eToro and Robinhood take different approaches to trading stocks, crypto, and more. Read on to see their strengths, weaknesses, and how they compare.

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Robinhood and eToro helped introduce a whole new demographic to the world of investing.

Both platforms offer a simple, intuitive, and accessible way to trade. And theyve both become extremely popular in recent years.

But how do their features compare? Are their fees fair? Are they secure and private?

Get the answers to all these questions and more in our detailed review below.

 eToroRobinhood
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eToro

Robinhood

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Benefits and Features

Stock Trading
$0
$0
Options Trading 
$0
Mutual Fund Trading 
No
Cryptocurrencies Supported
26 (24 in the US)
ETC, ETH, BSV, BCH, BTC, DOGE, LTC
Fiat Currencies SupportedUSD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, ZAR, RUB, CNH, NOK, SEK, TRY, MXN, SGD, PLN, HUF, CZK, RON
USD
Digital Wallet
Yes
No
Transaction Fee
Free
No
Copy Trading
Yes
No
Limit Orders
Yes
Yes
Interest Accounts
Up to 90% for ADA and TRX
Up to 0.30%
Crypto Loans
No
No
Bank Account Purchase Fee
Free
No
Debit Card Purchase Fee
Free
No
Banking No service fees for Robinhood Cash Management account. Free debit card with no in-network ATM fees or foreign transaction fees
Mobile App
Yes
Yes
ACH Transfer Fee
Free
No
Wire Transfer Fee
Free
No
Crypto Conversion Fee
0.10%
No
Anonymity
No
No
Biometric Login
No
TouchID or FaceID
Cold Storage
Yes
Yes
Two-Factor Authentication
SMS
Yes
Withdrawal Limit
$30 minimum
$50,000 per business day
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Robinhood: Pricing information from published websites as of 04/18/2020.

What are eToro and Robinhood?

eToro
In the U.S., eToro is primarily a cryptocurrency trading platform with an emphasis on social trading. Theyre known for their popular CopyTrading feature, which allows users to automatically mimic the trades of other successful traders.

If you havent already developed your own strategy, eToro is a big help. You can learn from experienced traders or take a hands-off approach without paying the high fees of a traditional financial manager.

eToro were founded in Israel in 2007 with the goal of making trading accessible to everyone. International users can trade in securities, commodities, and Forex, but those arent available in the U.S.

Theyve got an app and a desktop site, and make their money through fees.

Robinhood
Founded in 2013, Robinhoods primary business is commission-free trading of stocks and exchange-traded funds (ETFs) through their app. In 2018, they launched an additional crypto service focusing on Bitcoin and Ethereum and have added a range of other coins since.

Robinhood is headquartered in Menlo Park, California. They offer stocks listed on the Nasdaq and New York Stock Exchange, plus a range of popular stocks from international exchanges. Their services are currently limited to citizens of the U.S.

Robinhood makes its money from directing user orders to market makers who then execute the trades[1]

Other sources of income include their $5 monthly Robinhood Gold subscriptions, the lending of margin securities, interest generated from uninvested cash, and interchange fees from the Robinhood debit card.

Pros and Cons

eToro Pros and Cons

  • Copy top traders
  • Commission-free
  • Virtual practice accounts
  • Membership tiers for extra perks
  • Fewer coins offered
  • Slow customer service
  • Cant withdraw crypto directly

Choose eToro if: You want to be able to copy the moves of other traders; you want a more social experience

Robinhood Pros and Cons

  • Beginner-friendly
  • Commission-free
  • High-level security
  • Trade stocks, ETFs, and options
  • U.S. only
  • Small selection of cryptocurrencies
  • Cant withdraw crypto

Choose Robinhood if: Youre interested in (or already are) trading stocks, ETFs, and options and want to manage your crypto holdings and stocks in one place; youre interested in only a few coins

Robinhood

What Securities and Cryptocurrencies Do They Support?

eToro
eToro currently offers 22 different cryptocurrencies and stablecoins in the U.S.:[2]

  • Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Cardano, Iota, Stellar, EOS, NEO, Tron, ZCash, Tezos, Compound, Chainlink, Uniswap, Yearn.finance, Dogecoin, Aave, Decentraland

They offer stocks and CFDs from the following markets:[3]

  • New York Tech, New York, Frankfurt, London, Paris, Madrid, Milan, Zurish, Oslo, Stockholm, Copenhagen, Helsinki, Hong Kong, Lisbon, Brussels, Saudi Arabia, Amsterdam

eToro supports CFD trading of commodities, including:[4]

  • Gold, Oil, Natural Gas, Silver, and Platinum

They also offer Forex trading of popular currencies, ETFs, and indices.

