eToro Review Australia 2026

eToro quick facts

Trading costs and fees

eToro’s pricing model is different to most brokers in our 29-broker set, and it’s worth slowing down here so you understand exactly what you’ll pay.

Forex spreads

eToro charges no commission on forex. You pay through the spread. Spreads are markup-based: the broker adds a fixed pip-equivalent on top of the underlying market.

If you trade forex more than a few times per month, the spread cost difference between eToro and a Razor/RAW account at Pepperstone or IC Markets is meaningful. On a 1-lot EUR/USD position, you’re paying around USD 10 in spread on eToro versus around USD 5 equivalent on a RAW account. Multiply across a year of active trading and the gap is real. eToro sits in our May to June 2026 standard-account capture at an average of 1.50 pips across the eight pairs, 16th of the 21 standard accounts we benchmarked; it has no raw-spread account to compare against the RAW field. Both league tables are in the lowest-spread brokers in Australia guide.

Share investing costs

eToro charges Australian clients a flat USD 2 commission per real-share trade, introduced on 11 August 2024 and calculated in USD regardless of the currency the stock trades in. That covers US shares, UK shares, EU shares and ASX-listed shares. ETFs stay at 0% commission, and the USD 2 doesn’t apply to CopyTrader or Smart Portfolios positions, or to the opening side of Recurring Investments. At roughly A$3 a trade it still undercuts traditional ASX brokerage, which typically charges AUD 11+ per trade.

The catch is the USD account currency. When you buy ASX shares through eToro, the AUD-quoted ASX price gets converted into your USD account balance, and eToro applies its conversion rate at the point of trade. The commission is small, but the FX conversion is a real cost on every AU stock trade you place. If you’re investing primarily in ASX shares, a domestic Australian stockbroker will be cheaper for you.

For US shares, where the underlying currency is already USD, you skip the conversion drag and the flat USD 2 keeps eToro cost-competitive. What you actually own when you place that trade, a share or a CFD, is covered under Product range below.

Other fees AU traders should check

• Currency conversion applies on every AUD deposit (converted to USD) and every USD withdrawal back to AUD. eToro’s published conversion fees are tiered by funding method; bank transfer and PayPal are cheaper than card. Budget around 50 pips on the AUD/USD conversion as a rule of thumb.
• Withdrawal fee is a flat USD 5 per withdrawal regardless of amount. Bank transfer, card refund or PayPal all charged the same.
• Inactivity fee of USD 10 per month after 12 months of no login activity (not no-trade activity, but no-login). Applies until the account hits zero or you log in.
• Overnight fee (CFD positions) applies on leveraged positions held past 5 PM New York. Direction-dependent. eToro’s overnight rates are above-average compared to IC Markets, Pepperstone and CMC.
• Minimum trade size USD 10 on most instruments, USD 1,000 on shorting CFDs.

Trading platforms

eToro runs entirely on its own proprietary platform stack. There’s no MT4, no MT5, no cTrader, no TradingView trading integration. If you’ve decided MetaTrader is non-negotiable, eToro is not the broker for you. Look at Pepperstone or IC Markets.

eToro web platform

The web platform is a single-pane interface where forex, stocks, ETFs, crypto and indices all sit under one account view. The design is built for traders who want to look at a portfolio rather than a chart. Charting runs on ProCharts, which is powered by TradingView, with 100+ technical indicators and 50+ drawing tools. The charts themselves are TradingView-grade; what you don’t get is TradingView trading, since there’s no way to connect a TradingView account and execute through it.

The social feed is what sets it apart. Every instrument has a feed of what other eToro users are saying about it. Click through to any user’s profile and you can see their portfolio and performance history, then copy their future trades from there.

eToro mobile app

Probably the strongest mobile-first broker app in our 29-broker coverage. Touch ID and Face ID supported. Push alerts on price moves and copied trades. Full account management including deposits, withdrawals and customer support chat. iOS App Store and Google Play ratings consistently above 4.5/5.

eToro Money

eToro Money is a separate app, not part of the trading platform itself. It’s a debit card and crypto-wallet product where you can move funds between your trading account and a spending balance. eToro Money is rolling out by region; AU availability has been intermittent.

Copy trading and Smart Portfolios

This is where eToro’s product genuinely leads the industry, and the reason most AU sign-ups choose the broker. Social discovery is also what earns eToro the copy-trading slot in our beginner forex brokers in Australia rankings.

