eToroX Review

eToroX Review

Daniel Chan

March 24, 2022

Cryptocurrency

What is eToroX?

eToroX is a subsidiary of the popular cryptocurrency exchange eToro. While eToro is known for its extensive collection of cryptocurrencies and digital assets, eToroX is unique for its immensely professional trading experience. eToro is one of the oldest trading networks, released back in 2007. eToroX was established only a few years ago, in 2019. eToroX claims that it is designed exclusively for corporate traders, algo traders, day traders and traders who invest large sums. 

eToroX has a great collection of crypto assets, including new projects, stablecoins and tokenized assets. It also offers near-instant transactions and order placing. eToroX is a highly effective, secure and trusted platform for traders from various parts of the world.

In short, eToroX is a complete trading suite offering diversity, integrity, security, transparency and innovation, hitting every standard of the blockchain industry. In order to get started with eToroX, you must first have an account with eToro, which will then connect to your eToroX account.

  • Web Address: www.etorox.com
  • Main Location: Gibraltar, British Overseas Territory
  • Cryptocurrencies: BTC, ETH, BNB, LTC, XLM, and 50+ more
  • Fiat Currencies: USD
  • Deposit Methods: Wire Transfer, Signet, Cryptocurrency
  • Deposit Fees: Free
  • Trading Fees: 0.05%
  • Mobile App: No

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

My Overall Thoughts on eToroX

eToroX is one of the most advanced crypto exchanges on the internet. With all its futuristic features and options, eToroX has changed the dynamics of standard trading and provided traders a unique perspective.

I would not recommend eToroX to anyone who is new to trading, investing and cryptocurrencies. eToroX is designed for a specific subset of traders with a deep understanding of the industry who are interested in peculiar ways to trade. But in my opinion, eToroX is a whole new world for the right traders. The following are the things that I love the most about the platform:

1) There are different markets with popular and stable assets:  eToroX offers several trading markets and 80+ trading pairs. Users can switch between markets, choosing between the crypto market, FX and commodities. eToroX offers popular cryptocurrencies alongside stable assets.

2) It is a professional and advanced platform:  Even the layout of the exchange demonstrates how advanced and professional eToroX is. In addition to sophisticated, accurate and precise charts, traders are given the option of multiple order-placing types. Traders can also opt for API trading for full control over their trades. Not only that, but eToroX offers credit line trading for even better trading and profit-earning potential.

3) It is a secure and regulated crypto exchange:  The eToroX exchange fully abides by the laws and regulations of the Gibraltar government. It also offers its users full immunity by securing their accounts through several methods to prevent hacks and breaches.

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

Key Features and Advantages of eToroX

eToroX provides a complete, professional and efficient trading environment. Because eToroX was created solely to establish an advanced trading-only atmosphere for its users, the platform contains many futuristic trading features, options and integrations. However, if you want to buy or sell crypto assets, you will have to use the original eToro platform, and if you want to hold assets, the only option is to use the platform wallet.

But if your only requirement is a full-fledged trading platform, eToroX will not disappoint. Below, I’ve listed the key features and advantages of eToroX:

Negatives and Disadvantages of eToroX

eToroX might be the go-to trading platform for many professional and corporate traders, but I do not yet consider it to be the absolute best. eToroX comes with a few disadvantages, which I list below:

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

What Services Does eToroX Offer?

eToroX can be a complicated platform even for professional traders, due to the uncommon features and options they offer. In order to help you understand the platform’s services, I have briefly described all of their services in one place.

50+ cryptocurrencies to trade:  eToroX might not have the greatest diversity when it comes to cryptocurrencies, but it does have a lot of the popular ones. You can trade cryptocurrencies like BTC, ETH, BNB, USDT and 50+ more. In addition, eToroX offers tokenized assets of several fiat currencies and commodities that you can start trading right away, including Australian Dollars, Canadian Dollars, silver, gold and other digital assets.

Traders can also enter the FX market to diversify their portfolios and experience different opportunities. In total, there are about 80 pairs to trade on the platform, which is more than enough for any trader to go all out.

Advanced order types:  This is where eToroX sets itself apart from other crypto exchanges. As you already know, eToroX is designed for corporate and advanced traders, so they have introduced advanced order types through which you can open positions.

Aside from the old-school limit orders, users can also place FOK, IOC, GTC, GTD and a few other orders. Most of them include instructions, and they are executed and closed at a certain price. You can even utilize the iceberg order-placing technique, where massive orders are broken down into several smaller orders to conceal the real size of your trade.

Professional trading interface:  The overall trading interface of eToroX is quite professional, and at no point did I find it lacking or unstable. In addition to boasting sleek looks, all-around efficiency and availability of features, the trading interface is well structured, so it’s easy to find the options you are looking for. On the left side of the trading interface is the complete range of available pairs. On the top are the available markets, and you can click any of them to access their pairs.

