EToro Review + Top Alternatives & Competitors

eToro is an Israeli social trading and multi-asset investment company that focuses on providing financial and copy trading services. Its headquarters are located in Central Israel, and the company has registered offices in Cyprus, the United Kingdom, the United States, and Australia.

eToro crypto exchange

eToro offers a crypto exchange that supports trading in 30+ cryptocurrencies, as well as an online brokerage platform with a limited selection of stocks and exchange-traded funds (ETFs). This platform’s social features and active community make it a good option for people who prefer a more communal trading experience. But if all you want is a reasonably priced crypto exchange, eToro’s high trading fees may seem a bit steep.

Pros

• Platform offers an engaging communal experience
• Cryptocurrency holdings may be transferred off the platform
• Comprehensive educational resources

Cons

Not available in New York, Hawaii, Minnesota and Nevada
Limited customer service

eToro trading fees

Is eToro worth it? eToro trading fees are low.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We chose popular instruments within each asset class:

• Stock index CFDs: SPX and EUSTX50
• Stock CFDs: Apple and Vodafone
• Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

• 20:1 for stock index CFDs
• 5:1 for stock CFDs
• 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for eToro fees.

Advantages of trading with eToro:

• the minimum transaction amount for copying is $1;
• handy functionality for passive investing;
• regulated by independent monitors;
• it is possible to purchase contracts for fractional shares (that is, to invest amounts less than the cost of one share);
• it is possible to buy shares at once (not CFDs) on the US stock exchanges.

Disadvantages of eToro:

• high spreads;
• periodic technical failures in order execution;
• lack of the most popular platforms such as MetaTrader 4 and MetaTrader 5 in Europe and the CIS;
• no access to ECN systems, orders are processed only according to the STP (straight-through processing) scheme with access to
• specific liquidity providers;
• there is a commission for withdrawing funds;
• impolite support staff;
• inconvenient website.

Best Crypto Exchanges

Despite recent setbacks, cryptocurrency has remained a wildly popular new asset class for investors. Among the top Google searches, Bitcoin beat out TikTok, Apple and NFL.

At last count, there were more than 20,000 cryptocurrency projects worldwide, and there are now around 295 million crypto users in total, according to Debthammer, with 20% of them located in the U.S.

 

Is eToro better than Robinhood?

Robinhood and eToro have several things in common. Both are online discount brokers created to provide platforms for everyone to have access to trading without excessive fees. Both brokers also focus on providing simpler self-directed investing by incorporating innovative technology. Finally, both brokers were industry disruptors with eToro entering the industry in 2007 and Robinhood following a few years later in 2013. 

There are, of course, important differences beyond this. While transparency is part of eToro’s culture, Robinhood has been slow to lift the veil on some of the ways it makes money. Moreover, while neither eToro or Robinhood offer a robust collection of advanced research and trading tools, eToro does offer more than Robinhood in this area. On the flipside, Robinhood customers can trade cryptocurrencies for free, but eToro charges a 1% trading fee for crypto trading. We’ll look deeper at these two trading platforms to help you decide which one is a better fit for your portfolio needs.

 

EToro vs. Coinbase

Coinbase and eToro both allow users to trade cryptocurrencies, but costs, platform capabilities and crypto selection varies.
Coinbase and eToro are both powerful platforms for cryptocurrency traders. Below, we’ll compare these two crypto platforms head-to-head to help you decide which option is best for you. Generally speaking, users will find the widest selection of crypto options at Coinbase, but trading and transaction fees can be higher. EToro stands out for users who want guidance about their investments through the company’s social investing feature, which offers the ability to copy trades made by other investors. eToro also offers access to stocks and ETFs.

 

eToro vs. Binance

Which Crypto Exchange Is Right for You?

eToro and Binance are two well-known cryptocurrency platforms. The biggest difference between the two is that eToro is a cryptocurrency broker. It sells crypto alongside other investment products such as stocks, fractional shares, and ETFs. Binance is a cryptocurrency exchange, which means it sells a wide range of digital assets, including cryptos and NFTs, and other services. Read our full comparison of eToro vs. Binance to learn how they stack up in terms of fees, products, security, and more.

 

eToro vs Revolut

Comparison at a Glance

Value for money is one of the most important metrics that one should take into account while comparing cryptocurrency exchanges, as it shows whether the brand offers acceptable quality compared to the price. In this case, eToro has a higher value for money score than Revolut.

It’s also very useful to look at the number of active users. Clearly, if comparing eToro vs Revolut, the bigger active user base is gathered by Revolut with around 17M users. Whereas eToro has around 200K active users. If we look at the cryptocurrencies that are accepted by these exchanges, we can see that eToro has a higher number of acceptable crypto than Revolut.

