eToro Australia 2020 – Does The Broker Accept Australian Traders

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Contents

Regulation and License

eToro’s brokering services are provided by eToro (Europe) Ltd. (“eToro Europe”), a registered Cypriot Investment Firm (CIF). The company’s registration number is HE20058. eToro Europe is regulated by the Cyprus Securities & Exchange Commission (CySEC) under license number 109/10. In the UK, eToro (UK) Ltd. (“eToro UK”), company registration no. 7973792 is authorised and regulated by the Financial Conduct Authority (FCA), under firm reference number 583263. eToro Europe and eToro UK both operate under and comply with the Markets in Financial Instruments Directive (MiFID). In Australia, services and products are provided by eToro AUS Capital Pty Ltd. (“eToro Australia”), ABN 66 612 791 803 is the holder of an Australian Financial Services Licence (AFSL) 491139 issued by the Australian Securities and Investments Commission (ASIC), and regulated under the Corporations Act (Commonwealth). eToro Australia arranges for its clients to be provided services by eToro Europe.

eToro and Brokers

The Terms and Conditions you agreed on upon registration stipulated which entity and regulation is applicable to you. This information also appears in your account settings.

MiFID (Markets in Financial Instruments Directive) is a European Union law, which provides a harmonized regulatory regime for investment services across the European Economic Area. The main objectives of the Directive are to increase competition and client protection in investment services. The activities and services of both eToro UK and eToro Europe comply with MiFID requirements. All documentation and procedures are consistent with MiFID rules.

eToro (Europe) Ltd.

eToro Europe, having its registered office at 4 Profiti Ilia Street, Germasogeia, Limassol, Cyprus, is licensed to provide the investment services of reception and transmission of orders in relation to one or more financial instruments, execution of orders on behalf of clients, dealing on own account, portfolio management and Investment Advice. It is also licensed to provide the ancillary service of safekeeping and administration of financial instruments, including custodianship and related services. eToro Europe deals with you either as principal or as an agent. When we act as an agent, we will use another executing broker, including a non-affiliated third party, to execute our clients’ orders.

For full information on the services and instruments eToro Europe is licensed to provide please click for Investment Services and Ancillary Services.

eToro (UK) Ltd.

eToro UK having its registered office at 5 Fleet Place, London EC4M 7RD and principal place of business at 24th floor, One Canada Square, Canary Wharf, London E14 5AB , is licensed to deal or make arrangements in investments as agent or principal on a matched principal basis and hold client money. eToro UK deals with you as agent and will use another executing broker, including eToro Europe or a non-affiliated third party, to execute our clients’ orders.

For full information on the services and instruments eToro UK is licensed to provide please click here

eToro AUS Capital Pty Ltd.

eToro Australia, having its registered office at Level 26, 1 Bligh Street, Sydney NSW 2000, Australia, is licensed to deal in derivatives and foreign exchange contracts as agent for you and as principal. When we act as an agent, we will use another executing broker, including eToro Europe or a non-affiliated third party, to execute our clients’ orders.

Copy Trading

CopyTrading™ is a feature which allows you to instruct us to automatically generated an order for your account based on your choice of trades executed by another eToro user (the “Lead Trader”). The CopyTrading™ feature is provided to you by eToro Europe (and arranged for you by your local licensed provider if your local provider is not eToro Europe). Before you can use the CopyTrading™ feature, eToro Europe will assess its suitability for you based on information which you provide. This may lead to limitations on your CopyTrading™ activities or to blocking them altogether. Access to CopyTrading™ under any conditions is not an assurance or representation that any eToro entity has advised you that it is suitable for you. Please see the full terms for access.

Jurisdictions

Europe
UNITED KINGDOM eToro (UK) Ltd. is regulated by the Financial Conduct Authority (FCA) and retains a cross border license from the FCA to offer its services in member states of the European Economic Area, for detailed list of countries and permissions, please click here.
CYPRUS eToro (Europe) Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) and retains a cross border license from the CySEC to offer its services in member states of the European Economic Area, and outside of it.
USA
USA eToro USA is operated by eToro USA LLC, which is registered with FinCEN as a Money Services Business.
Australia
Australia eToro AUS CapitalAustralia Pty Ltd. authorised by the Australian Securities and Investments Commission (ASIC).

Regulatory Disclosures

Client Categorization

The Markets in Financial Instruments Directive (MiFID) requires the categorization of clients as Retail Clients, Professional Clients or Eligible Counter Parties. eToro Europe and eToro UK categorize all clients as Retail Clients when opening a trading account, which have the highest level of protection (such as eligibility to the Investor Compensation Fund, Best Execution, and Safeguarding Clients Assets etc). Clients are allowed to request to be reclassified, in writing to eToro Europe/eToro UK, as applicable, who may recategorize you according to the specifications, conditions, and procedures of MiFID. “Retail Client” is a client who is not a professional client or an eligible counter party. Eligible Counter party is a professional client or legal entity who provides investment services that involve the reception and transmission or the execution of orders. Clients under this category have the lowest level of protection. Professional Client is a client who possesses the experience, knowledge and expertise to make their own investment decisions and properly assess the risks that they incur and must comply with the following criteria: Α. Categories of clients who may be considered to be professionals: The following shall be regarded as professionals in relation to all investment services and activities and financial instruments:

  1. Entities which are required to be authorized or regulated to operate in the financial markets. The list below should be understood as including all authorized entities carrying out the characteristic activities of the entities mentioned: entities authorized by a member state under a European Community Directive; entities authorized or regulated by a member state without reference to such Directive; and entities authorized or regulated by a non-Member State
    1. Credit institutions;
    2. Registered Investment Firms;
    3. Other authorized or regulated financial institutions;
    4. Insurance undertakings;
    5. Collective investment schemes and management companies of such schemes;
    6. Pension funds and management companies of such funds;
    7. Commodity and commodity derivatives dealers;
    8. Other institutional investors.
    9. Locals
  2. Large undertakings meeting two of the following size requirements, on a proportional basis:
    1. balance sheet total at least: 20.000.000 euro
    2. net turnover at least: 40.000.000 euro
    3. own funds at least 2.000.000 euro
  3. National and regional governments, public bodies that manage public debt, central banks, international and supranational institutions such as the World Bank, the Internal Monetary Fund, the European Central Bank, the European Investment Bank and other similar international organizations.
  4. Other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitization of assets or other financing transactions. They must however be allowed to request non professional treatment and eToro Europe/eToro UK, as applicable, may agree to provide a higher level of protection.
  5. It is the responsibility of the client, considered to be a professional client, to ask for a higher level of protection when it deems it is unable to properly assess or manage the risks involved. This higher level of protection will be provided when a client who is considered to be a professional enters into a written agreement with eToro Europe/eToro UK, as applicable, to the effect that it shall not be treated as a professional for the purposes of the applicable conduct of business regime.

Β. Clients who may be treated as professionals on request: Clients other than those mentioned above, including public sector bodies and private individual investors, may also be allowed to waive some of the protections afforded by the conduct of business rules of eToro Europe/eToro UK, as applicable. Both eToro Europe and eToro UK are therefore allowed to treat any of the above clients as professionals provided the relevant criteria and procedures are fulfilled. Such as that the client is capable of making his own investment decisions and understanding the risks involved (fitness test). The company reserves the right to decline any of the above requests for different categorization Requests for more information and re-categorization shall be submitted to

Best Execution and Order Handling Policy

Complaint Handling Procedure

Conflicts of Interests Policy

Investors Compensation Fund

Key Information Documents (eToro Europe)

Anti Money Laundering Policy

Both the UK and Cyprus have enacted the appropriate legislation and taken effective regulatory and other measures by putting in place suitable mechanisms for the prevention and suppression of money laundering, terrorist financing activities, and financial crime. Moreover, both countries are committed to apply all the requirements of international treaties and standards in this area and, specifically, those deriving from the European Union Directives. UK and Cyprus legislation has been harmonized with the Third European Union Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (Directive 2005/60/ΕC). As regulated firms, eToro Europe and eToro UK are both committed to follow the relevant regulations and to ensure that appropriate measures are taken to combat money laundering, terrorist financing activities, and financial crime.

