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Interactive Brokers vs eToro 2023

StockBrokers.com

Written by StockBrokers.com

April 19, 2023

Is Interactive Brokers better than eToro? After scoring the best share dealing accounts across 46 different variables, our analysis finds that Interactive Brokers is better than eToro. Professional traders are brilliantly serviced with the tools and capabilities of Interactive Brokers. Less-experienced traders benefit from the low commissions and excellent research available in the web-based Client Portal platform.

Select Brokers

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  • check_box_outline_blankcheck_boxAJ Bell
  • check_box_outline_blankcheck_boxBarclays
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCMC Invest
  • check_box_outline_blankcheck_boxDEGIRO
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFreetrade
  • check_box_outline_blankcheck_boxHalifax
  • check_box_outline_blankcheck_boxHargreaves Lansdown
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxInteractive Investor
  • check_box_outline_blankcheck_boxLloyds Bank
  • check_box_outline_blankcheck_boxSaxo Markets
  • check_box_outline_blankcheck_boxTrading 212

Compare

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Overall Rating Interactive Brokers eToro
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 3.5/5 Stars
Mobile Trading 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Research 5/5 Stars 3/5 Stars
Ease of Use 4/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Review Interactive Brokers Review eToro Review
Winner check_circle
Investments Interactive Brokers eToro
ISA info Yes No
SIPP info Yes No
Share Trading info Yes Yes
CFD Trading info Yes Yes
Funds info Yes No
ETFs info Yes Yes
Bonds - Corporate info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info Yes No
Spread Betting info Yes No
Crypto Trading info Yes Yes
Advisor Services info No No
Trading Fees Interactive Brokers eToro
Minimum Deposit info £0.0 £10.0
Share Trading: 0-9 Deals/ Month info £3 £0 (Other Fees Apply)
Share Trading: 10-19 Deals/ Month info £3 £0 (Other Fees Apply)
Share Trading: 20+ Deals/ Month info £3 £0 (Other Fees Apply)
5 trades per year (£30k portfolio) info £15 £154
12 trades per year (£30k portfolio) info £36 £154
36 trades per year (£30k portfolio) info £108 £154
120 trades per year (£30k portfolio) info £360 £154
3 fund trades per year (£30k portfolio) info £24.75 N/A
Annual Custody Fee: £0 - £250,000 info 0% £0 (Other Fees Apply)
Annual Custody Fee: £250K-£500K info 0% £0 (Other Fees Apply)
Annual Custody Fee: £500,000 - £1m info 0% £0 (Other Fees Apply)
Annual Custody Fee: £1m and over info 0% £0 (Other Fees Apply)
Bonds - Corporate - Fee info 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) N/A
Bonds - Government (Gilts) - Fee info 0.1% (2 euro min) N/A
ETFs - Fee info £3 £0 (Other Fees Apply)
Investment Trusts - Fee info £4.95 N/A
Telephone Dealing Fee info 30 USD N/A
Platforms & Tools Interactive Brokers eToro
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 98 66
Charting - Drawing Tools info 84 13
Charting - Notes info Yes No
Charting - Display Corporate Events info Yes No
Charting - Stock Overlays info Yes Yes
Charting - Index Overlays info Yes Yes
Research Interactive Brokers eToro
Research - Shares info Yes Yes
Research - CFDs info Yes No
Research - Funds info Yes No
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Portfolio Allocation Breakdown info Yes Yes
Education Interactive Brokers eToro
Education (Share Trading) info Yes Yes
Education (Funds) info No No
Education (Retirement) info Yes No
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Overall Summary Interactive Brokers eToro
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 3.5/5 Stars
Mobile Trading 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Research 5/5 Stars 3/5 Stars
Ease of Use 4/5 Stars 4/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Review Interactive Brokers Review eToro Review
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Comparing online share dealing platforms side by side is no small task. For our 2022 review of U.K. brokers, nearly 600 data points were collected over a 10-week period and used to score each broker. Let’s compare Interactive Brokers and eToro.

Interactive Brokers vs eToro Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Interactive Brokers vs eToro.

Is Interactive Brokers a good broker?

Professional traders are brilliantly serviced with the tools and capabilities of Interactive Brokers. Less-experienced traders benefit from the low commissions and excellent research available in the web-based Client Portal platform.

Is eToro a good broker?

Aside from some hidden fees and a limited research area, eToro does a very good job. It offers a functional and easy-to-use platform, with the bonus of an excellent copy trading option as well as zero-commission stock trades. Its only other limitation is that it doesn’t offer the same breadth of investments as many of the more traditional brokers.

Which broker is less expensive?

Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, Interactive Brokers offers better pricing than eToro for share dealing.

Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.

5 trades per year - Interactive Brokers would cost £15 per year, while eToro would cost £154 per year.

12 trades per year - Interactive Brokers would cost £36 per year, while eToro would cost £154 per year.

36 trades per year - Interactive Brokers would cost £108 per year, while eToro would cost £154 per year.

120 trades per year - Interactive Brokers would cost £360 per year, while eToro would cost £154 per year.

3 fund trades per year - Interactive Brokers would cost £0.0 per year, while eToro would cost £10.0 per year.

How do Interactive Brokers and eToro compare in terms of minimum deposits required?

Interactive Brokers requires a minimum deposit of £0.0, while eToro requires a minimum deposit of £10.0. From our testing we found for accounts between £0 - £250,000 Interactive Brokers charges annual custody fees of 0%, while eToro charges annual custody fees of £0 (Other Fees Apply).

Which broker offers a wider range of investment options?

Interactive Brokers offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts, Spread Betting and Crypto Trading, while eToro offers investors access to Share Trading, CFD Trading, ETFs and Crypto Trading. Neither have Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Do Interactive Brokers and eToro offer ISA or SIPP accounts?

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Interactive Brokers offers traders access to SIPP and ISA accounts, while eToro offers traders access to neither of these accounts.

Do Interactive Brokers and eToro offer cryptocurrency?

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that both Interactive Brokers and eToro offer crypto investing.

Which broker offers better research?

Our testing concluded that Interactive Brokers is better for research than eToro. Interactive Brokers offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both Interactive Brokers and eToro, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that Interactive Brokers offers a better share dealing platform and Interactive Brokers offers a better stock app for mobile trading.

Do Interactive Brokers and eToro offer educational resources?

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Interactive Brokers offers traders access to Client Webinars, Client Webinars (Archived), Education (Share Trading) and Education (Retirement), while eToro offers access to Client Webinars, Client Webinars (Archived) and Education (Share Trading). Neither have Education (Funds).

Overall winner: Interactive Brokers

Read Next: Best UK Trading Platforms 2022


Reink Media Group is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

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