Our ForexBrokers.com team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare Alpari vs eToro.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Alpari's score is 4.00 stars versus eToro's 3.50 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. eToro is regulated in a major hub, Alpari isn't. Neither are publicly traded companies. How many currency pairs are available to trade? eToro trails Alpari by 1 total currency pairs (for example, EUR/USD), with Alpari offering 48 and eToro offering 47.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Alpari makes Meta Trader available to clients, while eToro does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Alpari offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. eToro boasts an offering of 67 different indicators (for example, moving averages) compared to Alpari's 51 available indicators.