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Capital Adequacy

In accordance with the applicable regulations, both eToro Europe and eToro UK need to have own funds, which are at all times satisfy the minimum capital adequacy ratios of the European Capital Requirements Regulation. An investment firm must have in place sound, effective and complete strategies and processes to assess and maintain on an ongoing basis the amounts, types and distribution of internal capital that they consider adequate to cover the nature and level of the risks to which they might be exposed. These strategies and processes are subject to regular internal review, to ensure that they remain comprehensive and proportionate to the nature, scale and complexity of the activities of the Firm.

Safeguarding of Clients Assets

We keep our clients’ funds and assets in segregated accounts, such that the clients’ funds and assets will be separated from our own assets. Such separation of accounts is being supervised both internally and externally. We operate only with reputable payment institutions and payment providers.

ETORO Review 2020

In this eToro review we show you how eToro’s very popular copy trading feature works in practice.

Table of Contents

eToro review – Broker’s Rating:

  • Automatically Copy Trades of Other Traders
  • Follow & Chat with Other Traders
  • 56 Currency pairs
  • Real Stocks
  • 83 ETFs
  • 15 Cryptocurrencies
  • Excellent reputation
  • Bonuses not offered for EU traders
  • No forex options
  • No hedging
  • Lack of MT4/MT5
  • No online education
  • No live trading sessions with Pros
  • More expensive than competition

Why is eToro different than any other trading platform?

  1. WATCH : you can easily search for profitable traders from all over the world
  2. FOLLOW : you can chat with them / watch their open trades + history of trades / learn and understand their trading strategies
  3. COPY : you can let the system to copy automatically all their future trades (forex, crypto currencies, commodities, world stocks)

eToro traders to copy in 2020

Below is my top secret list of best eToro traders to copy. I reveal this only for readers of this etoro review.

Simply search for their nickname in SEARCH field.

  1. berrau +16.24% gain during last 12 months
  2. CatyFX (Ecaterina Bors) +44.09% gain during last 12 months
  3. zsyuan +44.88% gain during last 12 months
  4. kelaleo +13.74% gain during last year
  5. ThinhLeDuc +8.57% gain during last 12 months
  6. JBinvest +11.89% gain during last 12 months

Disclaimer: Past performance is not an indication of future results!

eToro is simply a world-wide social trading network that connects investors and traders around the world. Something like a Facebook network, but a place where less experienced traders meet and copy trades of profitable investors. It is free to signup and watch other people’s trades, follow them and even chat with them. If you want to earn real profit you must deposit real money of course.

In case you are really good at trading, you can directly place your own trades without copying anyone and become a popular investor that will be copied by others.

eToro review – Tradable assets

At the moment, you can trade the following assets :

Forex >> 47 currency pairs available for trading on eToro

  • major pairs include combinations of: EURO, USD, CHF, JPY,
  • exotics: AUD, CAD, NZD New Zealand, CNH China, SEK Sweden, NOK Norway,
  • ZAR (South Africa), RUB (Russian Rubel), HKD (HongKong Dollar), TRY Turkey, MXN Mexico, SGD Singapore Dollars, PLN Poland, HUG Hungary

eToro’s trading platform – forex pairs

  • Real Cryptocurrencies >> without leverage:
    • Bitcoin, Litecoin, Ripple, Ethereum, Ethereum Classic, ADA, Miota, Stellar, EOS, Neo, ZCash, Binance Coin
    • You buy real cryptocurrencies with minimum investment of $25 for each trade
    • No leverage
  • Real stocks (not CFDs like with other brokers, so use this opportunity to your advantage)
    • NYSE stock exchange
    • New York Tech
    • Frankfurt
    • London
    • Paris
    • Madrid
    • Milano
    • Zurich
    • Oslo
    • Stockholm
    • Copenhagen
    • Helsinki
    • HongKong
  • Stocks CFDs with leverage max 5:1
  • CFDs on commodities (gold, silver, oil,copper, natgas, platinum)
  • CFDs on stock indices (13 stock indices available: US Dollar Index, NSDQ100,SPX500 Dow Jones 30, France CAC40, EUSTX50, DAX, FTSE100, China50, Madrid, Tokyo225 etc.)
  • ETFs – 83 ETFs are available mostly iShares

eToro review – Charting technical analysis tools

Charting was almost flawless, there are all main chart types to choose from whether you fancy the classic candlestick, bar, line, hollow candle, mountain etc they have it all. Y

You can also switch between various time frames starting at 1 minute all the way up to 1Week. It was also easy to zoom in and out.

Again, it is not the Metatrader 4, but 8 out of 10 traders will be satisfied.

eToro review – How does “copy trading” work?

Next in my etoro review, I’ll show you how to profit from Copy Trading.

Once you have signed up for your free account (e.g. click on above button on this page), you can immediately log into the platform. You can start searching for the best traders who trade with instruments tha you are interested in and who have the potential to make you money in the future.

First of all, register your free eToro account.

Then log in to the eToro trading platform. There is a virtual amount of $100,000 waiting for you inside your practice demo account. No worries you can deposit your real money anytime later. Now set up your nickname and correct language (currently you can choose from all major world languages). Now on the left hand side there is a panel, please click on “ Discover – Copy People ” where you can find an overview of all traders who are active on eToro.

After that you’ll see an opening screen where you’ll find the best traders grouped into several groups:

  • Promising Traders – Merchants that seem to become very popular among the eToro crowd in the near future (“future stars”)
  • Trending Investors – Traders who are growing their portfolio profits very fast and are getting a lot of new copiers at the same time
  • Most Popular – I strongly recommend you to to explore this category! These are the most profitable traders , their trades are being copied by other investors on this platform
  • Stock Investors – traders who are mostly into equity stocks
  • Local Popular Investors – popular local investors

First of all, you can find any trader by his/her nickname (for example see my private list in this article) by typing his/her nickname in the top SEARCH field:

(Note: If you do not know who to look for, click Left on Discover – Copy people )

Once you click on selected profile,:

  1. Click on COPY in the top right of the selected investor profile – if you want to invest only virtual money, click GO VIRTUAL .. if you want real then click DEPOSIT MONEY
  2. Then you will pop up a window where there are specific amounts you can invest in its future
  3. Either you choose a sum by clicking on a field like $500 OR choose a different amount and write it directly to the box
  4. If you just want to try with virtual money, then right click on “ USE VIRTUAL MONEY ” – then enter a virtual sum, for example, $ 1,000

Switch between REAL vs. PRACTICE DEMO account

  • In the next step we set when the trade will be automatically closed, in case the market goes against your position and you start to lose: “ Stop Copying if losing more than ” .. for example, I use 15% (also use at your own risk) .. meaning if my investment of $350 for this guy drops below $52.50 then it will be stopped by system.
  • Check the box “ COPY ALL OPEN TRADES ” only if you want to copy its current open stores (I personally leave this box blank since I believe it is better to copy future trades only)
  • The status at which all your open stores are currently (whether you are in the losers or the profits you see always on the left after clicking on the PORTFOLIO in the left menu)
  • How to copy another trader in a few steps.

