eToro vs FXPro: one of them has commissions

eToro vs FXPro: one of them has commissions

Since I wrote my article on how to choose the best broker to invest, many of my followers here at Gananci have asked me about platforms like IQ Option, avatradeMarkets, DeGiro…

So for the past 7 months, I’ve spent more than 540 hours investigating 43 brokers different to check what differences there are between them, and which are the best and worst to start investing.

And here I am going to share everything i have discovered on two of the most habitual trading platforms today: eToro and FXpro.

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you cánido afford to take the high risk of losing your money.

It is important to read and understand the risks of this investment which are explained in detail at this backlink.

AFSL 491139. Risk capital. See PDS and TMD.

A small advance: one of the two has commissions so high that will take half of the profits what do you generate…

What are the differences between eToro and FXpro?

Minimum deposit on eToro and FXpro

Demo account on eToro and FXpro

eToro and FXpro Commissions

How to withdraw your money on eToro and FXpro

My experience with eToro and FXpro

▶ eToro vs FXpro: which is better?

minimum deposit on eToro and FXpro

A aspecto that perro be decisive when choosing a broker is the minimum deposit you must make on your platform.

Especially if its the first time that you are going to invest in this type of activity.

But be careful, because many times the minimum deposit is low does not orinan that it is a good broker.

There are many platforms that have low deposits, but then their commissions are so high that it is not worth investing with them since most of the benefits you generate, you will lose in commissions.

In eTorohe minimum deposit is $200. It may seem like a bit high, but the truth is that many brokers charge more than this.

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you perro afford to take the high risk of losing your money.

It is important to read and understand the risks of this investment which are explained in detail at this backlink.

AFSL 491139. Risk capital. See PDS and TMD.

Depending on the asset, you perro open a trade for as little as $25 at the very least, so you have several opportunities to invest in eToro.

Now, FXpro has a minimum deposit of $100. Although it is lower than eToro in what you perro entrar, the platform itself recommends that you deposit at least $500 for a start.

This is because to leverage that brokers have available and that if you get to use it, you should keep in mind that it is a double-edged sword.

ok you cánido quickly wipe out your money or get much more without having so much money in your funds.

Similarly, when it comes to investing, the more capital you invest, the the greater your benefits.

Account demo on eToro and FXpro

Something you should always look for to choose a good broker is have a demo account with which to practice before investing with real money.

A demo account allows you experience first hand how operations are made on a trading platform.

So you will be able to get to know it completely during the use of this test to make the decision that suits you.

Normally, this type of account is used for two reasons: the first is to improve strategies that you learn to invest.

And the second is so that you cánido get used to the platform where you will deposit your money.

eToro gives you one demo account totally free from the moment you register on their website.

[box title=”Advertencia General De Riesgo” style=”soft” box_color=”#f49509″ title_color=”#333131″ radius=”3″]Every investment involves risk. Only risk money that you cánido afford to lose. Past performance is not an indicator of future results. The purpose of this content is merely educational and should not be considered investment advice. My readers are the most important thing in the world to me, and I don’t want them to spend money they don’t have.[/box]

This demo account has $100,000 virtual dollars non-rechargeable so you perro try investing in any type of operation.

you have the possibility of use all features and properties of the page, except for the withdrawal of money.

Because eToro is a platform of popular tradingwhere you cánido copy the movements and operations of other traders in automatic mode, it also allows you to interact with the other users of your popular network.

My friend Andrés has tried the eToro demo account, and in the following article he tells you all his personal opinion using it: I teach you how to open a demo account on eToro for free.

On the other hand, FXpro allows you to open a demo account with various amounts of money. That is, you cánido choose figures from $500 to $500,000and you cánido use all the benefits of the platform.

In fact, the market conditions are in real time, the only thing that You cánido’t do is withdraw money.

And if you run out of the amount of virtual money you chose at first, you cánido recharge it as many times as you want.

Commissions of eToro and FXpro

The commissions that a broker charges is something that you should take into account before choosing one.

In fact, for me, the fees charged by a trading platform are almost the most important point which I always keep in mind.

Because? because so you avoid taking surprises when operating and wanting to withdraw your money. Taking commissions into account, you will be able to make better investments.

