eToro vs Kraken: Fees, Coins, Safety Comparison
Kraken is one of the largest cryptocurrency exchanges in the world, and eToro is one of the most popular brokers that offer trading shares, currency pairs, and cryptocurrencies. Crypto trading is an important area for eToro, and for this purpose, the broker has launched a special cryptocurrency exchange called eToro. Many traders have questions about which of these two exchanges they should choose to trade digital assets. Traders Union analysts answer these and many other questions below.
Start trading crypto right now with Kraken!
eToro vs. Kraken: Rankings
Kraken is a specialized cryptocurrency exchange, so it has more advantages. However, even though cryptocurrencies are one of the activities of eToro, this broker has advantages in some other aspects. For example, this applies to investment tools, which makes eToro a good option for beginners who are just starting to explore digital assets but immediately want to earn a reasonable return.
For more experienced traders with large volumes, Kraken looks like a more favorable exchange. On this trading platform, there is a wide range of digital assets and more profitable commissions. The more dealers trade, the higher their volumes, and the more profitable it is to trade at Kraken.
| Feature | eToro | Kraken |
|---|---|---|
Overall |
3.9 |
4.5 |
Regulation |
3.5 |
4.6 |
Fees |
2.7 |
3.9 |
Trading assets |
3.2 |
3.9 |
Investment instruments |
4.5 |
3.7 |
Platforms and charting tools |
4.5 |
4.5 |
Deposits and withdrawals |
4 |
4 |
Research |
4.7 |
3.5 |
Education |
4.2 |
4.1 |
Support |
4 |
4 |
Promo |
3.6 |
2 |
eToro vs. Kraken: A Brief Introduction
| eToro | Kraken | |
|---|---|---|
Overall pros |
2 FA authentication |
2 FA authentication |
Low minimum deposit |
Low minimum deposit |
|
Passive income with staking |
Passive income with staking |
|
Indicators and drawing tools |
Regulated in several countries |
|
Copy trading platform |
Minimum maker fee $0 |
|
Fully regulated broker, Regulated crypto exchange |
Over 50 indicators and 16 drawing tools |
|
Overall cons |
Derivatives, NFT, ETF not available |
NFTs are not available |
Not a big choice of supported cryptocurrencies |
||
No bonuses |
||
High fees |
eToro vs Kraken: Regulation and Security
The Kraken cryptocurrency exchange is one of the most regulated in its segment. It is a registered member of FinCEN (USA) and FINTRAC (Canada). The European subdivision is governed by the FCA (United Kingdom), while the Asian subdivision is governed by the FSA (Japan). Kraken also has an AUSTRAC (Australia) license. Licenses of reputable regulators are an important plus for Kraken.
As for eToro, the Forex broker is regulated by the SEC and FINRA. This is good in terms of reputation. However, the eToro crypto exchange operates under a Gibraltar License (FSC). However, eToro’s reputation is good, and this platform has never been hacked.
| Regulator | eToro | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC protection |
No |
No |
Other regulators |
Gibraltar (FSC) |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
eToro vs Kraken: Trading conditions
The trading conditions of Kraken and eToro cryptocurrency exchanges are comparable, although Kraken has a certain advantage. First, it is expressed in the ability to trade with credit leverage. This crypto exchange offers leverage for cryptocurrency futures up to 1:5, which allows traders to increase their potential profits by trading with the same deposit. However, trading with credit leverage carries risks, so you need to apply this tool wisely, respecting the rules of risk management.
| Trading conditions | eToro | Kraken |
|---|---|---|
Minimum deposit |
$50 |
$1 |
Trading platforms |
Web, mobile |
Web, mobile, mobile pro |
1:1 |
1:5 |
|
Number of supported cryptocurrencies |
28 |
151 |
Number of trading accounts |
1 |
1 |
Base account currencies |
USD, EUR, GBP, AUD, crypto |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 151 crypto |
eToro vs Kraken: Trading Assets
Kraken offers a wider range of trading tools than does eToro. Kraken has 151 cryptocurrencies. The list includes both well-known and little-known but promising digital assets. At eToro, the list of cryptocurrencies can be referred to as the base. The choice of trading instruments on this exchange is suitable for beginners who are interested in the most popular cryptocurrencies.
