eToro has strengthened its presence in Australia with the launch of AUD accounts, offering users a more localised experience on the global trading platform. The update brings a host of new features aimed at improving how Australians invest, including reduced currency conversion costs, interest on cash balances, recurring investments, and instant bank transfers.

The introduction of AUD accounts allows Australian users to deposit, hold, withdraw, and invest directly in their local currency. Investors can now fund trades using either their AUD or USD balance, eliminating the need for automatic USD conversion. When trading ASX-listed stocks in AUD, users can avoid conversion fees entirely.

For trades involving USD-traded assets, eToro is offering significant discounts on currency conversions, with fees starting at 0.75% and potentially dropping to 0.15% depending on the user’s eToro Club tier. These reductions give investors greater flexibility in managing currency exposure as part of their investment strategy.

eToro Launch of AUD Accounts and Reduced Currency Fees

Australian users currently earn up to 4.05% interest on USD balances, and with the introduction of AUD accounts, they will also earn interest on their AUD holdings. Users can access over 200 additional ASX-listed companies, further expanding investment options.

Recurring investments are now available in Australia, enabling automated purchases of stocks, ETFs, and cryptoassets at regular intervals. This feature helps users steadily work toward their financial goals without placing manual orders.

Additionally, eToro will soon allow deposits of BTC, ETH, USDC, and XRP from external wallets, which can then be converted to AUD for reinvestment, withdrawal, or spending. An upcoming Open Banking integration will also enable instant bank transfers directly within the eToro app.

Doron Rosenblum, Executive VP of Business Solutions at eToro, said: “The introduction of AUD accounts enables Australian investors to reduce costs, manage currency exposure, and gain greater control over their trading experience.”

Robert Francis, Managing Director at eToro Australia, added: “These updates empower Aussie investors to exercise sophisticated control over their investments and achieve more with their money.”

The phased rollout of AUD accounts will begin with existing eToro users, followed by new clients, marking another step in eToro’s commitment to delivering a tailored, world-class investing experience in Australia.

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