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  • by Diego Martinez
  • May 18, 2022
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Etoro vs Alvexo [ Broker Comparison]

 

➔  Advantages and Disadvantages

➔  Regulation

➔  Commissions and Fees

➔  Account Types

➔  Trading Platform

➔  Education

➔  Included and Excluded countries

➔  Financial markets

➔  Customer Service

       •What it offers

➔  Does it has an APP

        •IOS or Android

 

 

Introduction

 

You are probably thinking about investing in the Forex market because of its high popularity but you don't know where exactly. You have probably heard about the Alvexo or Etoro platforms on TV or on the Internet.

Well, it is totally normal, as we are talking about two great brokers that work absolutely fantastic.

However, no matter which one you choose, you won't go wrong as both are very competent and easy to use.

 

Advantages and Disadvantages

 

 

ETORO

ALVEXO

Advantages

●     Excellent protection against cyber-attacks such as hackers.

●     FCA and ASIC regulated.

●     Magnificent advantages in COPY TRADING.

●     Wide range of possibilities in terms of markets and financial products.

●     Minimum initial deposit 0 dollars.

●     It has more experience and seniority in the sector.

●     It has the best trading ROBOTS in the market.

 

Disadvantages

●     They charge commissions for transfers and spreads.

●     Conversion fees.

●     In countries such as the United States, Canada, Japan, Cuba, it is not available.

●     Some spreads charge very high assets

 

●     Not available in the U.S.

 

●     The payment methods they offer are very limited.

 

●     Commissions on ECN accounts are quite high.

 

●     They do not have trading bots

 

 

 

 

 

Regulation

 

Alvexo is a Forex broker belonging to the company VPR Safe Financial Group Limited. It is currently registered on the African continent, more specifically in Seychelles, under the regulation of the Financial Services Authority of this country. The platform was founded in 2014 (although it has been operating since 1993) operating also from Chile with its corresponding license and regulated by the Cysec, thus, allowing it to have another headquarters in the French capital where the large volume of operations are carried out. However, it is in the process of accreditation with the United States to be able to enter its market.

Etoro is a large-scale social trading platform, where more than 4 million users have access to a multitude of financial tools from stocks or currencies to futures or cryptocurrencies. Founded in 2007 in Israel, more specifically in Tel Aviv by a group of local investors among which stand out the brothers Yoni Assia and Ronen Assia, we are talking about a first level multi-regulated broker depending on the country you operate. Authorizing Spanish-speaking fiscal accounts in Argentina, Chile, Colombia, Costa Rica, Ecuador, Mexico, Spain, Colombia, Bolivia, Peru, Dominican Republic and Uruguay, not to mention the licenses it holds in North America.

 

Etoro holds the following licenses:

License 109/10 regulated by the Cyprus Securities and Exchange Commission (CySEC).

License FRN 583263 regulated by the Financial Conduct Authority (FCA) (UK)

(ABN) of 66 612 791 803 and (AFSL) 491139 regulated and authorized by the Australian Securities and Investments Commission (ASIC).

License 31000176049756 regulated by the Financial Crimes Enforcement Network (FinCEN) the USA.

Also on the European continent, eToro works under the strict guidelines emanating from the MiFID Act, created to ensure transparency in the European markets as well as to improve security and consumer protection.

 

 

Commissions and Fees

 

ETORO

ALVEXO

●     Free account opening

●     No commissions on stock investment

●     No management fees

●     No clearing fees

●     Charge $5 on withdrawal of funds.

 

 

In this link, you can consult in more detail their fees: https://www.etoro.com/wp-content/uploads/2022/03/Fees-Etoro-single-pdf-09-03-2022.pdf

●    Free demo account available

●     No commissions are charged on the classic account

●     Withdrawal and deposit rates are not available on their website.

 

 

Account Types

 

TYPES OF ACCOUNTS AT ETORO

 

Etoro has two types of accounts in which your client can work.

 

1. Retail account.

This type of account is suitable for both novice and amateur investors with a minimum initial deposit of about $200. A wide range of financial instruments is available. It is true that the method of leverage is restricted by the possibility of obtaining the protection offered by the Investor Compensation Fund.

In this account, users can work manually or use the copy trading technique. In case the retail investor's balance is negative, his protection is covered from the very first moment the account is opened, as well as the possibility of the margin closing restrictions.

 

2. Professional account

To qualify for this type of account, the platform has certification tests in which it evaluates whether or not you are suitable for this, analyzing your sustainability and if you are really a professional investor.

Professional traders must be aware of certain ESMA protections, such as eligibility to qualify for the Investor Compensation Fund, along with the Financial Ombudsman Service.

