Written by ForexBrokers.com
In this head to head comparison of IG vs eToro, 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.
IG and eToro are prominent online brokers with distinct backgrounds and regulatory standings. Founded in 1974, IG is a well-established broker that is publicly traded on a stock exchange and also operates as a bank. IG boasts an impressive 99 Trust Score from ForexBrokers.com, reflecting its high level of trustworthiness. The company holds 8 Tier-1 licenses, which are highly trusted, alongside 2 Tier-2 licenses, solidifying its reputation as a secure choice for traders.
In comparison, eToro, established in 2007, is not publicly traded and does not function as a bank. Despite this, it enjoys a strong reputation with a Trust Score of 93 on ForexBrokers.com, indicating a high level of trust. eToro holds 3 Tier-1 licenses and 1 Tier-2 license, providing assurance to its users. While both brokers demonstrate reliability, IG's history and regulatory credentials offer higher peace of mind for clients seeking a well-regulated trading environment.
| Feature |
IG
|
eToro
|
|---|---|---|
| Year Founded | 1974 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees between IG and eToro, IG stands out with its flexible execution methods and competitive pricing for active traders. IG offers attractive pricing through its Forex Direct accounts, catering particularly to large order executions. Its average spread on the main Forex Direct account is about 0.62, with an all-in cost of 0.82 pips in July 2023. Furthermore, IG's active trader rebate program offers professionals potential discounts up to 20% if they transact over significant monthly volumes. IG is rated 5 stars and ranks 8th out of 62 brokers for commissions and fees by ForexBrokers.com.
eToro, on the other hand, operates as a market maker with variable spreads typically around 1 pip on the EUR/USD pairs. While slightly higher than industry averages, eToro is favored by traders for its social copy trading platform rather than purely for its fee structure. eToro offers a VIP club called eToro Club, which provides members with various benefits based on their account balances, including services like discounted withdrawal fees and dedicated account managers. eToro receives a 4.5-star rating and is placed 22nd out of 62 brokers for its commissions and fees according to ForexBrokers.com.
Both brokers offer distinct advantages with IG focusing on extensive options and attractive rebates for high-volume traders, whereas eToro excels in providing a socially-driven trading experience with VIP perks. Traders should consider their priorities, such as trading volume and the importance of social features, when choosing between these brokers.
| Feature |
IG
|
eToro
|
|---|---|---|
| Minimum Deposit | £250.00 | $50-$10,000 |
| Average Spread EUR/USD - Standard | 0.98 | 1 |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and eToro are two prominent choices for online trading, each offering a wide range of investment opportunities tailored to different needs. Both brokers provide the ability to trade forex as CFDs or spot contracts, yet IG stands out with an impressive total of 19,537 tradeable symbols, nearly four times the 5,461 available through eToro. IG also excels in forex pairs, offering 97 compared to eToro's 55. Both platforms ensure access to exchange-traded securities on U.S. and international markets, allowing clients to purchase shares like Apple and Vodafone directly.
When it comes to unique features, eToro sets itself apart with its popular copy trading feature, allowing users to mimic the strategies of experienced traders. Additionally, eToro offers the option to buy actual cryptocurrency, whereas IG only deals in cryptocurrency derivatives. This distinct offering might appeal to investors looking for more direct exposure to the crypto market. Despite these differences, both IG and eToro have been rated five stars for their range of investments. However, IG ranks slightly higher at 4th place in ForexBrokers.com's Range of Investments category, compared to eToro's 10th place, highlighting IG's broader offering.
| Feature |
IG
|
eToro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 5461 |
| Forex Pairs (Total) | 97 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | Yes |
| 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 and tools offered by IG and eToro, both brokers provide free virtual demo accounts, which are ideal for beginners looking to practice before committing real capital. Each platform is proprietary, meaning they have been developed in-house, ensuring a unique trading experience. IG offers versatility with both Windows-based desktop and web browser platforms, while eToro operates solely from a web-based platform. However, eToro stands out with its copy trading feature, allowing users to mimic the trades of successful investors—a feature not available with IG. Additionally, IG supports the MetaTrader 4 platform, adding another layer of flexibility for traders, whereas eToro does not offer MT4 or MT5. Both brokers abstain from platforms like DupliTrade and ZuluTrade.
