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 Swissquote.
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. Both eToro and Swissquote are rated 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. eToro alongside Swissquote are regulated in a major hub. Swissquote is a publicly traded company, while eToro is not. As far as how many currency pairs are available for trading, here's the answer. Swissquote offers its clients access to 78 different currency pairs while eToro has 47 available pairs, a difference of 31.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Swissquote offers Meta Trader 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. eToro trails Swissquote by 17 total charting tools, with Swissquote offering 31 and eToro offering 14. eToro offers its clients access to 66 different indicators (for example, volume) while Swissquote has 51 available indicators, a difference of 15.
Overall, both eToro and Swissquote share a rating of 4.00 stars. And, when it comes to individual category awards, both eToro and Swissquote received Best in Class - Customer Service awards in 2018.