eToroX review: A Fully-Fledged Trading Platform for Veterans

eToroX is a professional crypto exchange and a subsidiary of eToro Group. It excels as one of the crypto exchanges with an extensive collection of digital assets like cryptocurrencies and stable coins. In addition, it boasts a host of futuristic features and options and is one of the exchanges providing dynamic trading standards in the industry. You can enjoy API trading, credit line trading, and even multiple-order placing here.

You can expect a professional trading experience at eToro. But it is built for the veteran trader with deep knowledge of the industry. On the other hand, corporate and advanced-level traders will find eToro sophisticated, practical, and highly efficient.  

Key Advantages of eToroX

Founded in 2007, the parent company – eToro Group – has been around for over a decade. It diversified to crypto when it launched eToroX trading platform in 2019. If your goal is to trade crypto assets, stablecoins, fiat currencies, and tokenized assets, eTorox can serve your needs well.

Here are some reasons that make eToroX shine: 

Access to Popular Different Markets

You can explore different FX markets to diversify your portfolio. eToroX features 80+ trading pairs.  Also, you can move from one market to another, choosing from the Forex market, crypto market, and commodities.

Access a Professional, Advanced Trading Interface

eToro group has done an excellent job with the layout of the platform. You can tell this by looking at the sophisticated yet accurate charts. Also, the platform has been integrated with numerous futuristic trading features apt for veteran traders.

You’ll have no challenges navigating its all-around interface that features available trading pairs, order book, margin call, open trades, equity, canceled orders, and more.

A Secure and Trusted Platform

With eToroX, you can trade cryptocurrencies through a licensed, secure crypto Exchange. Being a subsidiary of a licensed broker, eTorox complies with the government laws and regulations. In addition, it offers cold storage, secured by military-grade security protocol known as Cars technology.

Also, you trade on eToroX knowing your data and funds are safe, thanks to several protection layers. Security measures include Two-factor authentication and multi-signature technology to secure users’ funds.

Favorable Commissions & Fees

eToroX exchange has fixed Maker and Taker fees, set at 0.05% per trade (the equivalent of 5bps). Also, you pay a small fee for fiat-to-crypto transactions (approximately 1%). For fiat and crypto assets, there is a withdrawal fee. The fee for crypto assets depends on the type of crypto, while for fiat currencies – fees vary depending on the intermediary bank.

Trade-Up to 50 Different Cryptocurrencies and Stablecoins

While eToroX does not have a diversified crypto portfolio, it lists some popular ones in the market. On top of cryptocurrencies, it also deals with trading fiat currencies and tokenized assets. A unique feature of this exchange is the availability of stablecoins. eToroX has developed stable coins for 14 fiat currencies. In addition, it also has stablecoins for gold and silver. 

eToroX Copy-Trading:

Launched in 2010, the copy trading service is the foremost investment opportunity for traders. The copy trading service is where you can subscribe to recent news in the crypto space worldwide. You can stay up-to-date with trading news, copy transactions, etc.

Advanced Order Types:

Another unique feature about eToroX is using particular Advanced Orders types. These advanced order types come with conditions – they execute and close at given pricing. Advanced order types offered at eToroX include IOC, GTC, GTD, and FOK. Also, a trader with a sizeable trade can take advantage of the iceberg orders to conceal their trade. Iceberg orders split your order into small ones for a smooth trading process. If you are an institutional trader, you don’t have to worry about safeguarding your privacy on eToroX – you can maintain a low profile.

API Trading and Credit Line Trading

 API trading allows you to integrate eToroX with third-party applications. For a better trading experience, you can merge several applications to get complete control. Unfortunately, many crypto exchanges lack this strategic feature.

Also, you can take advantage of credit line trading, a premium service that lets you increase your account liquidity. With this option, you can get deep, regulated liquidity, unlike leverage trading. For example, let’s say you deposit the minimum fee of $10K – you’d be eligible to take a credit line of x5, meaning you’d have $50 in your account for trading.

Key Advantages of eToroX

Other benefits include

  • Join a massive community of traders. Get trade signals from over 135,000 strategy providers.
  • Accessible to search database. Conveniently search for copy transactions using search filters or the search bar.
  • Affiliate program: Invite a friend to eToroX to earn $50 as a reward.
  • Convenient deposits and withdrawals. Deposits are free and accept various deposit methods, including crypto, Wire Transfer, and Signet. Also, the deposits are free, just like in eToro.
  • Customized candle charts. Candle charts enable you to analyze the market before you open trades.

Key Downsides of eTorox

While eToro offers a full-fledged trading platform, it has some disadvantages. But the positives outweigh the negatives here.

  • No mobile app yet.
  • Not suited for newbies. Professional traders are better suited for this exchange. The minimum deposit limit is capped at $10K, while $125 is the minimum trade order. 
  • The minimum deposit is $10,000. eToro has high standards for the minimum deposit required because it operates without leverage.
  • eToroX has been denied access to many countries.
  • The application process is lengthy.

How to Get Started with eToroX

First, you need to sign up for an account with eToro so you can link your account to eToroX. But worth noting the two are two distinct platforms. The former is your stop-shop for buying and holding crypto assets, social trading, and exploring FX and stock markets. eToro X is designed to deliver a professional trading experience. As a result, this platform’s available assets are less than the original eToro exchange.

Final Thoughts

If you’re a corporate or advanced-level trader, eTorox will deliver a professional trading experience. In addition, it offers a comprehensive trading suite for a veteran trader who wants to explore FX markets and invest in crypto assets. We only hope the platform will remove restrictions for some countries to welcome more users, plus make it more straightforward to sign-up for an account.