These are the requirements you must meet if you want to obtain a professional account on the etoro platform (at least two of the three listed below):

 

1. To have a waller in which we have a capital in excess of $500,000, not including cash or property of any kind.

2. We must always be in possession of an impeccable track record in which eToro's staff can verify and indicate that the account and its operations are of significant size.

3. That the investor has experience in the financial world either with speculation, trading or derivatives.

 

In addition, if you are a professional investor you will have access to leverage of 1:400, facilitating the opening of positions as well as margin rates, the former being increased and the latter reduced.

And what about the negative balance? Well, we can rest assured that eToro will take care of the loss, restoring the trader's equity to 0 for both the professional and retail accounts.

 

However, professional traders are obliged to recognize the risks involved in trading leveraged financial instruments by correctly applying risk management protocols.

 

Demo account

 

EToro also offers its users the possibility to open a demo account to practice in the market in a fictitious way, either for beginner traders who need to improve their skills outside the risks of such a volatile market or for more experienced traders who wish to put their cutting-edge strategies into practice in a simulated financial environment.

Read more about Etoro here!

TYPES OF ACCOUNTS IN ALVEXO

 

If we talk about Alvexo, the user can have 5 different accounts, depending on the objective we have.

 

1. Classic.

As its name suggests, this account is the most basic of the broker, its minimum initial deposit is around 500 euros. Its main financial instruments are indices, commodities and currencies. In this type of account, it is possible to work with trading signals and technical analysis. As for spreads, they start at 3.3 pips.

 

2. Gold.

This is the most popular account among the brokers that use Alvexo, its minimum initial deposit is 5000 euros. The minimum spreads start from 2.2 pips. In addition to the benefits provided by the Classic account, this account has the advantage of analyzing the trading signals via SMS and the daily report on how the market has evolved, as well as the corresponding conclusions.

 

3. Prime.

 Undoubtedly if you already have experience in the sector and your level of knowledge on the subject is high, this is your account. With a minimum initial deposit of 10,000 euros and exit spreads from 1.8 pips, this account offers via e-mail the crucial margin calls for professional traders.

 

4. ECN Gold.

The best that this type of account offers us is undoubtedly the minimum spreads that start from 0 pips, to this we must add the shares and bonuses, however, the investment in our initial deposit will be nothing more and nothing less than about 20,000 euros.

 

5. ECN VIP.

If in your case you have a large amount of money to invest, do not think about it, ECN VIP offers you a spread of 0.0 pips. You will have at your disposal a financial advisor with whom you can consult all your finances via telephone or in-person, as well as margin calls by SMS and the daily market summary. However, we can not indicate the price of this account as it depends on the agreement you reach with the broker. Good luck to you.

 

Do not forget that Alvexo has a free demo account with which you can trade a fictitious capital to practice your trading techniques without any risk.

 

Trading Platform

 

ETORO

Etoro does not have an external trading platform, as everything is done through its website or mobile application. 

It has the ability to trade over 2000 assets on its platform, in fact, it has positioned itself as a leading social trading platform, in addition to its 2000+ assets. It also has a market indicator and access to Procharts, in the menu you will find the available capital, notifications and even screen sharing.

 

This can be used through the app or the eToro website. Being compatible with all major browsers, the application can be obtained through the app store or google play store. 

Once registered you can access the different accounts offered such as the virtual and real accounts.

 

ALVEXO

 This broker offers the following trading platforms:

Metatrader 4: Platform that requires both download and installation, which is one of the most used by investors today. It is very complete in terms of the range of operations offered in Forex and CFD. It also offers effective tools such as advanced price charts in different time frames (1 minute, 15 minutes, 1 hour, 4 hours, 1 day even up to 1 month) technical indicators and various types of orders such as stop loss.

It also gives us the opportunity to create and use automated trading systems (Expert Advisors) based mainly on technical analysis strategies.

 

Alvexo Webtrader: Unlike MT4 this platform does not require installation or download, extending its accessibility simply by accessing the Internet. Based on the Sirix platform, it has functions and tools for the trader such as opening positions, market quotes updated at the moment, as well as several types of advanced price charts or direct linkage with the user's Facebook profile to receive detailed information through it. Finally, it has a social trading option that allows you to make copy trading in real-time, with the help of the best professionals in the sector.

  

Education

 

ETORO EDUCATION

Etoro's website has educational material and tools to improve our finances. If we go to the menu and click on the EDUCATION tab we can find 2 sections:

NEWS AND ANALYSIS: this is a website with continuous updates, which has a multitude of articles related to the financial topic, whether investments, stocks, cryptocurrencies, copy trading and stock market among others. 

