eToro vs Robinhood – Which is Best?

eToro and Robinhood are two of the most popular mobile brokerage apps available today. Both platforms offer commission-free trading on stocks and ETFs as well as cryptocurrency trading. In addition, both eToro and Robinhood are renowned for their user-friendly platforms.

In this guide, we’ll compare eToro vs Robinhood to help you decide which brokerage platform is right for you.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

What are eToro & Robinhood?

eToro and Robinhood are both multi-asset brokerage platforms that offer trading on stocks, ETFs, cryptocurrencies, and more.

eToro was founded in Israel in 2007. The brokerage now operates in hundreds of countries around the world and has more than 25 million users. eToro offers commission-free trading on stocks and ETFs as well as trading on cryptocurrencies, commodities, forex, and bonds.

eToro differentiates itself in several important ways. First, the platform offers trading on a wider range of assets than most of its peers. It’s one of the only true crypto exchanges that also offers stocks and forex trading. In addition, eToro has a built-in social trading network where you can connect with other traders. Copy trading makes it easy to mimic the moves of experienced traders or copy a diversified portfolio of stocks and crypto in seconds.

Robinhood was one of the first commission-free and mobile-only brokerage apps when it launched in the US in 2013. The brokerage has grown to more than 20 million users in the US alone. Robinhood offers trading on stocks, ETFs, options, and cryptocurrencies.

Robinhood is relatively limited in features compared to other brokerage platforms. You’ll find only minimal tools for charting or analysis. A trending stocks feed helps you discover hot stocks that other Robinhood traders are interested in. Robinhood is very simple and beginner-friendly, but it can be limiting for anyone who wants to research their investments.

Tradable Assets on eToro & Robinhood

Before you open an account with any broker, it’s important to assess what tradable assets are supported and whether you can build a diversified portfolio that meets your investment goals.

Cryptocurrencies

eToro is one of the leading cryptocurrency exchanges in the US today, currently offering 59 popular cryptocurrencies.

You can trade Bitcoin and Ethereum, the best meme coins like Dogecoin and Shiba Inu, and DeFi coins like Compound and Aave. eToro is also one of the only US exchanges currently allowing users to buy XRP with a minimum investment of just $10.

Importantly, you can send cryptocurrencies you purchase on eToro to an external crypto wallet. eToro offers its own wallet, the eToro Money app, but you are free to use any third-party wallet. The eToro Money app supports swapping between 500 crypto-crypto pairs, making it one of the best altcoin exchange platforms.

Robinhood offers trading on 11 cryptocurrencies such as Bitcoin, Bitcoin SV, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and Dogecoin to name a few. You cannot transfer cryptocurrencies out of your account to a crypto wallet.

You cannot buy NFTs on eToro or Robinhood at this time. However, eToro has an NFT gallery, etoro.art, where you can browse NFTs and submit your own art for display. So those NFT-hungry investors looking for the best new NFT projects in 2022 keep an eye on etoro.art for all the latest NFTs.

Stocks

Ever wondered how to buy stocks on eToro? eToro offers trading on more than 2,500 stocks from the NYSE and NASDAQ as well as exchanges in Europe, Asia, Africa, and Australia. The platform does not charge fees or commissions for trading international stocks. With that said, eToro let’s you gain exposure to everything from the best oil stocks to the best dividend stocks.

Robinhood offers trading on more than 5,000 stocks from the NYSE and NASDAQ exchanges. The platform offers hundreds of international stocks through ADRs (American Depository Receipts), but you cannot buy stocks directly on international exchanges.

Neither eToro nor Robinhood offers OTC trading on penny stocks.

ETFs

eToro and Robinhood each offer hundreds of ETFs, including most funds traded on the NYSE and NASDAQ stock exchanges.

At eToro, you’ll find around 264 ETFs from firms like SPDR, Vanguard, Invesco, ProShares, and ARK. Robinhood offers funds from SPDR, Vanguard, Invesco, ProShares, ARK, Roundshares, iShares, and Global X.

Options

Robinhood offers commission-free options trading on most stocks available to trade through this platform. You can trade both single-leg and multi-leg options strategies. However, Robinhood does not offer tools for evaluating options strategies or determining the potential risk and reward of an options trade.

eToro does not offer options trading at this time.

Bonds

eToro supports trading on government bonds. Available bonds include short- and long-dated US treasuries and treasuries from the UK and European governments. The platform has corporate bond ETFs, but does not offer trading on individual corporate bonds.

Robinhood does not offer bond trading. However, you can invest in bonds through ETFs on Robinhood.

