Etoro vs Plus500 – 2024 Comparison Guide

There’s no doubt that profitable investors have to find the right trading platform between eToro vs Plus500.

The risk inherent in crypto trading can’t be left to chance or faulty technology. Fast transactions, low fees and a wide selection of assets are the things you’d want to look for.  

That’s why we put together this Plus500 vs Etoro review into simple writing.

Making a decision between eToro vs Plus500 is what most traders are now up against. With major brokers now offering crypto ETFs and their own proprietary wallets, making a decision is more difficult. 

What we will assess Plus500 vs Etoro on are the merits that make your trading worthwhile. 

Add in the option of scalping crypto. This eToro vs Plus500 review will give you the details. You’ll find which option is more widely used versus which is more suited to you personally.

Keep reading to learn more from our eToro comparison with Plus500 review. 

eToro vs Plus500: Which Platform Offers the Most Cryptocurrencies?

In this trading platforms comparison, we focus on your opportunities with crypto trading. Here’s what you’ll find:

eToro

eToro (see review) has a decent choice of crypto assets available for its users. The 21 crypto pairs eToro offers are set, meaning that only some of them can be bought and sold. Polygon, Dash and Algorand, for example, can only be sold by American participants. 

Bitcoin, Ethereum and Stellar, however, are widely available for round-house trading.

You’ll also find an eToro wallet where you can store crypto, and the wallet will connect with eToro’s trading platform. The wallet, however, is not made for spending but only transferring and storing the crypto you hold. 

Plus500

There are 22 crypto assets that you can find on Plus500 (see review).

These options include major tokens like Bitcoin and Ethereum. Polkadot, Tron and Solana are also available and give this broker one more token to buy and sell at will. You will not, however, own any of that crypto. 

The platform lacks its own wallet from which to store and convert crypto from.

Since Plus500’s crypto selections are CFDs, you are only trading price, nor can you later use the crypto you find for future purchases. Plus500 only gives you access to day trading but for crypto CFDs.

Comparing Crypto Selections

As you’ve noticed, Plus500 offers one more crypto asset than eToro does, but there are finer details to note.

Though you get one more token with Plus500, none of the crypto you trade is yours since you’re only trading price contracts. On the other hand, eToro has its own wallet. 

This enables you to actually own crypto and not just trade it.

How much risk you’re willing to take on dictates which is better for you. With CFDs, there are risks, but you’re never exposed to the actual crypto market. With a wallet, however, everything in it can be lost in a crypto collapse. 

eToro vs Plus500: Who Offers the Most Attractive Fees?

eToro

There is only one fee type for eToro crypto trading and comes in the form of a percentage of the whole order or its spread. Spread fees are written into the site’s price offers. It’s the difference between any ask and buy prices you find on eToro.

That cost is now a set percentage of 1.

Apparently, the spread acts in a manner that you’re always being charged 1% if you’re trading crypto.

Be sure to track your transfers as well. Though not clearly written, you might incur a fee of 2% when you transfer between different wallets, which includes eToro’s Money Wallet. 

Plus500

The fees on Plus500 are a bit more tricky to follow since the broker is a market maker.

Among other fee types, the spread is the broker’s core source of income, and this means that you pay the difference between the ask and the bid prices. Deposits and withdrawals, however, are free.

When you convert different crypto tokens, there’s also a fee.

This conversion fee happens whenever you change from one base currency to another, including to crypto. Positions that you hold overnight get charged, and this is common on swing trades. 

Comparing Overall Fees 

Here is a table summarizing the fees of the two brokers:

Fee type	eToro	Plus500
Commission	$2 on stocks (from August 2024)	Zero commission on all instruments
Trading fees	No direct trading fees	No direct trading fees
Spread	1% on crypto, varies for CFDs	Varies by instrument
Inactivity fees	$10/month after 12 months	$10/month after 3 months of inactivity
Withdrawal fees	$5 fee (min withdrawal US$30)	No fee
Other hidden fees	Foreign conversion, overnight CFD fees	Overnight funding, currency conversion

This table compares the fee structures of eToro and Plus500. While eToro imposes a $2 commission on stocks starting from August 2024, Plus500 offers zero commission across all instruments. Both platforms have inactivity fees, but Plus500 requires action sooner. Notably, Plus500 does not charge for withdrawals. Hidden fees apply differently between them.

In general, we could say that Plus500 is more cost-effective, but the difference depends on the trading habits and preferences of each individual.

Comparison of the Features Offered by eToro and Plus500

eToro

The same platform that eToro uses to provide services for stock and CTF trading is the same platform on which you’ll trade crypto. The platform’s general feel and navigation really depend on what you’re accustomed to or prefer.

This is because eToro doesn’t offer external APIs.

You can’t trade from its site through MT5 or TradingView.

Its proprietary platform, however, was created to streamline trading, so it’s still effective. What makes its platform unique from others is that it has a social community involved. It’s as if the eToro features create “social media trading.”

Your trading is completely private, but you can connect with other accounts and follow traders. 

Plus500

This network has its own proprietary trading platform but also connects with other options.

From TradingView, which is the leading web browser platform, you can access your crypto CFD account at Plus500. However, you won’t find a potential connection for MT4 or MT5. 

You will have access to a mobile version of its website platform also.

These Plus500 features enable you to trade from a mobile device or follow the markets through the same. 

Comparing Functionality 

Our eToro vs Plus500 analysis here is focused on flexibility and variety.

In this case, Plus500 allows you to connect to one of the most expansive-web platforms. This is TradingView, which trends news, offers technical analysis tools and connects your charts to an economic calendar. 