While it is true that platforms need a way to maintain themselves, and they do so by charging commissions, there are some that both exaggerate the rates or collection amounts to the point of taking away a good percentage of the profitability that you perro obtain with your operations.

eToro has 5 types of commissions that are charged depending on the action you do on the platform.

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you cánido afford to take the high risk of losing your money.

It is important to read and understand the risks of this investment which are explained in detail at this backlink.

AFSL 491139. Risk capital. See PDS and TMD.

The first is about the spreadwhich is not a commission as such, but a charge for the established differential.

This difference is found in the subtraction between sale and purchase prices of the asset with which you are operating, and it is assumed by the trader when operating.

For example: If you are going to trade Apple shares, and they are trading at $224.88 as the ask price and $225.29 at the buy price, the difference between these two values ​​is 41 Pips, which will be deducted at the beginning of your operation.

That is, the difference between the purchase value and the sale value you will be charged. And that is why every time you take a position, it starts with negative values.

The second is about the night ratealso called swap.

Every time you go to make an operation after 5:00 p.m. or leave a trade open for 24 hours, you will be charged a maintenance fee.

The value on eToro varies depending on the asset you are trading, but they range from $1.23 to $5.

I recommend that you avoid opening a position on Friday after 5:00 p.m.since you will be charged triple the nightly rate due to the weekend.

In third place is currency conversion. Because eToro emplees the US dollar as its trading currency, all deposits made in other currencies will be automatically converted to US dollars, which incurs a fee.

It is a fixed commission of a few pips difference.

Besides, the withdrawal of funds since eToro also has a commission. The cost of this withdrawal is a flat fee of $5 for each withdrawal you make. I must also tell you that the minimum withdrawal is $30.

Yes, I know that may seem like a lot, and that it reduces your return, but the truth is that if you think that you are going to withdraw only the minimum $50, it will have an impact.

But with all reliable eToro profitsthis commission will not affect you when you manage to withdraw $500 or $1000.

Finally, there is the commission for inactivity in the account.

This charge is only made when you have more than 12 months without entering your account.

That is, if you pass more than 12 months without entering your account with your correo electrónico and password, then they will charge you a commission of $10.

If you do not have money in your account cómputo, you will be charged at the time you deposit.

So the best thing you cánido do is connect once every few days or weeks from time to time (no more than one or two months) so that they do not charge you this type of commission.

Now there is 3 types of commissions things to keep in mind when trading with FXpro.

The first is about the commission for each operation carried out on the platform cTrader from FXpro. They charge $45 for every million dollars traded, which means that for every $1 traded they charge $0.000045.

The amount to be collected will be determined based on to the lot of units you are trading with through a elabora.

It is about fácil multiplications and divisions that includes the current exchange rate of currencies with which you are trading and the currency in which your account is represented.

this commission they charge it twice for each operation that you do, at the opening and closing.

So this is a pretty big disadvantage because it’s like if they charged you two commissions at once.

If you need help, you perro get this elabora on the broker’s website so that you perro equipo up your accounts yourself.

There is also the collection of swap or the night ratewhich is applied depending on whether it is a swap short or long.

It is calculated with a elabora that FXpro provides you which includes the value for pipthe lot size of your trade and the number of nights the position will be active.

You cánido get to have a swap both positive and negativeit all depends on the calculations, which cánido benefit you to have better results at the end of the operation or perhaps the opposite.

On the other hand, FXPro does not charge for making deposits or refunds to its clients through bank transfers, but the intermediary banks do, and these amounts perro vary between $14 to $50.

Now, yes it is done an plus charge of 1.6% for deposit of money through credit or debit cards.

Likewise, there are charges for refund or deposit operations through electronic payment system.

For PayPal deposits, FXpro charges 2.7% of the total; for refunds to Skrill 2.6% and for Moneta deposits 4% is charged.

That is to say, if in FXpro, for example, you make a deposit of 200 dollars with PayPal, you will have to pay a commission of 5.4 dollars, and if it is with Moneta, it will be 8 dollars.

In any case, to find out exactly what amount of commission you will be charged per operation, the platform has commission calculators.

So perro make sure you are not going to overpay when making your investments.

FXpro commissions calculated with their en línea calculator

As withdraw your money on eToro and FXpro

Withdrawals It is one of the aspects that matters most to traders.

And this is something that many brokers constantly seek to facilitate, so that your users do not have problems with withdrawals, especially if they have large amounts of money invested in their platform.

