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 LCG.
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. eToro received a rating of 3.5 stars over LCG's 3 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 LCG are regulated in a major hub. LCG is a publicly traded company, eToro isn't. As far as how many currency pairs are available for trading, here's the answer. LCG boasts an offering of 82 different currency pairs compared to eToro's 47 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. LCG makes Meta Trader available to clients, while eToro does not. 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. LCG offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. eToro offers its clients access to 67 different indicators (for example, volume) while LCG has 51 available indicators, a difference of 16.
Overall, both eToro and LCG hold a 4 star rating. And, when it comes to individual category awards, neither eToro nor LCG were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.