Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs eToro, 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.
Interactive Brokers, established in 1977, is a publicly traded online broker with a strong trust score of 99 according to ForexBrokers.com. The company is not a bank but is highly regulated with nine Tier-1 licenses, signaling high trust, and two Tier-2 licenses, indicating a trusted status. This significant regulatory oversight and its listing on the stock exchange contribute to the perception of Interactive Brokers as a reliable choice for online trading.
Founded in 2007, eToro is also an online broker, but it is not publicly traded and holds a trust score of 93. Like Interactive Brokers, eToro is not a bank, yet it maintains a good regulatory standing with three Tier-1 licenses and one Tier-2 license. These factors help establish eToro as a trusted option in the online trading arena, though it is slightly behind Interactive Brokers in terms of regulatory credentials and trust rating.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Year Founded | 1977 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When assessing the commissions and fees of Interactive Brokers and eToro, each platform offers distinct advantages catering to different trading needs. Interactive Brokers is highly competitive with its pricing, particularly for forex trading, and does not mark up spreads. Instead, it charges a commission per trade that typically ranges from $16 to $40 per million for round-turn trades. The pricing structure is designed to reward active traders with discounts as trading volume increases. With a commission-equivalent of roughly 0.40 pips in addition to minimal prevailing spreads, Interactive Brokers provides a cost-efficient experience for forex traders. Rated 5 stars for its commissions and fees, Interactive Brokers ranks #2 out of 62 brokers in this category.
eToro, on the other hand, offers a straightforward user experience with its market-maker model and a typical variable spread of 1 pip on the EUR/USD. While its spreads are slightly above the industry average, eToro's appeal lies in its social copy trading platform features, which attract retail traders interested in engaging with a community and mirroring successful strategies. Additionally, eToro's VIP club provides a tiered membership with benefits that include discounted fees and personalized support. Although eToro is rated 4.5 stars for commissions and fees, it ranks #22, which reflects its focus on other value-added services beyond just competitive spreads.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 |
| Average Spread EUR/USD - Standard | 0.59 | 1 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and eToro both offer a variety of investment options that cater to different types of traders. Both platforms allow for forex trading, offering contracts for differences (CFDs) and spot contracts. In terms of tradeable symbols, Interactive Brokers provides a broader selection with 8,500 options, compared to eToro's 5,461. For those interested in forex pairs, Interactive Brokers leads again with 90 pairs available versus eToro's 55 pairs. Both brokers facilitate trading in exchange-traded securities, allowing users to invest in companies like Apple on U.S. exchanges and international firms such as Vodafone.
When it comes to cryptocurrency, both Interactive Brokers and eToro enable users to buy actual cryptocurrencies, as well as derivatives. However, one key distinction is that eToro offers advanced copy trading features, a service Interactive Brokers does not have. Despite these differences, both have received commendable ratings of five stars for their range of investments. In terms of rankings, Interactive Brokers is the top choice, holding the #1 position in the Range of Investments category according to ForexBrokers.com, whereas eToro is ranked at #10. This comparison highlights each platform's strengths, helping investors choose the one that best aligns with their trading preferences.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 5461 |
| Forex Pairs (Total) | 90 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | Yes |
| 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 of Interactive Brokers and eToro, both brokers offer proprietary platforms that cater to different needs. Interactive Brokers provides a comprehensive Windows-based desktop platform and a web-based platform, while eToro focuses on a versatile web-based platform. Both brokers enable practice trading with virtual demo accounts, but eToro stands out with its copy trading feature, which is absent from Interactive Brokers. Neither platform supports MetaTrader 4 or MetaTrader 5, as well as DupliTrade and ZuluTrade.
In terms of charting tools, Interactive Brokers offers 85 drawing tools and the unique ability to trade directly from the stock chart, while eToro offers a wider range of 161 drawing tools. However, eToro does not support direct trading from its charts. Interactive Brokers allows for extensive customization in watch lists with 659 available fields, compared to eToro's 6 fields. Overall, Interactive Brokers earns a 5-star rating for its trading platforms and tools, ranking 3rd out of 62 brokers on ForexBrokers.com. In contrast, eToro holds a commendable 4.5-star rating, ranked 8th in the same category.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 104 |
| Charting - Drawing Tools (Total) | 85 | 161 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 659 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and eToro provide user-friendly smartphone apps for both iPhone and Android devices, catering to traders on the go. These apps from both platforms enable users to set stock and forex price alerts, helping them stay informed of market movements. Additionally, both brokers offer the convenience of watchlist symbol syncing, allowing users to seamlessly manage their watchlists across mobile and online platforms. However, when it comes to technical studies available for charting, eToro edges out with 104 offerings compared to Interactive Brokers' 97. While both apps allow users to view multiple time frames on charts, only Interactive Brokers provides the functionality to draw trendlines on these charts.
