CFD Broker

I was testing Plus500 in the hours when the market was most active. I saw that this CFD platform has a really a low floating spread on currency pairs.

It is a very attractive rate in the present market. On top of that, Plus500 does not charge commissions from traders so you only have to count their share of the spread when evaluating costs.

	ASIC Licensed Plus500 Minimum Deposit: AU$200 Many assets to choose from
	OPEN ACCOUNTPlus500 Disclaimer: 77% of retail CFD accounts lose money.

As a CFD trader, there are certain crucial factors to be aware of, when picking a trading platform:

• Is it licensed and regulated?
• What reputation does it have?
• Does it trade the sort of assets you are interested in?
• How is the usability of the platform?

The list goes on quite a bit.

But one particular concern we want to focus on, is what it would actually cost to trade with your CFD platform. That is usually a matter of spreads, commissions, and swap rates.

The latter refers to the fees charged for overnight trading and are irrelevant to day traders. These costs can vary from one platform to the next.

Features of Plus500 Australia

Plus500 is a CFD provider and of a very high standard as well. It offers traders CFDs over thousands of financial instruments which include all popular currency pairs (including AUD/USD).

You can also trade CFDs over shares, ETFs, commodities, and indices spanning over 20 international markets.

Australia is an important market for Plus500 and that’s why they added Australian ETFs and Shares to the platform. You can trade the ASX200 and individual Australian shares like Commonwealth Bank of Australia, Telstra Corp and many more.

To open an account, you would have to deposit a minimum of AU$200 on your first deposit.

One of the more unique and appreciable features of Plus500 is that it does not rely on an aggressive sales team, or any sales team for that matter.

To put that into context, most other service providers will forward a trader’s information to an aggressive sales team.

With Plus500, prospective traders are only needed to finish the application process and make their deposits. If you are one of those traders who cannot stand an aggressive sales pitch and would like to explore forex trading in your own time, Plus500 is a prime candidate to be your CFD provider.

Managing risk with Plus500

A risk factor is part and parcel of online trading and it tends to catch up with just about every trader who has been involved in the market long enough.

But the mark of a good platform, is in offering traders various managing devices to alleviate the level of risk as much as possible. This inevitable makes trading more lucrative for the traders as well as the platform.

Plus500 Disclaimer: 77% of retail CFD accounts lose money.

When it comes to trade executions, you can set a price level for ‘Close at Profit’ or ‘Close at Loss’ for certain assets there for cutting back considerably on the level of risk involved in trading them. This security device is rare among most other platforms. You can also set a price alert to notify you when the market reaches a certain buy or sale price.

Furthermore, Plus500 offers traders the benefits of a trading stop which has been devised specifically to secure your profits. A trailing stop, once it has been placed on an open trade will seal the profits by closing the position at a different level from what you placed initially. It effectively limits ‘downside’ risk without requiring you to keep track of the position yourself and switch the stop price.

Additional features

Plus500 was among the first CFD providers, to extend trading on leverage to bitcoin after it became accessible as a CFD in 2013. Mind you, you can trade bitcoin on a demo account here too.

You can access the Plus500 online platform in 32 separate languages so it does appeal to a greater variety of clients.

All traders using Plus500 are entitled to its free demo account where they can trade without risking any of their personal funds for an unlimited period. It is a crucial feature of most reputable trading platforms.

If you are looking for something else, make sure to check out eToro.

Deposits & withdrawals

These transactions can be handled by credit cards, bank wire transfers, Skrill, and Paypal.

The minimum deposit on Plus500 for Australian traders is only $200.

Customer Support

Customer service from Plus500 is on hand 24 hours a day 7 days a week. There is no phone service, only email and a live online chat.

Trading Platforms

This platform has a WebTrader platform and also the Plus500 proprietary CFD trading platform that displays all the crucial details in information in just a single screen so it is very convenient for traders. You refer the four top tabs that are clearly labeled to access information about past trades as well as present positions without actively searching for them.

The platform is accessible in 2 versions:

• there is the web-based version
• and a mobile version for mobile trading

A downloadable version is not available.

All 2 are consistent with each other so switching between them is absolutely seamless. This is another rare feature to find among other platforms. Traders also have access to features like advanced technical analysis devices, guaranteed stop loss etc.