Robinhood
Robinhood currently supports the trade of 7 cryptocurrencies for U.S. citizens or legal resident.[5]

  • ETC, ETH, BSV, BCH, BTC, DOGE, LTC

Robinhood

Buy and Sell Cryptocurrency

Robinhood Crypto offers commission-free cryptocurrency investments 24/7. Some of the crytocurrencies available are Bitcoin, Dogecoin, Ethereum, and Litecoin. This offer is currently available to selected states.

In addition, they offer a wide range of stocks and option trading and ETFs.[6]

Where are They Available?

Robinhood
Robinhood is currently only available to U.S. citizens or legal residents. Their crypto trading service is only available in 46 states and Washington, DC. [7]

U.S. States where crypto trading on Robinhood is NOT available

  • Hawaii
  • Nevada
  • New Hampshire
  • West Virginia

eToro
eToro is available in over 100 countries worldwide, including the U.S. However, only their crypto market is available to U.S. residents.[8]

They support the following fiat currencies: USD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, ZAR, RUB, CNH, NOK, SEK, TRY, MXN, SGD, PLN, HUF, CZK, RON

Due to regulatory issues, these are many countries where you cannot use eToro

Countries where eToro is NOT available

  • Afghanistan
  • Aland Islands
  • Albania
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Armenia
  • Aruba
  • Bahamas
  • Barbados
  • Belarus
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bonaire
  • Bosnia and Herzegovina
  • Botswana
  • Bouvet Island
  • Brunei
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Central African Republic
  • Chad
  • Chagos Islands
  • China
  • Christmas Island
  • Cocos Islands
  • Comoros
  • Congo Republic
  • Cook Islands
  • Cote dIvoire
  • Crimea Region
  • Cuba
  • Curacao
  • Democratic Republic of the Congo
  • Djibouti
  • Dominica
  • El Salvador
  • Equatorial Guinea
  • Ethiopia
  • Faeroe Islands
  • Falkland Islands
  • Fiji
  • Gabon
  • Gambia
  • Ghana
  • Greenland
  • Grenada
  • Guatemala
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and McDonald Islands
  • Honduras
  • Hong Kong
  • India
  • Indonesia
  • Iran
  • Iraq
  • Jamaica
  • Japan
  • Kiribati
  • Kosovo
  • Kyrgyzstan
  • Laos
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Macau
  • Madagascar
  • Malawi
  • Maldives
  • Mali
  • Marshall Islands
  • Mauritania
  • Mauritius
  • Micronesia
  • Moldova
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nauru
  • Nepal
  • Netherlands Antilles
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • Norfolk Island
  • North Korea
  • North Macedonia
  • Northern Cyprus
  • Pakistan
  • Palau
  • Palestinian Territories
  • Panama
  • Papua New Guinea
  • Paraguay
  • Pitcairn Islands
  • Russia
  • Rwanda
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Pierre
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome
  • Saudi Arabia
  • Serbia
  • Sierra Leone
  • Sint Maarten (Dutch Part)
  • Solomon Islands
  • Somalia
  • South Africa
  • South Georgia and the South Sandwich Islands
  • South Sudan
  • Sri Lanka
  • Sudan
  • Suriname
  • Svalbard and Jan Mayen
  • Swaziland
  • Syria
  • Tajikistan
  • Tanzania
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Uganda
  • Uzbekistan
  • Vanuatu
  • Vatican City
  • Venezuela
  • Virgin Islands (British)
  • Yemen
  • Zambia
  • Zimbabwe

eToro & Robinhood Features

Although both are primarily trading platforms, eToro and Robinhood offer a range of different features. Lets see how they compare.

