eToro vs Interactive Brokers - Fees Review included

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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 5.62 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

Regulation

5.0

5

Fees

4.7

4.9

Trading Assets

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 review

Interactive Brokers review

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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

Regulated By: eToro Interactive Brokers

US Regulation

Yes (eToro US)

Yes

FCA (Great Britain)

Yes

Yes

CySec (Cyprus, EU)

Yes

No

ASIC (Australia)

Yes

No

Other Regulators

Seychelles FSA

Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI, reference number C423427), Central Bank of Hungary (Magyar Nemzeti Bank), Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Cboe Australia, Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE, India SEBI Registration No. INZ000217730, Japan - Kanto Local Finance Bureau (Registration No.187) and is a member of Japan Securities Dealers Association and The Commodity Futures Association of Japan, Monetary Authority of Singapore (Licence No. CMS100917)

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

Learn more

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eToro vs Interactive Brokers: Fees

Forex Trading Fees

Fee eToro Interactive Brokers

Standard Account EURUSD Average Spread

1 pip

0.1 pips

Standard Account Fee

$0

0.08 to 0.20 bps times trade size

ECN/STP Account Fee

Not supported

0.08 to 0.20 bps times trade size

ECN Account EUR Average Spread

Not supported

0.1 pips

CFD Trading Fees

Fee eToro Interactive Brokers

CFD Trading Fee

Floating spread

0.05% on all share CFDs

Non-Trading Fees

Fee eToro Interactive Brokers

Account Fee

No

No

Deposit Fee

No

No

Withdrawal Fee

$5

$10 per wire transfer, $1 per BACS/GIRO/ACH/EFT/SEPA

Inactivity Fee

$10 per month after 12 months of inactivity

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

No

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

Learn more

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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 review

Interactive Brokers review

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro vs Interactive Brokers: Deposit and Withdrawal Methods

Deposit and Withdrawal Method eToro Interactive Brokers

Bank Transfer

Yes

Yes

Debit Card

Yes

No

Electronic Wallets

No

No

Crypto

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

E-mail

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

eToro review

Interactive Brokers review

Open an account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

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. 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
Author at Traders Union

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!