Written by ForexBrokers.com
In this head to head comparison of eToro vs FXCM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2007, eToro has become a prominent online trading platform, known for its social trading features. It holds a ForexBrokers.com Trust Score of 93, placing it in the highly trusted category. eToro is not publicly traded and operates with 3 Tier-1 licenses, showcasing its strong regulatory standing. Additionally, it holds 1 Tier-2 license, further supporting its reputable position.
Established in 1999, FXCM offers a well-established presence in the trading world, being publicly traded and holding a slightly superior ForexBrokers.com Trust Score of 95. FXCM bolsters its credibility with 4 Tier-1 licenses and 2 Tier-2 licenses. While both brokers are not banks, FXCM's broader regulatory coverage and public listing might appeal to those seeking a well-trusted and transparently regulated trading partner.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Year Founded | 2007 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | No |
| Tier-1 Licenses | 3 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of online brokers eToro and FXCM, both have their unique offerings but cater to different types of traders. eToro, a market-maker broker, typically features a variable spread of 1 pip on the EUR/USD, which is slightly higher than the industry average. This broker is particularly attractive for its social copy trading features rather than its trading fees. With a 4.5 out of 5 stars rating for commissions and fees, eToro ranks #22 out of 62 brokers on ForexBrokers.com. For those with significant account balances, eToro offers a VIP Club with five membership tiers ranging from Silver to Diamond, providing perks such as discounted withdrawal fees and account management services.
FXCM also presents a slightly higher-than-average pricing structure for forex trading. The standard account's typical EUR/USD spread was 0.78 pips in May 2024 for its EU, UK, and Australia offerings, with St. Vincent and the Grenadines entity averaging at 1.38 pips, which is above the industry norm. A notable option for traders is FXCM’s commission-based accounts that show an average spread of 0.28 pips after excluding commissions. With a 4-star rating in the commissions and fees category, FXCM is ranked #24 by ForexBrokers.com, just two spots below eToro. Their Active Trader Rebate Program offers discounts, although the program's availability varies by location.
Both eToro and FXCM cater to distinct trader needs. eToro appeals with social trading tools and VIP accounts, while FXCM offers competitive spreads for high-volume traders through its active trader program. Each broker has different entry requirements and perks, with eToro focusing on social engagement and FXCM on active trading discounts. Understanding these details can help traders choose the platform that best aligns with their trading style and volume needs.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | Starts from $50 |
| Average Spread EUR/USD - Standard | 1 | 0.78 |
| All-in Cost EUR/USD - Active | N/A | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing eToro and FXCM in terms of their range of investments, eToro stands out with a significantly larger selection of tradeable symbols and forex pairs. eToro offers an impressive 5,461 tradeable symbols, including 55 forex pairs, while FXCM provides 440 tradeable symbols, featuring 43 forex pairs. In addition to CFDs, eToro allows users to trade exchange-listed securities on both U.S. and international exchanges, letting investors buy popular stocks like Apple and Vodafone. FXCM, on the other hand, does not offer the option to directly trade exchange-listed securities outside of CFDs. Both platforms support copy trading and provide access to cryptocurrency derivatives; however, only eToro offers the ability to purchase actual cryptocurrencies.
eToro's broader range of investment options has earned it a higher rating for Range of Investments, with five stars compared to FXCM's 3.5 stars. ForexBrokers.com ranks eToro 10th out of 62 brokers for their range of investments, a clear indicator of the platform's vast offering compared to FXCM, which is ranked 47th. This comprehensive selection makes eToro a strong contender for those looking to explore a variety of investment opportunities, from traditional stocks to emerging cryptocurrency markets.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 440 |
| Forex Pairs (Total) | 55 | 43 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by eToro and FXCM, both brokers have their unique strengths. Both eToro and FXCM offer free virtual demo accounts, allowing users to practice trading risk-free. Additionally, each broker provides its own proprietary platform built in-house, catering to different trading preferences. While eToro skips a traditional Windows-based desktop platform, FXCM does offer this option, favoring users who prefer desktop trading. Both brokers support web-based platforms, providing flexibility for traders to access their accounts through a browser.
