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 IG Group.
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. IG Group received a rating of 4.50 stars over 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 IG Group both are regulated in a major hub. IG Group is a publicly traded company, while eToro is not. How many currency pairs are available to trade? IG Group offers its clients access to 91 different currency pairs while eToro has 47 available pairs, a difference of 44.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. IG Group 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. eToro trails IG Group by 17 total charting tools, with IG Group offering 31 and eToro offering 14. eToro offers its clients access to 66 different indicators (for example, volume) while IG Group has 51 available indicators, a difference of 15.
Overall, IG Group takes the upper hand with 5.00 stars over eToro's 4.00 stars. And, when it comes to individual category awards, IG Group posted awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education in 2018, while eToro found itself with Best in Class - Customer Service.