fbpx
XTB vs eToro - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsPublished: October 21, 2020
EditorEditor: Chris CammackUpdated: November 15, 2023

Last Updated On November 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Scroll for more detailsPreviousNext
Broker Score
Risk Statement
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
11110.54.39/ 5 78% of retail CFD accounts lose moneyGBP 0CySEC Regulated BrokersFCA Regulated Forex BrokersDFSA Regulated Forex BrokersInternational Financial Services CommissionKomisja Nadzoru FinansowegoMarket Maker NDDCommodities, Stock CFDs, ETFs, Forex, Indices5749
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
  • Limited platform choice
Read Review 11110.54.5/ 5 111115/ 5 111104/ 5 111003/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 77%30:10.80 pips Islamic, Standard xStation5Bank Transfer, Visa, Mastercard, SkrillFees Included in Spread
1110.503.68/ 5 77% of retail CFD accounts lose moneyUSD 50CySEC Regulated BrokersFCA Regulated Forex BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthorityMarket MakerCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices4976
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
Read Review 111115/ 5 111104/ 5 111104/ 5 110002/ 5 10.50001.5/ 5 111104/ 5 1110.503.5/ 5 77%30:11 pips Professional, Standard etoroBank Transfer, Mastercard, Visa, Paypal, Skrill, NetellerFees Included in Spread

How do XTB and eToro stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

eToro

XTB

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare XTB and eToro, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does XTB or eToro have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that eToro holds three Tier 1 and no Tier 2 licences, and XTB holds two Tier 1 and two Tier 2 licences.

 

Is eToro financially regulated?

Yes eToro was founded in 2006 and is regulated by ASIC, CySEC, FCA and FSA-Seychelles.

 

Is XTB financially regulated?

Yes XTB was founded in 2002 and is regulated by CySEC, DFSA, FCA, FSC and KNF.

 

Based on these findings, eToro earned a higher trust rating than XTB.

Does XTB or eToro have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that XTB has overall lower trading costs than eToro. 

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
XTB
111115/ 5
GBP, EUR, USD, HUF
0.70 pips
USD 7
0.70 pips
2.20 pips
1.40 pips
USD 0
eToro
111104/ 5
USD
1.00 pips
USD 10
1.00 pips
2.00 pips
1.00 pips
USD 0

 

Does XTB or eToro offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, 0 offers support for and 0 offers support for . 

Do the brokers offer copy trading?

In this case both eToro and XTB offer copy trading.

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
XTB
111104/ 5
xStation5
eToro
111104/ 5
etoro

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that XTB offers a greater range and depth of instruments to trade than eToro. XTB offers 57 Forex pairs to trade and eToro offers 49 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, eToro offers 76 cryptocurrencies while XTB offers 49 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with eToro.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that eToro charges a withdrawal fee and XTB does not. Overall, XTB has better deposit and withdrawal processes than eToro. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

XTB has better educational support than eToro. Both eToro and XTB offer educational support for more experienced traders.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course
XTB
eToro

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that XTB offers better research analysis than eToro and that both eToro and XTB offer frequent webinars.

Scroll for more detailsPreviousNext
Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
XTB
eToro

 

Our overall Verdict on XTB

A well-regulated broker, XTB will appeal to traders looking for a wide choice of tradable instruments, low trading fees and innovative platform tools. However, traders should note that support is only offered for XTB’s in-house platform, xStation5. In 2023, XTB launched a stockbroking service exclusively for UK residents. Investors can now purchase a range of 3000+ global shares with no commission on the first 100,000 EUR in traded volume. 

In terms of CFD trading, XTB has a single account with no minimum deposit requirement, and trading costs are lower than most other brokers, with spreads averaging 0.9 pips (EUR/USD) and no commissions. XTB offers trading on over 2100 CFDs, a wider range than is typically seen at other brokers, including 57 Forex pairs. Educational support for beginners is adequate, and XTB also publishes frequent market commentary and trading ideas in its Market News section.

One drawback is that XTB no longer supports the MT4 trading platform. Hence, all clients must use XTB’s proprietary platform, xStation 5 - though it has won awards for its functionality and intuitive design and our review team loved how easy it was to learn and use.

Our overall Verdict on eToro

Founded in 2007, eToro is an FCA-regulated social trading broker. It remains the most popular social trading broker in the UK. eToro’s simple, well-designed trading platform places copy trading and its social network at the heart of its trading experience. However, these features are often more popular among beginners who haven’t yet developed advanced trading strategies.

eToro clients can only use eToro’s trading platform, so they will not have access to the automation tools available on common third-party platforms like MT4 and MT5. We were also disappointed by eToro’s high fees. These include currency conversion fees for deposits and withdrawals in currencies other than USD and a charge of 5 USD for each withdrawal. We also found eToro’s customer service to be generally non-responsive and we were let down by the lack of educational support.

Overall, eToro has many positive features for beginners and others who enjoy social trading, but more experienced traders may find eToro’s limitations and high non-trading fees difficult to overlook.

Which broker has the highest overall rating?

XTB has an overall rating of 4.39 and eToro has an overall rating of 3.68. For more detail please read our reviews of XTB and eToro.

Others Also Visit

Scroll for more detailsPreviousNext
Visit
AvaTrade
4.59 /5
Read Review
Visit
Tickmill
4.58 /5
Read Review
Visit
XM
4.45 /5
Read Review
Visit
Pepperstone
4.61 /5
Read Review
Visit
XTB
4.39 /5
Read Review
Visit

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Close
>