eToroReview

Compare eToro Vs. 24option: What is the Best Broker in 2020?

eToro

eToro is a Fintech company, which has its headquarter in London. The broker has earned a good reputation in Europe and other parts of the world. The main aim of the brokerage firm is to provide online brokerage to its trader but lately, the company has also started adding new services to its offerings.

eToro

24option

24option offers an easy to use trading platform equipped with the latest technology and tools. The platform is designed in such a way that it caters to all types of traders including experienced and novices. It offers a variety of educational materials like webinars, daily news, and many more.

24option

Trading Fees

 eToro24option
Deposit FeesNoNo
Withdrawal FeesYesYes
Fixed SpreadsYesNo
Variable SpreadsNoYes

Supported Platforms

 eToro24option
MetaTrader 4NoYes
MetaTrader 5NoNo
Mobile AppYesYes
AndroidYesYes
iOSYesYes
Web platformYesYes
CTraderNoNo
NinjaTraderNoNo
Mirror TraderNoNo
ZulutradeNoNo

Pros

eToro24option
Experienced and regulated brokerAccessibility of daily financial news
Offers commission-free tradingSpecial bonuses and promotions to the traders
Plenty of cryptocurrencies to tradeGood educational material
Simple to use Copy trading optionsExcellent customer service

Cons

eToro24option
High SpreadsHigh withdrawal and maintenance fees
No direct market accessDemo mode only available after the initial deposit of 250 dollars
Scalping not allowedDoesn’t offer live streaming news
High initial depositDoesn’t accept US traders

Minimum Deposit

 eToro24option
Minimum Deposit$200$250
Maximum Leverage1:4001:400
Minimum Trade$250.01 Lot

Deposit & Withdrawal Methods

eToro24option
Allows deposits to and withdrawals from Debit/Credit cards, Bank wire transfer, e-wallets Skrill, PayPal, Giropay, Yandex, WebMoney, and NetellerSupports credit and debit cards including Mastercard, and Visa, bank wire transfers, and wallets like Sofort, GiroPay, Neteller, Skrill, AstroPay, etc.
Withdrawals via bank wire transfer and Debit/credit cards may take up to 8 business daysWithdrawals via wire transfers may take as long as five business days.

Account Types

 eToro24option
Demo AccountYesYes
Micro AccountYesNo
Islamic AccountYesNo
Zero Spread AccountNoNo
Deposit BonusNoYes
Supported Financial Markets
 eToro24option
Currency Pairs4740
CFDs1096139
StocksYesYes
CryptocurrenciesYesYes
IndicesYesYes
MetalsYesYes
EnergiesYesYes
Education
eToro24option
eToro educates its traders through its blog which is helpful for both novice and experienced traders.Interactive eBook which delivers a visual guide to forex and CFDs.
eToro also keeps updating its video tutorials, guides, and podcasts.Educational videos for all skill levels
There is a separate FAQ section to guide traders.Free webinars for account holders
Conclusion

eToro and 24option both are decent brokerage firms. 24option offers a more comprehensive educational resource while eToro offers a wide range of tradable assets to its traders. A trader can pick any of these brokers according to his needs and trading experience.