Whether you’re just starting out in the trading world or you’re eager to advance your trading journey, you may have come across two popular platforms: eToro and Stake.
Both of these platforms provide great trading tools to enhance your trading experience.
However, if you’re not sure which platform is the best for you, check out my comprehensive comparison below.
In this review, I will compare both platforms and give the verdict on the best option for you.
Table of Contents
What Are eToro & Stake?
eToro is a great online platform for investors who are interested in trading cryptocurrencies.
The platform allows users to invest in various assets and crypto. It also offers a social network where beginners can connect with more experienced investors and learn from their expertise.
On the other hand, Stake is a fintech trading platform that is an excellent choice for investors who want to trade stocks and ETFs at low fees. The platform’s user-friendly design makes it even more appealing for those just starting out in the investment world.
As a trader, you can invest in the following trading options from eToro and Stake.
Multiple Cryptocurrencies: Traders have access to several cryptocurrencies, allowing them to buy and sell crypto based on market prices.
ETFs: For those interested in Exchange-Traded Funds (ETFs), eToro offers many options. These investment funds are traded on the stock exchange.
Stocks: Investors using eToro can engage in stock trading by buying and selling individual stocks from major stock exchanges. This allows you to potentially earn profits through fluctuations in stock prices.
Commodities: Additionally, eToro enables users to trade commodities such as natural gas, oil, silver, and gold.
On the other hand, Stake focuses solely on two investment options:
Exchange-Traded Funds (ETFs): Stake offers investors several ETFs so that users can explore different markets and expand their trading portfolio.
Stocks: Additionally, investors can easily access various stocks and buy and sell shares of companies listed on major stock exchanges.
Account Features & Benefits
- Islamic Account: For those interested in Islamic finance options, eToro provides Islamic accounts that comply with Sharia law. This ensures that your investments align with your ethical and religious beliefs.
- Individual account: By opening an individual account, you’ll have access to a wide range of assets and the opportunity to engage in trading and investment activities.
On the other hand, Stake offers two types of accounts for its users:
- Stake: This is a basic trading account with limited features.
- Stake Black: For $9 per month, this premium plan provides additional features like market trade data.
Fees & Pricing Structure
Let’s take a look at the fees and pricing structures of both platforms:
- Deposits: You can deposit any amount into your eToro account without any additional charges. To trade, you’ll need a minimum trading deposit of $10.
- Withdrawals: When you withdraw the minimum amount from your eToro account ($30), you’ll be charged a $5 withdrawal fee. However, if you are a member of their platinum or diamond club, you won’t have to pay these withdrawal fees.
- Account Inactivity: If your eToro account remains inactive for 12 months, you’ll pay an inactivity fee of $10 each month
Alternatively, Stake also offers these competitive prices:
- $0 deposit fee
- $0 withdrawal fee
- A minimum trading deposit of only $50
- No account inactivity fee
Security & Regulatory Compliance
eToro and Stake are both reputable trading platforms that prioritise the security and protection of their users’ funds.
eToro is regulated by the Financial Conduct Authority in the UK, the Cyprus Securities and Exchange Commission, the Seychelles Financial Services Authority, and the Australian Securities and Investments Commission.
To protect your money from fraud and hackers, eToro implements the following security measures:
- Secure Wallets: eToro promotes the safety of your digital assets by storing cryptocurrencies in secure wallets.
- Secure Socket Layer encryption: This ensures that all your communication and data are encrypted so unauthorised people can’t access it.
- Two-Factor Authentication (2FA): This is a security measure where users provide an additional verification code generated by eToro’s mobile app. This means that you can only use both your password and code to log into your account.
Similarly, Stake is regulated by the Australian Securities and Investment Commission (ASIC) and the UK’s Financial Conduct Authority (FCA).
Stake also offers the following security measures:
- Two-Factor Authentication: Like eToro, Stake uses 2FA for advanced security to ensure your money is safe.
- Face and Touch ID: To further protect your funds from fraud, Stake also implements additional measures such as Face and Touch ID.
eToro offers a Smart Portfolios tool where traders can invest in several assets, such as stocks, EFTs, and cryptocurrencies.
It also offers a CopyTrading tool where beginners can follow and gain knowledge from experienced traders. Lastly, eToro offers a demo portfolio where you can practise trading without risking your money.
On the other hand, Stake offers a fractional trading tool where you can buy portions of a share for a minimum amount of $10 instead of an entire share.
