eToro Alternatives

The best alternatives to eToro are

1. XTB - Global CFD and forex broker
2. Trading 212 - Global CFD and forex broker
3. IG - Global CFD and forex broker
4. Markets.com - Global CFD and forex broker

Let's see in a bit more detail how the eToro alternatives compare to eToro and each other:

Why are these brokers considered good alternatives to eToro? There are many areas based on which eToro can be compared with others. When we say a given online broker is a good alternative to eToro we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

eToro alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• eToro is recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading
• XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
• Trading 212 is recommended for active cfd and fx traders and investors looking for intuitive trading platforms
• IG is recommended for traders of any experience level looking for an easy-to-use trading platform
• Markets.com is recommended for traders looking to venture into cfd trading

Important factors of finding eToro alternatives

So far BrokerChooser has reviewed 91 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether eToro or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. eToro is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost eToro alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At eToro this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at eToro, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given eToro alternative is a must.

Now let's dive into the details of how eToro and its alternatives perform in the most important areas!

XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.

XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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 low fees and great deposit/withdrawal service

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77% of retail CFD accounts lose money

Fees

3.8

XTB has low forex fees and there is no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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77% of retail CFD accounts lose money

Account opening

5.0

XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.

If you are interested more in XTB minimum deposit, this overview will help you.

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77% of retail CFD accounts lose money

Deposit and withdrawal

4.5

XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.

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77% of retail CFD accounts lose money

Web trading platform

4.4

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.

Learn more about XTB's web trading platform in the detailed XTB review.

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77% of retail CFD accounts lose money

Markets and products

2.8

XTB's default selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular assets like bonds, mutual funds, options or futures are not available.

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77% of retail CFD accounts lose money

Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.

On the plus side, its forex fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.

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77% of retail CFD accounts lose money

Trading 212 is a global CFD and forex broker, but clients can also trade stocks and ETFs free of charge. The company was founded in 2004 and is now headquartered in London. Trading 212 is regulated by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). 

Trading 212 is considered safe as it is regulated by the top-tier FCA. 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 active cfd and fx traders and investors looking for intuitive trading platforms

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76% of retail CFD accounts lose money

Fees

3.4

Trading 212 has commission-free stocks and ETFs, and there are also no fees for deposit, withdrawal or inactivity. However, fees for forex trading are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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76% of retail CFD accounts lose money

Account opening

4.5

The account opening process is straightforward, user-friendly and quick. Our account was verified within one business day.

If you are interested more in Trading 212 minimum deposit, this overview will help you.

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76% of retail CFD accounts lose money

Deposit and withdrawal

4.3

Trading 212 deposits and withdrawals are free, fast, and can be done in several way. On the negative side, there are only a few account base currencies available in each country.

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76% of retail CFD accounts lose money

Web trading platform

4.9

Trading 212 has a user-friendly and customizable web trading platform. It also provides a two-step login.

Learn more about Trading 212's web trading platform in the detailed Trading 212 review.

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76% of retail CFD accounts lose money

Markets and products

3.9

Trading 212 focuses mainly on CFDs and forex. You can also trade real stocks and ETFs, but popular asset classes like bonds, mutual funds, options and futures are missing.

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76% of retail CFD accounts lose money

Verdict

Trading 212 works as a CFD and forex broker regulated by multiple financial supervisory authorities.

On the plus side, Trading 212 offers commission-free stocks and ETFs, while CFD fees and non-trading fees are low as well. The account opening process is seamless and the trading platforms are user-friendly.

However, Trading 212 has a limited product portfolio, lacking popular asset classes such as bonds or options. We missed phone and live chat support, and found forex fees relatively high.

So is Trading 212 good? Trading 212 is a good choice for those interested in investing in equities or trading leveraged forex and CFD products, with the use of a great trading platform. As it offers a demo account, don't hesitate to give it a try.

