eToro is an accessible trading platform that lets Australians buy U.S listed stocks. Unlike many traditional brokers, you don't need thousands of dollars to get started.
So how much money do you need to get started buying stocks on eToro? In this post I'm going to break down the eToro deposit minimums so you can get a better idea of whether this platform is right for you.
eToro Minimum Deposit in Australia
The minimum deposit amount for Australians on eToro is $50. You can deposit using PayPal, credit card, Neteller or Skrill. If you are looking to deposit using a wire transfer, then the minimum amount is $500.
eToro's First Time Deposit Minimum in Australia
eToro doesn't have a minimum first time deposit for Australian users. It's the same $50 deposit minimum. This means you don't need a huge amount of capital to get started. For example, a Charles Schwab trading account requires a minimum starting balance of $25,000! eToro is making investing in stocks more accessible to more people.
Minimum Share Trade Size
On eToro you can buy fractional shares. This means you can invest any dollar amount over $50 in a share – you don't need to buy a full share. This is super useful if you want to invest in companies like Apple or Alphabet where a single share can be over $1000!
The minimum you can invest in share purchase is $50.
You can join eToro for free
eToro is more than just a stock broker, it's also a social trading platform. This means that you can follow other traders, see the trades they make and even copy their trades as well. You don't need to invest in order to join eToro. You can open an account for free, even if all you want to do is follow other traders. It's a great way to learn more about trading and investing.
When you open a free eToro account, you get virtual funds that you can use to practice trade. So if you want to try out all the features on eToro, you can do it without needing to spend any real money.