In the middle, there are several charts, which I discuss later. On the right side, there is a complete order book. At the bottom, you can find your open trades, equity, credit, margin call, canceled orders and several other things.

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

API trading:  This is just another reason eToroX is unquestionably one of the finest and most sophisticated trading platforms. Few crypto exchanges offer API trading, due to its complicated and risky nature. But with eToroX, you can API trade and merge several applications in one place for a better experience. In other words, you can connect eToroX with any (supported) third-party application and get full control over your trades. The platform even supports custom-built third-party applications. You also have the potential to perform automated and strategic trading through APIs.

Enhanced customizable candle charts:  Every crypto exchange offers candle charts so traders can analyze the market before opening positions. But very few exchanges innovate in this area. eToroX, on the other hand, allows traders to optimize their charts by giving them three options: The first is market view, where you can analyze several charts of different assets at once. The second is the dedicated candle chart, where you can analyze only a single asset. Last is the market depth chart, where you can see the ratio of buy orders to sell orders for a specific period.

eToroX also allows traders to customize their charts. You can replace the candles with bars, lines or other shapes. You can change chart colors and create borders and price lines. You can also choose different scales, compare different assets and select different time zones and backgrounds. As you would expect, the option to add indicators is available, too, and there is a great variety to choose from. You can also take snapshots, select different time durations and enlarge the view for a better perspective. The charts are fast, precise and accurate, too, so you can place real-time orders without being misguided.

Credit line and margin trading:  Long-time traders know that credit line and margin trading can increase your potential, even multiplying it several times. For example, if you planned to invest $1,000 and decided to go with a five-times credit line, you would now have $5,000 to trade with. Trading in this manner comes with inherent risks, but if you want to give your trading capabilities a boost, a credit line can be a great way to do so without adding your equity to the trades.

Before you execute this type of trade, I suggest you first read and understand the market and consider the dynamics of your trade as well as the amount of time you plan to keep it open.

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

Convenient deposits and withdrawals:  Deposits and withdrawals are crucial for traders. If an exchange cannot offer suitable deposit and withdrawal methods, how can you start trading with actual funds? You don’t have to worry with eToroX, as the platform offers multiple suitable deposit and withdrawal methods. The most popular and easiest is crypto wallets, through which you can transfer your assets directly to your eToroX account. But if you want to deposit fiat, you currently can deposit only USD on the exchange. USD can be deposited through wire transfers and Signet, but it has a minimum required deposit amount, which can be massive for some traders.

Fully secure and regulated:  Any trader on eToroX should have peace of mind due to the platform’s credibility, which the parent company has been building since 2007. Just like eToro, eToroX follows all of the rules and regulations of the Gibraltar Government and Gibraltar Financial Services Commission, which means the platform has proper regulation and authorization.

The platform’s overall security is also top-notch. Users cannot join eToroX without verified accounts with eToro. The exchange allows users the option of several protection layers on their accounts to keep them secure and safe.

Premium customer support and help center:  If you have literally any query regarding eToroX services or if you are facing any difficulties on the platform, you can reach out to the support team of eToroX, and they will sort out your problem. The platform has even provided an extensive FAQ section as well as the physical address of their office.

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

Things I Don't Like About eToroX

All the aspects mentioned above are definitely great, but eToroX has some flaws that keep it just shy of perfection. Let’s check out the things I don’t like about eToroX:

A massive list of restricted countries:  eToroX is not available everywhere. The platform has provided a long list of countries where it does not offer its services, including the United States of America, many European countries and many Asian countries. Restricting potential traders from experiencing the platform’s advanced trading interfaces is a detriment to both the traders and the platform.

Lengthy sign-up process:  As I stated earlier, you cannot get started with eToroX until you have a verified account with its parent company, eToro. So if you want to join eToroX, you will first have to sign up for eToro, follow the whole verification procedure and wait for it to be approved and then sign up for eToroX. This process can be frustrating for many traders who are not at all interested in eToro and simply want to trade professionally.

Not very beginner friendly:  It may seem counterintuitive to list this as a disadvantage, since the whole point of eToroX is that it was built for corporate-level traders who are looking to invest enormous amounts. However, I want to emphasize that this trading platform is not suitable for beginners or new traders. Almost all of the features and options can confuse an amateur trader, and it can take some time to understand them fully. If you are looking for a beginner-friendly option, you can sign up for eToro instead.

What is the difference between eToro and eToroX?

Just like their names suggest, eToro and eToroX are two different platforms. But what exactly are their differences? Let’s find out!

