PrimeXBT Vs. eToro: Copy Trading And Platform Comparison
Both PrimeXBT and eToro are two top trading platforms that offer copy trading as a key competitive advantage. Plenty of other outlets have compared these experiences against one another, but few take the time to compare the rest of the platform features, list of assets, and more.
In this in-depth head-to-head comparison between PrimeXBT and eToro, we are looking at the copy trading experience and beyond to get a better read on which platform reigns supreme.
Why Compare PrimeXBT And eToro?
The answer is simple: comparing apples to apples is always easier than comparing apples to oranges. Putting one copy trading platform up against another is a straightforward and simple comparison. Digging deeper takes real investigative work and knowledge of what traders want to see from a trading platform.
The two platforms each are known for excellence in the trading community, but one must take the crown for copy trading and a complete range of features, products, and services. PrimeXBT is an award-winning margin trading platform with access to more than 100 trading instruments across forex, stock indices, commodities, and crypto. eToro is a mainstream trading platform with access to crypto, stocks, and more.
Without further ado, here is our comparison between PrimeXBT and eToro.
PrimeXBT and eToro provide their users with exposure to a wide range of trading instruments under the same roof, so traders don’t have to jump around to other platforms once they’ve made either platform their home.
eToro offers CFDs on stocks, currencies, commodities, ETFs, and crypto. PrimeXBT provides access to more than 100 different trading instruments across stock indices, forex currencies, commodities, metals, and cryptocurrencies.
Each platform offers a wide range of altcoins along with Bitcoin, Ethereum, and other top trending crypto assets.
Products & Services
Beyond trading, the next thing users look for when choosing between platforms is the available products and services. These sometimes translate to the features that ultimately help a trader make a decision about which platform is their preference.
eToro offers news and analysis, the eToro Academy, and something called the Bull Club. In addition to trading, eToro provides crypto staking on idle digital assets. PrimeXBT also offers such services with Covesting yield accounts, the PrimeXBT Trading Academy, and more.
PrimeXBT takes cryptocurrency-based products and services a step further by integrating the Covesting ecosystem and the native COV utility token to activate account-level benefits and enhancements.
No head-to-head comparison between PrimeXBT and eToro would be complete without touching on the copy trading features – what each platform is best known for.
PrimeXBT prominently features the Covesting copy trading module as part of its competitive advantages. With Covesting, strategy managers have performance tracked in a fully transparent global leaderboard system. At the same time, followers get to use this information to find who to follow and copy their trades automatically. Anyone can join at any time and become a strategy manager or a follower –– the system filters out less successful traders.
eToro’s version of a copy trading community is more like a popularity contest, with the program literally being named the Popular Investor Program. Traders must apply rather than simply signing up, and eToro controls who is allowed to play in their sandbox. Content feeds look more like social media timelines and clutter what is most important: getting a good read on ROI.
Both trading platforms offer a free mobile application to users on Android and iOS devices, which can be used to access positions while on the go and includes light copy trading features.
eToro offers investment insurance in case of insolvency, an issue that’s been plaguing the crypto industry in recent months as prices plummet.
PrimeXBT instead offers a service called Contests, where traders battle it out in weekly competitions for a chance to win free capital through crypto prize rewards. Even more interesting is the fact that users compete with risk-free virtual funds so that there is no downside and competing becomes more fun. This also allows users to backtest trading strategies or practice without the risk of loss.
It is clear to see why these two top trading platforms make for an exciting head-to-head comparison. Both offer top-notch experiences from start to finish.
The edge clearly goes to PrimeXBT in this case, with plenty of added features beyond what eToro offers. PrimeXBT also exceeded eToro’s offering both in terms of accessibility and profitability, making it the clear winner of this latest comparison, looking past copy trading alone.