Stake also provides three trading orders: Market order, stop order, and limit order. These orders can help you buy or sell stock at favourable market prices.
eToro provides users with a valuable learning tool known as the eToro Academy. This is a trading school where beginners can analyse the market and the best trading strategies. After mastering these lessons, you can start trading with confidence.
Likewise, Stake offers an informative blog called Stake Academy that is perfect for both beginners and experts. The blog features in-depth articles about trading to keep investors like you updated on the latest market trends.
If you prefer to trade on the go, eToro offers a convenient investment mobile app that is compatible with iOS and Android devices.
With their app, you can trade and monitor your portfolio from your phone.
Similarly, Stake provides a mobile app for both iOS and Android users. Whether you prefer using a smartphone or tablet, simply download the app to start trading.
With its user-friendly interface and easy navigation features, managing your portfolio and conducting transactions will be a breeze.
When it comes to customer support, eToro goes above and beyond by offering multiple options, such as live chat, email assistance, and an extensive knowledge base. Rest assured that their efficient support team will quickly address any of your concerns.
Meanwhile, Stake falls short in its customer service offerings. They do not provide phone or live chat support. However, you can submit an inquiry ticket through their website or mobile app. They are also fast to respond to emails, so I recommend that you use that means to reach them.
Pros & Cons of eToro vs Stake
eToro offers some amazing advantages for traders who choose to use its platform:
- Smart Portfolios: eToro offers users pre-constructed portfolios called Smart Portfolios, where users can invest in different assets.
- Access to Multiple Assets: Investors on eToro can trade stocks, cryptocurrencies, and commodities, which allows for greater diversification in investment choices.
- User-Friendly Interface: eToro’s platform is simple and easy to navigate, making it suitable for beginners and expert traders.
- Social Trading: One of the standout features of eToro is its social trading aspect, where beginners can learn from experienced and successful traders by copying their strategies.
- Regulatory Compliance: You can rest assured that eToro is regulated by financial authorities, and it complies with industry regulations to safeguard your data and provide a secure trading environment.
- Wide Cryptocurrency Selection: eToro provides a diverse range of cryptocurrency options, making it an excellent choice for experienced traders who want to expand their trading capabilities.
However, there are a couple of setbacks to consider when using eToro:
- Withdrawal Fees: The platform charges a $5 withdrawal for each transaction that you make.
- Account Inactivity Fees: If you don’t engage in any trading or transactions on your account for a year, you’ll pay a $10 inactivity fee.
Some of the advantages of using Stake as a trading and investment platform include the following:
- Great Security: Stake prioritises the safety of your investments by providing two-factor authentication and Face ID/Touch verification.
- Fractional Investing: With Stake, you can buy fractional shares in well-established companies like Apple.
- Low Fees: When using Stake, you can trade and invest without worrying about any withdrawal, deposit, or account inactivity fees.
- User-Friendly App: Designed with simplicity in mind, Stake’s app is easily navigable, especially for beginners.
- Stock Filtering: The platform offers a convenient filtering tool to help investors like you discover new ETFs and stocks.
Some of the setbacks of Stake include:
- Limited Educational Resources: Aside from the Stake Academy, the platform doesn’t provide any additional resources for investors.
- Standard Customer Support: Stake’s customer support is sub-standard and doesn’t match the level of service offered by platforms like eToro.
- No Price Alert Feature: Unfortunately, Stake does not offer this feature which can make it difficult for investors to stay updated with market price fluctuations.
- Limited Investment Products: Since Stake only offers ETFs and Stocks as trading options, it’s hard for investors to diversify their investment portfolio.
Alternatives to eToro & Stake
If you’re interested in exploring other options besides eToro and Stake, here are some great choices:
- Freetrade: This trading platform is great for experienced investors who want to focus on the US and UK markets while trading at low fees. One of the highlights of Freetrade is its electronic wallet features and user-friendly mobile platform. The downside is the platform only offers stocks and EFTs as trading options. Read my full Freetrade review.
- Interactive Investor: This popular investment service provider helps investors manage their funds and make smart investment decisions. One of the highlights of Interactive Investor is its watchlist feature, where you can monitor the market and track your investment. The downside of the platform is its monthly fee of £4.99 a month. Read my full interactive investor review.
eToro vs Stake – Final Thoughts
Both eToro and Stake are excellent trading platforms, but after comparing the two, eToro emerges as the superior choice.
Its standout features include a demo account designed for beginners, the availability of cryptocurrency options, and a social trading feature that allows you to connect with experienced traders.
These aspects make eToro the better option for you.