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Interactive Brokers vs eToro 2021

Is eToro better than Interactive Brokers? After testing 27 of the best forex brokers over five months, Interactive Brokers is better than eToro. Professional forex and CFD traders seeking a global multi-asset broker will find Interactive Brokers offers a sophisticated, institutional grade trading platform, and competitive fees.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature Interactive Brokers eToro
Overall 4.5 4
Commissions & Fees 4.5 4
Offering of Investments 5 4.5
Platforms & Tools 4.5 4
Mobile Trading 4 4
Research 4.5 4
Education 4 4
Trust Score 94 91
Interactive Brokers Review eToro Review
Winner check_circle
66% of retail CFD accounts lose money 75% of retail CFD accounts lose money

Regulation

Feature Interactive Brokers eToro
Trust Score 94 91
Year Founded
1977 2007
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
6 2
Tier-2 Licenses
0 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature Interactive Brokers eToro
ASIC Authorised (Australia)
No Yes
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
Yes No

Investments

Feature Interactive Brokers eToro
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
No Yes
Currency Pairs (Total Forex pairs)
105 47
CFDs - Total Offered
7400 2314
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
No Yes

Cost

Feature Interactive Brokers eToro
Average Spread EUR/USD - Standard
N/A 1 (August 2020)
All-in Cost EUR/USD - Active
N/A N/A
Active Trader or VIP Discounts
Yes Yes

Funding

Feature Interactive Brokers eToro
Minimum Initial Deposit
$0 $200
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
No Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature Interactive Brokers eToro
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes No
Web Platform
Yes Yes
Social Trading / Copy-Trading
No Yes
MetaTrader 4 (MT4)
No No
MetaTrader 5 (MT5)
No No
cTrader
No No
DupliTrade
No No
ZuluTrade
No No

Trading Tools

Feature Interactive Brokers eToro
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
494 6
Charting - Indicators / Studies (Total)
121 66
Charting - Drawing Tools (Total)
9 13
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature Interactive Brokers eToro
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes No
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
70 5
Charting - Draw Trendlines
No No
Charting - Trendlines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No

Research

Feature Interactive Brokers eToro
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
No No
AutoChartist
No No
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature Interactive Brokers eToro
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
No Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature Interactive Brokers 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

Overall

Feature Interactive Brokers eToro
Overall 4.5 4
Commissions & Fees 4.5 4
Offering of Investments 5 4.5
Platforms & Tools 4.5 4
Mobile Trading 4 4
Research 4.5 4
Education 4 4
Trust Score 94 91
Interactive Brokers Review eToro Review

Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs Interactive Brokers.

Does eToro or Interactive Brokers offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is eToro or Interactive Brokers safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Interactive Brokers holds 6 global Tier-1 licenses, while eToro holds 2. eToro holds 1 global Tier-2 licenses, while Interactive Brokers holds 0. All regulators considered, Interactive Brokers has a Trust Score of 94.00, while eToro's Trust Score is 91.00.

Which trading platform is better: eToro or Interactive Brokers?
To compare the trading platforms of both eToro and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While eToro offers copy trading, Interactive Brokers does not. Neither broker offers Meta Trader.

How many forex pairs and CFDs are available to trade?
Interactive Brokers provides traders 105 currency pairs (e.g., EUR/USD) compared to eToro's 47 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 7400 CFDs while eToro has 2314 available CFDs, a difference of 5,086.

Overall winner: Interactive Brokers

Read Next: Best Forex Brokers 2021

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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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