eToro vs InstaForex - Fees Review included
Which broker is better eToro or InstaForex? Our expert assessment conducted according to TU’s own methodology showed that eToro is one of the top brokers in the financial market with the TU Overall Score of 5.7 out of 10. InstaForex is one of the top brokers in the financial market with the TU Overall Score of 8.22 out of 10. Find out more about TU Overall Score.
| Feature | eToro | InstaForex |
|---|---|---|
Overall |
4.8 |
4.5 |
5.0 |
4.5 |
|
4.7 |
3.5 |
|
4.9 |
4.6 |
|
Investment Instruments |
5.0 |
4.8 |
Platforms and Charting Tools |
4.1 |
4.4 |
Deposit and Withdrawal |
4.5 |
5 |
Research |
5 |
4.6 |
Education |
4.3 |
4.8 |
Support |
4.2 |
4.7 |
Bonuses |
1 |
5 |
|
|
|
eToro vs InstaForex: Pros and Cons
The eToro broker is a very popular online platform for trading. Founded in 2007, the company operates as a social trading website that works with traders in dozens of countries.
InstaForex is an international company that has been providing services in the Forex currency market since 2007. Today, more than 7 million traders worldwide use the services of this broker. InstaForex offers its clients access to 300 trading instruments, such as PAMM Investment and ForexCopy system to copy trading of successful traders. The company’s activity is regulated by the British Virgin Islands Financial Services Commission (FSC) in accordance with the Securities and Investment Business Act. InstaForex has a reputation for responsible and professional trading practices. In 2016, the company received the UK Forex Best Social Broker Award, in 2018 was named the Best Forex Platform for Trading Cryptocurrency, and in 2019 Best Asian Broker and the Best Eastern European broker.
| eToro | InstaForex | |
|---|---|---|
| Overall Pros | Mobile app for trading from smartphones | Regulated Forex Broker |
| Highly licensed and regulated broker | 2500+ trading assets | |
| eToro charges a fixed withdrawal fee of $5 USD | Individual online training | |
| The traders have access to the following trading offers: a copy trading service and ready-made portfolios with semi-automatic diversification | Advances news and analytitc platforms | |
| The funds of eToro clients are held at the licensed US banks | Free VPS service | |
| High exacution speed | ||
| No deposit and withdrawal fees | ||
| Deposits in crypto | ||
| $1000 No deposit bonus (Only for international entety) | ||
| Overall Cons | Customer support can be only contacted by tickets | High spreads and trading fees |
| Low exacution speed |
eToro vs InstaForex: Safety and Regulation
| Regulated By: | eToro | InstaForex |
|---|---|---|
US Regulation |
Yes (eToro US) |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Seychelles FSA |
FSC (British Virgin Islands) |
eToro vs InstaForex: Trading Conditions
| Trading Conditions | eToro | InstaForex |
|---|---|---|
Minimum Deposit |
$50 |
$1 |
Trading Platforms |
eToro |
MT4, MT5, InstaForex MultiTerminal |
Max Leverage (Futures) |
1:30 |
1:1000, 1:30 (for EU clients) |
Supported Markets |
Forex, Stocks, Indices, Commodities, Crypto |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
1000+ |
2500+ |
Trading Accounts |
Standard, Demo |
Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica for international entity, ECN, ECN PRO, ECN VIP - For EU entity. |
Base Account Currencies |
USD |
EUR, USD |
eToro vs InstaForex: Fees
Forex Trading Fees
| Fee | eToro | InstaForex |
|---|---|---|
Standard Account EURUSD Average Spread |
1 pip |
3 pips |
Standard Account Fee |
$0 |
0.03-0.07% |
ECN/STP Account Fee |
Not supported |
Raw spread (Just for EU Clients) |
ECN Account EUR Average Spread |
Not supported |
Raw spread (Just for EU Clients) |
CFD Trading Fees
| Fee | eToro | InstaForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | eToro | InstaForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$5 |
No |
Inactivity Fee |
$10 per month after 12 months of inactivity |
$10 per month after 12 monthes without trades |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
eToro vs InstaForex: Trading Assets
| Asset Name | eToro | InstaForex |
|---|---|---|
Overall |
1000+ |
2500+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
eToro or InstaForex: Investment Programs
| Asset Name | eToro | InstaForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: InstaForex or eToro
| eToro | InstaForex | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
eToro |
InstaForex |
Others |
No |
No |
|
|
|
eToro vs InstaForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | eToro | InstaForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
Yes |
eToro vs InstaForex: Research
| Research Type | eToro | InstaForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
eToro vs InstaForex: Education
| Education Type | eToro | InstaForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
InstaForex vs eToro: Support
| Support Features | eToro | InstaForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Messendgers |
eToro vs InstaForex: Forex Bonuses and Promo
| Promo | eToro | InstaForex |
|---|---|---|
Forex Bonus |
No |
$1000 no deposit bonus |
Affiliate Program |
$100-250 per trader |
Yes |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on InstaForex
-
Comment
Copying trades on InstaForex is another interesting passive income opportunity I have really been active on after learning about it. I am not saying that all the strategies I copied from the expert traders on the platform resulted in profits but a higher percentage was profitable. To be on a safer end when copying trades, it is important that you evaluate the trader's profile and performance in the market before you choose to compare them. I always assess and evaluate the traders trading history. Check how many days the trader has been trading and total profit and equity. Copy multiple traders to spread your risk and make sure the traders you follow employ a variety of trading techniques. If you would rather close your trades within a 12-hour window or the same day, then follow day traders.
