24Option or eToro? One of them has
Update March 26, 2023
Due to recent development and market conditions, we cánido no longer recommend Etoro.
So we suggest that you use IQ Options for small deposits and Libertex for deposits over 100 USD.
Both brokers are 100% stable, these They are fully regulated by international institutions,They have low rates and I have worked with them for more than 5 years
I apologize for recommending Etoro in the past.
I have been investing for more than 10 years; in fact, along with my en línea businesses, this type of method of generating income is one that it has given me better results until now.
But when I was a beginner, all I cared about was learning the best strategies to get the best possible return.
Until one day I started to do the math, and I saw that the broker with which I operated he was taking most of my money in commissions!
That is why now both my followers and my students from The Winning CommunityThe first piece of advice I give you is to focus on choose a good platform to invest rather than which techniques work best.
If you have come this far, it is because you are also an intelligent person, and you are looking for a good broker to trade, but You perro’t escoge whether to do it with 24Option or with eToro.
I have used both for 2 years, and here I am going to tell you the advantages and disadvantages of each one from my personal experience, and which is the winner If you don’t want commissions to take all your money…
24Option or eToro? These are the differences I found
▶ Minimum deposit at 24Option and on eToro
▶ Demo account at 24Option and on eToro
▶ 24Option and eToro commissions
▶ Deposit methods at 24Option and on eToro
▶ Methods to withdraw money at 24Option and on eToro
▶ What assets perro I trade with 24Option and with eToro?
▶ Ease of using the 24Option and eToro platform
▶ 24Option or eToro? My personal experience
minimum deposit on 24Option and on eToro
The minimum deposit at these two brokers is quite different.
In eToro minimum deposit is $200and in 24Option instead it is from only $100so for half the capital, you perro make a deposit at 24Option.
However, there are some exceptions on deposits of these two platforms that you should know.
eToro has a minimum deposit of 200 dollars if you use payment methods such as debit or credit card, PayPal, Skrill or Union Pay.
But if you make your deposit through bank transfer, this amount goes up to 500 dollars, so you will have to put an amount 5 times greater than the minimum deposit of 24Option.
24Option has a minimum deposit of 100 dollars for all Latin American countries.
But if you are in any European country (such as Spain) or in the United States, the minimum deposit you must make is 250 dollars or 250 euros if you do it with a credit or debit card, or through electronic means such as Skrill.
And if you escoge to make your deposit by bank transfer, this amount goes up to $1000 or €1000.
So if you want to start investing with the lowest amount possible, I recommend that you use 24Option if you are in Latin America because your deposit will be only $100, half that in eToro which is $200 or $500 if you do it by bank transfer.
demo account on 24Option and on eToro
Both 24Option and eToro have a demo account. so that you cánido practice with virtual capital before investing your real money, so that you cánido see how their web pages work, what assets you perro trade with, what strategies give you the best results…
I have tried both, and they work very well to check if they are good brokers or not, but each one has some differences that perro make you prefer one platform over the other.
eToro demo account gives you a virtual $100,000 so that you perro do all kinds of operations in it, both manual trading where you choose the asset, the time to close the operation, if you are going to invest upwards or downwards, etcétera., as well as popular trading where you only have than copy the strategies of other traders.
The big problem that I see with this demo account is that until you do an operation, and then you go to the Portfolio section, you will not be able to see what virtual capital is the one you have.
I have tried many other brokers and, when you are in the demo account, if you clic on any section of the page, you are always seeing a box that espectáculos you the virtual money you have, How much of that capital do you have left? and the benefits you are getting.
On the other hand, in eToro this is different and if you do not clic on Portfolio, you won’t be able to see how much is in your account.
And the second big drawback that I see is that you cannot top up your money automatically.
If you make several operations, and the virtual $100,000 that they give you runs out, you have to send a message to the customer service section or start a chat with the support team to say that your cómputo has run out, and that they recharge it.
After that, take up to 48 hours (2 days) in reloading the money in your account, a time that seems too long to me.
The positive point of the eToro demo account is that you will not need to make any deposit to start using it, so you perro register, verify your data, and start practicing with this type of account.
The 24Option demo account It also offers you a virtual $100,000 so that you perro fully test how the page works, the assets in which to invest, which strategies give you the best results…
At 24Option you perro see how much virtual money you have at any time.
It does not matter if you clic on the assets section, on the part to open operations, or even if you want to see your account data: on the top right you perro check how much capital do you have left as you perro see in the image below.
