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Interactive Brokers vs eToro 2020

Is eToro better than Interactive Brokers? After testing 30 of the best forex brokers over five months, Interactive Brokers is better than eToro. Professional traders looking for a complete multi-asset broker will find Interactive Brokers offers a comprehensive platform with competitive fees across multiple global financial markets.

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
Interactive Brokers Review eToro Review
63.5% of retail CFD accounts lose money 62% 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

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 1980
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4.5 4.5
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Cost

Feature Interactive Brokers eToro
Average Spread EUR/USD - Standard
N/A 3 (as of May 19)
All-in Cost EUR/USD - Active
N/A N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 3
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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

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
Platform & Tools 4.5 4
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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 Trend Lines
No No
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
No No
Mobile Trading 4 4
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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
No Yes
Economic Calendar
Yes Yes
Research 4.5 4
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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
Education 4 4
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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
Interactive Brokers Review eToro Review
Overall 4.5 4
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To find the top fx brokers, the team here at ForexBrokers.com collected over 3,180 data points during a several month review of the forex industry. In this fx broker comparison, we will compare eToro vs Interactive Brokers.

To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Interactive Brokers is a better option with a 4.00 star rating over eToro's 3.00 star rating.

Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. eToro alongside Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company, eToro isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. eToro trails Interactive Brokers by 58 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 105 and eToro offering 47.

To round out our comparison of eToro vs Interactive Brokers, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. eToro nor Interactive Brokers offers Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. eToro boasts an offering of 13 charting tools compared to Interactive Brokers's 9 available charting tools. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to eToro's 66 available indicators.

eToro Review
Interactive Brokers Review


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 web site as of 01/20/2020 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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