eToro vs XTB: Fees
In both cases, fees are generally considered low across the whole platform. The commission broker's take is an important factor that can help you decide which is the best option for you.
eToro doesn’t charge a deposit fee unless you’re topping up your account with something other than US Dollars. Euros, Pounds, or any other currency will suffer from an in-house conversion rate of around 0.4%. As a side note (if your card is not in USD), make sure to make your deposit via bank transfer; otherwise, you might lose up to 1% more of your deposit amount.
On the flip side, XTB has a transparent zero deposit fee no matter the currency you’re transferring to the platform. Make sure you opt for a bank transfer when depositing because the platform might charge you for credit card movements.
When it comes to withdrawal fees, eToro charges a flat 5$ commission. This is a high value when compared to its direct competitors.
XTB, on the other hand, does not set a withdrawal fee above a certain sum that will vary depending on your country of residence. This threshold can be anywhere between $50 and $250. Above this value, you are guaranteed to keep 100% of the amount you withdraw.
Now for the trading fees, you should know that both of these brokers are among the best in the “discount” platforms you can find. While neither charges a fee per se, the broker has a spread commission structure.
eToro usually has 0.7 points spread during peak trading hours for S&P 500 CFD, but the built-in fee for Europe 50 CFD is not so cheap, amounting to 3 points spread during peak trading hours, which is average. For stocks and ETFs, eToro does not charge fees.
Taking the same examples as above, XTB has 0.6 points spread on S&P 500 CFD, which is lower than eToro, and 1.9 points spread on Europe 50 CFD, which is significantly lower than eToro as well. However, XTB also charges fees on stocks and ETFs. A volume-based fee of 0.08% is the standard, but the minimum value equals $8.