eToro vs Bybit | Best Platform for Novices & Trading Pros?

eToro stands as a preeminent trading platform designed to meet the complex demands of traders with a wide range of financial products, robust research tools, in-depth analysis, and efficient risk management.

Central to eToro's vast offerings is an expansive portfolio of financial instruments. This includes access to over 3,200 renowned stocks like Microsoft, Apple, and Amazon.

But stocks are just one facet. eToro also caters to traders looking for currency options with over 50 available, commodities enthusiasts with over 30 choices, and those keen on global indices with more than 20. At the time of writing, commodities, currencies and indices are not available to users in the United States.

Cryptocurrency aficionados aren’t left out as eToro offers a selection of over 70 digital assets, covering market leaders like Bitcoin and Ethereum.

Additionally, the platform’s ETF range is notable, with over 400 available, including household names such as Ark Innovation and Vanguard.

eToro's Academy stands as a hub of trader education by offering an extensive array of courses, webinars, and insightful tutorials, ensuring users always have resources at their fingertips.

eToro's collaboration with TradingView ensures traders have access to in-depth, dynamic charting, crucial for informed decision-making.

Real-time order execution on eToro is a key feature, guaranteeing that traders can capitalise on market movements, placing orders with unparalleled accuracy.

Risk management is further accentuated through eToro's adaptive tools, such as the versatile take-profit and the trailing stop-loss mechanisms. Stop Loss and Take Profit are not guaranteed.

For those keen on practice before real-world trading or refining their strategies, eToro provides a demo mode with a $100,000 virtual pool.

eToro's innovative CopyTrader feature distinguishes it from many competitors. This feature enables users to replicate the trading activities of seasoned pros, fostering a social trading experience.

In tune with the evolving digital landscape, eToro has introduced Delta, a product allowing it's users to buy and sell NFTs (non-fungible tokens) on the Ethereum blockchain.

Bybit has experienced rapid growth in the last few years not only in its user base but also in the diversity of its product offerings.

This crypto exchange is tailored for both retail users and professional traders, offering a comprehensive suite of services.

Bybit excels in creating a user-friendly platform which is not a simple achievement given its wide range of products. This ease of use is particularly beneficial for beginners who can start trading right away.

The primary feature of Bybit is of course the spot trading order bok where users can buy and sell over 450 cryptocurrencies.

This includes a wide selection of large cap coins and tokens, along with a variety of altcoins that users won't easily find elsewhere.

For traders interested in leveraged trading to long or short any particular assets, Bybit offers margin trading with leverage options up to 10X.

In addition, Bybit provides leveraged tokens for 30 cryptocurrencies with up to 3X leverage and without any risk of liquidation.

Bybit has also developed a multiple trading bots to automate strategies such as futures grid, futures martingale, spot grid, and DCA.

There's also a wealth of pre-existing strategies with historical track records available for users to copy at no cost. Copy trading is another feature that lets users follow the trades of experienced traders on the platform.

In the realm of futures trading, Bybit stands out with over 180 perpetual contracts and up to 100X in leverage.

These products include USDT perpetuals, inverse perpetual & futures, USDC perpetual & futures, and USDC Options. For options trading, Bybit offers European-style cash-settled options, priced and settled in USDC.

Bybit's margin trading options include both isolated and cross margin, giving users flexibility in how they manage their accounts.

The exchange also achieves significant trading volumes with a top 10 ranking for spot trading ($1 billion) and a top 5 ranking for derivatives trading with over $7 billion in 24-hour trading volumes.

Demo trading is another beginner friendly feature supported on Bybit, where users can test trading strategies risk-free.

For those looking to earn interest on their digital assets, Bybit offers various products like lending and borrowing, liquidity mining, dual asset investments, and more.

Users can earn interest on assets including BTC, ETH, USDT, USDC, and other coins, with options for both flexible and fixed-term earnings, staking rewards, and liquidity mining.

Bybit also introduced a unique Master Card so that its users can spend their digital assets in the real world, with the added benefit of up to 10% cashback in rewards.

The platform has recently expanded into the NFT space, supporting digital collectibles on Ethereum, Solana, Polygon, Tezos, and BNB Chain.

Additionally, Bybit offers a launchpad for early-stage projects. Users simply have to commit MNT or USDT tokens to subscribe to token allocations and receive project tokens based on their commitment.

And for high-net-worth individuals and institutions, Bybit provides an OTC desk for instantly settling large trades up to $10 million.

Overall, while eToro is more focused on offering a wide range of financial traditional assets to beginners and investors, Bybit stands out for its comprehensive cryptocurrency trading services and user-friendly interface.