The present scenario of the crypto market is attracting lots of new users to the market. Products like copy trading and margin trading are game changers to making hefty profits.

The present situation is incredibly favourable for expanding your trades and entering the market. New traders can use copy trading to copy profitable traders’ positions quickly without spending much time on long research and study. 

 eToro and PrimeXBT are two of the most prominent names in copy trading. Saying this, I know you want to know which of the two will be the best for you, and I am here to do just that. Let’s begin with some background about these platforms.

eToro vs PrimeXBT: Introduction

PrimeXBT

primexbt overview

On the other hand, PrimeXBT, a comparatively younger founded in 2018 and headquartered in Seychelles. It includes a wide range of markets, including cryptocurrency, forex, commodities and indices and launched its trading services in early 2019. 

Use our own exclusive deposit promo bonus TMMBONUS to receive up to $7000 in their margin trading account (bonus lifetime 14 days)  

About the $7000 deposit:

  • It can be used only for Margin trading (not for Covesting, Staking, etc). 
  • The bonus lasts for 14 days after it’s entered in the dashboard. After that, it’s removed from the account. 
  • Any withdrawal also removes the bonus amount from the account.
  • The bonus amount can’t be withdrawn but it can be used for trading and you can withdraw profits from trading with this bonus.

eToro

eToro

eToro is a Tel-Aviv-based platform founded in 2007 originally under the name RetailFX as an online forex broker but later changed its name to eToro. The company entered the crypto market with BTC trading in 2014, enabling users to buy and sell CFDs.

eToro vs PrimeXBT: Supported Cryptocurrencies

eToro

eToro offers a collection of 78 crypto coins, including the major ones like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar and Tron.

PrimeXBT

primexbt trading pairs

PrimeXBT, on the other hand, supports more than 42 crypto trading pairs which you can trade against USD and BTC, including your favourites like Bitcoin, Ethereum, Ripple, EOS, Litecoin, USD Coin and Tether.

eToro vs PrimeXBT: Product Offerings

eToro

  • CFD Trading
  • Buy Crypto
  • Staking Crypto
  • Copy Trading
  • Margin Trading

PrimeXBT

  • Buy Crypto
  • Crypto Staking
  • Margin Trading
  • Copy-trading
  • Trading Contests

eToro vs PrimeXBT: Order Types

eToro

  • Market Order
  • Limit Order
  • Fill or Kill Order
  • Immediate or Cancel (IOC)
  • Good till cancelled (GTC)
  • Iceberg Order

PrimeXBT

  • Market Order
  • Limit Order
  • Stop Order
  • One- Cancels-The-Other (OCO)
  • Take Profit
  • Stop Loss

eToro vs PrimeXBT: Fees Comparison

eToro

Every time you open a position, the platform charges a 1% buy fee and when you close the position 1% sell fee is charged. The fee is adjusted according to the price of the crypto asset.

Besides these, eToro also charges a flat withdrawal fee of $5. There is no management or any commission charged for copy trading. eToro is currently offering $100,000 demo funds for any registered user on the platform.

PrimeXBT

On the other hand, PrimeXBT has a fixed fee structure for cryptocurrency trading, charging a 0.05% commission for every crypto trade, no matter which asset you choose.

In addition, it charges 0.0005 BTC for withdrawals and overnight finance fees for holding an open position overnight, which varies from trading pair to pair.

eToro vs PrimeXBT: Account Funding Methods

eToro

eToro supports more than 10 different deposit methods, which I have mentioned in the combination of their details.

  • Method 1: eToro Money, PayPal and Credit/Debit cards, Neteller and Skrill allow instant deposit and withdrawal in USD, GBP, EUR and AUD.
  • Method 2:Rapid Transfer allows instant deposit but not instant withdrawal and is available in USD, GBP and EUR.
  • Method 3: iDEAL, Klarna/Sofort Banking can be executed instantly and is available in EUR.
  • Method 4: Bank Transfer requires 4-7 days for deposits but withdrawals, instantly and available in USD, GBP, and EUR.
  • Method 5: Online Banking enables instant deposits but not withdrawals and is available in EUR, GBP, SEK, DKK, NOK, PLN, and CZK.
  • Method 6: POLi and Przelewy 24 are available in AUD and PLN, respectively, and allow instant deposits as well as withdrawals.

