Comparison of eToro vs Bingx [ 2024 ]

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

Your expert: Alejandro Borja

eToro

Your expert: Xavier Tarrasó

Bingx

Main points

Fees

Fee:

Earns

Yes

Customer service

4/5

0,10%

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.

4.0 – Competitive fees with additional benefits for social trading features.

Level

Fee:

0,10%

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.

BingX offers a competitive and transparent fee structure that is designed to accommodate both occasional and frequent traders. The platform charges a trading fee for each transaction, which is broken down into maker and taker fees. These fees are competitively set to encourage trading activities while ensuring the platform can maintain high-quality services. The trading fees on BingX are tiered based on the user’s trading volume, which means that the more you trade, the lower your fees can be. This system is particularly advantageous for active traders who can benefit from significantly reduced costs as their trading activity increases. Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain. Overall, BingX’s commission structure is built to support both new entrants to the crypto market and seasoned traders, ensuring transparency and fairness in every transaction.

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.

Bingx

Security Methods: BingX implements stringent security protocols, including two-factor authentication, cold storage of assets, and encryption technologies. These measures ensure a high level of protection for user funds and personal information, making it a trustworthy platform for trading cryptocurrencies.
Reputation and Reviews: BingX has built a solid reputation within the crypto community, backed by positive user reviews and ratings. The platform's commitment to user satisfaction and continuous improvement has garnered trust and loyalty among its users.
Transparency: BingX operates with a high degree of transparency, providing clear information about its operations, fee structure, and trading processes. This openness is crucial in building trust with users and differentiates BingX from other exchanges that might not be as forthcoming.
Trading Volume and Liquidity: The exchange boasts significant trading volume and liquidity, ensuring that trades can be executed quickly and at stable prices. High liquidity not only enhances the user experience but also establishes BingX as a reliable exchange for handling large volumes of trades efficiently.
Customer Service: Despite some delays, BingX's dedication to providing helpful and responsive customer service contributes to its trustworthiness. The platform's efforts to improve response times and expand its support capabilities demonstrate a commitment to user support, crucial for trust and reliability in the fast-paced crypto market.

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

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

eToro Group Ltd.

BingX Trading

Regulation

Regulated in Chipre, el Reino Unido y Australia

Not regulated

Year founded

2007

2018

Founder

Yoni Assia

Elvisco Carrington

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

eToro	FEATURES	Bingx
eToro offers a low minimum trade amount, making it accessible for beginners yet slightly higher than some competitors.	Minimum Trade	The minimum trade size is accessible for beginners, allowing small investments to start trading.
Fees are higher due to spread pricing; beneficial for less frequent, larger trades.	Trading and Transaction Fees	Competitive fees compared to industry standards, making it economical for frequent trading.
Offers a moderate range of popular cryptocurrencies but lacks some of the lesser-known altcoins.	Number of Cryptocurrencies	Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.
A decent variety of trading pairs available, though not as extensive as larger exchanges.	Crypto-to-Crypto Trading Pairs	A wide array of trading pairs provides good options for crypto-to-crypto trading.
eToro provides clear information on fees and features but could improve in showing all terms upfront.	Website Transparency	Highly transparent about trading processes and fees, providing clear and easy-to-find information.
eToro does not provide an exchange card for in-store purchases and associated benefits based on the available data.	Credit/Debit Card	While BingX provides a robust trading platform with various features, the lack of an exchange card limits additional spending flexibility and rewards for its users
Provides a secure digital wallet app but less control compared to dedicated wallet services.	Storage Offering	Offers robust storage solutions including cold storage options to secure user funds.
Offers staking for some cryptocurrencies with rewards, but the options and rates are limited.	Staking and Rewards	Provides staking options with competitive rewards, enhancing passive earning potential.
Both mobile and desktop platforms are user-friendly and highly functional.	Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.
Good customer support with multiple channels available, though response times can vary.	Customer Service	Good customer support with room for improvement in response times and accessibility.
Easy deposit and withdrawal processes, but some users may find the withdrawal fee structure cumbersome.	Deposit and Withdraw	Efficient deposit and withdrawal processes with clear guidelines, but could be faster.

Key features

Analysis tools

Social trading, advanced charting tools

Trading signals, technical analysis tools

Mobile APP

Security

High 4,9/5

Additional features

Social trading, copy trading, staking, eToro Club rewards

Copy trading, margin trading, derivatives trading, BingX Academy

Anonymity

Yes

Key points

Available cryptocurrencies

30+ (focus on popular assets)

50+

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.

BingX features an easy-to-navigate platform with a focus on social trading. The user interface is designed to be beginner-friendly, allowing users to follow and copy trades from experienced traders effortlessly.

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.

Delivers good value for money with competitive fees and innovative social trading features, making it a cost-effective choice for traders.

Countries of operation

United States, United Kingdom, Europe, Australia, Canada

Singapore, United States, Canada, Australia, United Kingdom

Best for

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

Suitable for both beginners and experienced traders interested in social trading and following the strategies of other successful traders.

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.

BingX focuses on social trading, allowing users to follow and copy trades from experienced traders. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

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 .

BingX provides various deposit methods, including bank transfers and crypto. Withdrawals are fast and generally processed within 24 hours. Fees are low, making it user-friendly.

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.

BingX offers a simple and fast account opening process. Users need to fill in basic information and verify their identity. The process is fully digital and typically takes less than a day to complete.

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.

BingX provides customer support via email and live chat. The support team is responsive and helpful, although 24/7 availability is not guaranteed, which can be a limitation.

Security

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

BingX uses standard security measures like 2FA and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some investors.

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 highly recommend BingX for both new and experienced traders seeking a balanced platform. Its strong security measures and transparent trading environment provide a trustworthy space for cryptocurrency transactions. However, while the platform offers robust features, including diverse trading pairs and competitive staking rewards, potential users should note the occasional delays in customer service response times. Overall, BingX stands out as a solid choice for navigating the complexities of the crypto market.

Read eToro review

View all comparisons against eToro

Read bingx review

View all comparisons against Bingx

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.