Bottom line: eToro USA is the best choice for crypto-focused and community-oriented traders, as it offers more assets — including automated investing options like CopyPortfolios and the CopyTrader™ system. Robinhood, on the other hand, best suits active traders and options traders who value low fees and ease of use. Though Robinhood has a fairly smaller crypto selection, it could be a better choice for crypto traders who don’t want to pay any fees for exchanges.
eToro vs. Robinhood: The biggest differences
eToro USA and Robinhood both cater to several types of investors. Though Robinhood initially started out as a stocks, ETFs, and options trading platform, it eventually launched crypto trading (it now offers more than 10 cryptocurrencies). eToro USA initially launched as a crypto exchange, but it has now added stocks and ETFs to its selection.
Overall, eToro is the best choice for cryptocurrency traders in search of a larger range of trading tools and available cryptocurrencies. US users can buy and sell more than 25 crypto assets, and the platform also lets you mimic the portfolios of more experienced traders or invest in pre-built and regularly rebalanced portfolios.
Robinhood, however, best suits frequent active traders, options traders, and crypto traders who want the lowest fees possible. The brokerage offers commission-free stocks, ETFs, options, and cryptocurrencies.
eToro and Robinhood’s features and account options also vary.
eToro
Robinhood
Account types
Retail
Professional
Account types
Individual brokerage accountsCash management accountsMargin accounts
Investment choices
Cryptocurrencies, stocks, and ETFs
Investment choices
Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs
Account perks
More than 25 cryptocurrencies
CopyPortfolios and CopyTrader system cater to hands-off investors
100,000 virtual demo account that lets you practice trading without losing any capital
Commission-free stock and ETF trading
eToro Academy
Account perks
Commission-free tradingFractional sharesNo-contract-fee optionsCrypto tradingCash management accountsMargin tradingMorningstar research and Nasdaq data
Human advisors available?
No
Human advisors available?
No
Robo-advice?
Yes — eToro’s pre-built CopyPortfolios take away the legwork of diversifying and rebalancing your portfolio on your own.
Robo-advice?
No
Is eToro right for you?
Pros
More than 25 cryptocurrencies available, including bitcoin, ethereum, dogecoin, and othersUS users can trade both full and fractional shares of stocks and ETFs without commissionseToro’s CopyPortfolios give you access to diversified pre-built investment portfolios; its CopyTrader™ system lets you mirror the portfolios of more experienced traders to generate better returnsSeveral educational resources, web and mobile app access
Cons
Limited selection of cryptocurrenciesMargin trading isn’t availableNot available to residents of New York, Minnesota, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, Northern Marianas, and the US Virgin Islands (see a full list of its geographic restrictions here)
eToro USA offers more than 25 cryptocurrencies for US traders, including bitcoin, ethereum, dogecoin, stellar lumens, cardano, and more. But it’s gone a step farther than many crypto exchanges by launching stock and ETF trading.
While you’ll pay 1% each time you buy or sell cryptocurrencies, you can eToro’s stocks and ETFs without paying commissions. You’ll just need a minimum of $10 to get started, but you’ll also be able to trade fractional shares.
Additionally, eToro’s CopyTrader™ system may be useful to those who prefer more of a hands-off approach to crypto trading. With this system, you can search for top-performing traders and mimic their portfolios. You’ll just need to allocate a set amount of money, and eToro will adjust your portfolio to match your desired trader’s investments.
Another option the crypto exchange offers for passive investors is CopyPortfolios. You can choose from four different pre-made portfolios (CryptoEqual, CryptoPortfolio, Crypto-currency, and TheTIE-LongOnly SmartPortfolio) that eToro regularly rebalances for you. However, while there aren’t any fees for these portfolios, you’ll minimum requirements range from $2,000 to $5,000, depending on the account you’ve chosen.
Finally, eToro USA simple interface and wealth of educational resources make it a suitable choice for beginners. In fact, its eToro Academy offers an extensive collection of guides and videos on all things crypto. You can set up the eToro app on iOS and Android devices.
Read Personal Finance Insider’s complete review of eToro here »
Is Robinhood right for you?
Pros
Commission-free trading for stocks, ETFs, options, and cryptocurrenciesFractional shares and margin accounts availableCash management accountsWeb platform and mobile app are easy to navigate
Cons
Limited investment types; no mutual funds or bondsNo IRAs or custodial accountsCrypto wallets not fully rolled out yet; waitlist available
Robinhood is a great option for active traders, options traders, and crypto-focused investors. The brokerage currently offers commission-free stocks, ETFs, options, and cryptocurrencies. And unlike most investment platforms, Robinhood doesn’t charge an extra options contract fee (many brokerages charge $0.65 per contract).
Robinhood has a leg up on eToro USA when it comes to its margin accounts and options investments. eToro offers neither, so you’ll want to keep that in mind if you’re looking to utilize options or borrow money to trade larger sums. As for its other account types, Robinhood offers individual accounts and cash management accounts.
Both Robinhood and eToro are great options for cryptocurrency traders, but Robinhood doesn’t offer as many assets as eToro does. It currently has a selection of 11 cryptocurrencies, including bitcoin, ethereum, dogecoin, and solana. Plus, prospective investors should keep in mind that Robinhood is still rolling out access for its crypto wallets (crypto wallets provide secure storage for digital assets and allow you to transfer your holdings in and out of investment platforms).
With Robinhood Gold, individuals gain access to margin accounts. Margin trading requires a $2,000 minimum, and you’ll incur a $5 monthly fee to maintain the account. However, these fees grant each user perks that include Nasdaq market data, thousands of Morningstar research reports, and a 3% margin interest rate.
Robinhood also offers numerous educational guides on all things investing and options trading. The platform’s mobile app is available on iOS and Android devices.