3+ best eToro alternatives & competitors in 2023
eToro has become a dominant force thanks to its zero-commission stock trading and social investing platform. It was founded in 2017 and introduced zero-commission trading for the first time in 2019, it now boasts more than 20 million active users.
Compare the cost of trading and the available range of financial markets to learn if you can trust eToro, or whether it’s better to find the best eToro alternative.
Quick take: best alternatives to eToro 2023
Top 10 eToro alternatives & similar sites
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.
77% of retail CFD accounts lose money.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.
Compare similar apps to eToro
We have assigned each eToro alternative a rating to give you an idea of the overall service each trading platform provides. The score, alongside a snapshot of some important features, allow us to quickly summarise eToro’s top competitors.
|Minimum deposit||£10||£10||£10||No minimum|
|Supported assets||Crypto, stocks, forex, indices, EFTs, NFTs||Crypto||Crypto, NFTs||Crypto, stocks, ETFs|
|Visit site >||Visit site >||Visit site >||Visit site >|
How the best eToro alternative was found
We found alternative cryptocurrency exchanges to eToro by reviewing what most closely matched eToro in terms of the business model, licensing & operations, cost of trading, target audience, and crypto markets available.
We ranked each alternative on these factors while taking into account all available user-reviews across services like Trustpilot, Reviews.io, and Sitejabber, to find the services that offered similar apps to eToro.
Here are some more of the features we used to identify the best eToro alternatives.
- Best low fee eToro alternatives. The main cost of using a broker comes from trading fees or commissions but there may be other fees as well. We considered the overall cost of using a different broker, including inactivity fees, spreads, and conversion fees.
- Best eToro alternatives for beginners. Beginner-friendly eToro alternatives provide an intuitive app and trading experience that helps you make your first steps in trading. The most important feature it must offer is a free demo account, while features like copy or social trading can be useful as well.
- Best eToro competitors with similar products. We picked out platforms where the markets and number of assets available most closely resembled eToro. Good eToro alternatives offer a large, varied range of products.
- Most secure eToro alternative. All the eToro competitors we recommend are regulated by top tier financial regulators to protect you and your money. We also look for similar apps to eToro that are transparent about their finances and how they store customer funds.
- Best eToro competitors with highest user reviews & customer ratings. Real life experience of using a trading platform is important. We identified the most popular platforms by comparing those with the best average ratings and most positive user reviews.
Best low fee alternatives to eToro
You don’t want to switch trading platforms only to pay more for the service. Here’s how eToro alternatives compare in terms of how they make their money:
|Rollover/overnight fees||Yes, on CFDs||No||No||No|
|Spreads||Yes, on certain assets||No||Yes||Yes|
|Conversion fees||Yes, for non-USD currencies||No||No||No|
Best eToro alternative for beginners
eToro is targeted towards beginners, so any competitor should provide a helpful experience to new users as well. Here is a comparison of beginner-friendly features available from eToro’s competitors:
|Free demo account||Yes||Yes||No||No|
eToro competitors with similar products
A eToro alternative should allow you to invest into a similar range of assets and markets. That way, you can invest in the same products even if you switch brokers. Here’s how the competitors compare to eToro:
Most secure eToro alternative
Regulation is important because it offers you financial protection in the event that something happens to the broker, like a bankruptcy. Here are how the top alternatives fare against eToro in terms of regulatory protection.
|European regulation||FCA, CySEC, DNB, AMF, OAM, MFSA||–||BaFin||–|
|North American regulation||FinCEN, FINRA||–||FinCEN||FINRA, SEC|
|South American regulation||–||–||–||–|
Best eToro competitors with highest user reviews & customer ratings
We gathered data from independent review platforms to show what the experience of using an eToro alternative was like for other people.
This information can be a useful tool to help you decide which platform to use, but remember that there are many reasons why someone might have a good or bad experience with a service – and not all of them are the platform’s fault.
eToro charges high withdrawal fees, relative to other trading platforms. In addition, many of its products are CFDs, which can be much more risky to trade compared to buying and selling the underlying assets themselves.
Robinhood has a much more limited offering compared to eToro. Its service is only available in the United States, and it doesn’t boast features like CopyTrader, which have helped eToro set itself apart from other trading platforms.
Coinbase is ideal for US users, but has less of a global presence than eToro. Coinbase is also purely a crypto exchange, it doesn’t offer stocks, forex, and commodities like eToro does, nor does it have a free demo account.
Yes, eToro is a regulated broker that offers its users protection from unforeseen events. It also only provides products that conform with financial regulations in the countries in which it operates.
No, eToro is an inexpensive trading platform that offers competitive rates on stocks, crypto, and plenty more assets.
Many US stocks are available commission-free, while the only place it falls down a little is on crypto, where there is a flat 1% fee on all trades. This is more than you have to pay on Binance, for example.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >