eToro vs Coinbase

eToro Vs Coinbase: Which Is Better?

Thinking of comparing eToro vs Coinbase? Although these two brands have different target clients, with eToro catering to investors of various markets (forex, stocks, crypto, etc.) and Coinbase offering crypto trading services, there are some similarities that are worth comparing so you can decide better.

Table of Contents

  1. Comparison
    Compare the features (28sec)
  2. Account Types
    What accounts are offered? (45sec)
  3. Demo Account
    Are practice accounts provided? (47sec)
  4. Registration
    How easy is it to sign-up? (38sec)
  5. Minimum Deposit
    How much is the first deposit? (37sec)
  6. Platforms
    What apps or platforms are available? (44sec)
  1. Assets
    How many tradable assets are there? (39sec)
  2. Deposit
    What payment methods are accepted? (48sec)
  3. Customer Service
    How can support be contacted? (45sec)
  4. Regulation
    Are these brokers regulated? (43sec)
  5. Conclusion
    So which one is better? (28sec)


Wondering if you can test out eToro’s platform?

The good news is that yes, you can! You can use their free demo account to explore the user interface and do test trades in virtual mode. Keep in mind that you still need to open an account in order to use the virtual portfolio. Clicking on the button below will take you straight to their online sign-up form so you can open an account in no time.


YES, TAKE ME TO ETORO!

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Comparison

To give you a better perspective between the features of eToro and Coinbase, here's a table with the side-by-side comparison. All the information used here are based on the most recent data that we have gathered from these brands.

 

Broker eToro Coinbase
Minimum Deposit $50 - $1000 (depends on country) $1
Markets 3000+ 4500+
Market Types Stocks, Commodities, Currencies, Indices, Crypto, ETFs Crypto
Supported Crypto 20+ 4500+
Deposit Methods Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, Bank Transfer, Local Online Banking Bank Account (ACH), Debit Card, Wire Transfer, PayPal
Demo Account Yes (Unlimited) No
Regulation FCA (UK), CySEC (Cyprus), ASIC (Australia) SEC (US)
Customer Support Email, Live Chat Phone, Email, Live Chat
Side-by-side comparison of eToro vs. Coinbase

Account Types

eToro offers retail and professional accounts for their clients. Retail accounts have a tiered membership called the eToro Club which features some exclusive perks and privileges depending not on the on the client’s deposit but rather on the size of equity.

With Coinbase, these are basically the only 2 options but with eToro, there’s an eToro Club which is a tiered membership comes with extra privileges based on the users equity size and not the deposit:

  • Silver
  • Gold
  • Platinum
  • Platinum​+
  • Diamond

Take note that the eToro Club is only available for accounts under specific regulators and platform languages.

Coinbase on the other hand doesn’t have different account types but rather cryptocurrency exchange types: Coinbase and Coinbase Pro

Both of these services will allow you to use fiat money for trading cryptocurrencies. The Coinbase service is ideal for beginners due to its simplified interface while the Coinbase Pro is more ideal for experienced users as it has more advanced features.

Demo Account

Demo accounts are usually offered by brokerage firms so that their clients can take a look at the platform without the need to use their own capital. The good news is that eToro is one of them and this feature can be used any time.

eToro web-based platform in Virtual Portfolio mode
eToro web-based platform in Virtual Portfolio mode

Unfortunately, Coinbase doesn’t have a demo account since it is a digital exchange and not an online investment platform. What they do have though are basic guides which users can read so they can learn how to use their platform.

In case you want to check out eToro’s demo account, you can do so via the button below but in order to utilize their virtual portfolio, you’ll need to open an account first but don’t’ worry, you won’t be required to make a deposit if you’re not ready yet. Should you decide to do live trading, you can easily fund your account and use this capital to start investing!


GO EXPLORE THE DEMO!

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Registration

Sign-up for an account with eToro will require only your desired username and password, and an email address in order for you to initially register. Keep in mind that you will still be required to complete your profile and verify it although this can be done later on if you wish to. This procedure is required by regulators from their licensees so eToro complies with such requirements.

The same thing applies for Coinbase clients. Initially, you’ll be asked to provide your first name, last name, email address and password but after that, you will also be asked to verify my identity and this may happen occasionally for the purpose of fraud prevention.

 

Broker eToro Coinbase
Registration requirements Username, Email Address, Password First Name, Last Name, Email Address, Password
eToro vs. Coinbase initial registration requirements

Minimum Deposit

In order to trade with eToro, you will need to fund your account and the accepted minimum amount that you can deposit will be based on your country of residence. For example, if you’re a US resident then you can deposit a minimum of $50 into your account but if you’re a resident of the UK, you’ll need to deposit a minimum of $200 initially or its equivalent value in British Pounds. In general, the minimum deposit may range from $50 to $1000 with this broker.

