eToro Review Australia – Is The Copy Trading Feature Really Helpful?
Hello everyone, In this eToro review Australia, we will have a three-dimensional view of all the key aspects of the eToro crypto exchange and the technical details which are often left undiscussed.
Every crypto trader, no matter how smart or experienced, must have experienced strong fatigue of research.
The amount of detailed market analysis and research that goes into creating a sustainable and long-term crypto investment portfolio is known to every trader and the time it takes is another backlash that traders have to face.
eToro Review Australia – Do They Really Provide Insurance For Your Crypto Assets?
How good would it be if an industry expert could allow you to give a peek at his portfolio so that you could cut short your research plans and utilize the expertise of that expert?
Well, now eToro could be the thing you were looking for. In this eToro review Australia we’d dive deeper to know what eToro is and how it is changing crypto trading.
Key Points On eToro Exchange
◾ eToro is a US-based trading platform based on copy trading and social trading that allows its user to utilize the expertise of established traders.
◾ eToro is only available for cryptocurrency trading, which is by its very nature quite volatile and hence could land on either side of the return spectrum.
◾ A lot of cryptocurrency options are available to trade from the platform of eToro, which means that you will not have to go through the hassle of having 2-3 trading platforms for buying even the most popular blockchain projects.
◾ eToro is not too complicated to start with and saves a lot of time by letting you avoid the unending cycle of research and analysis.
◾ eToro offers the expertise of successful crypto traders without paying a hefty investment consultation fee
What Is eToro Australia?
eToro is a copy trading platform specially designed for the needs of crypto investors and deals in only cryptocurrency as of now.
eToro exchange offers you a time-saving tactic of copy trading in which a novice crypto trader or those traders who want to avoid the clutter of research can inspect, analyze, and copy the exact same portfolios of the professional and successful crypto trading experts.
This is a proven tactic to reduce the trading risk by assigning the hefty task of research to those to whom it belongs, experts.
eToro crypto exchange was founded in 2006 as a brokerage company and introduced the option of CFD in 2013, from there the foundations for creating a blockchain-specific copy trading platform were built, and in 2022
eToro is the industry leader when it comes to copy and social trading platforms.
eToro Supported Coins
eToro trading platform and wallet have different compatibilities when it comes to supporting crypto coins. On one hand where eToro’s crypto wallet support Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Stellar for global users and additionally Tron for US-based users to send, receive, trade, and swap.
On the other hand, the eToro trading platform supports over 120 blockchain currencies with a holistic coverage of all the major crypto projects in the market.
This wide range of support of crypto coins allows eToro users to diversify their crypto portfolios and reduce the risk of losing all their assets in a single currency crash.
120+ crypto support is solid for a copy and social trading platform.
eToro Features & Advantages
In this section, we will dive deeper into the advantages and features of eToro. We will inspect and analyze the key features and highlights so that you can make a smart decision by reading this eToro Review Australia.
eToro exchange is one of those crypto trading platforms that provides a legitimate way of securing your assets through an insurance policy.
Each user of the eToro crypto exchange gets automatic coverage of asset insurance from the world’s leading insurance solution, Lloyd’s of London.
This insurance provides coverage of up to 1 million AUD. This way of securing the digital assets of its users without the need for any additional registration is one of its kind on a scale trading platform.
With a claim of being the world’s leading social trading platform, eToro’s user base expands to millions of users across 140+ countries.
With the social trading platform of eToro Australia, one can have an account in a trading platform that has social-media-like features including a feed that is filled with daily updates about the crypto market and stats that will tell you about the fail and success ratio and will help you monitor your Risk Score.
One of the key highlights of eToro Australia is its copy trading features. Copy-trading allows the eToro users to create a portfolio by copying it from an expert’s one which will cut out the time needed to do immense research and analysis for creating a portfolio on your own.
It brings to you the expertise of experienced and successful crypto traders that teach you the ropes of how an effective crypto portfolio must be deployed and managed.
eToro also facilitates its users with features like Robo Trading. How cool it would be if a robot could reach out to you with only the relevant data and advice you about how the market is going to react in the upcoming days, well, this is exactly what Robo trading is and eToro users can benefit from this feature for avoiding the need to go through tons of surveys to predict a trend tomorrow because now AI is here to aid.
eToro User Experience
When it comes to the overall user experience side of eToro Australia, in general, rating one can see the trend being really positive, which means the user base of eToro is generally happy with the experience provided by this trading platform.
With an easy-to-access and beginner-friendly user interface, eToro stands out in terms of low efforts needed to overall crypto investments.
With a wide variety of crypto coins being available to trade and premium insurance on all of your assets, being able to have a look at others’ portfolios through social trading adds layers to the overall user experience of eToro exchange.
The general notion in the market about the future of social trading platforms is also quite positive and the overall user experience of eToro makes it just the right choice for Australians who are looking out for such solutions.
So if you are looking for a platform with a cleaner UI and a good user interface, eToro Australia will surely not disappoint you.
eToro Australia Safety And Security
With a global user base of more than 13 million users, eToro is undeniably responsible for a secure and safe user environment.
On one hand, where eToro adheres to the strict security standards of global regulatory agencies including FINRA, FCA, CySEC, and ASIC Australia, on the other hand, they go an extra mile in securing your funds through world-leading insurance that too up to 1 Million AUD.
