eToro vs Binance Comparison: Which Reigns Supreme in 2024?

Daniel Meyer, 7 min read
Last Updated: 27 November, 2023

etoro vs binance

I’m sure you’ve heard of the great debate about eToro vs Binance. It’s like the Bitcoin vs Ethereum of the exchange world.

In our comparison of eToro and Binance, eToro leads with a score of 9.5/10, excelling in user-friendliness, strong security, and unique social trading features. Binance, scoring 8.2/10, offers a wide range of cryptocurrencies and advanced trading tools but falls short in user experience and regulatory aspects. This succinct evaluation guides traders in choosing the platform that aligns best with their needs.

General Comparison

Feature Binance
Founded 2007 2017
Founder Yoni Assia Changpeng Zhao
Specialization Social Trading Crypto Trading
User Interface Intuitive Advanced

eToro, founded in 2007 by Yoni Assia, is a popular social trading platform known for its intuitive user interface, while Binance, founded in 2017 by Changpeng Zhao, is the world’s largest cryptocurrency exchange specializing in crypto trading with an advanced user interface. eToro’s strength lies in its user-friendly platform, which is perfect for beginners and experienced traders alike. Binance, on the other hand, focuses on providing advanced trading tools and features for the more experienced traders.

eToro Pros and Cons

Pros:

  1. Easy-to-use interface
  2. Social trading features
  3. Supports a variety of financial instruments

Cons:

  1. Limited selection of cryptocurrencies
  2. Higher fees compared to Binance

Binance Pros and Cons

Pros:

  1. Wide variety of cryptocurrencies
  2. Lower fees compared to eToro
  3. Advanced trading tools

Cons:

  1. More complex user interface
  2. May not be suitable for beginners

Who is eToro right for?

  1. Beginners in the world of cryptocurrency
  2. Traders looking for a social trading experience
  3. Those who want to trade a variety of financial instruments

Who is Binance right for?

  1. Experienced traders
  2. Users looking for a wide selection of cryptocurrencies
  3. Traders who prioritize low fees

eToro is an excellent choice for beginners and those looking for a social trading experience, while Binance is better suited for experienced traders who prioritize a wide selection of cryptocurrencies and low fees.

User Experience Comparison

Feature Binance
Web Interface Intuitive Advanced
Mobile App Yes Yes
Customer Support Good Good

Both eToro and Binance offer intuitive web interfaces and mobile apps. While eToro’s platform is designed for ease of use, Binance’s interface is more advanced, catering to experienced traders.

Both platforms have good customer support, but their response times may vary depending on the issue.

Winner: eToro

eToro takes the lead in user experience and interface due to its beginner-friendly and intuitive design.

Trading Pairs, Liquidity, and Volume

Feature Binance
Trading pairs 75+ 650+
Liquidity Moderate High
Trading Volume Moderate High

eToro has a limited selection of trading pairs, while Binance boasts a wide variety of pairs, offering greater flexibility to traders. Binance also has higher liquidity and trading volume compared to eToro, which is crucial for executing trades quickly and at the desired price.

Winner: Binance

Binance is the clear winner in this category due to its extensive range of trading pairs, high liquidity, and trading volume.

Fees and Leverage Battle – crypto and other assets

Feature Binance
Maker fee (stocks, ETFs) 0.10% N/A
Taker fee (stocks, ETFs) 0.25% N/A
Crypto CFD trading fee 1% N/A
Leverage options Up to 30x Up to 125x

Both eToro and Binance offer competitive maker fees at 0.10%. However, eToro has higher taker fees at 0.25% compared to Binance’s 0.10%. Withdrawal fees for both exchanges vary depending on the cryptocurrency being withdrawn. Binance offers significantly higher leverage options, with up to 125x leverage compared to eToro’s maximum of 30x.

Winner: Binance

Binance takes the lead in this battle with lower taker fees and higher leverage options compared to eToro.

Security and Compliance – Binance vs eToro

Feature Binance
Two-factor Authentication Yes Yes
Cold Storage Yes Yes
Security Fund Yes Yes
Address Whitelisting Yes Yes
Anti-Phishing Code Yes Yes
Real-Time Risk Management Yes Yes
Asset Segregation Yes Yes
Secure Infrastructure Yes Yes

To compare eToro vs Binance, they both prioritize security and compliance, offering features such as two-factor authentication, cold storage, security funds, address whitelisting, anti-phishing codes, real-time risk management, asset segregation, and secure infrastructure. These measures help protect user assets and maintain a secure trading environment.

