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.
When it comes to choosing a reliable online broker, both IG and eToro have their merits. IG, established in 1974, is recognized as a longstanding institution, even classified as a bank, which adds an additional layer of security. Meanwhile, eToro, founded in 2007, has rapidly gained trust in the market. Both companies are publicly traded, offering an extra level of transparency. Regulatory-wise, IG outshines with 8 Tier-1 licenses, considered highly trusted, while eToro holds 3 such licenses. In terms of Tier-2 licenses, IG again takes the lead with 2, compared to eToro's 1.
The ForexBrokers.com Trust Score gives IG a near-perfect 99 out of 99, indicating it is highly trusted, whereas eToro boasts a commendable 96, also placing it among the highly trusted brokers. Whether you prioritize a broker’s long-standing history, its licensing credentials, or its trust score, both IG and eToro offer trustworthy options based on your trading needs.
| Feature |
IG
|
eToro
|
|---|---|---|
| Year Founded | 1974 | 2007 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When it comes to comparing commissions and fees between IG and eToro, both brokers offer unique features catering to different trading needs. IG, rated 5 stars for commissions and fees, ranks 8th out of 63 brokers by ForexBrokers.com. This platform provides scalable execution across various products and offers active trader pricing through its Forex Direct accounts, ideal for high-volume traders. Although IG isn't a discount broker, it stands out with competitive spreads on its main Forex Direct account, averaging 0.62 pips as of July 2023, with overall costs hitting 0.82 pips considering the per-trade commission. Moreover, IG incentivizes volume traders with a three-tier active-trader rebate program, offering rebates from 10% to 20% based on trading volume.
In comparison, eToro, a market-maker broker, is rated 4.5 stars and ranked 22nd by ForexBrokers.com. It lists a typical variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. While eToro's spreads might not be the most competitive, its appeal lies in its social copy trading platform. Alongside, eToro offers a VIP club with five membership tiers, offering benefits like discounted withdrawal and deposit fees, access to Trading Central, and a dedicated account manager, depending on your account balance. This structure is designed for those users who want more than just trading, seeking also a comprehensive trading experience with additional perks.
In conclusion, IG and eToro cater to different trading priorities with IG focusing more on favorable pricing for high-volume traders, while eToro provides a social trading experience enriched with club benefits. Thus, your choice between the two will largely depend on whether you prioritize low trading fees and competitive spreads or the allure of social trading and VIP benefits.
| 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.
When it comes to the range of investments, both IG and eToro are highly regarded, each earning a full five-star rating. IG offers an impressive 19,537 tradeable symbols, significantly outpacing eToro's 5,461. For those interested in forex trading, IG provides access to 97 forex pairs compared to the 55 forex pairs available on eToro. Both brokers allow clients to participate in forex trading either through CFDs or spot contracts, providing ample flexibility for traders. Additionally, both IG and eToro offer the ability to buy actual cryptocurrencies as well as cryptocurrency derivatives, catering to crypto enthusiasts.
In terms of exchange-traded securities, IG and eToro both offer access to U.S. and international exchanges, enabling clients to invest in shares like Apple and Vodafone without the use of CFDs. However, when it comes to copy trading, eToro stands out by offering this feature, while IG does not. Despite these differences, IG ranks higher in the Range of Investments category, holding the #4 spot according to ForexBrokers.com, while eToro ranks at #10 among 63 brokers. These rankings reflect the depth and diversity of IG's investment offerings, making it a more comprehensive choice for investors looking for a broader selection.
| 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) | Yes | 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 IG and eToro, both platforms offer users the opportunity to practice with free virtual demo accounts and have proprietary platforms developed in-house. Traders looking for a desktop trading platform will find IG to have an advantage because it offers a Windows-based download option, unlike eToro. However, both platforms provide web-based trading options, ensuring accessibility through any internet browser. Additionally, IG supports the well-known MetaTrader 4 for those who prefer that interface, but neither broker supports MetaTrader 5. While IG lacks features like copy trading, which eToro offers, IG traders can enjoy trading directly from stock charts, a feature not available with eToro.
