eToro Review

Founded in 2007, broker eToro has more than 13 million users in 140 countries worldwide — and the Australia is now on that list. eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets. The company has offices in Sydney (ETORO AUS CAPITAL PTY LTD), London, Cyprus, Tel Aviv and other cities.

eToro’s vision is to open the global markets for everyone to trade and invest in a simple and transparent way. eToro provides investors, from beginners to experts, with a comprehensive crypto trading experience, on a powerful yet user-friendly platform. eToro offers a wide variety of the world’s most popular cryptocurrencies and is constantly making more coins available for trading.

eToro Australia Pty Ltd is overseen by the Australian Securities and Investments Commission. For Australian clients Gleneagle Asset Management Limited, holds a Australian Financial Services Licence and is a corporate authorised representative of eToro Australia Pty Ltd.

Pros

  Straightforward fee structure

  Demo Account

  User Friendly App

  Copy Trader Feature

  Excellent Support

Cons

  Limited number of Crypto Asset

  Minimum deposit of $200

Account Registration and Verification Process

Account registration and verification process steps as below

Step I - Visit eToro Website

Step II - Click on join now.

Step III - Fill your detalis in to create an account.

Step IV - Once you fill in your details and click on create an account, you will be presented with dashboard as below.

Step V - Click on Complete Profile.

Step VI - Click on Continue.

Step VII -Verify your Profile.

Step VIII - Click on Complete Verification.

Step IX - Verify your Phone.

Step X -Verify your identity.

Step XI -Verify your address.

Step XII -Identify your Tax File Number.

Step XIII -Fund your Account to get Verified.

Step XIV -In order to activate your eToro account and make your first deposit, complete a short trading knowledge assessment.

Once you complete trading knowledge assessment and your account verified you can deposit AUD to buy and sell your favourite crypto.

The Wallet

The eToro Wallet allows you to hold different cryptocurrencies in one place: it supports Bitcoin, Bitcoin Cash, Ethereum, Litecoin and many more.

Using the eToro wallet include the following:

  Sending and receiving crypto to and from other wallets.

  Converting from one crypto to another (e.g. Bitcoin to Litecoin).

  Transfering cryptocurrency like Bitcoin from the eToro trading platform.

The Trade

You can trade all available 25+ assets on eToro platform.

Buy and Sell option on each asset class has two features.

*trade

*order

-!!-   You can either buy/sell your assets on market price (trade).

-!!-   You can either trigger limit to buy/sell your assets (order).

-!!-   You can also stop sell your assets.

Note:    A sell stop limit order is placed below the current market price. When the stop price is triggered, the limit order is sent to the exchange and a sell limit order is now working at, or higher than, the price you entered. A buy stop limit order is placed above the current market price.

The Charts

eToro has a ProCharts tool feature that allows users to view multiple charts simultaneously for better comparisons. You can access this feature in your eToro account by launching ProCharts, and you’ll want to pay close attention to the trend line. These lines fluctuate often and can be a good indicator of when to trade. Using this tool, you can measure which shares and assets are performing well, and which are set to decline based on previous market information.

The crypto price chart is more than adequate to draw trend lines, add indicators and draw chart patterns to perfectly time a BTC buy or sell entry using a market, limit or stop order.

Key Features & Benefits

Multi-Asset Platform

Stocks, ETFs, Crypto, Indices and much more.

Investing with Experts

Unique portfolios and the ability to copy top traders.

Social Trading

Join a 10M+ Community Across 140 Countries.

CopyTrader

On eToro, users can copy the trades of talented, experienced and professional investors using the CopyTrader function.

Fees

Lower fees & more competitive spreads that can’t be beaten.

Demo Account

Explore the simplicity and ease-of-use of the eToro platform with a FREE $100,000 demo account.

Payment Methods and Fees

When buying cryptocurrencies on eToro, you gain ownership of the assets. The only trading fees charged by eToro are spreads which are between 0.75 to 4.9 % .

The improved eToro fee model for coin transfer from the eToro investment platform to the eToro Money crypto wallet works as a dynamic mechanism. Coin transfer fees are calculated according to the size of the position.

For smaller positions, fees are likely to be lower than they would have been before. For larger positions, the fee has a maximum cap.

• Coin transfer fee %0.5 of the transaction size.
• Fee minimum $1 (in units).
• Fee maximum $50 (in units).

Please note that the final fee amount will be determined when your request is processed.

Here is the list of payment methods you can use to make a deposit:

• Visa/Mastercard
• PayPal
• Bank wire transfer
• Diner’s Club debit/credit card
• Neteller
• Skrill
• China Union Pay
• Webmoney
• Yandex

Note: Some deposit methods are limited to certain countries.

In addition eToro accept deposits in the following currencies: AUD, EUR, GBP, RMB, THB, IDR, MYR, VND, PHP.

Is eToro Safe to Use ?

  Cyber Security Standards - eToro employs the highest standards for protecting its clients’ funds and personal information. They will never share your information, unless required to do so by law.

  Regulation - eToro is considered being a trustworthy broker, because it is regulated by these regulatory bodies: ASIC (Australian Securities and Investment Commission), CySEC (Cyprus Securities and Exchange Commission), FCA (Financial Conduct Authority – UK), MiFID (Markets In Financial Instruments Directive).

  Safety features - eToro uses an advanced version of Secure Socket Layer technology to authenticate data transfers and protect users.

Final Verdict

eToro’s all-inclusive, award-winning platform and mobile app provides traders with plenty of excellent trading opportunities. If you are in Australia and are wondering whether it may be beneficial for you to use this particular wallet for your cryptocurrency trading, the answer has to be a resounding yes.

The service offering is unique and separates itself from its competitors such as CoinSpot and Binance to provide a fairer and easier online exchange for users wanting to purchase crypto.

Setting up an account is extremely easy on eToro. You simply enter your name and email, create a password and link your bank account. You then have to verify your identity by uploading an image of an approved ID. It’s as easy as that! Typically, accounts on eToro take less than a couple of days to approve and be ready for trading.

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We compare the most popular crypto currency exchanges in Australia. We are Bitcoin Users and Traders like you. We have traded personally on each and every exchange mentioned here. We don't sell bitcoin and are not an exchange. We just make it easy for you to find a bitcoin exchange and buy bitcoin and other altcoin in Australia.

The exchange selected show our opinion only and cryptoreview.com.au is not responsible for any losses that may happen by trading on these trading platforms.

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