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eToro vs CoinSpot

eToro vs CoinSpot

Adrian Graham
Adrian Graham
Head of Research
Fact Checked
February 21, 2023
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Summary: Our team has conducted an in-depth analysis of these two popular Cryptocurrency exchanges, eToro and CoinSpot, and compared key factors including fees, features, security, support options, and more. We have determined that CoinSpot is the overall better platform for Australian investors as it offers better security and regulation, more features, lower fees and supports multiple AUD deposit methods.

Table of Contents

Best Crypto Exchange for Australian Investors

Platform Highlights

  • Free and instant AUD deposits via PayID, POLi & Bank Transfer.
  • Lowest trading fees in Australia starting at a low 0.1%.
  • Buy and sell over 370 Cryptocurrencies and stake over 20 tokens.
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eToro vs CoinSpot: Features

eToro does not offer a wide range of features on its platform, it offers staking on three Cryptocurrencies, a Copy Trading feature that allows users to mimic the trades of successful eToro users, and a virtual trading platform where users can make trades with paper money to practice trading strategies.

CoinSpot on the other hand offers staking on over 20 Cryptocurrencies, various Bundles (Crypto ETFs), an NFT marketplace with popular projects like Crypto Punks and Azukis, a Crypto Card that allows users to spend any of the 370 Cryptocurrencies supported on CoinSpot, and an OTC Desk for institutional level clients.

Winner: CoinSpot provides a more feature-rich platform and has considerably more staking options.

CoinSpot: Bundles.
CoinSpot: Bundles.

Fees

eToro does not charge any fees to deposit AUD to the exchange but charges a $5 withdrawal fee. The trading fee for Crypto is 1% plus an additional 1% - 2% spread on top of the trading fee.

CoinSpot offers multiple free AUD deposit methods such as PayID, POLi, Direct Deposit, and Osko, and charges a small fee between 0.9% - 2.58% for card, BPAY, and cash deposits. There are zero fees to withdraw AUD from the platform. As for trading fees, Instant Buy orders are 1% and Marker Buy orders are 0.1%, which is Australia's lowest trading fee.

‍Winner: CoinSpot offers significantly lower trading fees than eToro does.

CoinSpot: Fees Schedule.
CoinSpot: Fees Schedule.

Security

eToro is a highly secure exchange and is licensed by ASIC in Australia. It was founded in 2007 and has not once been hacked or had its security penetrated. However it is not currently registered with AUSTRAC

CoinSpot is widely regarded to be the most secure Cryptocurrency exchange in Australia and is the only platform to be awarded the ISO27001 Standard Security Certificate. Additionally, it is both registered with AUSTRAC and licensed with ASIC. It has been operating since 2013 and has never been subject to a cyber attack proving that it is battle tested.

Winner: CoinSpot is considered the most secure and trusted trading platform in Australia.

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Supported Assets

eToro is a multi-asset trading platform that offers investment opportunities in six asset classes including Crypto, Stocks, Indices, Commodities, ETFs and Fiat Currencies. Unfortunately, it only supports 73 Cryptocurrencies to buy and sell but does offer thousands of other assets.

CoinSpot is purely a Cryptocurrency exchange and offers over 370 tokens to buy and sell. It does also offer Gold and Silver through a bullion token.

Winner: eToro has overall more assets and classes, but CoinSpot offers many more Cryptocurrencies.

eToro: Supported Assets.
eToro: Supported Assets.

Customer Support

eToro offers 24/7 customer support via live chat, email, and through various social media platforms which include Facebook, Twitter, Instagram, YouTube & LinkedIn. eToro has a Trust Pilot score of 4.3 stars from 18K reviews, which is considered quite high for an exchange.

CoinSpot also offers 24/7 live customer support via live chat and email but also offers phone support. It is also available on various social media platforms including Facebook, Twitter, Instagram & Reddit. CoinSpot has a Trust Pilot score of 4.4 stars from 1.9K reviews.

Winner: CoinSpot has more customer support options than eToro and also has a higher Trust Pilot rating.

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Mobile App

‍eToro provides a mobile app version of its website that is available to download on both iOS and Android devices. The application offers the same functionality and UI as its web counterpart, apart from staking. It is currently rated 4.3 stars from 2K ratings on the Apple App Store and on the Google Play Store it is rated 4.2 stars from 128K reviews.

CoinSpot's mobile app is also available to Android and Apple users and has the same UI and functionality as its web platform. Users are able to trade, stake, spend and store tokens, as well as buy NFTs and speak with support. On the Apple App Store it has a rating of 4.8 stars from 15K reviews and on the Google Play Store it has a rating of 3.7 stars from 8K reviews.

Winner: CoinSpot's mobile app allows users to access all the same features as its web platform unlike eToro.

CoinSpot Mobile App: iPhone Screenshot.
CoinSpot Mobile App: iPhone Screenshot.

Final Thoughts

CoinSpot is overall the superior platform when compared to eToro as it offers significantly more features, lower fees, more support options, multiple AUD deposit methods, and better security. If you're interested in learning more about this exchange, visit our detailed CoinSpot Review.

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Australian Exchanges

Adrian Graham

Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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