Regarding charting tools, eToro takes a lead, offering 161 drawing tools compared to IG's 20, providing ample options for technical analysis. For watch lists, eToro again edges out slightly by allowing six customizable columns, one more than IG. Although both platforms are highly rated for their trading tools, IG stands out with a perfect five-star rating, placed second out of 63 brokers by ForexBrokers.com, while eToro scores a commendable 4.5 stars, ranked eighth. This suggests that although both brokers offer extensive tools, IG may cater better to those seeking a more traditional trading experience with high customization and comprehensive charting capabilities.
| 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 provide excellent mobile trading apps for iPhone and Android users, offering essential features like price alerts and watchlist syncing. However, when it comes to technical analysis and charting capabilities, each app stands out differently. IG allows users to access 33 technical studies and offers the ability to draw trendlines, view multiple time frames, and auto-save drawings on charts. In comparison, eToro impresses with a broader selection of 104 technical studies but lacks the functionality to draw trendlines and auto-save chart drawings. Both platforms support real-time watchlist creation, helping traders stay updated on market movements.
In terms of performance ratings, IG's app claims a perfect 5-star rating, securing the top spot among 63 brokers according to ForexBrokers.com. eToro, while highly commendable with a 4.5-star rating, ranks tenth. These ratings reflect the overall user experience, with IG edging out eToro in categories crucial for technical charting and drawing functions. For traders focused on technical analysis and ease of use, IG may offer a slight edge, while eToro's extensive range of technical studies could appeal to those seeking diverse analytical tools.
| 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.
IG and eToro both provide daily market commentary, ensuring traders stay updated with the latest market trends. However, IG offers forex news from esteemed sources like Bloomberg and Reuters, while eToro does not. If you're looking for technical analysis tools, IG partners with Autochartist, whereas eToro collaborates with Trading Central. Both platforms provide sentiment-based trading tools showing long or short position ratios and offer market research insights via TipRanks. IG further enhances its offerings with research tools from Acuity Trading, such as Signal Centre.
For traders interested in an economic calendar displaying global news events, both IG and eToro deliver this feature. However, when it comes to overall research ratings, IG scores a perfect five stars, ranked second out of 63 brokers by ForexBrokers.com. On the other hand, eToro, rated at 4.5 stars, holds the thirteenth position in the same category. These differences highlight IG’s slight edge in providing comprehensive market research tools and resources for traders.
| 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.
When it comes to educational resources for beginners, both IG and eToro provide an extensive array of materials to help new investors learn the ropes of forex and CFD trading. IG offers a top-rated educational experience, complete with over ten articles, videos, and recorded webinars focused on these subjects. The platform hosts monthly online webinars and maintains an easily searchable archive for previous sessions, making it straightforward for users to revisit useful content. IG also caters to both beginners and advanced traders with more than ten educational videos tailored to each level. Additionally, IG provides a comprehensive investor dictionary, explaining more than 50 financial terms, contributing to its outstanding 5-star education rating and its top rank in the Education category according to ForexBrokers.com.
eToro similarly provides valuable educational resources for newcomers, featuring a wide selection of articles, videos, and webinars centered around forex and CFDs. They also offer monthly webinars and a searchable archive, ensuring that learning isn’t limited to real-time sessions. eToro matches IG's effort by offering video content for beginners and advanced traders alike, along with a detailed investor dictionary housing over 50 investing definitions. Despite its commendable array of resources, eToro is rated slightly lower at 4.5 stars for Education and ranks fifth on ForexBrokers.com’s list. While both platforms are excellent choices for those entering the world of online trading, IG holds a slight edge with its superior educational offerings.
| 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 63 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 | 96 |
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Both IG and eToro provide seamless access to buying actual delivered cryptocurrencies and cryptocurrency derivatives, offering diverse options for traders seeking to engage with digital currencies.
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 | 96 | |
| Winner | check_circle | ||
| Review | IG Review | eToro Review |
| Broker Screenshots | IG | eToro | |
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| Regulation | IG | eToro | |
|---|---|---|---|
| Trust Score | 99 | 96 | |
| Year Founded | 1974 | 2007 | |
| Publicly Traded (Listed) | Yes | Yes | |
| 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) | Yes | 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 | 96 | |
| Winner | check_circle | ||
| Review | IG Review | eToro Review |
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