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eToro vs. Interactive Brokers

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eToro and Interactive Brokers are leading online brokers. eToro offers a superior social trading experience through its proprietary platforms. It is a safe broker with licenses from the ASIC and FCA. eToro has a dedicated social trading space and mobile app. We recommend it for professional traders as it has limited research and educational materials. 

Broker NameeToroInteractive Brokers
Year Founded20071978
RegulationFCA, ASIC, CySECSEC (USA), FCA (UK)
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured ProductsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Min Deposit$200$0
Min Trade$0$0
PlatformsWeb, Social TradingTraders Workstation (TWS)
DepositFree of chargeFree of charge
WithdrawalsFree of chargeFree of charge for the first withdrawal in calendar month

Interactive Brokers is a secure broker with licenses from the IIROC, FSA, SFC, MAS, FCA, FINMA, and CFTC. It offers a proprietary platform and a professional app with access to a demo account. Interactive Brokers is a good choice for new traders as it has in-depth educational materials. 

Both online brokers have strengths and weaknesses. This article discusses the differences between eToro and Interactive Brokers. 

Top findings from the eToro vs. Interactive Brokers review:  

  1. eToro is the leading social trading broker with secure platforms and top-tier licenses. 
  1. Interactive Brokers is a leading online broker with many learning tools. 
  1. Both brokers offer an active trader discount and a demo account to test their offering. 

eToro is an excellent choice for professional traders, as it provides world-class social trading tools. We recommend Interactive Brokers to traders of all levels of experience who want to improve their trading knowledge and skills. 

Overall Rating

FeatureeToro InteractiveBrokers
Overall44.5
Commissions & Fees44.5
Offering of Investments4.55
Platforms & Tools44.5
Mobile Trading44
Research44.5
Education44
Trust Score9394
WinnerYES
67% of retail CFD accounts lose money66% of retail CFD accounts lose money

Level of experience  

Beginner traders choose Interactive Brokers over eToro. Interactive Brokers offers many research tools, including Trading Central and forex news. It has excellent educational materials, including investor dictionaries and webinars. Its virtual trading account is a top learning tool. 

eToro offers world-class social trading tools, including social sentiment and an economic calendar. It is a top choice for professionals, as it has advanced tools and platforms. eToro has limited research and educational materials. 

Fees 

The minimum deposit fee at eToro is $200, while Interactive Brokers doesn’t charge an initial fee. Both brokers follow a transparent fee structure and offer an active trader discount. 

Assets  

Interactive Brokers has 105 forex currency pairs, while eToro has 47 available pairs. Interactive Brokers offers 7400 CFDs, while eToro has 2314 available CFDs. 

Trading platform  

eToro offers an excellent social trading experience with premium platforms. It provides a demo account, a professional app, and a proprietary platform. We recommend eToro to advanced traders, as it has limited educational tools. 

Interactive Brokers offers a beginner-friendly trading experience with desktop and web platforms. It has many educational materials, including webinars, forex education, and advanced trading videos. It is a top choice for traders of all levels of experience. 

Banking services  

Banking services are essential to traders of all levels of experience. eToro has many funding options, including bank wire, credit/debit card, PayPal, and Skrill. Interactive Brokers offers bank wire as its only funding solution. 

Final verdict  

eToro and Interactive Brokers are leading online brokers. Both have advantages and disadvantages, depending on your trading knowledge and skills. Professional traders prefer eToro with its top-tier social trading tools. We recommend Interactive Brokers to new traders because of its comprehensive learning center. 


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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