Winner: Tie

Both eToro and Binance are equally strong in terms of security and compliance, making it a tie in this category.

eToro and Binance: Deposit and Withdrawal Options

Binance
Fiat Deposit Options Bank Transfer, Credit/Debit Card, PayPal, Skrill, Neteller, Rapid Transfer, iDEAL, Sofort Bank Transfer, Credit/Debit Card, P2P Trading
Cryptocurrency Deposit Options Not available Supported cryptocurrencies
Fiat Withdrawal Options Bank Transfer, PayPal, e-wallets (Skrill, Neteller) Bank Transfer, Credit/Debit Card, P2P Trading
Cryptocurrency Withdrawal Options eToro Money Crypto wallets

 

eToro provides a variety of deposit and withdrawal options for fiat currencies, including bank transfers, credit/debit cards, PayPal, Skrill, Neteller, Rapid Transfer, iDEAL, and Sofort. Although eToro does not support direct cryptocurrency deposits, it allows cryptocurrency withdrawals to the eToro Money wallet.

Binance offers multiple deposit and withdrawal options for both fiat and cryptocurrencies. For fiat deposits, Binance supports bank transfers, credit/debit cards, and P2P trading.

Fiat withdrawals can be made through bank transfers, credit/debit cards, and P2P trading. Cryptocurrency deposits and withdrawals can be made using supported crypto wallets.

Winner: eToro

eToro takes the lead in this category with its more diverse range of deposit and withdrawal options, including the availability of PayPal and e-wallets, making it more convenient for users to manage their funds.

Find out more details about eToro in our experienced eToro review.

eToro or Binance: Tools, Features and Trading Tools

Feature Binance
Mobile App Yes Yes
API Support Yes Yes
Margin Trading Yes Yes
Perpetual Contracts No Yes
Staking Yes Yes
Token Launch Platform No Yes
Advanced trading tools Limited Extensive
Unique features Social Trading Binance Smart Chain

Here both eToro and Binance offer a range of trading tools and features, but Binance takes the lead with its more extensive offerings, such as perpetual contracts and a token launch platform.

Additionally, Binance has advanced trading tools catering to experienced traders and boasts unique features like the Binance Smart Chain.

eToro, on the other hand, offers a limited range of advanced trading tools but stands out with its social trading feature, allowing users to learn from and copy other traders’ strategies.

Winner: Binance

Binance is the winner in this category due to its extensive range of trading tools and features, catering to both beginner and advanced traders.

Explore the exchange with this article, where we share our experience more in-depth in a comprehensive Binance review.

Which Exchange Takes the Lead in 2023?

Which exchange is more beginner-friendly?

eToro is more beginner-friendly, thanks to its intuitive user interface and copy trading features that allow new traders to learn from experienced traders.

Which exchange has lower fees?

Binance has lower fees, particularly when it comes to taker fees, making it more cost-effective for traders.

Which Exchange Has a Demo Account?

eToro: Yes, eToro offers a demo account. Users can access a virtual portfolio with a simulated balance, allowing them to practice trading and test strategies without risking real money.

Binance: No

What Are eToro and Binance Regulations?

eToro: eToro is known for its strong regulatory compliance. It is regulated in various jurisdictions, including by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). This regulatory framework provides a high level of security and consumer protection.

Binance: Binance’s regulatory status is more complex. It operates in numerous countries and has faced scrutiny from several regulatory bodies. Binance has been working to improve its regulatory compliance globally and has obtained licenses and permissions in some jurisdictions. However, its regulatory status varies by country, and users should be aware of the regulatory environment in their specific location.

Which exchange offers a wider range of trading pairs and better liquidity?

Binance offers a wider range of trading pairs and higher liquidity, making it more suitable for traders who want to access a diverse range of cryptocurrencies and execute trades quickly.

Which exchange has better security and compliance features?

To compare eToro and Binance they both have strong security and compliance features, ensuring a safe trading environment for users.

Which exchange is more suitable for advanced traders?

Binance is more suitable for advanced traders due to its extensive range of trading tools and features, as well as the advanced user interface.

