Comparison of eToro vs Swyftx [ 2024 ]

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

Your expert: Alejandro Borja

eToro

Your expert: Xavier Tarrasó

Swyftx

Main points

Fees

Fee:

Earns

Yes

Customer service

4/5

≈ 0,06%

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 strong local support in Australia and New Zealand.

Level

Fee:

≈ 0,06%

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.

Swyftx charges a competitive trading commission which is built into the spreads, typically around 0.6%, making it quite transparent and straightforward. The platform does not charge any deposit or withdrawal fees for AUD transactions, which is a notable advantage for local users. Additionally, Swyftx keeps its fee structure uncomplicated with no hidden charges, allowing traders to easily understand what they will pay when executing trades on the platform.

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.

Swyftx

Year Founded: Since its establishment in 2018, Swyftx has quickly grown to become a key player in the Australian cryptocurrency market. This rapid growth and sustained presence highlight its stability and enduring appeal to users.
Number of Users: Swyftx boasts a large user base, which is a testament to its popularity and trustworthiness. A significant number of users also suggests a high level of satisfaction and reliability.
Security Methods: Swyftx employs robust security measures including two-factor authentication (2FA), biometric logins, and custom withdrawal whitelist settings. These features ensure that users' funds and data are protected against unauthorized access.
Trading Volume and Liquidity: The exchange has a high trading volume and liquidity which ensures that users can buy and sell their assets easily without a significant impact on the prices, which is crucial for both new and experienced traders.
Reputation and Reviews: Swyftx has garnered positive reviews for its user-friendly interface, responsive customer service, and transparent fee structure. Its reputation within the Australian market is strong, with many users recommending it for both beginners 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

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

eToro Group Ltd.

Swyftx Pty Ltd.

Regulation

Regulated in Chipre, el Reino Unido y Australia

Regulated in Australia

Year founded

2007

2017

Founder

Yoni Assia

Alex Harper

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

eToro	FEATURES	Swyftx
eToro offers a low minimum trade amount, making it accessible for beginners yet slightly higher than some competitors.	Minimum Trade	Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
Fees are higher due to spread pricing; beneficial for less frequent, larger trades.	Trading and Transaction Fees	The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
Offers a moderate range of popular cryptocurrencies but lacks some of the lesser-known altcoins.	Number of Cryptocurrencies	Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
A decent variety of trading pairs available, though not as extensive as larger exchanges.	Crypto-to-Crypto Trading Pairs	Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
eToro provides clear information on fees and features but could improve in showing all terms upfront.	Website Transparency	The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
eToro does not provide an exchange card for in-store purchases and associated benefits based on the available data.	Credit/Debit Card	The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
Provides a secure digital wallet app but less control compared to dedicated wallet services.	Storage Offering	Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
Offers staking for some cryptocurrencies with rewards, but the options and rates are limited.	Staking and Rewards	Offers staking options but with fewer choices and rewards compared to leading competitors.
Both mobile and desktop platforms are user-friendly and highly functional.	Mobile App and Desktop	Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Good customer support with multiple channels available, though response times can vary.	Customer Service	Generally responsive and helpful customer service, but peak times can see slower responses.
Easy deposit and withdrawal processes, but some users may find the withdrawal fee structure cumbersome.	Deposit and Withdraw	Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Social trading, advanced charting tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Social trading, copy trading, staking, eToro Club rewards

Staking, fiat on/off ramps, Swyftx Earn, demo mode

Anonymity

Key points

Available cryptocurrencies

30+ (focus on popular assets)

300+

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.

Swyftx features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

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 strong local support in Australia, making it a good choice for regional users.

Countries of operation

United States, United Kingdom, Europe, Australia, Canada

Australia, New Zealand

Best for

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

Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

USD, BTC

AUD, 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.

Swyftx is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a wide range of cryptocurrencies and competitive fees but lacks some advanced trading features.

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 .

Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, 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.

Swyftx provides an easy and fast account opening process. Users need to provide 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.

Swyftx provides support through email and live chat. The support team is responsive and available 24/7, making it reliable for users in Australia and beyond.

Security

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

Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for 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 cryptocurrency investment analyst, I find Swyftx to be an excellent choice for those new to the crypto market or looking for a user-friendly trading experience. The platform offers a wide range of cryptocurrencies and has a straightforward, easy-to-navigate interface that simplifies trading. While it could improve its offerings for more seasoned traders by adding advanced trading tools, for most users, Swyftx provides a reliable and secure environment to start their cryptocurrency investment journey. If you’re based in Australia, I highly recommend considering Swyftx as your go-to exchange.

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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.