eToroX Review – 5 things you should know about etorox.com

eToroX Review – 5 things you should know about etorox.com

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eToroX is the digital asset subsidiary of eToro, one of the lading international forex and CFD brokers with over 10 million registered users. The eToro Wallet, offered by eToroX allows users to buy crypto assets with fiat money directly within the wallet app.

The crypto coins that you can currently buy at eToroX are Bitcoin, Bitcoin Cash, Ripple, Litecoin, Dash and Ethereum, and you can do that using major credit or debit cards like VISA, MasterCard and Cirrus.

For all payment processing eToroX is partnering with Simplex, a licensed financial company.

Good selection of crypto assets

The crypto assets which you can trade at eToroX include 6 major crypto coins – Bitcoin, Bitcoin Cash, Ripple, Litecoin, Dash and Ethereum, and a number of stablecoin tokens, which are basically pegged to major currencies like EUR and USD, as well as silver and gold.

The available crypto pairs are 37 – ETH/BTC, LTC/AUDX, BCH/CADX, XRP/CHFX, XRP/GBPX, BCH/EURX, LTC/EURX, LTC/USDEX, ETH/CHFX, ETH/GBPX, BTC/NZDX, BTC/JPYX, BTC/EURX, BCH/GBPX, LTC/NZDX, XRP/CADX, XRP/EURX, XRP/USDEX, BCH/JPYX, LTC/JPYX, ETH/CADX, ETH/EURX, ETH/USDEX, BTC/AUDX, BTC/GBPX, LTC/CHFX, LTC/CADX, XRP/AUDX, XRP/JPYX, DASH/USDEX, BCH/USDEX, LTC/GBPX, ETH/AUDX, ETH/JPYX, BTC/CADX, BTC/CHFX and BTC/USDEX.

Suitable for active trading

eToroX has a maker-taker, volume-based tiering, where for monthly volumes under 100 000 USD the taker fee is 0,24%, while the maker fee is 0,10%. Both fees are in line with what most other exchanges take, making eToroX suitable for active trading.

But if you trade larger volumes you will enjoy even lower fees – fore monthly volumes of between 100 000 USD and 500 000 USD the taker fee is 0,22% and the maker fee is 0,09%, while for volumes between 500 000 USD and 1 million USD the rates are 0,20% and 0,08%.

And there are three more tiers – between 1 million USD and 5 million USD, with 0,17% and 0,07% fees respectively, between 5 million USD and 10 million USD with fees as low as 0,15% and 0,06%, and over 10 million USD where the taker fee is just 0,12%, while the maker fee drops to 0,03%.

Minimal withdraw fees

eToroX has minimal withdraw fees depending on the coin you are trading with – 0.00060 BTC, 0.01700 ETH or 8.50000 XRP, and there are no deposit fees.

Acceptable wallet fees

As we noted eToroX is an entry level crypto exchange, where you can buy coins with fiat currencies. The Fiat to Crypto Conversion Fees are 1% for eToroX plus 4% for Simplex, where the minimum transaction limit is set at 125 USD.

Blockchain fees are also applied for each crypto transaction and are deducted from the crypto purchased along with the Fiat to Crypto Conversion Fees.
The crypto rate is the actual market rate, determined by eToroX once the transaction is approved by Simplex.

The Crypto-to-Crypto conversion fee taken by eToroX is 0.1% and there are no Send/Receive transaction fees.

A XRP Wallet creation costs 45 XRP.

Licensed in Gibraltar

The eToro Wallet is provided by eToro X Limited, a limited liability company incorporated in Gibraltar and licensed by the Gibraltar Financial Services Commission GFSC under the Investments and Financial Fiduciary Services Act with license number FSC1333B.

In January 2018 GFSC established a set of regulations for distributed ledger technology (DLT), including the rule that the Commission should authorize all businesses working with DLT.

That, together with the reputation of eToro, which is licensed by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC), makes eToroX a reliable partner.

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Reviewed Broker
eToroX
Broker Rating
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