eToro vs SelfWealth

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.

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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.

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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.

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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.