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Interactive Brokers vs eToro 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Interactive Brokers better than eToro? In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. eToro is considered low-risk, with an overall Trust Score of 93 out of 99. Learn more about Trust Score.

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Overall RatingInteractive BrokerseToro
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score 99 93
Winner check_circle
Review Interactive Brokers Review eToro Review
RegulationInteractive BrokerseToro
Trust Score 99 93
Year Founded 1977 2007
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 8 2
Tier-2 Licenses 1 1
Tier-3 Licenses 0 0
Tier-1 Licenses (High Trust)Interactive BrokerseToro
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) Yes No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Interactive BrokerseToro
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) Yes No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)Interactive BrokerseToro
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsInteractive BrokerseToro
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 8500 3458
Forex Pairs (Total) 90 49
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 (CFD) No 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).
CostInteractive BrokerseToro
Average Spread EUR/USD - Standard 0.6 info 1 info
All-in Cost EUR/USD - Active 0.6 info N/A
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker No Yes
FundingInteractive BrokerseToro
Minimum Deposit $0 $10-$10,000
PayPal (Deposit/Withdraw) No Yes
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsInteractive BrokerseToro
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 ToolsInteractive BrokerseToro
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 640 6
Charting - Indicators / Studies (Total) 128 66
Charting - Drawing Tools (Total) 85 13
Charting - Trade From Chart Yes No
Charts can be saved Yes Yes
Mobile TradingInteractive BrokerseToro
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 5
Mobile Charting - Draw Trendlines Yes No
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave No No
Forex Calendar Yes No
ResearchInteractive BrokerseToro
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
Economic Calendar Yes Yes
EducationInteractive BrokerseToro
Has 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 PairsInteractive BrokerseToro
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
OverallInteractive BrokerseToro
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score 99 93
Winner check_circle
Review Interactive Brokers Review eToro Review
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Interactive Brokers vs eToro Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs eToro.

Does Interactive Brokers or eToro 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 Interactive Brokers or eToro safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while eToro holds 2. Both Interactive Brokers and eToro hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than eToro.

Which trading platform is better: Interactive Brokers or eToro?

To compare the trading platforms of both Interactive Brokers and eToro, 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. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to eToro's 49 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while eToro has 3458 available CFDs, a difference of 5042.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust eToro?

eToro is not publicly traded and does not operate a bank. eToro is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the Financial Conduct Authority (FCA).

Is Interactive Brokers good?

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.

Is eToro good?

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.

Overall winner: Interactive Brokers

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announcementPlease 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.

Reink Media Group is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

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