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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
eToro vs justTRADE in comparison
Overview
- Real crypto in most US states through eToro USA LLC, and in New York through eToro NY LLC with a BitLicense
- One app for crypto, commission-free US stocks and ETFs, options and CopyTrader
- $100,000 demo portfolio with live market data
- No custody fee and no cash withdrawal fee for eToro USA customers; eToro says it no longer charges an inactivity fee
- Parent listed on Nasdaq; licenses from CySEC, the FCA and ASIC; US registrations with FinCEN and the SEC
- 1% per crypto buy and sell, against 0.80% taker at the entry tier of Kraken Pro
- Only 114 crypto assets for US clients, 39 in New York
- Moving crypto out costs 2% into the eToro crypto wallet (up to $100), and only 30 assets on the US list can be moved
- No leverage or short selling on crypto in the US; elsewhere both are CFDs, where 51% of retail investor accounts lose money
- No proof-of-reserves report that we could find
- 73 crypto assets as real coins, held in custody in Germany
- Crypto at a 0.125% commission plus spread, with the minimum spread published
- Free custody and free euro transfers to and from your reference account
- Stocks, ETFs, certificates and crypto in one account supervised by BaFin
- Flexible staking for ETH, SOL and ADA
- No crypto transfers to or from your own wallet
- Quote orders only for crypto, no limit orders
- Only for German citizens with tax residence in Germany
- A spread of at least 0.175% on top of the commission
- No proof of reserves that we could find
Features Comparison
- Cryptocurrencies
- Stocks
- ETFs
- Commodities
- Foreign exchange
- Indices
- CFD trading
- Cryptocurrencies
- Stocks
- ETFs
- Certificates
- Leverage products
1
%
1.00%
1.00%
Varies
0.125
%
0.125%
0.125%
Not possible
150
+
$
50
73
+
$
25
Exchange Rating
Functions
- Social Feed
- Copy-Trading
- Deposit with Paypal
- Flexible staking for ETH, SOL and ADA
- Crypto ETPs next to 73 crypto assets
- Savings plans from €25 a month
Company Details
Our Review
eToro is a multi-asset broker that sells real crypto through eToro USA LLC in most US states, and its US fee schedule lists a 1% commission per buy and per sell. In our view it suits investors who want crypto next to stocks and CopyTrader in one app better than it suits active traders. Outside the US, leveraged and short crypto positions are CFDs.
In our view, justTRADE is a low-cost broker for German investors who want crypto next to stocks and ETFs: 73 crypto assets at a 0.125% commission plus spread, free custody and supervision by BaFin. In our view, its limits are on the crypto side, where the offer is narrower than on the securities side and staking covers three coins.
Social Trading vs German Neo-Broker
eToro differentiates with social trading features. justTRADE differentiates with no custody fees in Germany. Innovation vs cost efficiency.
Platform Approach
eToro: Social trading, copy features, global reach.
justTRADE: No custody or order fees, German-focused.
Crypto Options
eToro offers over 150 cryptocurrencies. justTRADE offers 73 (no withdrawals).
Fees
justTRADE charges a 0.125% order commission plus a spread of at least 0.175%. eToro charges 1%. justTRADE is cheaper.
The Decision
eToro at 8.8 suits users wanting social trading features globally.
justTRADE at 8.0 suits German investors wanting low-cost trading.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
