eToro Alternatives - Better Forex Brokers for 2024
Find out the major disadvantages of eToro Forex Brokers and alternatives with lower fees and more security. Unbiased eToro Alternatives reviews.
So which brokers are better than eToro? Want to jump straight to the answer? OspreyFX is the best alternative broker to eToro in 2024 .

Overview

Since its foundation in Israel in 2007, eToro has quickly climbed the ladder of the social trading revolution and proudly occupies the leading position as the world’s biggest social trading and investment platform, which is initially introduced in 2010.

Things we didn't like:

 eToro has unreliable customer service, and its trading platform freezes sometimes.
 Education tools are very limited.

# Exchage's Features ETORO Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

Why would you want an alternative to ETORO?

eToro has been around for a long time and is hugely popular among traders, especially those who wish to engage in social trading. However, other traders, with different priorities may feel that they need to seek an alternative to eToro, to better match their own individual trading needs. For example, traders who are used to trading on the mainstream, industry standard MT4 platform, might not feel at ease with eToro’s own proprietary platform, which has been specifically built in order to seamlessly allow the enhanced social trading functionalities that eToro focuses on. Moreover, more seasoned traders, who need enhanced analysis tools, such as charts, calculators and others, may find that their requirements are not adequately met and might seek different brokerage providers who can get them access to such advanced features.

What to look for in a ETORO Alternative?

When seeking an alternative forex brokerage to eToro, you will need to ensure that this scores equally high in terms of credibility and transparency, while allowing you to trade on a platform that is reliable and seamless, making trading easy and readily accessible. Moreover, to give you adequate choices and allow you to effectively differentiate your portfolio, look for an eToro alternative that serves all your trading needs, not only those directly linked to the trading of foreign currencies, but also stocks and cryptocurrencies, as well as CFDs in commodities, indices and ETFs. To be an appealing alternative to eToro, the broker you will be considering needs to be charging competitive and reasonable fees and be transparent when it comes to its charges and commissions, while also offering different account types and plans that may be custom made to best cater for and serve the specific needs of each individual trader.

Best ETORO alternatives – forex brokers like (or better than) ETORO

4.3 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
80%
4.0/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
80%
4.0/5
Trading Fees
100%
5.0/5
Support
80%
4.0/5

Things we liked:

 Up to 500:1 leverage
 Low minimum deposit requirement

Things we didn't like:

 Absence of a direct telephone number for customer support
 Ospreyfx is not a fully licensed and regulated broker

#1
OspreyFX Overview

Named after the very large, distinctively shaped, fish preying hawk, which suitably decorates the brand’s logo, OspreyFX is a relatively new entrant in the world of forex brokerages, aiming to offer existing and aspiring traders an innovative venue in which they can satisfy all their trading needs, including the trading of cryptocurrencies.

4.2 / 5

Rating breakdown

Security
70%
3.5/5
Ease of Use
90%
4.5/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
60%
3.0/5

Things we liked:

 AvaTrade has low trading fees
 The account opening is user-friendly and fast
 It offers a lot of deposit and withdrawals options free of charge

Things we didn't like:

 The product portfolio is limited as it offers only CFDs, forex, and cryptos
 The research tools are limited

#2
AvaTrade Overview

Since its establishment in 2006, AvaTrade has expanded to 11 countries and offers an array of trading platforms for web, desktop, and mobile use. It facilitates trading in spot forex, forex options, and CFDs across various asset classes, including cryptocurrencies. AvaTrade boasts 300,000 registered traders executing over 3 million trades monthly, with a total traded value exceeding $1.47 trillion.

4.0 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
100%
5.0/5
Tradable Assets
50%
2.5/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
70%
3.5/5

Things we liked:

 XM has low trading fees
  The account opening is user-friendly and fast
 Lots of educational tools

Things we didn't like:

 XM has a limited product portfolio
 The research tools are limited
 It charges inactivity fees

#3
XM Overview

XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.

eToro Alternatives Frequently Asked Questions (FAQs):

Are there any sites like eToro?
Yes, there are many sites offering similar services like eToro. Those include OspreyFX, FxPro, NextTrade and many more. If you are to look for an alternative to eToro for your forex trading needs, then you must make sure it is one with a better offering.
Who are eToro Top Competitors?
eToro 's top competitors in July 2024 are: OspreyFX, AvaTrade, XM and more. OspreyFX is currently rank as the number one on the list of top Forex brokers.
Which is better eToro or Admiral Markets?
After assessing the two Brokers eToro vs Admiral Markets, objectively, eToro is more reliable based on our analysis.

Are you Satisfied with what They Offer?