6 Best eToro Alternatives in 2022 (Sites & Apps Like eToro.com)

Last Updated: September 12, 2022
We reviewed various market studies and analyzed plenty of research to create the best eToro alternatives.
Best eToro Alternatives
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The best eToro alternative in 2022, as found in our independent testing, is Pionex!


Perhaps, a decade ago, we may be wondering what cryptocurrencies would become in the future. Even the financial experts were unsure about the success and failure of cryptos in the future.

Based on a survey in 2020, it was found that more than 2000 businesses in the US alone accept cryptocurrency as their payment.

So Yes!, the mighty crypto has set its foot in the investment world, and it’s likely not going anywhere in the next 100 years or so!

The next important question is, where should I invest in cryptocurrency in 2022?

There are more than hundreds of cryptocurrency exchanges globally that offer crypto trades. Each one has its salient features to stand out from the list. 

This article discusses the best alternative cryptocurrency exchanges that can replace eToro, their advantages, Pros, and Cons.

We reviewed various market studies and analyzed plenty of research to create the best eToro alternatives in 2022.

image 101

It is one of the first crypto exchanges that came into existence with the hype of Bitcoin in 2014. Before that, the company was concentrating on Forex trades and other exchanges.

eToro offered social trading(first of its kind) networks and gained favor. Its innovative feature of copying trades of top traders attracted people to the platform.

However, eToro has a complex fee structure and limited official educational and research materials. Also, it has kept central research trading exclusively for its club members. 

Let’s look at the best eToro alternatives to try in 2022.

  1. Pionex – 🏆 Winner!
  2. Uphold
  3. Binance
  4. Poloniex
  5. Coinbase
  6. Coinmama

Best eToro Alternatives in 2022:

1. Pionex

image 102

The first and most popular eToro alternative in 2022 on our list is Pionex. The company was launched in 2019 with unique technology.

It offered advanced trading bots that can control the buying-selling process without much human intervention 24/7.

As technology becomes superior, people have started utilizing analytics based on the data for trading decisions.

Pionex was able to gain more than 100,000 users worldwide, and more than 100 financial experts are helping them secure their crypto trade.

👉 Get Pionex FREE

With Pionex, there is no need to buy or rent bots from other firms as the company offers free and integrated assistance of almost 18 trading bots once you are onboard.

Besides, people can trigger the bots themselves and customize them if needed.

Advantages of using Pionex

Pionex is a fast-growing crypto exchange with more than $30 million market trade volume per day.

It offers custom trading 24/7 with the help of trading bots. There are plenty of merits for using the Pionex crypto exchange.

We shall pinpoint the advantages of using Pionex as an alternative to eToro in 2022. 

  • It provides simulated environments to test new strategies.
  • Trading bots reduce human errors or lags.
  • Rapid trading and transactions are executed faster than individual investors could
  • The trading bots reduce human interaction and the time needed to watch market changes 24/7.
  • Auto bots don’t work based on human Emotions. Trading bots offer emotionless trading based on data.

Cryptocurrencies Available on Pionex

Pionex has a vast space that accommodates more than 250 coins. Some of the most prominent coins on Pionex are:

  • Bitcoin(BTC)
  • Litecoin(LTC)
  • Ethereum(ETH)
  • Uinswap(UNI)
  • Dogecoin(DOGE)
  • USD Coin(USDC) 
  • Tether(USDT)

Pros and Cons of Using Pionex

Pros
  • It is user-friendly.
  • More than 250 cryptocurrency coins are accepted in Pionex.
  • Low trading fees compared with other exchanges(at 0.05%).
  • Pionex has a customizable interface.
  • It supports Money Services Business (MSB) license by US FinCEN.
Cons
  • It doesn’t provide a demo account.
  • Pionex doesn’t offer fiat deposit or withdrawal options.
  • Pionex has withdrawal fees and limits.

2. Uphold

image 103

We recommend Uphold as the second best eToro alternative. Halsey Miner created Uphold in 2015. Uphold offers multi-asset digital money transactions globally.

Uphold has branches in almost all major cities, including Bragg, London, Shanghai, San Francisco, and Newyork(headquarters).

Uphold is considered one of the best beginner applications for crypto trading. It has a simple user interface that lets everyone understand the operations quickly.

Advantages of using Uphold

There are several unique features for Uphold when compared with other crypto exchanges.

Apart from trading crypto, Uphold has options to buy US equities and some precious metals.

We are listing the best advantages of using Uphold as an alternative to eToro in 2022 below:

  • More than 180 countries worldwide support Uphold. It has branches in most US states and has completed over $4 billion in transactions since the beginning.
  • Uphold allows customers to trade across various currencies without demanding the conversion of its assets back to cash. 
  • The crypto exchange platform is a cloud computing-based medium that enables users to transfer and convert cryptocurrencies from other customers anywhere.