    For each of the traders, I firstly recommend you to look first at their STATS tab.

    • STATS shows you theROI in % per each calendar and also full year (Performance)
    • RISK SCORE – some traders use risky strategies, therefore they have a high risk, some have Score in the range of 2-6 meaning mid risk trading strategy ( i prefer this personally)
    • MAX DRAWDOWN – is a maximum loss that this trader has suffered in a given time period
    • COPIERS – indicates how many other people are copying him/her. Trader earns money from eToro for each single copier, therefore he is motivated to trade profitably. In many cases we can say, the higher the number of COPIERS the more gain the trader has made during the selected time period. We suggest you dont blindly follow this number, as many people who are just copying dont use their brain! Sometimes you see traders who took a break from trading, yet they still have hundreds of copiers! Do your own due dilligence and you will be just fine.
    • TRADING section shows you the trading style of a particular trader. At the top you can see the history of trades, meaning how many trades in total he has done on Etoro. + Further you can see what percentage of all his trades were profitable (quite important!). You can see here the split of his portfolio. You may even select the percentage and filter out only people trading forex, stocks or mostly crypto traders if you like.
    • FREQUENTLY TRADED – At the bottom, you see the TOP 3 trades that this person is involved in (including specific stock titles or specific currency pair).

    Disclaimer: Past performance is not an indication of future results!

    How to trade the markets on your own

    You can of course trade the markets on your own. There is a wide range of tradable assets at your disposal. Click on tradable assets section.

    All you have to do is click on the left panel >> TRADE MARKETS

    If you came for forex trading, click on CURRENCIES

    eToro review – how to trade stocks

    You have two options:

    • Trade real stocks, without leverage >>
      1. You are buying underlying stock with leverage 1:1
      2. Minimum investment per trade is $500
      3. You can set STOP LOSS & TAKE PROFIT levels
      4. Decide between investing $XY amount or buy XY stocks
    • Trade CFDs on stocks with leverage up to 1:5 >>
      • Leverage 1:2 or 1:5 if you are in Europe
      • Minimum investment per trade is just $100
      • You can set STOP LOSS & TAKE PROFIT levels
      • Decide between investing $XY amount or buy XY stocks

    Invest in CopyPortfolios™

    Do you want to invest like a hedge fund ? … then read this. These are pre-made portfolios of assets grouped into bundles where each bundle represents multiple markets.

    Examples:

    • CryptoPortfolio – consists of crypto assets
    • Driverless – invest into self driving cars stocks
    • CannabisCare – tries to monetize the recent medical cannabis hype by investing into the stocks of the top performing medical cannabis companies
    • PanicMode – this portfolio is for investors that have anxiety of the future .. I guess this portfolio should stay strong in case of the next economic crisis

    Main Features:

    75% of retail investor accounts lose money when trading CFDs with this provider.

    eToro demo account

    Before you decide to deposit real cash, you can play on practice demo account with $10.000 virtual cash. We tested eToro demo account and luckily all functionalities and perks that are at disposal in real version were also available demo! Meaning, you can let the trades run overnight, copy top investors, place your own trades and strategies without any problem.

    Demo account seems to be available without time restriction, so it is completely up to you whether you deposit in 10 days or later.

    How to deposit real money on eToro

    1. Login to your PROFILE
    2. Click the “ Deposit Funds ” button at the bottom left
    3. Currently the minimum first deposit amount is $ 200. Select the payment method and enter the AMOUNT you want to deposit into eToro. We recommend either your local deposit options or the SKrill or credit card method (Visa, MasterCard etc.) the money will be available immediately within few minutes and you are ready to start trading. Another good way is to choose PAYPAL or Skrill according to whether or not you already have an account. eToro gives you also plenty local deposit options that vary country to country. When WIRE TRANSFER is selected, it may take several days for money to arrive, and further banking fees may apply.

    Well the minimum deposit is $200 at eToro. If you live in Australia, minimum deposit is just $50 at the moment. Nevertheless $200 or $50 will be enough to copy just 1 person.

    My personal trading strategy is always about “ risk diversification ” so when I trade I rather diversify the risk of loss and choose 4-5 solid investors to copy with $200 per head. That is $1000 investment spread across 5 investors.

    Again, that is just my way of trading, if you dont like this approach, you can invest the absolute minimum and invest $200 into one trade.

    But why would you put all your eggs into one basket right ?

    Or you can of course do your own trading with your own strategies inside the platform and don’t copy anyone.

    etoro review – Deposit methods available

    1. Wire Transfer
    2. Paypal (available in EU, Australia and partly Asia)
    3. Credit card (in EU it is Visa, Mastercard, DinersClub, Maestro)
    4. UnionPay
    5. Skrill
    6. Neteller
    7. Yandex
    8. Webmoney

    eToro withdrawal review

    You earned a nice profit and now want to withdraw money from eToro right ?

    All regulated brokers have to comply with strict regulation rules concerning KYC (Know Your Customer). That means you will need to verify your account either before your first deposit or before withdrawal.

    A note about deposit vs withdrawal method match

    Your deposit and withdrawal methods should match. It is the criteria set by the law in order to prevent some nasty stuff like money laundry etc. Therefore think before you deposit, if you use the paypal or card number 123 then you will be able to withdraw to that same card number 123..

    How to verify eToro’s trading account

    You need to prepare these documents to ensure smooth trading account owner verification:

    1. Passport or National ID copy (both sides in high resolution)
    2. Address proof (any sort of Utility bill – electric, gas, mobile phone or account statement with blurred amounts is OK)

    Also note that withdrawal fees may apply.

    Last steps before you start trading:

    Click on the person icon in the left upper corner, when you are logged in.

    1. Decide whether you want to keep your profile PUBLIC or PRIVATE (I recommend private, as you can change it later on to public profile if you wish)
    2. Set the Language

    >> Finalize your user profile

    1. First of all please add your address
    2. Identification number, is your ID obtained from your government
    3. Tick the box saying you are not USA citizen (if you are from USA you are not allowed to continue, as USA government does not permit retail trading at this moment)
    4. Clicking on NEXT we come to KYC test

    >> A note about KYC (know your client) test

    Last but not the least, in order to start trading you will have to fill and submit the KYC form. It is the prerequisite set by the law and eToro as a solid and regulated company must comply with the law of course.

    1. your trading experience in years (they will not check if that is truth)
    2. your trading knowledge (they will not check if that is truth, but don’t lie)
    3. planned investments (Example: if you came for forex then tick the currencies box etc.)
    4. purpose of trading ( I said short term returns as we do high risk speculation here)
    5. attitude to risk (here say how much do you intend to deposit over the course of 1 year)
    6. financial status (salary and savings is ok) also check what is your occupation including employer name but they will not cross-check according to my information
    7. now fill out the silly private questions about your net worth.. relax they cannot check the info you provide here but it is required by law to ask each client

    Once you are done with this, your account is 75% complete, you can start trading with investment up to $2000 and once you want to lift that limits, you will need to verify with your phone number via SMS.

    Comparison with competition

    We compared eToro vs. Plus500 for you.

    Is eToro a scam ?

