FXChoice vs eToro Broker Comparison
Are you trying to figure out which is a better broker, FXChoice or eToro? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that eToro is the better of the two. eToro offers 2,200+ instruments, licenses from FCA, CySec, and fair trading fees.
In the tables below, you can compare the features of FXChoice and eToro side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked eToro higher than FXChoice.
Does FXChoice or eToro have lower trading costs and fees?
To compare the costs of trading at different brokers, our experts analyze both trading-specific fees, such as spreads, and non-trading fees, such as inactivity charges and payment costs.
To give an overall view of how cheap or expensive FXChoice and eToro are, we first considered the common fees on Standard Accounts. At FXChoice the average spread for the EUR/USD currency pair is 1.4 pips, whilst at eToro the spread is 3.
This shows that FXChoice is the better option for low-cost forex trading.
When it comes to non-trading fees, FXChoice charges for deposit, withdrawal. eToro charges for account, deposit. With this in mind, both brokers offer similar non-trading fees.
When our experts analyzed the specific costs of both brokers, we found that FXChoice is the better option.
*Based on Standard account type.
Which broker is safer, FXChoice or eToro?
In order to decide how safe our top-rated brokers are, our experts look at a number of factors. This includes what licenses the broker holds and how reputable those licenses are. We also consider the history of the broker, as a long-standing broker is often more reliable and trustworthy than a newer one.
FXChoice is regulated by IFSC and does not offer client protection. eToro is regulated by FCA, CySec and does not offer client protection.
Considering these two factors, and the general reputation and history of both brokers, we believe that eToro is the safer broker.
How many trading instruments are available at FXChoice and eToro?
FXChoice provides traders with 50+ instruments. This includes 36 currency pairs, 3 cryptocurrencies, and 0 stocks and shares. With FXChoice, you can also trade CFDs.
In comparison, eToro boasts 2,200+ tradable instruments. eToro offers 47 currency pairs, 16 cryptocurrencies, and 2041 stocks and shares. eToro also allows CFD trading.
As eToro has 2,200+ and FXChoice has 50+, a difference of 48, this shows that eToro offers more opportunities to diversify your trading portfolio.
Which broker offers the best trading platform, FXChoice or eToro?
When our experts review a broker, they open their own accounts and place trades via the broker’s trading platform. This allows them to fully evaluate the quality of the platform, how easy it is to use and what features it offers.
FXChoice provides you with the ability to trade via 3 trading platforms, and eToro has 2 trading platforms. Both brokers also offer research and trading tools, however eToro has more.
Overall, our experts agree that FXChoice boasts the better trading platform offering.
Which is better for beginners, FXChoice or eToro?
To decide how well-suited a broker is for beginner traders, our experts look at what educational materials are available, how accessible the minimum deposit limits are, the range of account types and whether or not you can practice trading with a demo account first.
Considering this, our reviews show that eToro is the better broker for beginner traders as it offers a larger range of educational tools and materials. eToro also has a minimum deposit of $.