Forex

eToro offers forex trading through CFDs (contracts for difference). You can trade 49 major, exotic and minor forex pairs with leverage up to 30:1.

Robinhood does not offer forex trading.

Commodities

eToro offers commodities trading through CFDs. You can trade gold, silver, oil, natural gas, agricultural products, and more. Leverage is available up to 20:1 for gold trading and 10:1 for all other commodities.

Robinhood does not offer commodities trading.

Account Types

eToro offers a single brokerage account for all traders. The brokerage does not offer retirement accounts or require a premium subscription to access any features.

Robinhood gives you access to three trading accounts each crafted to meet the demands and needs of its users. These accounts include, Robinhood Instant, Robinood Gold, and Robinhood Cash. For more details you can refer to the official Robinhood accounts page that gives an overview of the different features that each account offers.

With Robinhood Gold, you get access to stock research reports from Morningstar, Level II market data, and access to margin trading at a 3% interest rate. Robinhood Gold costs $5 per month.

eToro Fees vs Robinhood Fees

eToro and Robinhood are both known for offering exceptionally low trading fees. At eToro, stock and ETF trading is commission-free. Cryptocurrency trades carry a transaction fee of 1% as well as the bid-ask spread when you buy and sell.

Robinhood doesn’t charge commissions for trading stocks, ETFs, options, or cryptocurrencies.

Here’s how eToro fees vs Robinhood fees stack up:

Cryptoassets are a highly volatile unregulated investment product.

eToro and Robinhood both keep account fees to a minimum. Neither platform charges deposit fees and there are no monthly account fees unless you subscribe to Robinhood Gold ($5 per month). eToro charges a $5 withdrawal fee and a 0.5% fee when transferring crypto from your trading account to a crypto wallet (maximum $50 per transfer).

eToro vs Robinhood User Experience

eToro and Robinhood both offer excellent user experiences. The platforms are beginner-friendly, and eToro in particular does a good job of meeting the needs of advanced traders and investors at the same time.

Both brokerages offer web and mobile platforms. Robinhood was mobile-only for many years, but all of the functionality of the mobile apps is now available in the web platform.

eToro offers investors a streamlined dashboard that gives you an overview of your holdings and makes it easy to discover new assets. You can browse by asset class and see at a glance what assets are performing best and worst during the current trading day. eToro also supports custom watchlists and portfolios, helping you keep your trade ideas organized.

We particularly like eToro’s cryptocurrency overview. The platform displays miniature line charts of the 7-day performance of each crypto, making it easy to spot coins that are ripe for trading. In addition, eToro offers a simple buy/sell/hold rating next to each cryptocurrency based on automated analysis of 8 common technical indicators.

There aren’t many features or tools available in the Robinhood app, so it’s extremely simple to navigate.

Robinhood’s dashboard shows your portfolio’s performance front and center. You can quickly scroll to see the return of each of your holdings and tap on any of them for more details. A search page lets you look for individual stocks, but it’s also where you’ll find the Robinhood news feed and lists of trending stocks.

eToro & Robinhood Mobile Apps

eToro and Robinhood both offer mobile trading apps for iOS and Android. All of the features available on the web are available on the mobile apps for each brokerage, and both platforms’ mobile apps are easy to navigate.

Notably, the eToro crypto app gives you access to all of eToro’s technical charting features and research. This is a major plus for self-directed investors because it means you can research stocks and cryptocurrencies on the go. The Robinhood app also offers basic candlestick charts, but doesn’t support technical indicators.

Trading Tools & Features on eToro & Robinhood

When it comes to trading features, our Robinhood vs eToro comparison found that eToro has a lot more to offer than Robinhood. eToro is a fully-featured trading platform with technical charting, research, and unique tools like copy trading. Robinhood is primarily a commission-free brokerage app with very few advanced tools.

Technical Charting

eToro offers in-depth technical charts to help you analyze all of the assets available on the platform. Available chart types include bar, line, candlestick, and Heikin-Ashi charts. Price intervals available for charting extend from 1 minute to 1 week.

You can add dozens of popular technical studies to your charts, including moving averages, MACD, RSI, Bollinger Bands, and more. The platform also lets you compare two symbols on the same chart simultaneously.

Robinhood offers only line and candlestick charts. You cannot add any technical studies to your charts, including basic moving averages. Price intervals for charting extend from 1 day to 5 years.

Cryptoassets are a highly volatile unregulated investment product.

