eToro vs IG: Who Is the Better Broker?

In the fast-paced universe of online trading, choosing the right broker can feel overwhelming. Whether you’re a seasoned investor or just dipping your toes into the world of financial markets, the platform you select influences your trading experience, potential profits, and overall journey toward financial growth.

Today, we’re diving deep into two giants: eToro and IG. Both have established formidable reputations, but which one aligns better with your needs? As an experienced finance writer who’s spent years analyzing brokers from every angle, I’ll guide you through their features, strengths, weaknesses, and everything in-between, helping you make an informed decision.

Introduction: Understanding the Landscape of Online Brokers

The landscape of online trading has evolved rapidly over the past decade. The proliferation of platforms offering access to stocks, forex, cryptocurrencies, commodities, and other asset classes has democratized investment but also created confusion.

In this environment, broker selection is crucial. A good broker provides a user-friendly interface, competitive spreads, robust research tools, and reliable customer service to ensure your trading journey is both profitable and enjoyable.

eToro and IG exemplify two different yet highly reputable approaches to online brokerage. While eToro is renowned for its social trading features and innovative platform, IG boasts decades of experience, a comprehensive asset offering, and advanced trading tools.

Overview of eToro and IG

eToro: The Social Trading Pioneer

Founded in 2007, eToro revolutionized online trading by integrating social media concepts. The platform appeals to retail investors who value community-driven insights, CopyTrading features, and a straightforward user interface.

Core features: Social trading, CopyTrading, a wide variety of assets including stocks, cryptocurrencies, commodities, and forex.
User friendliness: Intuitive platform suitable for beginners and intermediate traders.
Regulation: Regulated in multiple jurisdictions, including FCA (UK), ASIC (Australia), and CySEC (Cyprus).
Unique selling point: Community-driven trading with the ability to mimic successful traders’ strategies.

IG: The Established Market Leader

Founded in 1974 in the UK, IG holds a legacy as one of the largest and most regulated brokers globally. It is renowned for its extensive product offer, sophisticated trading tools, and comprehensive research.

Core features: Advanced trading platform, extensive range of markets (stocks, forex, CFDs, cryptocurrencies), professional-grade research.
User friendliness: Offers both beginner-friendly and advanced platforms, including the proprietary IG Trading app and MetaTrader integration.
Regulation: Heavily regulated in the UK (FCA), Australia (ASIC), and other jurisdictions.
Unique selling point: World-class trading infrastructure with advanced tools, extensive market coverage, and a reputation built over decades.

User Experience and Platforms

eToro: Simplicity and Social Integration

eToro’s platform emphasizes ease of use. Its UI is designed for traders of all experience levels. The interface is clean and modern, with a straightforward layout emphasizing social features.

Web platform: Very intuitive with easy navigation. The social feed displays popular traders, trending assets, and news, fostering a community environment.
Mobile app: Highly rated, mimicking the desktop experience with seamless navigation.
CopyTrading: The flagship feature allows traders to automatically copy the trades of successful investors—ideal for beginners or those who prefer a hands-off approach.
Research tools: Limited compared to IG, but sufficient for casual traders. Highlights include market news, sentiment indicators, and basic analysis.

Pros:

User-friendly, ideal for novices
Strong social and community elements
Accessible mobile trading

Cons:

Limited advanced analytical tools and research
Less customization for professional traders

IG: Rich in Advanced Tools and Flexibility

IG offers a more sophisticated trading environment suited for experienced traders who demand deep analytical tools.

Platforms: Proprietary IG Platform, MetaTrader 4/5, and L2 Dealer for professional traders. These platforms provide extensive customization, charting tools, and automation.
Mobile app: Robust, with features tailored to both beginners and pros.
Research & analysis: Extensive, including daily market news, economic calendars, in-depth reports, and advanced charting.
Order execution: Fast and reliable, with options such as guaranteed stop-loss on certain accounts.

Pros:

Extensive analytical tools and market data
Multiple platform options
Strong research resources

Cons:

Slightly steeper learning curve
Some features may be overwhelming for beginners

Asset Coverage and Market Access

eToro: Diverse Asset Classes with a Social Twist

eToro’s asset classes include:

Stocks: Over 2,000 stocks across leading markets
Cryptocurrencies: 50+ currencies including Bitcoin, Ethereum, and XRP
Forex: 50+ currency pairs
Commodities: Gold, silver, oil, and more
ETFs: Access to a wide array of ETFs
Indices: Major global indices

Limitations:

Some assets are available as CFDs only; real asset trading is limited to cryptocurrencies and stocks in certain regions.
No futures or options trading.

IG: Extensive and Comprehensive Market Access

IG’s broad market coverage includes:

Stocks & ETFs: Thousands of shares across global markets, with direct share trading in some jurisdictions.
Forex: Over 80 currency pairs.
Commodities: Metals, energy, agriculture.
Indices: Hundreds of global indices.
Cryptocurrencies: Limited compared to eToro, but expanding.
Futures & options: Available for professional traders in selected markets.

Advantages**:

Access to futures, options, and more complex derivatives.
Greater variety and depth for experienced traders.

Cost Structure and Fees

eToro: Commission-Free Trading with Some Hidden Costs

Spreads: The primary cost, varies by asset class. Spreads are generally competitive for stocks and cryptocurrencies.
Overnight fees: Applicable for leveraged positions held overnight.
Withdrawal & inactivity fees: $5 withdrawal fee; inactivity fee after 12 months of no login.
CFD trading: Spreads are embedded, with commissions on certain assets.