The trading platform is very reliable and offers very competitive spreads, leverage up to 1:30, and no trading commissions whatsoever.

It is important to note here, particularly for CFD traders, that the risks involving leverage are extremely high. If they are not estimated correctly, you could end up losing your whole capital.

So understanding the risks here is key to deciding which strategy to go with while trading.

Binary options is not offered on Plus500. You can take a look at the binary options Australia page for sites that do offer binary options trading.

Is it a Good Broker for Australian Traders?

Plus500 is a well-recognised provider of Contracts for Difference (CFDs) in Australia, offering a range of financial instruments for retail traders. With over 2000 financial instruments, including stock, commodity, and forex CFDs, Plus500 is a great trading app for Australians.

One of the benefits of trading with Plus500 is that they are regulated by the Australian Securities and Investments Commission (ASIC), which is one of the most respected financial regulators in the world. This means that Plus500 is subject to strict guidelines and oversight to ensure that they are operating in a fair and transparent manner.

In addition to regulatory oversight, Plus500 also offers a range of trading features that can be appealing to Australian traders. For example, they offer competitive spreads and leverage ratios, allowing traders to potentially increase their returns on investment. Plus500 also has a user-friendly platform that can be accessed on desktop or mobile devices, making it easy for traders to monitor their positions and execute trades on the go.

My Verdict – Plus500 Australia

Plus500 is one of those platforms that can be commended beyond the usual strong points of other top-rated sites.

The trading platform has unique qualities that make it very user-friendly.

After more than a decade of activity, it is very definitely one of the best CFD providers you can choose. Yet, it still offers trading assets that would appeal to traders of currency, shares, commodities etc. And being an approved by so many renowned financial institutions, you can be assured a fair trading experience.

Plus500AU Pty Ltd (ACN 153301681)is licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.

OPEN ACCOUNTPlus500 Disclaimer: 77% of retail CFD accounts lose money.

eToro is a social trading platform that was established in 2006. The company has offices in Sydney (ETORO AUS CAPITAL PTY LTD), London, Cyprus, Tel Aviv and other cities.

The broker has a unique proprietary trading platform that is very user-friendly.

eToro Australia Review 2023

The central vision behind eToro was to design a trading platform that appeals to most traders. For this reason, they created the CopyTrading feature which lets you copy the trades of successful traders. Currently, eToro is one of the top shares. CFD and forex trading brokers, accepting traders from Australia and other countries.

	ASIC Regulated eToro Minimum Deposit: $50 CopyTrading
	OPEN ACCOUNTAFSL 491139.Capital at risk. See PDS and TMD.

A large part of eToro’s positive reviews is due to its licensing and regulation under multiple government authorities such as CySEC, FCA, and MiFID. The network now offers trading opportunities to over 5 million users in over 170 countries.

You can trade real shares CFDs with this platform. Trade CFDs at your own risk, because more than half of retail investor accounts lose money when trading CFDs.

eToro lets you buy shares on multiple stock exchanges including Nasdaq, London, Amsterdam and much more.

Best eToro Alternatives

There are many good brokers in Australia. Take a look at the following alternatives and compare them to eToro:

AFSL 491139.Capital at risk. See PDS and TMD.
Plus500 Disclaimer: 77% of retail CFD accounts lose money.

eToro Accepts Australian Traders

eToro is regulated by ASIC and other regulatory bodies. This means that they can legally operate in Australia.

ASIC regulation also means that eToro must follow strict guidelines. For this reason, eToro is considered a safer option compared to alternative brokers without an ASIC license.

eToro Review – The Trading Platform

The original trading platform for eToro was focused primarily on novice traders. However, eToro has been constantly incorporating new elements, to become the all-inclusive award-winning platform that it is now.  eToro can be accessed on Android and iOS devices, as well as PC/Mac.

Also read this:

• Highlow Review
• IG Market Review

With with trading platform, you have the possibility to copy the portfolios of other traders. This is also called social trading and looks like this:

This might be a good idea, especially if you are new to trading.

eToro offers many risk management tools. For example, you can set a stop loss to your trades. This way you can add protection to your investments and limit your losses.

I don’t recommend trading with leverage if you are new to online trading. You can lose money rapidly due to leverage, if you don’t have the necessary trading experience.