Cryptocurrencies Available on Uphold

Uphold is a versatile platform reliable for users. It supports more than 70 digital currencies, emerging tokens, stable coins, and alt-coins.

Now we shall look at the most prominent cryptocurrencies available in the Uphold platform:

  • Bitcoin (BTC)
  • Solana (SOL)
  • Ethereum (ETH)
  • Litecoin (LTC)

Uphold doesn’t support Shiba Inu(SHIBA), Crypto.com (CRO), and Avalanche(AVAX), which are among the list of most major cryptocurrencies in the world.

Pros and Cons of Using Uphold

Pros
  • Uphold has a transparent fee structure.
  • It offers commission-free trading.
  • Cost-effective platform.
  • User-friendly and is highly customizable.
Cons
  • Few assets compared to other crypto platforms.
  • The less organized educational section.
  • High spread fee.
  • The fee structure is complex.

3. Binance

image 104

Binance is one of the best eToro alternative sites right now. It was established in 2017 by Changpeng Zhao in China. Binance has low trading fees compared to other major platforms.

And it has a wide cryptocurrency selection for global customers. The holding company of Binance is located in the Cayman Islands, and it is available in more than 180 countries worldwide.

According to the crypto trading volume stats, Binance is the largest of its kind in the world.

However, due to some regulatory issues, the platform has limited services in the US and is undergoing several investigations.

Advantages of using Binance

Binance has several advantages over eToro and is considered one of the best alternatives for eToro in 2022.

Let’s analyze some of the prominent points that make Binance better than most other crypto exchange platforms.

  • Presence of sophisticated client support
  • Low fee rate and global trading options
  • Binance supports Fiat currencies such as USD, AUD, EUR, GBP, HKD, INR, etc.
  • Binance has various order types: limit order, stop order, stop-market order, stop-limit order, and trailing stop order.
  • There are more than 400 cryptocurrencies available in Binance for trade on its exchange.

Cryptocurrencies Available on Binance

Even though there are more than 400 cryptos on the Binance platform, only 65 are active in the US. Let’s have a look at the top cryptocurrencies offered by Binance.

  • Cosmos (ATOM)
  • Dogecoin (DOGE)
  • VeChain (VET)
  • Litecoin (LTC)
  • Bitcoin (BTC)
  • Ethereum (ETH)

Pros and Cons of Using Binance

Pros
  • Provide various options based on customer location.
  • Binance offers multiple services along with trading.
  • Low fees compared to other competitors.
  • It has an extremely massive coin selection.
Cons
  • The user account verification is complicated.
  • Only 65 cryptocurrencies are available in the US.
  • Binance faces several regulatory issues worldwide.

4. Poloniex

image 105

We suggest the Poloniex platform as one of the best eToro alternatives in 2022. Poloniex was launched in 2014 as a decentralized exchange for cryptocurrencies.

It offers margin trading, crypto lending, etc. The combination of low fee rates and the availability of more than 250 cryptocurrencies makes the platform unique and widely popular.

Poloniex is under Circle, an online payment firm, and its headquarters is in Bermuda.

Even though the company offers a wide range of cryptocurrencies, its service is unavailable in the US due to some security regulatory issues.

Advantages of using Poloniex

Poloniex allows customers to lend crypto and can earn interest from it. Apart from buying and selling cryptocurrencies, let’s check some major Pooniex advantages below:

  • Poloniex offers crypto-to-crypto trading.
  • Low trading fees of Ploniex and a has a collection of more than 250 cryptocurrencies.
  • It allows users to buy crypto with a Visa card, bank account, Apple Pay, or Mastercard.
  • Poloniex offers a spot trading experience for customers who want to trade crypto pairs. 
  • It has a margin trading option for those who want to use leverage.

Cryptocurrencies Available on Poloniex

Poloniex has an extensive collection of more than 250 cryptocurrencies. The most popular cryptocurrencies in the Poloniex platform are the following:

  • Bitcoin (BTC
  • Ripple (XRP)
  • Polkadot (DOT)
  • Shiba Inu (SHIB)
  • Ethereum (ETH)
  • Tron (TRX)

However, certain cryptocurrencies such as Solana (SOL), Fetch.ai (FET), etc., are not supported by Poloniex. 

Pros and Cons of Using Poloniex

Pros
  • It has low fees at any trading volume.
  • Competitive fee structure.
  • More than 250 currencies are supported.
  • It has a large cryptocurrency selection.
Cons
  • Not beginner-friendly.
  • Not available in the US.
  • Poor customer support.
  • Lack of strong security.

