eToro Review

Established in 2007, eToro has grown from an early fintech disruptor into one of the most recognisable investing platforms in the world. The company launched its WebTrader platform in 2009 and then introduced social investing and CopyTrader in 2010, helping to define a category that many rivals later tried to imitate.

Today, eToro has 40 million registered users across 75 countries, which gives you a sense of just how far the platform has scaled beyond its early social-trading roots. The beauty of being a publicly listed company means we can also cross check the marketing claims against the number of active accounts, which shows 4.36million funded accounts, and US$20.2 billion in AUA by the second half of 2026. That’s a lot of eToro trading accounts.

eToro Australia have held ASIC regulation since 2017 under AFSL 491139, and have continued to expand upon and specialise their product range to the local market over the years. For you, that means more Australia-specific functionality, including AUD accounts to deposit, hold, withdraw and invest in Aussie dollars. That makes the experience feel much less like a global platform adapted for Australia, and much more like a broker that is truly invested in it’s local presence.

With a passion for innovation and an emphasis on user-friendly functionality it should come as little surprise that eToro has won a wide range of industry awards. Continuing to put forward a different angle than many on the market today, eToro doesn’t try to win you over with raw-spreads or pro-trader branding, but instead aims to give you an easy-to-use platform that combines self-directed investing, copy trading, portfolios and a social looking interface in one place. If you want a broker that feels modern and easy to understand from day one, eToro remains one of the strongest names in the market.

eToro offers access to cryptocurrencies, forex, commodities and stocks across the different corporate entities of the group, which are regulated by ASIC, CySEC and the FCA in the UK.

Professional accounts are strictly for experienced traders and, in order to become an Elective Professional, traders must pass a suitability test, and be either in the EU or UK.

Since we are looking at how eToro stacks up in Australia, we are going to focus from here only on what the AU entity provides to make the review simpler.

For Aussie users, eToro’s platform now offers more than 6,000 stocks across 20 global exchanges, alongside ETFs, smart porfolios, and 100+ cryptocurrencies. Share market investing is offered through the Service managed investment scheme rather than CHESS. This means investors do not receive voting rights. as the scheme holds legal ownership, while the investor has beneficial ownership.

The introduction of recurring investments is a sign of where eToro is heading in the local market. The ability to automate investments into stocks and ETFs on a schedule is a feature that stands out well for long term investors, clearly where the broker wants to focus.

The SMSF account offering also points the same way. With a US$10,000 minimum, this is one of few brokers that began life overseas to really embrace the importance of SMSF accounts here. It might not be our first choice for that, but the intent is a good sign.

Demo account holders can use US$100,000 in virtual funds to try out copy trading prior to deciding if using real cash is for them, or not. This is a particular plus point for eToro, as the concept will still be new to many users and some brokers don’t offer Demo accounts which cover Copy Trading. The same Demo account supports self-trading as well, so users can get hands-on experience of what it’s like to run exposure to that type of trading as well.

Similarly, traders who upgrade to a Live account can continue to toggle between Live and Demo environments to allow prototype strategies to be tested using virtual rather than actual funds.

There are three main types of trading offered:

• Trade Markets: where traders can trade individual markets for their own account
• Copy People: where traders can set up a relationship to automatically take the positions of a lead trader
• Smart Portfolios: eToro’s curated long-term themed portfolios. Financial assets are bundled together in long-term investment instruments, with a US$500 minimum investment.

One major advantage that comes from holding an account with eToro is that successful traders can put themselves up to be followed by others. Everyone likes a supplementary income stream and popular traders can earn returns of ~1.5% on the value of assets under their management, once they are proven (not at cadet stage).

eToro customer support is multilingual and available 24/6. The range of support has improved quite considerably in recent years, from a ticket submission approach through to something far more comprehensive. You have live chat, email, and telephone, but we would not say it is quite as good as some of it’s peers in our own tests.

During testing, we were completely satisfied with the written messages we received from eToro. They were informative and well laid out but it did feel like a backwards step to have to wait to gain a response. You can also now get answers from Tori (AI) instantly to help.

The frustration we had experienced while carrying out earlier eToro reviews was shared by others and some traders even suggest using social media accounts to gain information from the firm. Others suggest the poor response times are specific to the Demo account holders but either way, account holders appeared to be working too hard to access the support they need.

Much of those concerns have been dealt with, and all-in-all, it is a better level of service than once was the case. That said, it’s fair to say then that eToro’s support style is still more digital-first than traditional. If you want immediate phone-based assistance before you even open an account, other brokers may feel more personal, but if you are comfortable with an app-first support model, the current setup is much stronger than many digital first platforms.

When we had conducted our eToro review a few years back, the research and learning section was one of it’s worst performing areas. It feels good to say that a lot has changed.

The eToro Academy now offers courses, webinars and podcasts for a wide range of experience levels, from beginners taking their first steps to users looking to deepen their understanding of markets and strategy. There are now analyst ratings, forecasts, and insights integrated in the platform, and whilst it does not feel like an institutional type research, that is not why many people come to eToro.

The research and learning tools that are on offer are laid out in an attractive and easy to use format. Some of the video courses are billed as interactive, which would suggest they have been designed to provide a high-quality experience, and the virtual tour of the platform is indeed a positive (if brief) experience.

There is also some third-party research made available to clients. Topics covered include market sentiment, which means these reports run in parallel to the tone of the site, being one where traders can share ideas on market sentiment with each other. As the written reports are relatively lightweight in nature, it is open to question how much they actually add to the discussion.

More experienced traders and those following more advanced strategies will struggle to find any eToro in-house research that is thought-provoking or idea-generating. The Economic Calendar provided by eToro sums up very well the situation regarding the platform and provision of research.

It is perfectly satisfactory, if not in any way groundbreaking. The ‘value-added’ associated with eToro is found in other areas of the site, particularly the social trading platform, which eToro appears to consider a fair replacement for broker generated research.

“eToro is a market-maker broker and lists a typical minimum fixed spread of three pips on the EUR/USD, which is on the high end of the range when comparing brokers with fixed and floating spreads, making it a more expensive platform.” – forexbrokers.com

As ForexBrokers point out in their eToro review, the company isn’t really in a position to compete on price alone.

“In addition to the company’s excellent educational program and all-inclusive trading platform, eToro’s most striking feature is its online financial trading community, which is among the world’s largest. eToro recently replaced its two popular WebTrader and OpenBook trading platforms into a new all-in-one platform that gives the trader access to all of their services across all types of devices.” – forexfraud.com

The eToro review by ForexFraud picks out the innovative nature of the broker’s platform. This fresh approach will certainly appeal to many.