image eToro VISIT ETORO image CMC Markets VISIT CMC MARKETS image IG VISIT IG
About

eToro is regulated by CySEC. eToro have provided Forex trading services since 2006. 66% of retail CFD accounts lose money

CMC Markets is regulated by the Financial Conduct Authority, NFA and ACN. CMC Markets have provided Forex trading services since 1989.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC, ASIC
  • Yes Over 29 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters Limassol, Cyprus London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No Yes Yes
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 47 32 90
Commodities Offered 6 0 34
Stocks Offered 957 9000 8000
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes No Yes
Dow Jones No No Yes
Dax Yes Yes Yes
Nikkei Yes No Yes
ETFs Yes No Yes
IPO No No Yes
See all instruments

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See all instruments

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No No Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader No Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms CopyTrader Next Generation ProRealTime & L2 Dealer

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No No No
Available Languages

English, German, Spanish, French, and Italian

English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian

English, French, German, Spanish, and Portuguese

See platform & features

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See platform & features

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by eToro and CMC Markets

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No No
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes No No
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads Yes No No
Variable spreads No Yes Yes
See account options

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See account options

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping No Yes Yes
Hedging No Yes Yes
Expert advisors (EAs) No No Yes
Virtual private server No No Yes
Direct market access No No Yes
STP broker Yes No Yes
Market maker Yes Yes No
Min trade $25 Varies £1
Max trade 20% of equity Varies Variable
Min deposit $200 $200 $250

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller Yes No No
Skrill Yes No No
Payment processing time Varies 1-5 business days Varies
Withdrawal processing time Varies 1-2 business days Varies
See all funding options

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See all funding options

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 44-866-350-0881 +1300 303 888 44 20 7633 5300
Live Chat Yes No Yes
Website www.etoro.com https://www.cmcmarkets.com http://www.ig.com/
Forex Spreads
EUR/USD 3.00 0.70 0.60
GBP/USD 0.90 0.90
USD/JPY 0.70 0.70
AUD/USD 4.0 0.9 0.6
Cryptocurrency Spreads 42 N/A 10
View all FX spreads

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

View all FX spreads

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 100.0 N/A 1.0
Nasdaq 100 300.0 N/A 1.0
Euro Stoxx 50 300.0 N/A 1.5
ASX 200 1.0
S&P 500 100.0 N/A 0.4
FTSE 100 100.0 N/A 1.0
Google 27.0 N/A 1 to 20
Facebook 8.0 N/A 4 points per side
View all spreads

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

View all spreads

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee Yes Yes Yes
Commission No Yes, 0.10% Yes (0.1%)
Deposit Fee No Varies Varies
Withdrawal Fee Yes Varies No
View All Fees

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

View All Fees

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

Featured In Best Social Trading Brokers
Best Day Trading Brokers
Best Bitcoin Brokers
Best Ethereum Brokers
Best Brokers For Commodities
Best CFD Brokers
Best Spread Betting Brokers
Best Brokers For Stocks
Best Brokers For Indices
Best FCA Regulated Brokers
Best Brokers For Commodities
Best Brokers For Stocks
Best Brokers For Copper
Best DAX Brokers
Best Brokers That Accept Credit Cards
Last update

All information collected from www.etoro.com. Last updated on 01/06/2019.

All information collected from https://www.cmcmarkets.com. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

Company

Founded in 2006 and based out of Tel-Aviv, eToro enables traders to follow various sectors including nearly two hundred and fifty different stocks. CFD and currency trades are likewise a possibility. As of this year, eToro boasts more than six million members worldwide.

For more information about trading with eToro, we have put together an indepth eToro review with all the pros and cons about this broker.

CMC Markets were founded in 1989 and are one of the leading CFD and spread betting providers. The main differentiator about CMC Markets is their bespoke award-winning trading platform. CMC Markets also offer very reasonable spreads and offer a wide range of instruments.

For more information about trading with CMC Markets, we have put together an indepth CMC Markets review with all the pros and cons about this broker.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

Popular comparisons

Popular comparisons feat. eToro

eToro Alternatives

eToro vs Tradeo
eToro vs Stock.com
eToro vs Plus500
eToro vs IG
eToro vs Zulutrade

Popular comparisons feat. CMC Markets

CMC Markets Alternatives

ETX Capital vs CMC Markets
Core Spreads vs CMC Markets
Plus500 vs CMC Markets
IG vs CMC Markets
Avatrade vs CMC Markets

Popular comparisons feat. IG

IG Alternatives

IG vs CMC Markets
IG vs ETX Capital
IG vs Plus500
IG vs City Index
IG vs Core Spreads

eToro or CMC Markets?

Offers VIP accounts or low spreads?

If you’re a trader looking for a broker that offers VIP accounts, eToro may be the better option. However, if you want a broker with lower spreads on currency pairs like EUR/USD, CMC Markets may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider eToro and CMC Markets to be equally reliable. We’ve broken down why below:

Who are they regulated by?

eToro is regulated by Financial Conduct Authority, CySEC, ASIC, while CMC Markets is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both eToro and CMC Markets will have very strict guidelines to follow to ensure they protect their retail trader clients.

IG are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

eToro has been around for 13 years, while CMC Markets have been around for 30 years. Our third alternative broker, IG, have been around for 45 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both eToro and CMC Markets use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on eToro or CMC Markets in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

eToro is more popular with over 6,000,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

eToro is a privately owned company, while on the other hand CMC Markets is still a publicly listed company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

eToro are based in Limassol, Cyprus, while CMC Markets are based in London, UK.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both eToro and CMC Markets offer forex trading. eToro have a slightly larger variety of currency pairs with 47 pairs, compared to 32 offered by CMC Markets. Also, if you’re looking to trade cryptocurrencies, eToro offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both eToro and CMC Markets allow you to trade commodities like gold, silver and crude oil.

eToro also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

eToro also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. eToro, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

While CMC Markets also allows scalping and hedging. You can't trade EAs (expert advisors) with either eToro or CMC Markets.

In terms of risk management tools, neither eToro or CMC Markets offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

eToro also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

eToro accept Paypal while CMC Markets accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, eToro charges 3.00 points, while CMC Markets charges 0.70 points. Therefore, CMC Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: eToro or CMC Markets?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, CMC Markets is more reliable based on our criteria above. CMC Markets has a wider range of instruments to trade. eToro offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.