eToro vs SwyftX

eToro vs SwyftX

eToro is a major player among brokerage platforms with a commission-free trading app and access to more than 2,000 different assets, cryptocurrencies, currencies, ETFs, commodities, and other financial derivatives. This brokerage platform is one of the best and top-used for investing and trading opportunities in the US market.

SwyftX is a cryptocurrency exchange based in Australia with over 200 different cryptocurrencies listed for trading against various trading pairs. SwyftX is a fast-growing exchange with a user-friendly platform and some of the most competitive fees. How eToro and SwyftX compare, and which one is better for trading?

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Feature Comparison

eToro and SwyftX have crucially different services and features, given the fact that eToro also offers other financial derivatives aside from cryptocurrency. Even though eToro is not exclusively a cryptocurrency trading platform, features offered by this brokerage network can substitute for some of the top crypto exchanges.

Features can make a difference between a winning and losing investment strategy, especially for traders and investors who are just beginning to grasp the intricacies of financial markets. Which one of the platforms has better features, eToro or SwyftX?

eToroSwyftX
Copy TraderReal-time Price Feed and API
Social TradingIntegrated Trading View Charts
eToro News FeedStop, Limit, and Market Orders
Popular Investor ProgramCombined Order Books
eToro Insights/

eToro

What is eToro Copy Trader?

eToro has Copy Trader, which is one of the platform’s most praised features. Copy Trader is a powerful addition to the platform available with eToro Open Book, which is a relatively new update.

Open Book provides access to new markets with relevant and crucial data points and market data that traders can use to create effective investment strategies. eToro users can discover, invest in, and discuss new market opportunities, and trade with currencies, commodities, indices, stocks, and more.

eToro users can use Copy Trader to see what real-life people are investing in. The view of trades is available in real-time so users can copy other investors’ trades if deemed potentially successful.

This feature can help traders create more efficient strategies for maximized ROI. This feature is user-friendly and suitable for beginners as you can copy anyone’s trade with a single click.

What is eToro Social Trading?

Social Trading is another one of eToro’s popular features as this brokerage platform represents one of the largest social trading communities in the world. eToro Social Trading allows traders and investors to exchange insights, opinions, and discuss market data. The community counts over 15 million users and can help you get a grasp of financial markets and important data like sentiment analysis, for example.

What is eToro News Feed?

eToro News Feed acts like a social network for traders and investors, and this is the feature that allows users to connect with their favorite traders. You can use eToro News Feed to follow up with significant events and connect with other members.

If you are a low-risk trader, based on your trading history on eToro, you can qualify for the Popular Investor Program. In case you join the program, eToro lets you collect 2% of Assets Under Management while building your own business in investments. Users are eligible for 2% AUM whenever their trade is copied.

What is eToro Insight feature? 

eToro keeps the platform users informed through eToro Insights. This feature uses alerts and frequent posting of informative blogs to keep the community updated.   

SwyftX

What is Real-time Price Feed and API?

Asset prices on SwyftX are updated in real-time, and it changes with your order size by automation. The platform offers integration capabilities, which means that users can easily automate order placements and trading actions and strategies.

Thanks to the real-time price feeds and handy APIs, both, users with and with no experience, can manage their orders and trading strategies with no effort.

SwyftX Integrated Trading View Charts

SwyftX allows users to track and monitor their chosen cryptocurrencies in real-time. Real-time changes keep users updated on live price feeds, charts, changes, and trading volumes. This way, you can track all your cryptocurrency positions in one place, which makes up for a user-friendly experience.

SwyftX Stop, Limit, and Market Orders

You can use Stop, Limit, and Market orders to get the most out of your trades. Missed opportunities are some of the biggest foes for beginner traders, but users can avoid missing out on great trades by setting up their prices and automating their market orders.

Limit your orders and set up stop orders to buy assets at your own chosen prices. You don’t need to spend an entire day monitoring charts to make a successful trade thanks to automated features on SwyftX.

SwyftX Combined Order Books

SwyftX offers Combined Order Books and shows buys and sell prices across multiple different exchange markets to ensure that users are getting the best experience in the cryptocurrency market. Combined Order Books showcase combined prices so that users on SwyftX can have access to the best price options.

