Written by ForexBrokers.com
In this head to head comparison of eToro vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
eToro, founded in 2007, and FXOpen, established in 2003, both provide online trading services, though their regulatory standings are notably different. eToro has achieved a high level of trust with a ForexBrokers.com Trust Score rating of 93 out of 99, indicating it is highly trusted. The platform holds three Tier-1 licenses and one Tier-2 license, showcasing its strong regulatory backing. In contrast, FXOpen has a Trust Score of 76, which is considered average risk. It holds two Tier-1 licenses without any Tier-2 backing. Neither of these brokers is publicly traded or operates as a bank.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Year Founded | 2007 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
eToro, a market-maker broker, is renowned not for its spreads, which hover around 1 pip on the EUR/USD and are slightly higher than the industry average, but rather for its innovative social copy trading platform. While eToro’s spreads may not compete with the lowest in the industry, they offer a vibrant community for traders looking to mimic successful peers. For those with higher investments, eToro provides a VIP Club called eToro Club, which caters to balances of $5,000 to $250,000. Members can enjoy tiered benefits, from access to Trading Central and discounted withdrawal and deposit fees to having a dedicated account manager. Rated 4.5 stars for commissions and fees, eToro holds the 22nd position out of 62 brokers in this category according to ForexBrokers.com.
FXOpen, in contrast, does not provide average spread data, making it difficult to directly compare their fees with those of eToro. Despite this, FXOpen has carved a niche for itself in the broker market, earning a commendable rating of 4 stars for commissions and fees. According to ForexBrokers.com, FXOpen ranks 45th out of 62 brokers in the Commissions and Fees category. This indicates that, while both brokers are well-regarded, those seeking detailed spread information might gravitate toward eToro, especially if they value social trading features.
In summary, while eToro may attract traders looking for a social trading experience and VIP benefits with a slightly higher spread cost, FXOpen remains a solid choice for those who may prioritize other aspects over explicit spread data transparency. Each broker has its strengths, providing traders with options depending on their priorities and trading styles.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 |
| Average Spread EUR/USD - Standard | 1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
eToro and FXOpen both provide options for forex trading using CFDs and spot contracts, but they differ significantly in the range of investments available to traders. eToro impresses with a broad selection of 5,461 tradeable symbols, including 55 forex pairs. In contrast, FXOpen offers a more limited selection with only 87 tradeable symbols and 25 forex pairs. Additionally, eToro distinguishes itself by enabling users to buy real securities on both U.S. and international exchanges, while FXOpen does not offer this feature.
For those interested in cryptocurrencies, eToro allows the purchase of actual digital currencies along with crypto derivatives, giving users diverse options for cryptocurrency investments. FXOpen, however, only offers cryptocurrency derivatives. Both platforms support copy trading, allowing users to mimic successful trades. Overall, eToro is rated 5 stars for its range of investments and ranks 10th out of 62 brokers, whereas FXOpen holds a 3-star rating and is ranked 61st, reflecting its narrower investment options.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 87 |
| Forex Pairs (Total) | 55 | 25 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing eToro and FXOpen, both offer free virtual demo accounts, allowing users to practice trading without any risk. However, they differ notably in their trading platforms. eToro provides a proprietary web-based platform bringing users a more unique and integrated experience, while FXOpen does not develop its platform but supports popular third-party software like MetaTrader 4 and 5, which is available for Windows downloads. eToro and FXOpen both support web-based trading platforms and offer copy trading, but FXOpen also integrates ZuluTrade for enhanced copy trading flexibility.
In terms of trading tools, eToro shines with an impressive array of 161 drawing tools, whereas FXOpen offers just 15. When it comes to watch lists, FXOpen provides slightly more customization with seven fields compared to eToro's six. FXOpen allows trading directly from stock charts, a feature not available with eToro. Despite these differences, eToro is highly regarded, earning a 4.5-star rating for its platforms and tools, and ranking #8 out of 62 brokers by ForexBrokers.com, whereas FXOpen receives a 4-star rating, placing it at #53. This highlights eToro’s broader appeal and innovative approach for traders seeking a distinctive trading environment.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both eToro and FXOpen offer iPhone and Android apps, ensuring accessibility for users across popular platforms. Traders can receive stock and forex price alerts on both apps, while eToro gives the added benefit of syncing watchlist symbols with the user's online account, a feature missing in FXOpen. For those keen on technical analysis, eToro stands out by providing 104 technical studies within its mobile app charting, compared to FXOpen's offering of 30. However, if drawing trendlines is important to you, FXOpen supports this feature, unlike eToro. Both apps allow for viewing charts across multiple time frames but currently do not auto-save chart drawings.