5. Coinbase

image 106

Coinbase is one of the top cryptocurrency platforms that can be used as an eToro alternative. The decentralized firm was launched in 2012 as a platform to trade Bitcoin.

Coinbase soon started trading hundreds of cryptocurrencies on its platform and became one of the top US cryptocurrency exchanges. 

The simple and easy-to-use interface of the platform makes it beginner-friendly.

Along with that, Coinbase actively creates educational materials that can help traders understand crypto trading better.

Coinbase has more than forty million users and 115,000 ecosystem partners located in more than 100 countries. Official statistics say Coinbase has more than 2700 employees.

Advantages of using Coinbase

Coinbase exchange allows users to trade more than 100 types of cryptocurrencies and provides plenty of features that can easily help traders analyze the market and investments.

It loads up with amazing features that make it a great choice for any who seeks eToro alternatives.

  • Coinbase has more than 73 million users.
  •  It possesses more than $255 billion in assets.
  • Coinbase Pro for advanced users to access additional features and order types.
  • It offers support for almost 9,000 financial institutions.

Cryptocurrencies Available on Coinbase

Coinbase has more than 130 cryptocurrencies available on its platform. Let’s check the top cryptocurrencies offered on the Coinbase platform.

  • Bitcoin (BTC)
  • Shiba Inu (SHIB)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • Algorand (ALGO)
  • Polkadot (DOT)

Pros and Cons of Using Coinbase

Pros
  • Top-rated mobile app
  • Users can earn free crypto
  • It has a higher liquidity rate.
  • Extremely easy-to-use exchange.
  • Well-designed mobile apps.
Cons
  • It has no control over wallet keys.
  • Complex fee structure.
  • Coinbase features are expensive.

6. Coinmama

image 107

Coinmama is registered as a Slovakian firm with its headquarters in Ireland. It is a simple platform created for crypto-financial services.

The company was launched in 2013 by Laurence Newman, Nimrod Gruber, and Ilan Schuster.

Coinmama has more than 3 million users worldwide, and its service is available in more than 190 countries, including 48 US states.

Coinmama regularly updates its crypto-list and supports alternative payment methods and is a great eToro alternative.

Advantages of using Coinmama

Coinmama, launched in 2013, is one of the first cryptocurrency exchanges that support Bitcoin purchases using debit and credit cards.

Some of the other advantages of using Coinmama over eToro in 2020 are:

  • Coinmama has several payment methods to purchase cryptos, including Faster Payments, Apple Pay, Fedwire, SEPA, SWIFT, and Sofot.
  • Coinmama users can freely insert the exact amount of USD, GBP, EUR, JPY, CAD, AUD, etc., for crypto purchase.

Cryptocurrencies Available on Coinmama

Coinmama support crypto purchase with Fiat money. People can either use Debit or Credit cards.

Some of the top-performing cryptocurrencies available on the platform are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardano’s ADA (ADA)
  • Ethereum Classic (ETC)
  • Bitcoin Cash (BCH)
  • EOS (EOS)
  • Tezos (XTZ)
  • Qtum (QTUM) 

Pros and Cons of Using Coinmama

Pros
  • Coinmama supports the purchase of cryptocurrency with multiple Fiat money.
  • Beginner-friendly.
  • No additional fees for the withdrawal of coins from Coinmama.
  • Fast verification.
  • Coins are delivered within minutes of purchase.
  • High spending limits.
Cons
  • Coinmama has high fees.
  • Compared to some of its peers, the number of cryptos on offer is few.
  • No wallet.
  • Users don’t have the option of being anonymous since Coinmama asks to complete the verification procedure to trade.
  • It has a limited currency selection.

Conclusion

So that’s all for now regarding the best eToro alternatives to try in 2022.

We analyzed the cryptocurrency exchange platform based on several parameters such as cost, fee rates, features, the complexity of usage, trading bots efficiency, etc.

Our findings and detailed insights made us choose Pionex as the best cryptocurrency exchange platform compared to the rest in the market. 

We shall share the key reasons why we picked Pionex as the best cryptocurrency exchange platform:

  • Pionex comes with plenty of security qualities.
  • The Pionex platform offers a wide range of features for trading.
  • Beginner-friendly design that makes trading easier.
  • Presence of integrated and free 18 unique trading bots 
  • Low fees(0.05%), despite the trading volume.

Need further details? Be sure to check out our full Pionex review.

So we hope this article pointed out the best eToro alternatives for you. We recommend you choose the best cryptocurrency exchange platform after carefully analyzing and reviewing it.

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Written by Thomas McGovern

Thomas has over a decade of experience with blockchain and cryptography. He writes regularly for EarthWeb and holds a M.S. in Mathematics.
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