    Many people in online forums ask, whether eToro is a scam or not. Well based on what we saw during the testing, eToro is NOT a scam. At the end of 2020 when I reviewed eToro, communication with their customer support team was smooth and fast and the platform was working fine too without requotes, hunting for stop-loss or other shady practices that you encounter with brokers from some small tiny unregulated jurisdictions like Belize or Seychelles. Remember that many eToro reviews that can be found across the web were written by traders who gave up on trading, who had no trading strategy, no prior education, they know nothing about risk and money management and just gamble. On the other hand there are tons of etoro reviews that are positive and these are from traders who use their brain and copy the right persons with a clear strategy in mind. During 2020 review we have faced no difficulties with eToro broker. We do all the reviews with the end customer in mind, therefore we want to review depositing, trading and finally also withdrawal process. All was smooth in eToro’s case.

    Nowadays forex scam is not happening among regulated brokers and eToro is CYSEC and since last year even Australia ASIC regulated broker which is pretty serious regulator if you ask me.

    eToro review conclusion

    The main goal of this eToro review was to demonstrate the way how to make eToro copytrading profitable for you and outline the main facts about the broker in the same way.

    In my opinion eToro works great for traders who want to trade forex, crypto or even real stocks on a solid trading platform.

    If Apple was an online broker, we are sure their platform would be very similar to eToro from simplicity and user friendliness perspective.

    I recommend eToro specifically for forex, real stocks (currently with 0% trading fees)and crypto trading, as it seems that this company invests a lot into these offerings. According to my information just during this year they have added most popular crypto currencies into their trading portfolio + they have launched real stocks trading and added many new forex currency pairs.

    When we talk about the eToro platform itself, I personally think it is very intuitive, meaning you will find anything very quickly without a lot of search. All items were found during the review exactly where you would expect it to be!

    Especially the newbies who have not yet developed a sense of complex perception of trading,will for sure benefit from intuitive and easy to absorb visual processing of trading data across the whole eToro platform.

    I think you will basically need maybe one afternoon of playing with demo account to understand how things work on eToro platform.

    Reading the eToro’s reviews across the fx forums I think the main eToro’s success comes from smartly implemented copytrading feature, low min.deposit and good customer support. Min.trade requirements are micro lots btw which makes sense if you want to cater to newbies.

    Advanced forex traders who decide to join eToro, could benefit from being copied by others (remember that eToro pays you for each copier). So if you are good at multiplying money by trading, you should give eToro a try.

    Veterans and very experienced forex traders may find eToro more expensive than their favorite ECN broker (higher level of brokerage) and they could be also missing Metatrader 4 or cTrader software.

    Review video

    BONUS for traders n/a
    Trading Contests No
    Minimum deposit 200 USD
    Min. volume size 1000 units (micro lot) OR 0.01 minimum trade volume
    Max. leverage up to 1:30 for EU citizens
    up to 1:300 under ASIC Australia regulation
    Spread EURUSD approx. 3 Pips
    Number of available currency pairs 47
    Metatrader no
    Can you trade via Internet Browser yes
    cTrader No
    Islamic Account Yes swap free account !
    Copying profitable traders (Copy trading) YES
    Segregated Account yes trader’s funds are held on segregated accounts in Barclays bank
    Scalping No
    Hedging No
    Mobile trading yes Mobile App for Android and iOS
    Trading Account types Standard and VIP
    15 languages supported Arabic, Chinese Dutch, English, French, German,Italian, Polish, Portuguese, Russian, Spanish, Swedish,Norwegian, Malay
    Regulation & License FCA (UK), CYSEC Cyprus, ASIC Australia
    Review eToro
    Summary eToro is very user friendly trading CFD platform. As such it is a magnet for beginners. Doing the review, we have found out that it is pretty good platform if you put your head into it. Don’t just go blindly and copy anyone on eToro who has a large following! Instead think twice before you click that “copy button”. Always look for longterm traders who have been with eToro for more than a year and half, check their history trades and their portfolio. Check their activity and risk profile. In a conclusion of the review I must say I was missing MT4 and more engaged customer support and most of all regular online trading education. eToro has a lot of room for improvement! We prepared also etoro Singapore review
    Author Edward Kendy
    Rating 4,5 out of 5
    Risk Disclaimer:
    eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.Past performance is not an indication of future results.

    7 COMMENTS

    Hello can you help me out pls ? I am just starting out so please be patient with me ��
    First I selected my favorite trader that I want to copy, but then I forgot to tick the option that says: “Copy all open trades”
    Is it a big problem ?

    Hi Monica, not a big deal really. During the eToro review I personally never selected that option as I felt more comfortable with copying only future trades. It just depends on what your overall strategy is. I prefer to leave it unticked. Thx.

    Hi there. I can only say I have had quite positive experience with eToro’s copytrading feature. Expect that it takes some learning curve to master the strategy on how to find the best traders on eToro. Right now after almost 6 months, my net profit is 5.5% which is not bad IMHO. My tip: Don’t be greedy and copy people with lower risk levels , who have been with eToro for more than 1 year.

    Etoro withdrawal process was very fast when comparing with some shady brokers that I used before. If I had to rate this platform, I would give 4.5 stars out of 5 rating! Thx.

    Hi I am from Singapore and Etoro is very popular here. Just recently started to invest using Etoro broker. I am very pleased so far with the results. I do trade stocks on my own and also copying a dude called liborvasa .. so far so good my portfolio is up +5% since November. Cheers!

    Global tensions grow, are they really true saying the gold will go up?

    Faun, in fact “gold” is considered as safe haven therefore it almost always goes up when global tensions grow. No wonder gold goes up (hitting 6 years high) now when there is ongoing trade war USA vs. China and problem with Iran is escalating.

    Best Forex Brokers in Australia

    The jurisdiction of Australia features a number of benefits for Forex traders. In this guide, we go over all the details involving legalities and regulations for Forex trading in Australia. Then, we compare Australia’s best Forex brokers to show you the pros and cons of each.

    All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Our writers nor our editors receive direct compensation of any kind to publish information on TheTokenist.io. Our company, Tokenist Media, is community supported and may receive a small commission when you purchase products or services through links on our website. See more information here about how we make money.

    The Foreign Exchange market, also known as the Forex or FX market, is where traders exchange currencies 24 hours, 5 days a week. With over $5 trillion worth of trades taking place daily, the Forex market is the largest and most liquid one across the globe.

    Depending on the jurisdiction, the Forex market can be subject to stringent regulation — or outright banned. Is Forex legal in Australia? Yes. The Australian Securities and Investments Commission is the governing body responsible for regulating Forex trading.

    Forex trading in Australia, in particular, has thrived thanks to its Government, for the most part. Although Forex trading has been popular in Australia for some time now, the real appeal began in 2020, after stories of the Swiss franc increasing by a larger margin began circulating in the media.

    But with an increase in the popularity of a profitable market comes an increase in those looking to take advantage. This makes regulation crucial for the safety and security of traders.

    Brokers or firms not under regulation do not adhere to any set of standards which can lead to fraudulent and illegal behavior. Even worse, if something goes wrong, your funds are often not protected.

    Forex broker regulations therefore, are the cornerstone of the Forex market, holding brokers to standards that are in the best interests of traders.

    Due to the global and decentralized nature of the Forex market however, regulations vary across jurisdictions, impacting trader eligibility. Brokers in the US must comply with different regulations to those in the UK, or Australia. In essence, the protection you are given will depend on where the broker is based, and the regulatory body it is registered with.

    For example, while the US has imposed strict regulations and penalties for any violations of these on the Forex market, Australia has aimed to offer a simplified financial system that regulates the Forex market enough to maintain a safe and secure environment, without imposing too many restrictions or penalties.

    In fact, the only legal restrictions enforced by Australia’s regulatory body ASIC, is that trading platforms must limit credit card deposits to $1,000 when clients open an account. Apart from this, no leverage restrictions apply, or legal requirements, other than tax payments.