PrimeXBT

  • Method 1: Direct Crypto deposits allow you to transfer cryptos from your crypto wallets instantly.
  • Method 2: Deposits from MetaMask Wallet; install the MetaMask plugin in the browser you access the platform on.
  • Method 3: Buying Crypto via Credit card/SEPA transfers option allows you to buy BTC, ETH and ERC20/BEP20 tokens. 

You can also deposit USDT and USDC – using a Bank Card / SEPA transfers / Gift cards / Alternative Cryptocurrencies via third-party exchange services like Coinify, XanPool, Paxful and CEX.io.

eToro vs PrimeXBT: Trading Platform Comparison

eToro

eToro offers both comprehensive web-based and well-designed mobile applications. Supporting a wide variety of funding methods and exclusive order and product types are the major viewpoints of the platform and attract a variety of traders.

It has a powerful interface with trade charts and all the necessary tools readily available on the window.

PrimeXBT

Trade PrimeXBT

On the other hand, PrimeXBT offers a more manageable and straightforward trading interface consisting of all the advanced order types and trade-specific functionalities.

PrimeXBT is suitable for both beginners and advanced traders. The trading window consists of all the basic as well as advanced options and features for an optimized trading experience.

The platform makes it easy to the ground to learn and practice through demo trading accounts and then execute your trades according to your trading strategy with complete control. PrimeXBT also offers affiliate programs to earn even greater rewards through referrals.

eToro vs PrimeXBT: Account Types & KYC

eToro

KYC is mandatory on eToro for registering on the platform to comply with the regulatory norms. Once your account is verified, you can enjoy the platform’s benefits.

To be verified, you need to upload both proof of identity (POI) and proof of address (POA). Upload full document without cropping and in clear focus. POI should contain the name, DOB, clear photograph, issue and expiry date, which should be government issued.

For POA document should contain your name, address and issue date. It should not be older than 3 months. You can upload your Bank Statement, Credit Card Statement, Electricity, Water, Gas, Phone, Internet or Council Tax Bill, as well as Tax letter, House Rental Official Agreement or Letter from your Local municipality.

PrimeXBT

On the other hand, Prime XBT understands your choice to stay anonymous and doesn’t mandate KYC. However, the platform reserves the right to verify the client’s identity or source of funds if AML regulations are hampered, known as Customer Due Diligence (CDD).

Under CDD, the users must submit Proof of Identity, address and source of funds. Although CDD is carried out very rarely, if you do not abuse the default trading procedures or jeopardise it, you can trade anonymously with complete accessibility.

eToro vs PrimeXBT: How to get started?

eToro- Opening account and deposit

  1. Sign up for eToro by entering your personal data, or sign up using Facebook or Google directly and submit by clicking the ‘Sign-up’ button.
  2. Then you can verify yourself by going through the KYC procedures, and submitting POI and POA documents.
  3. Now you can deposit on the platform. Click on “Deposit Funds”, enter the amount and select the currency and your preferred deposit method.

eToro- Copy trading

  1. Choose the user that you’d like to copy.
  2. Input the amount you’d like to allocate and click “COPY”.

PrimeXBT-Opening account and deposit

As I told you earlier, opening an account is pretty easy on PrimeXBT, with no lengthy KYC procedures and no waiting time to verify your account. Just a snap and you are ready to trade; it’s that simple. Let me tell you how it’s done.

  1. Visit the official PrimeXBT website and click the “Register” button or click here.
  2. Enter the full name, email and choose a strong password for your account. Then click and accept the terms and click “Submit”.
  3. Then a verification email is sent to your email, click the link, and you will be automatically logged in to your account.
  4. Make sure you secure your PrimeXBT account with two-factor authentication via google authenticator readily provided by the platform.
  5. You can then deposit by selecting your preferred method from the deposit window present on the dashboard.
  6. Select the desired amount to deposit and click the blue “Deposit” button.