Charting capabilities differ between the two, with eToro providing a more extensive selection of drawing tools, boasting 161 options compared to IG's 20. While IG allows users to make trades directly from a stock chart, eToro does not provide this functionality. Watch list customization is similar, with IG offering five columns for fields and eToro providing six. In terms of overall ratings, IG excels with a perfect five-star rating for Trading Platforms and Tools and is ranked second among 62 brokers by ForexBrokers.com. eToro also performs well with a 4.5-star rating and holds the eighth position in the same category. Ultimately, your choice may hinge on the importance of features like platform versatility, advanced charting, or social trading functions.
| Feature |
IG
|
eToro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 104 |
| Charting - Drawing Tools (Total) | 20 | 161 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 5 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and eToro offer mobile trading apps for iPhone and Android devices, allowing users to trade on-the-go. Both platforms provide essential features such as stock and forex price alerts and syncing watchlists, ensuring that updates between the mobile app and online accounts are seamless. While eToro boasts an impressive 104 technical studies for chart analysis within their app, IG offers 33, but IG makes up for this with additional functionalities. IG's app allows users to draw trend lines and auto-save these drawings on their charts—features not available on eToro's app. Furthermore, both platforms allow viewing charts across various time frames like daily, weekly, or intraday, and offer the creation of watchlists with real-time quotes.
When it comes to user ratings, IG's mobile app receives a perfect 5-star rating, while eToro's app enjoys a commendable 4.5 stars. This difference in ratings is reflected further in their rankings by ForexBrokers.com, where IG tops the list at number one for mobile trading apps, showcasing its performance and user satisfaction, while eToro holds a respectable position at number ten. These differences highlight IG's focus on providing a more comprehensive toolset for technical analysis and chart customization, making it particularly appealing to traders who prioritize these features.
| Feature |
IG
|
eToro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 104 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IG and eToro in terms of market research offerings, both platforms provide daily market commentary and an economic calendar to keep traders informed. IG stands out by offering forex news from top-tier sources like Bloomberg and Reuters, while eToro does not include such sources. Additionally, IG utilizes research tools from companies like Autochartist and Acuity Trading, whereas eToro relies on Trading Central for technical analysis support. Both platforms provide sentiment-based trading tools and market research from TipRanks.
In terms of overall research rankings, IG receives a stellar 5-star rating and is ranked 2nd among 62 brokers by ForexBrokers.com, highlighting its comprehensive research tools and reliable information flow. On the other hand, eToro, with a respectable 4.5-star research rating, holds the 13th position, suggesting strong yet slightly less extensive research offerings compared to IG. These distinctions mark IG as a top choice for traders seeking in-depth market insights and extensive research resources.
| Feature |
IG
|
eToro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both IG and eToro offer extensive educational resources aimed at helping beginners venture into forex and CFD trading. They each provide a variety of materials, such as articles, videos, and webinars, ensuring newcomers have access to at least 10 educational pieces focused on these trading subjects. Moreover, both brokers host online client webinars monthly, with archives available to access past sessions. Their commitment to educating users is evident in the wealth of resources that cater to different learning preferences.
In addition to foundational tutorials, IG and eToro also offer more advanced educational content for traders looking to deepen their understanding. Both platforms feature at least 10 beginner-friendly and advanced videos that cover a broad range of trading topics. Furthermore, they include an investor dictionary with over 50 term definitions each, helping new traders get acquainted with investing terminology. While IG shines slightly brighter with a 5-star education rating and a #1 rank by ForexBrokers.com, eToro also holds its ground well with a 4.5-star rating and the fifth spot in the rankings, making them both excellent choices for educational resources.
| Feature |
IG
|
eToro
|
|---|---|---|
| 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 |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IG is better than eToro. IG finished with an overall rank of #1, while eToro finished with an overall rank of #9.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
eToro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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While both IG and eToro provide options for trading cryptocurrency derivatives, only eToro allows users to purchase actual cryptocurrencies for delivery, unlike IG.
Both IG and eToro offer convenient methods for fund transfers including ACH, SEPA, PayPal, and major credit cards like Visa and Mastercard, with IG lacking the option for Skrill which is available on eToro, while both platforms also support bank wire transactions.
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 | IG | eToro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | eToro Review |
| Broker Screenshots | IG | eToro | |
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| Regulation | IG | eToro | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1974 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | eToro | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | eToro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | eToro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 5461 | |
| Forex Pairs (Total) | 97 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| 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 | IG | eToro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1 | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | eToro | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $50-$10,000 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | eToro | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | eToro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 6 | |
| Charting - Indicators / Studies (Total) | 33 | 104 | |
| Charting - Drawing Tools (Total) | 20 | 161 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | eToro | |
|---|---|---|---|
| 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 | 33 | 104 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IG | eToro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | eToro | |
|---|---|---|---|
| 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 Pairs | IG | eToro | |
|---|---|---|---|
| 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 | IG Review | eToro Review |
| Overall | IG | eToro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | eToro Review |
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