    The market is also highly susceptible to volatility from economic turbulence, which regulations simply cannot protect us from. We’ll briefly explore these impacts by looking at the ongoing coronavirus pandemic.

    Overall, while the Australian financial system does offer customers protection, it is more relaxed than that of the US and UK, allowing both Forex traders and clients more room to breath.

    Times of Crisis: COVID-19 and the Forex Market

    The Forex market can also be susceptible to severe volatility from economic turbulence, which we are witnessing with the spread of the coronavirus. Currently, the market is seeing almost unprecedented highs and lows with the US dollar increasing against the Australian dollar, and other currencies.

    While the economic effects of the financial crisis in 2008 were dire, and included a loss of 8.7 million jobs losses throughout, early COVID-19 predictions suggest job losses in the US alone could hit 1 million per month between now until June 2020. A price war has already been unleashed in the oil industry, between Russia, OPEC, and shale producers, due to market contractions. This will put serious pressure on the indebted energy sector, and could cause a cycle of debt-inflation that will affect the world’s immense corporate debt.

    While it may be too early to predict the global economic effects that the coronavirus will cause, it is strongly looking like we’re about to face a repeat of the same consequences. At the least, a recession could be on the cards.

    The Australian Securities and Investments Commission (ASIC) regulates the Forex market in Australia and has played a part in it since the 1990s. All Forex brokers in Australia must register with ASIC and adhere to strict regulatory guidelines that aim to protect consumers by maintaining a fair and transparent financial environment. The ASIC works similarly to the NFA in the U.S Forex market. In Australia, there are a number of ASIC regulated Forex brokers.

    Regulation in the Australian Forex market

    Regulation plays a crucial role in the Australian Forex market because, primarily, it helps prevent fraudulent and illegal behaviour. We’ve seen in the past the drastic effects that an insufficiently regulated market can have on traders. For example, during the U.S financial crisis in 2007-2020, where regulation favoured banks and financial institutions, and thus, failed to sufficiently protect the consumer, until it was reformed by the Obama administration in July 2020.

    Due to dire examples like this, reputable authorities help to minimize these risks and maintain the integrity and transparency of the Forex market.

    New to Forex? Check out our Forex guide for beginners.

    Key ASIC Provisions

    Here we have outlined some of ASIC’s key provisions that regulated brokers in Australia must adhere to.

    A Valid License

    In order to offer financial services to clients the broker must hold a valid Australian Financial Services License (AFSL). To check if a broker has a valid license just search for the broker’s name on ASIC Connect. Don’t think that just because the broker’s name appears that it is a safe and legitimate company. This is one of several requirements of ASIC and doing a more thorough company check is the smart thing to do.

    An Office in Australia

    The broker must have an office based in Australia in order to ensure better accountability and trader confidence.

    Periodic Audit Report Submissions

    ASIC regulated brokers must submit regular audit reports that require full financial transparency to prevent fraudulent activity.

    • Segregated Funds

    Brokers have to keep their funds in a segregated account to that of clients.

    • Seamless trading platforms & efficient consumer resolution

    ASIC regulated brokers must provide seamless trading on fast and efficient platforms. They must also aim to resolve customer complaints in a time efficient manner.

    All ASIC requirements, including those mentioned above help protect and reduce the risk that traders face when entering the Forex market.

    ASIC Regulated Forex Brokers

    An ASIC registered broker has an individual ASFL number that you can verify on the ASIC website. Usually, this is placed on the “About Us” page and the homepage of a brokers website.

    You’ll also find a brief history of all its regulated brokers on the site. This will help you get a better understanding of the company before signing up with them.

    How ASIC will Improve Your Trading Journey

    ASIC regularly and continuously monitors its registered members, in addition to requiring regular audit reports. This means you don’t need to worry about whether or not a broker is currently upholding its standards and actively implementing them.

    If any erroneous activity or information does arise, ASIC will launch an investigation immediately. As you can see, ASIC compliance is a crucial factor when determining Australia’s best Forex broker.

    Creating an Enhanced Customer Relationship

    Not only does ASIC monitor Forex brokers, it also aims to encourage and promote confidence in traders. It does this through some of the following initiatives and projects.

    • A compensation scheme that ensures clients will be compensated in the event of broker insolvency.
    • Creative projects like MoneySmart, an educational program that aims to help traders of all ages enhance their financial skills.
    • Trustworthy services to help protect your trader rights such as, reclaiming money in dormant accounts.
    • Strict codes of practice for traders to become familiar with before trading in the financial market.
    • An efficient and thorough system to handle customer complaints made against member firms or ASIC staff. Complaints can be filed to ASIC’s customer helpline, including fraud and financial malpractice.

    The Best Australian Forex Brokers

    Don’t get caught up in low-fees, bonuses, flashy websites or advertising that a broker puts out there. It is every traders responsibility to determine how trustworthy and authentic a broker is.

    An ASIC regulated broker will ensure you can be confident that your funds will be safe and secure. This will give you more headspace to focus on analyzing the current market environment and create a trading strategy. Finding the right broker can help put you in a more competitive position, and give you a leg up in a complex Forex market.

    Keep in mind — some of the following platforms made our list of the best Forex brokers. The following list however, is specific to Australia.

    Top 6 Forex Brokers in Australia

    1. Best Australian Forex Broker Overall: Pepperstone

    When it comes to trading Forex in Australia, Pepperstone is one of the best routes you can take. For both beginners and advanced traders, the platform has a lot to offer.

    Pepperstone is widely considered a safe platform — and for good reason. It’s regulated by two tier-1 regulatory watchdogs: the ASIC and the FCA. Available assets include Forex, CFDs, cryptocurrencies, and commodities.

    For most investors, its most attractive feature is the low fees. With Pepperstone, there’s no withdrawal fees nor inactivity fees. Through its MT4 Razor account, other fees are as follows:

    • EUR/USD: $3.76 commission per lot, per trade. Spread cost: 0.16 pips.
    • GBP/USD: $3.76 commission per lot, per trade. Spread cost: 0.49 pips.
    • S&P 500 CFD: Spread cost is 0.4 pips.

    It’s important to note that when compared to other top Forex brokers in Australia, Pepperstone has relatively low fees. Many investors find this feature particularly attractive, but the platform offers additional benefits as well.

    For beginners, Pepperstone has a number of educational resources including its own YouTube channel. It also offers a demo account where users can place virtual trades to become familiar with the platform.

    Another unique feature of the platform is its social or copy trading capability. Pepperstone offers nearly every copy trading tool you can find, allowing its users to copy the trades of professionals.

    Pepperstone’s customer service is also top notch. They can be contacted via phone, live chat, email, or on social media. You’ll be able to find a representative who speaks English, Russian, Vietnamese, or Thai. They’re also very quick to respond — we tested their live chat function and received a helpful response in under a minute.

    • Low Forex and CFD fees
    • Excellent customer service
    • Copy / Social trading
    • No inactivity fees or withdrawal fees

    2. Best Premium Service: IG

    Founded in 1974, IG is highly regulated across six tier-1 jurisdictions, making it a safe bet for forex brokers. IG provides a superb offering of trading platforms and tools with widespread functionality that serves traders of all levels.

    IG’s sheer size allows it to offer competitive pricing all round on all products with a particular highlight being its active traders prices accessible to traders with Forex Direct accounts.

    Traders can utilize a comprehensive and quality selection of market research provided from both the company’s in-house experts including IGTV, and third-party providers. For example, traders can benefit from Real Vision TV, premium research for those with $5,000 or more in an IG account.

