Comparison of eToro vs Ascendex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the eToro vs Ascendex comparison!

Your expert: Alejandro Borja

eToro

Your expert: Xavier Tarrasó

Ascendex

Main points

Fees

Fee:

Earns

Yes

Customer service

4/5

0,10% /0,20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.7 – Competitive fees with additional benefits for social trading.

4.1 – Low trading fees with discounts for token holders.

Level

Fee:

0,10% /0,20%

Brief explanation

eToro’s commission structure primarily revolves around spread-based pricing, which can be relatively higher than some of its competitors, making it less ideal for traders who engage in frequent small trades. This means that the cost of a transaction is built into the buy and sell price of each trade, leading to no explicit commission fees but a varying spread cost depending on the asset being traded. Additionally, eToro charges a withdrawal fee and an inactivity fee if an account is not used for a certain period. These fees are somewhat offset by the absence of management or ticketing fees, which makes it attractive for users who trade less frequently but with higher volumes. Understanding these nuances is crucial for traders to manage trading costs effectively on eToro.

Altcoin Trader’s commission structure is designed with simplicity in mind, aligning with its overall user-friendly approach to cryptocurrency trading. The platform charges a flat fee of 0.25% on all trades, whether you are buying or selling. This rate is quite competitive within the industry, particularly for an exchange that prioritizes ease of use for beginners. The straightforward fee model eliminates any confusion about variable rates that can affect the cost of transactions, making it easier for new traders to understand exactly how much they will be paying per trade. This transparency in fees is part of what makes Altcoin Trader a preferred choice for those new to the crypto markets.

eToro

Year Founded: eToro was established in 2007, demonstrating a long-standing presence in the financial markets. This longevity in the industry underscores its experience and resilience, adapting to various economic cycles and regulatory environments over the years.
Number of Users: With over 20 million registered users globally, eToro has a substantial user base that reflects its widespread acceptance and trust among investors. A large community not only signifies a trusted platform but also enhances the social trading experience by providing more insights and strategies to follow.
Security Methods: eToro employs advanced security protocols to protect user data and funds. These include SSL encryption, secure login methods, and adherence to strict regulatory guidelines, ensuring a high level of security that meets global standards.
Possible Regulation: eToro is regulated by several respected bodies, including the Cyprus Securities Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). This regulation is critical for ensuring fair trading practices and protecting the interests of investors.
Reputation and Reviews: eToro enjoys a positive reputation in the industry, supported by generally favorable reviews from users. Its innovative platform and commitment to user satisfaction have been widely acknowledged in numerous reviews and testimonials, which praise its user-friendly interface and social trading features.

Ascendex

Year Founded: Established in 2015, Altcoin Trader has been in operation for several years, allowing it to develop a deep understanding of the market dynamics and user needs. This longevity in the volatile crypto market underscores its resilience and adaptability.
Security Methods: Altcoin Trader employs robust security measures, including cold storage for the majority of the assets, which significantly reduces the risk of hacks and unauthorized access. This focus on securing user funds is a critical factor in building trust.
Reputation and Reviews: The platform has built a strong reputation within the South African cryptocurrency community. User reviews often highlight the reliability of the service, the responsiveness of customer support, and the ease of use of the platform.
Transparency: Altcoin Trader is known for its transparent operational practices, including clear communication about fees and any changes to the trading environment. This transparency helps build trust and ensures users feel secure in their trading decisions.
Customer Service: The exchange has a dedicated customer service team that is accessible and responsive. This service ensures that users can receive quick and helpful responses to their inquiries or issues, which is crucial for both new and experienced traders.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token ASD

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

eToro Group Ltd.

AscendEX (formerly BitMax)

Regulation

Regulated in Chipre, el Reino Unido y Australia

Not regulated

Year founded

2007

2018

Founder

Yoni Assia

George Cao and Ariel Ling

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

eToro	FEATURES	Ascendex
eToro offers a low minimum trade amount, making it accessible for beginners yet slightly higher than some competitors.	Minimum Trade	The minimum trade amount is reasonable, accommodating both small and larger investors.
Fees are higher due to spread pricing; beneficial for less frequent, larger trades.	Trading and Transaction Fees	Fees are competitive but could be improved to match or undercut major competitors.
Offers a moderate range of popular cryptocurrencies but lacks some of the lesser-known altcoins.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as larger global exchanges.
A decent variety of trading pairs available, though not as extensive as larger exchanges.	Crypto-to-Crypto Trading Pairs	Limited to more common pairs, lacking the extensive options found on larger platforms.
eToro provides clear information on fees and features but could improve in showing all terms upfront.	Website Transparency	The website provides clear and straightforward information on fees, policies, and trading options.
eToro does not provide an exchange card for in-store purchases and associated benefits based on the available data.	Credit/Debit Card	Altcoin Trader lacks a branded exchange card, limiting the versatility of funds access and usage beyond the digital platform.
Provides a secure digital wallet app but less control compared to dedicated wallet services.	Storage Offering	Provides secure cold storage options, ensuring a high level of security for stored assets.
Offers staking for some cryptocurrencies with rewards, but the options and rates are limited.	Staking and Rewards	Limited options for staking and rewards, not as competitive as other exchanges offering these services.
Both mobile and desktop platforms are user-friendly and highly functional.	Mobile App and Desktop	Offers functional mobile and desktop platforms, though they lack some advanced features.
Good customer support with multiple channels available, though response times can vary.	Customer Service	Responsive and helpful customer service, providing support through multiple channels.
Easy deposit and withdrawal processes, but some users may find the withdrawal fee structure cumbersome.	Deposit and Withdraw	Efficient processes for deposits and withdrawals, though mainly catering to local (South African) users.

