eToro Alternatives

May 2019
Our top picks for eToro alternatives
Plus500 Markets.com
eToro Alternatives

The best alternatives to eToro are

  1. Plus500 - Global CFD and FX broker
  2. Markets.com - Global CFD and FX broker
  3. XTB - Global CFD and FX broker
  4. City Index - Global CFD and FX broker

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

eToro alternatives comparison
eToroPlus500Markets.comXTBCity Index
Overall score4.54.44.34.54.4
Fees score 4 stars 4 stars 4 stars 4 stars 3 stars
Account opening score 5 stars 5 stars 5 stars 5 stars 4 stars
Deposit and withdrawal score 4 stars 5 stars 5 stars 5 stars 4 stars
Web platform score 4 stars 4 stars 3 stars 4 stars 4 stars
Markets and products score 3 stars 2 stars 2 stars 2 stars 2 stars
Visit broker Visit broker Visit broker Visit broker Visit broker

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 beginner traders and those interested in social trading (copying other traders’ trades)
  • Plus500 is recommended for experienced traders looking for an easy-to-use platform, with great user experience.
  • Markets.com is recommended for beginner cfd traders
  • XTB is recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools
  • City Index is recommended for cfd and forex traders looking for low forex fees and great research tools

Important factors of finding eToro alternatives

So far Brokerchooser has reviewed 29 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!


eToro

eToro logo

eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.

eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.

eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. 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 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.

Best social trading

Recommended for beginner traders and those interested in social trading (copying other traders’ trades)

Pros
  • Free stock and ETF trading in the EU
  • Seamless account opening
  • Social trading experience
Cons
  • Poor customer service
  • Trading platform outages
  • Limited educational tools

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eToro
Fees 4 stars

eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.
Pros
  • Free stock and ETF trading in the EU
  • Low fees for non-EU clients
  • Transparent fee structure
Cons
  • High financing rate
  • $25 withdrawal fee
  • $10 monthly inactivity fee
eToro alternatives trading fees
eToroPlus500Markets.comXTBCity Index
Apple benchmark fee$0.0$8.9$5.6$18.1$22.1
Vodafone benchmark fee$0.0$7.6$6.8$24.4$30.7
EURUSD benchmark fee$19.1$17.6$28.6$17.1$13.6

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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eToro
Account opening 5 stars

Account opening is enjoyable and super fast.
Pros
  • Fast account opening
  • No minimum account balance
  • User-friendly
Cons
None
eToro alternatives minimum deposit and account open times
eToroPlus500Markets.comXTBCity Index
Minimum deposit$200$114$100$250$0
Time to open account1 day1 day1 day1 day>3 days

Learn more about the eToro minimum deposit here.

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eToro
Deposit and withdrawal 4 stars

It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
Cons
  • High withdrawal fee
  • Only one account base currency
eToro and alternatives withdrawal options and fees
eToroPlus500Markets.comXTBCity Index
Bank TransferYesYesYesYesYes
Credit/Debit cardYesYesYesNoYes
Electronic walletsYesYesYesNoNo
Withdrawal fee$25$0$0$0$0

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eToro
Web trading platform 4 stars

eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.
Pros
  • User-friendly
  • Looks nice
  • Social trading
Cons
  • No clear fee report available
  • Cannot be customized
eToro - Web trading platform
eToro and alternatives trading platform scores
eToroPlus500Markets.comXTBCity Index
Web platform score 4 stars 4 stars 3 stars 4 stars 4 stars
Mobile platform score 5 stars 5 stars 4 stars 4 stars 4 stars
Desktop platform score--- 4 stars 3 stars

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

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eToro
Markets and products 3 stars

At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading, "CFD funds" and real crypto wallet.
eToro and alternatives markets and products
eToroPlus500Markets.comXTBCity Index
StockYesNoNoYesNo
ETFYesNoNoYesNo
ForexYesYesYesYesYes
FundNoNoNoNoNo
BondNoNoNoNoNo
OptionsNoNoNoNoNo
FuturesNoNoNoNoNo
CFDYesYesYesYesYes
CryptoYesYesYesYesYes

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#1 eToro alternative - Plus500
Plus500

Plus500 logo

Plus500 is a CFD broker, established in Israel. It is listed on the Main Market of the London Stock Exchange. Plus500 subsidiaries are authorized and regulated by different regulators, including top-tier regulators like the FCA from the UK.

Plus500 is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Plus500 is a CFD and forex broker. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Daytraders!: At Plus500 scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker

Recommended for experienced traders looking for an easy-to-use platform, with great user experience.

