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Interactive Brokers vs eToro 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is Interactive Brokers better than eToro? In our analysis of 23 international regulators across 39 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 BrokerseToroIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars5 Stars
Offering of Investments5 Stars5 Stars5 Stars
Platform & Tools5 Stars4.5 Stars5 Stars
Mobile Trading5 Stars4.5 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999399
Winnercheck_circle
ReviewInteractive Brokers RevieweToro ReviewIG Review
RegulationInteractive BrokerseToroIG
Trust Score999399
Year Founded197720071974
Publicly Traded (Listed)YesNoYes
BankNoNoYes
Tier-1 Licenses827
Tier-2 Licenses112
Tier-3 Licenses001
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)Interactive BrokerseToroIG
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)YesNoNo
SFC Authorised (Hong Kong)YesNoNo
CBI Authorised (Ireland)YesNoNo
FSA Authorised (Japan)YesNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)YesNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)YesNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)Interactive BrokerseToroIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)YesNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)NoNoYes
Tier-3 Licenses (Low Trust)Interactive BrokerseToroIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsInteractive BrokerseToroIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)8500345819537
Forex Pairs (Total)9049100
U.S. Stock Trading (Non CFD)YesYesYes
Int'l Stock Trading (Non CFD)YesYesYes
Social Trading / Copy TradingNoYesYes
Cryptocurrency (Physical)YesYesNo
Cryptocurrency (CFD)NoYesYes
DisclaimersNote: 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).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 BrokerseToroIG
Average Spread EUR/USD - Standard0.6 (Aug 2022)1 (August 2021)0.86 (September 2022)
All-in Cost EUR/USD - Active0.6 (Aug 2022)N/A0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerYesYesYes
Execution: Market MakerNoYesYes
FundingInteractive BrokerseToroIG
Minimum Initial Deposit$0$10-$10,000ยฃ250.00
PayPal (Deposit/Withdraw)NoYesYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)NoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsInteractive BrokerseToroIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesNoYes
Web PlatformYesYesYes
Social Trading / Copy TradingNoYesYes
MetaTrader 4 (MT4)NoNoYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsInteractive BrokerseToroIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields640614
Charting - Indicators / Studies (Total)1286633
Charting - Drawing Tools (Total)851320
Charting - Trade From ChartYesNoYes
Charts can be savedYesYesYes
Mobile TradingInteractive BrokerseToroIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesYesYes
Mobile Charting - Indicators / Studies97533
Mobile Charting - Draw TrendlinesYesNoYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveNoNoYes
Forex CalendarYesNoYes
ResearchInteractive BrokerseToroIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesNoYes
AutochartistNoNoYes
Trading Central (Recognia)YesYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationInteractive BrokerseToroIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsInteractive BrokerseToroIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewInteractive Brokers RevieweToro ReviewIG Review
OverallInteractive BrokerseToroIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars5 Stars
Offering of Investments5 Stars5 Stars5 Stars
Platform & Tools5 Stars4.5 Stars5 Stars
Mobile Trading5 Stars4.5 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999399
Winnercheck_circle
ReviewInteractive Brokers RevieweToro ReviewIG Review
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Interactive Brokers vs eToro Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 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, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG 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 โ€“ or receive exclusive perks for sharing their own trading strategies.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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