Interactive Brokers vs eToro | Comprehensive Comparison

By
July 17, 2023

In the rapidly evolving world of online trading, choosing the right platform can be daunting. It’s a high-stakes decision that can significantly impact your trading experience, investment potential, and the security of your assets. Two platforms frequently find themselves in the spotlight are Interactive Brokers and eToro.

The significance of this choice prompts a thorough examination; hence, Traders Union revealed Interactive Brokers vs eToro and offers an in-depth comparison between these two giants in the industry, laying out all you need to know to make an informed decision.

Features of eToro and Interactive Broker compared

Experts from Traders Union have carefully compared the key features of eToro and Interactive Brokers, ranking them on several aspects:

  • Overall Performance: eToro holds a close second place with a score of 4.8, while Interactive Brokers lead slightly with a score of 4.9.
  • Regulation: Both platforms take security seriously and score a perfect 5 in regulatory compliance.
  • Fees: eToro ranks 4.7, while Interactive Brokers again takes the lead with 4.9.
  • Trading Assets: Interactive Brokers excel with a perfect score, with eToro just behind with a score of 4.9.
  • Investment Instruments: eToro stands ahead in this category with a score of 5, whereas Interactive Brokers score 4.2.
  • Platforms and Charting Tools: Interactive Brokers maintain a top spot with a score of 5, while eToro scores 4.1.
  • Deposit and Withdrawal: eToro scores 4.5, and Interactive Brokers trails slightly with 4.1.
  • Research and Education: eToro excels in research with a perfect score, while Interactive Brokers score 4.7. In education, Interactive Brokers lead with 4.5, and eToro ranks at 4.3.
  • Support: Both platforms tie in with a score of 4.2.
  • Bonuses: eToro has a low score of 1, while Interactive Brokers ranks significantly higher with a score of 3.1.

eToro vs Interactive Brokers: Pros and cons

To provide a comprehensive perspective, Traders Union experts highlight the pros and cons of eToro and Interactive Brokers:

  • eToro Pros: Mobile app for convenient trading, highly regulated platform, a fixed withdrawal fee of $5 USD, access to copy trading service and ready-made portfolios, funds held at licensed US banks.
  • eToro Cons: Customer support can only be contacted by tickets.
  • Interactive Brokers Pros: Access to 135 markets in 33 countries, 30.000+ trading instruments, regulated in the US, UK, and eight other countries, advanced trading platform, free stocks for registration, low fees, and low margin rates.
  • Interactive Brokers Cons: Long and complex registration procedure.

eToro vs Interactive Brokers: Safety and regulation

Traders Union experts confirm that both eToro and Interactive Brokers are regulated by reputable authorities. eToro is regulated in the US, Great Britain, Cyprus, Australia, and Seychelles. On the other hand, Interactive Brokers is regulated in numerous jurisdictions, including the US, Great Britain, Ireland, Hungary, Australia, Hong Kong, India, Japan, Singapore, and more.

eToro vs Interactive Brokers: Trading conditions

In terms of trading conditions, both eToro and Interactive Brokers cater to a variety of trader needs. eToro requires a minimum deposit of $50 and offers a leverage of 1:30 on futures. Interactive Brokers do not require a minimum deposit and offer variable leverage of 1-50. The range of supported markets and trading assets is vast in both platforms, with eToro focusing on Forex, Stocks, Indices, Commodities, and Crypto, and Interactive Brokers offering access to numerous markets, including Stocks, Forex, ETFs, Mutual Funds, Bonds, and more.

In addition to the Interactive Broker vs eToro, Traders Union has also reviewed the 4XC broker. To read a detailed and insightful review, please visit the official website of Traders Union.

Conclusion

This in-depth comparison by Traders Union underscores the unique strengths and weaknesses of eToro and Interactive Brokers. Both platforms cater to different trading needs and preferences, so the choice depends mainly on your trading requirements and risk tolerance. As you decide, consider the features, regulations, safety, trading conditions, and fees. Well-informed decisions should underpin your journey into trading. For more insightful comparisons and in-depth reviews, visit the official website of Traders Union and equip yourself with the knowledge needed for successful trading.