Welcome to the TradersBest.com Australia eToro review 2023. eToro has been on the scene since January of 2007 to allow just about anyone the ability to trade. The mission plan of eToro was to alleviate the dependency on traditional financial institutions and allow traders to complete transactions with minimal fees.
eToro values simplicity, innovation, enjoyability, openness and quality above all else. This approach towards the industry has made them one of the giants on the scene and there are plenty of satisfied customers who can give credit to this. Keep reading to find all the specifics surrounding this eToro review.
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The eToro crypto service would not be complete without security measures being put in place to protect their customers’ data while the service is being used. eToro directly confronts the issue of security in their ‘Avoid Scams’ section and give tips to users which help them remain safe when transacting. The funds of eToro’s clients are kept within tier 1 banks and all data that is trafficked on the site is protected by SSL encryption. Always be sure to confirm the https:// is before the web URL you are visiting to know that your data is safe.
The website itself is very well designed, the sleek, modern white and green colour scheme make the page attractive and easy to read. The layout is very intuitive and all the relevant information can be sought out with ease. The header bar makes the webpage easy to navigate by providing links to all the relevant sections of their service. All the media on the site is also very well optimised which allows the page to load very quickly on just about any device. The website is mobile friendly and also comes in a variety of supported languages. To compare this with another big hitter within the industry, head to our FXOpen crypto page.
eToro crypto Australia is a growing market and knowing exactly how to trade with this online broker is crucial for your trading career to be a success. Our team of experts have taken a look at the entire process themselves and put together this section of the article to share their findings. Firstly, you will need to open an eToro crypto account, this can be done by clicking the ‘SIGN UP’ button in the top right of the screen. Your personal data will then need to be inserted and the terms and conditions double checked. You will then need to agree to these terms and conditions and complete your account creation by clicking the sign up button.
Accounts will then need to provide confirmation of residence and a questionnaire will need to be filled out which will cater the entire service offer to your needs. Identity verification is then required before any account can transact within the service. This can usually be done with a passport or national ID card. You will then need to wait until the verification process is complete and determine which payment method you will be using to transact with eToro. The guidelines listed on the eToro website should be followed closely when opening a new account. Once you have made use of one of the many payment methods available, you will have funds within your account to trade as you see fit. Be sure to head to our XM.com review to see just how their process compares to eToro’s.
|Headquarter||24th floor, One Canada Square, Canary Wharf London, E14 5AB, United Kingdom|
|Year of Founding||2007|
|Available Languages||English, German, French, Italian, Spanish, Russian, Polish, Dutch, Swedish, Danish, Portuguese, Norwegian, Romanian, Finnish|
|Customer Support||Live Chat, Email Support|
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Having a great service on offer is one thing, but you will need to have your preferred payment method supported if you plan on using the service. Our eToro crypto review found that you will have a wealth of options when you have made your mind up to buy some eToro Bitcoin. Any customer will be able to fund their account with the traditional credit/debit card options. There is also great support for ewallets such as PayPal, Neteller and Skrill. Bank transfers can also be made, but this will have a processing time before the funds are made available.
With the credit and debit card options, your funds will be processed instantly and the maximum deposit you can make will be $40 000. The ewallets all have a $10 000 limit and are also processed instantly. Bank transfers can take anywhere between 4 and 7 days, but there is no limit set on the amount that you can deposit with this amount. All of these payment methods are also supported for withdrawals.
If you are looking to begin eToro crypto trading, you will have to ensure that there is a customer service team available to assist you with any queries you may have. Fortunately, eToro has one of the best customer service centers out there and you will manage to receive help very quickly. For customers based within countries where eToro has offices, you will be able to phone the offices and receive direct support. If you are looking to have a query answered online, you may lodge a ticket on the eToro website and this should be addressed by a representative as soon as possible.
Unfortunately, there was no live chat option available which would have made short queries a breeze, but there is a contact email address and physical address if you want to make contact in a more traditional method. The customer service team was found to be efficient and friendly and any customers can transact with peace of mind knowing this service is behind them. Head to our IG crypto review to take a look at another customer service offer.