1. Cryptocurrency Exchange

eToro
U.S. residents are only able to access eToros cryptocurrency exchange. They offer 22 cryptocurrencies to buy, sell, and trade — more than 3x what Robinhood offers. That means unless youre looking to trade only the most popular cryptocurrencies, eToro has a clear advantage.

International users will find eToro a much more extensive platform, and can participate in trading a range of mostly American and European stocks, ETFs, CFDs, and indices, as well as commodities, and Forex.

eToro supports limit orders and margin trades.

Robinhood
Robinhood is focused primarily on the U.S. stock market; the most value will come from the ability to trade stocks, options, and ETFs.

With only 7 of the most common cryptocurrencies available to trade, they offer just enough to be able to call themselves a crypto exchange.

At time of writing, they also dont let users withdraw their crypto coins, or access their wallets directly. That means if you want to spend your crypto or send it elsewhere, youll have to buy it on another platform.

Robinhood supports limit orders but not margin trading.

2. Earn Interest & Rewards

eToro
eToro users can earn rewards from staking Cardano (ADA) and Tron (TRX).

While the options are relatively limited, the returns are quite high. Members of their tiered loyalty program can earn between 75% to 90% returns per month on both cryptocurrencies, after an intro period of 7-9 days.

Robinhood
Robinhoods Cash Management service allows users to earn 0.30% APY on uninvested cash — fiat currency in your account that you havent yet invested in a stock or cryptocurrency.

Theres no minimum balance, and you can withdraw your cash at any time, free through in-network ATMs all over the country. Find them through the Cash Management tab of the app.

Cash Management funds are FDIC insured for up to $250,000.

The takeaway here is that Robinhood offers a safe but small reward for storing your funds on their platform, while eToro offers a potentially huge return month over month (if the prices of Cardano and Tron remain stable).

3. Memberships

eToro
eToro Club is a range of tiered VIP accounts. They offer a variety of perks, including bonuses to staking interest rates, dedicated account managers, access to newsletters, reports, and webinars, plus customer service benefits.

Base users automatically start at the Bronze level. Benefits start at Silver, which requires $5,000 in equity, and the tiers go up to Diamond, which requires $250,000.

Robinhood
Robinhoods premium margin account is called Robinhood Gold. Normal Robinhood account holders cant trade on margin. Robinhood Gold members can, for a $5 monthly fee.

Robinhood Gold members gain access to margin trading up to 2x, Morningstar reports, Level II market data from Nasdaq, and larger instant deposit limits, depending on their account balance.

4. Educational Resources

eToro
eToros blog will keep you up to date on the latest crypto news with Weekly Crypto Roundups. Users can access video tutorials for new traders trying to understand the world of crypto and how to trade on the platform, plus detailed financial guides.

Their practice account feature allows beginners or the experimentally inclined to trade with $100k of virtual money, in order to get a feel for the market and the platform.

Robinhood
Robinhoods app will keep users up to date on the latest market news. They have a series of helpful guides for beginners to investing online, and you can sign up for Robinhood Snacks, a 3-minute newsletter that offers their take on daily financial news.

Social Trading is eToros bread and butter. Their CopyTrader feature allows users to mimic the trades of successful traders for free, instead of paying the expensive fees of a traditional financial advisor.

They rate traders with metrics like risk score, monthly and yearly performance, portfolio composition, number of trades, and number of followers. Traders can discuss strategies and market news through a public feed available on everyones page.

  • The copy trading minimum is $200
  • The max is $500,000
  • Follow up to 10 traders at a time.
  • Users can opt to stop copying any trader if the value drops below a certain percent

The CopyPortfolio feature is an extension eToros CopyTrading. With a higher minimum investment of $5,000, it allows you to minimize risk by investing in one of five portfolios of cryptocurrencies, rather than following a single trader:

  • BitcoinWorldWide
  • FuturePayments
  • CryptoEqual
  • Crypto-Currency
  • CryptoPortfolio

Fees

Robinhood Fees
Robinhood is a commission-free exchange, but they do charge some fees.

