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 eToro and Interactive Investor.
eToro vs Interactive Investor Comparison
For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare eToro vs Interactive Investor.
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.
Is Interactive Investor a good broker?
Interactive Investor is a solid option for investors looking for strong in-house recommendations for funds and well-put-together research reports. Fees, although lowered from last year, are still fairly high, especially considering the less-than-impressive platform, mobile app and tools available. Interactive Investor struggles to remain competitive with the best trading platforms in the U.K.
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 Investor 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 - eToro would cost £154 per year, while Interactive Investor would cost £79.83 (Essentials plan); £143.88 (Investor plan); £239.88 (Super Investor plan) per year.
12 trades per year - eToro would cost £154 per year, while Interactive Investor would cost £107.76 (Essentials); £143.88 (Investor plan); £239.88 (Super Investor plan) per year.
36 trades per year - eToro would cost £154 per year, while Interactive Investor would cost £239.64 (Investor); £287.76 (Super Investor) per year.
120 trades per year - eToro would cost £154 per year, while Interactive Investor would cost £574.80 (Investor) or £622.92 (Super Investor) per year.
3 fund trades per year - eToro would cost £50.0 per year, while Interactive Investor would cost £0.0 per year.
How do eToro and Interactive Investor compare in terms of minimum deposits required?
eToro requires a minimum deposit of £50.0, while Interactive Investor requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 eToro charges annual custody fees of £0 (Other Fees Apply), while Interactive Investor charges annual custody fees of £143.88 (Investor Plan - £11.99 monthly).
Which broker offers a wider range of investment options?
eToro offers investors access to Share Trading, CFD Trading, ETFs and Crypto Trading, while Interactive Investor offers investors access to ISA, SIPP, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts. Neither have Spread Betting and 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 eToro and Interactive Investor 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 eToro offers traders access to neither of these accounts, while Interactive Investor offers traders access to SIPP and ISA accounts.
Do eToro and Interactive Investor 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 neither eToro and Interactive Investor offer crypto investing.
Which broker offers better research?
Our testing concluded that Interactive Investor is better for research than eToro. Interactive Investor offers more research options, including research reports, articles, and analyst ratings.
Which trading platform is better?
To compare the trading platforms of both eToro and Interactive Investor, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that eToro offers a better share dealing platform and eToro offers a better stock app for mobile trading.
Do eToro and Interactive Investor 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 eToro offers traders access to Client Webinars, Client Webinars (Archived) and Education (Share Trading), while Interactive Investor offers access to Education (Share Trading), Education (Funds) and Education (Retirement).
Overall winner: eToro
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