Plus500 vs eToro: which suits Australian CFD traders in 2026?
For straight CFD and forex trading from Australia, Plus500 is the cheaper and more local choice; eToro is built for a different job. Plus500AU Pty Ltd (ASIC AFSL 417727, LSE-listed FTSE 250 parent) runs AUD-denominated accounts with no currency-conversion fee on AUD deposits, no withdrawal fee, and tighter forex spreads (around 0.6 to 0.8 pip on EUR/USD). eToro (eToro AUS Capital Limited, ASIC AFSL 491139) holds accounts in USD, so AUD deposits are converted at 0.5 to 1.5 percent, charges a USD 5 withdrawal fee, and quotes wider forex spreads (around 1 pip on EUR/USD). Where eToro genuinely wins is what it does that Plus500 does not: CopyTrader social trading and commission-free real share and crypto investing. If you want cost-effective CFD trading in AUD, choose Plus500. If your goal is copy trading or owning real shares, eToro is the different tool for that job. CFD Service. Your capital is at risk.
Same ASIC licence type, two different jobs
Plus500 and eToro are both ASIC-regulated and both popular with Australian beginners, but they are not really built for the same trader. Plus500 is a focused CFD broker: forex, indices, commodities, shares and crypto as CFDs, on a clean platform, priced in Australian dollars. eToro is a social-investing platform whose draw is copy trading and commission-free investing in real shares and crypto, with CFDs alongside. The right answer depends on which of those you actually want.
Choose Plus500 if:
- You want cost-effective CFD and forex trading priced in AUD
- You want to avoid currency-conversion and withdrawal fees
- You value an LSE-listed FTSE 250 parent on top of ASIC regulation
- You want tighter forex spreads than eToro quotes
Choose eToro if:
- Copy trading other investors is your main reason for joining
- You want to own real shares and crypto, not just CFDs
- You want social and community features around trading
- You are comfortable holding a USD-denominated account
At-a-glance comparison
| Feature | Plus500 | eToro |
|---|---|---|
| ASIC licence | AFSL 417727 | AFSL 491139 |
| Backing | LSE-listed FTSE 250 parent | Privately held |
| Account currency | AUD | USD |
| AUD deposit conversion fee | None | 0.5% bank, 1.5% card |
| Withdrawal fee | None | USD 5 (min USD 30) |
| EUR/USD spread | ~0.6 to 0.8 pip | ~1 pip |
| Inactivity fee | USD 10/mo after 3 months | USD 10/mo after 12 months |
| Copy / social trading | No | Yes (CopyTrader) |
| Real shares and crypto | No (CFDs only) | Yes (commission-free) |
| Best for | Cost-effective AUD CFD trading | Copy trading + real investing |
Fees: where Plus500 wins for Australians
For an Australian funding an account and trading CFDs, the cost difference comes down to currency and spreads.
Plus500 holds your account in Australian dollars. You deposit AUD through PayID, Osko or card, no currency conversion happens, and there is no withdrawal fee when you take AUD back out. Its forex pricing is spread-based with no commission, and EUR/USD typically runs around 0.6 to 0.8 pip during liquid hours.
eToro holds your account in US dollars. That single design choice creates costs an Australian does not have at Plus500. AUD deposits are converted to USD at 0.5 percent on a bank transfer and 1.5 percent on a card, and you pay a USD 5 fee on every withdrawal with a USD 30 minimum. eToro's forex spreads are also wider, around 1 pip on EUR/USD. None of those are hidden, but together they make eToro the more expensive way for an Australian to trade CFDs.
eToro's one fee advantage is its inactivity charge, which only kicks in after 12 months of no login, against Plus500's 3 months. That matters if you plan to park an account and walk away, but not if you are actively trading.
What eToro does that Plus500 does not
Cost is only half the picture, because eToro is not really trying to be the cheapest CFD broker. Two things it offers that Plus500 does not are the real reason people pick it.
The first is CopyTrader. eToro lets you automatically copy the trades of other investors on the platform, sized to your own capital. For someone who wants exposure without making every decision themselves, that is a genuine feature with no equivalent at Plus500, which is a place to make your own trades.
The second is real investing. eToro lets Australians buy real shares and real crypto commission-free, so you actually own the asset. Plus500 offers share and crypto CFDs only, which track the price with leverage but never transfer ownership. If your goal is to build a long-term holding of real shares, eToro does that and Plus500 does not.
