A quick search for the top online brokers today would probably bring up both eToro and Revolut. That’s a problem for you, which is why you’re reading this now trying to decide the best among the two. To determine the true champion, you have to look at these two companies on different scales and judge the services separately. Only after doing this will you find the true winner.
Platform ease of use
eToro has been in business for over a decade since being founded in 2007, so it would make sense that the company has refined its trading platform to a point. Indeed it has, and the eToro trading platform is not only one of the easiest to use around, but also one of the most powerful and loaded with technical tools to aid you in your market analysis and trading.
Revolut has a shorter history since 2015 than eToro, but it too has created a very intuitive and easy to use app for both iOS and Android. The only problem is that the company only offers the app but does not have a platform that can be accessed by a PC. Inasmuch as the app does great at navigating different markets and placing orders, it still can’t give a trader that extra precision to study the markets.
The winner here is certainly eToro.
At eToro, fees are charged only on certain transactions. For instance, deposit fees are completely free but withdrawals incur a $5 fee. Orders made on CFD trades will be charged a spread, while orders on non-leveraged products will be charged conversion fees only. This structure is there to make sure traders don’t incur too many costs, especially when trading frequently.
On the other hand, Revolut has really tried to make commission-free trading possible by eliminating most of the fees up to a point. A standard account with Revolut is free to open and run, but you only get 3 free trades a month, after which a commission is applied to every trade. Premium customers pay £6.99 a month, but in return get 8 free trades a month and Metal members pay £12.99 a month to enjoy unlimited commission-free trades a month.
Winner has to be eToro for keeping fees low all around and not just favourable either for those who have funds to spare or don’t make a lot of trades.
And the winner is once again eToro in the green corner.
It would be no good having a trading account if you can’t deposit money into it, and to do so in the most convenient way for you. eToro gets this and has subsequently made many deposit methods available to its customers. If you don’t mind waiting a few days to start trading, then bank transfers are allowed. But for those who prefer instant deposits, you can choose between credit/debit cards and e-wallets like PayPal and Skrill. Crypto deposits are also available into your eToro wallet for those who prefer.
On Revolut, your options are limited to bank transfer and crypto. Unfortunately, crypto transfers are only allowed from one Revolut address to another, and not from external wallets. You can also link your credit card to your Revolut account and execute trades from it, so this might be considered as another deposit method.
In the end, eToro takes the cake for most deposit methods.
eToro has a variety of markets one can access such as Forex pairs, stocks, bonds, ETFs, commodities, indices, crypto and several others. In each category, there are also plenty of options to choose from, making the overall list of assets quite long. It would make sense considering how long the broker has been around unlike Revolut.
With the latter, its goal was to make commission-free trading of stocks possible. Today the company provides access to over 450 US stocks and 5 cryptocurrencies. The number of stocks is impressive, but a limit on other markets drags down the trading experience.
Thusly, eToro takes the win yet again.
The most unique feature of eToro is in social trading. No other broker in the world has such a vast network of traders allowing for the publishing and copying of trades. It not only helps new traders make money even without the necessary skills but also gives skilled traders a new way of earning money from their expertise. Revolut too is unique in its own way, in that it serves its clients by being a revolutionary digital bank offering free stock trading. A problem arises when certain users can’t enjoy the service because it is only available within Europe.
As a result, we have to give eToro the trophy once again.