Research

eToro offers in-depth research, particularly for stocks and cryptocurrencies. For most assets, you can see a breakdown of key information like market cap, historical performance, and fundamental metrics.

For stocks, eToro highlights 12-month price targets from Wall Street analysts and offers a visualization of buy, sell, and hold ratings. For cryptocurrencies, eToro auto-analyzes 8 technical indicators and delivers a buy, sell, or hold rating for each indicator.

The only way to get market research through Robinhood is to sign up for Robinhood Gold. This gives you access to research reports from Morningstar, which you can also get through a separate subscription to Morningstar.

Trader Sentiment

eToro offers a trader sentiment score for every asset on its platform. This score tells you what percentage of traders are buying a particular stock or cryptocurrency versus what percentage are selling. This can be handy for quickly identifying hot stocks and riding momentum.

Robinhood offers lists of trending stocks, including a list of the 100 most popular stocks on Robinhood at any given time. This information isn’t quite as actionable for active trading as eToro’s sentiment scores, but it can point you in the direction of stocks worth adding to your portfolio.

Social and Copy Trading

One of the most unique aspects of eToro is that the brokerage platform has its own built-in social network. You can follow other traders and comment on their trades. The platform also lets you comment on any asset, essentially creating discussion boards where investors can share ideas and debate the merits of a particular company or cryptocurrency.

eToro also offers copy trading. With copy trading, you can commit a portion of the funds in your portfolio to mimic the moves of an experienced trader on eToro. Some copy portfolios are built around active trading, while others are meant to be long-term investment portfolios that you can invest in similar to ETFs. There are no fees for copy trading and you can easily see the historical performance of all traders who are offering portfolios to copy.

Demo Accounts

A demo account, also known as a paper trading account, gives you a chance to try out new trading strategies safely without risking real money.

eToro offers a demo trading account with $100,000 in paper money, which you can use to trade on your own or to test out copy trading. You can reset the demo account at any time.

Robinhood does not offer a demo account.

eToro vs Robinhood Payments & Minimum Deposit

eToro supports a much wider range of deposit methods than Robinhood. At eToro, you can fund your account with a credit or debit card (Visa or Mastercard), PayPal, Neteller, Skrill, or a bank transfer. At Robinhood, you must use a bank transfer to fund your account.

Card and e-wallet payments at eToro are processed instantly, while bank transfers take 2-3 days. At Robinhood, bank transfers take up to 3 days, but you can access up to $1,000 of your deposit instantly for trading.

eToro requires a minimum deposit of $10, or $500 if you are making a deposit by bank transfer. Robinhood does not require a minimum deposit to open an account.

Cryptoassets are a highly volatile unregulated investment product.

Customer Service

eToro offers customer support by email. You can get in touch by submitting a question through the online ticketing system. In addition, eToro has a detailed online knowledgebase where you can find information about account opening, fees, and trading tools.
Robinhood offers 24/7 phone support. You can request a callback in the mobile app or online and a representative will get in touch within a few minutes in most cases. Robinhood also has an online support center where you can find answers about how to set up your account and manage deposits.

eToro vs Robinhood Regulation & Security

eToro and Robinhood are both trusted brokerage platforms that follow stringent financial regulations.

Is eToro safe? eToro is regulated by the UK’s Financial Conduct Authority, the Cyprus Securities and Exchange Commission, and the Australian Securities and Investments Commission. The brokerage follows all SEC and FINRA regulations for stock trading in the US. All US client funds are held in US depository accounts and cash deposits are protected by FDIC insurance up to $250,000. eToro supports 2-factor authentication and all data on the platform is encrypted.

Robinhood is regulated by the US Securities and Exchange Commission and is a member of FINRA. The brokerage also holds licenses from 27 states for cryptocurrency trading. Cash deposits are insured by the FDIC and securities are insured by the SIPC. Robinhood uses encryption to protect client data and supports 2-factor authentication.

eToro vs Robinhood – The Verdict

Our eToro vs Robinhood comparison found that both platforms offer commission-free trading on stocks and ETFs as well as cryptocurrency trading. However, eToro goes much farther than Robinhood when it comes to what cryptocurrencies you can buy and what tools are available to help you research investments.

eToro offers trading on 59 cryptocurrencies, plus in-depth technical charts, advanced market research, and a built-in social trading network. You can trade crypto with low fees and tight spreads.

For most investors choosing between eToro or Robinhood, eToro simply has more to offer. Sign up for eToro today to start investing in stocks, ETFs, crypto, and more!

Cryptoassets are a highly volatile unregulated investment product. 

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