eToro and FXCM both cater to social traders by offering copy trading capabilities, although FXCM expands its offerings with ZuluTrade, which is not available on eToro. FXCM supports the well-known MetaTrader 4, while eToro does not support either MetaTrader 4 or 5. In terms of charting tools, eToro provides an impressive 161 drawing tools, far surpassing FXCM’s 10. However, FXCM allows traders to execute trades directly from stock charts, a feature eToro lacks. Regarding watch lists, FXCM offers more customization with 13 columns compared to eToro's 6. Ultimately, both platforms receive strong user ratings, with FXCM scoring 5 stars and eToro close behind with 4.5 stars, ranking them 6th and 8th respectively in ForexBrokers.com's Trading Platforms and Tools category.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 104 | 115 |
| Charting - Drawing Tools (Total) | 161 | 10 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both eToro and FXCM are on par with availability for iPhone and Android users. Each app provides essential features like stock and forex price alerts and syncing watchlists between the mobile app and the client's online account. Charting capabilities are where these platforms diverge; eToro offers 104 technical studies, surpassing FXCM's 59. While eToro does not allow drawing trendlines on charts or auto-saving chart drawings, FXCM includes both these features. However, both let you view different time frames on stock or forex charts and create watchlists with real-time quotes.
Despite these differences, eToro and FXCM share the same user rating score of 4.5 stars for mobile apps. Yet, their rankings by ForexBrokers.com differ, with eToro positioned at #11 and FXCM at #16 out of 62 brokers. This suggests that users appreciate both apps, but eToro gains a slight edge in overall mobile trading app performance, potentially due to its broader range of technical studies available for charting enthusiasts.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 104 | 59 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both eToro and FXCM provide daily market commentary, ensuring that traders have consistent updates on market trends. While FXCM distinguishes itself by offering forex news from top-tier sources like Bloomberg and Reuters, eToro falls behind in this aspect. However, both brokers offer tools from Trading Central, enhancing analysis for users through technical and fundamental insights. Additionally, each provides sentiment-based trading tools, enabling traders to gauge market positions across various instruments. A shared strength is the provision of market research from TipRanks, adding another layer of valuable information for informed decision-making.
Despite similarities in some features, FXCM edges ahead in rankings with an 11th position, compared to eToro's 13th place in ForexBrokers.com's Research category. Both brokers receive a solid 4.5-star rating for their research offerings, showcasing their strong market analysis capabilities. They each provide an economic calendar, allowing users to track global news events that could impact trading decisions. Yet, when it comes to using additional research tools from Acuity Trading, neither broker offers this, which could be a consideration for those seeking more diverse analytical tools.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners from online brokers eToro and FXCM, both platforms offer a comprehensive set of tools designed to educate newcomers in forex and CFD trading. Each broker provides over ten educational pieces such as articles, videos, and archived webinars, specifically focusing on forex or CFDs. Furthermore, both eToro and FXCM host monthly online educational webinars and maintain access to a searchable archive of recorded sessions. Such resources can help traders learn at their own pace and revisit valuable content as needed. For those seeking more structured learning, both companies provide over ten videos tailored to beginners, as well as advanced topics for seasoned traders.
In addition to the multimedia offerings, both eToro and FXCM include an investor dictionary with over 50 key investing terms, simplifying complex jargon for newcomers. Rated at 4.5 stars each for education, both brokers have garnered commendable reviews. However, in the rankings for educational resources by ForexBrokers.com, eToro is positioned at number 5 out of 62 brokers, whereas FXCM holds the 14th spot. This discrepancy may guide individuals in their decision-making process, although both platforms clearly prioritize education for their clients.
| Feature |
eToro
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that eToro is better than FXCM. eToro finished with an overall rank of #9, while FXCM finished with an overall rank of #15.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
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FXCM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 95 |
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eToro offers the ability to buy both actual delivered cryptocurrencies and cryptocurrency derivatives, while FXCM allows only the purchase of cryptocurrency derivatives, not the actual cryptocurrencies themselves.
Both eToro and FXCM provide versatile funding options for their users, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, making them equally accessible for online trading transactions.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | eToro | FXCM | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | eToro Review | FXCM Review |
| Broker Screenshots | eToro | FXCM | |
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| Regulation | eToro | FXCM | |
|---|---|---|---|
| Trust Score | 93 | 95 | |
| Year Founded | 2007 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 4 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | eToro | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 440 | |
| Forex Pairs (Total) | 55 | 43 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | eToro | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 0.78 | |
| All-in Cost EUR/USD - Active | N/A | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | FXCM | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | eToro | FXCM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | eToro | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 13 | |
| Charting - Indicators / Studies (Total) | 104 | 115 | |
| Charting - Drawing Tools (Total) | 161 | 10 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 104 | 59 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | FXCM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | FXCM | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | eToro Review | FXCM Review |
| Overall | eToro | FXCM | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | eToro Review | FXCM Review |
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