Alternatives to eToro
Written By
James Barra
Written By
James Barra
Edited By
Jemma Grist
Edited By
Jemma Grist
Fact Checked By
William Berg
Fact Checked By
William Berg
Updated
Jul 2, 2024
Here we list the best alternatives to eToro. Traders that are looking for brokers that are similar to eToro on specific features should check the detailed comparison table below.
Top 3 Alternatives to eToro
These brokers are the best alternatives to eToro that also accept traders from your location. The brokers are listed in order of similarity in terms of markets and features.- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
Detailed Comparison
| Feature | eToro | IG | Interactive Brokers | DNA Markets |
|---|---|---|---|---|
4.1
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4.4
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4.3
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3.5
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| Promotions | ||||
| Instruments | Stocks, ETFs, Options, Crypto | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $10 | $0 | $0 | $100 |
| Payment Methods |
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| Minimum Trade | $10 | 0.01 Lots | $100 | 0.01 Lots |
| Trading Platforms |
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| Regulator | FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA | ASIC |
| Margin Trading | Yes | Yes | Yes | Yes |
| Margin Rate | 1% | 2.5% | 1.55 - 2.59% | |
| STP Account | Yes | No | Yes | No |
| ECN Account | No | No | No | Yes |
| DMA Account | No | Yes | Yes | No |
| MAM Account | No | No | Yes | No |
| PAMM Account | No | No | No | No |
| LAMM Account | No | No | No | No |
| Demat Account | No | No | No | No |
| AI / Machine Learning | Yes | No | Yes | No |
| Robo Advisor | No | Yes | Yes | No |
| Negative Balance Protection | Yes | Yes | Yes | Yes |
| Market Maker | Yes | Yes | No | No |
| P2P Trading | No | No | No | No |
| Spot Trading | Yes | Yes | Yes | No |
| Mobile Apps | iOS & Android | iOS & Android | iOS & Android | iOS & Android |
| Trading App | eToro bring their social trading platform to your mobile, enabling you to copy trades, manage your account and invest via Android or iOS. Trade the key forex pairs from the palm of your hand. |
IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested. |
The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform. |
Our initial disappointment with DNA Markets’ lack of a proprietary mobile app was quickly overshadowed by the impressive functionality of the MT4 and MT5 mobile apps. These platforms deliver a seamless trading experience akin to their desktop counterparts, with smooth charting and customizable features optimized for mobile use. The addition of push notifications and plentiful daily news accessible directly from your phone ensures you’re kept in the loop with key market updates. |
| Auto Trading | Automate your trades via CopyTrader - follow profitable traders. Open and close trades automatically when they do. | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | Capitalise.ai & TWS API | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | Yes | No | No | Yes |
| Copy Trading Platform | eToro continues to deliver one of the best proprietary copy trading platforms on the market, at no additional cost for eToro clients. The web-based platform features a user-friendly and interactive layout and also comes with a community chat, making it a stand-out choice for beginners. The latest 'Live Trades' feature also offers real-time insights into the securities being bought by the platform's popular investors. | DNA Markets offers Signal Start, a user-friendly copy trading solution. The tool is easy to use and new traders enjoy the first 3 months subscription-free. On the negative side, it lacks the social trading features you get with more comprehensive apps like eToro. | ||
| Social Trading | Yes | No | No | No |
| Trade Signals | Yes | Yes | Signal Start | |
| VPS Hosting | No | Yes | No | No |
| Tournaments | No | No | No | No |
| Demo Competitions | No | No | No | No |
| Ethical Investing | Yes | Yes | Yes | No |
| Custodial Account | No | No | No | No |
| Guaranteed Stop Loss | No | Yes | No | No |
| Inactivity Fee | $10 | $12 | $0 | $0 |
| Islamic Account | Yes | No | No | No |
| Account Currencies |
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| Stock Exchanges |
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| Commodities |
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| CFD Trading | You can trade CFDs on over 3,000 assets and access rich market data through the integrated TradingView charts. There are also comprehensive free learning tools available for beginners via the eToro Academy, including dedicated CFD trading courses and guides. | IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience. | Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones. | DNA Markets offers a recently enhanced suite of 800+ CFDs covering stocks, indices, forex, commodities and cryptos, providing opportunities to speculate on rising and falling prices. There are no restrictions on strategies with leverage up to 1:30 (Australia) or 1:500 (rest of world). |
| Leverage | 1:30 (Retail), 1:250 (Pro) | 1:50 | 1:500 | |
| FTSE Spread | 1.5 | 1.0 | 0.005% (£1 Min) | 1.7 |
| GBPUSD Spread | 1.9 | 0.9 | 0.08-0.20 bps x trade value | 1.0 |
| Oil Spread | 0.05 | 2.8 | 0.25-0.85 | 1.5 |
| Stocks Spread | 0.57 (Apple) | 0.02 | 0.003 | 1.0 cent + $0.02 per share, per side (Apple) |
| Forex Trading | An above-average selection of 55 currencies are available with reasonable spreads averaging 0.9 pips on EUR/USD during peak hours. Aspiring traders can continuously hone their forex strategies by switching between demo mode and their live account any time, with full access to the broker's 100+ technical indicators. | IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD. | IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders. | DNA Markets continues to deliver an excellent environment for forex traders with 50+ currency pairs and low spreads from 0.0 pips on the EUR/USD during tests. The MetaTrader 4 platform, available on desktop, web and mobile, was also designed specifically for forex trading. |
| GBPUSD Spread | 1.9 | 0.9 | 0.08-0.20 bps x trade value | 1.0 |
| EURUSD Spread | 0.9 | 0.8 | 0.08-0.20 bps x trade value | 1.0 |
| EURGBP Spread | 1.3 | 0.9 | 0.08-0.20 bps x trade value | 1.0 |
| Assets | 55 | 80+ | 100+ | 50+ |
| Crypto Trading | eToro leads the way in cryptocurrency trading, offering competitive spreads and a fixed 1% commission, plus their own wallet service. The broker offers a vast list of 95+ tokens which is continually being updated. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more | IG's modest selection of 11 crypto CFDs trails top crypto brokers like Vantage which offers 40+ tokens. That said, it stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market. | IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures. | You can trade a strong range of 120+ cryptos 24/7, surpassing alternatives like Vantage with its 40+ tokens. That said, the spread from 170 on Bitcoin is significantly higher than the cheapest crypto brokers. |
| Crypto Spread | BTC 1% | Variable | 0.12%-0.18% | $28 (Bitcoin) |
| Crypto Coins |
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| Crypto Lending | No | No | No | No |
| Crypto Mining | No | No | No | No |
| Crypto Staking | No | No | No | No |
| Crypto Auto Market Maker | No | No | No | No |