9 Differences Between eToro and XTB

What are the differences between eToro and XTB? You will need to do some research and take some help from articles like this to make a proper comparison between two trading platforms like these two, eToro and XTB.

It is only when you know the key differences between them you will be able to make the right choice when it comes to selecting one of the two.

This article covers all of the major differentiating factors of these two platforms including, fees, spreads, trading instruments and more.

Typically, XTB is one of the largest stock exchanges in the world that offer forex and CFD trading.

The users of this platform can access more than 2000 financial instruments. This platform also offers the largest range of cryptocurrency markets to trade on and all of these come with extraordinarily competitive spreads.

You can even use this platform to trade currency pairs such as ETH/BTC and DSH/BTC and more. It offers a pretty decent set of intra-crypto pairs.

On the other hand, eToro is one of the most popular multi-asset platforms which are favored by the traders since it offers them the opportunity to invest in stocks, CFDs, as well as crypto assets.

This platform in fact leads the way in cryptocurrency trading with its lowest spread range starting from less than 1% for BTC.

This FCA regulated platform also offers the biggest range of crypto coins to trade as well as a reliable wallet service of its own.

9 Differences Between eToro and XTB

Differences Between eToro and XTB

Here are a few notable differences between eToro and XTB. Though the ultimate choice of the traders is a personal matter there is no harm in knowing how each of these two platforms suits the traders of different types.

This will not only make your choice much more informed and educated but will also enhance your chances to make more profits. And, this article will make things easier for you while making a direct comparison. So, here you go.

1. About

The eToro platform was launched in 2006 and since then it has been providing forex trading services. The headquarters of this company is in Limassol, Cyprus.

Over time, it has diversified its services and included CFD, social trading, commodities, cryptocurrencies, majors, indices, FTSE, energies, metals, and agriculture. Its unique copy trading is one aspect that makes it stand apart from the others.

On the other hand, the XTB exchange has been around in the market for a longer period, being established in 2002 and has been providing social trading services since then with its head office located in London.

This company offers all those services that eToro does and also offers some additional features to its users such as Web Trader, Mirror Trader, and MT4 Mac.

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2. Regulation

The eToro platform is regulated by multiple authorities such as the Financial Conduct Authority or FCA, the Australian Securities and Investments Commission or ASIC, the Cyprus Securities and Exchange Commission or CySEC, and the Markets in Financial Instruments Directive or MiFID.

On the other hand, the XTB platform is regulated by the FCA or The Financial Conduct Authority, CySEC or The Cyprus Securities and Exchange Commission, IFSC or The International Financial Services Commission, KPWiG or the Polish Securities and Exchange Commission, DFSA or The Dubai Financial Services Authority, DIFC or The Dubai International Financial Center, and FSCA or The Financial Sector Conduct Authority.

3. Mobile Apps

The mobile app of eToro is quite easy to use, though the inexperienced will take some time to get used to it. It is compatible with any iOS and Android device.

On the other hand, the mobile app of XTB is also quite intuitive and easy to use with the only difference being that it is not only compatible with any iOS and Android device but also supports Windows operating system.

4. Languages Available

You will get support from the eToro platform in multiple languages that include English, Spanish, French, German, and Italian.

In comparison, the XTB platform supports a few more language types such as English, Spanish, German, French, Czech, Chinese, Italian, Polish, Slovenian, Turkish, Portuguese, Romanian, Arabic, and Russian.

5. Fees and Spreads

As for the fees of eToro, the good thing is that they do not have any deposit fee or and commissions on trade. However, they do charge a withdrawal fee as well as inactivity fees on those accounts that are not used for more than a year.

When it comes to the spreads, the eToro platform only offers fixed spreads to their user which ranges between 1.0 pip and 5.0 pips, depending on the type of currency pairs used. As for BTC and ETH coins, the spreads are less than 1% and 2% respectively.

On the other hand, XTB does not charge any deposit fees, or commissions or inactivity fees but charges commissions on trade. As for the spreads, they offer both fixed spreads as well as variable spreads to the customers.

However, these are quite low in comparison to eToro ranging between 0.1 pips and 0.3 pips. As for the crypto coins, the same is 0.5% for BTC and 1.4% for ETH.

