To help you find the best social trading platforms in 2021, we went ahead and did the research for you. First, we selected 89 quality brokers that provide social trading. We then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and many more. To be selected among the best social trading platforms, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.
5 brokers made it to the top. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for the best social trading platform in 2021:
- eToro is the best social trading platform in 2021. Free stock and ETF trading. Seamless account opening. Social trading experience.
- TD Ameritrade takes second place. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- tastyworks rounds out the top three. Low trading fees. Great educational materials. Good research tools.
- AvaTrade, numero quattro. Easy and fast account opening. Free deposit and withdrawal options. Great research tools.
- Comdirect just made it to the list at number five. Extensive range of products and exchanges. Great mobile platform. Rock-solid background.
| Broker | Accepts clients from | Score | Best in | |
|---|---|---|---|---|
| #1 | eToro | Globally | 4.7 | Best broker for cryptos |
| #2 | TD Ameritrade | US, China, Hong Kong, Malaysia, Singapore, Thailand, Taiwan, Canada (through TD Direct Investing) | 4.8 | |
| #3 | tastyworks | Globally | 4.7 | Best broker for options |
| #4 | AvaTrade | Globally | 4.5 | |
| #5 | Comdirect | Europe | 4.3 |
What makes a good social trading platform? Obviously, they need to provide great services in all areas, but above all, they need to offer fair fees and have a good safety score. Processes for opening an account and depositing money should be user-friendly. They should also provide access to a wide range of products and have solid educational tools.
These features are easy to list, but hard to figure out. We are testing brokers based on almost 500 criteria, using real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country and your preferences, it will display the best relevant matches. Want more details? Compare brokers with the help of our in-depth comparison table.
And now, let's see the best social trading platforms in 2021 one by one, starting with the winner, eToro.
#1 Best social trading platforms
eToro
eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.
eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).
eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.
eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech company.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High non-trading fees |
| • Seamless account opening | • Only one account base currency |
| • Social trading experience | • Customer support could be improved |
#1 eToro
Fees
eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee and an inactivity fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • High non-trading fees |
| • Free stock and ETF trading | |
| • Low forex and CFD fees |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | - | $15.5 |
| UK stock | $0.0 | - | - | - | $15.5 |
| EURUSD benchmark fee | $8.7 | $7.1 | - | $10.3 | $18.9 |
| Mutual fund | - | $50.0 | - | - | $20.0 |
| US stock index options | - | $6.5 | $12.5 | - | - |
| US micro e-mini stock index futures | - | $22.5 | $8.5 | - | - |
All spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week and closing it.
#1 eToro
Account opening
Account opening at eToro is seamless and very fast.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $100 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day | >3 days |
#1 eToro
Deposit and withdrawal
Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Only one account base currency |
| • No deposit fee | • $5 withdrawal fee |
| • User-friendly | • Conversion fee for non-USD deposits |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | No |
| Electronic wallets | Yes | No | No | Yes | No |
| Withdrawal fee | $5.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| Withdrawal time | 2 days | 2 days | >3 days | >3 days | >3 days |
#1 eToro
Markets and products
At eToro, you can trade CFDs and forex, as well as real stocks, ETFs and many cryptos. Innovative services like social trading and CopyPortfolio are also available.
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Fund | No | Yes | No | No | Yes |
| Bond | No | Yes | No | No | Yes |
| Options | No | Yes | Yes | No | Yes |
| Futures | No | Yes | Yes | No | Yes |
| CFD | Yes | No | No | Yes | No |
| Crypto | Yes | Yes | No | Yes | Yes |
#1 eToro
Web trading platform
eToro offers a user-friendly and well-designed web trading platform. Social trading is available, too. On the other hand, customizability is limited.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars | 3.4 stars | 3.8 stars | 4.4 stars |
| Mobile platform score | 4.9 stars | 4.8 stars | 4.2 stars | 4.7 stars | 4.7 stars |
| Desktop platform score | - | 4.5 stars | 3.9 stars | 3.4 stars | 3.5 stars |
#1 eToro
Education
eToro's education tools are limited, offering only a demo account and some mediocre videos about investing.
| Pros | Cons |
|---|---|
| • Demo account | • Basic educational videos |
| • Intro guide to the platform |
#1 eToro
Verdict
How eToro works? eToro offers zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders.
It has some drawbacks, though. Non-trading fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.
So is eToro good? Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.
