Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers and eToro are both prominent online brokers, each bringing unique strengths to the table. Founded in 1977, Interactive Brokers is a long-established industry player that is publicly traded but not a bank. In comparison, eToro, founded in 2007, is also publicly traded and operates without banking status. Interactive Brokers distinguishes itself with 9 Tier-1 licenses and 2 Tier-2 licenses, reflecting a high level of regulatory trust in its operations. eToro, while younger, holds 3 Tier-1 licenses and 1 Tier-2 license, securing its position as a reliable platform.
When considering trust ratings by ForexBrokers.com, Interactive Brokers tops the list with an impeccable Trust Score of 99, indicating it is highly trusted in the industry. eToro also fares well with a Trust Score of 96, highlighting its commitment to security and customer confidence. These ratings suggest that both platforms are respected options for online trading, with Interactive Brokers slightly ahead in terms of regulatory trust endorsement.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Year Founded | 1977 | 2007 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the online brokers Interactive Brokers and eToro regarding commissions and fees, Interactive Brokers is known for offering competitive pricing despite not publishing its average forex spreads. During Q3 2024, its average spread for EUR/USD was 0.19 pips, with an effective spread of 0.59 pips after commissions. The broker facilitates forex trading by aggregating prices from 17 interbank dealers and charges a per-trade commission that ranges between $16 and $40 per million round turn. This pricing model makes it attractive for active traders, who can benefit from discounts with higher monthly trading volumes. Interactive Brokers holds a high rating of 5 stars for commissions and fees and is ranked #2 out of 63 brokers by ForexBrokers.com.
In contrast, eToro primarily appeals to traders for its social copy trading features rather than its spreads and fees. Operating as a market-maker broker, eToro lists a typical variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. The broker offers a VIP program called the eToro Club, providing benefits such as discounted withdrawal fees and a dedicated account manager for traders who maintain balances between $5,000 and $250,000. Despite its higher spreads, eToro earns a solid 4.5-star rating for commissions and fees, ranking #22 out of 63 brokers according to ForexBrokers.com.
In summary, Interactive Brokers emerges as a favorable choice for active forex traders seeking lower commissions and efficient execution, especially for those who trade substantial volumes. Meanwhile, eToro caters to traders interested in social trading opportunities, offering a suite of VIP perks to enhance the trading experience for its clients, albeit at slightly higher spreads. Both brokers have distinct strengths, tailored to suit varying trader preferences and strategies.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 |
| Average Spread EUR/USD - Standard | 0.59 | 1 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and eToro both provide traders with a substantial range of investment options, making them popular choices for diverse trading needs. Interactive Brokers offers a remarkable 8,500 tradeable symbols compared to eToro's 5,461. Those interested in forex trading have access to 90 forex pairs on Interactive Brokers, while eToro provides 55 pairs. Both platforms allow clients to buy exchange-traded securities on U.S. and international exchanges, enabling investments in companies like Apple and Vodafone. When it comes to cryptocurrency, both brokers allow the purchase of actual cryptocurrencies as well as derivatives.
One noticeable difference between the two is in copy trading capability—eToro provides this feature, which is highly appealing to clients who prefer to follow and replicate the trades of experienced investors. Despite this, both Interactive Brokers and eToro earned a full five-star rating for their range of investments. Interactive Brokers takes the top spot as the number one ranked broker in this category by ForexBrokers.com, while eToro holds a respectable tenth position out of 63 brokers. These rankings reflect each platform's commitment to offering a wide variety of investment choices to meet the diverse needs of their clients.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 5461 |
| Forex Pairs (Total) | 90 | 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.
For those considering trading platforms, Interactive Brokers and eToro offer notable features for new and seasoned traders alike. Both brokers provide a simulated trading environment with a free virtual demo account, allowing users to explore their platforms risk-free. Each has developed its own proprietary platform accessible via the web. However, Interactive Brokers stands out with its additional Windows-based desktop platform, offering a more comprehensive experience for desktop users. Despite both brokers refraining from offering popular platforms like MetaTrader 4 or 5, each provides a unique trading environment tailored to different trading styles. Interactive Brokers' platform supports trading directly from stock charts, a feature not available on eToro.
