eToro versus Coinbase
Cryptocurrency traders in the US who prefer dealing with a broker may consider eToro, which launched in the US in 2019. Coinbase, operational since 2012, became one of the first exchanges and market leaders in its category by trading volume as of March 2021.
Both offer traders their proprietary cryptocurrency wallets but cater to different styles. eToro is a leader in copy trading and home to one of the largest trading communities with more than 20+ million. Coinbase is an exchange with a broad asset selection and is better suited for active traders seeking exposure to lesser-known assets.
eToro and Coinbase are popular among millennials and GenZ traders, especially those favoring mobile trading, as both offer a user-friendly mobile app.
We have conducted an in-depth review of eToro and Coinbase to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- eToro vs. Coinbase - Verdict
 |  | |
Headquarters | Israel | United States |
Regulators | ASIC, CySEC, FCA, FSA | N/A |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2007 | 2012 |
Execution Type(s) | Market Maker | Market Maker |
Minimum Deposit | $50 - $10,000 | None |
Negative Balance Protection | N/A | |
Trading Platform(s) | Proprietary platform | Proprietary platform, Web-based |
Average Trading Cost EUR/USD | 1.0 pips | N/A |
Average Trading Cost GBP/USD | 2.2 pips | N/A |
Average Trading Cost WTI Crude Oil | $0.05 | N/A |
Average Trading Cost Gold | $0.45 | N/A |
Retail Loss Rate | 74% | N/A |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
Coinbase places cryptocurrency assets in secure offline storage but has a history of theft in its online wallets. Users also complain about the lack of customer support. eToro presents a better technical analysis platform.
Available Markets
| | |
Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks | N/A | |
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Traders at eToro get a choice of 40 cryptocurrencies, while Coinbase lists 5,890. Retail traders have no access to leverage at either and derivative contracts are unavailable. eToro presently has a closed beta to test its planned equity and ETF offering, which will create a more balanced asset selection for its core trader base interested in trending assets.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 1.0 pips | N/A |
Average Trading Cost GBP/USD | 2.2 pips | N/A |
Average Trading Cost WTI Crude Oil | $0.05 | N/A |
Average Trading Cost Gold | $0.45 | N/A |
Average Trading Cost Bitcoin | $574 | 0.05% to 0.60% |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | $10 monthly after 12 monthd | N/A |
| Get Started | Get Started |
Cryptocurrency spreads at eToro range from 0.75% on Bitcoin or 1.90% on Ethereum up to 5.00% on Tezos. There are no additional commissions, but eToro levies a 0.10% crypto-to-crypto conversion and 0.50% cryptocurrency transfer fee. Coinbase lacks pricing transparency and merely notes it adds spreads unless using Advanced Trade.
Security and Trust
| | |
Country of the Regulator | Australia, Cyprus, Seychelles, United Kingdom | N/A |
Name of the Regulator | ASIC, CySEC, FCA, FSA | N/A |
Regulatory License Number | 491139, 109/10, 583263, SD076 | N/A |
| Get Started | Get Started |
eToro and Coinbase are duly registered as a Money Service Business with the Financial Crimes Enforcement Network (FinCEN) and have the necessary licenses to carry out their business. Neither one operates under the oversight of a regulatory body, is a member of the Financial Industry Regulatory Authority (FINRA), or the Securities Investor Protection Corporation (SIPC), offering protection up to $500,000 per net equity or $250,000 for cash claims.
eToro vs Coinbase – Verdict
eToro
| Pros | Cons |
| Copy-trading with a community numbering 20+ million traders | Limited deposit and withdrawal options |
| User-friendly web-based trading platform and mobile app | Low asset selection |
| Quality educational offering for beginner traders via videos | |
| Acceptable cryptocurrency spreads and proprietary cryptocurrency wallet |
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Coinbase
| Pros | Cons |
| Excellent choice of cryptocurrency assets, and US market leader by trading volume | Limited deposit and withdrawal options |
| Coinbase debit card for swift financial transactions | Lack of overall transparency, history of vulnerability to theft, and poor customer support |
| Educational content allows beginner traders to earn crypto assets | |
| Publicly listed company |
eToro shines with its active trading community and delivers its well-known copy trading service. Coinbase, as the name suggests, is a cryptocurrency exchange with one of the best overall asset selections. Both companies provide beginner traders with quality education, where eToro has more content, but Coinbase allows traders to earn crypto as they complete each lesson.
You might also be interested in reviewing the below broker comparisons:
FAQs
Can I transfer eToro to Coinbase?
It is possible to transfer physical crypto assets from wallet to wallet, but users may rely on an intermediary if a direct transfer is unavailable.
Is Coinbase cheaper than eToro?
Trading costs depend on numerous factors at Coinbase versus a percentage-based approach at eToro, but traders can usually achieve lower fees at Coinbase.
Is eToro a good place to buy Bitcoin?
eToro offers hassle-free Bitcoin purchases, making it ideal for beginner traders.
Is there a better platform than Coinbase?
Coinbase ranks among the leaders featuring 5,800+ cryptocurrency assets and direct order book transactions.