This may seem silly to you, but especially when you start trading, it is much more comfortable to have all the options aparente and available with a single clic, so that you are not wasting time looking for where everything you want to access is.
The second advantage I see of 24Option is that as soon as the money in your demo account runs out, the platform it will recharge your virtual capital automatically.
Unlike with eToro, where you have to go around sending a message to customer service or contacting support vía chat to get them to top up your account, and they take 2 days to do it, with 24Option you don’t have to do anything: they do it themselves. they will recharge your virtual money automatically when you run out
Of course, you should know that in order to try the demo account of 24Option you need to make the minimum deposit before, Just by creating an account with the broker you will not be able to use it.
commissions from 24Option and eToro
This is the most important part that you should always look for in a broker and research.
Because? Because the commissions that an investment platform has cánido make your benefits are not worth it in relation to the operations you have done.
I will give you an example: imagine that you have carried out several operations and you have obtained a total of $470 in return.
But the broker you have chosen charges you high percentages for opening each operationto withdraw your money, to deposit money, and also night rates if you operate at night.
And that all those commissions together add up to $203.
If you have to subtract $203 of commissions from your $470 earned, In the end, you would only have $267 left. Is it worth putting your effort, your time, and your money in that one page takes away almost half of your benefits? Well no.
That’s why you should always pay close attention to commissions from each broker.
So here I am going to tell you the ones that have so much 24Option like eToro.
Commissions for spreads
Spreads are a type of commission that ALL brokers charge when you make a trade.
It’s basically the price you have to pay to open a trade.
The spreads are different for each financial asset (company shares, raw materials such as gold or silver, cryptocurrencies…) and you cánido see them before carrying out an operation.
To give you an example and give you a better iniciativa, in eToro if you escoge to invest on the Euro/Dollar currency pair, they charge you 3 pips; if you do it in Pound Sterling / Dollar, it is 4 pips; in New Zealand Dollar / Habitual Dollar, it’s 5 pips.
At 24Option the spreads are somewhat lower: For Euro/Dollar currency pairs, it is 2.7 pips if you have a Basic account, 1.8 pips for Gold accounts, 1.4 pips for Platinum accounts, and 0.9 pips for VIP accounts.
And in other financial assets, too its pips are somewhat lower than on eToro. To invest in gold, for example, the pips are $0.6 for basic accounts, $0.5 for Gold accounts, $0.4 for Platinum, and $0.33 for VIP accounts.
So for this part, 24Option wins by having lower spread commissions than eToro.
Commissions for deposit
24Option does not charge any commission for making a deposit in your account, nor for the currency exchange if, for example, your currency is pesos or bolivars, and the platform has to convert that money into dollars.
eToro also does not charge any commission for making a deposit, but does charge a fee to make the change currency.
That is, if you make the deposit in pesos, for example, to convert them to dollars they will charge you a percentage.
This commission is different depending on what your local currency is.
Commissions for withdrawing money
If you want to withdraw the profits you have made from your trades, both 24Option and eToro will charge you a commission. But in each broker they are different.
On eToro, the minimum to be able to withdraw is $30, and the commission they charge is 5 dollars. Thus, if for example you withdraw $75, your account will only receive $70 because you will be charged a fee of $5 for making that withdrawal.
At 24Option, the commissions depend on the withdrawal method you are going to use.
If you want to withdraw money to your card, they will charge you 3.5%. If you choose an electronic method such as Skrill or Neteller, the commissions are between 0.9% and 3.5%.
And if it is by bank transfer, they will charge you a fixed cost of $30.
let’s do a simulation imagining that you are going to withdraw $100 to your card debit or credit to see which of the two brokers would be cheaper.
If you withdraw $100 with eToro, they would charge you a flat $5 fee, so you would receive $95 in your account.
And if you withdraw $100 with 24Option, they would charge you a commission of 3.5% of the total, which would be $3.5, so you would receive $96.50 in your accountso it would be more convenient for you to operate with 24Option and withdraw money with this platform since they charge less money.
inactivity commissions
These types of commissions are charged by brokers when you have spent a certain time without entering your account nor do any operations.
That is why I recommend that, even if you are not going to trade, from time to time you log into your account so that you do not have to pay this type of fee.
At 24Option, this commission It is activated when you have spent 2 months without entering or use your account, at that time they will charge you 80 euros or 91 dollars until the third month.
Between the third and sixth month (3 to 6 months), you will be charged a commission of 120 euros or $137. The truth is that for me, this is a negative point of 24Option because it seems to me that they are somewhat high commissions.
