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Is eTORO one of the best Australian Forex Brokers? We conducted an in-depth review in November 2018 to find out the answer and bring it to you!


Another complete and unbiased Review from Engine Forex

eToro is a social trading and multi-asset brokerage company that was originally founded in the year 2006 in Tel Aviv, Israel, under the name RetailFX.

In 2010, eToro released the eToro OpenBook social investment platform, which facilitates copy/social trading. Since its launch, the platform has generated a significant amount of interest and attracted millions of users.

eToro's headquarters are located in Tel Aviv, Israel. Additional subsidiaries are registered in the UK and Cyprus. In Australia, eToro operates through a partnership with the top-notch true ECN giant, IC Markets.

Today, over seven million traders, investors and copy traders hold accounts with eToro, making it one of the world's leading Forex and social trading brokers.


eToro

Our Rating

The overall rating is based on review by our experts

8.3 4.2 1
  • Reliability 9 / 10
  • Spread 6 / 10
  • Customer Service 9 / 10
  • Offers 8 / 10
  • Speed of Execution 9 / 10
  • Uptime 9 / 10

This post is also available in: deDeutsch itItaliano

eToro - Overview

Trading Conditions

  • Max Leverage
    400:1
  • Platform
    eToro
  • Min Deposit
    $200
  • Spread
    From 2.0 Pips
  • Cuts out Dealing Desk
    Yes

Methods of deposit and offers

  • Deposit / Withdraw
    VISA , MasterCard Diners Club PayPal Skrill Neteller Webmoney China Union Pay giroPay Bank Transfer
  • Welcome offer
    Up to $200
  • Rebates Engine Forex
    Coming soon!

Extras

  • Crypto
    Bitcoin Ethereum Litecoin Dash Ripple Bitcoin-cash Neo
  • Headquarter
    Limassol

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT eTORO

In Summary


  • CySEC & FCA regulated
  • Social Trading & multi-asset broker
  • No dealing-desk intervention

Licensed and registered with the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA), eToro provides a safe and secure trading environment for all its clients.

Advanced Secure Socket Layer (SSL) technology is in place to guarantee high web protection and security.  

All monies are held safely and securely in trust accounts with renowned banks.

Spreads Comparison

eTORO
60
PEPPERSTONE
100
THINK MARKETS
80
OANDA
60
IC MARKETS
100
XM
100

CHARGES AND MARGINS AT eTORO

In Summary

  • Spread from 2.0 Pips
  • STP/NDD broker
  • Up to 400:1 leverage
  • Free Copy Trading

As is the case with most brokers, with eToro clients don't pay a commission as such but a spread mark-up.

eToro is a STP/NDD (straight-through processing/no dealing desk) broker that does not charge any additional fees or commissions – the spread markup is the only fee that's applied. Copy trading is also free. eToro's commission comes from the bid/ask spread of the trades you place and eToro guarantees that spreads remain the same, regardless of whether you are copying someone or trading manually.

As with most brokers, margin requirements vary depending on the trader, accounts and financial instruments used; to give an example, eToro offers margins of up to 0.5% on Forex products.

TECHNOLOGY

In Summary

  • Reliable trade execution
  • Iconic SocialTrader feature
  • eToro trading platform
  • CopyFunds for investors

Next to eToro’s easy-to-use and ‘all-inclusive’ trading platform, its ‘CopyTrader' feature is the most iconic feature. CopyTrader is an online trading community that allows all individuals within the community to see what people are trading in real time and what profits or losses they make. These trading activities can be copied and applied to your own portfolio at the click of a button. This feature, and the fact that a huge eToro social trading community has already formed, has enabled the masses to trade and apply the strategies of other members of the community with simplicity and ease.

The eToro platform, Trade Markets, can now be accessed from any device. Both novice and experienced traders enjoy the intuitive feel of the platform, which is very user-friendly and allows users to view the portfolios of other traders, get general access to all markets, or even invest with eToro’s newest feature ‘CopyFunds’.

eToro revolutionised social trading with their CopyTrader feature. CopyFunds gives further access to financial instruments that have been bundled together in one product. This allows any type of trader to conveniently invest in these funds.  

