Surely many investors wondered when they thought of choosing the Etoro or Binance exchange. Both of these exchanges are the most reliable and reputable brokers globally. Investiki would like to offer some comparisons to help new traders make their own decisions about choosing a trade. We will provide comparisons between eToro and Binance based on several critical criteria. This article will allow the reader to have a clearer view and save more time.
eToro vs Binance: Brief Biography
We will provide an overview of these two digital trading platforms.
eToro: world leader in copy trading
eToro is an online brokerage company founded in 2007 by Ronen Assia, Yoni Assia and David Ring. Etoro is recognized by many major financial institutions such as CySEC, FCA, AMF, ASIC, FSCS and ICF… This broker attracts more than 12 million users in more than 150 countries. He can be considered the pioneer in online brokers.
Etoro uses a web-based trading platform. This simple trading platform exploded in 2010 and created the leading trading social network. Etoro’s trading platform has attracted many investors who have invested up to 160,000,000 USD.
Through copy tools, beginner investors can copy trades made by experts. The CopyPortfolios and CopyTrader tools allow new investors to be very successful in trading. Although they are completely inexperienced in this field.
Binance: Best Cryptocurrency Trading Site
Binance was created in July 2017 by Changpeng Zhao. Binance is a cryptocurrency trading platform that hit the financial markets at the same time as the cryptocurrency boom. Although newly established, Binance is gradually becoming a world leader in cryptocurrency trading.
Following the ban on cryptocurrency trading in China, Binance has established its headquarters in Malta. At the same time, this exchange also moved its servers to Japanese territory. Binance has signed a memorandum of understanding with the Malta Stock Exchange to launch Binance Jersey in Europe. Currently, investors can trade more than 300 virtual currencies on this trading platform.
In addition, Binance has also developed its own cryptocurrency called BNB (Binance Coin). In 2020, the company made a total profit of $1 billion. This can be seen as evidence of Binance’s business boom.
eToro vs Binance: General Comparison Table
eToro and Binance are two trading platforms that allow users to diversify their investment portfolios. We follow the following general comparison table to get a multidimensional view of these two exchanges.
| Elements of comprasion | Etoro | Binance |
| Release Date | 2007 | 07/2017 |
| headquarters | Israel | Malta |
| regulations | CySEC, ASIC, FSCS, FCA, AMF, ICF | Maltese law |
| Financial instruments | 1. 16 cryptomonanias 2. + 2 000 stocks 3. 13 stock market indices 4. 250 ETF 5. + 50 currency pairs 6. 19 goods 7. Obligations |
+ 300 cryptocurrencies |
| Mobile Application | Yes | Yes |
| safety | 1. Data Integrity 2. SSL encryption 3. 2-factor authentication |
1. 2-factor verification 2. Google Authenticator 3. Safe asset fund for users |
| Social Trading | Yes | no |
| Business tip | Yes | no |
| costs | 1. Deposit fee: $0 2. Currency spreads: between 1 pip and 2 pip 3. Conversion fee: sometimes $25 4. Commodity spreads: between 2 pips and 10 pips 5. Withdrawal fee: $5 6. Inactivity: A fee of $10 per month after one year of non-use 7. Equity Commission: 0% 8. Spread on cryptos: from 0.75% 9. ETF and CFD Stock Fees: 0.09% 10. Spreads on indices: from 100 pips 11. Overnight commissions: 6.4% for purchases and 2.9% for sales |
1. Free registration and deposit 2. Withdrawal fees: – €1 3. Fixed commission: 0,1% 4. Management fees: 0.01% per day 5. Spread: between 0.25 and 7.95% |
| Minimum deposit | $200 | $10 |
| Service Client | 1. Tickets online 2. E-mail 3. Account Manager |
1. Email 2. Live Chat 3. Telephone |
| Unique features | 1. Copy Trading 2. OpenBook 3. Copy portfolio 4. Popular Investors 5. eToro 6. Mobile Trader |
1. Binance.com Platform 2. Binance Jersey 3. Trust your wallet 4. Binance Dex |