Robinhood vs eToro 2021

Is Robinhood Better or Etoro?

eToro or Robinhood? It’s the question so many people looking for the right financial platform for them want to know. Ultimately, this Robinhood vs eToro review is a match-up between a platform that has made an excellent reputation for itself amongst a specific audience – although it has versatility elsewhere – and another that is much more of an all-rounder. We can say that, in the case of both, they each excelled in more areas than we expected and each delivers a selection of world-class options.

That said, you will be getting a different experience based on whether you pick eToro or Robinhood. If you want to find out why that is – and why we were so impressed by both, even with the many comparisons and alternatives we’ve looked at – then be sure to check out the rest of our eToro vs Robinhood analysis.

Read More
Top Providers
80/100
75/100
72/100
70/100

Compare Top Online Brokers

Rating
82/100
Order Fee National
-
Order Fee International
-
Deposit Protection
-
Rating
80/100
Order Fee National
-
Order Fee International
-
Deposit Protection
$250,000.00
Rating
75/100
Order Fee National
1.00%
Order Fee International
1.00%
Deposit Protection
$500,000.00
Show All Providers

Introduction to Robinhood

Pros & Cons of Robinhood
  • Beautifully designed apps
  • Available on the Apple and Google Play stores
  • Low to no fees in many areas
  • No minimum deposit
  • No Forex trading

From our Robinhood review to the many comparisons we have made of this industry juggernaut, our understanding of them always comes back to one key point. This is that they are arguably the best in the world for newcomers who are looking to get into trading. Point blank, that is an excellent accolade for any competitor to come across. In this eToro vs Robinhood comparison, that is exactly what the opposition are facing.

It is a reputation that Robinhood backs up with a beautifully designed app which is easy to use, understand and trade with – and everything from payments to the Help section is made as easy as possible. There’s some additional versatility for intermediate users with the likes of the $5 a month Robinhood Gold option, but where they stand out, and where they are almost untouchable, is in their accessibility.

Introduction to eToro

Pros & Cons of eToro
  • Great variety of trading options
  • Especially good with cryptocurrency and Forex
  • Well-designed desktop and mobile options
  • Live chat available
  • Has some fees and minimum deposit amounts

As eToro doesn’t have a simple niche like their opponents in this Robinhood vs eToro review, it’s appeal can’t be summarised in a single sentence. Therefore, a lot of people don’t seem to know how to take them coming into this highly anticipated showdown. Perhaps the best way is to simply say they are good at a lot of things. Aimed roughly at the intermediate level of users but with some leeway on either side of the experience seesaw, they particularly have a great reputation for Forex and Cryptocurrency trading, although plenty more is available.

Their inclusion of Forex, in particular, will sting in this eToro vs Robinhood contest, as their opponents don’t have that option. However, that’s not too much of a surprise, as eToro has such a wealth of variety to offer. However, fees and minimums mean that it may not be the ideal platform of choice for those just looking to dip their toes into the financial pool.

Robinhood vs eToro: Usability, Look & Feel

This part of our Robinhood vs eToro review sees two very evenly-matched competitors. A quick glance, for instance, at the Google Play or Apple store, where both are available for download, shows a lot of happy users. Obviously, not everyone is positive – as all apps have some criticism – but overwhelmingly, the responses are positive.

On top of that, Robinhood has a reputation for being among the absolute best in the world in terms of ease of use. We would say that eToro is a touch more complicated. They do appear to assume a bit of knowledge on the user’s behalf, whereas Robinhood is suitable for absolute beginners. However, this is because there is more to uncover on eToro, due to their different target audiences.

This is often the story when it comes to these types of comparisons, like Robinhood vs Etrade and Robinhood vs Acorns. Ultimately though, both options are well designed, and all the key information about your account, payments and banking are straightforward.

Robinhood vs eToro: Payments

As you would likely expect, Robinhood keeps payments simple. We talked about this on our Webull vs Robinhood and Robinhood vs TD Ameritrade reviews, and well, you won’t be surprised that they haven’t changed much now we’re comparing these two huge names in the world of online trading apps.

Robinhood essentially works by linking accounts, at which point you can instantly deposit up to $1000 and up to $50,000 a day for Gold users. It’s clear that for now, Robinhood has kept with the simplicity first model. eToro goes even further, not just letting you transfer money from bank accounts but also from credit cards and even electronic wallets.

Now, we’ve seen their opponents dabble in alternatives – as well as in our eToro vs Robinhood review – but Robinhood’s cash management scheme, which comes with its own debit card, still has a waiting list. As we don’t have an estimated time on that waiting list, this part of our Robinhood vs eToro comparison will have to remain neutral.

Where we don’t have to remain neutral though in this part of our eToro vs Robinhood review is in our payment conclusion, which is that whether you choose eToro or Robinhood, you should have a trustworthy and easy way of adding cash to your account.

Robinhood vs eToro: Customer Service

There were significant differences in the last part of our eToro or Robinhood comparison, but we imagine this section will be quite a bit more similar. Both seem to have the same approach to customer services, which is that they want to provide a Help and FAQ section that’s as good as it can possibly be. That way, the need to contact customer services will be kept as low as it can be to not overload their systems.