    Customer service is another highlight of the broker with an average waiting time of under 1 minute, and professional and helpful support provided.

    • Wide range of investments available
    • Competitive commissions and fees
    • Advanced platforms and tools
    • In house and third party research
    • Quality educational material
    • Limited product portfolio
    • High stock CFD fee
    • Steep inactivity fees after 2 years

    3. Best for Low Broker Spreads on EUR/USD: IC Markets

    Founded in 2007, IC Markets (International Capital Markets Pty Ltd) is based in Kent Street Sydney, NSW, along with another in Limassol Cyprus. Advanced and experienced forex traders are best suited to IC Markets with an offering of the lowest average spread out of competitors, advanced trading platforms and offers quick execution. Other attractive offerings include a leverage of up to 500:1, no deposit or withdrawal fees and competitive commission of $3.50 per low.

    IC Markets offers some limited research tools and educational material is for forex traders, including a blog outlining fundamental and technical analysis, third party content from trading central, ZuluTrader for social/copy trading, an economic calendar, and Myfxbook news headlines.

    Those looking for some face to face support can visit IC Market’s office in 306 Kent Street Sydney, NSW 2000. The team is also contactable through email, skype and by phone, for CFD traders.

    Customer support is contactable 24 hours, five days a week and the team in Sydney generally respond within 15 minutes, with more complex issues taking a day. Live chat is available for quicker answers.

    In addition, IC Markets prioritises its educational center, which includes articles and videos, and proves to be a good source of information for those starting out. The company’s customer support for Fx brokers comes second place only to Pepperstone.

    • Several customer support awards
    • Competitive spreads
    • Beginner friendly educational material
    • Leverage of up to 1:500.

    4. Best for Beginners: Plus500

    Plus500 is a forex broker that’s been around for over a decade. The company is regulated in several countries including Australia, the UK and Cyprus. Its trading platform is simple and easy to use, secure and fast, making it the perfect option for Beginners.

    In fact, an Australian CFD report by Investment trends, awarded Plus500 the best platform for its easy to use desktop and webtrader interface, advanced mobile CFD platform, and Security features.

    A spread rate of .60 pips is charged which is higher than some competitors including IC Markets, and a wide range of over 2,000 CFD products are available.

    Unfortunately for beginners, Plus500 offers no educational material. Furthermore, no research material or technical analysis is provided.

    As far as customer support goes, Plus500 offers clients bilingual, fast and knowledgeable responses. Chat support is available 24/7 in an impressive 16 languages. Even better, the platform is available in over 30 different languages, and a local office in Sydney will allow you to pop in should you prefer to speak to someone in person.

    • Wide range of over 2,000 CFD products, including cryptocurrency CFD
    • Guaranteed stop-losses
    • Highly regulated across the globe including by ASIC, FCA, CySEC and MAS
    • Lack of educational and research material
    • Lack of news

    5. Best Social Copy Platform: eToro

    First launched in Tel Aviv in 2006, eToro quickly became a social trading phenomenon. Its popular social trading features lets users imitate the actions of more successful traders on the platform. Today, the firm offers access to the biggest combined social network forex, CFD, stock, cryptocurrency and commodity traders in the world, totalling 11 million users, across 140 countries.

    eToro lead the way for $0 commission and broker fees, regardless of the preferred asset traded. Instead eToro makes it money on foreign exchange spreads.

    Taking that into consideration, eToro’s spreads are higher than competitors, starting at 3.0 pips for major currencies and going all the way up to 50.0 pips for exotic currency pairings. Professional traders can open a position with a leverage of 1:400.

    Customer support is limited. Users can look for answers on the help section of its site, or alternatively, live chat is available.

    eToro’s Trading Academy is useful for learning how to trade forex and CFDs where users can utilize an e-course, webinars, and a dedicated education centre.

    • Largest copy/social trading network
    • Helpful educational material
    • No MetaTrader 4
    • Shares cannot be bought directly with an Australian account
    • Limited support available

    6. Best for VIP Clients: Saxo Bank

    Saxo Bank is a leading retail forex and multi-asset brokerage, established in 1992 and regulated across 15 jurisdictions including Australia, UK, and Denmark.

    Traders who can meet the higher minimum deposit of USD 10,000 will benefit from Saxo’s advanced trading platforms, over 40,000 instruments, competitive pricing, in depth research, and reliable customer service.

    Saxo also offers VIP accounts with a minimum deposit of 200,00 and 1,000,000 but if this is too high then IG might be a better option.

    Spreads average on 0.6 pips for a EUR/USD pair but the bank does focus on spread-only pricing which has $0 commission fees and is available to all traders. That said, its volume based pricing does charge a default commission of 0.5 pips which could be worth it for active traders.

    Saxo banks platforms SaxoTraderGO and SaxoTraderPRO are streamlined and a robust choice for any trader.

    The in-house research provided by third-party sources creates a quality experience for traders prioritizing research. The customer support offered is up there with the best, with a response time averaging under 1 minute, and overall helpful responses.

    What is leverage and margin trading?

    A key strategy for Forex traders to make and increase their earning is through leverage. A leverage offered by a broker is the amount they are willing to loan traders.

    For example, some brokers offer a leverage of 50:1. This means that if you invest $1,000 the broker will give you $50,000 to invest in your position. To receive leverage, you will need to open a margin account with a Forex broker.

    What currency pair is most likely to increase my returns?

    There is no straightforward answer to this. The most popular currency pairs include the EUR, USD and GBP. Therefore, the pairs traded most frequently are the EUR/USD, AUD/USD, GBP/USD, and JPY/USD.

    Is there a limit to the leverage offered with Forex Australia?

    While Forex traders in the U.S are restricted to a leverage of 50:1, traders in Australia do not have a restricted leverage. However, the majority of Forex trading platforms offer a leverage of up to 500:1.

    This can change depending on an individual’s account history and the positions you are looking to trade. This makes it harder for new traders to get a high leverage, but it’s safer this way.

    Like any currency, the AUD’s volatility and coverage is what makes the AUD appealing to traders. The exporting of commodities and resources on the Australian commodity can also be easily found, which have a significant impact on the value of the currency, unlike more exotic currencies. When this is combined with price fluctuations of other countries it makes for a strong consideration for Forex traders.

    Will I have to pay tax in Australian Forex trading?

    Yes, you will. As of 2003, any money made from Forex trading will be taxed in the same way that taxed is paid on profits you make in any other investments or business. It’s important to note that when you sign up to a broker you are required to submit your banking and personal information. When you do this, your account activity will be recorded by the broker, making it risky to avoid filing your taxes.

    Understanding how to access Australian markets is important for foreign investors as well, with some exceptions being made. Some Australian trading platforms will allow individual and institutional investors depending on category, “The three broad categories ASX uses to delineate market actors or participants with regard to ASX market products are either to designate them as a Market Participant, Principal Trader, or Market Maker.”

    Only those designated as trading participants can have full access to Aussie markets.

    How does Australia tax Forex earnings?

    You can find all the information you need about this in the Income Tax Assessment Act, division 755 and subdivision 960 C & D. This Act states that all gains must be reported as assessable income and losses as deductibles. However, these are only recognized when realized.

    It’s also worth pointing out that unconverted gains or losses are not differentiated between in this act and several exemptions apply that do not consider gains assessable nor losses deductible, for example gains incurred in an earning exempt income. Nonetheless, it is not wise to attempt to categorize these yourself if you do not have a good understanding of the provisions, and so a tax professional is always your best option.

    Are bonuses offered in Forex trading?

