eToro vs USGFX Comparison

Compare eToro vs USGFX

eToro vs USGFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200Web Trader & Apps1000+ASIC, FCA, CySEC
$100MT4, MT560+ASIC

eToro vs USGFX Comparison

Both of these brokers offer Forex trading. They have a range of other markets. Differences in terms of markets offered include that eToro provides Stocks and Cryptocurrencies to own (at FCA and CySEC regulated eToro). eToro's other markets, like USGFX's are offered as CFDs, where the trader does not own the market (whether a Stock, a Cryptocurrency or other market).

They also differ in that USGFX offers MT4 and MT5 and supports trading with automated strategies. eToro is primarily a social investment network, with one platform supporting this. What that means is that eToro allows the trader to access information and input from other traders to help inform their trading.

In addition to this social trading, eToro allows the trader to fully automate, not with robots, but by having the trades of another trader on the network, copied into their account (i.e. copy trading). This (along with charting tools) is available on eToro platform. However USGFX also allows the trader to social and copy trade, by connecting with ZuluTrade or Myfxbook. eToro additionally allows the trader to thematically invest.

Both brokers are regulated by the ASIC in Australia. eToro is regulated by the FCA in the United Kingdom and the CySEC in Cyprus.

Quick comparison

eToro offers one platform, USGFX offers two platforms (MT4 and MT5), supports trading with robots and allows connection with other platform to social trade. On its platform, eToro supports social trading (including copy trading) as well as discretionary trading.

Minimum deposit and account types

The minimum deposit for eToro is $200. The minimum deposit for USGFX is $100.

  • eToro is a Social Trading Platform and Network which supports trading, social trading as well as auto trading by copying other traders (or being copied) and provides products based on this network. eToro offers the eToro Club, which is a tiered program with additional features depending on account equity (which can include personalised service and event invitations), starting at $5000 (Silver) and going up to Diamond ($250,000). The minimum trade size is 0.01 lots.
  • USGFX offers four account types. These are Mini, Standard, VIP and Pro-ECN. The minimum deposit for the Mini account is $100, the minimum deposit for the Standard account is $10,000, and the minimum deposit for both the VIP and Pro-ECN accounts are $50,000. The different account types can offer lower spreads, with the lowest available on the VIP account. UGSFX support social and copy trading via ZuluTrade and Myfxbook. All account types have a minimum trade size of 0.01 lots.
  • USGFX provides Trading Central, the Recognia Trading System (which offers trading ideas), analysis, an economic calendar and an Education Center on its website with webinars, seminars, a trading guide and Blog and contests. A minimum deposit of $10,000 provides access to the Trader's Club which offers features including personalised coaching, market research and commentary, premium trading tools and services and structured education.

Markets

  • eToro offers Forex, Indices, Energy, Cryptocurrencies, Metals, Soft Commodities, Stocks, Bonds and ETFs, with 1000+ available.
  • USGFX offers Forex, Indices, Energy, Cryptocurrencies and Metals, with 60+ available.

Cryptocurrencies

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

Spreads

eToro provides Forex spreads from 3 (typical). USGFX offers Forex spreads from 1.3 (variable).

Leverage

  • The maximum leverage for eToro is .
  • USGFX's maximum leverage is 500:1, except on the Pro-ECN account where it is 100:1.

Commissions

  • eToro does not charge Forex commissions.
  • USGFX does not charge commissions for Forex or Precious Metals. It does charge commissions of $5 per lot per side for CFDs.

Online trading platforms

eToro offers a web trader and apps on tablet and mobile. USGFX provides MT4 and MT5.

Why eToro or USGFX ?

Traders who want a user friendly platform with social and copy trading tools can find such a platform at eToro. Traders can also access social and copy trading at USGFX via Myfxbook and ZuluTrade. USGFX is an MT4 and MT5 broker and offers a range for tools to support traders and is an STP/ECN broker which allows the use of EAs (online trading robots). eToro has considerably more markets to trade.

Comparison summary

  • eToro offers a web trading platform and apps
  • eToro is a social investment network, supporting social and copy trading and thematic investing
  • USGFX supports trading with robots
  • eToro has social and copy trading on its platform
  • USGFX also allows social and copy trading by connecting with social and copy trading platforms
  • eToro has many more markets to trade

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