The support that’s offered on the platforms through their educational resources is very good on both. Although one is more aimed at newcomers to trading, it’s clear this is an area that – whether you go with eToro or Robinhood – you can expect to be taken seriously. In this part of our eToro vs Robinhood comparison then, we would have to give the edge to the latter. That is down to the strength of Robinhood rather than the weaknesses of eToro though, as Robinhood might be the best we’ve come across in terms of providing an insightful Help section.

Contacting customer service is a backup then, whether you choose eToro or Robinhood, which we suppose is a good indication of their ease of use. eToro takes the slight edge here, with live chat functions and multiple languages, while Robinhood sticks to email and social media.

Robinhood vs eToro: License & Security

Generally, when it comes to these types of comparisons, we’re looking for differences. However, that’s not the case when it comes to security. Whether it’s eToro vs Robinhood, this factor is too important for there to be any flaws. That doesn’t mean there can’t be innovation though. It’s fairly commonplace now but there was a time when fingerprint and face identification, which is available on both, was the stuff of science fiction.

However, safety should always come first – and it does here. Both have serious backing, Robinhood from the likes of FINRA and SIPC, and eToro from CySEC and the FDA. This also reflects their different markets but rest assured, these are serious regulators ensuring that the platforms you are entrusting with your money are legitimate.

In addition, they do all the important checks to protect users against fraud and also to prevent minors from using the site. Encryption is also utilised to keep your data safe. We expected top marks here, and we got it.

Robinhood vs eToro: Spread

The spread of both of these options reflects the kind of audience they are both targeting with their platforms. Both though – whether you go with eToro or Robinhood – are quite versatile. Robinhood, for instance, offers Stocks, ETFs, Options and Cryptocurrencies.

Don’t get us wrong, they don’t have everything an expert platform can offer but really, that is a direction they have gone with in order to streamline their platform for newcomers rather than an oversight on their part. Sure, some people may want more research resources, for instance – even more than their $5 a month Gold fees offer – but that is not their target market.

eToro, on the other hand, does have more variety, with more Cryptocurrencies and Forex. However, it’s important when discussing Robinhood vs eToro to remember those different audiences. They are also clear via the differences in fees and minimums. These are generally absent at Robinhood, while eToro does expect a minimum investment to get involved. This can vary depending on your geography, so do check on the platform itself to find out the specifics for your account.

Once again, this is a part of our eToro vs Robinhood review where each has different strengths. You may be dealing with the same base currency across both, but Robinhood is more approachable, whereas eToro gets ahead in terms of spread variety.

Conclusion: Is Robinhood better or eToro?

It isn’t much of a surprise that there is so much demand when it comes to Robinhood vs eToro. They are both absolutely massive names in the world of financial apps. The latter even has an ad with Alec Baldwin in it, so you just know they are doing absolutely everything to make people focus on them. Robinhood, on the other hand, has been carving itself a reputation as the premier place to come if you’re a newcomer hoping to get involved in the world of trading.

Robinhood has low to no fees, an absolutely world-class app which is designed around a simple interface and a stripped=down trading platform that provides everything they think you need to get started. Meanwhile, we would say that eToro is more suited to people of intermediate experience in trading. That is the key distinction of this Robinhood vs eToro comparison. You may be able to trade cryptocurrencies on both, for instance, but one requires a great deal more of you in terms of minimums.

They are not even in absolutely every factor of our Robinhood vs eToro analysis. Robinhood’s Help section is better, while eToro has more direct contact options, to take one section as an example. We would say, however, that they sit at around the same level of quality, and the question of which is better between eToro or Robinhood should, therefore, be replaced by the question of which is better for you based on your trading needs and experience?

For more great guides, take a look at our best broker for futures and online gold broker guides.

eToro vs Robinhood FAQ

❓Which do we recommend between eToro and Robinhood?

As they are both such huge names in the world of online trading – and with so many people looking to get a more secure financial future – a lot of people are wondering which platform we recommend between eToro and Robinhood. More importantly, do we recommend these platforms for them and their specific investment needs? It’s a complicated question which requires serious thought, so we’ve analysed and compared both across a range of factors, so you can get a better idea of which is right for you.

✅Out of Robinhood and eToro, which is better for beginners?

When it comes to which investment platform is right for you, a huge part of that decision-making process should always be based around your individual financial goals, as well as your level of experience and expertise. The world of trading can be a complicated one, so most people want to go for an app that matches their level of knowledge and experience. That’s why knowing which of the best online brokers in the USA are better for beginners is so important and why this is such a vital factor in our Robinhood and eToro comparison.

📱Do both Robinhood and eToro offer their services on mobile?

There was a time when managing your investments via your mobile phone – with research and data and everything at your disposal – was something that was close to unthinkable. Today though, it’s a lot of people’s preferred way of doing business. That’s why it’s so important to people deciding between Robinhood and eToro to know that they can get everything they need on the go. We understand this, which is why we will be covering their mobile accessibility and much more in our exclusive and comparative analysis of both.

Move to Top
×
Your Bonus Code:
The bonus offer was already opened in an additional window. If not, you can open it also by clicking the following link:
Go to Provider