de | cn | ru

eToroX Review - is it scam or safe?

eToroX Review - is etorox.com scam or good crypto-exchange?

RATING: 2.7 / 0 REVIEWS eToroX

RECOMMENDED BITCOIN BROKERS


Trading Accounts and Conditions

 

Account type  Min. Deposit Maker fee Taker fee Withdrawal fee
Standard   N/A  0.10% 0.24% 0.00060 BTC

 

Lounched in 2019, eToroX offers trading in different crypto assets on its digital web-based platform.  A wallet service is also available, supporting fiat currencies, and the exchange has very transparent pricing. More importantly, eToroX is regulated as a distributed ledger technology provider in Gibraltar, and is a part of a global group that is very popular in the trading world.

 

 

eToroX Advantages

 

Part of the eToro Group, licensed in Gibraltar

The most serious advantage of this digital exchange is that it is regulated and is also a part of a well-known group in the trading world. eToro, an innovative forex brokerage that is very popular for its copy trading service, holds licenses by some of the most reputable regulators in the world of forex – CySEC in Cyprus, ASIC in Australia and UK’s FCA. That being said, if you are a client of this forex broker, you may also sign in the digital exchange with your eToro account.

 

The crypto arm of eToro we are reviewing, eToro X Limited, is also regulated. It holds a distributed ledger technology (DLT) license issued by the Gibraltar Financial Services Commission (GFSC).

 

Although the crypto regulatory framework in this British overseas territory was recently established, several major exchanges are already regulated there (Huobi, ConFloor). The GFSC requires licensed companies to demonstrate they have adequate financial resources, IT systems, and controls to comply with anti-money laundering and terrorist financing rules. This provides clients of licensed operators with certain guarantees regarding the safety of their funds, and the trustworthiness of the service.

 

Good selection of crypto assets, wallet supports fiat currencies

Although the exchange launched recently, eToroX offers a good selection of crypto assets, which is expected to expand in the future. More specifically, clients of eToroX can trade in BTC, ETH, XRP, LTC, DASH, BCH, as well as a number of the so called “stable coins” – cryptocurrencies that is pegged to a financial asset (e.g. gold - GOLDX, oil - OILX, US dollar - USDX).

 

The wallet service of eToroX supports a number of fiat currencies, so users can deposit directly in EUR and GBP, which is a great advantage. Of course, this includes some conversion fees.

 

Clear presentation of fees, competitive pricing

Another thing we like about eToroX is its transparent pricing policy: the exchange presents all its fees in a very clear and precise way, which is not the case with all crypto exchanges. Furthermore, these fees are competitive.

 

Maker orders which add liquidity to the exchange are charged with 0.10%, and Taker orders that remove liquidity from the order book incur a fee of 0.24%. Besides, eToroX offers rebates for those who trade in high volumes, which are paid out in Ethereum. Here is the rebates scheme:

 

 Click to zoom in.

 

 

eToroX Disadvantages

 

Light-touch regulation

Although eToroX is formally licensed, the regulatory regime in Gibraltar for cryptocurrencies does not involve any strict rules. As the GFSC itself noted, “a flexible, adaptive approach is required in the case of novel business activities, products, and business models.”

 

No leverage available yet

Although it is planning to support leverage of 1:5, currently eToroX does not offer margin trading. This is not unusual in the crypto space, so it is not a major disadvantage, but we decided to mention it nonetheless. Those traders who would like to boost their deals with some leverage, may check out the offers of some forex brokers who offer trading in cryptocurrencies in the form of CFDs.

 

 

>>Brokers offering margin Bitcoin trading<<

 

 

Conclusion

 

eToroX is a newly-launched crypto exchange whose offer seems quite attractive in terms of pricing and digital assets. Besides, it is a part of a group with global presence that is well-established in the trading world, and holds a license issued by the Gibraltar Financial Services Commission.

 

Here is a summary of the strong and weak sides of eToroX:

 

Pros Cons
Part of the eToro Group, licensed in Gibraltar Light-touch regulation
Good selection of crypto assets, wallet supports fiat currencies No leverage available yet
Clear presentation of fees, competitive pricing  

 

Latest news about eToroX
No news about eToroX . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for eToroX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru