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eToro vs Interactive Brokers Review

Steven Hatzakis

Published by Steven Hatzakis


Wednesday, August 15th, 2018

After spending seven months and hundreds of hours researching 43 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare eToro vs Interactive Brokers.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Interactive Brokers received a rating of 4.00 stars over eToro's 3.50 stars.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Both eToro and Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company, eToro isn't. As far as how many currency pairs are available for trading, here's the answer. Interactive Brokers offers its clients access to 85 different currency pairs while eToro has 47 available pairs, a difference of 38.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. eToro nor Interactive Brokers offers Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Interactive Brokers trails eToro by 5 total charting tools, with eToro offering 14 and Interactive Brokers offering 9. eToro trails Interactive Brokers by 55 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and eToro offering 66.

Overall, Interactive Brokers boasts 4.50 stars versus eToro's 4.00 stars. And, when it comes to individual category awards, eToro posted awards Best in Class - Customer Service in 2018, while Interactive Brokers found itself with none of these.
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Overall
Offering of Investments
Commissions & Fees
Platform & Tools
Customer Service
Research
Mobile Trading
Education
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
FCA Regulated (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Advantage
All-in Cost EUR/USD - Active
Average Spread EUR/USD - Standard
Active Trader or Premium/VIP
Advantage
Proprietary
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader4 (MT4)
MetaTrader5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Advantage
Virtual Trading (Demo)
Watchlists - Total Fields
Alerts - Basic Fields
Charting - Trade From Chart
Charts can be saved
Charting - Drawing Tools (Total)
Charting - Indicators / Studies (Total)
Charting - Drawings Autosave
Order Type - Trailing Stop
Advantage
Android App
Apple iOS App
Forex News
Alerts - Basic Fields
Alerts Delivery - Push Notifications
Watch List
Watch List Syncing
Charting - Technical Studies/Indicators
Charting - Draw Trend Lines
Advantage
Daily Market Commentary
Forex News (Top-Tier Sources)
AutoChartist
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forecasts
Economic News Sentiment
Trade Ideas - Backtesting
Advantage
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
USDMXN (or MXNUSD)
USDNOK (or NOKUSD)
USDSEK (or SEKUSD)
USDTRY (or TRYUSD)
USDZAR (or ZARUSD)
USDDKK (or DKKUSD)
USDBRL (or BRLUSD)
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Overall
Advantage
eToro
eToro Review
 
4
4.5
3.5
4
3
2.5
4
3.5
 
86
2007
No
Yes
Yes
Yes
Yes
No
No
No
No
No
No
Yes
No
 
Yes
47
1096
Yes
Yes
 
N/A
3
Yes
 
Yes
No
Yes
Yes
No
No
No
No
No
No
 
Yes
6
No
No
Yes
14
66
Yes
Yes
 
Yes
Yes
No
No
No
Yes
Yes
5
No
 
No
No
No
No
No
No
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
No
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
No
No
 
$200
Yes
Yes
Yes
Yes
No
 
4
Interactive Brokers
Interactive Brokers Review
 
4.5
5
4
4
4
4
4
4
 
91
1977
Yes
Yes
No
Yes
Yes
No
No
No
Yes
Yes
Yes
No
No
 
Yes
85
4217
No
Yes
check_circle
 
N/A
N/A
Yes
check_circle
 
Yes
Yes
No
No
No
No
No
No
No
No
check_circle
 
Yes
300
Yes
Yes
No
9
121
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
68
No
check_circle
 
No
Yes
No
Yes
No
No
No
No
Yes
Yes
No
Yes
Yes
Yes
No
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
No
Yes
No
No
 
$10,000
Yes
No
No
No
No
 
4.5
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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All data was obtained from a published web site as of 4/03/2018 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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