We found 11 online brokers that are appropriate for Trading Australian Brokers.
Before we start with a review of eToro Australia, it is important to know that eToro is globally recognized and is one of the best online brokers for its minimum deposit requirement policy.
Established in 2006, the eToro has offices in some strategic cities around the world, including London, Cyprus, and Tel Aviv.
The primary focus of eToro is to provide an appealing trading platform to traders. Currently, it is one of the best Forex brokers and social trading networks in the world. It is ASIC regulated and has the CopyTrading feature. It also offers trading opportunities in more than 170 countries. The minimum deposit to trade is $200, but this amount sometimes differ based on the region. Across the world, more than 5 million users have trading accounts with eToro.
In Australia, eToro operates legally and holds a valid ASIC license to run the brokerage business. It is to note that brokers who have the ASIC license are considered safe as they need to follow the strict guidelines of the regulatory authority.
The eToro trading platform is easy and highly supportive. It is best for novice traders, and new elements are added regularly to constantly improve the software. Furthermore, eToro is an award-winning platform and is available on both PC and Mac computers, and on Android and iOS devices.
eToro is based on US currency and hence, deposits made through the Australian dollar or any other currency get automatically converted to the default currency.
Depending on the region, the minimum deposit changes. It can exceed the benchmark of $200 or be less. However, it usually fluctuates between $50 and $1,000.
Deposits can be made through Visa, Mastercard, Diner's Club card, Skrill, Yandex, PayPal, Neteller, China Union Pay, and Webmoney.
Withdrawing of funds is easy. A form is simply filled on the cashier front and you will receive an email on the process. Usually, the withdrawal is made via PayPal, credit card, or bank wire transfer. A fee is charged based on the amount of fund withdrawn.
Withdrawing money for the very first time requires some verification. A copy of the passport and recent utility bill (one of the last three months), along with a written signature are to be uploaded. A copy of the credit card is also required if the initial deposit was made through it. The withdrawal takes about five days to process.
The customer support provided by eToro is excellent and the service is available 24 hours a day from Monday to Friday. One can reach the support team through an email or a phone call and the current response time is about 48 hours.
In addition, the support team is well versed in a variety of languages such as English, German, Spanish, French. and Italian.
Many may be worried over whether money is safe with eToro. The broker is regulated and follows strict guidelines. This means eToro is trustworthy. Furthermore, it uses an advanced version of SSL that authenticates data transfers.
Of course, yes. It is certainly a good Australian broker as it is ASIC regulated. Its trading platform and mobile app are all-inclusive and award-winning. It also offers a plethora of trading opportunities to Australian traders. In addition, it is one of the most competent brokers that has a good reputation among Australian traders.
eToro is also mostly preferred for its educational programs catered to beginners. Its online presence is equipped with eCourse, academies, blogs, and live webinars. New traders have access to the wealth of resources to learn and start trading.
Furthermore, successful traders are awarded by eToro with cash prizes and fellow traders are free to follow their activities.
However, eToro does have its shortcomings. The withdrawal process is a bit lengthy. It takes about five working days to release payment to traders. It also lacks a real-time chat platform that can help traders get responses instantly.
Overall, eToro is one of the most competent brokers in Australia. It has a wide presence here and operates the business legally. The trading platform provided is also one of the best as it offers a plethora of learning materials for novice traders to learn and trade.
In addition, you have access to a professional customer support team. The support team manages both phone calls and emails. They can also serve you in various languages including English, German, Spanish, French, and Italian. Furthermore, your money is undoubtedly safe at eToro as its web and app platforms use an advanced version of SSL. Therefore, if you are just starting out with trading, eToro is a viable platform for you to consider.
If you are researching eToro make sure to read through the below eToro related guides. You will find something useful.
We've collected thousands of datapoints and written a guide to help you find the best eToro Australia for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Australian Brokers below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Australian Brokers trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Australian Brokers.
Compare Australian Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Australian Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Australian Brokers that accept Australian Brokers clients
Broker |
eToro
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IC Markets
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XTB
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AvaTrade
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Roboforex
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FP Markets
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Plus500
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Pepperstone
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EasyMarkets
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XM
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SpreadEx
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 1 | 100 | 100 | 200 | 100 | 5 | 1 |
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Used By | 20,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 10,000+ | 15,500+ | 10,000+ | 142,500+ | 3,500,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with avatrade |
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Up with roboforex |
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Up with fpmarkets |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
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Up with spreadex |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% 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. | 72% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
Roboforex Demo |
FP Markets Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
SpreadEx Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | US, JP | US, JP, NZ | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | US, TR |
You can compare Australian Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Australian Brokers for 2021 article further below. You can see it now by clicking here
We have listed top Australian Brokers below.