Quick Verdict
Swyftx may suit you if you want a crypto-focused platform with 440+ coins, lower fees (0.6%), demo mode, and Australian support.
Visit Swyftx →Affiliate link. Crypto is volatile — you may lose money. Not financial advice.
eToro may suit you if you want stocks and crypto on one platform, copy trading features, and a social investing experience.
Visit eToro →Affiliate link. Capital at risk. See PDS and TMD. Crypto assets are unregulated & highly speculative.
Head-to-Head Comparison
| Feature | |
|
|---|---|---|
| Founded | 2019 (Brisbane) | 2007 (Israel, AU since 2017) |
| Regulation | AUSTRAC Registered | AFSL 491139 (ASIC) |
| Cryptocurrencies | 440+ | 70+ |
| Other Assets | Crypto only | Stocks, ETFs, commodities |
| Crypto Fees | 0.6% flat | 1% spread + conversion |
| AUD Deposits | PayID, Bank, Card, POLi | Bank, Card, POLi |
| Deposit Fees | Free (PayID/Bank) | Free (may have conversion) |
| Inactivity Fee | None | $10/month after 12 months |
| Mobile App | iOS & Android | iOS & Android |
| Demo Mode | Yes | Yes (Virtual Portfolio) |
| Copy Trading | No | Yes |
| Social Features | No | Yes (social feed) |
| Learn & Earn | Yes | No |
| Customer Support | Australian-based | Global support |
Highlighted cells reflect our editorial opinion on relative advantages. All figures should be verified directly with each platform as fees and features may change.
Pros and Cons
Pros
- 440+ cryptocurrencies available
- Lower fees (0.6% vs ~1% spread)
- No inactivity fees
- Demo mode to practice trading
- Learn & earn crypto rewards
- Australian-owned with local support
- AUSTRAC registered
- Focused crypto experience
Cons
- Crypto only (no stocks)
- No copy trading feature
- No social investing features
- Smaller global presence
Pros
- Stocks, ETFs, and crypto on one platform
- Copy trading to mirror successful traders
- Social investing feed
- AFSL licensed (ASIC regulated)
- Virtual portfolio for practice
- Global platform with large community
- Established since 2007
Cons
- Higher crypto fees (~1% spread + conversion)
- Fewer cryptocurrencies (70+ vs 440+)
- $10/month inactivity fee after 12 months
- Crypto unregulated (no consumer protection)
- Global support (not Australian-based)
- Complex fee structure
Fees Comparison
This is a significant difference between the platforms:
Swyftx charges a simple 0.6% flat fee on all crypto trades. AUD deposits via PayID and bank transfer are free. There are no inactivity fees.
eToro has a more complex fee structure. Crypto trades have approximately a 1% spread built into the price, plus potential currency conversion fees. There's also a $10/month inactivity fee if you don't log in for 12 months.
For pure crypto trading, Swyftx is generally more cost-effective. eToro's value comes from access to multiple asset classes on one platform.
Cryptocurrency Selection
Swyftx offers significantly more cryptocurrencies:
Swyftx: 440+ cryptocurrencies
eToro: 70+ cryptocurrencies
If you want access to smaller altcoins or newer projects, Swyftx has a much larger selection. eToro focuses on major cryptocurrencies.
Unique Features
eToro offers unique features not found on Swyftx:
- Copy Trading: Automatically copy the trades of successful investors
- Social Feed: See what other traders are discussing and doing
- Multi-Asset: Trade stocks, ETFs, commodities, and crypto on one platform
- Popular Investor Program: Earn rewards for being copied
Swyftx offers:
- Demo Mode: Practice trading with virtual money
- Learn & Earn: Complete educational content and earn crypto
- Focused crypto experience without distractions
- No inactivity fees
Regulation & Safety
Both platforms operate legally in Australia but under different regulatory frameworks:
eToro holds an Australian Financial Services Licence (AFSL 491139) from ASIC. However, it's important to note that crypto assets on eToro are unregulated — the AFSL covers stocks and other financial products, not crypto.
Swyftx is registered with AUSTRAC for digital currency exchange services. This means they comply with Australian anti-money laundering laws.
Both platforms offer 2FA and other security features. Neither provides the same consumer protections for crypto that regulated financial products receive.
User Experience
Swyftx offers a focused crypto trading experience. The interface is clean and modern, with features like demo mode and learn-and-earn that are great for beginners. Australian-based support is available.
eToro is a social trading platform with a different approach. The social feed, copy trading, and access to multiple asset classes make it more of an "investing social network." This appeals to some users but can feel overwhelming to others who just want to buy crypto.
Affiliate links. Capital at risk. Crypto is volatile — you may lose money. Not financial advice.
Frequently Asked Questions
Is Swyftx or eToro better for beginners?
Which platform has lower fees?
Can I trade stocks on Swyftx?
What is eToro's copy trading?
Is eToro regulated in Australia?
Does eToro charge inactivity fees?
