eToro vs Plus500 Comparison – 2024

Top Reasons to Choose eToro or Plus500

Based on our hands-on research, we have drawn the following conclusions: eToro is an excellent choice for those actively engaged in social trading and crypto trading, while Plus500 stands out as an ideal option for casual traders. The table below lists the top reasons that led us to these decisions.

eToro: Snapshot

Founded in 2007, eToro provides trading opportunities in currency pairs, commodities, stocks, indices, ETFs, and cryptocurrencies. Headquartered in Israel, the broker is regulated by four Tier-1 regulators and one Tier-3 regulator. eToro is renowned for its leadership in copy trading, offering one of the largest social trading platforms globally.

eToro: Who is it For?

eToro’s offering is tailored for traders who are interested in social and copy trading. Beginner traders can follow the strategies of experienced professionals, while advanced traders can generate extra revenue by sharing their trades publicly. Crypto traders benefit from access to a wide selection of real assets as well as CFDs.

What Makes eToro Stand Out?

eToro does not charge fees for copying other traders and their strategies, which is a rare case in the industry.

Plus500: Snapshot

Founded in 2008, Plus500 provides trading opportunities in currency pairs, commodities, stocks, ETFs, indices, and cryptocurrencies. Based in Israel, the broker is regulated by four Tier-1 regulators, three Tier-2 regulators, and one Tier-3 regulator. Overall, Plus500 is a comprehensive broker, offering an excellent platform and unique tools such as +Insights.

Plus500: Who is it For?

Plus500 provides one of the most user-friendly platforms on the market, which makes it a decent choice for casual traders.

What Makes Plus500 Stand Out?

Plus500 features a unique +Insights section that leverages valuable data from its extensive community, encompassing over 400,000 active clients across 50 countries.

Trust

eToro vs Plus500 Trust and Regulation Comparison

eToro, established in 2007, operates under five entities that are regulated in Cyprus (CySEC, Tier 1), UK (FCA, Tier 1), Australia (ASIC, Tier 1), USA (FINRA, Tier 1), and Seychelles (FSA, Tier 3). It offers standard protections such as segregated funds and negative balance protection, with investor protection funds available to clients in Cyprus, UK, and USA. Our research indicated that eToro is transparent and provides easy access to key information, including fee details, on its website.

Founded in 2008, Plus500 is regulated under six entities in Cyprus, UK, Singapore, Australia (all Tier 1), New Zealand, South Africa (both Tier 2), and Seychelles (Tier 3). It similarly provides segregated funds and negative balance protection, with Cyprus and UK clients having investor protection fund access. Our research indicated that Plus500 also maintains transparency and straightforward website access to essential information, including fees.

Fees

eToro vs Plus500 Spreads, Fees and Commissions Comparison

Our tests showed that eToro spreads were mostly industry-average, although some of the fees we tested were elevated. The swap/rollover fees exceeded the industry average during our testing. eToro offers commission-free trading on most instruments, with a notable exception of a 1% commission on non-CFD crypto assets. Unique to eToro, it doesn’t charge for copying other traders’ strategies.

In Plus500’s case, our tests revealed that its trading fees were average-to-competitive compared to the broader industry. The broker mostly avoids commissions, except for a select few share CFDs, and imposes charges on guaranteed stop-loss orders. Plus500’s swap fees were found to be slightly above the industry average during our testing.

Platforms and Tools

eToro vs Plus500 Trading Platforms Comparison

eToro’s proprietary web trader platform and mobile app impressed in our tests with their user-friendly design. The web platform integrates TradingView charts, offering robust charting capabilities suitable for both beginners and advanced traders. The mobile app mirrors most features of the web version, which is a notable advantage as many industry apps lack comprehensive tools.

Plus500’s in-house WebTrader platform also boasts an intuitive interface featuring over 100 technical indicators and essential drawing tools like Fibonacci retracement levels. However, it lacks automated trading and backtesting, potentially limiting for advanced traders. The mobile app is feature-rich, maintaining a high level of functionality and tool availability.

In case you’re looking for brokers that offer third-party platforms, check out our guides on the best MT4, MT5, and cTrader forex brokers.