On eToro, you’ll be limited to its web platform, but whether you enjoy it or not is a matter of preference. If you do prefer eToro, then it’s worth learning how its web platform works.

The downside is that whatever you’re now used to won’t be available exactly as is when using eToro. 

Which Exchange Offers the Best User Experience? 

eToro

The eToro platform is flexible and offers an array of trading tools, but you’ve got to adjust and get familiar with them.

The key experience on this platform is actually a social one. The platform is a sort of community for investors to find followers and for users to copy the trades of successful investors. 

Plus500

What Plus500’s platform reliability fails to accomplish with its own web trading platform, it achieves with an integration into TradingView. There’s little need to argue how exceptional TradingView is.

You can access it as an app or go directly to a web browser to use it. 

Asking Which Experience Makes More Sense

The platform performance of eToro and Plus500 will come down to a personal decision you make.

Everyone’s rhythm and movements in the market are different. You can, therefore, download both platforms and then test them out as live demo accounts first. Then, see which one fits your style and preference.

Who Is More Reliable: eToro or Plus500? 

eToro

For all intended purposes, eToro continues to stand out in the investment marketplace. The security measures it takes offer you protection with SSL encryption and your option of activating 2FA authentication.

As for regulation, eToro is audited by CA, CySEC and ASIC.

Its reputation gives it leeway to operate in over 140 countries, including the United States. Its customer service is also active, but eToro might take time to get back to your inquiries. 

Plus500

Being registered as a viable commodity on the London Stock Exchange, Plus500 has a reputable name and a successful business model. For those looking for more crypto options, you’ll have it here but without actually owning any crypto. 

The broker is authorized by the Financial Conduct Authority, which gives Plus500 a proper expectation to operate on. The authorities that govern Plus500 include the FCA, CySEC and ASIC.

These agencies authorize Plus500 to transact in CFDs, which do cover crypto. 

Comparing Reliability

Both platforms have reputable trading features and are, as stocks, bought and sold on top exchanges. They are both hosting tens of millions of accounts, which is a substantial feat in the financial world.

In regards to the finer details, you might find Plus500 more responsive. 

Customer service on eToro is impressive, but there are a few reports about its hiccups and delays. As for trade execution, reports show that eToro remains effective, which could relate to the fact it only relies on its proprietary platform. 

Now, the trade execution of Plus500 might also have hiccups, but it being a market maker will be your biggest challenge. Market makers, regardless of what their websites state, can have extreme spreads, which cost a lot. 

Which Platform Is the Most Secure?

eToro

Depending on your account type, eToro will hold your money within a regulated bank or a secure money market. Your funds are, essentially, protected by the eToro’s partner banks that then insure the money with eToro.

Each account’s security features are conveniently set for mobile also. 

Your country and location dictate the final contract, but user accounts are typically provided protection should eToro go solvent. No large hack is referenced to by any major news outlet or journalist. 

Plus500

Account security is the first step you take when registering with Plus500. 

It begins with verifying your identity in order to defend the web platform from fraud.

The regulatory standing of Plus500 requires it to protect user data. Funds get protected through partnering banks, which is how Plus500 puts insurance on your funds. 

Client funds aren’t used for any purpose other than what account users activate it for.

There are no additional investments your money will go through. By storing your money in banks, Plus500 keeps it from being infiltrated in any single attack.  

Comparing Security

The trustability of Plus500 and eToro reveal they both do a great job of managing funds and keeping your money in accredited but separate banks. By doing so, the brokers’ funds are less exposed to infiltration since their accounts are divided up between different, protected accounts.

Who Has the Best Customer Service? 

eToro

EToro customer service does a great job, but it might get overwhelmed during your verification stage.

To put this into perspective, there’s currently 35 million users within eToro’s company profile. Getting in touch with customer service is, overall, simple and easy, and you have a few options to consider. 

Its website chat option allows you to search an automated database or speak with a real person.

It’s open 24 hours from Monday to Friday. You can also reach customer service through email, depending on your case. You can also try Twitter. 

Plus500

Plus500’s customer service is accessible 24/7.

At any hour, you can reach them with your ideas and concerns. WhatsApp and your private email are two routes from which you can get in touch with the service department. 

Based on user opinions on Plus500 and eToro, we’ve found Plus500 very responsive.

Online chat is an option, and throughout different platforms, this seems to be the quickest. Through online chat, you’re first prompted with automated responses but can also get a real person on. 

Comparing Customer Service

The user experience trading with eToro and Plus500 comes with solid customer service.

Online chat shows to be the most effective option for reaching their customer service reps. What beats eToro is that Plus500 reps work seven days a week on a 24-hour cycle. 

On eToro, you still have 24-hour support but only five days a week Monday through Friday. Five days is often enough since markets close on the weekends, giving investors their own free time. 

Conclusion: eToro or Plus500?

Based on our comparison guide, crypto traders benefit more on eToro than on Plus500.

Yes, there are plenty of impressive features through Plus500, but the cost you incur will outweigh the cost of operating on eToro. Additionally, it’s practical to have a crypto wallet to store crypto on, and eToro has one. 

There are two typical ways of trading crypto, which are the buy and hold strategy and the day trading, scalping strategy. Crypto is a suitable asset for a buy and hold, and this can only happen if you store these tokens in a wallet you own.

Yes, eToro is not only regulated and safe, but it gives you the option to store your crypto. You can then connect your wallet to its trading platform, where price scalping occurs.