For more step-by-step information in detail for each deposit method, click here.

eToro vs PrimeXBT: Customer Support

eToro

The platform offers customer support through help centres and support tickets. The help centre comprises one of the most comprehensive collections of articles where new traders can quickly learn and solve their queries.

eToro also employs managers for most active traders with an equity of $5000 or above.

PrimeXBT

Regarding Prime XBT, with 24×7 operations, and a highly knowledgeable and professional assistance team, the customer support is quite reliable. In case you have any other additional queries, you can contact them directly via email at support@help.primexbt.com or info@primexbt.com.

The platform also offers instant web chat, available readily on the website and can instantly connect with them through chat assistance. The platform’s assistance team responds within seconds of sending a message.

eToro vs PrimeXBT Security Features

eToro

eToro is a reputable trading company offering a secure ecosystem for a safe trading experience. eToro uses a combination of cold and hot wallets, reducing the chances of losing funds due to a hack or operational error.

In affiliation with GK8, one of the leading cybersecurity firms, the exchange deploys cold storage. 

Custody as a Service (CaaS). Additionally, the exchange encourages its users to set up two-factor authentication (2FA), which adds an additional layer of security to the platform.

PrimeXBT

PrimeXBT has an impenetrable security system that implements all the industry-leading features. With top-notch SSL encryption and risk check after every order placement and execution, PrimeXBT has one of the most trustable overall trading interfaces.

All the passwords are cryptographically hashed, while all the other sensitive data is encrypted. PrimeXBT has a mandatory Bitcoin address whitelisting feature and Cloudflare to mitigate potential distribution denial-of-service (DDoS) attacks.

The platform also conducts regular tests and check-ups by its technical team and continuous IT security assessment to keep up to date with new potential vulnerabilities.

Together with that, they offer two-factor authentication and prevent unauthorised access to a user’s account. With that, they also store most of their user’s funds in cold storage. With these many security features, PrimeXBT is a 100% safe and secure platform.

Which Margin & Copy Trading Platform is best? 

As you might already know, margin trading lets you trade with borrowed funds from the broker to trade crypto forming the collateral for the loan from the broker. Whereas copy trading lets you copy the financial positions opened and managed by other traders.

Now, let’s discuss which one among them is the best for margin and copy trading.

eToro-Copy Trading

Minimum deposit $1
Minimum amount to invest in a trader $200
Maximum amount of traders can be copied simultaneously 100
Maximum amount can be invested in one trader $2,000,000
Execution Speed < 1 second
Minimum CSL value 5%
Maximum CSL value 95%

Margin Trading

eToro allows up to 30x leverage on major currency pairs, 20x for non-major ones, and 2x for cryptocurrencies.

PrimeXBT- Copy Trading

Minimum deposit 0.01 BTC
CCY Balance BTC, ETH, USDT, USDC, COV
Assets Crypto 41, FX 50, CFD 14
Spreads from 0
Max leverage 1% (1:100)
Commission from 0,0001%
Execution Market
Execution speed up to 20 ms
Order types Limit, Stop, OCO, Market
Promo
Following Yes
Following min amount 0.001 BTC
Following entry fee 1%
COV Utility Yes

 

Margin Trading

Minimum deposit
CCY Balance BTC, ETH, USDT, USDC, COV
Assets Crypto 41, FX 50, CFD 14
Spreads from 0
Max leverage 0.1% (1:1000)
Commission From 0,0001%
Execution Market
Execution speed up to 20 ms
Order types Limit, Stop, OCO, Market
Promo Promocodes, Account status
Following No
Following min amount
Following entry fee
COV Utility No

 

Verdict: Millions of users from around the globe have voted PrimeXBT as the best option for margin and copy trading. With a lot more leverage, multiple order types and affordable pricing PrimeXBT is undoubtedly the best.

Conclusion

When looking at eToro and PrimeXBT, both these platforms seem similar, offering similar products and options to the traders. But when differentiating them in detail now, it is clear that PrimeXBT is a better alternative to eToro.

With the far more affordable pricing, impenetrable military-grade security systems, and the best margin and copy trading capabilities, PrimeXBT is a better option for both beginners and advanced-level traders.

So, what are you waiting for? Visit PrimeXBT and make your trades flourish towards enormous profitability.