    Yes, bonuses are offered by some Forex brokers during the signup stage to encourage traders to join, but not all offer this and it shouldn’t be an important factor in your decision making. Bonuses offered tend to be trading credit, like 10% on top of your deposit, or points that can earn you perks with the broker. If a bonus initially seems enticing to you, make sure you fully understand the terms of this bonus.

    Surprisingly, there is no minimum age required before Australian citizens can begin trading. But hold on, that does not mean you can trade forex at 12, because to trade Forex you need to have a bank account. And you cannot open a bank account until you are 18, without the consent of a guardian.

    Therefore, anyone under 18 will not be able to trade Forex. That said, you can open a practice/demo account which is offered by most brokers.

    About Author

    Tim Fries Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim is also the co-founder of Protective Technologies Capital ( protechcap . com ).

    Etoro Review 2020

    Regulated by CySEC & FCA | Segregates Client Funds | Trust Rating: B

    CFD Trading involves high risk be careful with your investement

    CFD Trading involves high risk be careful with your investement

    This post is also available in: Deutsch Italiano

    Table of Contents

    In this eTORO Review we want to find our if Etoro is really one of the best Forex Brokers in the world.
    We conducted an in-depth review in April 2020 to find out the answer and bring it to you!

    eToro is a social trading and multi-asset brokerage company that was originally founded in the year 2006 in Tel Aviv, Israel, under the name RetailFX.

    In 2020, eToro released the eToro OpenBook social investment platform, which facilitates copy/social trading. Since its launch, the platform has generated a significant amount of interest and attracted millions of users.

    eToro’s headquarters are located in Tel Aviv, Israel. Additional subsidiaries are registered in the UK and Cyprus. In Australia, eToro operates through a partnership with the top-notch true ECN giant, IC Markets.

    Today, over seven million traders, investors and copy traders hold accounts with eToro, making it one of the world’s leading Forex and social trading brokers.

    �� Trading Platform eToro, CopyTrader
    �� Head Office Limassol, Cyprus
    �� Founded 2020
    ⭐ Reviews 4.2 – 1,537 Reviews Trust Pilot
    ↔ Maximum Leverage 400:1
    �� Execution Servers N/A
    �� Broker Type Market Maker
    �� Negative Protection Yes
    �� Trading Options Forex, CFDs, Crypto, Stocks
    OUR RATING: 8.3
    The overall raiting is based on review by our experts
    �� Reliability: 9 / 10 �� Spread: 6 / 10
    �� Offers: 8 / 10 �� Speed of Execution: 9 / 10
    �� Customer Service: 9 / 10 �� Uptime: 9 / 10
    Trading Conditions
    Max Leverage: 400:1
    Platform:
    Min Deposit: $200
    Spread: From 2.0 Pips
    Cuts out Dealing Desk: Yes
    Methods of deposit and offers
    Deposit / Withdraw:
    Welcome offer: Up to $200
    Rebates Engine Forex: Coming soon!

    SECURITY, MARGINS AND TECHNOLOGY

    SECURITY

    In Summary

    • CySEC & FCA regulated
    • Social Trading & multi-asset broker
    • No dealing-desk intervention

    Of course, security is also important in social trading.

    According to European regulation enforced by ESMA, there is a guaranteed protection for customers’ deposits, which amounts to EUR 20,000 per customer. Negative balance protection is also guaranteed. The financial markets directive MiFID, which protects capital and investors’ rights after the banking crisis of 2007, is taking effect here.

    Copy Stop Loss (CSL), a function with which risk management can be applied to every copy relationship, provides additional security, for example, when copying. In the default settings, the CSL value is 40% of the total invested copy value for each copy relationship. If the account balance falls below this value, the Copy Stop Loss takes effect, and the copy relationship is terminated. This serves the automated protection of trading capital. The CSL can be set manually between 5% and 95%. For example, a value of 5% can be used as a safety switch when almost all the money from the copy relationship is used up.

    The eToro website is available in more than ten languages. Nevertheless, not all parts of the website have been translated into the respective language. Many areas are still only accessible in English. This can be detrimental to traders and investors who do not speak English.

    Licensed and registered with the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA), eToro provides a safe and secure trading environment for all its clients.

    Advanced Secure Socket Layer (SSL) technology is in place to guarantee high web protection and security.

    Is eToro a scam or a serious broker?
    eToro is to be classified as a safe and secure online broker. The general terms and conditions are clear, and the fee structure transparent. eToro is fully EU-regulated via the Cyprus Securities Exchange Commission (CySec). Over 4.5 million users currently trade with eToro – an enormous number. Major investors and partners behind the broker are Commerzbank, Barclays and Spark Capital. Currently, eToro can be regarded as the market leader in social trading.

    All monies are held safely and securely in trust accounts with renowned banks.

    Spreads Comparison

    eTORO
    PEPPERSTONE
    THINK MARKETS
    OANDA
    IC MARKETS

    CHARGES AND MARGINS AT eTORO

    In Summary

    • Spread from 2.0 Pips
    • STP/NDD broker
    • Up to 400:1 leverage
    • Free Copy Trading

    As is the case with every other market maker broker, eToro clients don’t pay a commission as such but a spread mark-up. The minimum spread is 2 pips.

    eToro is a STP/NDD (straight-through processing/no dealing desk) market maker broker that does not charge any additional fees or commissions – the spread markup is the only fee that’s applied. Copy trading is also free. eToro’s commission comes from the bid/ask spread of the trades you place and eToro guarantees that spreads remain the same, regardless of whether you are copying someone or trading manually.

    There are no costs or fees for the actual account management at eToro.

    Fees on spreads and overnight fees
    With a table that is constantly updated, eToro provides an overview of the spreads that are incurred when trading and any overnight fees that may be charged. The table is divided into the individual currencies. Depending on the underlying value, you can view the spreads and bid/ask spreads transparently overnight. From our experience, the fees are fair and transparent. You should know her, though. A detailed list of all fees can be found on the eToro website under Customer Service and here “Fees”.

    As with most brokers, margin requirements vary depending on the trader, accounts and financial instruments used; to give an example, eToro offers margins of up to 0.5% on Forex products.

    TECHNOLOGY

    In Summary

    • Reliable trade execution
    • Iconic SocialTrader feature
    • eToro trading platform
    • CopyFunds for investors

    The trading platform at eToro is particularly simple and clearly structured and can be used via a web application (webtrader). A download of the software is not necessary. There is also a mobile application that can be loaded onto the mobile device. Both traders and investors can conveniently access their account from anywhere and benefit from the opportunities offered here.

    Trading at eToro
    eToro provides a web-based trading platform. AAnyone who has ever engaged in trading CFDs, Forex or binary options will quickly find their way around. The platform is also intuitive to use for beginners. Trades identified from the OpenBook can be copied and executed here. In addition to indices or shares, currencies, commodities and cryptocurrencies are also available as underlyings.

    The eToro mobile apps for iPhone and Android
    eToro also supports mobile trading with two eToro apps which are available for Android as well as for iOS devices such as iPhones and iPads. Just as the social trading platform is divided into two areas, the apps also focus on the social component of the OpenBook and the actual trading platform. Both eToro apps are available for free at the well-known download centres Google Play and iTunes.

    Next to eToro’s easy-to-use and ‘all-inclusive’ trading platform, its ‘CopyTrader’ feature is the most iconic feature. CopyTrader is an online trading community that allows all individuals within the community to see what people are trading in real time and what profits or losses they make. These trading activities can be copied and applied to your own portfolio at the click of a button. This feature, and the fact that a huge eToro social trading community has already formed, has enabled the masses to trade and apply the strategies of other members of the community with simplicity and ease.

