Written by ForexBrokers.com
In this head to head comparison of eToro vs iFOREX, 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.
eToro, founded in 2007, and iFOREX, established in 1996, are two well-known online brokers. Neither company is publicly traded or operates as a bank. When it comes to regulatory oversight, eToro holds a significant advantage with three Tier-1 licenses, which are considered highly trusted, along with one Tier-2 license. This strong regulatory foundation contributes to eToro’s high Trust Score of 93 out of 99 on ForexBrokers.com, reflecting its reputability and reliability.
In contrast, iFOREX holds only one Tier-1 license and no Tier-2 licenses, leading to a lower Trust Score of 75, indicating an average risk according to ForexBrokers.com. While both platforms offer services to traders, eToro’s combination of a higher Trust Score and more comprehensive licensing suggests a more trustworthy option for those prioritizing regulatory safety and peace of mind in their trading activities.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Year Founded | 2007 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing online brokers eToro and iFOREX, it's important to consider their commissions and fees. eToro is known as a market-maker broker, offering a variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. While eToro's trading fees might not be the lowest available, traders are often drawn to its unique social copy trading platform. With a 4.5-star rating for commissions and fees, eToro ranks 22nd out of 62 brokers, suggesting a favorable user experience.
eToro also features a VIP club for high-balance traders, with five membership tiers ranging from Silver to Diamond. Depending on their tier, VIP members who maintain balances between $5,000 and $250,000 can enjoy benefits like access to Trading Central, reduced withdrawal and deposit fees, and personal account management, enhancing the trading experience.
In contrast, iFOREX does not provide average spread data, which may pose a challenge for traders looking for transparent fee structures. Despite this, it has managed to secure a 3-star rating in the category of commissions and fees. However, iFOREX ranks 60th out of 62 brokers in this category, which might influence the decision-making process for those prioritizing fees and costs.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 |
| Average Spread EUR/USD - Standard | 1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| 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 it comes to the variety of investment options, eToro and iFOREX present distinct contrasts. eToro boasts an impressive catalog with 5,461 tradeable symbols, while iFOREX offers 750. For forex enthusiasts, iFOREX has the edge with 88 tradeable forex pairs compared to eToro's 55. However, eToro provides the broader ability to buy and trade exchange-traded securities on both U.S. and international exchanges, enabling direct investment in popular stocks like Apple and Vodafone. In contrast, iFOREX does not offer direct access to such securities.
Beyond stock trading, eToro stands out by supporting both actual cryptocurrency purchases and cryptocurrency derivatives, whereas iFOREX limits its offerings to cryptocurrency derivatives. Additionally, eToro offers the advantage of copy trading, a feature not available with iFOREX. Given these aspects, eToro is rated five stars for its range of investments, securing the 10th position out of 62 brokers ranked by ForexBrokers.com. iFOREX is rated 3.5 stars, placing it at 41st in the same category, reflecting its more limited range of investment options compared to eToro.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 750 |
| Forex Pairs (Total) | 55 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
eToro and iFOREX both offer proprietary, web-based trading platforms that are developed in-house, but their features differ in key areas. For newcomers or those wanting to test strategies risk-free, eToro provides a free virtual demo account for simulated trading, which iFOREX does not. Enthusiasts of copy trading can turn to eToro, as it offers this feature, allowing you to mimic the trades of successful investors, while iFOREX does not support this option. When it comes to enhancing your trading analysis, eToro presents a much wider array of drawing tools with 161 choices, compared to the 25 available on iFOREX. However, iFOREX offers the unique ability to trade directly from a stock chart, something eToro lacks.
Both platforms do not offer a Windows-based desktop download option, nor support third-party platforms like MetaTrader 4 or 5. In terms of watchlist customization, iFOREX allows for more fields with nine columns, while eToro provides six. When considering their overall trading platforms and tools, eToro is rated higher with 4.5 stars and ranks #8 out of 62 brokers on ForexBrokers.com. iFOREX follows with a 4-star rating and is ranked #54. This suggests that while both platforms serve particular needs, eToro might provide a more feature-rich experience, especially for those interested in demo trading and copy trading functionalities.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 57 |
| Charting - Drawing Tools (Total) | 161 | 25 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
eToro and iFOREX both provide mobile trading apps for iPhone and Android users, but several features differentiate their offerings. eToro stands out with its ability to deliver stock and forex price alerts directly to your device, a feature that iFOREX does not offer. eToro also allows users to sync watchlists between the mobile app and online account seamlessly, ensuring that any changes update across platforms. In contrast, iFOREX lacks this syncing capability. Additionally, eToro provides users with 104 technical studies for charting, far surpassing iFOREX, which has unavailable data for this feature. However, neither platform offers tools to draw trendlines on charts or auto-save drawings, limiting some technical analysis options.