-
Comment
It is important that you closely monitor the market before opening a position if you are trading within a one-day time frame. I use the Bolinger bands, stochastic oscillator, and average directional index and they are on my top indicators list when I choose the 1 day time frame. The average directional index helps me determine a trend momentum and strength, the Bollinger bands help to identify price patterns, and the stochastic oscillator compares the closing price of an instrument to the range of its price over a certain time.
-
Comment
You can immediately access the InstaForex web terminal to start trading. You can login as a client or guest. The guest account is mostly a paper account and it is one of my favorites especially when I want to test a trading strategy. The web terminal is sectioned in a very concise manner. You select between the classic to view the instrument listing and their current prices and can immediately navigate to the charts of the pairs you select by clicking on the chart symbol at the right-hand end of the listed assets. The terminal is arranged so users can identify and know where to be depending on what they want to do atthe moment. So if the MetaTrader platforms might look hectic for you as a new trader, the InstaForexForex terminal can provide with a friendly and colourful interface to trade.
-
Comment
I liked the copy trading service from InstaForex. Perhaps traders who don't have much trading experience expect to make a profit of up to 100 percent, but that's not the case! So I'm very happy to have a return of up to 20 percent per month with this service; these are good overall results.
-
Comment
InstaForex can be considered a reliable broker. I have been trading here for over a year and have withdrawn my profits more than once. There are problems, but not such as to accuse this project of fraud. The platform works almost flawlessly, although slippages and gaps sometimes occur. InstaForex withdraws profits without any problems, but you need to take fees into account.
Top 5 Reviews on eToro
-
Comment
Stability in trading is the most important thing that I note in a broker’s operation. There are a lot of scams now, and finding a good broker is now very difficult. The regulator's license is important, but the company's presence on the market is more important. Entrusting the service to someone who has been operating for many years is the best idea. I have decided on eToro.
-
Comment
eToro is the first broker where I am not bothered with requotes. They haven’t occurred in 3 months even at high activity. It is clear that eToro has a thorough approach to work; the equipment is not cheap.
-
Comment
I started my eToro way back in 2020 to invest in US ETFs which at that time were not very accessible in my location. I checked their website and did a careful research before creating my account because of a number of complaints about their high fees. The website says commission is free, as with other factors which are charged in other platforms such as overnight and custody fees. Cut the story short I created an account with them and purchased one of their ETF products for an expense ratio of 0.03% at the time of sale. I thought this was such a steal price compared to an equity index feeder fund offered by a major bank brand in my area. From my estimation and confirmed by their agent as well (contacted them before posting this review), commissions from my trades averaged 0.09%, with a 0% commission structure on shares. Insanely low! This makes them my favorite platform for trading stocks.
-
Comment
Recently I completed a small experiment to test the performance of eToro and I am happy to share my conclusions. I made sure that the company really operates, quickly executes trades in the market, and withdraws profits. Although the eToro platform is not always perfect, it is still possible to make a profit on it.
-
Comment
I've been searching for a broker for a long time to comfortably trade stocks, and I'm very glad I opened an account with eToro. A big advantage is that trading fractional shares is possible. The commission for traders is no higher than with other brokers, and customer support always responds quickly, and money transfers are fast—I work with a card.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
"Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more"
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!