Intro
DEGIRO has a higher overall score than eToro, but the two companies’ services are actually roughly on par with each other - this is reflected in the small difference between the overall scores BrokerChooser assigned to them.
In addition to solid overall services, both brokers have their special strengths. BrokerChooser named DEGIRO as Best discount broker and eToro as Best broker for cryptos for 2022.
| eToro | DEGIRO | |
|---|---|---|
| Overall score | 4.8 stars | 4.9 stars |
| Recommended for | Traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading | Traders and investors looking for execution only |
| Fees score | 4.3 stars | 4.5 stars |
| Deposit and withdrawal score | 3.8 stars | 3.0 stars |
| Account opening score | 5.0 stars | 5.0 stars |
| Markets and products score | 4.4 stars | 3.8 stars |
eToro vs DEGIRO
Fees and funding
Fees
One important area where DEGIRO outperforms eToro is fees. Both trading and non-trading fees are low at DEGIRO, which even offers one free ETF trade per month. And while not only one but all stock and ETF trades are commission free at eToro, you might end up paying more in non-trading fees as eToro charges a withdrawal fee and, after 12 months of inactivity, an inactivity fee.
Deposit and withdrawal
Deposit and withdrawal options at these two brokers are a mixed bag: while DEGIRO offers a lot more account base currencies than eToro (9 versus just 1), eToro accepts more deposit and withdrawal methods, including credit/debit cards.
This tmeans a lower score for DEGIRO, because many retail investors will miss convenient and quick deposit options such as credit/debit cards or electronic wallets such as PayPal. Still, eToro also has room for improvement, as having the option to use base currencies other than USD would help traders from the UK or the Euro zone save on conversion fees now levied on every deposit and withdrawal.
eToro vs DEGIRO
Platforms and products
Account opening
Account opening takes about the same time and effort at DEGIRO and eToro. You need to submit the same kind of documents to verify your identity and it takes roughly the same amount of time to have a fully functional account up and running (usually you’ll have it ready within a day at both providers). It’s worth mentioning though that eToro requires a minimum deposit of $50 in most countries.
Trading platforms
Our experts rated the trading platforms of both DEGIRO and eToro as high quality, but overall eToro is slightly better. One thing we liked especially on eToro’s mobile trading platform is its search function, and the fact that the app has a similar great overall functionality as the web platform. Meanwhile, one shortcoming of DEGIRO’s otherwise user-friendly trading platforms is the absence of price alerts.
Markets and products
The biggest difference between eToro and DEGIRO is the range of markets and products available, and eToro clearly excels here. Unlike DEGIRO, eToro offers CFDs, cryptos and fractional shares, assets that are increasingly popular with today’s traders (only cryptos are available at eToro USA). To its credit, DEGIRO offers funds, bonds, options and futures, all of which are unavailable at eToro.
eToro vs DEGIRO
Research, education and support
Research and education
The other area where eToro and DEGIRO are in a different league is research and education, where eToro offers much better tools and learning material. These include a demo account where you can try out the platform using virtual money; as well as great charting tools and analyst recommendations. All of these are unavailable at DEGIRO or only in poorer quality.
Customer support
One area where DEGIRO is the clear winner is customer service. While there’s no live chat - an increasingly popular channel with users and brokers alike - DEGIRO offers excellent phone support for urgent queries, a feature that’s sorely missing at eToro. Meanwhile, if you want to contact eToro, your only option is a web-based ticketing service of mixed quality.
eToro vs DEGIRO
FAQ
Which is better: eToro or DEGIRO?
DEGIRO has a higher overall score at BrokerChooser than eToro, but the difference is minimal. Fees, the most important aspect for many traders, are on the whole lower at DEGIRO, but eToro offers a better all-round service in terms of product selection, platform quality, funding options and research tools.
What’s the downside of eToro?
For most people it’s probably that it only supports USD as an account base currency and the fact that customer support is not available 24/7.
Is DEGIRO a good broker?
Yes, DEGIRO is a great broker. Its trading platforms are user-friendly, it’s a long-established broker with a solid background, its fees are low; and it offers a decent account and product selection.
Which is easier to deposit to, eToro or DEGIRO?
eToro offers more deposit options than DEGIRO. DEGIRO only allows bank transfers, while eToro also accepts credit/debit cards and electronic wallets such as PayPal.
Which has a better mobile app, eToro or DEGIRO?
Both apps are great, with a neat and user-friendly interface, as well as great search functionality and secure login options. We liked eToro’s app slightly better, as it also offers price alerts and some extra features such as push notifications or the intuitive use of swipe interactions.
Which is the better trading platform, eToro or DEGIRO?
eToro has slightly better trading platforms on both web and mobile, according to BrokerChooser's assessment. Both are easy to use, but eToro offers a few more extra features such as price alerts.
Which is cheaper, eToro or DEGIRO?
DEGIRO has slightly better fees overall in BrokerChooser's assessment, but a direct comparison is difficult as the two brokers’ product selections don’t fully overlap. While eToro offers free stock and ETF trading, your overall costs may end up higher thanks to withdrawal fees, as well as conversion fees charged on non-USD deposits/withdrawals.
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