Page Summary
eToro and FXCM are leading online forex brokers with social trading tools. eToro has a long track record, and it offers excellent trading tools. It has a reliable proprietary platform and a dedicated social trading space. eToro has top-tier licenses from the ASIC and FCA. We recommend it for experienced traders, as it has limited research and educational tools.
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eToro
77% 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. eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. OTC Derivatives are speculative and leveraged. Not suitable for all investors. See PDS and TMD. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
FXCM
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:20 | 1:400 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | $5 | $40 |
| Deposit Fee | 0 | 0 |
| Inactivity Fee | $10 a month after one year | $50 per year after 12 months |
| Cost Per Trade | N/A | 0 |
| Cost Per Month | N/A | 0 |
| Forex (EUR/USD) | 1.1 pip | 0.2 pips |
| Stocks & ETF | 0 | 0 |
| CFD (Gold) | 5 pip | 0.5 pips |
| Crypto | 0 | 0 |
| Options | 0 | 0 |
| Conversion Fees | 0 | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $200 | $300 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | ||
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 2.800 | 0 |
| ETF & Funds | 0 | 0 |
| Crypto | 30 | 0 |
| Commodities | 0 | 0 |
| Indices | 0 | 0 |
| Options | 0 | 0 |
| Futures | 0 | 0 |
| Bonds | 0 | 0 |
| Forex | 49 | 45 |
| CFD Indices & Funds | 250 | 15 |
| CFD Stocks | 2800 | 219 |
| CFD Commodities | 54 | 12 |
| CFD Crypto | 32 | 7 |
| CFD Bonds | 0 | 1 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
FXCM is one of the leading forex brokers with beginner-friendly and advanced trading tools. It has an excellent education portal with tutorials and forex education topics. FXCM offers professional research tools and MT4. It has licenses from the IIROC, ASIC, and FCA. It is a top choice for traders of all levels of experience as it has a versatile portfolio.
This article discusses the strengths and weaknesses of eToro and FXCM.
Top findings from the eToro vs. FXCM review:
- eToro is the leading social trading broker with access to major forex pairs.
- FXCM is the leading forex broker with a reliable educational portal.
- Both brokers offer an active trader discount and a virtual trading account.
We recommend eToro to advanced traders who want access to premium social trading tools. FXCM is a better choice for beginners, as it offers valuable educational materials.
FXCM is one of the leading forex brokers with beginner-friendly and advanced trading tools. It has an excellent education portal with tutorials and forex education topics. FXCM offers professional research tools and MT4. It has licenses from the IIROC, ASIC, and FCA. It is a top choice for traders of all levels of experience as it has a versatile portfolio.
This article discusses the strengths and weaknesses of eToro and FXCM.
Top findings from the eToro vs. FXCM review:
- eToro is the leading social trading broker with access to major forex pairs.
- FXCM is the leading forex broker with a reliable educational portal.
- Both brokers offer an active trader discount and a virtual trading account.
We recommend eToro to advanced traders who want access to premium social trading tools. FXCM is a better choice for beginners, as it offers valuable educational materials.
Level of experience
eToro is the leading social trading broker with professional tools. It offers premium research tools, including social sentiment and an economic calendar. eToro has limited research and education tools, which is why it’s a better choice for experienced traders.
FXCM has many platform choices to match different trading styles and skills. It offers a reliable educational portal with helpful information. FXCM has forex education, webinars, and beginner and advanced trading videos. It is a top choice for new traders.
Fees
eToro has an initial deposit fee of $200, while FXCM starts from $50-£300, depending on your location. The average EUR/USD spread at eToro is 1, while at FXCM is 1.4. Both brokers offer an active trader discount.
Assets
eToro has 47 forex currency pairs, while FXCM has 39 available pairs. eToro offers access to 2314 CFDs, while FXCM has 82 available CFDs.
Trading platform
eToro has an outstanding social trading experience with dedicated platforms and tools. It offers a virtual trading account and a reliable social trading app. eToro is a top choice for professional traders, as its market data is limited.
FXCM has a proprietary platform, Trading Station, and MetaTrader4. It provides access to many technical indicators and advanced tools. FXCM is a recommended choice for new traders because of its dedicated learning center. It provides access to third-party market data and daily technical levels.
Banking services
Banking services contribute to an excellent online trading experience. eToro has six funding solutions, including bank transfers, credit/debit cards, PayPal, and Skrill. FXCM offers bank transfers, credit/debit cards, and Skrill.
Final verdict
eToro and FXCM are leading online brokers. Both have strengths and weaknesses depending on your trading skills, knowledge, and needs. We recommend eToro to advanced traders who want access to premium social trading tools. FXCM is a better choice for new investors, as it has a dedicated learning center.
eToro compared to other brokers:
Disclaimer:
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that 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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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.