eToro vs Interactive Brokers - Fees Review included
Which broker is better eToro or Interactive Brokers? 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 7.18 out of 10. Interactive Brokers is one of the top brokers in the financial market with the TU Overall Score of 7.45 out of 10. Find out more about TU Overall Score.
| Feature | eToro | Interactive Brokers |
|---|---|---|
Overall |
4.8 |
4.9 |
5.0 |
5 |
|
4.7 |
4.9 |
|
4.9 |
5 |
|
Investment Instruments |
5.0 |
4.2 |
Platforms and Charting Tools |
4.1 |
5 |
Deposit and Withdrawal |
4.5 |
4.1 |
Research |
5 |
4.7 |
Education |
4.3 |
4.5 |
Support |
4.2 |
4.2 |
Bonuses |
1 |
3.1 |
|
|
|
eToro vs Interactive Brokers: 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.
The biggest international broker
| eToro | Interactive Brokers | |
|---|---|---|
| Overall Pros | Mobile app for trading from smartphones | Access to 135 markets in 33 countries |
| Highly licensed and regulated broker | 30.000+ trading instruments | |
| eToro charges a fixed withdrawal fee of $5 USD | Regulated in the US, UK and 8 other countries | |
| The traders have access to the following trading offers: a copy trading service and ready-made portfolios with semi-automatic diversification | Advanced trading platform | |
| The funds of eToro clients are held at the licensed US banks | Free stocks for registration | |
| Low fees | ||
| Low margin rates | ||
| Nasdaq Listed company | ||
| 25 supported account currencies | ||
| Overall Cons | Customer support can be only contacted by tickets | long and complex registration procedure |
eToro vs Interactive Brokers: Safety and Regulation
| eToro | Interactive Brokers | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 |
$500,000 £85,000 |
FCA UK Regulation |
Yes |
Yes |
FINRA (U.S) |
No |
Yes |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
Yes |
Yes |
CFTC (U.S) |
No |
Yes |
MAS |
No |
Yes |
FSCA SA |
No |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
Yes |
No |
eToro vs Interactive Brokers: Trading Conditions
| Trading Conditions | eToro | Interactive Brokers |
|---|---|---|
Minimum Deposit |
$50 |
$0 |
Trading Platforms |
eToro |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Max Leverage (Futures) |
1:30 |
1-50 |
Supported Markets |
Forex, Stocks, Indices, Commodities, Crypto |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Trading assets |
1000+ |
30000+ |
Trading Accounts |
Standard, Demo |
Cash account, margin account |
Base Account Currencies |
USD |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
eToro vs Interactive Brokers: Fees
| eToro | Interactive Brokers | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,3 |
0,2 |
Standard acc. spread EUR/USD, max pips |
1,1 |
0,8 |
ECN Commission |
2 |
|
ECN Spread EUR/USD |
0,2 |
|
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
Yes |
Withdrawal fee, USD |
5 |
Yes |
Inactivity fee, $ |
10 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
eToro vs Interactive Brokers: Trading Assets
| Asset Name | eToro | Interactive Brokers |
|---|---|---|
Overall |
1000+ |
30000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes |
Yes |
Cryptocurrencies |
Yes |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes |
Yes |
ETFs |
Yes |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
No |
Yes |
Binary Options |
No |
No |
eToro or Interactive Brokers: Investment Programs
| Asset Name | eToro | Interactive Brokers |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
Robo-portfolios, hedge funds, Bonds |
Trading Platforms: Interactive Brokers or eToro
| eToro | Interactive Brokers | |
|---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
eToro |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Others |
No |
No |
|
|
|
eToro vs Interactive Brokers: Deposit and Withdrawal Methods
| eToro | Interactive Brokers | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
eToro vs Interactive Brokers: Research
| Research Type | eToro | Interactive Brokers |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
eToro vs Interactive Brokers: Education
| Education Type | eToro | Interactive Brokers |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Interactive Brokers vs eToro: Support
| Support Features | eToro | Interactive Brokers |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Community forum, Software bug reports |
eToro vs Interactive Brokers: Forex Bonuses and Promo
| Promo | eToro | Interactive Brokers |
|---|---|---|
Forex Bonus |
No |
No |
Affiliate Program |
$100-250 per trader |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Other Promos |
No |
|
|
|
|
Is Interactive Brokers or eToro better for beginners?
eToro is significantly more beginner-friendly compared to Interactive Brokers. eToro offers a wide range of features that cater to newcomers in the trading world. One of its standout features is the world's largest social trading network, which can be immensely valuable for beginners. This network allows users to learn from experienced professionals and even replicate the trades of successful traders. This means that beginners can benefit from the expertise of seasoned traders without needing extensive market knowledge.
In terms of the trading platform, eToro's interface is notably more intuitive and user-friendly. The platform is designed with simplicity in mind, making it easier for beginners to navigate and execute trades without feeling overwhelmed.
On the other hand, Interactive Brokers caters more towards professional traders. Its trading platform is known for being more complex and sophisticated, offering a multitude of advanced features and analytical tools. This is beneficial for traders who have a deeper understanding of the markets and want to conduct in-depth analysis.
Is mobile trading better with Interactive Brokers or eToro?
For beginners the eToro trading app is likely to be the better choice due to its user-friendly nature. This app offers a simplified and intuitive interface that makes it easy for users to navigate and engage with the markets. It provides access to a wide range of features that are also available on the web platform, ensuring that users can trade various assets, including stocks, cryptocurrencies, and more. One of the standout features of eToro's app is the ability to copy trades of experienced investors.
On the other hand, the Interactive Brokers trading app is more suited for more advanced traders. While it offers a comprehensive suite of features and tools, it can be somewhat complex and overwhelming, especially for beginners. The app caters to traders who require extensive analytical capabilities and are familiar with the intricacies of the markets.
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. 61% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
"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.