Mitrade vs eToro

vs
Mitrade vs eToro Comparison Table 2024
Mitrade eToro
3.5
4.1
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

MiTrade is a Australian CFD and forex broker with top-tier regulation from ASIC. The broker offers zero minimum deposit requirement, 24/5 customer support and a sleek proprietary platform. The brand has been recognized with global awards and has gained a client base of over 2.4 million.

eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. CFDs are not available in the US Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail accounts lose money.

51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Customer Reviews
4
Bonus Offer
$50 welcome bonus
Comment by Reviewer
"Based on my extensive tests, I think MiTrade is a good choice for novice investors looking for hundreds of instruments, educational content and an award-winning bespoke trading platform." "eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."
Pros
  • I think the online education courses, real-time market news and expert analysis resources are extensive and will be useful for both beginners and intermediate traders
  • The intuitive trading terminal and mobile app with in-built technical indicators, custom charting and trend analysis are notable advantages for technical traders
  • I appreciate the zero minimum deposit requirement, plus free deposits and withdrawals and no hidden charges - ideal for traders on a budget
  • I'm pleased to see top-tier regulatory oversight from ASIC with negative balance protection and segregated client funds for some clients
  • I found a decent list of international payment methods including POLi, Skrill, Neteller, wire transfer and credit/debit card
  • Responsive customer support is also available 24/5 including live chat and an online contact form
  • The copy trading app facilitates a best-in-class social environment, with an engaging social feed and community chat
  • The broker's services are great for beginners, with commission-free stock trading, a low minimum deposit and an unlimited demo
  • Charts are powered by TradingView and offer strong technical analysis features, including 9 chart types and over 100 indicators
  • There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
  • eToro has bolstered its investment offering, most recently with new crypto assets, now offering over 90 digital currencies
  • The web platform and mobile app perform better in user reviews and app rankings than top competitors, including AvaTrade
  • Top copy traders can receive annual payments up to 1.5% of assets under copy in the broker's Popular Investor Program
  • Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
  • eToro is a world-renowned brand with top-tier global regulation and a 25M+ user community
Cons
  • There is only one choice of platform which I think will put MiTrade at a disadvantage compared to other brands
  • It's disappointing that there are no advanced tools including copy trading and a VPS
  • I'm a little hesitant that global traders will be registering with the offshore entities
  • The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
  • There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
  • There is a $30 minimum withdrawal amount and a $5 fee, which will affect novices with low capital
  • Traders will face currency conversion fees for account denominations other than USD
  • There are limited contact methods aside from the in-platform live chat
Awards
  • Best Cryptocurrency Trading Platform 2022 - Finder
  • Education Materials/Program 2022 - Investment Trends
  • Best Copy Trading Platform 2021 - Ultimate Fintech Awards
  • Best Multi-Asset Trading Platform 2021 - Ultimate Fintech Awards
  • Best Stockbroker 2021 - Ultimate Fintech Awards
  • Best Social Trading Platform 2019 - ADVFN International Financial Awards
Instruments
CFDs, Forex, Stocks Stocks, ETFs, Options, Crypto
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Trading Platforms
  • Own
  • eToro Web
  • CopyTrader
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots $10
Regulator
ASIC, FSC, CIMA FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
Margin Trading
No Yes
Margin Rate
1%
STP Account
No Yes
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android iOS & Android
App Review

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.

Android App Rating
4
iOS App Rating
4.8
Auto Trading
Automate your trades via CopyTrader - follow profitable traders. Open and close trades automatically when they do.
Copy Trading
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.
Social Trading
No Yes
Trade Signals
No Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10
Islamic Account
No Yes
Account Currencies
  • USD
  • AUD
  • USD
Stock Exchanges
Commodities
CFD Trading
There's a decent range of 500+ CFD products on a proprietary terminal including forex, stocks, shares and commodities with competitive spreads. I appreciated the 24/5 customer support, market insights and sentiment data to help me make informed CFD trading decisions. 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.
Leverage
1:30 (Retail), 1:250 (Pro)
FTSE Spread
3 1.5
GBPUSD Spread
1.5 1.9
Oil Spread
0.05 0.05
Stocks Spread
Variable 0.57 (Apple)
Forex Trading
During my tests, I was pleased to uncover 60+ major, minor and exotic currency pairs, such as EUR/USD, AUD/USD and GBP/JPY with a minimum trade size of 0.01 lots and no commission fees. I also noted no hidden fees and free access to market insights.ith leverage through Mitrade's proprietary web-based trading platform. 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.
Forex 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.

GBPUSD Spread
1.5 1.9
EURUSD Spread
1 0.9
EURGBP Spread
1.2 1.3
Assets
60 55
Currency Indices
  • USD
Cryptocurrency
Crypto trading not offered 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
Spread
BTC 1%
Coins
  • BTC
  • ETH
  • BCH
  • XRP
  • DASH
  • LTC
  • ETC
  • API3
  • CRO
  • SKL
  • IMX
  • ADA
  • MIOTA
  • XLM
  • EOS
  • NEO
  • TRX
  • ZEC
  • BNB
  • XTZ
  • DOT
  • MKR
  • COMP
  • LINK
  • UNI
  • YFI
  • DOGE
  • AAVE
  • FIL
  • ALGO
  • ATOM
  • MANA
  • APE
  • LRC
  • ENJ
  • BICO
  • BAT
  • BNT
  • OGN
  • MATIC
  • FLR
  • GALA
  • ALICE
  • CHZ
  • HBAR
  • DYDX
  • SOL
  • THETA
  • FTM
  • GRT
  • 1INCH
  • CRV
  • ANKR
  • OXT
  • REN
  • SNX
  • STORJ
  • ZRX
  • CELO
  • SUSHI
  • QNT
  • BAL
  • FET
  • SHIBxM
  • AMP
  • AXS
  • SGB
  • CTSI
  • ENS
  • UMA
  • LUNC
  • FTT
  • SRM
  • LPT
  • KNC
  • ARB
  • RNDR
  • OP
  • LDO
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.