eToro has announced its expansion into Australia and introduced AUD accounts to strengthen its local presence and expand services for local partners and customers.
Following this announcement, the platform will now allow users and customers to deposit, hold, and invest directly in AUD, bypassing conversion to USD, as this upgrade aims to provide them with optimised control over their currency exposure while reducing transaction costs as well.
In addition, users will be given the possibility to fund AUD trades directly, especially when buying ASX-listed assets, without incurring conversion charges. Furthermore, eToro has also introduced interest on AUD balances in order to match the existing interest rates on USD holdings, as the AUD account rollout will proceed in phases, prioritising existing users before opening to new ones.
More information on eToro’s expansion in Australia with AUD Accounts and new ASX Stocks
According to the press release, this move aligns with eToro’s ongoing strategy to localise offerings in key markets. Through the process of eliminating mandatory currency conversions, users will gain a streamlined trading process and reduced fees, while the update aims to ensure a more flexible and cost-effective experience for those active in local equities. At the same time, eToro has added over 200 Australian Securities Exchange (ASX) stocks, allowing customers to access a broader range of domestic companies and diversify their portfolios, as well as the possibility to focus on regional opportunities.
These stocks are currently available through direct AUD funding, a process that aims to remove the need for foreign exchange charges. This will also complement the platform’s strategy to deliver competitive pricing and a localised user experience, as the wider selection will support different initiatives and promote broader market access. Furthermore, through the process of boosting the number of ASX stocks, eToro is set to strengthen its offering for users who seek to invest in Australia’s capital markets. The integration is expected to support both short-term and long-term approaches, as eToro aims to become a central platform for building diversified portfolios across global and local assets.
At the same time, eToro has introduced a recurring investment tool in the region of Australia, enabling automatic purchases at regular intervals and giving customers the possibility to automate the buying of stocks, ETFs, and cryptocurrencies to support consistent investing strategies. This feature was also designed to improve long-term financial planning, as the initial limits start at USD 25 per transaction with a maximum of USD 25,000 monthly. The tool is not available for CFDs, CopyTrading, or SmartPortfolios, but users can use this feature to remove the manual burden of repetitive buying. The recurring investment tool is expected to add efficiency and support disciplined wealth-building methods, as well as help users follow structured approaches while removing emotional decision-making as well. eToro also developed this feature in order to support wider adoption of automated trading functions in the region.
According to CoinCentral, eToro will integrate Spaceship into its main application, aiming to optimise convenience and portfolio management. In addition, eToro also plans to launch Open Banking-powered instant bank transfers, enabling customers to fund accounts without leaving the app interface.
eToro now supports direct crypto deposits in Australia for Bitcoin (BTC), Ethereum (ETH), USDC, and XRP, giving customers the possibility to convert these assets into AUD, reinvest them, or withdraw as needed. This feature aims to simplify crypto trading and add to user flexibility.
