8 Best eToro Alternatives in 2024
eToro is one of the most famous names in fintech investing applications, one that has garnered over 25 million users worldwide. While the broker operates in over 150 countries, it may only be available in some places and may not be suitable for some users.
What happens if eToro is not your cup of tea? Which exchange can deliver the same services and offerings while maintaining similar security and compliance standards? Failure to find a suitable alternative could result in an FTX situation.
This is where our guide comes in. We compiled not one but 8 of the best eToro alternatives that are suitable replacements. These exchanges offer just as many cryptos (some even more), cheap trading fees, and as many payment options as eToro.
Read on to find out what exchanges are on our list and which is most suitable for you.
The Best eToro Alternatives - Our Top 3 Picks
Looking for a quick answer? Here are our picks for the best eToro alternatives to use.
The Best eToro Alternatives - Key Metrics
The Top eToro Alternatives - Why They Made the Cut
The Best eToro Alternatives Reviewed
The Best eToro Alternatives in 2024
- Binance – Best Overall Option
- Coinbase – Best for US Users
- Bitpanda – Best for European Users
- Bitstamp – Most Secure Exchange
- Skilling – Best for Day Traders
- OKX – Best Exchange for Web3 Experience
- Capital.com – Best Platform for Trading Crypto CFDs
- YouHodler – Best Exchange for Novice Users
Top eToro Alternatives Compared
| Exchange | Number of Coins | Minimum Deposit | Trading Fees | Available Asset Types |
| Binance | 600+ | $10 | 0.10% | Cryptos, NFTs, Derivatives |
| Coinbase | 193+ | $10 | 0.60% | Cryptos |
| Bitpanda | 170+ | €1 | 0.025% – 2% | Cryptos, Indices |
| Bitstamp | 75+ | $10 | 0.50% | Cryptos |
| Skilling | 55+ | €100 | 0.10% + spreads | CFDs |
| OKX | 300+ | €1 | 0.10% | Cryptos, NFTs, Derivatives |
| Capital.com | 456+ | $10 | Dymanic | CFDs |
| YouHodler | 56+ | $100 | Dynamic | Cryptos |
Why Are Investors Searching for eToro Alternatives?
Regional Availability
While eToro offers services to users in over 200 countries, it may not be available everywhere. Moreover, regional exchanges may provide services that are more streamlined or suitable for users within a particular region.
For example, European users may prefer YouHodler because of the ease of transferring funds from a SEPA account to the exchange.
Trading Products
eToro is an investment-focused exchange, and while it offers some trading products, its suite is quite limited. Exchanges like Binance that offer a wide range of trading products like Futures and Options may be a more suitable option for core traders.
On the other hand, users may prefer the familiar feel of CFDs to more new-age crypto perpetuals and opt for platforms like Capital.com or Skilling.
Cheaper Fees
At 1% per transaction, eToro charges one of the highest fees in the industry. This quickly adds up for investors/traders who execute multiple trades daily. Add in significant trade volume, and the fees rack up very fast.
As such, users may opt for platforms with much lower fees, like Binance, which charges 0.10% or Bitpanda, which could charge even lower, depending on volume.
User Interface
eToro’s user interface is in no way clunky or convoluted; however, traditional investors may prefer the familiar look and feel of platforms like Bitpanda, which are closer to conventional wealth management platforms that offer crypto than crypto investment platforms.
Core traders may prefer the more straightforward interface of trading platforms like Skilling to eToro’s more robust interface.
eToro Exchange Vs. eToro Alternatives
eToro and its alternatives offer the same services, with slight variations here and there. The former is an investment-centric platform providing crypto brokerage services for over 100 cryptos, innovative tools, and investment products, like thematic portfolios.
Alternatives like Bitpanda are investment-focused platforms offering crypto brokerage services, innovative DCA tools and investment products like the BCI crypto indices.
Because eToro offers traditional investment products, it is well regulated by up to four regulatory bodies in jurisdictions across the globe. Alternatives like Capital.com are also highly regulated, offering highly regulated financial products like CFDs.
The differences between eToro and its alternatives begin with fees, options, and payment methods.
While eToro supports a few payment methods and maintains accounts solely in USD, platforms like Binance support more than 60 fiat currencies and 100 payment methods, thanks to its p2p marketplace.
Regarding investment and trading options, eToro offers crypto on the spot market and CFDs for short selling, while platforms like Binance and OKC offer robust lists of futures and options.
What Features to Look for in an eToro Alternative
Security
Whether you’re looking for an eToro alternative or not, security is paramount wherever financial information is transmitted and stored online. Ensure that whichever exchange you choose prioritises security by implementing SSL encryption.
The exchange should also have two-factor authentication features and encourage users to activate it.