| Asset | eToro | Kraken |
|---|---|---|
Supported coins |
28 |
151 |
Yes |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
No |
No |
|
Yes |
Yes |
|
No |
For non-US traders |
|
No |
Yes |
|
Yes |
Yes |
|
No |
Yes |
|
Yes |
Yes |
|
Yes |
Yes |
|
No |
Yes |
|
Yes |
Yes |
|
No |
Yes |
|
No |
Yes |
|
DeFi Tokens |
Yes |
Yes |
eToro vs Kraken: Fees & Commissions
The platforms have different policies regarding fees and commissions. eToro uses a percentage of the transaction. It is always stable and is added to the spread. The fee is 1% of the amount. Such fees can be considered high though. As for Kraken, the standard model for crypto exchanges is maker/taker. Fees vary depending on the trading volumes. The maker commission can reach 0% if the trader is trading large volumes.
However, eToro offers more favorable terms when buying cryptocurrencies using bank cards. The commission here is lower than that of Kraken. Also, eToro offers better conditions in terms of non-trade commissions, compared to Kraken.
Kraken Fees ReviewСoinbased trading fees
| Fee | Kraken |
|---|---|
Max maker |
0.16% |
Max taker |
0.26% |
Min maker |
0% |
Min taker |
0.1% |
Debit/credit card purchase fee |
3.75% + $0.25 |
eToro’s trading fees
| Fee | eToro |
|---|---|
Trading fee |
1% fee is added to the Bid-Ask spread |
Debit/credit card purchase fee |
1% |
Non-trading fees
| eToro | Kraken | |
|---|---|---|
Account fee |
0% |
0% |
Deposit fee |
0% |
0%-10% |
Bank transfer withdrawal fee |
$5 |
$4–$35 |
Debit/credit card withdrawal fee |
$5 |
3.75% + $0.25 |
Inactivity fee |
0% |
0% |
eToro vs Kraken: Passive income tools
Both Kraken and eToro offer traders the opportunity to earn a passive income through staking. Staking works on a principle similar to a bank deposit. A trader freezes a certain amount of cryptocurrency in his e-wallet. While frozen, he becomes a validator of transactions in the blockchain. For this, he is rewarded with an interest rate, which is calculated for the retention period and paid in altcoins.
One of the key benefits of eToro is the copy trading feature. Traders can copy transactions of more experienced colleagues, and make profits without actively trading.
| Investment tool | eToro | Kraken |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Copy trading |
No |
Best trading platform: eToro vs Kraken
The Kraken and eToro trading platforms have similar features. Mobile and web platforms are available for traders on both exchanges and users can secure their accounts with two-factor authentication. You can use a search bar or filters to find assets of interest to you. Both platforms offer a good selection of graphical tools and indicators for technical analysis. A wide selection of orders is available.
| eToro | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
Platform features
| eToro | Kraken | |
|---|---|---|
SMS-based 2 FA |
No |
No |
App-based 2 FA |
Yes |
Yes |
Voice call 2 FA |
No |
No |
Search bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical analysis and charting tools
| eToro | Kraken | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical trades |
Yes |
Yes |
Live 2 quotes |
Yes |
Yes |
Mobile trading
| eToro | Kraken | |
|---|---|---|
iOS version |
Yes |
Yes |
Android version |
Yes |
Yes |
Apple Watch app |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Type of orders
| eToro | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop loss |
Yes |
Yes |
Stop limit |
Yes |
Yes |
Trailing stop |
No |
No |
Kraken vs eToro: Deposits and withdrawals
Deposits and withdrawals from eToro and Kraken are possible through bank transfers and payment cards. Both platforms accept and withdraw funds to Visa and MasterCard. Direct cryptocurrency replenishment is available. You can use any cryptocurrencies that are supported on these platforms. eToro has the advantage of the possibility of account replenishment and withdrawals through electronic wallets.