ETORO ACADEMY: this academy, despite being a bit limited because it only works in English and French, is open to anyone who wants to access it (whether or not user). It is based on a series of videos divided into:

 

  • How to trade on Etoro?
  • How to trade if I am a beginner on Etoro?
  • How to trade if I am a professional on Etoro?

 

(THE LATTER TWO ARE UNDER DEVELOPMENT)

  

ALVEXO EDUCATION

If you have chosen Alvexo as your broker, you should know that there is a multitude of training materials to improve your trading skills, which the platform offers to both beginners and experienced users.

Alvexo's academy offers cutting-edge topics on the forex markets, as well as blogs, tutorials, articles and analyses.

However, if you are looking to increase your skills and knowledge, we recommend that you access the ADVANCED TRADING STRATEGIES tab.

 

This section, apart from being incredibly effective, has clear and concise information for beginners, as well as other sections that further detail the subject, being similar to the FAQ batteries of other brokerage platforms.

 

We have only mentioned 2 sections here, but the research tab has all of the following:

  • Market updates
  • Trading signals
  • Economic Calendar
  • Trading calculators
  • Blogs
  • New additions

 

 

Included and Excluded countries

 

 

ETORO

ALVEXO

Countries included

Mexico.

Colombia

Argentina

Spain. Limited by ESMA

Peru

Chile

Ecuador

Bolivia

Dominican Republic

Honduras

 

Other countries not mentioned in the paragraph below
Excluded countriesThe remaining countries and Americans not residing in the U.S.

Australia

Belgium

Canada

Iran

Japan

North Korea

Yemen

United States.

United States

 

 

 

Financial markets

 

ETORO

 Etoro has a wide variety of financial markets, which you can manage from a single portfolio:

  • Stocks, of which you have more than 2800 to choose from.
  • Currencies, with 49 different currencies
  • Cryptocurrencies, more than 63 available
  • With 13 indexes
  • Commodities 32 different
  • And with more than 264 ETFs

 

ALVEXO

Alvexo has different varieties in the financial market:

  • It offers more than 58 currency pairs.
  • CFD index trading, including DAX and FTSE.
  • It has the ability to buy and sell large stocks on the European and US stock exchanges.
  • The trading platform has different commodity assets.
  • It also has a very wide range of cryptocurrencies.

 

 

Customer Service

 

CUSTOMER SERVICES

If you ever have a problem with your brokerage account, you should make use of the customer service, a service that the broker in question must offer with quality, because when it comes to incidents, we want a fast and efficient response.

 

ETORO CUSTOMER SERVICE

On this platform, we can find 3 different ways to contact the broker.

The current methods of communication are online customer service, either through the Customer Service Center and the Live Chat. Before accessing the aforementioned, we have a battery of common questions on the platform, which will probably solve our query.

The customer service centre has an open ticket system, which can be a bit slow, on the other hand, the live chat will open a tab where we will establish a conversation with an operator in the desired language, asking us at the end of this that we value the attention provided.

 

ALVEXO CUSTOMER SERVICE

Currently, Alvexo only offers 2 types of communication, either through email through the website, in its CONTACT US tab, where you will also find the method of telephone service if it is true that they have more than 10 contact numbers from different countries but with a shorter schedule being this from Monday to Friday from 9 am to 6 am.

It should be noted that the live chat option is available as long as the queries are urgent.

 

 

Does it has an APP?

 Etoro has an application available for IOS and Android devices that is very intuitive and easy to use. It has all the tools that you can find on the online platform; as its website indicates:

 

  • Invest in stocks (Apple, Nike, Facebook, BP, Nintendo).
  • Invest in currencies (USD, EUR, GBP)
  • Invest in cryptocurrencies (Bitcoin, Ethereum)
  • Investing in indices (NASDAQ, FTSE, DAX)
  • Investing in commodities (oil, gold, silver, silver, copper)
  • Investing in ETFs (DIA, FXI, GDX)
  • Invest in eToro's next-generation investment product: investment strategies with CopyPortfolios™.
  • Choose the best investors to copy and allow them to manage your funds
  • Receive real-time notifications about events happening in the markets.

 

Alvexo also has a very intuitive and highly-rated app, it is free and has a very good interface, just like its online platform. It is available for Android and iOS. In the app you can find: 

  • Trading indexes.
  • Trade a wide variety of currency pairs and tangible assets.
  • You can buy and sell CFDs on stocks, indices or commodities of major stock markets.
  • Multilingual interface and 24/5 support in English, French, German, Italian, Italian and Arabic
  • Provides access to more than 500 assets

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