But as I have told you, the solution is fácil to avoid this charge: even if you are not going to operate, log into your account at least once a month, Or if you directly know that you are not going to trade with this broker again, close your account and thus you will not have to pay this fee.
As for eToro, they are more maleable with this: your account will become inactive if you do not entrar it in a time of 12 months. After 1 year without logging in, they will charge you $10 per month for not using your account.
Deposit Methods on 24Option and on eToro
The deposit methods that exist in 24Option to deposit money in your account and make operations are Visa, Mastercard and Discovery cards, bank transfers, and as electronic payments you have available AstroPay, Skrill and Neteller.
On eToro the deposit methods are with Visa and Mastercard cardsbank transfers, and electronic payments such as PayPal, Skrill, Neteller and WebMoney.
Please note that the minimum deposit in 24Option is $100 if you live in Latin America and $250 if you live in other countries (such as Spain, the United States), and that in eToro minimum deposit is $200.
Methods to withdraw money on 24Option and on eToro
The methods to withdraw your capital at 24Option and at eToro they are the same as the deposit methods.
At 24Option you perro withdraw your money through Visa, Mastercard and Discovery cardsbank transfers, and as electronic payments you have available AstroPay, Skrill and Neteller.
On eToro the withdrawal methods They are with Visa and Mastercard cards, bank transfers, and electronic payments such as PayPal, Skrill, Neteller and WebMoney.
However, the minimum to withdraw money in 24Option is only 10 dollarsand instead in eToro the minimum to withdraw money is higher: 30 dollars.
In what assets perro i invest with 24Option and eToro?
24Option and eToro have tons of assets to invest in from categories like stocks, commodities, currencies, exchange-traded funds (ETFs), indices or cryptocurrencies.
Total, eToro has more than 2,500 assets among which you perro choose to invest.
For its part, 24Option has more than 500 of the most important assets to trade.
Some examples of the assets you perro invest in on eToro (although there are many more) are:
- Shares of companies like Google plus, Apple, Fb…
- Raw materials like gold, oil, and natural gas
- Currency pairs like the Euro / Dollar, Dollar / Japanese Yen, Euro / British Pound…
- Exchange-traded funds that are multiple assets bundled into one such as Proshares Ultra S&P 500 or SPDR Gold
- Market indices like Nasdaq, DAX, or the dow jones
- And cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash…
Although 24Option has fewer assets, the main and most important ones are the same or afín as on eToro:
- Shares of companies like Google plus, Apple, Amazon, Nike, Fb…
- Raw materials like gold, silver, oil, coffee…
- Currency pairs such as the Euro / Dollar, British Pound / Dollar, or the US Dollar / Canadian Dollar
- Market indices like the Dow Jones, Ibex 35, Nikkei 225…
- And cryptocurrencies like Bitcoin, Ethereum, Ripple, either dash
ease to use the 24Option and eToro platform
Both 24Option and eToro are good brokers that have created their web pages so that even a beginner who has never invested before cánido navigate easily and intuitively.
On eToro you have a full menu on the left in which you perro check at a glance all the options available to you, such as seeing your trading portfolio, the instruments you cánido invest in, the people to copy, and switching from the demo to the real account easily.
However, the drawback that I see in this broker is that although these menus are easily accessible, to fully entrar each option it perro be a bit tricky.
For example, if you want to copy the operations of another trader (this is what is called popular trading), it is not enough to clic on the “People” section of the menu: you will have to configure a list of 17 different filters to be able to see the best ones for you and the ones that interest you the most.
When you are an advanced usuario like me, it is very nice that you perro configure the page to espectáculo you only those traders with a certain percentage of profit, or that you cánido choose which risk classification they have.
But I also think They should have a simpler menu in which, instead of having to configure 17 different filters, with just a couple of clicks you could choose to espectáculo you, for example, the traders who have the highest return and the assets you want to operate on.
Also, as I told you before in the demo account section, they should improve the power to see at all times how much money you have, what benefits you are getting, and the capital you have left to invest in any section of the page.
The same thing happens in the real account as with the practice account: until you make your first operation, and go to the “Portfolio” section, you will not be able to know how much money there is in your account to start trading.
The good thing is that apart from that, the rest of the page is easy to use; You cánido make a deposit in a fácil way with a single clic on the “Deposit funds” button, or withdraw your benefits in the same way with the “Withdraw funds” button, and a new window will appear with easy-to-follow steps.