CopyTrader

CopyTrader lets you mirror the trades of any other eToro user. You select a trader, allocate a portion of your account balance (minimum USD 200 per copied trader, maximum across 100 traders), and from that point your account opens and closes the same positions in proportion as the copied user. You can stop copying at any time. Each copy relationship also carries a Copy Stop-Loss, set at 40% by default and adjustable between 5% and 95%, which automatically ends the copy if losses reach that share of the allocated amount.

The platform exposes detailed performance data for every user available to copy:

• Annual return for each of the past several years
• Maximum drawdown
• Win rate
• Average position duration
• Risk score (eToro’s internal 1 to 10 measure based on volatility)
• Number of current copiers and assets under copy

The trader being copied earns a Popular Investor commission directly from eToro, which means they have an incentive to attract long-term copiers rather than gaming short-term returns. That said, past performance still doesn’t guarantee future results, and we’ve watched Popular Investors blow up before.

Smart Portfolios

Smart Portfolios are eToro-curated thematic baskets you can invest in as a single position. Examples include the BigTech portfolio, the RenewableEnergy portfolio, the CryptoEqual portfolio. eToro rebalances them periodically. The minimum investment is USD 500 per portfolio and there are no management fees. Useful if you want diversified thematic exposure without picking individual stocks.

For more on copy trading platforms across our broker set, see our copy trading guide.

Trust and safety

Trust score: 7/10.

ASIC regulation and global licences

eToro AUS Capital Limited holds AFSL 491139 with the Australian Securities and Investments Commission. The AFSL has been continuously held since 2018, when eToro launched its Australian entity. In August 2023 ASIC commenced Federal Court proceedings against eToro AUS Capital Limited in its first design and distribution obligations action, alleging the CFD target market was too broad and the client screening test inadequate; ASIC said almost 20,000 clients lost money on the product between October 2021 and June 2023. The proceeding remains before the Federal Court and no findings have been made; ASIC is seeking declarations and pecuniary penalties, and eToro is defending the action. Because it is a current, unproven matter rather than a resolved one, we reflect it as a modest reduction in eToro’s trust score rather than a disqualifier (see how we score broker trust). Weigh it against the licence tenure when you assess the entity.

Worth understanding: the Australian offering runs through two regulated entities. eToro AUS Capital Limited (AFSL 491139) issues the CFD products, which covers anything leveraged or short. Non-leveraged real-share buys are issued by eToro Asset Management Limited as Responsible Entity of a managed investment scheme (ARSN 637 489 466). In practice that means your real shares don’t sit under the AUS Capital CFD licence, and you own the underlying security with voting rights and dividends intact.

Globally, the eToro group is regulated by:

• FCA, UK (Tier 1)
• CySEC, Cyprus (Tier 1)
• FSAS, Seychelles (Tier 3, used for offshore wholesale clients only)

Note: eToro USA Securities Inc is a separate US broker-dealer registered with FINRA and SEC. It’s a different legal entity from eToro AUS Capital Limited and AU clients onboard exclusively with the Australian entity.

Client money and negative balance protection

eToro holds retail client money in segregated accounts at an Approved Australian Bank, separate from the company’s own funds. ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. If a dispute with the broker goes wrong, AFCA can hear claims up to $1,263,000 and award compensation up to $631,500. The Compensation Scheme of Last Resort sits behind that with a $150,000 cap, but it excludes CFD trading losses, so it protects you against unpaid awards for misconduct, not against losing trades.

Two carve-outs matter here. Negative balance protection is a retail protection: take the Professional (wholesale) classification and you give it up along with the ASIC leverage caps and the margin close-out rule. And the protections above attach to the CFD account issued by eToro AUS Capital Limited; your non-leveraged real shares sit in the managed investment scheme run by eToro Asset Management Limited instead, which is a different structure with a different risk profile. For how this broker sits against the field, see our broker client-protection rankings and our explainer on the retail negative balance rule.

History and ownership

Founded in Tel Aviv in 2007 by brothers Yoni Assia and Ronen Assia. After a terminated US SPAC deal in 2021, eToro Group listed on the Nasdaq in May 2025 under the ticker ETOR. Pre-IPO backers included Spark Capital, BRM Group and SoftBank. Reported global user base above 30 million across 100+ countries. AU operations launched in 2018.

