Key Takeaways: eToro is a global trading and investment platform that allows users to trade a variety of assets, including stocks, cryptocurrencies, ETFs, indices, foreign currencies and commodities. Uphold, on the other hand, is a digital wallet and exchange platform that enables users to buy, hold, convert, and transfer various cryptocurrencies and selected stocks/precious metals.
One key difference between the two platforms is in their offerings: eToro offers more traditional investments such as stocks and commodities, while Uphold primarily focuses on cryptocurrencies. Additionally, eToro offers social trading features where users can copy the trades of successful investors on the platform. Whereas Uphold doesn't offer a variety of useful features.
eToro vs Uphold: Which is the better exchange?
For a quick summary, eToro is the better brokerage platform for a few reasons. The first being that it provides significantly more assets and features compared to Uphold. Secondly, it offers considerably lower fees than most exchanges with free deposits and zero commissions on stocks. Lastly, it is available to use in more countries and the platform can be used in over 30 languages.
eToro is the largest and oldest multi-asset investing and trading platform in the world and has been operating for over 15 years. It has over 25 million users across 140+ countries globally. Furthermore, it has never been hacked during its many years of operation, proving it is battle-tested and secure. If you would like to learn more about eToro, you can visit our eToro Review.
Does eToro offer lower fees than Uphold?
eToro is widely regarded to be the most affordable broker in the world. This is because eToro does not charge any fees to deposit currencies or crypto, and only incurs a small $5 fee for withdrawals. Additionally, it offers commission-free trading on stocks and ETFs, crypto trades have a 1% fee and the only additional cost is a $10 monthly inactivity fee if you don't use the platform for over a year.
Uphold charges significantly higher fees with 4% on card deposits (free for bank transfer), $3 - $5 for withdrawals, 1% - 4% on fiat currency trades, crypto trades, stock trades and precious metal trades (depending on what the asset is) and a 0.75% 'exchange fee' on all transactions. Furthermore, the exchange charges wide spreads on all assets, for a full break down, visit Upholds Fees.
Winner: eToro has the lowest deposit, withdrawal and trading fees globally with free deposits and commission-free trading on stocks & ETFs.
Uphold vs eToro: Features & Assets
eToro not only supports 6 asset classes but it also offers a variety of useful trading features. For example, there's a virtual version of the platform where users can practice trading real markets with virtual money, there's a Copy Trading feature where users can mimic the trades of successful eToro users, plus crypto staking and they have recently added an NFT feature.
Uphold also supports a variety of asset classes including stocks, crypto and precious metals. Unfortunately, it lacks in features but does offer cryptocurrency staking on multiple tokens and Auto-Trading (Dollar Cost Averaging). Besides this, the platform does not provide any other features.
Winner: eToro provides significantly more asset classes to invest in and offers better trading features.
Which platform has better security?
eToro is by far the most secure trading platform globally. The exchange is currently regulated by the following government bodies; the FCA, CySEC, FINRA and ASIC. In addition to regulatory security, eToro has high platform security and has never been subject to a cyber attack in 15 years plus users funds are held in regulated/licensed US banks and are FDIC-insured up to $250,000.
Uphold is only regulated in the US and the UK by FinCEN and the FCA, but is yet to be regulated in Europe, Australasia and Asia. It has implemented a few security measure to ensure customers funds are safe such as 2FA and offline cold-storage. To learn more, visit Upholds Security Page.
Winner: eToro is regulated and licensed to operate in more countries and continents plus it has never been hacked in 15 years of operating.
Do both brokers offer 24/7 customer support?
eToro offers 24/7 customer support via Live Chat, email (email@example.com), phone (1-888-271-8365) and through its online ticketing system. Furthermore, it offers customer support in over 30 languages and users can join one of its online communities including Facebook, Twitter, Instagram, YouTube & LinkedIn.
Winner: eToro provides more contact methods including phone support and its online communities. Plus support is offered in over 30 languages but Uphold only offers support in English.
Can I use eToro and Uphold on mobile?
eToro has a mobile version of its app available to download on both iOS and Android devices. The eToro app offers the same functionality as its web application, users can open trades, check their portfolios, stake cryptocurrencies, access Copy Trading and much more on the go.
Uphold also offers a mobile version of its exchange on mobile that can be downloaded on the Apple app store and the Google Play store. Similar to eToro, the app provides all the same functionality and UI of its web platform. It is rated 4.3 stars on the Apple store and 4.7 stars on the Google Play store, which is higher than eToros ratings.
Winner: Uphold's mobile app is rated higher overall than the eToro app on both the Apple store and Google Play store.
What countries is Uphold and eToro available in
eToro is a global exchange that is currently supported in over 140+ countries, plus the platform can be used in multiple languages including English, Spanish, Italian, German, Russian, Mandarin, French, Arabic, Cantonese, Polish, Dutch, Norwegian, Portuguese, Swedish, Czech, Danish, Vietnamese and Finnish.
Uphold is available to use in 120+ countries and the platform can be used in English, German, French, Italian, Mandarin and Greek.
Winner: eToro is available and regulated in more countries than Uphold and supports a wider variety of languages.