eToro vs Binance: Fees and Commission

BlogDecember 16, 2021

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Surely many investors have been wondering when choosing Etoro or Binance exchange. Both of these exchanges are the top trusted and reputable brokers globally. Investiki would like to offer some comparisons to help new traders make their own decisions about choosing an exchange. We will provide comparisons between eToro and Binance based on different critical criteria. The reader will have a clearer view and save more time. This article will focus on comparing fees between two brokers: Etoro vs Binance.

Fees applicable at eToro

eToro vs Binance: Fees and Commission
Account registration is completely free

Currently, the fees and spreads charged on eToro are relatively low. Let’s take a detailed look at the fees now applied on eToro:

Spread of fees applicable to CFD Trading

In all cases, eToro will be charged a fee based on the spread of trades made on the platform. This fee is not fixed. And it will depend on the investment product that the client chooses.

Some spreads on eToro are as follows: 0.09% for ETFs and stocks; from 4 to 1,200 pips for stock index; 0.75 to 4.5% for crypto; 1 to 50 pips for currency pairs; and 2 to 20,000 pips for the commodity portfolio.

Fees for maintaining an account on eToro

To use an account on Etoro, users will have to pay a certain amount of commission. Here are some fees to pay:

1. Deposit fee

For Etoro, account registration is completely free. Users will not have to pay any fees when depositing money into the account.

2. Conversion fee

A conversion fee will be charged to the user if funds are deposited into the eToro account in a currency other than US dollars. This conversion fee is approximately US$25 each time.

3. Withdrawal fee

Users will have to pay a $5 withdrawal fee. We think this fee is quite small compared to the user’s account.

4. Overnight fees and inactivity

If investors use leverage, they will have to pay overnight fees every day. The applicable overnight fee is about 6.4% when buying. And there is 2.9% when sold. In addition, there are LIBOR fees.

eToro charges a monthly fee of approximately $10 if users do not active after 12 months. 

Fees applied on Binance

eToro vs Binance: Fees and Commission
Users will be charged a 0.1% fee for any crypto purchases or sales on Binance

In particular, the Binance platform charges fees based on the transactions made by users.

1. Cryptocurrency transaction fees

Users will be charged a 0.1% fee for any crypto purchases or sales on Binance. No fees apply for registration and account top-ups.

2. Withdrawal fee

The withdrawal fee on Binance will not usually be more than 1 EUR. However, this fee depends on the cryptocurrency you want to trade.

3. CFD trading fees

Users will need to pay a spot transaction fee when trading cryptocurrencies with CFDs. In addition, users will have to pay a management fee of 0.01% per day.

In our personal opinion, eToro would be more suitable for trading stocks with 0% commission. And Binance does not charge users for inactivity.

Above are some comparisons of fees with eToro vs Binance. The article can help users easily choose the right cryptocurrency exchange.

Investiki.com

Read more: Binance, etoro

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