eToro Fees Versus 3Commas Fees 2020
Etoro structures their fees on a "per transaction" basis. 3Commas, another popular copy-trading platform offers an alternative to eToro. 3Commas structures its fees on based on a monthly subscription.
eToro Fees and Features
eToro charges a per transaction fee or “spread” which differs for each crypto. The range is as high as 4.5% and as low as .75%.
However, they state: “The spreads below are the minimal spreads and are not guaranteed, and will vary according to market conditions and liquidity.”
Which means they could increase or decrease significantly and you would have no control over the amount of the fees.
On a positive note, they have no withdrawal fees. and an account can be opened with as little as $50. The minimum withdrawal amount is also $50.
There are no fees for sending or receiving transactions other than what you would normally occur from the network of the crypto you are using.
There is a 1% fee to convert one crypto to another and a transfer fee for each crypto as well.
eToro provides a lot of bang for your buck. You can automatically copy popular traders by allocating funds to the bot that mirrors those trader’s positions and actions in real time.
The minimum amount to allocate per trader is $200. You can “copy trade” up to 100 traders. The maximum amount you can allocate per trader is $500,000.
If the trader you are copying is successful, you share in his success. However, if he loses on his trades, you lose as well.
You will also be limited to trading one of the fourteen cryptocurrencies that eToro currently offers. This can feel a bit restrictive if you are a more experienced trader looking for additional opportunities.
You can find etoro’s pricing here.
3Commas Fees and Features
3Commas fees are structured into their monthly subscription which starts at $14 for an annual plan. You then have the Pro Plan for $24, and the Advanced Plan for $49.
Again, these prices are for annual purchases. For monthly plans the price increases. They also offer a 3 Day Free Trial of their Pro Platform - no credit card required.
While they are not specifically a “social trading” platform, you can receive trading signals from popular traders on TradingView. You can also create your own trading bots or copy existing popular trading bots.
TradingView signals can be programmed to trigger buy or sell actions by the 3Commas bots.
If you prefer to manually trade, their Smart Trade platform is a sophisticated manual trading tool that lets you set a variety of conditional buys and sells.
If you prefer a conservative trading approach like dollar cost averaging, they have automated trading bots set up to do just that.
You can also configure your own grid bot that will use artificial intelligence to buy and sell a pair, or multiple pairs of a crypto you specify.
eToro and 3Commas both have their strong points. For sheer simplicity and ease of use, eToro is a great choice and in my opinion, worth the fees if you are new to crypto trading.
For more experienced traders, and those maybe coming into the space from Forex trading, 3COMMAS is the way to go. They have an array of sophisticated trading tools that spans over 20 different cryptocurrency exchanges and thousands of crypto pairs.
If you are a higher volume trader, you will definitely be more profitable with 3COMMAS fees than with eToro fees. Since 3COMMAS charges only their monthly subscription price.
You can check out 3COMMAS FREE 3 Day Trail of their Pro Account by clicking below!