In terms of real-time engagement, both eToro and FXOpen enable users to create watchlists with real-time quotes. According to user ratings, eToro garners a 4.5-star rating for its Mobile Trading Apps, reflecting a more favorable reception compared to FXOpen’s 4 stars. Furthermore, eToro ranks significantly higher at 10th in the Mobile Trading Apps category on ForexBrokers.com, whereas FXOpen comes in at the 54th spot out of 62 brokers. These ratings and features highlight the subtle yet important distinctions between the two brokers, helping traders to make a more informed choice based on their specific needs.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing eToro and FXOpen for market research offerings, both platforms provide daily market commentary and an economic calendar to keep traders updated on global events. However, eToro distinguishes itself with a broader scope of tools and insights. While both brokers lack Autochartist features, eToro offers technical analysis through Trading Central and access to sentiment-based trading tools, giving users insights into market positions across various instruments. FXOpen, on the other hand, does not offer these specific tools.
Furthermore, eToro users benefit from market research provided by TipRanks, whereas this is absent in FXOpen's offerings. While neither broker provides research tools from Acuity Trading, FXOpen stands out by delivering forex news from top-tier sources like Bloomberg and Reuters, something eToro does not include. In terms of ratings, eToro receives 4.5 stars and ranks #13 in research out of 62 brokers reviewed by ForexBrokers.com, while FXOpen earns 3 stars and ranks last at #62. This comparison highlights eToro as a more comprehensive choice for traders seeking detailed market analysis and insights.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by eToro and FXOpen, eToro stands out as a leader in providing comprehensive learning materials. eToro offers a range of educational articles, videos, and webinars, with at least ten pieces focused specifically on forex and CFDs. Furthermore, eToro conducts regular monthly educational webinars and provides an archive of recorded sessions for convenient access. Alongside beginner-friendly content, eToro also includes a wide selection of advanced videos tailored for seasoned traders. Both brokers offer an investor dictionary with over 50 investing terms, but eToro's robust educational suite earns it a commendable 4.5-star rating for education, ranking it fifth among 62 brokers by ForexBrokers.com.
In contrast, FXOpen's educational resources for beginners are more limited. The broker does not meet the criteria of offering ten or more educational pieces specifically on forex or CFDs. FXOpen lacks regular educational webinars and doesn't provide an archive for past webinars. Additionally, it falls short in offering a substantial number of beginner and advanced educational videos. While FXOpen does provide an investor dictionary similar to eToro, its overall educational offering receives a lower rating of 3 stars and ranks 58th among 62 brokers according to ForexBrokers.com. For beginners looking for extensive educational support, eToro emerges as the more equipped platform.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that eToro is better than FXOpen. eToro finished with an overall rank of #9, while FXOpen finished with an overall rank of #54.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 76 |
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While both eToro and FXOpen provide options for purchasing cryptocurrency derivatives, only eToro offers the ability to buy actual, delivered cryptocurrency, setting it apart from FXOpen's exclusively derivative-based offerings.
In comparing eToro and FXOpen as online brokers, eToro offers more flexible options for account funding and withdrawals, including ACH, SEPA transfers, and PayPal, while both platforms support Skrill, Visa, Mastercard, and bank wires, with FXOpen lacking ACH, SEPA, and PayPal options.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | eToro | FXOpen | |
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| Trust Score | 93 | 76 | |
| Winner | check_circle | ||
| Review | eToro Review |
| Broker Screenshots | eToro | FXOpen | |
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| Regulation | eToro | FXOpen | |
|---|---|---|---|
| Trust Score | 93 | 76 | |
| Year Founded | 2007 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | eToro | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 87 | |
| Forex Pairs (Total) | 55 | 25 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | eToro | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | eToro | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | eToro | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | FXOpen | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | eToro Review |
| Overall | eToro | FXOpen | |
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| Trust Score | 93 | 76 | |
| Winner | check_circle | ||
| Review | eToro Review |
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