Risk disclaimer
eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
| eToro | |
|---|---|
| Summary | eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC. |
| Fees score | 4.4 stars |
| Recommended for | Traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading |
#2 Best social trading platforms
TD Ameritrade
This TD Ameritrade Review concludes that it is recommended for investors and experienced traders looking for solid research and a well-equipped desktop trading platform, the Thinkorswim platform.
It is one of the biggest US-based stockbrokers founded in 1975. As an online broker it is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
It is considered to be a safe broker as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier regulators.
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| Pros | Cons |
|---|---|
| • Low trading fees (free stock and ETF trading) | • You can trade only on US markets |
| • Superb desktop trading platform | • Accounts mostly limited to US residents |
| • Great customer support | • No credit/debit cards and electronic wallets for money transfer |
#2 TD Ameritrade
Fees
TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for futures.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Free stocks and ETFs |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | - | $15.5 |
| UK stock | $0.0 | - | - | - | $15.5 |
| EURUSD benchmark fee | $8.7 | $7.1 | - | $10.3 | $18.9 |
| Mutual fund | - | $50.0 | - | - | $20.0 |
| US stock index options | - | $6.5 | $12.5 | - | - |
| US micro e-mini stock index futures | - | $22.5 | $8.5 | - | - |
All spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week and closing it.
#2 TD Ameritrade
Account opening
| Pros | Cons |
|---|---|
| • Fully digital | None |
| • No minimum deposit | |
| • Many account types |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $100 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day | >3 days |
#2 TD Ameritrade
Deposit and withdrawal
The account funding is user-friendly with no deposit fees, but USD is the only available base currency, and wire transfers incur a high fee.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • Only one account base currency |
| • User-friendly | • High withdrawal fee for wire transfers |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | No |
| Electronic wallets | Yes | No | No | Yes | No |
| Withdrawal fee | $5.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| Withdrawal time | 2 days | 2 days | >3 days | >3 days | >3 days |
#2 TD Ameritrade
Markets and products
You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Fund | No | Yes | No | No | Yes |
| Bond | No | Yes | No | No | Yes |
| Options | No | Yes | Yes | No | Yes |
| Futures | No | Yes | Yes | No | Yes |
| CFD | Yes | No | No | Yes | No |
| Crypto | Yes | Yes | No | Yes | Yes |
#2 TD Ameritrade
Web trading platform
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Two-step (safer) login | |
| • Good variety of order types |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars | 3.4 stars | 3.8 stars | 4.4 stars |
| Mobile platform score | 4.9 stars | 4.8 stars | 4.2 stars | 4.7 stars | 4.7 stars |
| Desktop platform score | - | 4.5 stars | 3.9 stars | 3.4 stars | 3.5 stars |
#2 TD Ameritrade
Education
TD Ameritrade offers great educational materials such as webcasts and articles, and its excellent Thinkorswim desktop platform has a demo account.
| Pros | Cons |
|---|---|
| • Demo account | None |
| • Trading platform tutorial | |
| • Educational videos |
#2 TD Ameritrade
Verdict
It is one of the biggest US online brokers. It charges no commission on stock and ETFs.
Research and education are outstanding, the Thinkorswim desktop platform is one of the best on the market. Customer service is great.
The drawbacks are that it charges high financing (margin) rates, and it doesn't accept credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers only the US markets.
We definitely recommend giving it a try, especially as their education tools include a demo as well.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker regulated by top-tier authorities SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group. |
| Fees score | 4.3 stars |
| Recommended for | Investors and traders looking for solid research and a well-equipped desktop trading platform |
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#3 Best social trading platforms
tastyworks
tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients
The people behind tastyworks are the same experts who built thinkorswim, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Limited product selection |
| • Great educational materials | • Few deposit and withdrawal options |
| • Good research tools | • No demo account |
#3 tastyworks
Fees
tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee for bank (wire) transfers |
| • Low stock and ETF fees / Free stock trading | |
| • No inactivity fee |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | - | $15.5 |
| UK stock | $0.0 | - | - | - | $15.5 |
| EURUSD benchmark fee | $8.7 | $7.1 | - | $10.3 | $18.9 |
| Mutual fund | - | $50.0 | - | - | $20.0 |
| US stock index options | - | $6.5 | $12.5 | - | - |
| US micro e-mini stock index futures | - | $22.5 | $8.5 | - | - |
All spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week and closing it.
