Written by ForexBrokers.com
In this head to head comparison of eToro vs iFOREX, 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, stands out as a trusted and popular choice for online trading, backed by a Trust Score of 96 according to ForexBrokers.com. This high rating indicates it is highly trusted by traders. eToro's credibility is further supported by its three Tier-1 licenses and one Tier-2 license, helping ensure its users have secure trading experiences. Additionally, eToro is a publicly traded company, adding an extra layer of transparency and accountability to its operations, though it is not a bank.
In contrast, iFOREX, established in 1996, holds a Trust Score of 75, categorizing it as average risk by ForexBrokers.com. With one Tier-1 license and lacking Tier-2 licenses, iFOREX offers a less extensive regulatory footprint. Unlike eToro, iFOREX is not publicly traded and also not a bank, which can affect the perception of openness and reliability for some traders. Taking these factors into account can help individuals make informed decisions between these two online brokers.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Year Founded | 2007 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When it comes to comparing eToro and iFOREX, eToro stands out as a market-maker broker with a typical variable spread of 1 pip on the EUR/USD, which is slightly higher than the industry average. While retail traders might not choose eToro for the most competitive spreads, its value lies in its social copy trading platform. Additionally, eToro offers a VIP Club with five tiers, ranging from Silver to Diamond, providing members with benefits such as access to Trading Central and discounted withdrawal and deposit fees. These perks aim to enhance the trading experience for those maintaining balances between $5,000 and $250,000.
In contrast, iFOREX does not provide average spread data, making it challenging to directly compare its commission structure to eToro. This lack of transparency might be a consideration for traders who prioritize clear fee schedules. While iFOREX offers trading services, it doesn't match eToro's reputation for providing comprehensive membership benefits or detailed spread information.
In terms of ratings, eToro receives an impressive 4.5 stars out of 5 for commissions and fees, ranking it at #22 out of 63 brokers by ForexBrokers.com. On the other hand, iFOREX has a 3-star rating for the same category and is ranked much lower at #61. This significant difference highlights eToro's competitive edge in offering a more favorable fee structure and overall user experience for traders.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| 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 | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 shines as a versatile online broker, offering a wide range of investment options for traders and investors. With 5461 tradeable symbols, eToro provides a vast array of choices compared to iFOREX, which offers 750 symbols. This includes 55 forex pairs at eToro and 88 at iFOREX, but eToro's standout feature is its direct access to U.S. and international exchange-traded securities, enabling users to purchase stocks like Apple and Vodafone. In contrast, iFOREX users can only trade CFDs, as it doesn't offer direct access to exchange-traded securities. Furthermore, eToro supports both actual cryptocurrency purchases and derivatives, enhancing its appeal to crypto enthusiasts, whereas iFOREX is limited to cryptocurrency derivatives.
eToro distinguishes itself further with its innovative copy trading feature, allowing users to mimic successful traders' strategies, a function that iFOREX does not provide. Due to these diverse investment opportunities, eToro has earned a five-star rating for its range of investments, ranking #10 out of 63 brokers according to ForexBrokers.com. Meanwhile, iFOREX holds a 3.5-star rating, positioned at #41 in the same category. For those seeking a wide variety of investments and user-friendly tools, eToro offers a well-rounded platform that caters to both novice and experienced investors.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 750 |
| Forex Pairs (Total) | 55 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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). | 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 the trading platforms of eToro and iFOREX, a few key differences stand out. eToro offers a significant advantage with a free virtual demo account, which allows new traders to practice without any financial risk, while iFOREX does not provide this feature. Both brokers have proprietary platforms that are developed in-house, and each offers a web-based trading experience that can be accessed through a browser, but neither provides a Windows-based desktop application. With eToro, users can enjoy copy trading, a popular feature that iFOREX lacks, as well as extensive charting capabilities that include 161 drawing tools compared to iFOREX's 25.
In terms of direct trading capabilities, iFOREX provides the option to trade directly from a stock chart, whereas eToro does not. When it comes to organizing and monitoring investments, iFOREX's watch lists support up to nine columns of information, while eToro offers six. Despite these differences, eToro generally receives higher ratings in rankings and reviews. It boasts a 4.5-star rating for Trading Platforms and Tools and ranks 8th out of 63 brokers according to ForexBrokers.com, whereas iFOREX holds a 4-star rating and ranks 54th. These insights can help traders decide which platform aligns better with their trading needs and preferences.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 57 |
| Charting - Drawing Tools (Total) | 161 | 25 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
For traders who prioritize mobile accessibility, both eToro and iFOREX offer apps for iPhone and Android devices, yet they differ in several key features. eToro stands out with stock and forex price alerts, while iFOREX lacks this feature. Additionally, eToro offers seamless syncing of watchlists between mobile and online accounts, a capability not available with iFOREX. When it comes to charting tools, eToro provides an impressive array of 104 technical studies, whereas iFOREX does not disclose comparable features. However, neither platform supports drawing trendlines in their apps. eToro also enables viewing stocks and forex in different time frames, unlike iFOREX. Furthermore, only eToro allows users to create watchlists with real-time quotes.
