CEX.IO vs eToro | Why eToro Is Most Likely Better for You
Jack Moreau
Mar 2024
9 min read
Fact checked
When it comes to choosing between CEX.io vs Etoro, it can be a tough decision. That's why our team has done the research for you. We've delved into the signup and KYC process, available countries, trading fees, products and user experience to determine which exchange comes out on top. Read on to find out if Cex.io or eToro is the optimal platform for you!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Cex.io and Etoro are two popular exchanges that target a slightly different userbase with a differing range of products and services. Before we get too deep, let's begin with the basics.
Cex.io was founded in 2013 and is registered in Gibraltar with headquarters in London. It has over 200 employees and is available in 99% of the countries in the world, except for restricted countries such as Singapore, Japan, and OFAC countries.
CEX.io exchange
Cex.io provides a user-friendly platform that allows users to buy, sell, and trade a range of digital assets including Bitcoin, Ethereum and other altcoins. With over 4 million registered users globally, the exchange also offers support for over 130 cryptocurrencies.
For those that prefer their trading via mobile, Cex.io is available on both Android and IOS where it has over 1 million app downloads with an average rating of 4.1 stars based on 23,000 reviews.
eToro is a social trading and multi-asset investment platform that allows users to trade various financial instruments, including stocks, ETFs and cryptocurrencies.
eToro has become popular among traders due to its easy to use interface, diverse range of assets, and innovative social trading features.
eToro has managed to build an impressive user base of 30 million users and has over 10 million app downloads with an average rating of 4 stars based on over 100,000 reviews.
eToro Android app
Cex.io vs Etoro Signup & KYC
When it comes to signup and KYC, both Cex.io and eToro require KYC verification for their users but with slightly different signup processes.
Signing up for CEX.io is fast and simple with users having to fill out basic information such as email, password and country of residence.
However, in order to unlock full account privileges, users must complete KYC verification which involves submitting a government ID and a selfie with that document.
The verification process can take as little as one hour if all documents are correctly uploaded.
CEX.io signup
On the other hand, eToro's signup process is also quick and users only need to enter username, email and confirm the email verification. But like Cex.io, KYC verification is required for trading on eToro.
Once users have submited the requested documents, the verification process is normally completed within the same day or in worst case within a few business days.
eToro KYC
For those that prefer to buy and sell cryptocurrencies without going through KYC, that can be done by signing up to exchanges such as Phemex and OKX.
Cex.io vs Etoro Products & Services
Moving on to products and services, CEX.io offers a decent range of crypto specific products such as spot and margin trading with BTC, ETH or USDT as collateral.
CEX.io products and services
Additionally, CEX.io offers trading APIs, instant buy with credit cards, staking and earning options, crypto-backed loans, and a debit card.
Staking on CEX.io
The user experience on Cex,io has improved in the last few years and is now more pleasant to use and easy to navigate. The exchange has a modern interface that caters to beginners and more advanced users alike.
However, the exchange suffers from low liquidity with daily average spot trading volumes in the $10 million range. On the positive side, CEX.IO offers up to 10X leverage on margin trading.
CEX.io spot trading
eToro is a one-stop-shop for anyone interested in stepping into the world of trading with over 3,000 financial assets at their disposal.
For starters, eToro offers a vast collection of over 3,200 stocks where its users can buy fractional shares of familiar household names like Apple, Microsoft, or Amazon.
eToro Stocks
If you've ever thought about trading money from different countries, eToro has you covered with over 50 currencies. This might sound complex, but at its core, it's about guessing which country's money might become more valuable over time. At the time of writing, currencies are not available to users in the United States.
eToro Currencies
On top of that, there are over 30 commodities available for trade for eToro users that do not reside in the United States and non-US citizens.
These are basic goods, like oil or gold, that are used globally. It's a chance to invest in these essential items that power our daily lives.
eToro of course also offers a window into the exciting world of cryptocurrencies with over 70 types of these digital coins, including big names like Bitcoin, Ethereum, Solana and Cosmos.
eToro Crypto
For those new to the scene, eToro takes care to educate its users. The eToro Academy is like a school for trading. It has courses, video sessions, and simple guides that break down all the fancy terms and complicated charts.
eToro Academy
Speaking of charts, eToro has teamed up with TradingView to present data in clear, newbie-friendly visuals. These charts help you see how prices of things like stocks or currencies change over time, helping you make more informed choices.
eToro Trading Tools
If you're not quite ready to use real money, eToro has a fantastic demo mode' where users are given virtual money to practice their trades, letting them learn without any actual financial risk.
eToro Demo Trading
Another cool feature eToro offers is the CopyTrader system. It's like having a window into the world of expert traders. You can see how they trade, learn from their moves, and even choose to follow their strategies.
eToro Copy Trading (Past performances are not an indication of future results)
Lastly, if you've heard about the digital art and NFTs, eToro's Delta platform makes exploring this digital frontier easy. It's designed to simplify the buying, selling, and managing of unique digital items on the Ethereum blockchain.
