eToro has been one of the most popular social trading platforms that have excellent features, supports 16 cryptocurrencies, and provides leverage trading. However, not everyone has the same taste. Hence, here’s a brief on some of the best eToro alternatives:
| PrimeXBT | Coinmatics | Tradelize | ZuluTrade | BingX | |
| Ease of Navigation | Easy | Easy | Difficult | Easy | Moderate |
| Leverage Trading | 100x | User-Defined | 100x | Up to 500x | Up to 150x |
| Supported Cryptos | 17 | Integration based | Integration based | 13 | 30 pairs |
| Fees | 1% for Copy trade | Max $20 plan | Max $399 plan | Max 20% profit sharing | 8% profit sharing |
1st Best eToro Alternative: BingX
BingX is also a crypto social trading platform earlier known as Bingbon. The website claims 1500 plus active traders and 1 million users worldwide. It also claims a presence in more than 100 regions.
However, please do make sure to do background research about the trader you’d be copying. As there are many copy traders who go gain decent returns and then go rekt in a few trades.
- Ease of Navigation: The website is easy to moderate when navigating. It has a featured list of top traders on a front carousel.
- Leverage Trading: The Bitcoin USD leverage is at 150x, and 100x for Ethereum USD. Other cryptocurrencies are traded with 30x-50x leverage.
- Supported Cryptocurrencies: There are more than 30 trading pairs available.
- Fees: The fee for copy trade is at 8% profit sharing. Moreover, it has a complex fee structure and can be accessed by clicking here. It has different fees for currency exchange, withdrawal, and trade.
To know more read our BingX Review.
Also read, Bingx Copy Trading: How to Get Started?
2nd Best eToro Alternative: Coinmatics
Coinmatics is yet another trading platform providing social trading. However, they have added a new feature to it. Here, you can invest as well as trade. The top (header) menu bar provides straightforward navigation. A user also can look at their pricing and fees from the menu.
- Ease of Navigation: As noted above, the navigation is probably the best among the five. The website has a lovely dual-tone green and white colour and many graphics or navigation links. A simple site like this provides easy access to new traders.
- Leveraged Trading: The leveraged trading limits can be set by the user.
- Supported Cryptocurrencies: Coinmatics is integrated with popular platforms like Binance, BYBIT, FTX, and OKEX. These integrations offer the user a far greater variety of cryptocurrencies to trade.
- Fees: Coinmatics works on a subscription and referral basis. There are three tiers available: the Free, Premium Ref, and Premium. The Premium Ref(referral) is for the invite-only, whereas the Premium cost about the US $20 per month.
To know more read our Coinmatics Review.
Also read, Best Crypto Trading Signals in India
3rd Best eToro Alternative: Tradelize
Tradelize is a social trading platform that claims itself as a global ecosystem for crypto trading and investing. The social trading feature is called “Earn with Professional.” It also has a unique Reverse Copy Trade feature, letting you trade against the trend.
- Ease of Navigation: We feel that the navigation could be better. The social trading feature seems hidden in the Solutions menu. In addition, the menu itself looks intimidating with information overload. New traders, especially those new to cryptocurrency, could face difficulty finding the social trading feature.
- Leverage Trading: Tradelize provides 100x leverage trading.
- Supported Cryptocurrencies: Like coinmatics, tradeline has integrations with several other crypto exchanges. This lets you use Tradelize with other crypto exchanges without registering multiple accounts.
- Fees: Tradelize has a subscription method where the free version has some limited features, and the paid version is priced at the US $399 per month.
Also read, Best Paid And FREE Crypto Trading Bots
4th Best eToro Alternative: ZuluTrade
ZuluTrade is a Greek financial company that prominently features its copy trading service. A unique feature of this website is its Demo Account, which lets users access its platform before registering for an existing account.
- Ease of Navigation: The website is probably the easiest for navigating. The copy trading feature is available in the investing tab. In addition, there is a learn tab for those who are new. Overall, the website has been designed keeping in mind the needs of a new trader.
- Leverage Trading: ZuluTrade offers the highest leverage in our list with up to 500x for Bitcoin and USD pair.
- Supported Cryptocurrencies: It supports 13 cryptocurrency pairs with the US Dollar and other cryptocurrencies.
- Fees: The fees vary as per your trade.
Also read, 17 Best Cryptocurrency Podcasts to Listen on the Go!
5th Best eToro Alternative: PrimeXBT
PrimeXBT Investing has been a known player in cryptocurrency markets. It’s a social trading feature called” “Covesting” ” which lets you copy the trading activity of the best traders.
- Ease of Navigation: The website is easy to navigate. The Copy-trading feature is located in the Trading Tools menu. However, we believe locating it on the header menu would be better. Moreover, the names are different on the menu and on the Copy-trading page, namely “Copy Trading” and “Covesting.” These changed names often confuse the new traders for whom the feature is intended.
- Leveraged Trading: The platform provides 100x leveraged trading. You can trade by depositing only 1% of your trading funds.
- Supported Cryptocurrencies: The platform supports 17 cryptocurrencies, one more than eToro.
- Fees: The trading fees vary significantly with each trading pair and trading feature. For usual trading, the fee is 0.001%, whereas, for copy trading, it is 1% (follower fee).
Also read, eToro vs PrimeXBT vs Capital.com vs AvaTrade
Conclusion
Social Trading has taken the crypto world to new heights. It has given a chance to those who only dreamt of trading in crypto. eToro has been a central copy-trading platform. But even the best of platforms cannot satisfy all users. People need platforms suitable for their trading, and Prime XBT, Coinmatics, Tradelize, Zulu Trade, and BingX are such platforms. These can address the varied needs of new and old traders trying to get into copy-trading.
Frequently Asked Questions
Which trading platform among the above has the highest leveraging?
Zulu Trade provides 500x leverage for the Bitcoin-USD pair.
Which platform should I choose as a beginner?
Coinmatics having the best navigation and a straightforward plan structure is best for beginners. Moreover, the premium feature costs much lower than the rest.
Which plan should I choose if I am new to Coinmatics?
New traders always suggest choosing a free plan and gathering sufficient experience before spending money on trading plans.
What is profit sharing in BingX?
In copy-trading, you copy the traders and just need to give the funds. When your traded value returns a profit, the expert trader needs to be paid just 8% of your profits and not total traded value.
What is Covesting in Prime XBT? Is it the same as copy-trading?
Both are different names for the same feature. Covesting stands for co-investing and is the brand name for the copy-trading feature.
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