It’s also important to do a thorough cryptocurrency exchange fee comparison. Analysing this metric in this eToro vs Revolut comparison, it’s clear that eToro has the lowest trading fee percentage of 0,1% – 0,75%, while the second place goes to Revolut with a fee of 2.5%.

If comparing only eToro vs Revolut, Binance may seem like the winner, but if these brands are measured against all the cryptocurrency exchanges in the industry, that’s not the case. That’s why you can clearly analyze how these two brands compare to the best-rated crypto exchange – eToro. It’s evident that eToro wins this eToro vs Revolut & can offer you better quality features.

eToro vs Crypto.com

Cryptocurrency Exchange Comparison

Value for money is one of the most important metrics that one should take into account while comparing cryptocurrency exchanges, as it shows whether the brand offers acceptable quality compared to the price. In this case, eToro has a higher value for money score than Crypto.com.

It’s also very useful to look at the number of active users. Clearly, if comparing eToro vs Crypto.com, the bigger active user base is gathered by Crypto.com with around 10M users. Whereas eToro has around 200K active users. If we look at the cryptocurrencies that are accepted by these exchanges, we can see that eToro has a higher number of acceptable crypto than Crypto.com.

It’s also important to do a thorough cryptocurrency exchange fee comparison. Analysing this metric in this eToro vs Crypto.com comparison, it’s clear that eToro has the lowest trading fee percentage of 0,1% – 0,75%, while the second place goes to Crypto.com with a fee of 0.16%.

If comparing only eToro vs Crypto.com, Binance may seem like the winner, but if these brands are measured against all the cryptocurrency exchanges in the industry, that’s not the case. That’s why you can clearly analyze how these two brands compare to the best-rated crypto exchange – eToro. It’s evident that eToro wins this eToro vs Crypto.com & can offer you better quality features.

 

eToro vs. Uphold

Which cryptocurrency exchange is better?

Both eToro and Uphold are registered exchanges based in the US. They both offer cryptocurrencies, stocks, commodities and staking opportunities for users.

eToro offers users Copy Trading, meaning they can copy the trading habits and portfolios of successful trades. Uphold offers users a Mastercard debit in addition to a wider crypto asset selection and one-stop trading page.
Uphold offers a greater selection of cryptocurrency coins and tokens than eToro, with both offering Ripple (XRP). Apart from having more cryptocurrency support, Uphold also has more trading pairs than eToro. Uphold users can also swap between any two supported assets on the platform, meaning you can trade crypto assets for commodities, equities, fiat and cryptocurrency.

 

Which Crypto Exchange Should You Choose?

There are many factors to think about when choosing a cryptocurrency exchange, but for many investors, things like liquidity, ease of use, and whether the exchange operates in your area should likely be top of mind. Those considerations could save you time and money right off the bat.

While not all crypto investors will have the same specific priorities when it comes to choosing a crypto exchange, a majority of people in the crypto space may consider the following variables — in the following order — to open an account, and start trading.

Crypto exchanges are complicated, and choosing the right one for you and your goals requires some due diligence. It helps to know what kind of crypto you plan to trade (not all types of crypto are available on every exchange), and to set up a crypto wallet.

When choosing a crypto exchange, you also want to consider the fee structure, overall security, whether or not the exchange operates in your given jurisdiction — and how easy the exchange is to use.

There are a lot of things to take into account, but remember that your money and assets are at stake, so choosing the right exchange does warrant some time and attention. Another way to start investing in crypto is via a custodial platform like the SoFi Invest® brokerage app. You can set up an Active Invest account easily and securely, and from there add your crypto account and start trading!

 

eToro Usability

eToro has a straightforward, simple design that makes it easy for traders to find what they’re looking for. The app and website experience provide similar functions and features, so users can seamlessly transition to trade through their preferred version. The new eToro Options platform is also easy to use.

The CopyTrade tool lets you quickly search for and copy the crypto trades of popular investors. Traders can engage with other members of the platform through the Popular Investor Program, which facilitates the sharing of trading insights and knowledge. Popular Investor Program members are compensated the more copiers they have, Payouts can reach up to 2% of the amount of assets a trader has on the platform. 

A social news feed adds another interactive element to the experience, with the site functioning much like a distinct social media feed. Trading decisions and news can also be shared to external social media sites such as Facebook and Twitter.

Also read :

• Humanode : Cutting-edge Crypto Network Based on Human Biometrics
• How to Sell NFT on Instagram?
• How do you calculate profit in cryptocurrency trading? + Crypto Calculator
• Is Floki Inu a Good Investment? How to Buy?
• Robinhood Adds Aave and Tezos (XTZ)