Let's continue by looking into the trading fees offered by CEX.io and eToro. If we begin with CEX.io, they charge a spot trading fee of 0.15% for makers and 0.25% for takers.
They also offers trading rebates for higher trading volumes that exceed $10,000. While these fees are definitely not shabby, they are on the higher end if you compare with top crypto exchanges such as OKX and Binance.
CEX.io trading fees
On the other hand, eToro takes a different approach to trading fees. They charge a flat 1% fee for buying and selling cryptocurrencies, with no opportunities for rebates based on trading volume.
eToro Crypto Fees
While this may seem high compared to other exchanges, It's also worth pointing out that for those that want to buy and sell stocks on eToro, that comes with a 0% commission.
When it comes to depositing funds on Cex.io and eToro, both exchanges offer various options for their users.
Cex.io allows fiat deposits for USD, EUR, and GBP through different methods such as SWIFT, Wire, SEPA, Faster Payments, Credit/Debit Card, and payment providers like Neteller and PayPal.
Bank deposits on Cex.io incur fees costing around $2.99 to $3.99 while credit/debit card deposits come with a much higher service fee of 3-4% compared to other options.
CEX.io fiat deposit
On the other hand, eToro boasts a wider range of deposit options with Bank Transfer, PayPal, Skrill, Neteller, and debit card.
The best thing about eToro is that all of their fiat deposits are free of charge, making it a standout when it comes to user convenience. Conversion fee may however be applied as deposits are conducted in $.
Additionally, eToro supports four fiat currencies including USD, EUR, GBP, and AUD. While both exchanges offer fiat deposits, eToro takes the lead when it comes to user-friendly deposit options, with no fees and a wider range of supported currencies.
Let's take a look at how Cex.io and Etoro deals with withdrawals.
Cex.io offers fiat withdrawals for three currencies: USD, EUR, and GBP. Users can withdraw USD through SWIFT or wire transfer, EUR via SEPA, and GBP via Faster Payments.
The fees on fiat withdrawals vary from $2.99 to 3% commission if users withdraw with credit/debit card.
In terms of fiat withdrawals, withdrawing Bitcoin from Cex.io comes with a 0.0005 BTC fee, ETH with a 0.006 ETH withdrawal fee and SOL with a high 0.05 SOL withdrawal fee.
Furthermore, withdrawing ERC-20 USDT from Cex.io comes with a high 10 USDT fee. The withdrawal fees for both fiat currencies and cryptocurrencies on Cex.io are on the higher end.
On the other hand, eToro's fiat withdrawal options are bank account or a debit card. Etoro charges a withdrawal fee of $5 for all the fiat currencies. All fiat currencies besides USD are also subject to a conversion fee.
In conclusion, both CEX.IO and eToro are popular cryptocurrency exchanges that offer their users a range of trading services.
CEX.IO has over 4 million registered users globally, supports over 130 cryptocurrencies, and charges a competitive spot trading fee of 0.15% for makers and 0.25% for takers.
In contrast, eToro has amassed an impressive user base of 30 million users, offers a more user-friendly trading experience, and charges a 1% fee for buying and selling cryptocurrencies.
While Cex.io focuses on more traditional products such as spot and margin trading, earn and staking, eToro is more focused on reaching the investment community with a wide range of financial assets such as crypto, stocks, ETFs and much more.
When it comes to depositing funds, eToro stands out as the more user-friendly option with a wider range of deposit options and no fees for fiat deposits.
In terms of withdrawing funds, both exchanges offer a range of fiat and cryptocurrency withdrawal methods with varying fees.
Ultimately, the choice between CEX.IO and eToro comes down to individual trading needs. While CEX.io may appeal to traders looking for a range of trading products and services, eToro's diverse array of assets will be more appealing for investors who are looking for a one stop shop.
Disclaimer
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured.
Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance.
luckyaltcoin.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
