IG vs eToro 2024

IG is a publicly traded company, operates a regulated bank, and is authorised by eight Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). IG is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Financial Markets Authority (FMA), and the Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system.

eToro is not publicly traded and does not operate a bank. eToro is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). eToro is authorised by the following Tier-1 regulators: Australian Securities & Exchange Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.

To open a trading account with IG, you'll need to make an initial minimum deposit of £250.00.

eToro requires a minimum deposit of $10-$10,000 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. IG offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw) for banking, whereas eToro provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that IG offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that IG holds 8 global Tier-1 licenses, while eToro holds 3. IG holds 2 global Tier-2 licenses, while eToro holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that IG (99) earned a higher Trust Score than eToro (90).

To compare the trading platforms of both IG and eToro, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

Here’s what trading platforms are available at IG:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at eToro:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. IG offers MetaTrader 4 (MT4), while eToro does not. Forex traders also appreciate the ability to engage in social copy trading. While eToro offers copy trading, IG does not.

IG provides traders 97 currency pairs (e.g., EUR/USD) compared to eToro's 52 available pairs. If you are interested in trading CFDs, IG offers traders access to 19537 CFDs, while eToro offers access to 3479 CFDs; so IG offers 16058 more CFDs than eToro.

We found in our testing that IG offers a more diverse selection of investment options than eToro, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Spread Betting.