eToro Alternatives

The best alternatives to eToro are

1. Plus500 - Global CFD and forex broker
2. MarketsX - Global CFD and forex broker
3. XTB - Global CFD and forex broker
4. City Index - 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) & zero commission stock trading
• Plus500 is recommended for experienced traders looking for an easy-to-use platform and a great user experience
• MarketsX is recommended for traders looking to venture into cfd trading
• XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
• City Index is recommended for forex and cfd traders looking for low forex fees and great research tools

Important factors of finding eToro alternatives

So far BrokerChooser has reviewed 63 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 is a well-known Israeli fintech startup, a social trading broker established in 2007.

eToro serves UK clients through an entity regulated by the Financial Conduct Authority (FCA), Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot entity 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 site 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 startup.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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) & zero commission stock trading

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Fees

4.2

eToro offers free stock trading. On the negative side, forex trading fees are high and there is a fee charged for inactivity or withdrawal.

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

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Account opening

5.0

Account opening at eToro is seamless and very fast.

Learn more about eToro minimum deposit here.

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Deposit and withdrawal

3.7

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.

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Web trading platform

4.4

eToro offers a user-friendly and well-designed web trading platform. In addition, social trading is also available. On the other hand, the customizability is limited.

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

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Markets and products

3.8

At eToro you can trade with CFDs and forex, as well as real stocks, ETFs and many cryptocurrencies. In addition, the broker also offers innovative services like social trading and CopyPortfolio.

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Verdict

eToro has zero-commission stock trading. Account opening is swift and seamless. It also has a lot of innovative features, like social trading and copying other (successful) traders.

It has some drawbacks, though. Forex 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.

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.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

Past performance is not an indication of future results.

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.

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Plus500 is a London Stock Exchange-listed Global CFD and forex broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

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

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.5% 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.

Disclaimer for 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 and a great user experience

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80.5% of retail CFD accounts lose money

Fees

3.6

Plus500 has low trading fees and average non-trading fees. Even if they have an inactivity fee, it is applied only if you are not logging in at all.

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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80.5% of retail CFD accounts lose money

Account opening

5.0

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.

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

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80.5% of retail CFD accounts lose money

Deposit and withdrawal

5.0

Plus500's deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.

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80.5% of retail CFD accounts lose money

Web trading platform

4.4

The Plus500 trading platform is very easy to use and also looks great. On the negative side, it cannot be customized.

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

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80.5% of retail CFD accounts lose money

Markets and products

1.9

At Plus500 you can trade only with CFDs and forex. There is a wide selection of CFDs and currency pairs to trade with.

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80.5% of retail CFD accounts lose money

Verdict

Plus500 is a good CFD and forex broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK's FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by Plus500 Cyprus, thus the Cypriot investor protection will apply.

Attention 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 are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.

The Plus500 platform is easy to use, with a great user experience, which even first-time users can navigate with ease. Spreads are competitive, but financing rates are quite high. Some more advanced research tools would be useful. 

As there is no minimum balance required, no withdrawal fee above $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.

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80.5% of retail CFD accounts lose money

Markets.com has done a rebranding in 2019 and the new brand for trading is MarketsX.

Markets.com was founded in 2010 and it is a global CFD and FX broker. It is regulated by several financial authorities, like the Cypriot CySEC or the UK FCA. 

It is considered safe, because it's regulated by at least one top-tier financial authority.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.3% 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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81.3% of retail CFD accounts lose money

Fees

2.0

MarketsX charges no account, deposit or withdrawal fees and the CFD fees are low, too. On the flip side, financing rates and forex fees are high and inactivity fee can kick in as well.

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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81.3% of retail CFD accounts lose money

Account opening

5.0

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

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

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81.3% of retail CFD accounts lose money

Deposit and withdrawal

4.5

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

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81.3% of retail CFD accounts lose money

Web trading platform

3.3

MarketsX's web trading platform is easy to use, has a clear fee report and good search function. On the other hand, we missed the two-step login, the customizability, and the order confirmation.

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

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81.3% of retail CFD accounts lose money

Markets and products

1.8

MarketsX has a limited product portfolio as you can only trade with CFDs, forex, a couple of cryptos and CFD funds.

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81.3% of retail CFD accounts lose money

Verdict

In this review, we tested MarketsX thoroughly and here is the verdict: it is an ok broker, especially if you want to concentrate on CFD trading. The account opening is seamless and fast, it has good research tools and great customer service and it is also regulated by multiple top-tier financial regulators, like the FCA and the ASIC. On the other hand, the trading fees are high and it offers only CFDs and forex. We also missed some important features on the trading platforms like two-step authentication or price alerts on the web.

All in all, it is a good choice. As the account opening is super easy and there is no inactivity fee, feel free to try it.

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81.3% of retail CFD accounts lose money

XTB is a global CFD and forex broker with headquarters in London and Warsaw. The company is regulated by several financial authorities worldwide, including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF). XTB is listed on the Warsaw Stock Exchange.

XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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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80% of retail CFD accounts lose money

Fees

4.0

XTB has low trading fees and low non-trading fees. Within trading fees, there are low fees for forex and stock index CFDs. On the other hand, 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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80% of retail CFD accounts lose money

Account opening

5.0

XTB's account opening process is hassle-free, fully digital and straightforward. 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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80% of retail CFD accounts lose money

Deposit and withdrawal

4.5

XTB deposits and withdrawals are cost-friendly, fast, and can be done in several forms.

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80% 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, a two-step login is not available.

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

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80% of retail CFD accounts lose money

Markets and products

2.8

XTB's product selection covers only CFDs, forex and crypto assets. Some European clients can also trade with real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.

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80% 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, and it is listed on the Warsaw Stock Exchange. 

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

XTB has some drawbacks, though. The stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Lastly, its email support did not reply to our queries.

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

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80% of retail CFD accounts lose money

City Index was founded in 1983 and it is a global CFD and FX broker. City Index is the brand name of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by top-tier financial authorities, such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) or Monetary Authority of Singapore (MAS). 

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

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 low forex fees and great research tools

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71% of retail CFD accounts lose money

Fees

4.1

City Index has low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high and there is 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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71% of retail CFD accounts lose money

Account opening

5.0

City Index account opening is fully digital and there is no minimum deposit. It took us one day to have an approved open account.

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

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71% of retail CFD accounts lose money

Deposit and withdrawal

4.0

City Index provides multiple options for deposit and withdrawal and they are free of charge. However, the withdrawal with some credit cards is not possible.

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71% of retail CFD accounts lose money

Web trading platform

4.3

City Index's web trading platform is user-friendly and extremely customizable. It has also a lot of order types. On the flip side, there is no two-step login.

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

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71% of retail CFD accounts lose money

Markets and products

2.1

At City Index, you can only trade with CFDs, forex, and cryptos. Unfortunately, real stocks, bonds and ETFs are not available.

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71% of retail CFD accounts lose money

Verdict

City Index is a great CFD and forex broker regulated by top-tier financial authorities, such as the UK FCA.

On the bright side, it has low forex and stock index CFD fees, a smooth account opening process, and high-quality research tools.

It has some drawbacks though. The product portfolio is limited, the stock CFD fees are quite high, and the desktop platform is not easy-to-use.

As there is no minimum balance, no withdrawal fee and inactivity fee only kicks in after one year, feel free to try City Index out.

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71% of retail CFD accounts lose money

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.