eToro Key Features
The eToro platform is widely regarded to be the best multi-asset brokerage in the world as it offers thousands of assets spanning six categories. It is one of the few traditional brokers to offer both Cryptocurrency trading and staking services through its platform. Refer to the below list for a high-level overview of the key features of eToro:
- 6 Asset Classes: Buy and sell over 3000 assets which include Crypto, Stocks, ETFs, Fiat Currencies, Indices & Commodities.
- Multiple Markets: Invest in 25 Global Financial Markets, including the ASX (Australian Securities Exchange), NASDAQ, NYSE, HKSE, LSE and ten more.
- Copy Trading: Follow the top investors vetted by the eToro community and automatically mimic their trades.
- Crypto Staking: Stake Ethereum, Cardano & Tron on the platform for high yields.
- Virtual Trading Platform: A paper-trading platform where you can open positions with virtual money up to $100,000 to practise trading without risking capital.
- CFDs: Trade contracts-for-difference and get access to up to 10x Leverage to go long or short on select assets.
- Regulated & Licensed Globally: Regulated in over 140 countries, including Australia, by the Australian Securities and Investments Commission (ASIC).
- Social Networking Feature: An in-built community platform where users can directly discuss trades, strategies and investment opportunities on the exchange.
- 30+ Languages: The eToro website and app can be used in over 30 languages.
- 24/7 Multilingual Customer Support: Get instant support via Live Chat, email and phone.
- Mobile App: Access the eToro platform on the go with its mobile app that offers the same functionality and UI of its web platform.
eToro does not currently charge broker fees or commissions on stocks or ETFs. However, it does charge a 1% flat fee when buying or selling any Cryptocurrency. This fee will be added to the market price and will not be highlighted as a fee when opening a position.
The exchange offers free AUD deposit methods, which include Credit/Debit cards, PayPal, Bank Transfers, POLi, Neteller & Skrill. There is a $5 fee on all fiat currency withdrawals. There is only one additional cost, a $10 monthly admin fee if your account is inactive for over 12 consecutive months.
eToro currently supports 80 Cryptocurrencies, and this number is regularly increased as the exchange introduces new tokens. Users can access the most popular tokens, such as Bitcoin, Ethereum, Cardano & Ripple, and many more. In addition to Crypto, the platform offers over 3000 stocks, 20 indices, 27 commodities, 49 fiat currencies, and 300 ETFs.
The eToro app is available to download on both Android and iOS devices. All current features offered on its desktop version are available on the mobile app, such as trading services, copy trading, crypto staking and contacting support. The app is ideal for less-experienced traders, while more experienced traders may find it lacking in certain areas, such as access to charting tools.
However, the clean layout of the trading dashboard comes over well on the smaller screens of mobile devices. The eToro app is currently ranked #78 overall in the Finance category and rated 4.3 stars from 1.9K reviews on the Apple app store. On the Google Play store, it is rated 4.1 stars from 124K reviews.
Security and Regulation
eToro is a highly secure exchange with over 30 million registered users from over 140 countries. It's regulated by financial authorities in Australia, Europe and the US. In Australia, it's licensed by the Australian Securities and Investments Commission (ASIC) under the trading name eToro AUS Capital Pty Ltd. It's the holder of an Australian Financial Services Licence (number 491139).
Its clients’ funds are kept secured in tier 1 banks and is insured. eToro has employed advanced encryption protocols, two-factor authentication (2FA), and biometric login features to ensure the safety of personal information and funds. Furthermore, the exchange has been operating for over 15 years and has never been subject to a cyber attack, proving it is battle tested and secure.
Customer Support Options
The eToro customer support team is multilingual and available 24/7. Currently, you can contact customer service via Live Chat, Email, Phone, or by lodging an online ticket. Users can also access the FAQ-style Help and Education section on the platform. Additionally, the team can be reached via the following online communities; Facebook, Twitter, Instagram, YouTube and LinkedIn.
eToro is an excellent choice for investors of all experience levels in Australia. It offers a great trading platform, a user-friendly interface, and a wide range of investment options. Its robust security features and 24/7 customer support also make it a trustworthy and reliable exchange so clients can feel confident investing their funds.