Tradable Instruments

eToro vs Plus500 Instruments Selection Comparison

eToro stands out with over 5,800 tradable instruments, excelling particularly in its stock and ETF selection. It also offers an impressive range of over 150 cryptocurrencies, which is significantly more than the industry average for this asset class. While its forex pair selection is industry-average, eToro’s overall portfolio is well-rounded, catering to both beginners and advanced traders.

Plus500 provides access to over 2,500 tradable instruments, featuring a robust choice of more than 1,600 stocks and ETFs. It also offers a decent variety of commodities and indices. The forex offerings are average, similar to the industry norm, but the cryptocurrency options are limited to 14. Overall, Plus500’s strong stock and ETF selection contributes to its above-average offering.

Customer Support

eToro vs Plus500 Customer Support Comparison

eToro provides multilingual customer support via email, live chat, and phone, but the latter two options are available exclusively for traders holding over $5,000 in their accounts.Our testing found email responses to be comprehensive and well-structured, typically received within two days. However, the absence of live chat for potential or low-deposit clients is somewhat unusual for the industry.

Plus500 provides customer support via live chat and email, available in 16 languages, but does not offer phone support. Our evaluations showed that their team was prompt, knowledgeable, and professional in their responses. The overall experience was very positive, though the lack of phone support might be seen as a shortfall.

Research

eToro vs Plus500 Research Tools Comparison

eToro offers a mix of in-house and third-party research materials, encompassing a broad spectrum of topics in various formats. Notably, eToro provides an interesting ESG tool from ESG Book, delivering ESG scores for over 2,700 assets. The tool is based on the principle that socially responsible companies are likely to deliver better results and could be used to identify trading opportunities. Overall, eToro’s research materials cover the needs of both beginner and advanced traders.

Plus500 combines in-house expertise with innovative platform-integrated tools. The +Insights Tool reveals buying and selling trends among Plus500 traders, offering insights into market sentiment. Its Traders’ Sentiment tool displays the proportion of long vs short positions during order entry. These tools are particularly useful for beginner traders, as they highlight areas of interest among other traders and may be used to spot trading opportunities. Plus500 also features an advanced economic calendar, which connects trading instruments to specific economic events.

Deposits & Withdrawals

eToro vs Plus500 Deposit and Withdrawal Methods Comparison

eToro clients can deposit and withdraw funds via bank wire, credit/debit cards, and e-wallets, including popular options like PayPal, Neteller, and Skrill. The broker does not charge deposit fees (conversion fees may apply). However, there is a $5 withdrawal fee, in addition to any third-party processing fees. Deposits and withdrawals are available in multiple currencies and are processed fairly quickly.

Plus500 supports deposits and withdrawals through credit/debit cards, bank wire, PayPal, and Skrill. While the range of options is somewhat narrower than the industry average, it includes the most popular methods. The broker does not impose fees on deposits or withdrawals. Processing times are typically fast, except for bank wires, which may take up to 5 business days.

Account Types and Terms

eToro vs Plus500 Account Types Comparison

eToro offers a single account type for its clients with USD as the base currency. However, the account’s specific terms vary based on the account balance. Clients are categorized into tiers, with each higher tier providing additional perks. For instance, clients with $25,000 in their accounts may gain access to Trading Central research and enjoy waived withdrawal fees.

Plus500 provides several account types with multiple base currency options, including USD, AUD, EUR, and GBP. With a total of 16 available base currencies, Plus500 significantly exceeds the industry average. Leverage options vary by entity, but professional clients may access leverage of up to 1:300 if they meet certain criteria. The minimum deposit is 100 units of the base currency, increasing to 500 units for deposits made via wire transfer.

Education

eToro vs Plus500 Educational Content Comparison

Our research showed that eToro’s educational content primarily targets beginner traders. The broker offers access to 21 trading courses covering a range of general investing topics. Additionally, eToro provides educational guides, tutorials, and podcasts. While eToro presents a broad spectrum of educational materials, advanced traders may find a lack of in-depth resources tailored to their needs.

Plus500’s educational content encompasses videos, an ebook, an FAQ section, and a series of in-depth webinars. The videos and ebook are geared towards beginners, covering essential trading topics. Advanced traders, however, will find value in the webinars, which delve into more complex subjects. Overall, Plus500’s educational offerings are fairly standard for the industry.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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