Broker comparison between eToro vs XTB
Do you want to figure out which is the better broker, etoro or xtb?
In the following table, you can compare the features of etoro and xtb side by side to determine the best fit for your trading needs.
Which broker is more reliable?
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction.
2.Does etoro or xtb have a lower transaction costs and fees?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we believe that etoro and xtb are both reliable. We analyze the reasons as following:
Forex broker introduction
General Information & Regulation
eToro was founded in 2007 as an online trading platform that was easy for traders, with graphical representations of different financial instruments. In 2009, eToro launched an intuitive trading platform for novice and experienced traders. eToro added a variety of stocks to its commodities, forex, and other asset trading services in 2013 and continued to expand its portfolio of cryptocurrencies in addition to bitcoin in 2017. In 2008, eToro officially entered the U.S. market, offering cryptocurrency trading services to U.S. investors. Currently, eToro subsidiaries are regulated by the following authorities: eToro (Europe) Ltd., authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10; eToro (UK) Ltd, authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263; eToro AUS Capital Limited authorised by the Australian Securities and Investments Commission (ASIC) under Australian Financial Services License 491139. eToro (Seychelles) Ltd. licenced by the Financial Services Authority Seychelles (“FSAS”) under the Securities Act 2007 License SD076.
Investors can trade thousands of financial assets in multiple categories through the eToro broker, including commodities, cryptocurrencies, forex, indices, and ETFs.
Minimum Deposit of eToro
The minimum deposit to open a retail account is $200. Except for the following:
For clients in Israel is $10,000.
For clients in the US and Australia is $50.
For clients in Russia, China, Hong Kong, and Macau is $500.
For bank transfers, it is $500.
Leverage of eToro
eToro has two types of accounts for different types of investors, Retail and Pro accounts. Retail client accounts have maximum trading leverage of 1:30. Still, they can access specific protections such as compensation from the Investor Compensation Fund and assistance from the Financial Grievance Service. Additionally, they have access to negative balance protection and margin force closeout limits. Professional clients are those investors who have successfully passed the Professional Client Condition Test, which allows them to use unlimited leverage.
Spreads & Commissions of eToro
The minimum spreads start from 0.9 pips for EURUSD, 0.8 pips for GBP EUR, 1.2 pips for EUR GBP, 4.5 pips for Gold, 0.05 pips for Silver, 0.05 pips for Crude Oil, 0.01 pips for Natural Gas, 3.6 pips for the Australian 200 and 2 pips for the German 30.
Trading Platform of eToro
eToro's online trading platform and application offer a wide range of financial assets for trading and investment. Traders can gain access to more than 2,000 assets to trade through the eToro mobile or web platform, and appreciate the benefits of collective intelligence using ready-to-use CopyPortfolios™.
Deposit & Withdrawal of eToro
eToro supports VISA, MasterCard, PayPal, as well as wire transfers, NETELLER, WebMoney, Skrill, and other methods of deposit and withdrawal. Withdrawals are subject to processing fees, and any withdrawals in non-USD currencies are subject to exchange fees.
The help center features a live chat feature but it is a bit hidden within the FAQ section. Traders have reported that representatives are busy and no attention is available during the weekends. Theres no e-mail or phone support, as this broker relies on support tickets sent through the trading interface. The response to these tickets is sent to the e-mail inbox of each user. The response time is fast – 24 hours or less. eToro customer service is not the best, but it is sufficient to deal with basic issues.
General Information & Regulation
XTB ranks the fourth largest stock exchange listed forex and CFD broker in the world，founded in 2002 and headquartered in London, UK, with offices in over 12 countries, including Poland, Germany, France, and Turkey. XTB Limited is authorized and regulated by the Financial Conduct Authority in the UK, with regulatory license number 522157.
XTB provides investors with some popular tradable instruments in the global financial markets, mainly foreign exchange, indices, commodity futures, stock CFDs, CFDs on traded funds, cryptos, etc.
XTB Minimum Deposit
XTB has designed two types of trading accounts, the Standard Account and the Pro account, as well as the Islamic account. The minimum deposit for start a standard account is US$250, which sounds slightly higher than most brokers' requirements.
XTB , as an European based broker, can not provide high trading leverge for traders due to EU regulation. Retail traders can use the maximum leverage of up to 1:30 for forex instuments, 1:5 for stocks trading. However, professional traders can apply the high leverage of up to 1:500 after the status is confirmed.
Spreads & Commissions
The main spreads for Forex products are 0.1 pips for EUR/USD and 0.2 pips for GBP/USD. Spreads for index products start from 0.7 pips for US2000 and 1.7 pips for UK100. Gold spreads start at 0.41 pips, silver from 0.041 pips, oil from 0.04 pips. The spread on APPL.US is around 0.01 pips. Forex, indices, crypto coins and commodities are traded with transaction fees all built into the spread, no additional commissions. Commissions for stock CFDs and ETFs start at 0.08% per lot. Forex, indices, commodities, CFDs on shares, and CFDs on exchange-traded funds in Islamic accounts are charged a commission of $10 per lot.
XTB offers traders the x Station 5 and x Station Mobile trading platforms. The trading platform allows traders to trade anywhere, anytime, and choose from over 4,000 commodities (including CFDs on Forex, Cryptocurrencies, Indices, Commodities, Stocks and Exchange Traded Index Funds from all over the world) in an intuitive design that makes it faster and easier for traders to manage their assets. The platform supports web, mobile, and desktop.
Deposit & Withdrawal
XTB offers various deposit and withdrawal methods for users to choose from, some of which may incur additional fees. Bank transfers: welcoming EUR, USD, GBP, HUF, no fees for deposit and withdrawal. Banks may charge a transfer fee. E-Wallet (PayPal, Skrill): accepting EUR, USD, GBP, HUF, PayPal - charging 2% of the deposit amount, Skrill - charging 2% of the deposit amount. Withdrawals below 100 USD / 80 EUR / 60 GBP / 12,000 HUF will be charged 20 USD / 16 EUR / 12 GBP / 3,000 HUF respectively.
Does etoro or xtb have a lower transaction costs and fees?
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive etoro and xtb are, we first considered common fees for standard accounts. On etoro, the average spread for the EUR/USD currency pair is -- pips, while on xtb the spread is From 0.00008.
Which broker is safer, etoro or xtb?
To determine the safety of a forex brokers, our experts take various factors into consideration in a multi-dimensional manner. This includes which regulatory licenses the forex trader holds and how reputable those licenses are. We also consider the history of a forex dealer, as long-standing dealers are usually more reliable and trustworthy than newer start-ups. etoro is regulated by ASIC,CYSEC,FCA,FSC. xtb is regulated by CYSEC,FCA,CNMV.
Which broker provides better trading platform, etoro or xtb?
When our experts review a broker, they usually open real trading accounts and trade through the broker's trading platform. This gives us a better overall assessment of the quality of the platform, the ease of use and the features it offers. etoro Available trading platforms include --, tradable financial instruments include STANDARD xtb works/provides -- trading platform, trading instruments STANDARD