Toro is a popular broker established in 2007, offering Australian investors access to a variety of markets from their single account. Traders can trade stocks, ETFs, cryptocurrency, and CFDs (forex, commodities, indices, stocks, ETFs, and crypto). The key difference between eToro and its competitors is that they allow users to interact with other users through a social media platform, and even copy the moves of popular traders automatically. For this reason, eToro is a great place for new investors and traders to learn.
eToro Australia – General Information
Account currency: USD
Minimum deposit: $50
Leverage: 1:1-1:30
Spread: From 0.1 pips
Instruments: Currencies, Stocks, CFDs, Cryptocurrencies
Special Offers: Advanced Copy Trading Platform, Free US Stocks Trading
Margin Call / Stop Out: n/a
Deposit Methods: Bank Transfer, Credit card, Debit card, PayPal
Withdrawal Fee: $5
Products Offered: Stocks, ETFs, cryptocurrencies, CFDs (forex, commodities, indices, stocks, ETFs & crypto)
eToro Australia Pros and Cons
Like any other trading platform, eToro also offers plenty of opportunities for
all types of traders. The platform has pros and cons. And here are some of
the advantages and disadvantages of trading with eToro in Australia!
Pros
- $100,000 demo account for beginners
- Extremely user-friendly interface
- 0% commission on stock trading
- Huge number of currency pairs for forex
Cons
- A limited number of cryptocurrencies
- AUS to USD currency conversion fee
- Overly complex fee structure
How to Trade – eToro crypto trading
eToro crypto Australia is a growing market and knowing exactly how to trade with this online broker is crucial for your trading career to be a success. Our team of experts has taken a look at the entire process themselves and put together this section of the article to share their findings. Firstly, you will need to open an eToro crypto account Your personal data will then need to be inserted and the terms and conditions double-checked. You will then need to agree to these terms and conditions and complete your account creation by clicking the signup button.
Accounts will then need to provide confirmation of residence which will cater the entire service offer to your needs. Identity verification is then required before any account can transact within the service. This can usually be done with a passport or national ID card. You will then need to wait until the verification process is complete and determine which payment method you will be used to transact with eToro. The guidelines listed on the eToro website should be followed closely when opening a new account. Once you have made use of one of the many payment methods available, you will have funds within your account to trade as you see fit. Be sure to head to our XM.com review to see just how their process compares to eToro’s.
eToro reviews for Australia
- Social trading makes eToro a fun place to trade. You can view, post, and comment on the latest trading news or speculations with others in the eToro community, and the best feature is Copy Trader. With Copy Trader, you can automatically copy the trades of any top-performing trader you like, replicating their trading in your portfolio. .
- eToro offers a huge range of investment markets, so you will definitely find some that are suited for you. They have 17 stock markets from around the world, including the most popular NASDAQ and NYSE, 49 forex trading pairs, indices, commodities, and even 30 cryptocurrencies, which are not commonly found on other brokers.
- You can trade CFDs on eToro, with leverage of x30 on major currency pairs, x20 on gold and major indices, x5 on shares, and x2 on cryptocurrency. The cryptocurrency CFDs are especially useful because it means you can go short and make money in that way, which is not possible on regular cryptocurrency exchanges. Learn more about etoro review Australia from here.
What is Copy Trading?
In short, copy trading is a feature that eToro offers so that new investors can take advantage of the success of more experienced stock market players. You can make the exact same trades that another stock market investor does by using the platform to mimic their sales, purchases, and more.
Of course, there has to be enough of a particular share or contract in order to mimic the trade in the first place, but it’s still an innovative and interesting feature.
