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FXCM vs eToro
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Updated:
Compare FXCM Vs eToro Side by Side
Unsure whether to choose FXCM vs eToro and wonder which broker suits your needs more? Read our detailed comparison guide of FXCM Review and eToro Review, which includes a comparison of the safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
Summary
| Feature | FXCM | eToro |
|---|---|---|
| Website | //www.fxcm.com | //www.etoro.com |
| Founded year | 1999 | 2006 |
| Headquarter | UK | Israel |
| Licenses | UK, Australia, South Africa | UK, Australia, Cyprus, Seychelles |
| Minimum Deposit | US$50 | 50 US$ |
| Trading Platforms | MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader, Capitalise AI | eToro platform |
| Eurusd avg Spread | 1.3 pips | 0.97 pip |
Licenses
| Feature | FXCM | eToro |
|---|---|---|
| Licenses Countries Info (short) |
|
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Both FXCM vs eToro are reputable brokerage firms regulated by well-established financial authorities, guaranteeing a secure and fair trading environment. These regulations encompass oversight from entities in the UK, Australia, and various international jurisdictions, ensuring their ability to provide services globally.
Broker Types
| Feature | FXCM | eToro |
|---|---|---|
| Broker types |
|
|
eToro is a Market Maker Broker facilitating trading by acting as the counterparty to its clients’ trades, while FXCM is an STP Broker which means it routes traders’ orders directly to liquidity providers without intervening as a counterparty. This typically results in faster execution and potentially lower spreads, making it a favored choice for traders who prefer direct market access
Trading Conditions
| Feature | FXCM | eToro |
|---|---|---|
| Trading Conditions |
|
|
Both brokers support a range of trading strategies, including hedging and social trading. However, eToro places restrictions on scalping, so traders who favor this strategy may find FXCM to be a more suitable option.
Fees & Commissions
| Fees & Commissions | FXCM | eToro |
|---|---|---|
| Inactivity Feemonth | 0 $ | $10 |
| Deposit fee | 0 $ | 0$ |
| Withdrawal fee | 0 $ | 5$ |
| Rollover fee eurusd buy 1 lot | -2.5% | -0.00008269 |
| Rollover fee eurusd sell 1 lot | +3% | 0.00001841 |
| Avg Eurusd standard acc | 1.3 pips | 0.97 pip |
| Gold | 0.76 | 4.5 |
| Brent oil | 0.04 | 5 |
| Bitcoin | 27.13 | 102.71 |
FXCM offers a more favorable fee structure compared to eToro, as it refrains from imposing non-trading fees like deposit/withdrawal or inactivity charges. In contrast, eToro charges a $10 inactivity fee and a $5 withdrawal fee.
FXCM primarily offers variable spreads, while eToro provides a choice between fixed and variable spreads, and notably, eToro does not charge any trading commissions. However, eToro boasts lower spreads when compared to FXCM, while FXCM’s spreads for currency pairs like EUR/USD tend to be higher than the industry average.
Account Types
| Feature | FXCM | eToro |
|---|---|---|
| Account types |
|
|
FXCM offers a single account proposal, while eToro’s account offering is slightly diverse offering accounts tailored to different experience levels as well as for corporate requirements yet built into a single account feature too. Also, both brokers offer Islamic accounts allowing traders who adhere to Sharia principles to trade currencies on their platform.
Markets & Instruments
| Markets & Instruments | FXCM | eToro |
|---|---|---|
| Forex | 40 | 52 |
| Indices | ✔️ | 21 |
| Commodities | 10 | 32 |
| Cryptocurrencies | 7 | 74 |
| Shares | 64 | 3203 |
| Bonds | ❌ | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | 35 | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 15 | 325 |
FXCM vs eToro have similar market offerings, with the primary distinction being that FXCM additionally provides spread betting options for its UK traders. Furthermore, eToro has a slight advantage in terms of the number of available instruments across various markets.
Trading Platforms
| Feature | FXCM | eToro |
|---|---|---|
| Platforms |
|
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FXCM offers a broader selection of platforms, including MT4, Zulutrade, NinjaTrader, and a custom platform. In contrast, eToro offers only its beginner-friendly proprietary platform with much fewer tools and quite of very basic functions. For advanced traders, FXCM is definitelly the recommended choice.
Deposit & Withdrawal Methods
| Feature | FXCM | eToro |
|---|---|---|
| Payment methods |
|
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Both FXCM alike eToro provide several funding options and similar in general, including credit/debit cards and various e-wallets. Nevertheless, eToro stands out by offering a more extensive array of e-payment methods, while FXCM offers only Skrill.
Others
| Feature | FXCM | eToro |
|---|---|---|
| Others |
|
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Both FXCM and eToro stand out for their top-notch customer support channels, including telephone, live chat, and email assistance, although availability is limited to business days. In terms of educational resources, our evaluation underscores FXCM’s strong offering, which extends to hosting regular educational events in cities worldwide, with a notable focus on enhancing trading knowledge in the African region, reflecting the company’s expanding presence there. In contrast, eToro’s educational content primarily caters to novice traders. Additionally, FXCM boasts more advanced and sophisticated research tools for traders seeking in-depth market insights.
Conclusion on eToro vs FXCM
In conclusion of FXCM vs eToro comparison Review, FXCM is ideal for advanced traders with its advanced tools and scalping options, while eToro stands out for its wide range of instruments, particularly in cryptocurrencies, and competitive spreads, making it a solid choice for diverse traders. Here is our final recommendation:
- FXCM — 🥇Best Broker for Autotrading that helps traders to improve their own trading strategies.
- eToro — 🥇Best Broker for Crypto CFD Trading for a number of top traders and Best Industry Social Trading Broker