Comparison Summary

Winner
eToro-Icon
Hybrid

ecoinomy average rating:

9.5/10

Assets Traded Stocks, Indices, ETFs, Currencies, Commodities, Cryptoassets
Max Leverage Up to 30:1 (varies by asset)
Trading Fees Spread 1%
Regulations EU, USA, UK, Austalia, Middle East
Cryptocurrencies 79+ BTC-Coin-IconETH-Coin-IconMIOTA-IconBCH-IconRipple-IconDASH-IconADA-Coin-IconEOS-IconLTC-IconNEO-IconXLM-IconZEC-IconEthereum-Classic-IconBNB-Icon
Payment Methods PayPal, Visa, MasterCard, Skrill, Neteller, SEPA, WebMoney
Number of Users 30 Million+

9.7/10 - Safety

9.1/10 - Fees

9.6/10 - Ease of Use

9.3/10 - Customer Service


Start here

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.



Binance logo
Exchange

ecoinomy rating:

8.2/10

Max Leverage 20:1
Deposit Fees By card 1,8%; minimum deposit 15 EUR
Trading Fees 0.1%
Regulations
Cryptocurrencies 650+ BTC logo CriptovaluteETH Criptovalute logoIOTA криптовалута логоBCH криптовалута логоRipple криптовалута логоDASH криптовалута логоADA криптовалута логоEOS криптовалута логоLTC криптовалута логоTezos криптовалута логоNEO криптовалута логоXLM криптовалута логоZEC криптовалута логоETC криптовалута логоOmise-Go криптовалута лого
Payment Methods Crypto, Visa, MasterCard
Number of Users 30.000.000+

Security

Fees

Ease of Use

Customer Service


Go to Binance

In summary, eToro is an ideal choice for beginners and those looking for a social trading experience, while Binance is better suited for experienced traders who prioritize a wide selection of cryptocurrencies, low fees, and advanced trading tools. Both exchanges offer strong security and compliance measures and provide multiple deposit and withdrawal options. Binance emerges as the overall winner, catering to a broader range of traders with its extensive offerings, making it the leading exchange in 2023.

Overall Winner: eToro

While Binance offers a wide range of cryptocurrencies, lower fees, and advanced trading tools, eToro comes as the overall winner in this comparison. eToro’s intuitive user interface, social trading features, and support for various financial instruments make it an ideal platform for users of all experience levels.

eToro’s social trading functionality allows users to learn from and copy other traders’ strategies, making it an excellent platform for both beginners and experienced traders looking for new investment ideas.

Additionally, eToro’s support for stock trading, commodities, and other financial instruments provides a more diversified trading experience for its users.

Furthermore, eToro’s commitment to regulatory compliance and strong security measures make it a reliable and secure platform for trading.

Binance is better suited for experienced traders looking for advanced tools and a wider variety of cryptocurrencies, eToro’s overall user-friendliness, educational features, and diverse trading options make it the leading exchange in 2023.

eToro vs Binance Ratings

Binance
Trustpilot Rating 4.3/5 (19,500+ reviews) 2.0/5 (4,500+ reviews)
Ecoinomy Rating 9.5/10 9.1/10

This table provides an overview of the ratings for eToro and Binance from Trustpilot and Ecoinomy. Trustpilot is a popular review platform where users can share their experiences and rate different services. Ecoinomy is a website that evaluates and rates various cryptocurrency exchanges based on factors such as security, fees, and user experience.

 More Exchange Battles

eToro is a multi-asset trading platform that offers both stock and crypto asset investing and CFD trading.

Please note that CFDs are complex instruments and are associated with a high risk of losing money quickly due to leverage. {etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indicator of future results. The trading history presented is for less than 5 full years and may not be sufficient as a basis for an investment decision.

Trading copies does not equate to investment advice. The value of your investment may go up or down. Your capital is at risk.

Investing in crypto assets is highly volatile and unregulated in some EU countries. There is no consumer protection. Profit tax may apply.

eToro USA LLC does not offer CFDs and does not make any representations or accept any liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner using publicly available non-specific information about eToro.

Daniel Meyer

Daniel was specifically recruited by Ecoinomy for his high-level expertise in crypto trading platform analysis. With a solid background in blockchain technology and a track record of successful trading, he offers precise, insightful reviews. His approach combines technical knowledge with practical experience, providing valuable, clear guidance for serious investors. Daniel's work is an essential resource for understanding the nuances of various trading platforms, making him a key figure in Ecoinomy's commitment to top-tier cryptocurrency education.