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eToro vs Interactive Brokers
We've conducted an in- depth review of eToro and Interactive Brokers to determine which bone presents the better overall choice and which dealers will profit the most at either broker.
Introduction
eToro offers 25M social dealers its popular personal CopyTrader and CopyPortfolios services and maintains in- house managed thematic investment portfolios. It caters exceptionally well to its core dealer base, and its rearmost adventure is an NFT fund following multitudinous accessions in the cryptocurrency sector. The eToro Academy, eToro plus, and The Bull Club help freshman dealers.
Interactive Brokers presents one of the most competitive core trading surroundings available encyclopedically, with a suite of slice- edge personal results developed for advanced dealers. It supports third- party inventors and algorithmic trading results. freshman dealers will profit from the comprehensive IBKR Lot, one of the highest- quality educational services assiduity-wide.
Account Types
|
|
eToro |
Interactive Brokers |
|
Demo Account |
Yes |
Yes |
|
Demo Account Expiration |
No |
Yes |
|
Account Currencies |
USD |
AUD, EUR, GBP, USD, CAD, CHF, CNY, CZK, HKD, HUF, JPY, MXN, NOK, NZD, RUB, SEK, SGD |
|
Standard Account |
Yes |
Yes |
|
Micro Account |
No |
Yes |
|
Low-cost Account |
No |
Yes |
|
Variable Spread Account |
No |
Yes |
|
Fixed Spread Account |
No |
No |
|
Zero Spread Account |
No |
Yes |
|
ECN Account |
No |
No |
|
Swap Free Account |
No |
Yes |
|
Islamic Account |
Yes |
Yes |
|
Professional Traders Account |
Yes |
Yes |
|
Active Trader Program |
No |
Yes |
Features
eToro is a well- known worldwide fintech incipiency and the leader in the social trading field( following other people’s trades), with over 30 million druggies worldwide.
You can also invest in other products through their platform, which is intuitive and simple to use, making it a good choice for newcomers. Plus, eToro offers commission-free stock trading.
Opening an account and depositing is easy, and you can indeed try it out with virtual plutocrat( a rally account). On the strike, spreads can be high for some products.
Interactive Brokers is a global online broker and intimately listed company which surpassed major fiscal heads, showing adaptability and a rigorous threat operation process.
It offers an advanced investment platform that includes a wide range of products( stocks, options, collective finances, ETFs, futures, bonds, and currencies) from 150 requests.
Newcomers and intermediate investors have educational tools to explore, but the literacy wind will be steep. Interactive Brokers also launched IBKR GlobalTrader, a ultramodern mobile trading app to trade Stocks, Options and ETFs.
Fees and Pricing
|
|
eToro |
Interactive Brokers |
|
Trading Fees |
Yes 0% Commission on stocks Spread Varies |
Yes Spread Varies |
|
Deposit Fees |
No |
No |
|
Withdrawal Fees |
$5 (Bank Transfer) $5 (Credit Cards, eWallets) |
$0 |
|
Overnight Funding |
Yes |
Yes |
|
Inactivity Fee |
Yes $10/month |
Yes $15 |
Trading Platforms
|
|
eToro |
Interactive Brokers |
|
MT4 |
No |
No |
|
MT5 |
No |
No |
|
cTrader |
No |
No |
|
Appropriate platform |
eToro |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Regulation and Security
|
|
eToro |
Interactive Brokers |
|
Regulators |
FCA, CySEC and ASIC. |
FINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS and MNB. |
|
Investor Compensation Scheme (per person, per institution) |
Up to €20,000 for clients under eToro (Europe) Ltd; Up to £85,000 for clients under eToro (UK) Ltd. |
Up to £85,000 for clients under IB U.K. Limited; Up to €20,000 for clients under IB Ireland Limited. |
Pros and Cons
|
|
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 |
Conclusion
In conclusion, both eToro and Interactive Brokers are largely regulated and offer a wide range of trading means. eToro is the stylish player at offering dupe and social trading, while Interactive Brokers offers a wider range of base currencies and a lower spread on forex. Eventually, the choice between eToro and Interactive Brokers will depend on your individual requirements and preferences.
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Risk Warning:
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
Disclaimer:
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.