etoro vs plus500 Comparison & Reviews Pros & Cons

EToro’s trading platform is one of the most comprehensive in the world. It is an all-inclusive platform that is  also highly intuitive and easy to use. It is stacked full of important information such as data charts, technical analysis and more. The platform has different versions to suit your desktop, web browser, and mobile devices. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage.
The Plus500 platform is available on desktop, web and mobile . Both Plus500 and CMC Markets use margin rate rather than leverage. The margin rate is the minimum deposit you will require to open and maintain your trading position. etoro vs plus500 From this margin, one can determine how much leverage the broker will lend you, yet this varies between asset class and the subsidiary’s local regulator. My aim is to help you increase your trading knowledge with helpful content.

EToro charges a flat fee of $5 on withdrawals, meaning you can minimize fees by making fewer large withdrawals rather than many small ones. The way it works is that the broker and the client agree to pay the difference between an asset's opening and closing price, which can be both higher or lower than what it is. Correctly predicting the outcome of the price will result in making gains while failing to do so occurs losses.
You can contact customer support via 24/7 live chat, WhatsApp, and email. While there is no option to contact customer services via telephone, there is a convenient FAQs page featuring a wide range of relevant answers and information to the most commonly asked questions. The minimum deposit is $100 for debit/credit cards and electronic wallets and $300 for bank transfers. On the other hand, the minimum withdrawal amount via PayPal is $50 and for bank transfers and credit/debit cards is $100. Withdrawals typically take 3 business days and there are no withdrawal or deposit fees.

To trade while minimising risks it is important to pinpoint the sell and buy signals  on the Forex. Reliable brokers are usually located in major capital cities or some financial hub. Both Plus500 and eToro fulfill this metric because Plus500 is located in Haifa, Israel, and eToro is located  in Limassol, Cyprus. We consider this a negative point on both brokers as the lack of transparency could cause reduced trust. Both eToro and Plus500 maintain separate accounts for client funds and company funds.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. In our analysis of 23 international regulators across 50 brokers, Plus500 earned a higher Trust Score than eToro. Using Plus500 alerts, you can create specific criteria regarding trader sentiment, price movements, and change percentages. The platform will notify you via SMS, email, or push notifications when the market hits those criteria. Unfortunately for traders in America, Plus500 is not available to U.S. residents, and eToro limits U.S. traders to just cryptocurrency. If you plan to withdraw more than $100 with a debit/credit card, then you have 5 free withdrawals each month, otherwise, the withdrawal fee is $10, which is better than average.

Nevertheless, it’s also safe to trade with eToro, which has strong regulation. Both brokers have a swap-free account option for clients of the Muslim faith. EToro will start charging an inactivity fee of USD 10 per month if clients do not log in to their live account for 12 months. Forex Industry is the go-to source for information on the forex industry.
On top of that, the  representatives are courteous and knowledgeable, so the absence of a phone service isn’t a big deal. Then, you must have a sizable portfolio of €500,000 or more, which includes financial instruments and cash savings. Clients from certain areas get money protection, which means they are guaranteed a refund if their money is lost due to Plus500’s bankruptcy or any such event. The company’s UK-based audience is a crucial part of its revenue stream, and it shows. In late 2012, Plus500’s UK subsidiary was fined £205,128 by the FCA for not being able to accurately report transactions for over a year.

EToro does not offer high quality education resources, however is better compared to almost none at Plus500. EToro and Plus500 both offersdecent customer support with Live Chat and support inquiries. EToro and Plus500 both offer a single account with access to all tools and services from one account. Plus500 is a large and popular CFD broker with a good number of instruments for retail and professional traders. With eToro, traders can fund their account by using credit/debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, bank transfer and local online banking. Do take note that the availability of some of these payment gateways are dependent on the country where you reside and the regulator that supervises your account.
The eToro mobile app is available on both Android and iOS devices. If you are looking for a broker to trade actively, Plus500 is a good choice. If you are looking for background information, then you better go for eToro.