The 24Option page is more like the typical website where you have the menu at the top, and from there you cánido see all the options it offers you.
Sections are simplified so that you cánido better choose where you want to go: you have the “Operate” section to start trading, “Banking” to deposit, withdraw your money, transfer it, see the requests you have pending, your transaction history and your cards…
In “My account” you cánido quickly see your information, the documents to verify your access that you have sent, and change some of that information if you want.
And finally, the “Deposit” button to entrar your money in a single clic.
I certainly I prefer a web page that is structured like this because it is what we are normally used to in all Internet sites: having a fácil menu at the top that, when clicked on, takes you quickly to where you want to go.
As for performing operations, its operation is also fácil. You just have to clic on “Operate”, and a fácil box will appear in which to entrar the information to make your operation.
Only you choose the asset in which you want to invest, you entrar the volume of the lot with which to trade (this is the money you want to invest in this trade), clic on the “Sell” box with red numbers or “Buy” with green numbers, and select when you want to close the trade.
What I like the most about 24Option is precisely this, that you perro select if you want the transaction is closed automatically when you start to have profits, or to do it if you start to have losses.
In other brokers that I have used, you have to choose how long it takes to close the operation (one hour, two hours, 24 hours, 7 days…) or do it yourself manually.
The problem with this is that you perro get confused, not remember that you had to close the operation – if you do it manually – and find that you have had HUGE losses because of it. It has happened to me on more than one occasion…
But 24Option gives you a kind of “insurance” With these options, since by choosing one of them, the operation will be closed automatically without you having to do anything or as soon as you have losses, or when you have reached the benefits you want.
That way, you make sure that you always you get the highest percentage of positive results when trading on this platform.
what24Option or eToro? My personal experience
I got to know about eToro about 2 years ago, and 24Option about 1 year ago, and right now, definitely I prefer 24Option because it is a better broker.
When I found eToro, I was looking for a broker that would allow me not to think too much about my trades and leave me enough time to attend to my en línea business.
And I recognize that it worked very well for me thanks to its popular trading option in which you only have to look for other successful traders, and copy their operations.
But what I didn’t like very much was that in a very short period of time, They changed the minimum deposit.
It was in December 2017 when I suddenly went to top up my account, and I found that instead of $200, the minimum deposit had gone up to $1000! I spoke to my eToro account agent to ask him, and he confirmed the new amount.
So during that month, I did not operate and I was looking for alternatives in other brokers with lower prices.
I guess eToro knew it was a mistake, because then in January 2018 they equipo the minimum deposit back to $200 again.
But this change It was something that I did not like for an investment platform that I had only been trading for a few months.
Although I recognize that after that, the page has continued to work fenezca, I have always been able to withdraw my money correctly when I wanted to, and being able to copy others is very comfortable if you don’t want to think much about trading strategies, or if you don’t have experience investing.
However, in the year that I have using 24Option I have not had any problemsand also for me it has some more advantages than eToro.
To start with, the minimum deposit of 24Option is only $100 if you’re in any country in Latin America, half that of eToro where the minimum deposit is $200 (and that’s if they don’t raise it at some point like it happened to me).
Your platform works for me much easier to use even being already an experienced trader; the menu is much simpler and at a glance you cánido see exactly which section you want to go to.
And as I told you in the previous section, the option that you cánido stop an operation automaticallywithout having to do anything, just by choosing if you want to close it when you have losses or profits, is a pretty big step forward to maximize your percentage of hits, and avoid losing your money.
In addition, also the amount to withdraw the money you earn is much lower: At 24Option you cánido do it with only $10 in your account. In eToro instead, you must accumulate $30 in your account to be able to withdraw that money to your bank account or to your electronic wallet.
The only aspect where perhaps eToro beats 24Option is in the number of assets, since the first has more than 2,500 assets and the second only 500.
But if I take a general cómputo, 24Option certainly has many more advantages: a much lower minimum deposit, easier to use the web for anyone, the minimum to withdraw money is also much smaller, and of course the commissions are also lower.
Besides, 24Option has a complete educational section In which you will find news analysis that will guide you in the assets to trade, an interactive ebook to learn to trade, investment strategies, and webinars.
Have you already tried 24Option or eToro? With which you stay? Leave me a comment below and tell me what you think.
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Andrés Gananci is an entrepreneur and adventurer with a passion for life who founded his first en línea business at just 17 years old. 12 years later, he is still traveling the world while working from home.
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