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eToro vs FXCM 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is eToro better than FXCM? In our analysis of 23 international regulators across 62 of the best forex brokers, eToro is considered low-risk, with an overall Trust Score of 93 out of 99. FXCM is considered low-risk, with an overall Trust Score of 96 out of 99. Learn more about Trust Score.

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Overall RatingeToroFXCM
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 5/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 93 96
Winner check_circle
Review eToro Review FXCM Review
RegulationeToroFXCM
Trust Score 93 96
Year Founded 2007 1999
Publicly Traded (Listed) No Yes
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 2 3
Tier-2 Licenses 1 3
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)eToroFXCM
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No Yes
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)eToroFXCM
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No Yes
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)eToroFXCM
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentseToroFXCM
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 3458 440
Forex Pairs (Total) 49 41
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 (CFD) 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). 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).
CosteToroFXCM
Average Spread EUR/USD - Standard 1 info 1.38 info
All-in Cost EUR/USD - Active N/A 1.38 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingeToroFXCM
Minimum Deposit $10-$10,000 Starts from $50
PayPal (Deposit/Withdraw) Yes Yes
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformseToroFXCM
Proprietary Platform Yes Yes
Desktop Platform (Windows) No Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) No Yes
MetaTrader 5 (MT5) No No
cTrader No No
DupliTrade No No
ZuluTrade No Yes info
Trading ToolseToroFXCM
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 6 13
Charting - Indicators / Studies (Total) 66 59
Charting - Drawing Tools (Total) 13 10
Charting - Trade From Chart No Yes
Charts can be saved Yes Yes
Mobile TradingeToroFXCM
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes Yes
Mobile Charting - Indicators / Studies 5 59
Mobile Charting - Draw Trendlines No Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No Yes
Forex Calendar No Yes
ResearcheToroFXCM
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) No Yes
Autochartist No Yes
Trading Central (Recognia) Yes Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationeToroFXCM
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes Yes
Investor Dictionary (Glossary) Yes Yes
Major Forex PairseToroFXCM
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 FXCM Review
OveralleToroFXCM
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 5/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 93 96
Winner check_circle
Review eToro Review FXCM Review
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eToro vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs FXCM.

Does eToro or FXCM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, eToro offers better pricing overall for traders.

Is eToro or FXCM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. FXCM holds 3 global Tier-1 licenses, while eToro holds 2. FXCM holds 3 global Tier-2 licenses, while eToro holds 1. In our analysis of 23 international regulators across 50 brokers, FXCM earned a higher Trust Score than eToro.

Which trading platform is better: eToro or FXCM?

To compare the trading platforms of both eToro and FXCM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, FXCM offers superior market research. Finally, we found eToro to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.eToro and FXCM both offer copy trading.

How many forex pairs and CFDs are available to trade?

eToro provides traders 49 currency pairs (e.g., EUR/USD) compared to FXCM's 41 available pairs. Forex pairs aside, eToro offers traders access to 3458 CFDs while FXCM has 440 available CFDs, a difference of 3018.

Can I trust eToro?

eToro is not publicly traded and does not operate a bank. eToro is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the Financial Conduct Authority (FCA).

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

Is eToro good?

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.

Is FXCM good?

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

Overall winner: eToro

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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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