So the honest read is that eToro and Plus500 only partly compete. If you want copy trading or real-asset investing, Plus500 is not the tool and the fee comparison above is beside the point. If you want to trade CFDs and forex cost-effectively from Australia, Plus500 is the better-built, cheaper option.
Regulation: both ASIC-licensed
Both brokers are licensed by ASIC and both apply the standard Australian retail protections, including segregated client funds and the leverage caps on CFDs. Plus500 operates as Plus500AU Pty Ltd under AFSL 417727, with the added transparency of a parent company, Plus500 Ltd, listed on the London Stock Exchange in the FTSE 250 and publishing audited accounts. eToro operates as eToro AUS Capital Limited under AFSL 491139. Neither has a regulatory issue that should worry a retail trader; the difference is the public-company disclosure that comes with Plus500's listed parent, which no privately held competitor matches.
Who wins on specific use cases
- Cost-effective CFD and forex trading from Australia: Plus500. AUD account, no conversion or withdrawal fees, tighter spreads.
- Copy trading: eToro. CopyTrader is its signature feature; Plus500 has nothing like it.
- Owning real shares or crypto: eToro. Plus500 is CFDs only.
- Brand and corporate transparency: Plus500, on the strength of its LSE-listed FTSE 250 parent.
- Mobile-first CFD trading: Plus500. Its app is one of the highest-rated in the ASIC CFD set.
- Lowest possible CFD cost for an Australian: Plus500, once currency conversion and withdrawal fees are counted.
Final recommendation
If you are here to trade CFDs and forex, Plus500 is the better choice for an Australian, mainly because it keeps your account in AUD and strips out the conversion and withdrawal costs that come with eToro's USD account, while quoting tighter spreads and carrying an LSE-listed parent. That is why Plus500 ranks at the top of the best CFD brokers in Australia list.
eToro is not a worse platform, it is a different one. If what you actually want is to copy other traders or to own real shares and crypto commission-free, eToro does those jobs and Plus500 does not, so go with eToro for that. But for the cost-effective CFD and forex trading this comparison is about, Plus500 wins.
Read the full Plus500 review for the detail, or see how it compares with the ECN brokers in Plus500 vs Pepperstone and across the field on the best forex brokers in Australia ranking.
Frequently asked questions
It depends on what you are trying to do. For cost-effective CFD and forex trading, Plus500 is the better fit for Australians: it runs AUD accounts, charges no currency-conversion or withdrawal fees, quotes tighter forex spreads, and has an LSE-listed parent. eToro is better if your priority is CopyTrader social trading or commission-free investing in real shares and crypto, which Plus500 does not offer. They are both ASIC-regulated, but they are built for different jobs.
For CFD and forex trading, generally yes. Plus500 holds accounts in AUD, so there is no currency conversion on AUD deposits and no withdrawal fee, and its EUR/USD spread runs around 0.6 to 0.8 pip. eToro holds accounts in USD, so AUD deposits are converted at 0.5 percent (bank transfer) to 1.5 percent (card), it charges a USD 5 withdrawal fee, and its EUR/USD spread is wider at around 1 pip. For an Australian funding in dollars and trading CFDs, those eToro costs add up.
Yes. Plus500 is operated in Australia by Plus500AU Pty Ltd under ASIC AFSL 417727, with a parent company listed on the London Stock Exchange in the FTSE 250. eToro is operated by eToro AUS Capital Limited under ASIC AFSL 491139. Both segregate client funds and provide the standard ASIC retail protections. On regulation they are comparable; Plus500 adds the public-company transparency of an LSE-listed parent.
No. Plus500 does not offer copy trading or social trading. eToro's CopyTrader, which lets you automatically mirror other investors' trades, is its signature feature and the main reason many people choose it. If copy trading is what you want, eToro is the right platform. If you want to place your own CFD trades cost-effectively, Plus500 is the cleaner and cheaper option.
Only eToro offers real share investing. eToro lets Australians buy real shares and crypto commission-free, alongside its CFD products. Plus500 offers share CFDs only, which track a share price with leverage but do not give you ownership of the underlying stock. For owning real shares, eToro or a dedicated ASX broker is the right choice. For trading share, index, commodity and forex CFDs, Plus500 is built for that.
For CFD trading in Australian dollars, Plus500. Its AUD account avoids the currency-conversion fee eToro charges on AUD deposits (0.5 to 1.5 percent), it has no withdrawal fee against eToro's USD 5, and its forex spreads are tighter. eToro's one fee advantage is its inactivity charge, which starts after 12 months versus Plus500's 3 months, but that only matters if you stop trading entirely. For active trading, Plus500 is cheaper for Australians.
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