.
That’s why I use the Revolut hack I explained above. That drops the fee on the same $300,000 portfolio down to $900. A huge difference.
Yes, it makes the process of depositing funds into eToro less streamlined – but for me, it’s worth it.
Let’s face it – few people who pick individual stocks make money.
Inexperienced traders who apply leverage are even less successful, with many blowing up their trading accounts within a few months.
And that’s where eToro’s copy trading features can help.
They allow you to delegate your investing decisions to full-time investors with strong records of performance. And yes, this doesn’t guarantee future returns.
Steven
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Social trading. eToro does not approve or endorse any of the trading accounts customers may choose to copy or follow. Assets held in your name. Capital at risk. See PDS and TMD. This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results. Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk. Does not suffice as basis for investment decision.
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