Pros
  • Easy to use platform
  • Low spreads
  • Listed on AIM section of the London Stock Exchange
Cons
  • Limited product portfolio, only CFDs
  • High financing rates
  • Minimal research tools

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Plus500
Fees 4 stars

Plus500 has low trading fees and average non-trading fees. Financing rates are very high.
Pros
  • Low trading fees
  • No withdrawal fee
Cons
  • Inactivity fee
  • High financing rate
  • Financing rate calculation is non-transparent
eToro vs. Plus500: Trading fees
Plus500eToro
Apple benchmark fee$8.9$0.0
Vodafone benchmark fee$7.6$0.0
EURUSD benchmark fee$17.6$19.1

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

More Visit broker

Plus500
Account opening 5 stars

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
None
eToro vs. Plus500: Minimum deposit, time to open an account
Plus500eToro
Minimum deposit$114$200
Time to open account1 day1 day

If you are interested more in Plus500 minimum deposit, this overview will help you.

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Plus500
Deposit and withdrawal 5 stars

Plus500's deposit and withdrawal are both great. You have many options, the process is easy-to-do and usually free of charge.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
  • Five withdrawal per month is free
Cons
None
eToro vs. Plus500: Withdrawal options
Plus500eToro
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsYesYes
Withdrawal fee$0$25

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Plus500
Web trading platform 4 stars

Plus500 trading platform is very easy-to-use and also looks great. On the flip side, it cannot be customized. 
Pros
  • User-friendly
  • Two-step (safe) login
  • Good search function
  • Available in several languages
Cons
  • Limited customizability (for charts, workspace)
Web trading platform of Plus500, a eToro alternative
eToro vs. Plus500: Trading platform scores
Plus500eToro
Web platform score 4 stars 4 stars
Mobile platform score 5 stars 5 stars
Desktop platform score--

Learn more about Plus500's web trading platform in the detailed Plus500 review.

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Plus500
Markets and products 2 stars

At Plus500 you can trade only with CFDs and forex. There are a lot CFDs, you can choose from almost 2,000.
eToro vs. Plus500: Markets and products
Plus500eToro
StockNoYes
ETFNoYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

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#2 eToro alternative - Markets.com
Markets.com

Markets.com logo

Markets.com is a global CFD and FX broker established in 2010. Markets.com is operated by Safecap Investment Limited, which is regulated by two regulators, the Cypriot Cysec and the South African FSCA. It is not regulated by FCA, the top-tier, UK regulator. Safecap is owned by Playtech, a gambling software development company.

Markets.com is considered safe, because its parent company, Playtech is listed on a stock exchange.

Markets.com is a CFD and forex broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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 beginner cfd traders

Pros
  • Low fees
  • Account open is seamless and fast
  • Innovative research tools
Cons
  • Limited product portfolio, only CFDs
  • Not FCA regulated, Cysec and FSB only

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Markets.com
Fees 4 stars

Markets.com has low trading and non-trading fees.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
  • No inactivity fee
  • Low financing rate
Cons
  • Not transparent fee structure
  • Financing rate calculation is non-transparent
eToro vs. Markets.com: Trading fees
Markets.comeToro
Apple benchmark fee$5.6$0.0
Vodafone benchmark fee$6.8$0.0
EURUSD benchmark fee$28.6$19.1

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

More Visit broker

Markets.com
Account opening 5 stars

Markets.com account opening is seamless, fast and fully digital. You can open your trading account within a day.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • $/€/£100 minimum funding
eToro vs. Markets.com: Minimum deposit, time to open an account
Markets.comeToro
Minimum deposit$100$200
Time to open account1 day1 day

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

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Markets.com
Deposit and withdrawal 5 stars

Markets.com deposit and withdrawal are free of charge, with many options and easy-to-do.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • None
eToro vs. Markets.com: Withdrawal options
Markets.comeToro
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsYesYes
Withdrawal fee$0$25

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Markets.com
Web trading platform 3 stars

Markets.com's web trading platform looks nice, easy to use, and has a great search function. It has limited order types, and the two step login is missing.
Pros
  • User-friendly
  • Good search function
  • Available in several languages
Cons
  • No two-step (safe) login
  • Limited order types
  • No order confirmation
Web trading platform of Markets.com, a eToro alternative
eToro vs. Markets.com: Trading platform scores
Markets.comeToro
Web platform score 3 stars 4 stars
Mobile platform score 4 stars 5 stars
Desktop platform score--

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

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Markets.com
Markets and products 2 stars

At Markets.com you can trade only with CFDs, forex, and cryptos.
eToro vs. Markets.com: Markets and products
Markets.comeToro
StockNoYes
ETFNoYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

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#3 eToro alternative - XTB
XTB

XTB logo

XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via a UK or a Polish entity. We tested the UK entity, but will provide info on all entities.

XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including a top-tier financial authority, the FCA.

XTB is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by a top-tier regulator.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs carry risk. 73-79% 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.

