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. In terms of markets they differ in that eToro provides Stocks and Cryptocurrencies to own. eToro's other markets, like USGFX's are offered as CFDs, where the trader does not own the asset (whether a Stock, a Cryptocurrency or other asset).

They also differ in that USGFX offers MT4 and MT4 and support 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 use social/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 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.
  • 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 being available on the VIP account. All account types have a minimum trade size of 0.01 lots.
  • USGFX provides Trading Central, the Recognia Trading System (which provides trading ideas), analysis, one on one coaching and an Education Center on its website with webinars, seminars, a trading guide and Blog, along with contests.

Markets

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

Cryptocurrencies

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

Spreads

  • eToro's typical spreads are 3 for EUR/USD, 1 for UK100, 0.45 for Gold and 0.05 for US Oil.
  • USGFX offers variable spreads. On the Mini account, EUR/USD is from 2.8, on the Standard account EUR/USD is from 2.2, on the Pro-ECN account EUR/USD is from 1.5 and on the VIP account EUR/USD is from 1.3.
  • USGFX offers Gold spreads from 0.50 on all accounts except VIP, where they are from 0.36. US Oil spreads are from 0.027, plus commission.

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.

Platforms

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

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 supports copy trading on its platform
  • USGFX also supports copy trading by connecting with other social trading platforms
  • eToro has many more markets to trade
  • Both are regulated

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