Exchange Review

eToro vs SelfWealth

Quick-Take: The eToro platform is better than SelfWealth because they offer a wider variety of assets, lowers fees and cryptocurrency trading.

Verified Author

eToro and SelfWealth are two of Australia’s most popular share brokerage platforms for retail and sophisticated investors to get access to global markets. Both trading platforms are highly regarded for their sleek user interface, low fees and fast AUD deposits for Australian traders.

This eToro vs SelfWealth comparison will help you decide which platform is best for your needs as an investor, or a trader.

Exchanges
eToro vs SelfWealthSelfWealth vs eToro
Trading Fees
0%
$9.50 per trade
Available Markets
25 Global Stock Markets, Cryptos, Commodities, ETFs
Australia & US stocks only
AUD Deposit Options
Bank Transfer, PayID, PayPal, Credit Card or Osko
Bank Transfer only
Crypto Staking & Trading
Aussie & US Stocks
24/7 Local Support
Overall Best

Table of Contents

eToro vs SelfWealth: Available Markets

eToro is the largest multi-asset brokerage in the world and offers the widest variety of tradable assets. Their platform gives Australian investors access to the best Global Stocks, Cryptocurrencies, Bonds, Options, CFDs, ETFs, Commodities and more. You can even stake cryptocurrency on their platform to earn up to 10% in passive income.

SelfWealth offers a slightly smaller range of markets between the Australian Stock Exchange and the US Stock Exchange. These include the top ordinary shares, ETFs, debt securities and treasury notes.

The eToro Trading Dashboard.

eToro vs SelfWealth: Trading Fees

eToro and SelfWealth offer starkly different fee structures, with eToro coming out as the cheaper and more trade-efficient option. As it stands, eToro offers zero fees on trading across any of their available markets including stocks and crypto.

SelfWealth on the other hand charges a $9.50 flat fee on any trade made with any size. This means that even if you buy $1,000 worth of stocks or crypto, you are charged nearly 1% of your total parcel size.

SelfWealth fees and pricing disclosure.

Customer Service

When it comes down to customer service, we would argue that SelfWealth has the advantage here as the truly local share brokerage platform. We tested both response times and found that both eToro and SelfWealth were within 24 hours, however SelfWealth was definitely a few hours faster on average.

This could be because SelfWealth’s headquarters are based in Melbourne, Australia - whereas eToro is a global trading platform.

Final Verdict

Overall it is clear that eToro is the superior platform compared to SelfWealth for Australian investors. It offers a wider variety of features, and lower fees across all available asset classes.

The main downside is that SelfWealth does offer slightly faster customer support than eToro.

Visit eToro

Author Bio

Timothy Wilson was a former Prop Trader for a notable crypto trading fund based in Hong-Kong. He built BCA after deciding he wanted to focus his career on educating new users about Crypto and DeFi.

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