Key features

Analysis tools

Social trading, advanced charting tools

Technical analysis tools, charting

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Social trading, copy trading, staking, eToro Club rewards

Margin trading, futures contracts, staking, AscendEX Earn program

Anonymity

Key points

Available cryptocurrencies

30+ (focus on popular assets)

150+

User-friendliness

eToro features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on social trading, allowing users to follow and copy trades from experienced traders.

AscendEX offers a well-designed and user-friendly platform that caters to both novice and experienced traders. The interface is intuitive, and the platform provides helpful resources to guide users through the trading process.

Value for money

Delivers reasonable value for money with competitive fees and a focus on social trading, making it an attractive option for new traders.

Provides good value for money, offering low trading fees and access to a variety of trading tools and features.

Countries of operation

United States, United Kingdom, Europe, Australia, Canada

United States, United Kingdom, Canada, Australia, Singapore

Best for

Suitable for new traders interested in social trading and following the strategies of successful traders, with competitive fees.

Great for both novice and experienced traders who want access to a variety of trading tools, low trading fees, and advanced features.

Base currencies available

USD, BTC

USD, BTC, USDT

Account

Trading

eToro is known for its social trading features, allowing users to follow and copy trades from experienced traders. It offers a wide range of cryptocurrencies but has higher fees compared to some exchanges.

Ascendex, formerly known as BitMax, offers comprehensive trading options including spot, margin, and futures trading. Its advanced trading tools are beneficial for seasoned traders. However, new users might find the platform’s complexity challenging initially.

Deposit and withdrawal

eToro offers multiple deposit options, including bank transfers, credit/debit cards, and e-wallets. Withdrawals are processed within a day, but fees are higher compared to some exchanges .

Ascendex offers diverse deposit and withdrawal methods including bank transfers, credit/debit cards, and crypto deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive.

Account opening process

eToro offers a seamless and fully digital account opening process. Users need to provide personal information, verify their identity, and typically get their account approved within a day. It’s user-friendly and efficient.

Ascendex’s account opening is fully digital and quick. Users need to provide personal information and verify their identity. The process is streamlined and user-friendly, allowing for account approval typically within a day.

KYC required?

Yes

Customer Service

eToro offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

Ascendex offers customer support through email, live chat, and a comprehensive FAQ section. The response time is quick, and support is available 24/7, ensuring users can get help whenever needed.

Security

eToro offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, ensuring high security for investors.

Ascendex ensures security through 2FA, encryption, and cold storage. While the platform is secure, it is not regulated by top-tier authorities, which might be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

At Threenvest, we understand the importance of choosing the right cryptocurrency exchange for your trading and investment needs. eToro, with its distinctive blend of social trading features and a user-friendly platform, presents a compelling option for those new to cryptocurrency trading as well as seasoned traders seeking a more community-oriented trading environment. The platform stands out for its wide array of cryptocurrencies, including popular choices like Bitcoin and Ethereum, as well as its innovative social trading tools that allow users to learn from peers and mimic successful traders’ strategies. These features make eToro particularly attractive to users who value a collaborative approach to trading. However, it’s important to weigh eToro’s offerings against its limitations. Compared to other exchanges, eToro’s fee structure, primarily based on spreads, may be higher, particularly for less popular cryptocurrencies or during volatile market conditions. Additionally, while eToro offers a robust platform that caters well to beginners and intermediate users, advanced traders might find the technical tools insufficient for complex strategies. At Threenvest, we recommend eToro for users who prioritize ease of use, educational resources, and social trading capabilities. For those requiring advanced trading capabilities and lower fee structures, exploring other platforms might be advisable. Ultimately, aligning your specific trading style and needs with the features offered by eToro will determine if this platform is the right choice for you.

Xavier Tarrasó

As an expert on our website, I recommend Altcoin Trader for South African users new to the cryptocurrency market, given its user-friendly interface and robust security measures. While it offers a decent variety of cryptocurrencies and straightforward deposit and withdrawal processes, potential users should be aware of its limited crypto-to-crypto trading pairs and the absence of credit/debit card support. For those starting out or primarily trading in major cryptocurrencies, Altcoin Trader provides a solid platform to begin your investment journey securely.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.