Wealthsimple vs eToro

Wealthsimple vs eToro Comparison Table 2023
Wealthsimple Review 2023	eToro Review 2023
Review 3.1	Review 4.1
Traders from US not accepted	Traders from US not accepted See available CFD brokers
Wealthsimple offers managed investment portfolios to Canadian residents. Clients can build a trading solution based on their financial goals and risk tolerance. Buy and sell stocks, ETFs, and cryptocurrencies. 2 million+ accounts have already been opened.	eToro is a top-rated multi-asset platform which offers both investing in 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. 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. 74% of retail accounts lose money.
	74% 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.
Comment by Reviewer
"Canadian traders looking for passive income opportunities will be well served by Wealthsimple. The quick and easy joining process also means you can sign up and start trading in a few minutes."	"eToro is a great pick for traders who want to trade CFDs with copy trading and other social investing features. The brand is hugely respected with a string of awards and strong regulatory oversight."
Pros
Simple and secure onboarding process through an intuitive and well-reviewed mobile app - start investing in 5 minutes Trade stocks from as little as $1 with zero commissions, plus Canadian fractional shares including Shopify and Royal Bank of Canada Attractive perks available for Premium and Generation clients, including airport lounge access, 15% off your will, and health plans Trade and stake digital coins on Canada's first regulated crypto platform and earn decent rewards of up to 4.6% per year Accessible educational resources, including Personal Finance 101 and an engaging proprietary online magazine Options trading available with flat $2 per contract pricing using any of the stocks and ETFs accounts	25M+ user community Industry-leading copy trading app Commission-free stock trading Islamic/Halal-friendly account Good user reviews and app rankings Low minimum deposit requirement Multiple orders including take profits Digital wallet with multiple currencies Trustworthy and award-winning company Comprehensive online training academy Demo account with access to virtual funds
Cons
Only Canadian residents can join after operations ceased in the USA and the UK Limited to investing only in stocks, ETFs and cryptos High management fees compared to competition Long waiting time for non-instant deposits	Fee to withdraw revenue Limited contact methods No guaranteed stop loss No MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms Currency conversion fees for account denominations other than USD
Awards
Best Financial Services Website - Webby Awards Top 100 Global Financial Technology Companies - Fintech 100	Best of Show Award 2012 - Finovate Europe Most Innovative Trading Platform 2010 - World Finance Awards Best Trading Software 2011 - World Finance Awards
Instruments
Stocks, ETFs, Cryptocurrencies	Crypto
Demo Account
No	Yes
Minimum Deposit
$1	$10
Trading Platforms
Own	TradingCentral
Payment Methods
Credit Card Debit Card Mastercard Visa Wire Transfer	Debit Card iDeal Klarna Neteller POLi Rapid Transfer Skrill Sofort Swift Visa Wire Transfer
Minimum Trade
$1	$10
Regulator
CIRO	FCA, ASIC, CySEC, FSA
Margin Trading
No	Yes
Margin Rate
	1%
STP Account
No	Yes
ECN Account
No	Yes
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
Yes	No
Negative Balance Protection
No	Yes
Market Maker
No	Yes
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
iOS & Android	iOS, Android & Windows
Auto Trading
Yes via robo advisor	Automate your trades via Copy Trading - follow profitable traders. Open and close trades automatically when they do.
Copy Trading
No	Yes
Copy Trading Platform
	One of the best proprietary platforms currently on the market is the award-winning eToro CopyTrader (at no additional cost for eToro clients). The web-based platform includes a user-friendly and interactive layout and also comes with social features, including a community chat. Copy trading on crypto trades only.
Social Trading
No	Yes
Trade Signals
	Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
Yes	Yes
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$10
Islamic Account
Yes	Yes
Account Currencies
USD CAD	USD
Stock Exchanges
Nasdaq New York Stock Exchange Toronto Stock Exchange	Australian Securities Exchange Borsa Italiana CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange IBEX 35 Japan Exchange Group Korean Stock Exchange London Stock Exchange National Stock Exchange Of India New York Stock Exchange Russell 2000 S&P 500 Shanghai Stock Exchange SIX Swiss Exchange Tokyo Commodity Exchange Taiwan Stock Exchange
Commodities
Gasoline Gold Oil Silver	Aluminium Cocoa Coffee Cannabis Copper Corn Cotton Gasoline Gold Iron Lead Lithium Livestock Nickel Oil Palladium Platinum Precious Metals Silver Soybeans Sugar Wheat
CFD Trading
CFD trading not offered	Trade CFDs on over 3,000 assets and enjoy rich market data through integrated TradingView charts. There is also comprehensive free learning tools via the eToro Academy, ideal for beginners. Fees are low and leverage is in line with regulatory requirements, helping to provide a secure trading environment.
FTSE Spread
	1.5 pt
GBPUSD Spread
	2 pips
Oil Spread
	5 pts
Stocks Spread
	0.24% Var
Forex Trading
Forex trading not offered	An impressive selection of 52 currencies are tradeable on eToro's proprietary platform and app. Traders can also continuously hone their forex strategies by switching between demo mode and their live account any time.
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
	2 pips
EURUSD Spread
	1.5 pips
EURGBP Spread
	1.5 pips
Assets
	49
Currency Indices
	USD
Cryptocurrency
Trade 50+ cryptocurrencies including Bitcoin and Ethereum with a competitive 1.5-2% fee per transaction. Investors also enjoy fast crypto transfers to and from Wealthsimple.	eToro leads the way in cryptocurrency trading. The lowest spreads (from 1% for BTC), their own wallet service and the largest number of cryptos to trade in the market. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.
Spread
1.5 – 2% operational fee	BTC 1%, ETH 2%
Coins
ZRX 1INCH AAVE APE AMP ANKR AVAX AXS BAL BNT BAND BAT BTC BCH ADA CTSI CELO LINK CHZ CHR COMP ATOM COTI CRV DAI MANA DOGE DYDX ENJ ETH FTM FIL GALA GRT KNC LTC LRC LUNC MKR PAXG DOT MATIC QNT REN SAND SHIB SKL SOL XLM STORJ SUSHI SNX XTZ UMA UNI USDC YFI	BTC ETH BCH XRP DASH LTC ETC ADA MIOTA XLM EOS NEO ZEC BNB VET
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
	74% 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.
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