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eToro vs RoboForex (RoboMarkets) 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between eToro and RoboForex (RoboMarkets)? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, eToro ranks more highly than RoboForex (RoboMarkets).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Overall Rating 8.4 / 10 7.1 / 10 9.7 / 10
Account Type expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account No Yes No
Copy Trading expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Social Trading / Copy Trading Yes Yes Yes
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Cryptocurrency (Physical) Yes No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No Yes
Social Trading / Copy Trading Yes Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes No Yes
ETF Yes Yes Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes No Yes
Desktop Platform (Windows) No Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) No Yes Yes
MetaTrader 5 (MT5) No Yes No
Regulatory Licenses expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Tier-1 Licenses 2 0 7
ASIC Authorised (Australia) Yes No Yes
IIROC Authorised (Canada) No No No
FCA Authorised (U.K.) Yes No Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) No No Yes
FINMA Authorised (Switzerland) No No Yes
CFTC Registered (USA) No No Yes
Tier-2 Licenses 1 1 2
Tier-3 Licenses 1 1
Research, Education expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Trading Central (Recognia) Yes No No
Forex News (Top-Tier Sources) No Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist No No Yes
Investor Dictionary (Glossary) Yes No Yes
Videos - Beginner Trading Videos Yes No Yes
Client Webinars (Archived) Yes Yes Yes
Trading Costs expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Minimum Initial Deposit $10-$200 $100 ยฃ250.00
Average Spread EUR/USD - Standard 1 (August 2021) 1.4 (Jan 2022) 0.828 (September 2021)
All-in Cost EUR/USD - Active N/A N/A 0.365 (May 2020)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes Yes Yes
Trading Tools expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Watchlists - Total Fields 6 7 14
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 66 30 32
Mobile Charting - Indicators / Studies 5 30 32
Trust Factors expand_moreexpand_less eToro RoboForex (RoboMarkets) IG
Year Founded 2007 2009 1974
Publicly Traded (Listed) No No Yes
Bank No No Yes
Authorised in European Union Yes Yes Yes
Trust Score 93 69 99
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eToro vs RoboForex (RoboMarkets) Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs RoboForex (RoboMarkets).

Can I trust eToro?

eToro has a trust score of 93, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust RoboForex (RoboMarkets)?

RoboForex (RoboMarkets) has a trust score of 69, giving it a "High Risk" trust label.

Is eToro a good broker?

Best known for its versatile social copy trading platform suite for web and mobile, eToro also offers a large selection of cryptocurrency products, as well as CFDs, shares, forex pairs, and a wide range of powerful trading tools. Though not a discount broker, eToro offers which includes CFDs, shares, and forex pairs. While not a discount broker, eToro delivers more benefits than its competitors in the same price range.

Is RoboForex (RoboMarkets) a good broker?

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. eToro is ASIC Authorised (Australia) and FCA Authorised (U.K.), while RoboForex (RoboMarkets) is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both eToro and RoboForex (RoboMarkets) are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses eToro is none, while RoboForex (RoboMarkets) is IFSC Authorised (Belize)., neither have SCB Authorised (Bahamas), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms eToro supports a Proprietary Platform, whereas RoboForex (RoboMarkets) supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does eToro offer MetaTrader? Does RoboForex (RoboMarkets) offer MetaTrader?

For MetaTrader eToro provides neither of these, while RoboForex (RoboMarkets) provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do eToro and RoboForex (RoboMarkets) differ in terms of minimum deposit? What about average spreads and funding options?

eToro requires a minimum deposit of $10-$200, while RoboForex (RoboMarkets) requires a minimum deposit of $100. From our testing we found eToro offers spreads of 1 (August 2021), while RoboForex (RoboMarkets) offers spreads of 1.4 (Jan 2022). Both eToro and RoboForex (RoboMarkets) offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.

Which brokers offers more tradeable asset classes, eToro or RoboForex (RoboMarkets)?

eToro offers a more diverse selection of investment options than RoboForex (RoboMarkets) allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, eToro has 3056, compared to 12000 from RoboForex (RoboMarkets).

Can I trade cryptocurrency with eToro or RoboForex (RoboMarkets)?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither eToro nor RoboForex (RoboMarkets) allow you to trade physical cryptocurrencies.

Who offers more research tools, eToro or RoboForex (RoboMarkets)?

In terms of research and research tools eToro gives traders the following tools: Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading. In comparison RoboForex (RoboMarkets) has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Autochartist




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