Quick-Take: eToro is the the superior multi-asset trading platform that offers greater variety and much lower fees. With eToro you can trade Stocks, Cryptocurrencies, ETFs and Commodities like Gold & Silver for zero fees.
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eToro is a major crypto and stock trading exchange, with its headquarters in Cyprus. The exchange gives its users access to over 3,000 assets, including cryptocurrencies and stocks. eToro is also highly reputed as a social trading exchange the world over.
Stake on the other hand is a stock trading platform that gives Australians access to U.S stocks. Based in Australia, Stake customers have access to more than 6,000 U.S stocks. Both platforms offer commission-free trading services.
We will compare eToro vs Stake in this review to see which is better for crypto and stock traders in Australia. The table below shows a summary of the differences.
0.7% for AUD deposits
25 Global Stock Markets, Cryptos, Commodities, ETFs
eToro is the most feature-rich trading platform in Australia because they offer the widest variety of markets, cryptocurrency trading & wallets, crypto staking and much more. Their platform also allows you to use leverage of up to 10X when trading their available markets. This means you can lever $1,000 AUD to $10,000 AUD if you want to size up your trade.
Stake on the other hand is a little more simple. Their platform only offers Australian & US Stocks and a few ETFs. As at time of writing, their platform does not support cryptocurrencies, foreign markets, commodities and bonds or options.
Winner: eToro is the more feature rich trading platform compared to Stake.
Available Markets and Assets
eToro supports trading of stocks, CFDs, ETFs and cryptocurrencies. This gives Australian users the privilege to have several instruments to trade rather than just stocks. The fact that it supports cryptocurrencies also makes it a one-stop destination for both 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 is the largest multi-asset brokerage in Australia that supports over 30 different markets.
eToro vs Stake Fees
eToro charges zero commissions to trade on their platform. The only fee charged is to convert AUD to USD on their platform when you deposit AUD from your bank account. This fee is fixed at 50bps, or 0.5%.
Stake also charges zero commissions and a FX fee to deposit AUD into USD on their platform. Theirs is slightly more expensive at 70bps, or 0.7%.
Winner: eToro wins again with 20bps lower fees. They also offer a wider variety of AUD deposit options like Debit Card/Credit Card or PayPal.
eToro is one of the most reputable social trading platforms in the world for both cryptocurrencies and stocks. This means it allows newer and less experienced traders to “copy” the trades of more experienced ones. They are then able to make money in the process while learning how to trade better.
Stake does not provide this learning opportunity for traders, which means only experienced traders are likely to trade profitably on the platform.
Winner: eToro is the only platform that offers a copy-trading feature that enables new investors to follow the thoughts and trades of top-tier traders.
Verdict: eToro or Stake?
It is clear when looking at the features and factors assessed that eToro is the superior trading platform for Australian investors. They offer lower fees, more markets and a bigger and better user experience for Aussie's looking to take advantage of financial markets.