eToro vs Plus500: 2023 Comparison
But where Robinhood gained success by making trading accessible through its low-cost, simple trading app, eToro focuses on making trading accessible through copy-trading. That said, if education and learning is a priority for you, neither of these two brokers have much to offer. EToro clients will need to wait 7 days after funds are deposited before they can withdraw them. After this holding period, the withdrawal can take up to two business days.
Users from the EU and Norway are clients of the company’s subsidiary Plus500CY Ltd., and as such get up to €20,000 coverage, however, Professional account owners do not get this insurance. The offering of investments could be better but is above average. etoro vs plus500 The stock price went up almost 240% over the last three years, and the company’s revenue is following that trend of growth like a good duckling follows its mom. Webinars covering a range of topics including trading, market analysis, technical analysis.
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Use its own trading platform and does not offer any other alternative. Both platforms look modern and are easy to use or navigate, however, both lack professional research tools, comprehensive fundamental data while analysis is rather basic. Plus500 offers a wider range of instrument selection compared to eToro, however all are traded as CFDS. While eToro primarily a Forex and CFD broker, but also offers trading services with real Stocks, ETFs, and Cryptocurrencies. EToro offers live webinars that cover a variety of trading topics, including market trends, trading psychology, and technical analysis. Plus500 does not offer live webinars, but it does provide pre-recorded video tutorials on its education center.
The competition between high-end brokers is extremely tight, which is why traders sometimes have a difficult time choosing one broker over another. Bitcoin is more stable than other cryptocurrencies and may work better as a long term investment, but smaller coins like Stellar may offer more exposure to volatility for day trading. CFDs, or Contracts for Difference, are agreements between the user and broker to exchange the difference in the value of an asset between when the position was opened and when it closes. Conversely, buying cryptocurrencies involves actually purchasing and owning actual tokens (i.e. bitcoins). Both platforms are highly functional and secure but offer slightly different feature sets and fee structures that are suited to different types of users.
There are other differences too though; for example, Plus500 has more platforms available on their site. Not only do they offer more, but their numbers are also better based on the table above. It also offers ahuge list of CFD instrumentsacross several markets withattractive spreads on forex pairs.
Due to regulatory restrictions, neither eToro or Plus500 offer welcome bonuses and sign-up incentives. Instead, each trading brokerage highlights its suite of educational materials and copy trading services . Currency conversion and Guaranteed Stop Orders also incur charges at both firms.
These explain the basics of trading and the difference between different platforms. It is very important to mention that for both platforms, before proceeding with a withdrawal, it is important to send the necessary documents of identity and proof of residence to the broker. There is a search option which allows you to the enter the name of a market and look for it.
This data is based on the most recent information that we have gathered from these 2 brokers. Plus500 has live chat, a FAQ section, email and even WhatsApp available. On the flip side, eToro is the better choice for traders that are looking for a more hands off approach with their copy trading capabilities. We’ve compared more than 100 variables and features so you can see the pros and cons of eToro and Plus500 side by side. We’ve divided the comparisons into a logical structure so it’s easy to navigate.
Plus500 is more suitable for experienced traders and those looking for a low fee option. The Plus500 platform is popular with casual investors due to its clean design and emphasis on simplicity. However, the platform lacks advanced features that more advanced traders may require.