Service Comparison

eToroSwyftX
eToro CFDsDemo
eToro CryptoTax Reporting
eToro Copy PortfoliosRecurring Orders
eToro 0% Commission StocksPortfolio Tracking
eToro Demo/

All investments involve a certain level of risk, even if that risk can be minimal. Still, powerful services can help traders mitigate these risks and get the most out of their investments. How are services available on eToro and Stake different and which trading platform is better?

eToro

eToro CFDs

eToro CFDs service works similarly to Stake Fractional Shares feature. eToro CFDs allow users to buy fractional shares, however, this service also offers leverage for trading and open sell short positions.

With this service, you can own a fraction of shares that otherwise wouldn’t be accessible to all traders. eToro also offers zero commissions for numerous assets and financial derivatives, while the zero-fee policy doesn’t apply to stock CFDs.  

eToro Crypto

eToro Crypto service enables users to trade and invest in some of the top cryptocurrencies, which includes Bitcoin, Ethereum, and sixteen additional top-traded cryptos with major market caps.

You can buy fractions of cryptocurrencies available on the platform, while you can also access Crypto Portfolios that are managed by Investment Committee on eToro.

eToro Copy Portfolios

eToro Copy Portfolios service is similar to the platform’s feature Copy Trade as it allows users to copy different investment portfolios made by the top traders in the community. You can copy other trader’s investments in real-time, and choose between three different types of portfolios:

1. Partner Copy Portfolios

eToro’s partners also have portfolios within the Copy Portfolio service, which means that users can choose to copy trades from major investment companies and other eToro partners such as Tipranks, which is a company for stock analyst software.

2. Top Trader Copy Portfolios

This option offers preplanned investment strategies that users can copy from top traders on eToro. Top traders on eToro have exceptional ROI stats and are usually following winning strategies that you can use for your investments and trading options.

3. Market Copy Portfolios

eToro Market Copy Portfolios offer CFDs on commodities, stocks, indices, and ETFs. Thanks to its smart functions, this type of Copy Portfolio uses algorithms for periodic adjustments, allocation of funds, assets, parameters, and rebalancing. This service is monitored by eToro Investment Committee, while the Committee is managed by Barclays.  

eToro 0% Commission Stocks

European traders can invest in stocks on eToro with 0% commission in case they don’t add leverage to buy positions. If applicable to your case, eToro will also neutralize Stamp Duty taxes and allow traders from Ireland to save 1% and 0.5% for UK traders.

SwyftX

SwyftX Demo

SwyftX offers a demo mode on users’ accounts to enable traders who are only beginning to grasp the volatility and movements of the crypto markets.

You can switch to Demo mode to practice trading and test your trading strategies before you start investing and trading with real funds. SwyftX Demo imitates the market depth and liquidity, so you can test trade in a real-life scenario.

Tax Reporting

SwyftX exchange offers simple and individual tax reporting, so you can easily access and download all your tax reports with a click. You can select ab custom period for your trades and the exchange will generate a customized individual tax report for the chosen period. You can download multiple reports.

Recurring Orders

Recurring Order is another service that lets users automate their trades. You can set up recurring deposits for your Swyft account. You can also adjust the recurring deposits to be distributed across your chosen range of cryptocurrencies.

Portfolio Tracking

SwyftX also has a side panel Portfolio Tracking that is always available to users and highly accessible. You can always track all your asset holdings in real-time by simply hovering over the side panel on the platform.

Portfolio Tracking service lets users follow up with gains and losses in their crypto positions in real-time, addressing live changes.

How do I open an account?

eToro lets you choose between different options before opening an account on this brokerage platform. There are a few account options etoro provides as below, you can explore the accounts here

1.       Demo Account

2.      Live Account

3.      eToro Professional Account

4.      Islamic Account

5.      Corporate Account

6.      eToro Club VIP

7.      eToro US Opening Account

SwyftX exchange lets you open an account in minutes by only providing basic information, including your name and email address, so you can start trading crypto in minutes.

eToro

To open an account on eToro, you will need to visit the official website and choose to join the platform. You will need to fill out an electronic form with required personal data mandatory for opening an account.