6. Available Markets

The users of the XTB platform will get access to markets that deal only with forex, CFDs and crypto. As for the European clients, depending on the location, they may also have access to real stocks and ETF markets as well.

In comparison, the users of the eToro platform usually will have access to real stock markets and CFD markets for commodities, indices and currencies. The users will also have access to ETFs and crypto assets, both real and CFD.

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7. Trading Opportunities and Conditions

If you choose XTB as your trading platform, you will be provided with a wide range of trading opportunities. It includes scalping and hedging.

Along with that, you will also get a lot of help from the expert advisors and direct market access. You can trade on this platform with a minimum of 0.01 lots and a maximum of 100 lots by making zero deposits or as little as $1 sometimes.

On the other hand, eToro will not offer such trading opportunities. The maximum and minimum trading amount of this platform is also high and variable in comparison to that of XTB being $1 to $25 minimum with a maximum of up to 20% of the equity depending on the type.

The minimum deposit required to make a trade on this platform is $200 in general but for the US customers, it is $50.

8. Payment Methods

One of the most significant reasons that the eToro platform is preferred over XTB is that it supports multiple payment methods.

You can choose any one method from the list that includes Apple Pay, BPAY, PayPal, wire transfer, Perfect Money, Yandex Money, Diners Club, JCB Card, Neteller, Rapid Transfer, Skrill, Visa, Webmoney, Swift, UnionPay, and Venmo.

On the other hand, XTB supports only PayPal and QIWI. However, in terms of account currencies, it supports EUR, USD, and GBP as opposed to only USD supported by the eToro platform.

9. Coin Support

When it comes to trading crypto coins, the list of supported coins by the XTB platform includes ADA, BTC, BCH, IOTA, LTC, NEO, DSH, EOS, ETH, TRX, XEM, XRP, XLM, XLM, and XMR.

On the other hand, the list of coins supported by the eToro platform includes ADA, BTC, BCH, BNB, DASH, ETH,  ETC, EOS, LTC, MIOTA, NEO, XLM, XRP, VET, and ZEC.

Which is Better – eToro or XTB?

There is no such thing as a better broker because whether it is eToro and XTB or any two other exchanges compared, each will come with unique characteristics and features.

It is all about which one of them will be a perfect fit for your trading needs better than the others. Therefore, it is both a subjective as well as an objective matter.

Objectively, it may seem that the eToro platform is more reliable based on the conditions and differences mentioned above.

However, if you look into things deeply you will see that XTB is not a bad choice either due to the fact that:

  • It offers a wide assortment of instruments to trade
  • It offers lower spreads on some of the most popular forex instruments and
  • It also offers demo accounts.
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If you are still confused then here are a few more facts and factors that will clear all your doubts.

Ideally, eToro is a platform on which you can follow different sectors as a trader. It offers more than 200 different stocks and allows its users to make CFD and currency trades.

And, if you want to work with a broker that is well-regulated, transparent, executes trades quickly, and offers quite a reliable customer service then XTB will be a good option for you to choose.

They also provide personalized education to the users through seminars with external professionals and expert traders. You will get the best guidance according to your individual state of affairs.

In addition to that, you can also take help from their dedicated educational feature, the Trading Academy. This comes with loads of materials that will educate you to become a better and more successful trader.

You can hone your trading skills in every stage and step of your journey with the intuitive articles, video tutorials, and trading courses.

As for the trading platforms, when you use the eToro platform you will be able to make trades through two trading platforms but if you use XTB, you will be provided with three such trading platforms.

However, if you want to research more and need to use more trading tools, eToro is the exchange that you should go with.

And, if you want to learn more about trading, once again it is eToro that you should consider going with because it not only offers a reasonably good range of educational materials but also offers a lot of tools that make it a better platform for the beginners in comparison to the XTB platform.

In a nutshell, the reasons to choose eToro can be enumerated as follows:

  • It is 15 years in business
  • It segregates the funds of the clients to ensure safety and
  • It is regulated by multiple financial authorities.

However, in comparison, the reasons to choose XTB as your trading platform are equally good with the only difference being that it has been in business for nearly two decades.

Conclusion

The choice and favoring one exchange over another is all about personal preferences. In order to make the right choice so that all your purposes are served, this article will help you to choose between eToro and XTB with poise.