Compare eToro vs RoboMarkets
What is eToro? What is RoboMarkets?
eToro is a multi-asset platform that offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro has over 25 million users worldwide and is regulated by several authorities, including the FCA and CySEC.
RoboMarkets is a forex, CFD and stock broker that targets traders from Europe. RoboMarkets offers access to over 12,000 instruments across six asset classes and supports three leading platforms, including MetaTrader 4. RoboMarkets is licensed by CySEC and follows the MiFID II directive.
eToro vs RoboMarkets Regulation Comparison
eToro has a higher trust score than RoboMarkets, as it holds three global Tier-1 licenses (from ASIC, FCA and CySEC), while RoboMarkets holds only one (from CySEC). Both brokers have no Tier-2 or Tier-3 licenses. eToro is also authorized by MiFID and registered with other regulators in various countries. RoboMarkets is a member of the Investor Compensation Fund (ICF) and provides negative balance protection to its clients.
eToro vs RoboMarkets Trading Assets Comparison
eToro offers a wider range of trading assets than RoboMarkets, as it has 52 forex pairs, 3479 CFDs (including stocks, indices, commodities, ETFs and cryptocurrencies), and non-CFD trading of US and international stocks. RoboMarkets has 36 forex pairs, 12000 CFDs (including stocks, indices, metals, energy, commodities and cryptocurrencies), and non-CFD trading of US stocks2. Both brokers allow fractional stock trading.
eToro vs RoboMarkets Trading Fees Comparison
eToro has lower trading fees than RoboMarkets, as it charges no commission on stock trading and offers competitive spreads on forex and CFDs. eToro also has no financing or overnight fees for non-leveraged positions. RoboMarkets charges commissions on some account types and instruments, such as ECN accounts and US stocks. RoboMarkets also has variable spreads that depend on the market conditions and the account type
eToro vs RoboMarkets Account Types Comparison
eToro has fewer account types than RoboMarkets, as it offers only one standard account for all clients, with a minimum deposit of $200 ($50 for US clients). eToro also has an Islamic account option for Muslim traders who follow Sharia law. RoboMarkets has six account types: Pro-Cent, Pro-Standard, ECN-Pro, Prime, R StocksTrader and ISK. The minimum deposit varies from $10 to $500 depending on the account type. RoboMarkets also offers a professional account for experienced traders who can access higher leverage ratios.
eToro vs RoboMarkets Deposit Options Comparison
eToro has more deposit and withdrawal options than RoboMarkets, as it supports bank cards, wire transfers, e-wallets (such as PayPal, Skrill and Neteller), online banking and local payment methods in multiple currencies. eToro charges a flat fee of $5 for withdrawals and a currency conversion fee for deposits in currencies other than USD. RoboMarkets supports bank cards, wire transfers, e-wallets (such as Skrill and Neteller), cryptocurrencies and local payment methods in multiple currencies. Roboarkets does not charge any fees for deposits or withdrawals, except for wire transfers below $500.
eToro vs RoboMarkets Trading Platforms Comparison
eToro has its own proprietary trading platform that is available as a web version or a mobile app for iOS and Android devices. The platform is user-friendly and intuitive, with features such as copy trading, social trading, news feed, charts, indicators and alerts. eToro does not support MetaTrader 4 or MetaTrader 5 platforms. RoboMarkets supports MetaTrader 4, MetaTrader 5 and cTrader platforms, which are available as web versions or desktop applications for Windows and Mac devices, as well as mobile apps for iOS and Android devices. The platforms are advanced and customizable, with features such as multiple order types, automated trading, market analysis tools, charts, indicators and signals.
eToro vs RoboMarkets Analytical Tools Comparison
eToro has more analytical tools than RoboMarkets, as it provides market research reports from third-party providers (such as TipRanks), economic calendar, earnings reports calendar, market sentiment indicators, portfolio performance statistics and risk management tools. eToro also has a comprehensive online training academy that offers courses, webinars, podcasts and videos on various topics related to trading and investing.
RoboMarkets has fewer analytical tools than eToro, as it provides only an economic calendar, market analysis articles, trading calculators, trading signals and a remote VPS server. RoboMarkets also has a limited educational section that offers only some articles and videos on basic trading concepts.
eToro vs RoboMarkets. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences and trading goals. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. However, here are some possible factors that you may consider:
- If you value trust and regulation, you may prefer eToro, as it has a higher trust score and more global licenses than RoboMarkets.
- If you want to trade a wider range of assets, you may prefer eToro, as it offers more forex pairs, CFDs and non-CFD stocks than RoboMarkets .
- If you want to save on trading fees, you may prefer eToro, as it charges no commission on stock trading and has lower spreads on forex and CFDs than RoboMarkets .
- If you want to have more account options, you may prefer RoboMarkets, as it offers six account types with different features and minimum deposits, while eToro offers only one standard account for all clients .
- If you want to have more deposit and withdrawal options, you may prefer eToro, as it supports more payment methods and currencies than RoboMarkets .
- If you want to use advanced and customizable trading platforms, you may prefer RoboMarkets, as it supports MetaTrader 4, MetaTrader 5 and cTrader platforms, while eToro has its own proprietary platform that does not support MetaTrader or cTrader .
- If you want to have more analytical tools and educational resources, you may prefer eToro, as it provides more market research reports, economic calendars, portfolio statistics, risk management tools and online training courses than RoboMarkets .
Ultimately, the best way to decide which broker suits you better is to try them out yourself. You can open a demo account with both brokers and test their services before making a real investment.