Assets and Markets on eToro

There are many assets that you can trade on Etoro.

Real Shares with 0% commission

eToro offers real share trading, which is a great option for investors who think that CFDs are too risky. Australian traders can buy shares available on the US stock exchange with 0% commission.

The platform includes all popular US shares like Tesla, Apple, Facebook and even UK shares like Aston Martin and easyJet.

The 0% commission does not apply to CFDs or US traders.

In addition, eToro does pay dividends. A drawback with shares trading on eToro is that they do not offer the option to transfer your shares to another broker. eToro is a trading platform and not an exchange. For this reason, you can only buy and sell the shares within their platform.

Forex

Forex was the first asset class, eToro offered because it launched as a forex broker in 2006. Many traders still use eToro for forex exclusively, and it is still an important asset for the platform. If you are looking for bigger profits, you can even try leverage.

ETFs, Indices and Commodities

If you are interested in iShares, Vanguard and SPDR ETFs, they are all available on the platform (for example the iShares Core MSCI World UCITS ETF). Commodities like Oil, Gold and Copper are also part of the list of assets on eToro.

If you want to invest in indices, eToro offers AUS200, SPX500 and many more.

Cryptocurrencies

Cryptocurrencies like Bitcoin, have been one of the hottest assets lately.

Some banks make it hard to deposit or withdraw money from offshore crypto exchanges like Binance. For this reason, many traders choose trading platforms like eToro to buy their cryptocurrencies.

The list of available cryptos is getting longer every few months. At the time of writing this review, there were 16 cryptocurrencies available on eToro.

The list includes: Bitcoin, Ethereum, Ripple but also smaller coins like Binance Coin and Tezos.

Trading cryptocurrencies is available to each account type.

Beginner traders should avoid CFDs with this provider (or any other CFD broker). You have high risk of losing money rapidly due to the nature of this investment type.

Deposits and Withdrawals

Trading with eToro is possible in U.S currency and there are no fees for USD deposits. If you make a deposit in any other currency, it will convert automatically to the default currency on receipt.

How To Make A Deposit on eToro

Here is the list of payment methods you can use to make a deposit:

• Visa/Mastercard
• Diner’s Club debit/credit card
• Bank wire transfer
• Yandex
• Skrill
• Neteller
• PayPal
• Webmoney
• China Union Pay

Some deposit methods are limited to certain countries. This is how my account looks like:

In addition they accept deposits in the following currencies: AUD, EUR, GBP, RMB, THB, IDR, MYR, VND, PHP.

To open an active trading account with eToro, you will be prompted to make a minimum initial deposit anywhere from $50 to $1000. The specific amount is subject to regulations in the region the trader resides.

Using Neteller, you can make a lower deposit of $50. The maximum, you can deposit with Neteller is $10,000. The same minimum values apply for GiroPay and Webmoney but the maximum deposit amount can be between $30,000 and $50,000. The maximum amount with Yandex is just only $5,000.

How To Make A Withdrawal on eToro

The first step to make a withdrawal is to fill out a form on the cashier front of the platform. eToro will then keep you informed on the process by email.

The typical online payment systems that are used to make withdrawals are credit cards, PayPal, and bank wire transfers. eToro will also charge a fee for each withdrawal depending on the amount.

The process of withdrawal, requires a trader to first fill out a withdrawal form on the cashier section of the platform. The trader will then receive confirmation of the process via email. The most prevalent methods for making withdrawals are by credit card, PayPal, and bank transfer, in that order.

The first withdrawal, requires the trader to upload a clear, colored copy of their passport along with their written signature. Additionally, they must upload a clear copy of a utility bill that displays the trader’s residential address and is under 3 months old.

Furthermore, if the account was funded via a credit card, a clear copy of both sides of that credit card should also be submitted. A withdrawal typically takes up to 5 days to process, but could take longer depending on the method implemented by the third party.

eToro charges a fee for withdrawals depending on the amount. The withdrawal fee on eToro is $5, regardless of the amount.

Customer Support

eToro customer support is available between Monday and Friday, 24 hours a day and can be accessed online. A web-based ticketing system and a help center is available to all traders.

Unfortunately, we are not aware of the availability of a live chat service at this broker for standard accounts. Only eToro Club members can use the live chat feature.

eToro customer service is available in English, French, German, Spanish, Italian and other languages.