Australian context that matters:

• AFSL since 2018 with ASIC; Australia is one of eToro’s larger non-EU markets
• Visible advertising spend across AU markets (TV, digital, sports sponsorships)
• Member of AFCA for retail dispute resolution
• Segregated client funds at an Approved Australian Bank
• One current ASIC matter on file: the 2023 Federal Court proceeding over the CFD product’s design and distribution, still before the court with no findings made (covered under ASIC regulation above)

Public reviews

eToro holds a Trustpilot rating of 4.1 out of 5 from 31,822 reviews, which Trustpilot labels great, captured July 2026. The profile has been claimed by the broker since July 2016.

Common positives: ease of onboarding, copy trading product, strong mobile app. Common negatives: USD account currency conversions, slow withdrawal verification at peak times, customer support response times during US/UK overnight hours.

What other review sites say

eToro's iOS app rates 4.13 out of 5 from 4,666 ratings on the Australian App Store (July 2026), listed as eToro: Trade & Invest.

App Store AU

4.13

4,666 ratingsJuly 2026

Account types and minimum deposit

Account options for AU clients

eToro runs one retail account and it is denominated in USD, not AUD: every deposit and withdrawal converts, and a conversion fee applies each way, tiered by funding method. That is account structure, not a footnote, and it compounds for anyone funding regularly. Minimum first deposit is USD 50. There is no AUD-base option for AU clients, so the conversion is unavoidable rather than a setting you can turn off.

eToro doesn’t run separate Standard and RAW account variants like most CFD brokers. There’s a single account type for retail traders, with the same spread-based pricing applied across all instruments.

Australia also gets an eToro SMSF account, an AU-specific option for trustees who want to hold their eToro investments inside a self-managed superannuation fund.

The Professional account requires you to meet the Corporations Act wholesale client criteria (broadly: net assets of at least AUD 2.5 million, or gross income of at least AUD 250,000 in each of the last two financial years, certified by a qualified accountant). Qualifying unlocks materially higher leverage: 1:400 on forex, 1:100 on indices, 1:100 on commodities, 1:10 on shares and 1:5 on crypto. If you qualify and choose to onboard professionally, you give up retail protections including negative balance protection, the margin close-out rule and investor-compensation eligibility. That’s a meaningful trade-off for most traders.

Minimum deposit

USD 50 (approximately AUD 75 at current rates, depending on conversion fees applied at the funding step). One of the lower minimums in our coverage, lower than most RAW account brokers but higher than zero-minimum brokers like CMC, Pepperstone and IG. A USD 100,000 demo account is included and features in our demo trading accounts in Australia comparison, so you can trial CopyTrader before committing real money.

Funding and withdrawals

Deposit methods (AU clients)

The “$0 eToro fee” line means eToro itself doesn’t charge a separate deposit fee. The currency conversion still applies, and that’s where the cost sits. Bank transfer and PayPal tend to land at better effective conversion rates than card payments.

Withdrawals

Flat USD 5 fee per withdrawal, regardless of amount or method. Withdrawals must use the same source as deposits where possible (anti-money-laundering compliance). Processing time is 1 to 2 business days for card refunds, 2 to 5 business days for bank transfers depending on AU bank receiving timing.

The flat USD 5 fee is the bigger pain point on small withdrawals. On a USD 50 withdrawal you’ve lost 10% to fees alone before the FX conversion back to AUD applies. Plan to withdraw in larger lumps to amortise the fee.

Account opening

Account opening is fully online and AUSTRAC-compliant. You need one form of ID (driver’s licence or passport) plus a second document as proof of address (utility bill, bank statement). Most AU applications are approved within an hour. Our test team rated eToro’s onboarding 13/15, among the smoothest of our 29 brokers, alongside Plus500 and Pepperstone.

Product range

eToro covers around 3,000 instruments, and the shape of that range is unusual for this site: most of it can be held two ways, as a real asset you own or as a CFD you trade with leverage. The ownership side is the reason to be here. The CFD asset classes compared here run to six, and forex is the thinnest of them at roughly 50 pairs against CMC’s 330 plus.

Indices are a supporting class rather than a strength: 20 plus markets including the ASX 200, enough for index exposure alongside a share portfolio but well short of the multi-asset CFD houses. Commodities are the same story, with gold, silver, oil and gas plus a few softs. There is no fixed-income or treasuries coverage at the depth of CMC or IG.

