Are you confused about whether to choose IG vs eToro as a broker for your investing needs?
In this side-by-side comparison, we analyse IG vs eToro to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
IG vs eToro: In a Nutshell
Forex and CFDs trading
IG is a leading Forex and CFD broker. It offers multi-asset class exposure (and Spread Betting for UK clients). IG Group is listed on the London Stock Exchange.
Beginner investors will probably enjoy IG’s intuitive mobile and desktop platforms, while advanced traders will be satisfied with the selection of indicators and charting tools.
The customer service and fees could be improved. Also, the product offering could expand to stocks and ETFs, not only CFDs.
Social trading and commission-free stock trading
eToro is a well-known worldwide fintech startup and the leader in the social trading field (following other people’s trades), with over 30 million users worldwide.
You can also invest in other products through their platform, which is intuitive and simple to use, making it a good choice for beginners. Plus, eToro offers commission-free stock trading (other fees apply).
Opening an account and depositing is easy, and you can even try it out with virtual money (a demo account). On the downside, spreads can be high for some products.
Pros and Cons
IG
Pros
- Advanced trading tools
- No minimum deposit
- List on the FTSE 250 index
- No withdrawal fee
Cons
- Limited product portfolio (mostly CFDs)
- High stock CFD fees
- Inactivity fee after 2 years of no activity
- Complex fee structure
eToro
Pros
- Commission-free stock trading
- Social Trading and other innovative products
- Wide variety of financial products
- Slick, modern, and easy for anyone to use
- Top tier regulators
Cons
- Limited disclosed financial information
- Withdraw and inactivity fees
- Spread, overnight, inactivity, and currency conversion fees higher than average
- Only one currency account (USD) - a currency conversion fee is applied if you deposit in a different currency
- Doesn’t offer bonds, futures, or options
IG vs eToro: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
________________
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.
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.
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
