eToro vs TD Ameritrade - Fees Review included
Which broker is better eToro or TD Ameritrade? 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 5.6 out of 10. TD Ameritrade is one of the top brokers in the financial market with the TU Overall Score of 4.35 out of 10. Find out more about TU Overall Score.
| Feature | eToro | TD Ameritrade |
|---|---|---|
Overall |
4.8 |
4.7 |
5.0 |
4.9 |
|
4.7 |
4.9 |
|
4.9 |
4.7 |
|
Investment Instruments |
5.0 |
4.1 |
Platforms and Charting Tools |
4.1 |
5 |
Deposit and Withdrawal |
4.5 |
4.1 |
Research |
5 |
4.6 |
Education |
4.3 |
4.3 |
Support |
4.2 |
4.5 |
Bonuses |
1 |
4.3 |
|
|
eToro vs TD Ameritrade: 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.
TD Ameritrade is an American broker that provides top-notch online services for trading and investing in securities on the OTC markets. The company was founded in 1975 under the name First Omaha Securities. It was reimagined as an online broker in 1998. TD Ameritrade is a member of FINRA and SIPC and currently serves over 11 million client accounts. The broker offers simple pricing, high-tech trading platforms with professional analytics, and a wide range of markets and investment products. TD Ameritrade was named Best Online Broker 2020 by StockBrokers.com and ranked first in the Platforms & Tools, Beginners, Education, and Customer Service categories.
| eToro | TD Ameritrade | |
|---|---|---|
| Overall Pros | Mobile app for trading from smartphones | One of the biggest international brokers |
| Highly licensed and regulated broker | The broker offers high-tech author's terminals that work from desktop or mobile device | |
| eToro charges a fixed withdrawal fee of $5 USD | Huge choice of available markets and trading instruments, clients have open access to the securities market, OTC, derivatives trading, and legal work with Forex instruments | |
| The traders have access to the following trading offers: a copy trading service and ready-made portfolios with semi-automatic diversification | The company does not charge fees for trading in American and Canadian stocks, options, and ETFs | |
| The funds of eToro clients are held at the licensed US banks | Low margin rates | |
| The broker's regulators are FINRA, SEC and SIPC, which guarantee the protection of client funds and their return in the event of TD Ameritrade's bankruptcy or other default | ||
| Overall Cons | Customer support can be only contacted by tickets | A high entry threshold has been set for margin trading and investment in managed portfolios |
eToro vs TD Ameritrade: Safety and Regulation
| Regulated By: | eToro | TD Ameritrade |
|---|---|---|
US Regulation |
Yes (eToro US) |
FINRA, SEC, CFTC |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Seychelles FSA |
SIPC protection up to $500.000 The Hong Kong Securities and Futures Commission, and the Monetary Authority of Singapore (MAS). |
eToro vs TD Ameritrade: Trading Conditions
| Trading Conditions | eToro | TD Ameritrade |
|---|---|---|
Minimum Deposit |
$50 |
$1 |
Trading Platforms |
eToro |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Max Leverage (Futures) |
1:30 |
1:2 |
Supported Markets |
Forex, Stocks, Indices, Commodities, Crypto |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Hedge funds |
Trading assets |
1000+ |
18000+ |
Trading Accounts |
Standard, Demo |
Paper Account (Demo), Standard (Cash, Cash and Margin, Cash and Option, Cash, Margin and Option), Retirement (Traditional IRA, Roth IRA, Rollover IRA), Education (529 Plan, Coverdell), Specialty, Managed Portfolios |
Base Account Currencies |
USD |
USD |
eToro vs TD Ameritrade: Fees
Forex Trading Fees
| Fee | eToro | TD Ameritrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1 pip |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | eToro | TD Ameritrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Not supported |
Non-Trading Fees
| Fee | eToro | TD Ameritrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$5 |
$25 per wire transfer, other withdrawal methods - free |
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 TD Ameritrade: Trading Assets
| Asset Name | eToro | TD Ameritrade |
|---|---|---|
Overall |
1000+ |
10000+ |
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 |
Yes |
eToro or TD Ameritrade: Investment Programs
| Asset Name | eToro | TD Ameritrade |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Retirement plans, Bonds, Hedge Funds, Collateral Lending Program |
Trading Platforms: TD Ameritrade or eToro
| eToro | TD Ameritrade | |
|---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
eToro |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Others |
No |
No |
|
|
eToro vs TD Ameritrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | eToro | TD Ameritrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
No |
Electronic Wallets |
No |
No |
Crypto |
No |
Electronic bank deposit (ACH), asset transfer from another brokerage company, by check via mobile app, physical certificates of shares |
eToro vs TD Ameritrade: Research
| Research Type | eToro | TD Ameritrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
eToro vs TD Ameritrade: Education
| Education Type | eToro | TD Ameritrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
TD Ameritrade vs eToro: Support
| Support Features | eToro | TD Ameritrade |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
No |
yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, teletype, fax |
eToro vs TD Ameritrade: Forex Bonuses and Promo
| Promo | eToro | TD Ameritrade |
|---|---|---|
Forex Bonus |
No |
Welcome bonus. When opening a brokerage account using the referral link of an existing client and making a deposit of $50,000, the new client receives from $150 to $1,000 on the balance. The exact amount of the bonus depends on the amount deposited. |
Affiliate Program |
$100-250 per trader |
Referral program. A partner receives $50 for each attracted client who deposited $3,000 within 90 days from the date of opening an account. A partner can link a maximum of 10 friends and family members per day, but no more than 50 referrals per month. Not only a partner but also a referral can get from 150 to $1,000 to the account if they top it up with $50,000 or more. The offer is not available for individual retirement accounts (IRA) or for other accounts that are not taxed. |
Other Promos |
No |
|
|
|
Top 5 Reviews on TD Ameritrade
-
Comment
In Thinkorswim by TD Ameritrade, money is hard to withdraw. I read reviews about Thinkorswim, there are a lot of real complaints about non-output. So I'm not the only one who was thrown in this office. I do not recommend anyone to trade here.
-
Comment
After 3 years, I decided to give TD Ameritrade a second chance, but nothing has changed here. As there were problems with the withdrawal of money, they remained, the commissions only increased. In general, there will be no quality trade here.
-
Comment
I have been trading for real since 2021 with them. Everything suited. In November, I decided to withdraw part of the funds. In general, December is in the yard, but there is no money. Gentlemen, draw your own conclusions.
-
Comment
18.08.2022 made an application, every day for some reason for which funds cannot be transferred. Since 23.08.2022, support has stopped responding altogether. if I had read the comments before, I would never have invested in this pyramid.
-
Comment
Big problem with withdrawals. Three weeks have passed since the withdrawal order was issued, the money is hanging on the deposit, appeals remain unanswered.
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!