With both hot and cold storage facilities, eToro claims no access to any employee in cold storage crypto transfer and deploys basic but important security features of 2-Factor Authentication.
Advanced encryption and masking technologies add another layer of protection. So if you are looking for a safe and insured trading exchange in Australia, you can go for eToro.
eToro Australia Fees
Like many other trading exchanges, sometimes it could become hard for its users to understand the aspects of fee structure.
Hence, in this eToro Review Australia, we will try our best to simplify this aspect for you.
Like any other good crypto trading exchange, eToro does not take a cut from any of the depositions you’d made on the platform.
With no hidden charges on deposits, they are completely free in eToro.
A transparent fee of 1% is charged on withdrawal of your crypto assets by eToro.
As soon as you start buying crypto coins on eToro, a loss in position could be noticed that loss in position is due to the fact that your trading and withdrawal or selling fee has already been deducted from your holding and you do not need to pay these fees in fiat.
With a clear mention of 1% as the trading fee on its platform, eToro charges more than most trading platforms out there in the market.
However, the value of that 1% is not included in the transactional price of your trade but the overall 1% of the crypto assert that you are going to buy and hence this makes it different from other crypto exchanges out there, they do not add the amount to the bill as the price shown in the index is added with this 1% of trading fee already.
eToro Pros And Cons
Like any genuine product present in the market, eToro Australia has its own pros and cons and in this eToro Australia review, we are covering a few of them.
- With the lowest trading starting from $10, eToro takes care of all the beginner traders who are not willing to spend a fortune on the starting
- Clean, simple, and easy-to-use user interface that can be used even by novice traders
- Mobile app support for both Android and iOS, with apps being feature-packed and highly rated over their app store
- Features like copy trading and social trading features are available
- Wide range support of cryptocurrencies, blockchain tokens, and NFTs
- Customer support could utilize some improvements
- Sometimes the verification and withdrawal processes could be time taking due to a huge user base
eToro Customer Reviews And Complaints
With overall customer rating being on the positive side of the spectrum, eToro enjoys the trust and goodwill of its users.
Most of the eToro customer reviews on different platforms about eToro’s user interface, security, privacy precautions, copy trading, and social trading facilities are positive in their nature.
However, like any honest review, the downsides of those reviews include a higher trading fee, a $200 AUD bar for copy trading, and not the best customer support.
Mobile apps of eToro are highly rated on both Android and iOS platforms.
Is eToro Legitimate?
Yes, eToro Australia is a completely legitimate and trustworthy platform that you can use to manage, buy, store, and trade your crypto assets.
With an overall trust score of 90+ out of 100 on Forex brokers, eToro is considered a safe and low-risk crypto trading platform.
With an overall user base of 13 million users, eToro is a legitimate trading solution.
eToro Australia Contact And Customer Service
With a detailed, user-friendly, and transparent website that elaborates all the details about the services offered by eToro, it manages to take care of most of the user queries.
However, eToro also offers an email support ticket option, but that is the only option that is available to free members and at an extra cost you can avail the benefits of a ‘Club Member’ that also includes a live chat option.
These features of eToro Australia make it a reasonably decent trading platform in terms of customer service but they can surely improve it.
How To Use eToro In Australia
Even though using eToro is not complicated, this eToro review Australia will cover the key steps to guide you through the process of using eToro in Australia.
Follow the below-mentioned steps to create an eToro account
Step 1: Open A eToro Account
To open an account on the eToro crypto trading platform, visit the eToro official site and from there you’d be redirected to a signup page, fill in all the details or log in with your Facebook or Google account.
Now follow the process guided by the website and you’d soon have a free eToro account.
Step 2: Verify Identity
To verify your identity with eToro you’d be asked to share an image of your identity card, name, and a selfie to ensure that you’re the person who’s eligible to create that account. Verification may take some time, but it will happen, eventually.
Step 3: Deposit Funds / Instant Buy
To deposit your funds or buy new assets, log in to your eToro account. Go to the market page and select your preferred coin and select trade.
Now select the ‘Buy’ if you want to buy new coins, enter the amount and select open trade.
You’d be asked to add funds that can be added through adding funds to your eToro wallet with 0% deposit fees.
Step 4: Storage
To store your crypto, login to your eToro wallet, go to your portfolio and select your relevant trading position, to transfer these funds to any other wallet, click on ‘Edit trade’ and select ‘Invested amount’, then you’d see a clear message with all the details required along with the withdrawal fee for executing the transaction.
From there you can move your crypto to your preferred store.
eToro Review Australia – Conclusion
eToro Australia could be the next trading market that will revolutionize the way how crypto is stored, shared, traded, and utilized.
With advanced features of copy trading and the concept of the social trading platforms are something that makes a huge difference and sets eToro apart from other conventional trading platforms.
We hope that this eToro Review Australia will be able to provide you with the insights that can help you to take a smart and intelligent decision in your crypto journey.
Is eToro trustworthy?
Yes, eToro is backed by strong, trustworthy, and legitimate sources, along with completely insured assets by Lloyd’s London.
Are eToro fees high?
Even though eToro is not the cheapest trading platform in the market, it provides a great value to its fee.
Is eToro good for beginners?
Yes, eToro is specially made for beginners with clean and interactive UI
How much can you withdraw from eToro?
The limit of withdrawal on eToro is a minimum $30 with no maximum limit of withdrawal. long-term