eToro vs Plus500: Comparison and Analysis

In this article, we will provide a comprehensive comparison between two popular online brokers, eToro and Plus500, focusing on their key features, advantages, and disadvantages. Our goal is to help you make an informed decision when choosing between these platforms. Let’s dive into the eToro vs Plus500 comparison using the data provided in the tables above.

Security and Rating:

Both eToro and Plus500 offer a high level of security, scoring 95 and 96, respectively. Overall, eToro has a slightly higher rating of 77, compared to Plus500’s rating of 74.

Demo Account:

Both brokers provide an unlimited demo account for users. However, eToro’s virtual balance of $100,000 may not reflect the reality for the average trader, while Plus500’s virtual funds could also be too high compared to a classic user’s actual funds.

Minimum Deposit:

eToro requires a $200 minimum deposit in most cases, but small conversion fees may apply. On the other hand, Plus500 has a $100 minimum deposit for credit card users and a $500 minimum deposit for those who use wire transfers.

Social Trading and Copy Trading:

eToro is known for its social trading features and user-friendly copy trading layout. However, it’s important to be cautious, as amateur traders can potentially influence your decisions. Plus500 does not offer social trading or copy trading features.

CFD and Forex Trading:

eToro offers over 1,000 tradable assets, but some of them charge very high spreads. Plus500 provides more than 2,000 assets, but its spreads are slightly higher compared to other providers, and trading conversion fees can be up to 0.7%.

Stock Market:

eToro allows commission-free trading for real stocks, but this feature is only available to CySEC, FCA, and ASIC customers. Plus500 does not offer stock trading.

Cryptocurrency Trading:

Both eToro and Plus500 offer cryptocurrency trading. eToro allows users to trade cryptocurrencies as real assets with spreads starting from 1% on Bitcoin, but most of its cryptocurrencies have very high spreads. Plus500 offers 14 cryptocurrencies, including crypto-to-crypto and fiat-to-crypto pairs, with a competitive spread on Bitcoin. However, it has a fixed leverage that cannot be changed.

eToro Platform and Plus500 Trading Platform:

eToro has a proprietary trading platform, which offers more than 100 crypto assets. However, it charges very high commissions for crypto transfers. Plus500’s trading platform is easy to use and available via webtrader and mobile. Unfortunately, it has limited chart tools and does not support API.

Education:

eToro’s education score is 64, while Plus500 lags with a score of 38. This indicates that eToro provides better educational resources for traders compared to Plus500.

In conclusion, both eToro and Plus500 have their own advantages and disadvantages. eToro excels in social trading, copy trading, and educational resources, while Plus500 offers a larger number of tradable assets and a more user-friendly trading platform. Ultimately, your choice between eToro vs Plus500 will depend on your personal preferences and trading needs.