Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 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. FXCM'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 and FXCM both 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 offers Meta Trader 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 14 charting tools, a difference of 17. eToro offers its clients access to 66 different indicators (for example, volume) while FXCM has 51 available indicators, a difference of 15.
Overall, FXCM takes the upper hand with 4.50 stars over eToro's 4.00 stars. And, when it comes to individual category awards, FXCM was rated Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while eToro was rated Best in Class - Customer Service.