Features

SwyftX doesn’t provide many features but offers spot trading services, Bundles (Crypto ETFs), an OTC desk and SMSF support.

eToro is a feature-rich platform with many offerings, such as cryptocurrency trading and staking, copy trading capabilities, a virtual trading environment, an OTC desk, and CFD contracts with up to 10x leverage.

Winner: eToro has a variety of features to buy, sell, store and stake cryptocurrencies.

Features.

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Pricing

SwyftX is one of the cheaper cryptocurrency exchanges, with a flat trading fee of 0.6% per transaction. Its deposit methods, however, can go up to 7%, but withdrawals are free.

eToro offers free AUD deposits and $5 withdrawals, with a trading (buy/sell) fee of 1% for cryptocurrency. For all other assets, there are zero trading/brokerage fees.

Winner: eToro is the more cost-effective option because they offer free deposits and a trading fee of 1%.

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AUD Deposit Methods

SwyftX supports AUD deposits through several payment options, including Bank Transfers, Osko, POLi, and PayID, without imposing any deposit fees. Additionally, their platform accepts Debit and Credit Card deposits, though users should be aware that a 3.6% fee applies and a potential extra charge of up to 4% from Banxa.

eToro provides over two dozen payment methods, seven catering to deposits in Australian dollars. The exchange accepts AUD deposits through options like POLi, Bank Transfer, Credit Card, Debit Card, Skrill, Neteller, and PayPal.

Winner: eToro offers free and instant AUD payment methods, unlike SwyftX, which charges up to 7% for card deposits.

AUD deposit methods.

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Supported Tokens

SwyftX offers the most diverse range of cryptocurrencies, with over 350 digital assets. It is incredibly quick to list the latest metaverse coins, NFT platforms and growing layer 1s, and it has developed a massive community because of its swift listing speeds.

eToro only offers 80 cryptocurrencies but also supports 3000 other assets, including stocks, indices, fiat currencies, commodities and ETFs. It offers less cryptocurrency than SwyftX but has more overall assets.

Winner: SwyftX has triple the amount of cryptocurrency that eToro has, although eToro offers more assets overall.

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Security

SwyftX is based in Australia and is registered with AUSTRAC and ASIC-licensed, which makes them a highly regulated and secure exchange.

eToro is one of the world's oldest trading platforms, having been founded way back in 2008. In that time, the platform has never had its security breached or been accused of misusing users' assets. It is also regulated and registered with AUSTRAC and ASIC, in addition to 140 other country's regulators.

Winner: eToro is widely considered one of the most trusted and secure cryptocurrency exchanges in the world.

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Customer Service

SwyftX provides customer support through live chat and social media platforms like Facebook and Twitter.

The eToro support staff is accessible through various channels, including live chat, email, online form and social media platforms such as Instagram, Twitter, YouTube, and Facebook. The platform offers support in 18 languages, including English, Spanish, Portuguese and Mandarin.

Winner: eToro’s support team is available to contact through more channels, and it provides multilingual services.

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Conclusion

To conclude, eToro is a superior trading platform to SwyftX for several severals. Firstly, it is significantly more secure and has been around much longer. Secondly, it has a considerably wider range of assets, allowing users to diversify their portfolios. Lastly, it has a user-friendly interface that makes it easy to use for any type of investor. To learn more about eToro, visit our eToro Review.