3+ best eToro alternatives & competitors in 2023

By:

James Knight

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock… read more.

Updated: Jun 15, 2023

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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

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2900

No. assets

$10

Minimum deposit

Stocks

Platform type

Pros & Cons

Great for beginners, simple to set up and get started Zero commission stock trading Popular ‘CopyTrader’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade

Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

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.

Visit eToro eToro Review

77% of retail CFD accounts lose money.

2. Public. Best for sharing beginner trading ideas

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...

No. assets

...

Minimum deposit

Stocks

Platform type

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments

You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

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.

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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.

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:

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:

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.

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.

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