In the case of eToro, it is very fácil. You must have a minimum available cómputo of $50 by withdrawal, and your account must be verified.

For your account to be verified, you will simply have to send a photo of your identity document so that they see that the data is real. This is for security measures.

You cannot withdraw the money directly, you have to make a withdrawal request for it. This request it takes 1 to 3 days in being approved. You perro withdraw the money depending on the method you have chosen to entrar it.

That is if you deposited with your debit card, you perro remove it only with her. You will also be prompted for an alternate withdrawal method in case there is an fallo with the primary one.

For each withdrawal of money you will be charged $5 commission. This is a fixed fee no matter how much money it is.

That is to say: if you withdraw $100, they will charge you a commission of $5. And if you withdraw $345, they will also charge you $5 commission.

Besides, FXPro is totally different. And here I also see a big disadvantage compared to eToro.

There is something called FXPro Vaultwhich would be like a safe where all money is safe from operations or misuse.

From this section you cánido send money that is intended for trading or withdrawing your funds.

So if you want to withdraw your money from FXpro, first you must pass it to your vault so that you perro have it enabled to make a money withdrawal, and then already make the withdrawal request, which will delay you in getting your benefits.

You must do make a withdrawal request which will take one business day to be confirmed, and in which you cánido withdraw the money only by the payment method that you have chosen for the first time.

There is no commission charge for refunds through bank transfer, except for the charge that the bank makes you.

However, there is a commission for withdrawing money. through your debit or credit card 1.6% if it is Mastercard; 0.35% if you are a Master. They also charge you 2.6% for the refund through Skrill.

Generally the funds you withdraw They take approximately 5 to 8 days. in becoming effective in your account, so it is not the fastest way to get your return from this platform.

My experience with eToro and FXPro

I have been using eToro for over three years and FXPro for 7 months, and this is what I cánido say after fully comparing and experiencing both platforms.

FXPro is an interesting broker, but it is quite complicated for beginners because you have many different types of platforms to invest in like MetaTrader 4, MetaTrader 5 either cTraderand all of them they work in a different way.

So every time you want to make an investment, you will have to re-learn how it all works.

If you are a beginner in the world of investments, this it’s a pretty big drawback.

FXpro is about everything a broker for experienced traderswho are willing to invest large amounts of money.

That is the reason why the commissions it has (even if they are less than those of eToro) are so high: because it is aimed at experienced investors who invest large amounts.

The page is not very easy to use; has a well-designed interfaz where you perro find all the parameters to do an operation, but it is difficult to understand when choosing an asset to invest.

The advantage that I see is that you perro quickly locate the indicators and tools that will allow you to improve your financial analysisin order to carry out operations with more probabilities of success and obtain benefits.

Although it is the same thing that I told you before: to To understand this financial analysis, you must be an expert trader. If you are not, you will not understand the analysis.

Something that surprised me a bit for the worse was the use of a central account called “vault” in which you entrar money, but You cannot use that capital to invest.

In order for it to be enabled to trade, you must transfer it to your trading account. And that’s something that it will waste a lot of time.

Its demo account is also a novelty, since you have the possibility of choose how much money you want inside it. And in case you run out, you cánido recharge it as many times as you want.

I had the opportunity to use the platform, and although confused me a bit at first Because of the way it should be inverted on the page, I eventually got used to using it, but after making a lot of mistakes.

In addition, the number of formulas that you cánido use to calculate the commissions that the page will charge you for operations they are a bit complex for people who may not have such extensive knowledge of the subject.

However, there is a virtual calculator integrated into the broker that allows you to do all the above calculations automatically. Which is a relief.

I had to communicate several times with the customer service team for this type of doubt and they were able to answer me quicklyin a concrete way and they even sent me backlinks to understand better.

When making a withdrawal, I was also a bit disappointed.

I had to transfer my money to the “vault” that I told you about before, and then ask to make a withdrawal to my bank account, with which everything took longer, about 8 days or so to see the money in my account.

Now on the side of eToroI must say that it is a first level platform. With all the services and possibilities that a trader could want to improve his strategies and generate profits in the process.

Definitely, if you are a beginner eToro is better than FXpro because all its page and operations are easier to use.