Summary: eToro’s transparent fee structure makes it easy for casual traders, though spreads can sometimes be wider than specialist platforms.

IG: Competitive and Transparent

Spreads: Tight spreads across most markets, especially forex.
Commission: Some assets, like shares, attract a commission per trade (e.g., $0 to $10 depending on the market).
Overnight & rollover fees: Transparent and variable.
Inactivity & withdrawal fees: Present but reasonable.

Summary: IG may incur additional costs for specific trades, but overall, pricing is competitive, especially considering the advanced tools provided.

Regulation, Safety, and Client Funds Protection

eToro: Strong Regulatory Status

eToro is regulated by multiple authorities:

UK: FCA
Cyprus: CySEC
Australia: ASIC

Client funds are segregated, and the platform adheres to strict regulatory standards. It also maintains investor protection schemes where applicable.

IG: The Gold Standard

Regulated by:

UK: FCA
Australia: ASIC
Other jurisdictions: Multiple regulators globally

IG’s long-standing history and stringent regulatory compliance make it one of the safest brokers. Client funds are segregated, and the firm complies with the highest security standards.

Comparative Insight

While both brokers are heavily regulated, IG’s reputation and longevity position it slightly ahead in terms of trustworthiness, especially for high-net-worth or professional traders.

Customer Support and Educational Resources

eToro

Support channels: Live chat, email, FAQs.
Educational content: Beginner-focused guides, webinars, and social features.
Community: Active social feed and trader ranking.

IG

Support channels: Phone, email, live chat.
Educational resources: Comprehensive courses, webinars, and market analysis.
Research: In-depth daily commentary, economic reports, and trading insights.

Final assessment

IG’s educational ecosystem is more expansive and suited for traders seeking to deepen their knowledge. eToro’s community-centric approach is engaging but less comprehensive in education.

Which Broker Is Better for You? A Side-by-Side Breakdown

Criterion	eToro	IG
Best for	Beginners, Social Trading, Cryptocurrencies	Advanced traders, professional traders, comprehensive analysis
Fee structure	Simple, spreads-based, some withdrawal/inactivity fees	Competitive spreads, commissions on shares, some fees on specific assets
Asset range	Stocks, cryptocurrencies, forex, commodities, ETFs	Stocks, forex, commodities, indices, futures, options
Platforms	User-friendly, social features, mobile app	Multiple platforms, advanced charting, automation
Regulation	FCA, CySEC, ASIC	FCA, ASIC, multiple global regulators
Customer service	Good, community-oriented	Excellent, professional-level support
Educational Resources	Focus on guides and social learning	Extensive courses, research, economic data

FAQ: Common Questions About eToro and IG

1. Which broker offers better crypto trading?

eToro offers a broader selection of cryptocurrencies and is more beginner-friendly, making it ideal for retail investors new to crypto. IG has recently expanded its crypto offerings but remains more focused on forex and traditional assets.

2. Is leverage available, and at what levels?

Both brokers provide leverage, but limits depend on jurisdiction and asset class. In the US, leverage is highly restricted, but in Europe or Australia, both brokers offer leverage up to 30:1 for forex and CFDs, subject to regulatory constraints.

3. Can US traders trade with eToro and IG?

eToro has a U.S. platform, but with limited assets and regulatory differences. IG has a U.S. arm but mainly offers forex and futures trading, not the full CFD offerings available internationally.

4. Which broker has better mobile apps?

Both platforms have well-developed mobile apps, but eToro’s is notably intuitive and social-centric, making it excellent for casual traders. IG’s app offers more advanced tools for experienced traders.

5. Is there a demo account?

Yes, both brokers provide demo accounts. eToro offers a $100,000 virtual fund account, while IG’s demo platform is more comprehensive, including access to all features and markets.

Final Thoughts: Making the Right Choice

Choosing between eToro and IG ultimately hinges on your trading style, experience level, and what you value most in a broker.

If you’re new to trading and thrive on community insights, social features, and simplicity, eToro is an excellent starting point. Its CopyTrading and user-friendly design remove many barriers for beginners.
If you’re an experienced trader seeking advanced analytical tools, diverse asset classes—including futures and options—and a platform with a long-standing reputation, IG is likely the better fit.

In the end, both brokers serve different niches effectively. The key is aligning your trading goals and preferences with what each platform offers. Remember, no single broker is perfect; it’s about finding the one that best supports your investing journey.

Final Summary

eToro is ideal for traders who prioritize community, social trading, and simplicity.
IG is perfect for those seeking an advanced trading environment with extensive market access and analytical tools.

Both platforms are reputable, well-regulated, and comprehensive. Your choice should reflect your level of experience, assets of interest, and trading style.

Invest wisely, keep educating yourself, and choose the platform that empowers your financial ambitions. With the right broker by your side, the path to financial growth becomes not just a possibility but a well-managed venture.

About the Author

As a seasoned finance writer, I’ve dedicated years to analyzing and reviewing trading platforms, helping traders like you navigate the complex online trading landscape. My goal is to provide clear, honest, and in-depth insights so that you can make confident decisions and succeed in your trading endeavors.

eToro vs IG Compared Who is Better Broker