| Deposit and withdrawal methods | eToro | Kraken |
|---|---|---|
Bank transfer |
Yes |
Yes |
Credit/debit card |
Yes |
Yes |
Electronic wallets |
Yes |
No |
Cryptos |
Yes |
Yes |
Kraken vs eToro: Research Support
One of the serious disadvantages of Kraken is the lack of analytics. It does not even offer newsfeeds. The conditions at eToro are different because with analytical materials everything is good. In particular, there is a news block and detailed information for fundamental analysis. Another important aspect of eToro is that it is the world’s largest social network of traders. This allows you to get trading ideas from the traders you subscribe to.
| eToro | Kraken | |
|---|---|---|
Newsfeed |
Yes |
No |
Fundamental data |
Yes |
No |
Chart analysis |
No |
No |
Trading ideas |
Yes |
No |
Email reports |
No |
No |
eToro vs Kraken: Education
eToro will be a good option for beginners, thanks to the training options. There is a demo account and a detailed video course that will help novices to learn quickly. There are also additional materials. Kraken also offers training, but it is more heterogeneous. You can find video tutorials and train using webinars.
| Education sources | eToro | Kraken |
|---|---|---|
Demo-account/paper trading |
Yes |
No |
Courses |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
Yes |
Yes |
Books |
No |
No |
eToro vs Kraken: Client Support
The Kraken crypto exchange support service operates in 24/7 mode, and this is a plus compared to eToro. The broker’s support does not work on weekends. Communication is available via telephone, live chat, or email.
| Support features | eToro | Kraken |
|---|---|---|
Workdays |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Kraken vs eToro: Promotions
Best Crypto Sign-Up Bonus Offers and PromotionsNeither Kraken nor eToro offers bonuses to customers, but both platforms allow you to earn with an affiliate program. eToro pays for registration and replenishment, and Kraken calculates the affiliate fee based on the commissions that the invited trader pays for trading.
| Promo | eToro | Kraken |
|---|---|---|
Special offers |
No |
No |
Referral program |
For each new eligible user who joins through a referral link and deposits of at least $100, you and your friend will receive a $30 reward from eToro. |
Kraken pays a 20% commission on trades of referred clients for the entire time that client is trading on Kraken. Up to $1,000 per referral. |
Is eToro or Kraken better for 2024?
Kraken is a specialized cryptocurrency exchange, and its terms are more attractive. eToro is a broker for which cryptocurrency trading is only one of its activities. However, eToro can compete in certain categories.
Kraken is a good option for traders who plan to actively trade cryptocurrencies. More profitable commissions and a wider choice of digital assets open up more opportunities for clients of the exchange. However, eToro offers good analytics, training, and the ability to copy trades. It is important to note that users of eToro can also work with currency pairs, commodities, and stocks, in addition to cryptocurrencies.
Commissions & fees
Kraken’s trade commission policy is more advantageous. It uses the standard maker/taker model. The commission level is generally lower than that of eToro, and there is also the possibility to reduce the maker fees to 0%. However, eToro has better commissions when buying cryptocurrencies directly from a credit card, as well as very attractive non-trade commissions, compared to Kraken.
Security and safety
Kraken has more robust regulation, and the crypto exchange has 5 licenses from regulators from different countries. eToro operates under a license from the offshore jurisdiction of Gibraltar. The reputation of both cryptocurrency exchanges is good.
Which exchange is better for day trading?
Kraken offers a wider range of instruments and more profitable trading commissions. Therefore, this exchange is better suited for day trading.
eToro vs. Kraken: Key features compared
Kraken and eToro are companies with different operating principles. Kraken is a specialized exchange, and its benefits are appropriately tailored. Here is a better trading environment, and a great choice for trading in cryptocurrencies. You can choose from both popular and less popular digital assets. In addition, an important feature of Kraken is reliable regulation.
The key feature of eToro is the availability of the copy trading function. It is a great way to earn passive money. The exchange also offers good analytic capabilities including many tools for technical analysis and many materials for fundamental analysis.
Summary
Kraken and eToro are popular platforms for crypto trading. Each has its advantages and disadvantages, so the choice is individual. eToro will be the best choice for those who are just starting to work with cryptocurrencies, while Kraken is more versatile. However, any of these options are worth considering, and you should choose what suits you best.
