ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

eToro vs FXCM 2019

ForexBrokers.com

Is eToro better than FXCM? After assessing forex brokers on nearly 100 different variables, FXCM is better than eToro. While its range of tradeable markets is narrow, FXCM caters well to high-volume traders, algorithmic traders, and traders that appreciate robust charting tools and 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
66% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature eToro FXCM
Trust Score 88 90
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)
Yes No

Tier-2 Licenses

Feature eToro FXCM
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes No
ISA Authorised (Israel)
No Yes
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
No Yes
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
No No

Tier-3 Licenses

Feature eToro FXCM
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature eToro FXCM
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
47 39
CFDs - Total Offered
1449 24
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 Apr -Jun 18)
All-in Cost EUR/USD - Active
N/A 0.8 (as of Nov 18)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 3.5 3.5
Winner check_circle

Funding

Feature eToro FXCM
Minimum Initial Deposit
$200 $0.00
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)
67 51
Charting - Drawing Tools (Total)
14 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 No
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Trading / Copy-Trading
Yes Yes
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
Tutorials/Guide (PDF or Interactive)
No 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
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature eToro FXCM
eToro Review FXCM Review
Overall 4 4
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare eToro vs FXCM.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both eToro and FXCM hold a 3.50 star rating.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. eToro and FXCM both are regulated in a major hub. FXCM is a publicly traded company, while eToro is not. As far as how many currency pairs are available for trading, here's the answer. eToro offers its clients access to 47 different currency pairs while FXCM has 39 available pairs, a difference of 8.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM makes Meta Trader available to clients, while eToro does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, 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 14 charting tools, a difference of 17. eToro boasts an offering of 67 different indicators (for example, moving averages) compared to FXCM's 51 available indicators.

eToro Review
FXCM Review


Trading CFDs, FX, and cryptocurrencies involves 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 02/18/2019 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.

arrow_drop_upBack to top