Robinhood does not charge:

  • Bank transfer fees
  • Incoming account transfer fees
  • ACH fees
  • Wire fees
  • Stop payment fees
  • Account maintenance fees
  • Inactivity fees

Robinhood does charge:

  • $75 account transfer fee (outgoing)
  • $20 domestic overnight mail
  • $50 international overnight mail
  • $5 paper statements
  • $5 per month on Robinhood Gold

Stock sell orders are subject to SEC and FINRA fees:

  • SEC: $5.10 per $1,000,000 of principal (rounded up to the nearest penny).
  • FINRA Trading Activity Fee: $0.000119 per share (rounded up to the nearest penny, up to $5.95).

Using limit orders, Robinhood attempts to eliminate the bid/ask spread on crypto trades. However, that also means orders arent guaranteed to execute unless the coin reaches your desired buy or sell price.

eToro Fees
eToro is also a commission-free exchange. Accounts are free to open and there are no management fees.

However, trading is not entirely free. This is due to their variable spread—the difference in buy and sell price for assets available on a platform. While Robinhood has attempted to eliminate the spread, eToro only charges it once, on purchases.

The spread differs from one coin to the next, ranging from 0.75% - 5%, and may change over time. You can find a detailed breakdown here.

  • minimum investment on eToro is $50
  • minimum withdrawal is $30
  • minimum crypto withdrawal varies by coin, listed here

eToro does charge:

  • Cryptocurrency Transfer fee (varies depending on each blockchain provider)
  • $5 withdrawal fee in countries other than U.S.
  • $10 inactivity fee if account has no activity for 12 months
  • Overnight fee for leveraged positions held overnight, charged per night

Security

Its important to know that your money and your data is protected. Lets see how each platform manages your security.

eToro Security
eToro employs the following security features:

  • Insurance: $1m investment insurance for clients of eToro Europe, UK, and Australia; USD balances FDIC insured up to $250k
  • Two-Factor Authentication: SMS
  • SSL Encryption: To protect transactions and personal information
  • Cold Storage

Robinhood Security
Robinhoods security features include the following:

  • Insurance: SIPC Insurance protects securities customers up to $500,000 ($250,000 for claims for cash); Excess of SIPC coverage through underwriters at Lloyds of London provides up to $100 million of coverage; up to $1.5 million for cash, $10 million for securities per customer; Cryptocurrency crime insurance is provided by underwriters at Lloyds of London
  • 100% Reimbursement for Unauthorized Activity: Robinhood covers any direct losses due to unauthorized account activity as long as it is not the fault of the user. Includes cash, securities, and crypto.
  • Two-Factor Authentication: SMS or App
  • Hashed Account Passwords: Using industry-standard BCrypt hashing algorithm
  • Encryption: Sensitive information is encrypted before storage
  • Biometric Login: TouchID or FaceID
  • Transport Layer Security (TLS) protocol: To communicate with servers

Ease of Use

As both apps cater to non-expert traders, eToro and Robinhood are quite easy to use, even if youre just getting started trading for the first time.

Robinhood stands out a little here. Theyve done an excellent job of designing an intuitive interface that may offer less information than a traditional trader may be used to, but still manages to cover the basics needed for making informed trades.

eToros interface is a little more complicated, meaning it may take more getting used to, but provides more data once you do.

Looking for a crypto trading platform thats more beginner-friendly? Coinbase is definitely worth a look. Or, check out popular Coinbase alternatives for even more options.

Customer Support

eToro
To contact eToro customer service, visit their Customer Service page, where you can open a ticket as a new or existing user or access live chat.

Due to a high volume of requests, they recommend checking their Help Center for answers to your questions, as responses to support tickets can take up to 14 days.

Robinhood
Robinhoods Help Center will help users answer general and frequently asked questions.

You can contact them directly when signed in, or through their email at support@robinhood.com. They do not provide phone support.

Bottom Line

Ultimately, whether you choose eToro or Robinhood comes down to the focus of your trading and your location. If youre outside the U.S., Robinhood isnt available at all. For U.S. residents, eToro will suit those who are interested in trading primarily crypto, and Robinhood will be useful for those interested in trading stocks.

Each app has a lot to offer for retail investors, especially ones looking to expand their knowledge of the trading world. And since neither of them charges account or maintenance fees, theres no preventing you from downloading both.

Robinhood

References

Jeremy Harshman is a protector of art and writing at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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