Comparison of eToro vs Poloniex [ 2024 ]

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

Your expert: Alejandro Borja

eToro

Your expert: Xavier Tarrasó

Poloniex

Main points

Fees

Fee:

Earns

Yes

Customer service

4/5

≤0,25%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

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 token holders.

Level

Fee:

≤0,25%

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.

Poloniex maintains a straightforward and competitive fee structure that benefits a wide range of traders. The exchange primarily operates on a maker-taker fee model, with fees varying depending on the user’s 30-day trading volume. Generally, maker fees start at 0.145% and can go as low as 0.00%, while taker fees start at 0.155% and decrease to 0.10% for high-volume traders. This tiered approach incentivizes frequent trading and offers cost-effective options for active users. Additionally, there are no fees for cryptocurrency deposits, although withdrawal fees vary by cryptocurrency and are adjusted based on network conditions to ensure transactions are processed swiftly.

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.

Poloniex

Security methods: Poloniex employs robust security protocols including cold storage for funds, two-factor authentication, and encryption, ensuring a secure trading environment for its users.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Customer service: Poloniex offers comprehensive customer support with a detailed FAQ section, a ticketing system, and a chatbot to help users resolve issues quickly and effectively. This ensures that users receive the assistance they need in a timely manner.
Transparency: Poloniex provides transparent trading practices and clear fee structures, making it easy for users to understand exactly what they are paying and why. This level of transparency builds trust among users and is a significant factor in choosing Poloniex as a trading platform.

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.

Polo Digital Assets, Ltd.

Regulation

Regulated in Chipre, el Reino Unido y Australia

Not regulated

Year founded

2007

2014

Founder

Yoni Assia

Tristan D’Agosta

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

eToro	FEATURES	Poloniex
eToro offers a low minimum trade amount, making it accessible for beginners yet slightly higher than some competitors.	Minimum Trade	Poloniex allows for relatively small minimum trade amounts, which is ideal for new traders looking to experiment with minimal investment.
Fees are higher due to spread pricing; beneficial for less frequent, larger trades.	Trading and Transaction Fees	Known for competitive, low trading fees, Poloniex is an excellent choice for cost-effective trading.
Offers a moderate range of popular cryptocurrencies but lacks some of the lesser-known altcoins.	Number of Cryptocurrencies	Offers a broad range of cryptocurrencies, although not as extensive as some larger exchanges.
A decent variety of trading pairs available, though not as extensive as larger exchanges.	Crypto-to-Crypto Trading Pairs	Provides a wide variety of trading pairs, allowing for versatile trading strategies but could expand to include more rare or emerging tokens.
eToro provides clear information on fees and features but could improve in showing all terms upfront.	Website Transparency	While Poloniex provides essential information, there could be more detailed disclosures about security practices and fund storage.
eToro does not provide an exchange card for in-store purchases and associated benefits based on the available data.	Credit/Debit Card	Poloniex does not offer an exchange card for in-store purchases.
Provides a secure digital wallet app but less control compared to dedicated wallet services.	Storage Offering	Offers secure storage options, but lacks some advanced features like insured custodial services.
Offers staking for some cryptocurrencies with rewards, but the options and rates are limited.	Staking and Rewards	Offers some staking options, but the rewards and variety are not as competitive as other leading exchanges.
Both mobile and desktop platforms are user-friendly and highly functional.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and reliable, though some users may find them less feature-rich compared to those of top competitors.
Good customer support with multiple channels available, though response times can vary.	Customer Service	Customer service is available, but response times and the quality of support have room for improvement.
Easy deposit and withdrawal processes, but some users may find the withdrawal fee structure cumbersome.	Deposit and Withdraw	Deposits and withdrawals are handled efficiently, though primarily limited to cryptocurrencies which might limit accessibility for some users.

Key features

Analysis tools

Social trading, advanced charting tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

Additional features

Social trading, copy trading, staking, eToro Club rewards

Margin trading, staking, Poloniex Earn, Poloniex API

Anonymity

Yes

Key points

Available cryptocurrencies

30+ (focus on popular assets)

100+

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.

Poloniex provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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.

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

United States, United Kingdom, Europe, Australia, Canada

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

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

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, BTC

USD, USDT, BTC

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.

Poloniex offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has faced some security and regulatory challenges in the past.

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 .

Poloniex provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

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.

Poloniex provides a seamless account opening process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed 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.

Poloniex provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

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

Poloniex offers robust security features, including 2FA and cold storage. However, it is not regulated by major 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 a seasoned expert on our website and an enthusiastic follower of cryptocurrency trends, I’ve consistently found Poloniex to be a solid choice for those venturing into the world of crypto trading. Its user-friendly interface and competitive trading fees make it especially appealing to newcomers and experienced traders alike. Whether you’re looking to dip your toes into crypto or expand your trading portfolio, Poloniex offers a reliable and efficient platform to meet your needs. I highly recommend giving it a try for a straightforward and cost-effective trading experience.

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Read poloniex review

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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.