#3 tastyworks
Account opening
tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $100 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day | >3 days |
#3 tastyworks
Deposit and withdrawal
tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • Only one account base currency |
| • Free ACH withdrawals in the US | • High fee for wire withdrawals |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | No |
| Electronic wallets | Yes | No | No | Yes | No |
| Withdrawal fee | $5.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| Withdrawal time | 2 days | 2 days | >3 days | >3 days | >3 days |
#3 tastyworks
Markets and products
At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Fund | No | Yes | No | No | Yes |
| Bond | No | Yes | No | No | Yes |
| Options | No | Yes | Yes | No | Yes |
| Futures | No | Yes | Yes | No | Yes |
| CFD | Yes | No | No | Yes | No |
| Crypto | Yes | Yes | No | Yes | Yes |
#3 tastyworks
Web trading platform
The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
| Pros | Cons |
|---|---|
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Price alerts | • Not suited for beginners |
| • Two-step (safer) authentication for certain functions |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars | 3.4 stars | 3.8 stars | 4.4 stars |
| Mobile platform score | 4.9 stars | 4.8 stars | 4.2 stars | 4.7 stars | 4.7 stars |
| Desktop platform score | - | 4.5 stars | 3.9 stars | 3.4 stars | 3.5 stars |
#3 tastyworks
Education
tastyworks has superb educational materials on options trading on its tastytrade platform. On the other hand, there is no demo account.
| Pros | Cons |
|---|---|
| • Trading platform tutorial | • No demo account |
| • Educational videos | |
| • Good production quality |
#3 tastyworks
Verdict
tastyworks is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastyworks's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you should feel free to try it.
| tastyworks | |
|---|---|
| Summary | tastyworks is a recently established US options and stockbroker. It is overseen by FINRA, a top-tier regulatory body. |
| Fees score | 4.5 stars |
| Recommended for | Options and futures traders focusing on US markets |
#4 Best social trading platforms
AvaTrade
AvaTrade is a global CFD and forex broker founded in 2006. It is regulated by several financial authorities, such as the Central Bank of Ireland.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for an option to use metatrader platforms
| Pros | Cons |
|---|---|
| • Easy and fast account opening | • Only CFDs, forex, and cryptos offered |
| • Free deposit and withdrawal options | • High inactivity fees |
| • Great research tools | • Average forex fees |
#4 AvaTrade
Fees
AvaTrade has low CFD and average forex fees. Withdrawals are free of charge, but inactivity fees are quite high.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High inactivity fees |
| • Low CFD fees | • FX trading fees are average |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | - | $15.5 |
| UK stock | $0.0 | - | - | - | $15.5 |
| EURUSD benchmark fee | $8.7 | $7.1 | - | $10.3 | $18.9 |
| Mutual fund | - | $50.0 | - | - | $20.0 |
| US stock index options | - | $6.5 | $12.5 | - | - |
| US micro e-mini stock index futures | - | $22.5 | $8.5 | - | - |
All spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week and closing it.
#4 AvaTrade
Account opening
Account opening at AvaTrade is seamless and fully digital. You can start trading literally in minutes.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $100 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day | >3 days |
#4 AvaTrade
Deposit and withdrawal
AvaTrade offers several free options for deposit and withdrawal. On the negative side, withdrawal took us 3 business days, and debit card deposits can also be slow.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Slow withdrawal - over 3 days |
| • No deposit fee | |
| • Credit/Debit cards, electronic wallets |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | No |
| Electronic wallets | Yes | No | No | Yes | No |
| Withdrawal fee | $5.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| Withdrawal time | 2 days | 2 days | >3 days | >3 days | >3 days |
#4 AvaTrade
Markets and products
AvaTrade offers only forex and CFDs, such as stock, index, forex and commodity CFDs. It doesn't offer other popular asset classes such as real stocks, bonds or mutual funds.