Since Coinbase is a digital exchange, technically there are no minimum deposit requirements so you can add as low as $1 into your account.

 

Broker eToro Coinbase
Minimum Deposit $50 - $1000 (depends on country of residence) $1
eToro and Coinbase minimum deposit comparison

Platforms

You can trade with eToro via any of their 2 platforms. First option is via the web-based version which can be opened with almost any web browser such as Google Chrome, Mozilla Firefox, Microsoft Edge or Apple Safari from your PC, laptop, tablet or smartphone. There’s no need to download or install anything.

Another option by installing their mobile app which is available for smartphones or tablets that are running on iOS or Android. Keep in mind that you can only get these apps directly from the app store of your operating system.

Coinbase users also have the same option for accessing their accounts. Users can go to www.coinbase.com by accessing it on any web browser, log in with their credentials and start trading crypto from there. They can also download and install the mobile app that is compatible with iOS and Android-powered devices.

Coinbase web-based platform
Coinbase web-based platform
Broker eToro Coinbase
Web-based
Android
iOS
Windows
Mac
Platforms offered by eToro and Coinbase

Assets

Look:
When it comes to trading, diversifying is one recommended way to lessen the risks so if there are more markets to explore, there are more investment opportunities.

Both eToro and Coinbase have a number of investment options with former having over 3000 instruments and the latter having more than 4500 cryptocurrencies.

Comparison of eToro and Coinbase's tradable assets
Comparison of eToro and Coinbase's tradable assets

The difference however lies in the type of markets that they offer. Since eToro is an online brokerage firm, it gives its clients access a diverse range of markets including stocks, commodities, currencies, indices, crypto and ETFs. Coinbase is a crypto exchange so it only provides cryptocurrency trading services only.

Nevertheless, the sheer number of investment options that are offered by these two brands are worth mentioning. It really depends on your risk appetite and market preferences.

Deposit

Being able to fund your account using a variety of payment methods is always more convenient than only having just a few or limited options.

Some users tend to overlook this feature but it’s actually one that must be taken into consideration especially in cases wherein your first payment option is unavailable or not working. Knowing that you have other ways to add money into your account will certainly give you peace of mind.

eToro users have the choice of making a deposit into their accounts via credit/debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, bank transfer and local online banking. Although these options are a lot, keep in mind that certain payment gateways may not be available for residents of specific countries. Some may also be unsupported due to regulation.

For Coinbase users, there are also different supported payment gateways although these are a bit limited as compared to eToro. They accept using bank accounts (ACH), debit card, wire transfer and PayPal.

Customer Service

Getting in touch with the eToro customer service department can be done via email and live chat. The only minor downside is that there’s no phone support but this is considered as a non-issue as going online is the more convenient method of communication.

The good news is that eToro has added some other ways for their clients to get assistance. This includes submitting an online ticket or utilizing their comprehensive Help Center that has tons of information and resources regarding their service.

If you’re a client of Coinbase, you have the choice of contacting their customer service department via phone, email or live chat. The phone support though can only be used for the purpose of quickly disabling an compromised account and not for talking with a live agent. Submitting an email request or using the live chat are the only ways to get in touch with a support representative.

Regulation

It's important to remember: Whatever service you choose, especially if it involves money, it would be best to sign-up with a brand that has a license from a trusted and known authority.

For that matter, eToro is a regulated brokerage firm and currently has licenses from the following financial regulators:

  • Cyprus Securities & Exchange Commission (CySEC) – eToro (Europe) Ltd. is licensed with company registration # HE058.
  • Financial Conduct Authority (FCA) – eToro (UK) Ltd. is authorised and regulated with company registration # 7973792.
  • Australian Securities and Investments Commission (ASIC) – eToro AUS Capital Pty Ltd. is the holder of an Australian Financial Services Licence (AFSL) 491139 issued by this regulator.

The good news is that Coinbase is regulated by the Security and Exchange Commission in the US and is also a licensed brand from various states:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Michigan
  • Minnesota
  • Mississippi
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Vermont
  • Virginia
  • Washington
  • West Virginia

 

Conclusion

Both eToro and Coinbase have notable features that are worth mentioning especially if you’re into crypto trading. But what makes eToro more advantageous over its competition is that it has more cryptocurrency trading solutions: a trading platform which provides an easier way for buying crypto, an advanced cryptocurrency exchange, and a crypto wallet service for storing these tokens. Coinbase on the other hand supports more digital coins since it is a dedicated crypto exchange.

If you’re interested into trading cryptoassets then Coinbase is the better choice but if you want to explore other markets aside from crypto then it would be wise to have an account with eToro as its platform provides access to a diversity of products and instruments.


Have you decided to trade with eToro?

If you’re interested to explore eToro’s online investment services then you can quickly get started by clicking the button below. This will open their registration page so you can have an active online trading account and start investing!

YES, TAKE ME TO ETORO!


eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.