Introduction
For Australians interested in trading and investing, eToro is a reputable, regulated platform that's available in over 140 countries, including yours. This overview outlines some key things you need to know about eToro, with particular attention to Australian investors, before you kickstart your trading journey.
| 🇦🇺 Accepts Australian Traders | Yes |
| 💰 Minimum Deposit | $50 |
| 🛍️ Market Types | Stocks, Commodities, Currencies, Indices, Crypto, ETFs |
| 🏛️ Regulation | Australian Securities & Investments Commission (ASIC) |
Are you an Australian interested in trading? Begin your eToro journey by registering here today!
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Is eToro Regulated in Australia?
Yes, eToro is a fully regulated trading platform in Australia. eToro AUS Capital Limited, the corporate arm operating in Australia, is supervised by the Australian Securities & Investments Commission (ASIC), granting it the ability to provide certain financial services.
Regardless of whether you're based in New South Wales, Victoria, Tasmania, Western Australia, South Australia, or Queensland, as long as you're an Australian citizen, of legal age and residing in Australia, you're eligible to open an account.
Does eToro Have an Office in Australia?
eToro maintains a physical office in Sydney, operating under the name eToro AUS Capital Limited. The exact location is:
eToro AUS Capital Limited
Level 3/60 Castlereagh Street
Sydney NSW 2000, Australia
Interested in starting your eToro journey in Australia? You can do so right away.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro Australia Phone Number
eToro's dedicated customer service is just a toll-free call away at 1-800-778-439 for their Australian clients. Other ways to reach them include:
- Support ticket: After logging into your account, you can raise a case using your registered email address.
Opening a new ticket with eToro - Live chat: This service is available 24/5 (weekdays only).
eToro live chat - Email: You can directly send them a message to [email protected]
These channels can be accessed via the Customer Service Center page or by visiting etoro.com/customer-service.
Deposit Options for Australians
Australian investors have multiple options to fund their eToro account:
- Credit/debit cards
- PayPal
- Bank transfer
- POLi
Bear in mind that all transactions are processed in USD. Any deposits in AUD will be automatically converted to USD, incurring a small conversion fee.
Minimum Deposit for AU Residents
A first-time deposit of $50 (around 75 AUD) is needed to start trading. For subsequent deposits, the same minimum amount applies. However, bank transfers require a minimum of $500.
Fees for Australia Clients
eToro's fees for Australian traders are consistent with those for other countries. For instance, there's an overnight fee for holding a CFD position open over the weekend. Moreover, if your eToro account remains inactive for a year, a monthly charge of $10 will be levied as an inactivity fee.
Withdrawal Fees for AU Traders
When you're ready to withdraw funds from your eToro account, remember that the minimum withdrawal amount is $30. Each withdrawal transaction is subject to a fixed fee of $5, no matter how much you decide to withdraw - whether it's $30, $100, or $500. Enjoy the simplicity of a flat-rate fee per transaction.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Trading Australian Stocks on eToro
eToro offers a selection of Australia's leading companies across various sectors like financial services, telecoms, mining, consumer goods and real estate. There are over 120 ASX-listed stocks and these include the following:
- BHP Group Limited (BHP.ASX)
- Qantas Airways Limited (QAN.ASX)
- National Australia Bank Limited (NAB.ASX)
- Macquarie Group Limited (MQG.ASX)
- Commonwealth Bank of Australia (CBA.ASX)
- Telstra Group Ltd (TLS.ASX)
- Westpac Banking Corporation (WBC.ASX)
- Rio Tinto Group (RIO.ASX)
Please note, trading in actual stocks is only available without leverage. Leveraged stock positions are treated as CFD or contract for difference.
AU Stocks - Did You Know?
All stocks listed on the Australian Stock Exchange have .ASX at the end of their symbols. This helps you identify them as Australian stocks when using the eToro platform.
Registration for AU Residents
The registration page for Australian residents is similar to that for traders from other countries. You'll first be asked to enter your preferred username, email, and password.
It's important to agree to the financial terms, disclosure statement, and services guide of eToro AUS and eToro Service (by eToro AM). This is the entity regulated by ASIC, so confirm that this is the right company.
Top eToro Australian Traders
The eToro Popular Investor program features numerous successful Australian traders, some of whom have been active on the platform since 2016:
| Trader | Username | Popular Investor Level |
|---|---|---|
| Rhys Adams | @adams302 | Elite ★ |
| Sharon Connolly | @sharonconnolly | Elite ★ |
| Isiah Pila | @isiahjames | Champion ★ |
| Hao Ning Ng | @haoning | Champion ★ |
Below is a graph to compare their performance from the years 2019 to 2022. Take note that some users have started only trading one or two years ago, so their graphs for the years 2019 and 2020 are empty.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro Australia Stats
As per eToro's Q4 2022 Investor Update (March 2023), out of 2.8 million funded accounts, 13% belonged to the Asia Pacific region, which includes Australia, as of December 31, 2022.
Frequently Asked Questions (FAQ)
Can Australians trade on eToro?
Yes, eToro welcomes Australian residents and citizens to its global online trading platform.
What are the fees on eToro for Australians?
The fee structure is consistent across countries. A $5 withdrawal fee applies to all, regardless of country.
How do I open an eToro account in Australia?
Visit www.etoro.com, click "Join Now", fill in your details and follow the verification steps.
What documents do I need to verify my eToro account in Australia?
You'll need a government-issued ID, proof of address, and potentially a selfie holding your ID or a specific code.
What can I trade on eToro if I am from Australia?
You can trade a variety of assets including forex, commodities, stocks, indices, crypto, and ETFs. There are over 3000 available instruments on the platform.
Does eToro offer demo accounts in Australia?
Yes, free demo accounts are provided for practice after you open a live account.
How can I find successful Australian traders to copy on eToro?
Use the CopyTrader feature on eToro, and filter by country, trading style, risk score, etc.
What trading platforms does eToro offer in Australia?
You can access eToro's web-based platform or mobile app (compatible with Android or iOS) in Australia.
Hey there, Aussie mate! Ready to take your trading to new heights? Sign up with eToro right here!
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.