eToro is a popular broker, especially in Australia. It is know for being the largest social trading network in the world and great support team.
eToro was founded in 2006 and it definitely is one of the top brokers for Aussie traders.
Look at their awesome Australian page. There you can find all info that you need.
eToro Has An Australian License
eToro now counts over 5 million users spread across 170 countries, one of which is Australia. Whenever you sign up with a new broker, always make sure they are regulated.
The company is regulated under CySec, FCA and Australian Securities and Investments Commission (License #491139).
eToro For Australian Traders
The headline stats you need to know about eToro Australia is that it boasts access to over 45 major and rare currency pairs. Leverage can be as high as 400:1 and the spreads are very tight.
The platform allows you to adjust the level of risk as well as how much you want to invest in each trade. The default setting will not do leverage going past 50:1.
Then, there is a feature called Copy Trader which lets you duplicate the strategies of the more successful forex traders. All that is required from you are the funds. Copy Trader will take it from there.
The base currency for opening an account with eToro Australia is USD.
While there are over a dozen different payment methods that are compatible with eToro, for Australian traders, the only options are credit/ debit card, bank wire transfer or PayPal. The minimum initial deposit to open an account can vary from $50 up to $1000 pending on your location and local regulations.
There is a demo account available with virtual funding by which you can test out the platform without risking any of your own cash.
Trading platform review
Etoro has one of the best trading platforms at the moment.
The original trading platform for eToro was a bit simplistic and only interested novice traders. But it has been undergoing continuous development and is now prominent in the online trading community at large. It is fully compatible with both your Android and iOS devices.
eToro’s social trading platform, called ‘OpenBook’, was launched in 2010, same as the ‘CopyTrading’ feature.
Now, however, both the ‘OpenBook’ and ‘WebTrader’ platforms have been merged to create an all-inclusive trading platform from which all their functions can be accessed.
Alternatives To eToro Australia
eToro Australia is great but the do not offer binary options trading anymore. If you want to trade binary options then visit Highlow.
You can reach eToro’s customer support services 24/5 via telephone or email. The typical response time for emails is 48 hours, not the quickest in the area. There has been no mention of a live chat option as yet.
Usually, client queries are answered with the help of online guides. However, you can also request a direct communication with one of the representatives. You can communicate either in English, French, German, Spanish, or Italian.
The broker is being heavily regulated by the FCA, CySEC and ASIC Australia.
eToro also uses a Secure Socket Layer to authenticate users and data transfers.
That is a huge contributing factor to the high success and reputation of this broker.
All things considered, this is one of the best Brokers to partner with. Highly efficient and comprehensive in its services, it also employs the latest security measures to make sure that your trades are safe as they are convenient.
Go to our homepage and pick one of the Australian friendly brokers.