When it comes to charting tools, Interactive Brokers offers an extensive 85 drawing tools, while eToro boasts 161 options, giving traders a variety of capabilities to analyze markets effectively. That said, eToro's standout feature is its copy trading, a popular option not available with Interactive Brokers. While eToro's flexibility in charting and social trading earns it a rating of 4.5 stars in the Trading Platforms and Tools category, Interactive Brokers' expansive watch list customization—with 659 columns—contributes to its perfect 5-star rating. In rankings by ForexBrokers.com, Interactive Brokers secures the third spot out of 63, revealing a slight edge over eToro, which holds the eighth position.
| Feature |
Interactive Brokers
|
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) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 104 |
| Charting - Drawing Tools (Total) | 85 | 161 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 659 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and eToro both provide highly functional mobile trading apps for iPhone and Android, with a range of features that cater to online traders. Both apps allow users to receive alerts on stock and forex prices, ensuring that traders can stay updated on market changes. The apps also enable the syncing of watchlists between mobile devices and online accounts, offering seamless access to their favorite stocks or forex pairs from any device. While eToro offers a slightly higher number of technical studies for its charting tools, Interactive Brokers provides handy features like the ability to draw trendlines on charts, which eToro does not support. Additionally, both apps allow for viewing multiple time frames, a key feature for both casual and seasoned traders. Despite neither app saving chart drawings automatically, both platforms facilitate creating watchlists with real-time quotes, enhancing the overall trading experience.
In terms of ratings, Interactive Brokers stands out with an impressive 5-star rating for its mobile trading app, whereas eToro follows closely with a 4.5-star rating. This slight edge might be due to Interactive Brokers offering more comprehensive charting capabilities and a superior ranking by ForexBrokers.com, coming in fourth place out of 63 analyzed brokers. In contrast, eToro is ranked tenth, showcasing that while it is a strong contender, Interactive Brokers might provide more advanced tools for those specifically seeking extensive charting options in their mobile trading experience.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 104 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research features, both Interactive Brokers and eToro cater to traders by providing daily market commentary and detailed sentiment-based trading tools. However, Interactive Brokers sets itself apart by offering forex news from top-tier sources like Bloomberg and Reuters, which eToro lacks. Both platforms provide technical analysis tools from Trading Central, but only Interactive Brokers supplies research tools from Acuity Trading, making it a top choice for those seeking comprehensive research capabilities.
Both Interactive Brokers and eToro offer economic calendars and market research from TipRanks, yet Interactive Brokers has a slight edge, earning a perfect 5-star rating for research, compared to eToro's still impressive 4.5 stars. Notably, Interactive Brokers ranks #3 out of 63 brokers in the Research category on ForexBrokers.com, whereas eToro holds the #13 spot. For traders prioritizing extensive market research and insights, Interactive Brokers emerges as a leading choice.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | 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 Interactive Brokers and eToro stand out by offering a comprehensive range of learning materials. Each platform provides over 10 pieces of content, from articles and videos to archived webinars, focusing on forex and CFDs education. Beginners can also access a wealth of online educational webinars each month, with both brokers maintaining an organized archive of past sessions for further learning. For those just starting their trading journey, Interactive Brokers and eToro each offer more than 10 beginner educational videos. Additionally, each broker provides advanced content to support more experienced traders, alongside an investor dictionary that defines over 50 investing terms.
Despite their similarities in educational offerings, the two brokers differ slightly in their ratings. Interactive Brokers receives a perfect 5-star rating for education, ranking 3rd out of 63 brokers evaluated by ForexBrokers.com. Meanwhile, eToro is rated at 4.5 stars, positioning it as the 5th best for education. These slight differences reflect Interactive Brokers’ edge in content breadth and user experience for educational resources, even as eToro remains a strong contender in providing valuable beginner content.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than eToro. Interactive Brokers finished with an overall rank of #2, while eToro finished with an overall rank of #9.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 96 |
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Interactive Brokers and eToro both offer the flexibility to purchase actual delivered cryptocurrency as well as cryptocurrency derivatives, providing comprehensive options for traders interested in crypto investments.
Interactive Brokers and eToro both offer ACH and SEPA transfers, as well as bank wire options for depositing and withdrawing funds, but eToro distinguishes itself by additionally providing PayPal, Skrill, and Visa/Mastercard options, which are not available with Interactive Brokers.
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 | Interactive Brokers | eToro | |
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| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | eToro Review |
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| Regulation | Interactive Brokers | eToro | |
|---|---|---|---|
| Trust Score | 99 | 96 | |
| Year Founded | 1977 | 2007 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | eToro | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | eToro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | eToro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 5461 | |
| Forex Pairs (Total) | 90 | 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 | Interactive Brokers | eToro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | eToro | |
|---|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | 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 | Interactive Brokers | eToro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 6 | |
| Charting - Indicators / Studies (Total) | 155 | 104 | |
| Charting - Drawing Tools (Total) | 85 | 161 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 104 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Interactive Brokers | eToro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | 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 | |
| Review | Interactive Brokers Review | eToro Review |
| Overall | Interactive Brokers | eToro | |
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| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | eToro Review |
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