Unfortunately, the eToro customer support is no available on weekends.

Is My Money Safe With eToro?

eToro is considered being a trustworthy broker, because it is regulated by these regulatory bodies: ASIC (Australian Securities and Investment Commission), CySEC (Cyprus Securities and Exchange Commission), FCA (Financial Conduct Authority – UK),  MiFID (Markets In Financial Instruments Directive).

The broker was been providing its services since 2006.

In addition, eToro uses an advanced version of Secure Socket Layer technology to authenticate data transfers and protect users.

Is eToro Australia a Good Broker?

Are you interested in international share trading? If yes, consider this trading platform.

eToro is certainly one of the most competent and reputable brokers to trade with, whether it is forex trading or social trading. The eToro trading platform is easy to use and there are different types of trading accounts. Beginner traders will love the clean layout of the platform.

On the other hand, CopyTrading is an amazing eToro feature that you might want to check out.

On top of that, this social trading platform offers outstanding education programs for novice traders to pick up the pace. There are plenty of resources available to new traders including a trading academy, eCourse, blog and live webinars for new traders to enhance their knowledge about trading.

What is the downside of CFD Trading on eToro and other brokers?

While trading contracts for differences (CFDs) can offer the potential for high returns, it’s important to understand that CFDs are also extremely risky and not suitable for all traders. One of the main downsides of CFD trading is the potential to lose more money than you initially invested.

When you trade CFDs, you are essentially borrowing capital to make a trade. This means that if the trade goes against you, you could end up owing more money than you initially invested. In fact, according to eToro, 81% of retail investor accounts lose money when trading CFDs with their platform.

It’s also worth noting that CFD trading can be complex and difficult to understand, especially for new traders. There are a number of factors that can impact the price of a CFD, including underlying market conditions, volatility, and leverage. Traders who are not well-versed in these factors may be at a disadvantage when trading CFDs.

My Verdict – eToro Australia

eToro’s all-inclusive, award-winning platform and mobile app provides traders with plenty of excellent trading opportunities.

Remember that trading CFDs is a high risk-high reward investment, so be careful with them (an investment strategy might be a good idea).

eToro also provides special prizes to its most successful traders. They can enter competitions containing cash prizes, and they can also have their activities followed by other traders. The more followers a trader has, the bigger the cut they will receive from eToro.

Overall, the only identifiable downsides to eToro are the lack of a live online chat service and a 5-day wait on the withdrawal process.

OPEN ACCOUNT
AFSL 491139.Capital at risk. See PDS and TMD.

eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. OTC Derivatives are leveraged financial products and considered speculative. OTC Derivatives may not be suitable for all investors. You don”t own the underlying assets. You risk losing all of your investment. This information is general only and has been prepared without taking your objectives, financial situation or needs into account. Consider our Product Disclosure Statement (PDS and TMD). See full disclaimer

To ensure that you make the best decision when choosing a good broker, this article takes a closer look at Go Markets Australia.

By going through the information compiled here, you will be able to determine whether or not a particular broker is right for you. So, without further ado, here are all the details you need to be aware of.

	ASIC Regulated GoMarkets Minimum Deposit: $200 AUD Base Currency
	OPEN ACCOUNT

The Products

When you open up an account with Go Markets, you have the opportunity to trade over 90 different products. These fall under the categories of:

• Forex
• Indices
• Metals
• Commodities
• Cryptocurrencies

If you want to trade forex, there are up to 50 different currency pairs. To top this off, you will also have access to leverage up to 30:1. As for indices, you can trade 12 cash CFDs and get leverage. With metals, you can trade silver and gold without actually needing to own them. Instead, the CFD option allows you to trade on the price movement alone.

The same CFD principle is applied to both commodities and cryptocurrencies. As such, there is no need to purchase or own the underlying asset. Rather, your trades can be based on the more cost-effective approach of the price movement.

The Platforms

Signing up with Go Markets means that you can utilise either of the popular trading platforms MetaTrader4 or MetaTrader 5. In particular, this broker was fundamental to bringing this platform to Australia in the first place. Over the years, the broker has grown alongside the platform, ensuring that traders can have the best possible experience.