In terms of usability, eToro enables viewing of multiple time frames on charts, ranging from daily to intraday, offering more flexibility compared to iFOREX, which does not support this feature. For traders who appreciate real-time data, eToro allows for the creation of watchlists with real-time quotes, a function not available with iFOREX. In reviews, eToro’s app is highly regarded, earning a rating of 4.5 out of 5 stars and ranking 11th out of 62 brokers, reflecting its user-friendly features and capabilities. Meanwhile, iFOREX receives a 4-star rating and is ranked 55th, which suggests room for improvement in its app functionalities.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | N/A |
| Mobile Charting - Draw Trendlines | No | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
eToro and iFOREX both provide daily market commentary, helping investors stay informed about the latest market trends. However, neither platform offers forex news from top-tier sources like Bloomberg or Reuters. When it comes to technical analysis tools, both eToro and iFOREX include features from Trading Central, giving users access to Technical Analytics. Additionally, both platforms offer sentiment-based trading tools, displaying the ratio of long to short positions across various instruments. Investors can also find an economic calendar on both platforms to stay updated on global news events.
Where eToro truly sets itself apart is with the inclusion of market research from TipRanks, a feature that iFOREX lacks. Despite neither broker offering tools from Acuity Trading, eToro still manages to stand out with its superior research capabilities, earning a 4.5-star rating. iFOREX, while decent, trails behind with a 3.5-star rating for research. Moreover, eToro ranks 13th out of 62 brokers on ForexBrokers.com for research quality, while iFOREX holds a lower spot at 48th, highlighting eToro as a more research-robust platform for traders seeking in-depth market insights.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, eToro clearly takes the lead over iFOREX. eToro provides a comprehensive array of educational materials, including over 10 pieces focused on forex and CFDs, ensuring beginners have access to a wide range of learning tools. They also host online webinars at least once a month, allowing clients to engage with learning content in real time. Additionally, eToro maintains a searchable archive of recorded webinars, making it easy for users to revisit and learn at their convenience. Their educational video offerings are plentiful, with content tailored to both novices and advanced traders. To top it off, eToro includes an investor dictionary with definitions of over 50 investing terms, which is a great resource for learning new concepts and jargon.
On the other hand, iFOREX lags behind in several key areas, limiting the resources available for beginners. Although they offer a selection of beginner-focused educational videos, their overall material on forex and CFDs is less extensive. iFOREX also misses out on providing monthly webinars and does not host a searchable archive of recorded sessions, which reduces the opportunity for continuous learning. Furthermore, they lack an investor dictionary, potentially making it more challenging for newcomers to grasp essential trading terms. eToro's educational offerings are reflected in its high ratings and fifth-place ranking out of 62 brokers in the education category, while iFOREX receives a lower score and ranks 53rd, emphasizing the difference in the commitment to education between the two platforms.
| Feature |
eToro
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. eToro finished with an overall rank of #9, while iFOREX finished with an overall rank of #52.
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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iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 75 |
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eToro allows users to purchase actual cryptocurrencies as well as cryptocurrency derivatives, whereas iFOREX only offers the option to buy cryptocurrency derivatives, not the actual cryptocurrencies.
When comparing online brokers eToro and iFOREX, eToro provides more versatility by offering ACH and SEPA transfers for depositing and withdrawing funds, alongside mutual support for PayPal, Skrill, Visa, Mastercard, and bank wire options available with both platforms.
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 | iFOREX | |
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| Trust Score | 93 | 75 | |
| Winner | check_circle | ||
| Review | eToro Review |
| Broker Screenshots | eToro | iFOREX | |
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| Regulation | eToro | iFOREX | |
|---|---|---|---|
| Trust Score | 93 | 75 | |
| Year Founded | 2007 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| 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 | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 750 | |
| Forex Pairs (Total) | 55 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 | |
| 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 | No |
| Trading Platforms | eToro | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 6 | 9 | |
| Charting - Indicators / Studies (Total) | 104 | 57 | |
| Charting - Drawing Tools (Total) | 161 | 25 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | eToro | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | N/A | |
| Mobile Charting - Draw Trendlines | No | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | No | No |
| Research | eToro | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | eToro | iFOREX | |
|---|---|---|---|
| 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 |
| Overall | eToro | iFOREX | |
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| Trust Score | 93 | 75 | |
| Winner | check_circle | ||
| Review | eToro Review |
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