Traders are flocking to Bitcoin in search of digital gold, but the journey can be costly and confusing, with hidden fees and cumbersome interfaces, making it difficult to navigate the market successfully.
eToro makes cryptocurrency trading costs crystal clear. There are no fees buried in the fine print, and an intuitive user interface helps you avoid expensive misclicks.
Be aware of hidden fees
On eToro, trading costs are contained in a single charge. The percentage of the spread for buy and sell is the entire cost of the trade — zero fees, no hidden fees, nothing!
Depositing US dollars on eToro is completely free, and a flat fee of $5 is charged to cover the processing cost of withdrawals. If you are depositing in another currency, an FX conversion fee may apply, but costs are made clear in advance, unlike other platforms that often levy unstated conversion fees.
|Initial investment||$2,000 USD|
|BTC buy price*||$20,000 USD|
|Position size||0.1 units|
|eToro typical spread for BTC||0.75%|
|Total round trip (buy and sell) fees:||$15 USD|
|(0.75% *20,000 USD * 0.1 units)|
To buy and sell 0.1 unit of Bitcoin in a round trip when the price is at $20K, you would pay a single spread fee of 0.75%, or $15 USD.
Most other trading platforms charge a set commission as a percentage of the position size. But high spreads — the difference between the buying and selling price — mean the real cost is higher.
In addition, account maintenance and inactivity fees can be hidden away in the terms and conditions, eating into profits and adding to losses each time you place a trade.
Even depositing funds can cost up to 5%, with traders often paying their card service providers significantly more for the convenience of paying by card, leaving them with a loss before they have even started trading.
When the time comes to withdraw, traders can be hit with more costs, paying super high flat fees to send funds back to a bank…