With MT4, you have the opportunity to trade either indices, forex, commodities, or binary option. There are built-in indicators that analyse any and all movements in the market, giving you a more detailed picture of the situation. You also get the full use of any Expert Advisors, making it simpler to trade automatically. This platform is quite useful for the trader on the go as well, since it can be downloaded onto many mobile devices.

Now with the MT5 trading platform, you get many of the same benefits as the MT4, with a few other bonuses thrown in. This includes one-click trading, market depth of current prices quotes, and allowances for hedges. The platform supports copy trading too.

It should be noted that both these trading platforms are equipped with demo accounts. As a result, you can practice your trading with up to $50,000 in virtual funds. While you practice, you will have access to leverage up to 30:1 and real-time spreads.

A good alternative to GoMarkets is Plus500. Read the Plus500 review here.

Trading Tools

Along with the platforms, you will also have several trading tools to work with. These options include MT4 Genesis, Myfxbook, and Autochartist. In general, these tools will help you enhance each trade. They will provide you with more information and assistance, increasing your chances of success.

Account Types

With this broker, there are just two accounts to select from: the Standard and the GO Plus+ account. As the name suggests, the Standard account is suitable for traders with low or medium trading action. The minimum deposit required is $200. From this, you get to enjoy no commission at all and spreads from 1 pip. The minimum trade size is 0.01 lots and you can enjoy leverage up to 30:1. Traders who open this account have access to trading tools and 24/5 support.

If you want to be involved in high trading volume, though, the GO Plus+ account might be a better pip. While this account offers the same features as the Standard, there are some key differences. To start with, there is a $500 minimum deposit. However, you get RAW spreads from as little as 0.0 pips and only have to pay $3 per side on a standard lot. If that isn’t enough, you get tailored services from a dedicated account manager.

Licensing and Regulation

One of the main benefits of signing up with this broker is that it is regulated by the ASIC. As such, it is required to adhere to all the benchmarks and requirements laid out by this regulatory agency. This makes it a great deal easier to trust the trade options offered by Go Markets.

Furthermore, it should be noted that the broker also keeps client funds in separate accounts. Therefore, you can be certain that none of your funds will be used by the broker for its own purposes. So, should anything happen to the broker’s finances, you will have peace of mind, knowing that your money will remain untouched.

Is easyMarkets a good broker?

When it comes to evaluating a broker like easyMarkets, there are several factors to consider, including regulatory oversight, trading conditions, and customer support. Based on these factors, it appears that easyMarkets is generally well-regarded in the industry.

First and foremost, easyMarkets is regulated by the Australian Securities and Investments Commission (ASIC), which is one of the most respected financial regulators in the world. This means that easyMarkets is subject to strict guidelines and oversight to ensure that they are operating in a fair and transparent manner.

In addition to regulatory oversight, easyMarkets also offers competitive trading conditions, including a maximum leverage of 1:400. This can be a double-edged sword, as high leverage can increase both potential profits and losses, but it’s ultimately up to the individual trader to decide whether or not to use leverage in their trading.

Finally, easyMarkets also offers strong customer support, including 24/5 phone and email support as well as a live chat feature on their website. They also have a range of educational resources available, including webinars, trading guides, and market analysis, which can be helpful for both new and experienced traders.

Educational Materials

If you are only just starting out in the forex market, you will be happy to know that this broker offers a number of different educational resources. This includes free education courses and a handbook. The support doesn’t stop there, however. There are also tutorials on how to use the MT4 platform.

Should you require further assistance, you could contact one of the many experts employed by Go Markets. They will offer you advice regarding trading techniques and more. These professionals can also teach you how to read the various charts and to become a better trader, in general.

Deposits and Withdrawals

Cash transactions with any broker are undeniably important. Thus, it is fortunate that there are so many options to select from with this broker. You can make payments with bank transfers, credit cards, and third-party payment options like Poli, Neteller, and Skrill. Your withdrawal options will depend on the kind of account you open with the broker.

As for charges, there are no internal depositing fees with this broker. Now, while the broker doesn’t charge internal fees for withdrawals, certain costs may still appear. This is due to the regulations set by the banking institution that you are using for such transactions. So, in this manner, you may incur certain charges.

These are the main features you need to understand about this broker. In conlusion, Go Markets is suitable for a number of different traders, regardless of the instruments or features you are interested in.

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