Best Forex brokers: eToro expands in Australia with new AUD accounts
Global multi-asset investment platform eToro has strengthened its presence in Australia by launching AUD-denominated accounts and expanding its offering to include more than 200 ASX-listed stocks.
- Chosen by 3 200+ local traders in the last 3 months.
- Traders earn on average 12% more per month vs other brokers.
The move allows local users to deposit, hold, withdraw, and invest directly in Australian dollars, removing the need for costly U.S. dollar conversions, InvestorDaily reported.
The company said the initiative aims to make investing more accessible to Australians and reduce foreign exchange friction.
“There’s really been a need for us to have an AUD account for clients to be able to trade Australian assets in Australian dollars,” said Robert Francis, eToro’s regional manager for Australia. “It’s the first step to grow the business here and start trading more Australian equities.”
The platform update also introduces lower conversion fees, plans to pay interest on AUD balances, and support for recurring investments across stocks, ETFs, and cryptocurrencies.
Expanding local offerings and future integrations
As part of its broader strategy, eToro plans to soon enable cryptocurrency deposits — including BTC, ETH, USDC, and XRP — from external wallets, with the option to convert them into AUD. The company is also developing an Open Banking solution for instant bank transfers and tighter integration with Spaceship Super, following its 2024 acquisition of the Australian investing app.
The changes reflect eToro’s long-term goal of localizing its platform while maintaining global functionality. The addition of ASX-listed equities and AUD accounts positions eToro to appeal to both retail and wholesale investors seeking an easier way to diversify portfolios domestically and internationally.
Market outlook and investor sentiment
Francis said investor sentiment remains upbeat as markets rebound toward the year’s end. “Every time Trump makes an announcement around tariffs, investors are buying the dip and being rewarded,” he noted, referencing improving risk appetite amid global trade headlines.
Meanwhile, local economic conditions — including softer-than-expected jobs data and rising speculation about a Reserve Bank rate cut in November — could further encourage Australians to seek higher-yield opportunities outside traditional savings.
Founded in 2007, eToro serves over 35 million users worldwide and provides commission-free trading across stocks, ETFs, commodities, and cryptoassets. The company said it remains committed to supporting evolving crypto regulation in Australia, emphasizing its readiness to comply with the federal government’s proposed digital asset framework under ASIC oversight.
In addition, we wrote that eToro EU authorized under MiCA for German crypto trading.
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