Purpose

The first and the foremost difference is their purpose.

eToroX is not a place to buy and hold cryptocurrencies. It is built for the sole purpose of providing a professional trading experience.

Meanwhile, eToro is an all-in-one platform that allows users to buy and hold crypto, copy top investors, stake their assets, trade in different markets and even play with the demo account.

Asset availability

When it comes to the availability of assets, eToro beats out eToroX by a significant margin. This is because eToro supports tons of cryptocurrencies, stocks, ETFs, Forex, CFDs and a few other markets.

eToroX supports only cryptocurrencies, commodities and FX. The variety and diversity of its pairs are also not as great as eToro’s. But this is understandable, as eToroX was designed for a niche group of traders.

Targeted community

The platforms target different communities. eToro is the place for common traders and investors who are looking for a simple, straightforward experience. eToroX is the place for algo traders, corporate traders and traders with advanced requirements.

Platform compatibility

eToro has dedicated mobile applications, whereas eToroX does not.

eToroX Fees

eToroX Deposit Fees

Whether you deposit through wire transfers or from your crypto wallet, you will not have to pay any deposit fees.

eToroX Trading Fees

eToroX’s trading fee is quite minimal compared to other trading platforms, especially considering the professional services it offers. The platform has introduced a new trading fee model, which they have named “Inverted Maker-Taker Model.” Users can either go with this model or pay 5 bps/0.05% as maker or taker.

If you go with the Inverted Maker-Taker Model, you benefit from being a taker and placing orders against the order book. This is because eToroX rewards takers for removing liquidity from the market.

eToroX Fiat Withdrawal Fee

Users can withdraw USD only, using Signature Bank or Signet. There is no fee from eToroX, but there may be fees from the intermediary banking services.

eToroX Crypto Withdrawal Fee

Each cryptocurrency asset at eToroX has a different withdrawal fee. Some assets are totally free to withdraw, but users do have to pay a little for most assets.

Pros and Cons of eToroX

Pros
  • Popular assets available to trade
  • Advanced order types
  • API trading integrated
  • Professional trading experience
  • Credit line trading is available
Cons
  • Not available in many countries
  • Troublesome sign-up process

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

Verdict

eToroX can be a perfect all-in-one trading suite for the corporate and advanced-level trader. With a cheap trading fee, a professional trading experience, the availability of several assets and out-of-the-box features, eToroX fulfills the latest crypto industry demands.

API integration, special orders and credit lines are a few things that enhance the experience even further. Security and regulations offer peace of mind to traders while they trade a big chunk of their equity. If only the platform would allow traders from more countries and fix their sign-up process, eToroX would solve a lot of hassle for many professional traders out there.

If you are from the USA, you won't be able to access eToroX, so you may want to read our article on the best cryptocurrency exchanges in the US. There is also a short table underneath that you can use to compare key info on the top crypto sites.

Wallet and Exchange services provided by eToro X Limited ('eToro X'), a limited liability company incorporated inGibraltar with company number 116348 and with its registered office at 57/63 Line Wall Road, Gibraltar. eToro X isa regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investments andFinancial Fiduciary Services Act with licence number FSC1333B.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
Pionex
Coinmama
Gemini
Uphold
Crypto.com
Crypto Exchange
Crypto Exchange
eToro
Pionex
Coinmama
Gemini
Uphold
Crypto.com
Fiat Currencies
Fiat Currencies
USD
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, AUD, CAD, EUR, GBP, SGD, HKD
USD, GBP, EUR, CHF, AUD, JPY & 21 more
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY & 10+ more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, BCH, DOGE & 90+ more
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
BTC, ETH, LTC, XRP, CRO, ADA, DOT, SOL, DOGE & 250+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank transfer (ACH), Debit card, Wire Transfer, Cryptocurrency
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Bank Transfer (ACH), BPAY, SEPA, Credit/Debit card, PayPal, TransferWise, Fedwire, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.05%
2.93% - 3.90% (depending on loyalty level)
From 0.25% (maker) and 0.35% (taker)
Fees included in the spread
Exchange: from 0.4%, App: Free (included in spread)

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Frequently Asked Questions

Can US residents use eToroX?

Unfortunately, eToroX is not currently available for users residing in the US. eToroX restricts users from not only the US but many other countries too.

Is eToroX regulated and safe?

eToroX is a regulated and licensed cryptocurrency exchange under the authority of Gibraltar. The platform also offers its users a safe and secure environment to trade in.

Is eToroX beginner friendly and easy to use?

Certainly not! eToroX targets experienced traders. Due to the inclusion of complicated features and trading styles, it can be hard for beginners and amateurs to get a grasp of the platform. If you are a newcomer, I suggest you sign up for eToro instead.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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