Both eToro and iFOREX have limitations, like not auto-saving drawings on charts. Still, eToro's mobile app earns a higher rating of 4.5 out of 5 stars, compared to iFOREX's 4 stars. With these distinctions, eToro secures the 10th spot out of 63 brokers on ForexBrokers.com for its mobile app, greatly surpassing iFOREX, which ranks at 55th. Overall, eToro's mobile app offers more comprehensive features and a better user experience for those who want to manage their investments effectively on the go.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | N/A |
| Mobile Charting - Draw Trendlines | No | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of eToro and iFOREX, both online brokers provide daily market commentary to keep their users informed. Despite neither platform offering forex news from top-tier sources like Bloomberg or Reuters, they each do integrate technical analysis tools from Trading Central. This allows traders on both platforms access to insightful analysis, enhancing their decision-making capabilities. Additionally, both eToro and iFOREX provide sentiment-based trading tools, displaying ratios of long and short positions, and offer an economic calendar to track worldwide economic events.
However, eToro distinguishes itself by offering research from TipRanks, a feature unavailable with iFOREX. This extra layer of analysis contributes to eToro’s higher research rating of 4.5 stars, compared to iFOREX’s 3.5 stars. In the ForexBrokers.com rankings, eToro stands at #13 out of 63 brokers for research capabilities, which places it well ahead of iFOREX, ranked at #48. This suggests that traders seeking a broader research experience might lean towards eToro for a more comprehensive suite of market insights.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, eToro clearly stands out compared to iFOREX. eToro offers a variety of over ten educational pieces focused on forex or CFDs, including articles, videos, and archived webinars. They provide online educational webinars at least once a month and maintain a searchable archive of these past sessions for easy access. In contrast, iFOREX falls short by not meeting the ten-piece criteria for forex or CFDs education and does not offer monthly webinars or an archive of them. While both brokers provide at least ten educational videos for beginners, eToro goes a step further with advanced educational content tailored for more experienced traders.
eToro enhances its educational offerings with a comprehensive investor dictionary, defining over fifty investing terms, a feature that iFOREX lacks. These extra resources contribute to eToro's higher education rating of 4.5 out of 5 stars, compared to iFOREX's 3.5 stars. This significant difference is also visible in their rankings by ForexBrokers.com, where eToro is positioned as the 5th among 63 brokers in the Education category, while iFOREX is ranked 53rd. This makes eToro a more appealing choice for beginners seeking substantial educational support in their trading journey.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that eToro is better than iFOREX. eToro finished with an overall rank of #9, while iFOREX finished with an overall rank of #52.
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
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 75 |
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eToro allows users to purchase actual cryptocurrencies as well as cryptocurrency derivatives, whereas iFOREX only offers the option to buy cryptocurrency derivatives, not the actual cryptocurrencies.
When comparing online brokers eToro and iFOREX, eToro provides more versatility by offering ACH and SEPA transfers for depositing and withdrawing funds, alongside mutual support for PayPal, Skrill, Visa, Mastercard, and bank wire options available with both platforms.
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 | iFOREX | |
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| Trust Score | 96 | 75 | |
| Winner | check_circle | ||
| Review | eToro Review |
| Broker Screenshots | eToro | iFOREX | |
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| Regulation | eToro | iFOREX | |
|---|---|---|---|
| Trust Score | 96 | 75 | |
| Year Founded | 2007 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 750 | |
| Forex Pairs (Total) | 55 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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). | 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 | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| 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 | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 6 | 9 | |
| Charting - Indicators / Studies (Total) | 104 | 57 | |
| Charting - Drawing Tools (Total) | 161 | 25 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | eToro | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | N/A | |
| Mobile Charting - Draw Trendlines | No | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | No | No |
| Research | eToro | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | eToro | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
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| Trust Score | 96 | 75 | |
| Winner | check_circle | ||
| Review | eToro Review |
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