Payment Methods
The ideal eToro alternative should support as many payment methods as possible. A bonus would be supporting cheaper payment methods.
eToro supports bank transfers, PayPal, wire transfers, credit card payments, Skrill, Klarna, Sofort, Ideal, and Neteller. While other exchanges in consideration need not offer support for all of eToro’s payment methods, they should provide cheaper or easier methods.
Currencies Supported
Global exchanges usually support more fiat currencies than regional ones; however, eToro is an exception as the broker only supports USD accounts; transfers in other currencies are usually subject to a conversion fee.
Hence, suitable alternatives have an advantage in supporting multiple currencies or at least supporting payment methods that process payments in other currencies at lower fees. Binance is an excellent example, as the exchange supports deposits in over 60 fiat currencies.
Bitpanda supports over 7 fiat currencies, most within the Eurozone, but USD is supported.
Regulatory Status
eToro is a highly regulated platform; hence, any suitable alternative must be as regulated and legally compliant.
All exchanges on our list are regulated and legally compliant. However, suppose the regulation is the most essential factor for you. In that case, platforms like Bitpanda, Capital.com, and Skilling may be more suitable as they are just as legally compliant because they offer highly regulated financial products.
This is not to say that more conventional exchanges like Binance and Coinbase are not legally compliant; however, cryptocurrency is still loosely regulated because of its novelty, so the regulatory landscape is still changing, and exchanges like Binance and Coinbase have found themselves in regulatory crosshairs because of the changing landscape.
Asset Selection
eToro lists over 100 cryptos, a selection that is not so wide compared to other global exchanges. This is one area where alternatives easily replace eToro; Binance, for example, lists over 600 cryptos, Coinbase lists over 193, Bitpanda lists over 173, and Capital.com lists over 400 crypto CFDs.
However, the focus shouldn’t be on whether an alternative lists more or less crypto than eToro; instead, it should be on whether the listing suits the particular audience and type of exchange.
A regional exchange that lists 50+ tokens can still be a more viable alternative to eToro if other factors work in favour of users and make the entire crypto investment process better than eToro’s.
Fees
The cost of using an exchange is the cumulative of all processes from deposits to conversion, trading, custody, and withdrawals. The ideal exchange should cost less than eToro, or at least the same.
At 1% per conversion, eToro is one of the most expensive exchanges on our list. Coinbase also charges 1% for direct conversions but has a trading platform that charges a maximum of 0.6% for trades. Conversely, Bitpanda charges 2% for conversions and 0.025% for trades on its terminal.
Where deposit fees are concerned, few exchanges offer the discount on fees that eToro does, as most payment methods are free from eToro’s end. In contrast, Binance charges 1.8% for credit card deposits while Bitpanda charges €1 for bank transfers; however, Skilling only charges for deposits made using Skrill, Neteller, and Binance Pay; all other methods are free.
Latest eToro Alternative News
- eToro partners with Bridgewise to launch a new thematic portfolio using AI-driven analysis to pick industry-leading stocks.
- eToro receives a Crypto Asset Service Provider (“CASP”) license from CySEC, which will allow it to provide regulated crypto services to all European countries through a signal entity
How to Open an Account on an eToro Alternative Exchange
For this part of the guide, we used Binance as the best alternative to eToro on our list.
1. Open an Account
Head to the Binance website and click on Sign Up to open a new account. Fill in the form with your name, email address and password. You can also sign up with your Google account or Apple ID.
2. Complete KYC
To verify your account and access all of Binance’s services, you must pass KYC by submitting a government ID and documents showing your address.
3. Make a Deposit
Once you’ve been verified, you can get some crypto into your account by either sending from an external wallet or by purchasing directly on the platform; Binance supports 60+ fiat currencies. Head to Buy Crypto and choose the payment method you wish to use, select a crypto you wish to buy and the amount and follow the prompts to proceed.
4. Purchase Cryptocurrency
Head to the Convert section to buy crypto directly or the spot market to set limit orders and trade.
Final Thoughts on eToro Alternatives
We explored the best eToro alternatives for people who may not be able to access the broker in their region or prefer not to and chose Binance as our best overall alternative because of the scale of its operations, the robustness of its offerings and products, and the breadth of its support for various fiat currencies and payment methods.
Binance also charges some of the lowest trading fees we’ve seen at 0.10% per trade, and lists over 600+ cryptocurrencies, a selection large enough to cater to even the most particular crypto investors.
If you live in the UK, you can deposit fiat into your Binance account to invest in cryptocurrency; otherwise, you can use the p2p market to find a payment method that is cheap and convenient.
To begin using Binance, sign up for an account.
Methodology - How We Picked the Best eToro Alternative Exchanges
The platforms covered in this guide were chosen through rigorous testing, research, and reviews. We paid attention to security, transparency, reputation, funding fees, deposit and withdrawal methods, and coin selection.
The platforms listed are the best we found in the various categories we listed them. For example, we found that Bitpanda supports fiat currencies for European nations, so we named it the best alternative for European users.
Check our why trust us and how we test pages for more information on our testing process.