Real share investing, not just CFDs

eToro’s differentiator in this cohort is ownership: 3,000 plus real shares across NYSE, NASDAQ, LSE, Frankfurt, Paris and the ASX, bought unleveraged and held in your name at a flat USD 2 per trade. The same universe trades as CFDs when you add leverage or short. Real share buys are issued by eToro Asset Management Limited as Responsible Entity, so you keep voting rights and dividends; the leveraged version comes from eToro AUS Capital Limited under the CFD licence. If you are weighing the two models, read CFDs versus owning shares first, then see how the AU field compares on share trading and share CFDs. The costs for both sit in the fees section above.

Crypto trading

The crypto side splits the same way. Buy without leverage and you own the real coin, held in your name and transferable to the eToro Money wallet. Add leverage and it is a CFD under ASIC’s 2:1 retail cap. The list runs to 70 plus assets including BTC, ETH, ADA, SOL and XRP. One thing to understand before you treat the two as interchangeable: real crypto is not an ASIC-regulated financial product in Australia, so the protections that cover the CFD do not cover the coin. Staking is available on eligible coins at up to 12% APY, with the revenue share set by your eToro Club tier. Our guide to crypto trading options sets out how the class compares across the AU field.

Leverage for AU traders

eToro splits leverage by product, not account: real share and real crypto positions are unleveraged holdings outside the CFD caps entirely, while every leveraged position is a CFD under the ASIC rules that follow.

ASIC caps retail CFD leverage at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. The caps come from a product intervention order that ASIC has extended to 23 May 2027, so they apply at every ASIC broker, not just eToro. Higher leverage exists here, but read where it comes from before you chase it. eToro quotes up to 1:400 on forex, 1:100 on indices and commodities, 1:10 on shares and 1:5 on crypto for wholesale clients, who qualify with net assets of at least AUD 2.5 million, or gross income of at least AUD 250,000 in each of the last two financial years, certified by a qualified accountant. Per eToro’s own licence list above, wholesale clients are served by the Seychelles entity rather than the ASIC one. That is not the same product with a bigger number on it. Taking that route means leaving the AFSL, and with it AFCA access and the ASIC client money rules. Confirm which entity your account sits under before you sign anything.

ASIC requires every CFD issuer to close out a retail client’s positions once account equity falls below 50 percent of the total initial margin on all open positions. The rule is set by the product intervention order and applies to eToro the same way it applies to every ASIC-licensed CFD issuer. Positions cannot be netted off against each other to reduce that figure, and a gapping market can close a position below the 50 percent level.

If you are weighing that trade-off, start with margin and leverage basics, then read our comparison of the best high leverage brokers.

Customer service

Live chat and email only. No phone support for retail clients. Premium tier members (eToro Club, based on account equity tiers) get faster live-chat queue priority and a dedicated account manager.

Average live chat response in our testing: under 4 minutes during AU business hours, slower during US/UK overnight (8 to 15 minutes). Knowledge of platform features: strong. Knowledge of AU tax treatment: agents correctly defer to “speak to your accountant.”

The lack of phone support is the main customer service negative. CMC, IG, Pepperstone, IC Markets and Plus500 all offer some form of phone line for retail clients. If you want to be able to call your broker during a fast market, eToro isn’t the right fit.

Research and education

eToro Academy is the broker’s education hub. Includes:

• Beginner courses covering shares, crypto, forex basics
• Webinars hosted by eToro analysts
• Weekly market commentary and analysis
• Glossary of trading terms
• YouTube channel

Research stack inside the platform:

• Analyst ratings on stocks (aggregated from major sell-side providers)
• TipRanks integration on share pages
• Crypto research and on-chain data
• Economic calendar
• News feed

Education content is solid for beginners. Less depth than the active-trader research stacks at CMC (Morningstar, Reuters, CMC TV) or Pepperstone (Trading Central, Autochartist). Fits eToro’s positioning: built for new traders learning the basics, not technical analysts running multi-screen setups.

How eToro compares to alternatives

For the full 2026 ranking, see our best forex brokers in Australia guide. The table below shows where eToro fits by trading priority.

Should you open an account with eToro?

Open an eToro account if copy trading or real share ownership is what you came for. CopyTrader remains the category leader and the flat USD 2 share trades cover 3,000 plus names. Skip it if you are a forex first trader, because 1.0 pip spreads, a USD base account that converts every AUD deposit, and no MT or TradingView support all point elsewhere; Pepperstone is the FX answer and CMC Markets the multi-asset one. A free demo with a USD 100,000 virtual portfolio covers the whole platform, so you can test CopyTrader before you fund anything.

Open an eToro demo → (affiliate link, see our advertiser disclosure)