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Fund | No | Yes | No | No | Yes |
| Bond | No | Yes | No | No | Yes |
| Options | No | Yes | Yes | No | Yes |
| Futures | No | Yes | Yes | No | Yes |
| CFD | Yes | No | No | Yes | No |
| Crypto | Yes | Yes | No | Yes | Yes |
#4 AvaTrade
Web trading platform
AvaTrade's web platform is user-friendly, well-designed, and has a unique order type to protect you from losses. However, it lacks customizability, two-step login and price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Good search function | • Limited customizability (for charts, workspace) |
| • AvaProtect order type | • No price alerts |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars | 3.4 stars | 3.8 stars | 4.4 stars |
| Mobile platform score | 4.9 stars | 4.8 stars | 4.2 stars | 4.7 stars | 4.7 stars |
| Desktop platform score | - | 4.5 stars | 3.9 stars | 3.4 stars | 3.5 stars |
#4 AvaTrade
Education
AvaTrade is packed with lots of quality materials to educate yourself, and also offers a demo account.
| Pros | Cons |
|---|---|
| • Demo account | None |
| • Trading platform tutorial | |
| • Educational videos |
#4 AvaTrade
Verdict
AvaTrade is regulated by several authorities globally, including the top-tier Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC), therefore it is considered safe.
We liked the seamless and hassle-free account opening. You can use a lot of deposit and withdrawal options, all free of charge. We also liked that you can use many user-friendly tools for research.
AvaTrade has some drawbacks though. The product range is limited to forex, CFDs, and cryptos, and there is a high fee charged for inactivity. Lastly, there are better alternatives if forex trading fees are your main concern.
As there is only a small minimum deposit, and your account will be ready for trading quickly, feel free to try AvaTrade.
| AvaTrade | |
|---|---|
| Summary | AvaTrade is a global forex and CFD broker. It is regulated by several financial authorities globally, including the Central Bank of Ireland and Australia's ASIC. |
| Fees score | 3.5 stars |
| Recommended for | Forex and CFD traders looking for an option to use MetaTrader platforms |
#5 Best social trading platforms
Comdirect
Comdirect is a German investment bank established in 1994 and owned by Commerzbank, a major German bank. It is regulated by Germany's Federal Financial Supervisory Authority (BaFin) and is listed on the Frankfurt Stock Exchange.
Comdirect is considered safe because it has a long track record, is listed on a stock exchange, has a banking background and is regulated by the top-tier BaFin.
Being a German bank, all of Comdirect's services are available only in German.
Recommended for investors speaking german and focusing on european securities
| Pros | Cons |
|---|---|
| • Extensive range of products and exchanges | • High fees |
| • Great mobile platform | • Complicated account opening for non-German/Austrian residents |
| • Rock-solid background | • Slow phone support and no live chat |
#5 Comdirect
Fees
Comdirect's trading fees are high for all asset classes except bonds. As a plus, non-trading fees are low, there is no withdrawal fee and an inactivity fee is charged only after 3 years.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High trading fees |
| • Low inactivity fee | • High stock and ETF fees |
| • High forex fees |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | - | $15.5 |
| UK stock | $0.0 | - | - | - | $15.5 |
| EURUSD benchmark fee | $8.7 | $7.1 | - | $10.3 | $18.9 |
| Mutual fund | - | $50.0 | - | - | $20.0 |
| US stock index options | - | $6.5 | $12.5 | - | - |
| US micro e-mini stock index futures | - | $22.5 | $8.5 | - | - |
All spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week and closing it.
#5 Comdirect
Account opening
Account opening is easy and fully digital for German and Austrian residents, but is complicated and slow for others.
| Pros | Cons |
|---|---|
| • No minimum deposit | • Slow |
| • Fully digital account opening for German/Austrian residents | • Not fully digital |
| • Complicated account opening for non-German/Austrian residents |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $100 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day | >3 days |
#5 Comdirect
Deposit and withdrawal
Deposits and withdrawals are free of charge, but only bank transfer is available as a method.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • Slow withdrawal - over 3 days |
| • Several account base currencies |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | No |
| Electronic wallets | Yes | No | No | Yes | No |
| Withdrawal fee | $5.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| Withdrawal time | 2 days | 2 days | >3 days | >3 days | >3 days |
#5 Comdirect
Markets and products
You can trade with almost all types of assets at Comdirect. There is also a great selection within asset classes, covering a lot of German, European and overseas exchanges.
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | Yes |
| ETF | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Fund | No | Yes | No | No | Yes |
| Bond | No | Yes | No | No | Yes |
| Options | No | Yes | Yes | No | Yes |
| Futures | No | Yes | Yes | No | Yes |
| CFD | Yes | No | No | Yes | No |
| Crypto | Yes | Yes | No | Yes | Yes |
#5 Comdirect
Web trading platform
Comdirect's web platform is well-designed and easy to use. It has great customization options but lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.3 stars | 3.4 stars | 3.8 stars | 4.4 stars |
| Mobile platform score | 4.9 stars | 4.8 stars | 4.2 stars | 4.7 stars | 4.7 stars |
| Desktop platform score | - | 4.5 stars | 3.9 stars | 3.4 stars | 3.5 stars |
#5 Comdirect
Education
At Comdirect, you can expand your financial knowledge with multiple tools, ranging from a demo account to quality articles.
| Pros | Cons |
|---|---|
| • Demo account | None |
| • Trading platform tutorial | |
| • Educational videos |
#5 Comdirect
Verdict
Comdirect is a German online broker established in 1994. Its parent company is Commerzbank, one of the biggest banks in Germany.
