eToro vs FOREX.com Comparison

eToro vs FOREX.com Comparison

eToro vs FOREX.com Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200Web Trader & Apps1000+FCA, ASIC, CySEC
$50MT4, Advanced Platform & Apps, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA

eToro and FOREX.com Comparison

Both of these brokers allow both discretionary trading (where the trader makes the decisions) and automated trading, in different ways.

eToro is a social investment network. It integrates social trading with other charting tools and other analysis. So the trader can gather information themselves and inform their trading with the views and activities of other traders on the network. To automate this process, eToro allows social copy trading, where the traders on other traders are copied into their account.

FOREX.com offers MT4 and also VPS hosting, so the trader can automate strategies and have them run 24/6. However it also enables another feature of MT4, which is copy trading. It additionally offers its Advanced Platform and a web trader, which provide functionality for discretionary trading.

So the difference is that FOREX.com has a range of platform with varying functionality, while eToro has one, which has various functionality for traders.

eToro has more markets than FOREX.com and both offer a range of cryptocurrencies. However when bought, the trader owns the cryptocurrency at eToro. At FOREX.com they are offered as CFDs. This means that the trader does not own the cryptocurrency, rather speculates on its price movement.

Both are regulated by the FCA in the United Kingdom and the ASIC in Australia. eToro is additionally regulated by the CySEC in Cyprus. FOREX.com is additionally regulated by the SFC in Hong Kong, the CFTC in the United States, the CIMA in the Cayman Islands and the FSA in Japan.

Quick comparison

eToro offers tools based around its network of traders, providing social trading and copy trading. It supports discretionary and automated (social) trading. By providing MT4, FOREX.com also allows copy trading and trading with robots. FOREX.com also offers other platforms, aimed at discretionary trading.

Minimum deposit and account types

The minimum deposit for eToro is $200. The minimum deposit for FOREX.com is $/€/£50.

  • eToro is a Social Trading Network offering CFDs, which supports trading, social trading and auto trading by copying other traders (or being copied) and provides products based on this network. The minimum trade size is 0.01 lots.
  • FOREX.com offers CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.

Markets

  • eToro offers Forex, Indices, Metals, Energy, Cryptocurrencies, Bonds, Stocks and ETFs, with 1000+ available.
  • On The Advanced Platform, FOREX.com offers Forex, Indices, Metals, Energy, Cryptocurrencies, Stocks and Soft Commodities, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Metals, Energy and Soft Commodities, with 110+ available.

Cryptocurrencies

  • eToro offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, NEO, IOTA, EOS, Cardano, Stellar, Ethereum Classic, TRON, Zcash and Binance Coin.
  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash CFDs.

Spreads and leverage

  • eToro's typical spreads are 3 for EUR/USD, 1 for UK100, 0.45 for Gold and 0.05 for US Oil.
  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.

The maximum leverage for eToro is . The maximum leverage for FOREX.com (FCA regulated) is .

Platforms

eToro offers a web trader and apps on tablet and mobile. FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps.

Comparison summary

  • eToro offers a platform which integrates social trading with discretionary trading
  • eToro also allows trading automation with copy trading
  • FOREX.com offers a range of platforms
  • Its platform provides for discretionary trading
  • FOREX.com also offers MT4, with support for trading with robots and copy trading
  • Both support discretionary trading and automated social trading, but FOREX.com also supports automated trading strategies
  • eToro has more markets
  • FOREX.com has a lower minimum deposit
  • Both are FCA regulated in the United Kingdom

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