Execution of Speed Comparison

eTORO
90
PEPPERSTONE
100
THINK MARKETS
90
OANDA
80
IC MARKETS
100
XM
90

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF eTORO's CUSTOMER SERVICE AND CLIENTS

In Summary

  • Limited support options
  • Global presence with large client base
  • Real or Demo account option

With millions of users worldwide, eToro has become one of the leading online trading providers and the top go-to broker for social trading. The social trading platform, network and community shares a wealth of insight and information, and beginners, in particular, can learn a lot through networking with more advanced traders. Advanced and professional traders can benefit from other traders following their strategies.

In terms of customer support, eToro lacks a live service centre team. No live chat or telephone service is offered, and even though a large help and FAQ section is provided, users or potential clients cannot make instant contact. Email support may take up to 48 hours.    

Upon sign-up, clients have a simple choice to make: create a real or demo account. Once a real standard account has been created, a minimum initial deposit of $200 is required to start trading or copy-trading. Maximum leverage on a standard account is 400:1 and spreads start from 2 pips.

Clients can trade more than 1000 financial instruments including 40+ currency pairs, indices CFDs, commodities and popular cryptocurrencies.   

Deposit and withdrawal options include VISA and Master credit/debit cards, PayPal, Neteller, Skrill, WebMoney, Giropay, Wirecard, Yandex, China Union Pay and wire transfers.

FOREX AND OTHER TRADING OPTIONS AT eTORO

In Summary

  • 47 currency pairs
  • 9 cryptocurrencies
  • 12 indices CFDs + 6 commodities
  • 1000+ stocks & 59 ETFs

eToro offers 47 currency pairs, 6 commodities, 12 index CFDs, 59 ETFs, 1000 stocks and 9 cryptocurrencies.  

Traders can choose to trade the above-mentioned options on some of the world's top markets such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index, Germany 30 and China 50.

The cryptocurrencies that can be traded at this point of time are Bitcoin, Ethereum, Litecoin, Ripple's XRP, Dash, Ethereum Classic, Bitcoin Cash, Stellar and Neo.

eToro offers leverage of up to 400:1 (on Forex), micro-lot trading starting from 0.01 and spreads from 2 pips. Clients can start trading or copy-trading with an initial deposit of between $200 and $500, depending on the trader's region of origin.

SPECIAL FEATURES OF eTORO

In Summary

  • Ground-breaking  CopyTrader
  • Large selection of tradable instruments
  • Leverage up to 400:1
  • CopyFunds for investors

eToro is the first global marketplace for people who wish to trade Forex, commodities, indices, stock CFDs and cryptocurrencies in a simple and transparent way. 

Its ground-breaking CopyTrader application facilitates simple copy trading ‘with a single click'. Users can browse through millions of trader portfolios and allocate funds to copy-trade a style of trading they like. This revolutionary feature facilitates the diversification of funds based on other user’s portfolios and has contributed to eToro rise to become one of the leading social trading providers on the globe.

CopyTrader enables clients to copy other investors automatically and manage one’s copy trading activity just as one would manage investments in any other market.

With CopyFunds, clients can invest in CFD stocks, commodities, ETFs and cryptocurrencies that are bundled together under one chosen market strategy.

eToro also offers a Trading Academy, eCourses on trading, live webinars, and its own blog to educate both novice and experienced traders.

Max Leverage Comparison

eTORO
400:1
PEPPERSTONE
500:1
THINK MARKETS
400:1
OANDA
100:1
IC MARKETS
500:1
XM
500:1

IN CONCLUSION

eTORO is the world's leading Social Trading broker, fully licensed and regulated, with a large client base and unique features. Both, traders and investors, can benefit from using eToro's unique SocialTrader and CopyFunds features which have revolutionised the world of online trading and investing. Overall, their trading environment, own proprietary trading platform and massive selection of tradable instruments make them a great choice for novice and experienced traders alike.