Trading eToro cryptocurrency may seem scary at first but once the specifics of the license and the relevant security methods have been taken a look at, any potential customer will see that it is fairly unlikely for their data or funds to be stolen. As mentioned before, all customer funds are held within tier 1 bank accounts and their data is protected by SSL encryption. This is an industry standard and you will find similar methods being put in place by just about every online operator on the market.
eToro also has the relevant license from the Australian Securities and Investments Commission which allows them to operate legally within Australia. They will also need to adhere to strict regulations and rules in order to maintain their license status. These two facts should set any mind at ease when transacting with eToro.
Our eToro review 2023 found that the online operator boasts an impressive reputation within the online trading community. eToro manages to be in the press often and the majority of releases have been positive. These publications include the likes of CNBC and TechCrunch. There is also support available to customers throughout the day and there may be some negative reviews but for the most part, the service seems to be world-class.
One of the fastest growing trends within the trading industry is the buying, selling and exchange of cryptocurrencies. Cryptocurrencies gained major momentum over the past decade and offer traders a high degree of privacy and security when transacting with the host of cryptocurrencies that are currently available. Since Bitcoin burst on to the scene in 2009, there has been a tremendous amount of new cryptocurrencies being created and traded. In this section of the eToro crypto review, our team of experts take a close look at what crypto markets are available with the online service provider.
In total, there are a staggering 99 cryptocurrencies available to be traded on eToro crypto. This includes the likes of all the industry favourites such as Bitcoin, Ethereum and XRP. With eToro crypto Australia, your crypto transactions will be in the form of CFDs. This is a standard with a number of online operators and if you would like more information about what this means, head to our crypto trading page where we take a look at all the details.
A crucial part of our eToro review 2023 is the fees that are applicable to their service. As with any online service that is provided, customers will have to pay certain amounts of funds for transactions and other services that are provided. Opening an account with eToro is free for all customers and you will receive access to the tools and information that comes with the account. Our eToro review also found that they boast 0% commission on stocks. Unlike most other online operators, there are also no management fees applicable to your account.
A percentage of spreads is charged for eToro crypto trading and this will depend on the cryptocurrency you are trading. There are also transfer fees with each cryptocurrency and these will apply one you exceed 0.005 units of the respective cryptocurrency. A withdrawal fee of $5 is also applicable to all accounts and a minimum withdrawal amount of $30 applies. To see just how these fees compare with another operator, check out our FPMarkets review 2023.
Our eToro review Australia found that the online operator has offices in the UK, Cyprus, USA and in Sydney. This allows them to extend their services to just about anywhere in the world and the Australian service that is provided is licensed by the Australian Securities and Investments Commission (ASIC). eToro crypto trading and trading of other options is backed by an Australian Financial Service License #491139. This makes it completely legal for eToro to operate within Australia and offer their services to any Australian citizen who manages to meet the terms and conditions of their service.
There are limits to trade crypto on eToro and these will be associated with the minimum deposit that can be made to transact with your account. If you have just opened an account, you will need to deposit an amount between $50 and $10000. If you are on the market for a different offer, be sure to check through our cryptocurrency brokers page where we take a look at all the brokers who offer crypto trading.
If you are not on the market for eToro crypto, you will most likely be looking for other trading options. With an ever-expanding market, it is common for online trading operators to provide a host of services which allow customers to have a broad investment portfolio within their service. The most common trading option would be stocks and exchange traded funds. This allows customers the ability to buy and sell shares or stocks for listed companies that they are interested in. There is also a wealth of learning resources available on the eToro site to inform customers exactly how their stock trading service works.
Another common trading option found within our eToro review is CFDs. Contract for difference trades link an individual with a CFD broker who will settle the difference between open and closing trade prices. It is the most common method used to trade commodities, indices, currencies and stocks. CFDs do not actually give the customer ownership of the asset and is simply an agreement of cash settlement once the closing value is determined. CFDs also allow customers to apply leverage to their trades and gain exposure with minimal capital. If these trading options are not exactly what you were hoping for, be sure to head to our Plus500 review where we take a look at another reputable online service provider.
eToro has managed all that it set out to accomplish. It has disrupted the reliance on traditional financial institutions and allows customers from anywhere to have the ability to trade as they please if they meet the terms and conditions of the service. All the boxes seem to be checked with eToro and the only minor disappointment that our team managed to find was that the entire service is offered with only one currency option. This is definitely not reason enough to rank the operator negatively and any interested customer will certainly not be disappointed with what is on offer.
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