eToro vs Stake

Features

eToro is Australia's most feature-rich trading platform with the widest variety of markets. The platform offers staking services, a virtual trading platform with $100k worth of paper money, a copy trading feature and more. eToro also supports leverage of up to 10X when trading their CFD contracts. This means you can get $10,000 exposure with a $1,000 trade.

Stake has a more simple platform that only offers trading on Australian & US Stocks and a few ETFs. At the time of writing, their platform does not support cryptocurrencies, foreign markets, commodities and bonds or options.

Winner: eToro offers its clients a wide range of services and products, unlike Stake, which is one-dimensional.

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Pricing

eToro charges zero commissions to deposit fees on the platform and a small $5 fee to withdraw AUD to your bank account. The cost to buy or sell a cryptocurrency on eToro is 1% of your total transaction amount, but there are zero fees to trade any other asset like stocks or ETFs.

Stake also offers free AUD deposits, but it has a foreign exchange fee. The brokerage fee is 0.7%.

Winner: eToro has significantly lower fees than Stake as it doesn’t charge any commissions on stocks.

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AUD Deposit Methods

eToro offers an extensive range of AUD deposit options to cater to Australian investors. The platform accepts various payment methods, such as bank transfers, credit and debit cards, PayPal, POLi payments, Skrill, and Neteller. Although most deposit transactions are processed immediately, bank transfers may require up to 2 business days for completion.

Stake accepts Australian Dollar deposits via POLi, ETF, Credit/Debit Card, Apple Pay and Google Pay.

Winner: eToro accepts slightly more deposit methods than Stake does.

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Supported Tokens

eToro supports over 80 cryptocurrencies, 3000+ stocks, 20 indices, 32 commodities, 52 fiat currencies and 300 ETFs. This gives Australian users the privilege of having several instruments to trade rather than just stocks. eToro supporting cryptocurrencies makes it a one-stop destination for crypto and stock trading.

Stake provides access to only U.S stocks. Although it was built mainly for Australians, it does not support cryptocurrencies which is a major factor in our comparison.

Winner: eToro provides Aussies access to the most diverse range of assets out of any exchange globally with thousands to choose from.

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Security

eToro upholds adherence to regulations across 100 countries, including Australia. It follows the standards established by AUSTRAC and ASIC and complies with Australian regulations. Client's assets are securely held in high-level financial institutions. Established in 2007, eToro has successfully prevented cyber attacks and maintained airtight security.

Stake is regulated and registered in Australia by ASIC. It is considered a relatively safe exchange, and there have been no reports of any hacking incidents.

Winner: eToro is one of the safest and most trustworthy exchanges in the world and has been operating for 15 years with no security issues.

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Customer Service

eToro’s support team is reachable through live chat, email, phone, online form, and social media platforms like Instagram, Twitter, YouTube, and Facebook. It has achieved an excellent 4.3-star rating from 20k reviews on Trustpilot. It receives frequent praise for its prompt and efficient customer care team. 

Stake does not have any support options available on its website but does respond to email inquiries.

Winner: eToro has better customer service channels with live chat, email and phone support available.

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Conclusion

To recap, eToro is the superior trading platform for Australian investors. The exchange has lower fees, more markets and a better user experience for Aussies looking to take advantage of financial markets. If you’re interested in learning more about the platform and its various features, you can visit our comprehensive eToro Review.