It is recommended for traders with a good knowledge of German.
Comdirect provides access to both European and overseas exchanges with a wide range of products. Its mobile platform is great and the broker is considered safe because it has a banking background, is listed on a stock exchange and is regulated by a top-tier authority.
On the other hand, fees are high, especially stock trading fees. Anyone can open an account, although for residents outside of Germany and Austria, the process is complicated and could take several weeks. There is no functioning live chat and phone support is a bit slow.
If you are looking for a customizable web and desktop platform for trading on German markets, feel free to try Comdirect.
| Comdirect | |
|---|---|
| Summary | Comdirect is a German investment bank offering online banking and brokerage services. |
| Fees score | 2.4 stars |
| Recommended for | Investors speaking German and focusing on European securities |
Best social trading platforms
What makes a trading platform good for social trading
Now that you're familiar with the top 5, you're probably also curious how we came up with this list. Let's go through a few points quickly. What is a social trading platform? Why do we think these brokers are safe? What are the most important factors when selecting the best social trading platform?
What is a social trading platform?
Social trading is a form of investing whereby you copy the investment strategies of others using copy trading or mirror trading. It's suitable especially for people who don't want to spend too much time trying to find good trading opportunities or strategies. A social trading platform is a service that, in addition to normal trading, lets you copy other people's trades.
Are these brokers safe?
Each broker on our list is considered safe. You can be sure none of them is a scam. They are all regulated by at least one top-tier financial authority.
However, even otherwise safe and legit brokerage companies can go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens to your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.
If all goes wrong, and a situation arises when the broker can't pay your money back, the compensation fund of the country where the broker is regulated will be your last resort.
How did BrokerChooser pick the best social trading platforms?
At BrokerChooser, we test online brokers based on roughly 500 criteria, using real accounts and real money. We don't want to overwhelm you, so we will list only the five most important criteria.
| 1. Fees | The trading fees of a typical US equity trade can be as much as 50 times higher at one broker compared with another. It's definitely worth checking these fees. |
| 2. Account opening | Some brokers require a minimum deposit to start investing, while others don't have such a requirement. Always check these conditions when selecting a social trading platform. |
| 3. Deposit and withdrawal | At some brokers, depositing and withdrawing funds can take five times as long and be much more expensive than at others. |
| 4. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 5. Markets and products | Want to invest in Amazon or trade Bitcoin? They may not be available at all brokers. Check the product lineup before opening an account. |
Best social trading platforms
Bottom line
We've shown you the details, now let's zoom out. Here are the best social trading platforms in 2021:
| eToro | TD Ameritrade | tastyworks | AvaTrade | Comdirect | |
|---|---|---|---|---|---|
| Overall score | 4.7 | 4.8 | 4.7 | 4.5 | 4.3 |
| Best in | Best broker for cryptos | Best broker for options | |||
| Fees score | 4.4 stars | 4.3 stars | 4.5 stars | 3.5 stars | 2.4 stars |
| Account opening score | 5.0 stars | 3.6 stars | 5.0 stars | 5.0 stars | 2.6 stars |
| Deposit and withdrawal score | 3.5 stars | 2.2 stars | 1.9 stars | 4.5 stars | 3.5 stars |
| Markets and products score | 3.8 stars | 4.0 stars | 2.6 stars | 2.0 stars | 5.0 stars |
| Web platform score | 4.4 stars | 4.3 stars | 3.4 stars | 3.8 stars | 4.4 stars |
| Education score | 3.5 stars | 5.0 stars | 4.5 stars | 5.0 stars | 5.0 stars |
|
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eToro is our winner, having been selected the best social trading platform in 2021. Free stock and ETF trading. Seamless account opening. Social trading experience.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your trading journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country and some trading preferences, it will show only those brokers that are relevant to you. Want more details? Compare brokers with the help of our detailed comparison table.
