Alternatives to eToro
eToro is known for zero-commission trading across 17 global markets, with a strong social trading community and auto-invest features. However, it uses a custodian model (not CHESS-sponsored), which means your ASX shares aren't held in your own name. You also can't access DRP or options trading. If you want CHESS sponsorship, lower US brokerage, or features like kids accounts and DRP, there are solid alternatives. Here are six platforms worth comparing against eToro.
CHESS-sponsored ASX trades from $3 and US from $0.99, plus options trading and DRP which eToro lacks.
- ASX brokerage minimum
- $3(eToro: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(eToro: custodian)
CHESS-sponsored ASX trades from $3 with fractional US shares and a lower US brokerage fee than eToro.
- ASX brokerage minimum
- $3(eToro: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(eToro: custodian)
ASX trades from $2 with kids accounts and auto-invest, though also custodian-held like eToro.
- ASX brokerage minimum
- $2(eToro: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian
CHESS-sponsored ASX trades from $1 with zero-commission US shares and options trading.
- ASX brokerage minimum
- $1(eToro: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(eToro: custodian)
CHESS-sponsored trading from $9.50 with DRP, kids accounts, and auto-invest for long-term investors.
- ASX brokerage minimum
- $9.5(eToro: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(eToro: custodian)
Community-focused CHESS-sponsored investing from $6.50 with kids accounts, DRP, and auto-invest.
- ASX brokerage minimum
- $6.5(eToro: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(eToro: custodian)
Common questions
Can I get CHESS-sponsored ASX shares instead of custodian-held like eToro?
Yes. Several Australian brokers offer CHESS sponsorship, meaning your shares are registered in your name on the ASX. This gives you direct ownership and access to company communications. eToro uses a custodian model, so switching to a CHESS-sponsored broker changes how your holdings are legally recorded.
Does eToro offer dividend reinvestment plans (DRP)?
No, eToro does not support DRP. If you want dividends automatically reinvested into more shares, you'll need a broker that offers this feature. Many CHESS-sponsored platforms include DRP, letting you grow your holdings without manual reinvestment.
Are there eToro alternatives with lower US trading fees?
eToro offers zero-commission US trading, but some alternatives match or beat this. Several CHESS-sponsored brokers offer US trades from $0 to $3, and some provide fractional US shares. Compare the US brokerage fees and whether you want CHESS sponsorship for your ASX holdings.
What features does eToro have that other platforms don't?
eToro's social trading feature lets you copy other investors' portfolios automatically. This is rare among Australian brokers. Most alternatives focus on direct investing, auto-invest, or low fees instead. If social trading is important to you, eToro remains one of the few platforms offering it.