Although neither app automatically saves chart drawings, creating watchlists with real-time quotes is possible on both platforms, keeping investors updated with live market data. In terms of user ratings and expert evaluations, Interactive Brokers scores a full 5 stars, ranking #4 out of 62 brokers according to ForexBrokers.com for mobile trading apps. eToro follows with a 4.5-star rating and is ranked #11. Despite slight differences in features and ratings, both apps offer solid trading experiences that accommodate a variety of trading needs for both stock and forex traders.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 104 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and eToro both offer valuable resources for those seeking daily market commentary, ensuring traders have access to timely insights. However, when it comes to obtaining forex news from top-tier sources, Interactive Brokers stands out by delivering updates from renowned platforms like Bloomberg and Reuters, a feature eToro lacks. Both brokers provide technical tools from Trading Central and sentiment-based tools to analyze market positions, catering to the needs of technical traders. Interestingly, neither platform integrates Autochartist tools, but they both collaborate with TipRanks, allowing users to access detailed market research.
While both Interactive Brokers and eToro maintain an economic calendar showcasing global events crucial for traders, Interactive Brokers edges ahead by offering additional research services through Acuity Trading, which is absent from eToro's offerings. This extensive suite of research tools may contribute to Interactive Brokers earning a five-star research rating, positioning itself third among 62 brokers according to ForexBrokers.com. In contrast, eToro holds a respectable 4.5-star rating, ranking 13th. Overall, both brokers equip their users with essential tools and insights, but Interactive Brokers may offer a slight advantage for those prioritizing comprehensive market research.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered to beginners by Interactive Brokers and eToro, both platforms excel in providing a comprehensive learning experience. Interactive Brokers shines with a wide range of educational materials, including over ten educational pieces focused on forex or CFDs, a monthly schedule of interactive client webinars, and a searchable archive of past webinars. Beginners will also appreciate the investor dictionary with definitions for over 50 investing terms, along with more than ten beginner-specific educational videos to help ease the learning curve. Advanced traders aren't left out either, as there are also numerous in-depth videos catering to experienced investors. Interactive Brokers has been recognized for its strong educational offerings with a five-star rating, placing it third out of 62 brokers for education by ForexBrokers.com.
eToro, on the other hand, matches Interactive Brokers in several key aspects, aiming to make the journey for novice traders as smooth as possible. It features an array of over ten educational pieces about forex or CFDs, along with regular client webinars conducted on a monthly basis. Additionally, these webinars are archived and searchable for those who prefer to learn at their own pace. eToro also supplies a solid foundation for newbies with over ten beginner-focused trading videos and an investor dictionary containing more than 50 investing terms. Furthermore, advanced traders can benefit from eToro's suite of videos designed for those who already have trading experience. While eToro proudly offers these educational tools, it holds a slightly lower rating of 4.5 stars and is ranked fifth in the education category by ForexBrokers.com.
| Feature |
Interactive Brokers
|
eToro
|
|---|---|---|
| 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 Interactive Brokers is better than eToro. Interactive Brokers finished with an overall rank of #2, while eToro finished with an overall rank of #9.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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eToro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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Interactive Brokers and eToro both offer the flexibility to purchase actual delivered cryptocurrency as well as cryptocurrency derivatives, providing comprehensive options for traders interested in crypto investments.
Interactive Brokers and eToro both offer ACH and SEPA transfers, as well as bank wire options for depositing and withdrawing funds, but eToro distinguishes itself by additionally providing PayPal, Skrill, and Visa/Mastercard options, which are not available with Interactive Brokers.
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 | Interactive Brokers | eToro | |
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| Trust Score | 99 | 93 | |
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| Review | Interactive Brokers Review | eToro Review |
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| Regulation | Interactive Brokers | eToro | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1977 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | eToro | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | eToro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | eToro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 5461 | |
| Forex Pairs (Total) | 90 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | Yes | |
| 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 | Interactive Brokers | eToro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | eToro | |
|---|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | eToro | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | eToro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 6 | |
| Charting - Indicators / Studies (Total) | 155 | 104 | |
| Charting - Drawing Tools (Total) | 85 | 161 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | eToro | |
|---|---|---|---|
| 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 | 97 | 104 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Interactive Brokers | eToro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | eToro | |
|---|---|---|---|
| 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 | Interactive Brokers | eToro | |
|---|---|---|---|
| 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 | Interactive Brokers Review | eToro Review |
| Overall | Interactive Brokers | eToro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | eToro Review |
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