Top 5 Kraken Reviews i
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Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
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Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
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Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
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Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
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Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
Top 5 eToro Reviews i
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Comment
I’ve been familiar with the broker eToro for over a year, looking for a platform with extensive features for copy trading and the ability to buy stocks in small lots. The minimum deposit is $50, which is affordable, but spreads start at 1.0 pip — not the lowest in the market. I liked that the broker is regulated by CySEC and FCA, and has over 20 million clients worldwide. During this time, I tried buying fractional shares and investing in cryptocurrencies — the platform makes this quite convenient, although the website can be slow at times. I consider eToro more of a universal platform for passive investing than for frequent trading.
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Comment
The broker offers only one account currency — USD. It supports trading across a wide range of assets, including currencies, stock indices, commodities, and cryptocurrencies. Deposits can be made via cards, Skrill, PayPal, and even YooMoney. Some nuances include a withdrawal fee, an STP model without ECN, and a lack of advanced analytical tools on the website. Despite these aspects, eToro consistently maintains its position in international rankings.
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Comment
eToro is suitable for investors who want to copy successful traders. It offers the Popular Investor feature, where you can earn up to 2% of the copied volume. The platform is fully web-based and mobile-friendly, with a low entry threshold. The downside is the high spreads and a limit of 100 copiers per lead trader. There’s also no option to use expert advisors or algorithms.
-
Comment
I opened an account on eToro with the minimum deposit of $50, and the platform's interface turned out to be convenient, especially in terms of copy trading. The minimum amount for copy trading is only $1, which makes it easy to start. The available instruments include stocks, currencies, commodities, and cryptocurrencies. On the downside, there is no MT4/MT5, and withdrawals cost $5. Also, the number of followers is limited — a maximum of 100 traders can copy one.
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Comment
Been using eToro for full year and here is my impartial review of the broker: Most compatible for trading stocks with its zero-fee structure for securities, but charges high for crypto + high spread for forex Order fulfillment is fast and glitches rarely happen. If they do, their customer service agent will promptly reach out to explain the issue and find a common ground to solve it Great for portfolio diversification with the availability of thousands of tradable assets Simple trading terminal with a number of good features e.g. copy trading, social trading, etc No deposit fee + $5 fee for withdrawals (regardless of the amount) Has a lot of ancillary charges such as inactivity fee, currency conversion fee, and overnight fee
FAQs
Which exchange has the highest liquidity?
The liquidity of the Kraken crypto exchange is higher than on eToro.
Does eToro and Kraken require verification?
Yes, both Kraken and eToro accounts must be verified.
How much capital must I have to start trading?
Both crypto exchanges offer a low entry deposit. However, for successful trading, it is better to start with at least $100–$500.
What are the security features of Binance and eToro?
Both eToro and Kraken have password protection and two-factor authentication.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets. This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost. It is important to read and understand the risks of this investment, which are explained in detail at this link.eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Glossary for novice traders
-
1
Day trading
Day trading involves buying and selling financial assets within the same trading day, with the goal of profiting from short-term price fluctuations, and positions are typically not held overnight.
-
2
Investor
An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.
-
3
Fundamental Analysis
Fundamental analysis is a method or tool that investors use that seeks to determine the intrinsic value of a security by examining economic and financial factors. It considers macroeconomic factors such as the state of the economy and industry conditions.
-
4
Copy trading
Copy trading is an investing tactic where traders replicate the trading strategies of more experienced traders, automatically mirroring their trades in their own accounts to potentially achieve similar results.
-
5
Options trading
Options trading is a financial derivative strategy that involves the buying and selling of options contracts, which give traders the right (but not the obligation) to buy or sell an underlying asset at a specified price, known as the strike price, before or on a predetermined expiration date. There are two main types of options: call options, which allow the holder to buy the underlying asset, and put options, which allow the holder to sell the underlying asset.
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Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Also, Oleg became a member of the National Union of Journalists of Ukraine (membership card No. 4575, international certificate UKR4494).
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).