With a super intuitive, sober and friendly interfaz, it allows you to navigate through it with total ease. Even the people who They don’t know about the subject, they perro do it. without getting lost

Has a fairly complete educational program that allows you to know everything related to en línea trading, its risks and benefits, and you perro read it for free.

It is perfect for beginners or someone who he has no experience in this.

eToro has a popular trading platform, which basically consists of copy the trades of other successful investors so that you generate benefits without having to do anything.

With this practice you cánido interact with investors from all over the world and quickly improve your profits copying other people’s operations They have much more experience and knowledge.

In addition, eToro has a demo account with virtual $100,000 that allows you to enjoy all the benefits of the platform indefinitely and for free.

While eToro’s minimum deposit is $200, compared to FXPro’s $100, you perro Get much more out of your money with eTorosince you have a greater possibility of diversifying your investments.

This is what I have done in the time that I have been using it, since I started and deposited after using its demo account for a few weeks, I began to invest in various assets and copy people’s movements They had good results and yields.

The result was positive and gave me the perspective to continue with this strategy.

Withdrawals I have made they have been fast and punctualwithout having any inconvenience. In less than 3 days, I have always had the money I ask for in my account.

eToro vs. FXPro: which is better?

The truth is that deciding which is the best broker is something very subjective that varies according to your needs as an investor.

If you are already an expert investor and have no problem with understand certain mathematical formulas to calculate the commissions or with keeping your money without being touched, in addition to wanting some freedom with the demo accounts, FXPro is for you.

Since it is a platform that has a lot to offer, but is designed to people who already have previous experience and who seek to invest large amounts of money.

You cánido understand this when you know that for every million dollars invested, it only charges a commission of $45.

However, you should also keep in mind that FXpro has other commissions that are quite high as I explained to you above in the commissions part.

Besides, eToro is one of the best known, used and respected brokers from the actuality.

If you don’t know anything about investing, I recommend you use eToro.

In it you will be able to feel at home thanks to a huge community of traders that every day they are connected to invest and share their knowledge.

It is a platform for any type of person, no matter the level of experience you own, anyone cánido quickly get used to the eToro interfaz.

Most striking is the possibility of copy trades of other traders to get the same results as them.

This means that you significantly increase the chances of achieve positive resultssince you will be copying someone who is really successful.

People in the community help each other, so much so that you perro ask anything and they will answer you kindly. In addition, they also share financial news and investment advice that will come in handy on a day-to-day basis.

I personally always recommend eToro to those who want to learn from scratch or are beginnerseven if they do not have the necessary capital.

Since they have a very useful educational section, and the free demo account that they offer allows you to make use of their entire platform of popular trading. With basic knowledge and interacting with other expert users, learning becomes faster.

Customer service is something that in both brokers it is first class. In both they explain very cordially everything that happens and everything you cánido do on the platform.

In eToro you have as a means of contact correo electrónico, telephone numbers for each country, and a live chatand normally they attend from Monday to Friday 24 hours a day.

While FXPro also has the same means, but it also has a live chat with which you cánido answer questions instantly.

However, as to money withdrawals, the advantage is clear to eToro.

In FXpro I have taken more than 8 days in receiving my money; On the other hand, with eToro I have the money in my account in just 3 days.

And you, which is better for you: eToro or FXpro? Leave me your comment below and tell me about your experience!

eToro is a multi-asset platform that offers investments in both stocks and cryptocurrencies, as well as CFD trading.

Please note that CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. He 79% of investment accounts lose money when trading CFDs with this provider.

Past performance is not an indication of future results. The trading history presented is less than 5 full years and may not be a sufficient basis for making investment decisions.

Copy trading is a portfolio management service provided by eToro (Europe) Ltd., which is authorized and regulated by the Cyprus Securities and Exchange Commission.

Investing in crypto assets is not regulated in some countries of the European Union and the United Kingdom. No consumer protection. Your capital is at risk.

eToro USA LLC does not offer CFDs and does not represent or assume any responsibility as to the accuracy or completeness of the content of this publication, which has been prepared by our partner using publicly available information that is not entity specific about eToro.

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I am passionate about Internet business and digital marketing. I have learned a lot through practice, and I share my experiences to espectáculo that anything you want to achieve is possible.

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 eToro vs FXPro: one of them has commissions
  eToro vs FXPro: one of them has commissions
  eToro vs FXPro: one of them has commissions

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