    The eToro platform, Trade Markets, can now be accessed from any device. Both novice and experienced traders enjoy the intuitive feel of the platform, which is very user-friendly and allows users to view the portfolios of other traders, get general access to all markets, or even invest with eToro’s newest feature ‘CopyPortfolios’ (former CopyFunds).

    eToro revolutionised social trading with their CopyTrader feature. CopyPortfolios gives further access to financial instruments that have been bundled together in one product. This allows any type of trader to conveniently invest in these funds.

    Execution of Speed Comparison

    eTORO
    PEPPERSTONE
    THINK MARKETS
    OANDA
    IC MARKETS

    CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

    CUSTOMER SERVICE AND CLIENTS SUPPORT

    In Summary

    • Limited support options
    • Global presence with large client base
    • Real or Demo account option
    • One universal trading account

    With millions of users worldwide, eToro has become one of the leading online trading providers and the top go-to broker for social trading. The social trading platform, network and community shares a wealth of insight and information, and beginners, in particular, can learn a lot through networking with more advanced traders. Advanced and professional traders can benefit from other traders following their strategies.

    In terms of customer support, eToro lacks a live service centre team. No live chat or telephone service is offered, and even though a large help and FAQ section is provided, users or potential clients cannot make instant contact. Email support may take up to 48 hours.

    Upon sign-up, clients have a simple choice to make: create a real or demo account. Once a real retail investor account has been created, a minimum deposit of $200 is required to start trading or copy-trading. Maximum leverage on a standard account is 400:1 and spreads start from 2 pips.

    Clients can trade more than 1000 financial instruments including 40+ currency pairs, indices CFDs, commodities and popular cryptocurrencies.

    Deposit and payment methods include VISA and Master credit cards/debit cards, PayPal, Neteller, Skrill, WebMoney, Giropay, Wirecard, Yandex, China Union Pay and wire transfers.

    One massive drawback is, that the eToro charges disbursement / withdrawal fees.

    Although this is not quite so rare among brokers on the Internet, it is being used less and less. With eToro, the fees must be paid starting with the first payout and there are no monthly free payouts. A payment is generally possible from an amount of 20 euros but with the incurring fees, paying out such an amount would be ludicrous. The payment fees are graded according to the amount paid out as per below:

    • 20 Euro to 200 Euro – fees of 5 Euro
    • 200,01 Euro to 500 Euro – fees of 10 Euro
    • from 500,01 Euro – fees of 25 Euro

    Social trading also needs to be learned. That’s why the training and education offered by a broker naturally plays an important role. eToro can certainly score points in this respect.

    The Trading Academy is particularly well-positioned and offers a wide range of opportunities to find out more about trades, the platform, the stock exchange and other areas of trading. The live webinars take place after registration and deal with different topics. The eCourse offers interactive trading courses in which participants can familiarise themselves with trading in slow steps. If you want to learn as much as possible in a short period of time, you can opt for the trading videos and be guided in this way.

    The available demo account option allows both novice and experienced traders to get used to the social platform, tools and features before investing real money.

    In terms of bonuses, a variety of bonus promotions and incentives are available that can vary from month to month. The first thing to mention here is a welcome bonus depending on the singular deposit amount. This is $100 in credits for a deposit of $300 to $999, if you deposit $1000 to $2499, a bonus of $300 credits awaits you. From $2,500 to $5000, bonus credits of $1000 are being awarded and beyond that you should not be shy to negotiate terms with the support team. Please note that bonus and promotional offers vary and the above mentioned example is not always available.

    FOREX AND OTHER TRADING OPTIONS

    In Summary

    • 47 currency pairs
    • 9 cryptocurrencies
    • 12 indices CFDs + 6 commodities
    • 1000+ stocks & 59 ETFs

    eToro is a multi-asset platform that offers equity and cryptocurrency investment products as well as CFD asset trading. In total 47 currency pairs, 6 commodities, 12 index CFDs, 59 ETFs, 1000 stocks and 9 cryptocurrencies are being offered.

    Traders can choose to trade the above-mentioned options on some of the world’s top markets such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index, Germany 30 and China 50.

    The cryptocurrencies that can be traded at this point of time are Bitcoin, Ethereum, Litecoin, Ripple’s XRP, Dash, Ethereum Classic, Bitcoin Cash, Stellar and Neo.

    eToro offers maximum leverage of up to 400:1 (on Forex), micro-lot trading starting from 0.01 and spreads from 2 pips (for example on the popular EUR/USD pair). Clients can start trading or copy-trading with an initial deposit of between $200 and $500, depending on the trader’s region of origin.

    A trader within the community / network
    At eToro, there are traders and investors. Investors follow the traders, copy their strategies and benefit from the professional knowledge they are offered. Traders have the opportunity to develop a stable career with good payouts if they are successful with their trades. At eToro there are four subdivisions for the traders:

    Cadet
    These are the beginners. These traders do not receive any payment but only a revenue share of 25% of the proceeds. Prerequisites are a verified account and at least one copier on your trades.

    Rising Star
    Who could already compile 50 copiers and has a minimum asset at a value of 500 euro on its account, that is a Rising Star. This means he will receive a payment of 350 Euros, a 25% revenue share and a 10% spread refund.

    Champion
    If you want to become an eToro Champion, you must have at least 250 copiers with your account and have an account balance of 1,000 Euros or more. In this case, there is a payment of 1.000 Euro as well as a revenue share of 30% and a spread refund of 50%. Access to the premium account is also provided.

    Elite
    As payment, there is a 2% share on the annual managed assets as well as a 30% revenue share and a 100% spread refund. You also have access to the premium account. The account must have a balance of at least 5,000 euros.

    If you want to be successful as an eToro trader, you can try this in three steps. The first step is to start trading. Your strategy is then shared. Now it is important to win the trust of the community and get as many copiers as possible. For this, the own trading decisions must be explained, and the questions of the copiers answered. Depending on how many copiers there are, the payment will then vary.

    Note: The revenue share refers to the net revenue generated by the traders that you brought to eToro yourself. These do not have to be copiers of the trader. Spread refunds are calculated on net spreads.

    The eToro community is especially large, which is a good thing for investors in particular. Retail investors can take their time to look around, find out about the various investments made by traders and then copy their strategies. The idea behind this type of network is above all that inexperienced investors find their way into trading as quickly as possible.

    The most successful traders are highlighted in the “Top Traders” section, which gives an overview of their past performance. Of course, it needs to be highlighted that past performance is no indication of future results!

    Forex trading and CFDs work the same way as investing in other trader’s strategies via copy-trading. These are all very complex instruments with a high-risk factor, and investors’ capital is always at stake.

    Transparency is an important issue on the platform and should be available to both investors and traders. For this reason, traders at eToro are divided into different scales. This has many advantages for traders and investors alike. The trader can slowly but reliably build a career in the network. This requires skill, dedication and a little luck. Investors and copiers can see from the status which successes the trader has already had. This makes it easier to choose the trader you want to copy.

    The Openbook offer is ideal for investors. This application makes it even easier to keep an eye on your portfolio. The term Open Book in finance stands for an overview of all trading activities that are currently carried out. The concept was also adopted for eToro, but at the same time also expanded. The trading application gives you the possibility to inform yourself about the individual actions of the different traders, to follow them, to get in contact with them and also to copy them. All this takes place on the particularly intuitive eToro platform. Traders can also use Openbook to take advantage of social interaction and consolidate contact with other traders and investors or draw attention to themselves.

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