You will also be offered to sign up with Google or Facebook. Once you submit the form, you will be presented with a KYC process and asked to provide proof of identity and proof of residency.

Once you complete the KYC, you will need to fill out a questionnaire so that eToro could evaluate the best options for your account based on your experience, professional status, knowledge of financial markets and capital, levels of risk, goals, and similar information.  

SwyftX

To open an account on SwyftX, you need to provide your email address and your name with the registration form. You will also be asked to add your country of residence and your phone number.

Verification on Swyft doesn’t last more than a couple of minutes according to 70% of users with active accounts.

How to trade?

eToro

To trade on eToro, you will be asked for a minimum deposit of $50 after successfully registering with this brokerage platform.

Before you start investing with your funds, you can try eToro Demo Account to get familiar with the platform, features, services, and trading in general. You can also use the Copy Trade feature to copy successful traders on eToro. 

SwyftX

There are no minimum deposits to start trading on SwyftX, which means that you can deposit any amount of your choice. The daily limits are 100,000 Australian dollars.

You can set up your account in only a couple of minutes and start trading your favorite cryptocurrencies among over 200 different crypto assets on SwyftX.

Fees comparison

PlatformeToroSwyftX
Brokerage Fees$0No fees
Withdrawal Fee$5$0
Deposit Fee$0 (for USD)$0 (for AUD)
Inactivity fee$10 (1 year inactive)$0

eToro

eToro won’t charge you for signing up and using a Demo Account. New users are awarded $100 to test trade on the Demo. eToro takes 0.5% for forex trading on every deposit and FX rates may also apply to non-USD deposits. The minimum amount to withdraw is $30.  Start here

SwyftX

SwyftX takes 0.6% on trading fees, while users can save some money on spreads with 0.45% trading fees. SwyftX doesn’t charge deposits and withdrawals, but mining fees may apply based on the type of crypto you are depositing or withdrawing. Credit card deposit fees are 2% per deposit.

Are these platforms regulated?

eToro

eToro was established and founded in 2007 as a low-risk brokerage social trading platform when it comes to trading CFDs and forex. To make low-risk trading possible, eToro is regulated in one tier-2 jurisdiction and two tier-1 jurisdictions. eToro is regulated and authorized by Financial Conduct Authority, CySEC, and ASIC.

SwyftX

SwyftX was founded in 2018 as one of the most progressive and fastest-growing exchanges in Australia and New Zealand. SwyftX is regulated and overseen by the Australian Transaction Report and Analysis Centre (AUSTRAC). Due to the regulatory protocols, SwyftX has a KYC and identification process, as well as exchange monitoring programs.

eToro Pros and Cons

ProsCons
Trade, buy, and sell crypto, stocks, CFDs, ETFs, forexUS traders can’t trade equity and forex
Social tradingOnly one base fiat currency
A great number of useful features and servicesInactivity fee charged after a year
Low fees 
Option to copy successful trades with Copy trading 
A great number of payment methods 

SwyftX Pros and Cons

ProsCons
Credit card and debit card cryptocurrency BUY and SELLHigh credit card deposit fees 2%
250+ cryptocurrencies to trade and more to be listedNo margin trading
Instant verification 
Low instant trading fees 
No deposit fees for AUD 
24/7 Live chat and support 

Conclusion

We recommend eToro for ease of use and the feature it provide for beginners as well as advanced users.

eToro is best for?

eToro is a great platform for both beginners and more experienced traders. Beginner traders can get a grasp of how trading on eToro looks like by taking a turn with $100 on a free Demo Account.

More experienced traders and investors can become eligible for joining eToro Popular Investor Program and earn commissions. Copy-trading also makes it easier for newbie traders to grow more familiar with financial markets and winning investment strategies.

SwyftX is best for?

SwyftX is suitable for beginners and more experienced traders as well. The platform makes it simple and easy for new traders to get familiar with the crypto market, offering features and services for the automation of trades. All crucial market data is showcased and displayed in real-time, which makes SwyftX user-friendly and handy for managing a multi-asset portfolio.

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