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76% of retail CFD accounts lose money

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

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70% of retail CFD accounts lose money

Fees

3.1

IG has low non-trading fees. There is no fee for withdrawals and an inactivity fee is charged only after 2 years. On the negative side, the forex and stock CFD fees are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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70% of retail CFD accounts lose money

Account opening

4.4

IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $/€300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.

If you are interested more in IG minimum deposit, this overview will help you.

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70% of retail CFD accounts lose money

Deposit and withdrawal

4.5

IG offers free and fast deposits and withdrawals. There are various options for funding your account, including traditional methods such as bank wire transfer and credit card funding, as well as PayPal.

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70% of retail CFD accounts lose money

Web trading platform

5.0

IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.

Learn more about IG's web trading platform in the detailed IG review.

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70% of retail CFD accounts lose money

Markets and products

3.9

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real stocks. Other popular assets, however, like mutual funds and bonds, are not available.

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70% of retail CFD accounts lose money

Verdict

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.

IG has one of the best web trading platforms BrokerChooser has tested. The deposit and withdrawal conditions are great. You can also expand your knowledge with great educational materials.

On the other hand, there are some drawbacks. The forex and stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs and options. Customer support could be better.

Feel free to test IG's first-class trading platform, since there is no minimum funding amount for bank transfers and you can also easily open a demo account. 

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70% of retail CFD accounts lose money

Markets.com is a global CFD and forex broker founded in 2008. It is regulated by several financial authorities, like the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Conduct Authority (FCA). 

Markets.com offers services and platforms under two brands. The Marketsi platform is for share-dealing and investing, while Marketsx is the platform used for CFD trading. In this review, we focus on Markets.com's flagship CFD trading services, using the Marketsx platform.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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 looking to venture into cfd trading

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70% of retail CFD accounts lose money

Fees

2.7

Markets.com has high forex fees and average CFD fees. There is also an inactivity fee charged. As a plus, it charges no account, deposit, or withdrawal fees.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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70% of retail CFD accounts lose money

Account opening

5.0

Account opening at Markets.com is seamless, fast and fully digital. You can open your trading account within a day.

If you are interested more in Markets.com minimum deposit, this overview will help you.

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70% of retail CFD accounts lose money

Deposit and withdrawal

5.0

Markets.com provides multiple deposit and withdrawal options free of charge on a user-friendly interface.

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70% of retail CFD accounts lose money

Web trading platform

3.8

Markets.com's web trading platform is easy to use, has great search function, and you can set price alerts. On the other hand, there is no two-step login and it lacks some important features, like a clear fee report.

Learn more about Markets.com's web trading platform in the detailed Markets.com review.

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70% of retail CFD accounts lose money

Markets and products

2.9

Markets.com's product portfolio covers CFDs, forex, and real stocks. On the other hand, other popular asset classes, like ETFs, options, or futures are not available.

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70% of retail CFD accounts lose money

Verdict

Markets.com is a CFD broker regulated by more authorities globally, including the top-tier FCA and ASIC.

Account opening is seamless and fast, it has good research tools and great customer service and is regulated by multiple top-tier financial regulators, like the UK's FCA and ASIC in Australia.

On the other hand, forex trading fees are high and product selection covers mostly CFDs and forex. We also missed some important features on the trading platforms, like two-step authentication and price alerts on the web.

All in all, Markets.com is a good choice. As the account opening is super easy, feel free to try it.

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70% of retail CFD accounts lose money

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

Fees

4.4

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.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stock and $20k for FX

Account opening

5.0

Account opening at eToro is seamless and very fast.

Learn more about eToro minimum deposit here.

Deposit and withdrawal

3.5

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.

Web trading platform

4.4

eToro offers a user-friendly and well-designed web trading platform. Social trading is available, too. On the other hand, customizability is limited.

Learn more about eToro's web trading platform in the detailed eToro review.

Markets and products

3.8

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.

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.

Based on our analysis, there are several good alternatives to eToro. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.