Best CFD broker

Recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools

Pros
  • Fast deposit and withdrawal
  • Fast and user-friendly account opening
  • Good research tools
Cons
  • Limited product portfolio, mostly CFD and FX
  • Sales team can be pushy
  • No 24/7 customer support

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XTB
Fees 4 stars

XTB has average trading fees and low non-trading fees.
Pros
  • Low non-trading fees
  • No withdrawal fee
  • No inactivity fee
Cons
None
eToro vs. XTB: Trading fees
XTBeToro
Apple benchmark fee$18.1$0.0
Vodafone benchmark fee$24.4$0.0
EURUSD benchmark fee$17.1$19.1

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

More Visit broker

XTB
Account opening 5 stars

XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • Sales team pushy
eToro vs. XTB: Minimum deposit, time to open an account
XTBeToro
Minimum deposit$250$200
Time to open account1 day1 day

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

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XTB
Deposit and withdrawal 5 stars

XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
Pros
  • Credit/Debit card deposit and withdrawal
  • Quick funding and withdrawal -within 3 days
  • User-friendly
Cons
  • High fees for electronic wallet deposits
eToro vs. XTB: Withdrawal options
XTBeToro
Bank TransferYesYes
Credit/Debit cardNoYes
Electronic walletsNoYes
Withdrawal fee$0$25

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XTB
Web trading platform 4 stars

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
  • Limited order types
Web trading platform of XTB, a eToro alternative
eToro vs. XTB: Trading platform scores
XTBeToro
Web platform score 4 stars 4 stars
Mobile platform score 4 stars 5 stars
Desktop platform score 4 stars -

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

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XTB
Markets and products 2 stars

UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
eToro vs. XTB: Markets and products
XTBeToro
StockYesYes
ETFYesYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

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#4 eToro alternative - City Index
City Index

City Index logo

City Index was founded in 1983 and it is a Global CFD and FX broker. It is regulated by top-tier regulators, like the UK FCA and the Australian ASIC.

City Index is considered safe because it has a long track record, its parent company is listed on stock exchange, and is regulated by top-tier regulators.

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 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 cfd and forex traders looking for low forex fees and great research tools

Pros
  • Low forex fees
  • Diverse and high-quality research tools
  • Great customer support
Cons
  • High stock CFD fees
  • Limited product portfolio
  • Not user-friendly desktop platform

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City Index
Fees 3 stars

City Index has average trading and non-trading fees. Its financing rates are low.
Pros
  • No withdrawal fee
  • Low financing rate
Cons
  • Inactivity fee
eToro vs. City Index: Trading fees
City IndexeToro
Apple benchmark fee$22.1$0.0
Vodafone benchmark fee$30.7$0.0
EURUSD benchmark fee$13.6$19.1

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

More Visit broker

City Index
Account opening 4 stars

City Index account opening is fully digital and there is no minimum deposit. But, it can take more days.
Pros
  • Fully digital account opening
  • No minimum account balance
Cons
  • Slow account opening
eToro vs. City Index: Minimum deposit, time to open an account
City IndexeToro
Minimum deposit$0$200
Time to open account>3 days1 day

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

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City Index
Deposit and withdrawal 4 stars

City Index deposit and withdrawal are free and user-friendly. On the flip side, electronic wallets are missing and you cannot select your account currency.
Pros
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • No deposit fee
Cons
  • Missing electronic wallets
  • Base currencies cannot be selected
eToro vs. City Index: Withdrawal options
City IndexeToro
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsNoYes
Withdrawal fee$0$25

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City Index
Web trading platform 4 stars

City Index web trading platform is extremely customizable. It also has a lot of order types. On the flip side, there is no two-step login.
Pros
  • User-friendly
  • Clear fee report
  • Good search function
Cons
  • No two-step (safe) login
Web trading platform of City Index, a eToro alternative
eToro vs. City Index: Trading platform scores
City IndexeToro
Web platform score 4 stars 4 stars
Mobile platform score 4 stars 5 stars
Desktop platform score 3 stars -

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

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City Index
Markets and products 2 stars

At City Index, you can trade only with CFDs, forex, and cryptos.
eToro vs. City Index: Markets and products
City IndexeToro
StockNoYes
ETFNoYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

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eToro alternatives
Bottom line

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.

eToro alternatives
BrokerInfoRecommended for
eToroGlobal social trading brokerBeginner traders and those interested in social trading (copying other traders’ trades)
Plus500Global CFD and FX brokerExperienced traders looking for an easy-to-use platform, with great user experience.
Markets.comGlobal CFD and FX brokerBeginner CFD traders
XTBGlobal CFD and FX brokerForex and CFD traders looking for great funding and withdrawal processes and research tools
City IndexGlobal CFD and FX brokerCFD and forex traders looking for low forex fees and great research tools

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

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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