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eToro vs FXCM 2020

Is eToro better than FXCM? After grading the best forex brokers on nearly 100 different variables, FXCM is better than eToro. While its range of tradeable markets is very narrow, FXCM caters well to high-volume traders, algorithmic traders, and traders that appreciate robust trading tools alongside quality market research.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature eToro FXCM
Overall 4 4
eToro Review FXCM Review
75% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature eToro FXCM
Trust Score 91 92
Year Founded
2007 1999
Publicly Traded (Listed)
No Yes
Bank
No No
Tier-1 Licenses
2 3
Tier-2 Licenses
1 2
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature eToro FXCM
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No Yes
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
No No

Investments

Feature eToro FXCM
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
47 39
CFDs - Total Offered
1980 32
Cryptocurrency traded as actual
Yes No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4 3
Winner check_circle

Cost

Feature eToro FXCM
Average Spread EUR/USD - Standard
3 (as of May 19) 1.3 (as of Q2 19)
All-in Cost EUR/USD - Active
N/A 0.7 (as of Q2 19)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 3.5 3.5
Winner check_circle

Funding

Feature eToro FXCM
Minimum Initial Deposit
$200 £300
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature eToro FXCM
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

Trading Tools

Feature eToro FXCM
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
6 7
Charting - Indicators / Studies (Total)
66 51
Charting - Drawing Tools (Total)
13 31
Charting - Trade From Chart
No Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 4.5
Winner check_circle

Mobile Trading

Feature eToro FXCM
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
No Yes
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
5 30
Charting - Draw Trend Lines
No Yes
Charting - Trend Lines Moveable
No Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
No Yes
Mobile Trading 4 4
Winner check_circle

Research

Feature eToro FXCM
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
No Yes
Weekly Webinars
No Yes
AutoChartist
No Yes
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 3 4
Winner check_circle

Education

Feature eToro FXCM
Has Education - Forex
Yes Yes
Has Education - CFDs
No No
Client Webinars
Yes Yes
Client Webinars (Archived)
No Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 4
Winner check_circle

Major Forex Pairs

Feature eToro FXCM
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

Overall

Feature eToro FXCM
eToro Review FXCM Review
Overall 4 4
Winner check_circle
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 eToro vs FXCM.

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. Both eToro and FXCM are rated 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. Both eToro and FXCM are regulated in a major hub. FXCM is a publicly traded company, eToro isn't. How many currency pairs are available to trade? eToro offers its clients access to 47 different currency pairs while FXCM has 39 available pairs, a difference of 8.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. FXCM 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. FXCM offers its clients access to 31 charting tools while eToro has 13 charting tools, a difference of 18. FXCM trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and FXCM offering 51.

eToro Review
FXCM Review


Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/15/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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