Are you interested to find out what are the best alternatives to eToro in 2020? Even all viable options help you to trade without purchasing real cryptocurrency by yourself. How’s that?
As everyone knows, that cryptocurrency trading for newbies is a little bit complicated. There are many processes to be followed, such as create a cryptocurrency trading account, complete the KYC process, purchase cryptocurrencies, transfer it to the exchange wallet and then start trading in cryptocurrency.
The big plus point is that you don’t need to buy any cryptocurrency to start trading, and it is possible through crypto CFDs.
CFD stands for a contract for difference. It is a popular form of derivative trading. In which, you are buying a contract of the price at the current trading value. Additionally, the CFD enabled platform allows you to keep watch on rising or falling prices of cryptos of other exchanges and markets.
Since you are not trading actual cryptocurrency, trading in CFD does not affect the market. eToro trading platform is a leading market offering CFDs in cryptocurrencies.
So if you are interested in joining trading platforms similar to eToro, then here is the list of best eToro alternatives to use in 2020.
- 0.1 1. Naga Trader
- 0.2 2. Prime XBT
- 0.3 3. Plus 500
- 0.4 4. Zulutrade
- 0.5 5. Tradeo
- 1 So, which are the best alternatives to eToro in 2020?
1. Naga Trader
Right now, the Naga Trader is the best platform among the most popular alternatives to eToro in 2020. NagaTrader is the world’s leading online platform for investing in CFDs and crypto. It is also powered by social trading. That means the platform automatically pays you when other users from communities copy your strategy.
Being a cryptocurrency trader, you must prioritize the Naga Trader on your list as a good alternative to eToro, because it has its own cryptocurrency called Naga Coin (NGC). It provides more benefits to NGC traders using NagaTrader platform.
It offers realtime trading for 15 cryptocurrencies including fiat pairs.
With NagaTrade you may get the following benefits:
- Free Cryptocurrency wallet and exchange access
- Realtime trading order execution
- Personal account manager
- Risk management tools
- Charting tools with advanced and easy to use interface
- Free trading signals & daily insights
- Mobile & Web interface
To continue with NagaTrader, is quite simple & easy. All you have to create your account. You have to upload your documents and verify your account. Once verified, you can start trading.
2. Prime XBT
Prime XBT was launched in early 2018. It offers bitcoin-based trading & leverage-based trading. Prime XBT has capabilities to provide a trading platform to the traders, without holding/purchasing real cryptocurrencies.
Users can trade in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) with 100x leverage with the lowest fees.
Other features of PrimeXBT platforms are:
- Real-time order execution
- Two types of charges: Trading fees & overnight financing fees
- Trading fees are 0.05% per trade
- Secure & powerful systems powered by Amazon AWS
- Low commission rates and tighter spreads
3. Plus 500
Plus500 is a leading CFD enabled trading platform for the traders interested in cryptocurrency investment. Plus 500 offers CFD in multiple cryptos, it allows you to track the price movement without purchasing the cryptocurrency. It offers 14 crypto CFD pairs including BTCUSD, ETHBTC, ETHUSD and more.
The other important services by the Plus500 platform are…
- Realtime order execution
- Serves in more than 50+ countries
- No additional charges above quoted rate
- Chargeable fees for overnight funding, currency conversion and stop order
In the comparison of eToro with Plus500, the Plus500 does not have features like social trading or copy trading. It is the first choice of traders among the alternatives to eToro in 2020.
There are many trading platforms similar to eToro. Zulutrade is the one from the list. Talking about the working mechanism, the Zulutrade has a different channel. It is not a broker platform, but it is one type of a cross-broker platform. It is strongly focused on copy trading as well as on social trading as well.
More features & services by Zulutrade are…
- Realtime insights and trading signals to users.
- Copy-trading & social trading enabled
- It serves both on Web and mobile platform
- Leverage depends on the broker you use
Tradeo is one more eToro like trading platform which operates as a standalone broker. It also provides real-time trading facilities to the users including copy trading and social trading. Tradeo’s Social Webtrader is a useful tool featuring the most powerful signal section. It allows other users to copy the trading strategies of other successful users with a single click. This is a similar feature, like Naga Trader software.
A quick overview of the features provided by Tradeo…
- Minimum deposit required is $250
- Leverage is 1:200
- It has an easy to use mobile and web platform
- Supports MT4 platforms as well
- Tradeo offers instruments other than cryptocurrencies which are CFDs on commodities, metals, stocks, oil, gold, indices and more.
So, which are the best alternatives to eToro in 2020?
Talking about the best trading platforms, eToro is a multi-asset platform, which offers trading in CFDs, as well as investment in other instruments as well. While on the other hand, all of the best alternatives to eToro we have discussed are a good choice as well. Make sure, to note that crypto CFDs are complex instruments and it comes with high risks of loss due to leverage. Invest wisely and select the viable alternative to eToro based on your needs.