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 other users do not like about eToro
eToro TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, eToro has currently 24.2k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.20/5.00.
Main Complains according to the Users' Reviews
- Huge spreads
- Expensive exchange rates
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
Things we liked:
Up to 500:1 leverageLow minimum deposit requirement
Things we didn't like:
Absence of a direct telephone number for customer supportOspreyfx is not a fully licensed and regulated broker
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
Things we liked:
AvaTrade has low trading feesThe 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 cryptosThe research tools are limited
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
Things we liked:
XM has low trading feesThe account opening is user-friendly and fast
Lots of educational tools
Things we didn't like:
XM has a limited product portfolioThe research tools are limited
It charges inactivity fees
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.