Compare MTrading vs eToro
What is MTrading? What is eToro?
MTrading is an online broker that provides trading services for forex, CFDs, crypto, and commodities. MTrading is regulated by the Financial Services Authority of Saint Vincent and the Grenadines and is a member of The Financial Commission, an independent dispute resolution organization. MTrading offers four types of accounts: Standard, Pro, ECN, and Crypto. MTrading uses the MetaTrader 4 platform as its main trading platform.
eToro is an online broker that offers trading and investing services for stocks, ETFs, forex, CFDs, crypto, and commodities. eToro is regulated by the Cyprus Securities and Exchange Commission, the Financial Conduct Authority in the UK, the Australian Securities and Investments Commission, and the Financial Services Regulatory Authority in the United Arab Emirates. eToro also offers social trading features, such as CopyTrader and CopyPortfolios, which allow users to copy the trades or portfolios of other users or experts. eToro uses its own proprietary platform as its main trading platform.
MTrading vs eToro Regulation Comparison
Both MTrading and eToro are regulated by multiple authorities in different jurisdictions. However, eToro has more reputable regulators than MTrading, such as the FCA in the UK and ASIC in Australia. These regulators have stricter rules and higher standards for investor protection than the FSA of Saint Vincent and the Grenadines, which is the main regulator of MTrading. Therefore, eToro may be considered more reliable and trustworthy than MTrading in terms of regulation.
MTrading vs eToro Trading Assets Comparison
MTrading and eToro offer a variety of trading assets for their clients. However, eToro has a wider range of assets than MTrading, especially in stocks and ETFs. eToro allows users to trade over 2,000 stocks and 250 ETFs from 17 markets around the world, while MTrading only offers CFDs on 100 stocks and 10 ETFs from 4 markets. Moreover, eToro offers zero-commission trading on stocks and ETFs, while MTrading charges a commission of $4 per lot on these assets.
Both brokers offer forex, CFDs, crypto, and commodities trading. However, there are some differences in the number and types of these assets. For example, eToro offers 47 currency pairs, while MTrading offers 38. eToro also offers more crypto assets than MTrading, with 16 coins versus 9. On the other hand, MTrading has more commodities than eToro, with 19 versus 15.
MTrading vs eToro Trading Fees Comparison
The trading fees of MTrading and eToro depend on the type of account and asset that you trade. Both brokers charge a fixed spread on forex and CFDs trading, but the spread may vary depending on the market conditions and liquidity. The average spread for EUR/USD is 1 pip for both brokers on their standard accounts.
MTrading charges a commission of $4 per lot on stock and ETF CFDs trading, while eToro does not charge any commission on these assets. However, eToro charges a conversion fee of 0.5% when you deposit or withdraw funds in a different currency than USD, which is the base currency of your account. MTrading does not charge any conversion fee on deposits or withdrawals.
Both brokers charge an overnight funding fee or swap fee when you hold a leveraged position overnight. This fee is based on the interest rate differential between the two currencies involved in the trade. The fee may be positive or negative depending on the direction of your trade and the interest rate difference.
Both brokers also charge an inactivity fee if you do not log in to your account or trade for a certain period of time. For MTrading, the inactivity fee is $10 per month after 6 months of inactivity. For eToro, the inactivity fee is $10 per month after 12 months of inactivity.
MTrading vs eToro Account Types Comparison
- MTrading offers four types of accounts: Standard, Pro, ECN, and Crypto. The minimum deposit for each account is $10. The main differences between these accounts are the spreads, commissions, leverage, and available assets.
- The Standard account has fixed spreads starting from 1 pip on forex and no commission on forex or CFDs trading. The leverage is up to 1:1000 on forex and up to 1:100 on CFDs. The available assets are forex (38 pairs), stock CFDs (100), ETF CFDs (10), crypto CFDs (9), commodity CFDs (19), index CFDs (11), bond CFDs (2), metal CFDs (4), energy CFDs (3), and futures CFDs (4).
- The Pro account has fixed spreads starting from 0.5 pips on forex and a commission of $4 per lot on forex and CFDs trading. The leverage is up to 1:500 on forex and up to 1:100 on CFDs. The available assets are the same as the Standard account.
- The ECN account has variable spreads starting from 0 pips on forex and a commission of $6 per lot on forex and CFDs trading. The leverage is up to 1:500 on forex and up to 1:100 on CFDs. The available assets are the same as the Standard account.
- The Crypto account has fixed spreads starting from 0 pips on crypto and a commission of 0.25% per trade on crypto trading. The leverage is up to 1:3 on crypto. The available assets are crypto (9 coins).
- eToro offers only one type of account for retail clients, which is the standard account. The minimum deposit for this account is $200 for most countries, but it may vary depending on your region. The leverage is up to 1:30 on forex, up to 1:10 on commodities, up to 1:5 on stocks and ETFs, and up to 1:2 on crypto. The available assets are forex (47 pairs), stock (over 2,000), ETF (over 250), crypto (16 coins), commodity CFDs (15), index CFDs (13), and currency CFDs (4).
- eToro also offers a professional account for clients who meet certain criteria, such as having sufficient trading experience, knowledge, and portfolio size. The professional account has higher leverage than the retail account, up to 1:400 on forex, up to 1:100 on commodities, up to 1:20 on stocks and ETFs, and up to 1:5 on crypto. The professional account also has lower margin requirements and access to exclusive webinars and events.
MTrading vs eToro Deposit Options Comparison
MTrading offers various deposit and withdrawal options for its clients, such as credit/debit cards, bank wire transfer, Skrill, Neteller, local bank transfer, crypto, and Tether (USDT). MTrading does not charge any deposit or withdrawal fees, except for bank wire transfer, which may incur some fees from the intermediary banks. The processing time for deposits is usually instant or within a few hours, except for bank wire transfer, which may take up to 5 business days. The processing time for withdrawals is usually within one business day, except for bank wire transfer, which may take up to 5 business days.
eToro also offers various deposit and withdrawal options for its clients, such as credit/debit cards, bank wire transfer, PayPal, Skrill, Neteller, Rapid Transfer, iDEAL, Sofort, Giropay, Trustly, WebMoney, YooMoney, UnionPay, and online banking. eToro does not charge any deposit fees, but it charges a withdrawal fee of $5 per transaction. The processing time for deposits is usually instant or within a few hours, except for bank wire transfer, which may take up to 5 business days. The processing time for withdrawals is usually within one business day.
MTrading vs eToro Trading Platforms Comparison
MTrading uses the MetaTrader 4 platform as its main trading platform. MetaTrader 4 is a popular and widely used platform that offers various features and tools for traders, such as advanced charting, technical indicators, automated trading with Expert Advisors (EAs), customisable interface, market news and alerts, and more. MTrading provides the MetaTrader 4 platform in different versions, such as desktop software for Windows and Mac computers, web-based platform that runs on any browser without installation, and mobile apps for iOS and Android devices.
eToro uses its own proprietary platform as its main trading platform. eToro’s platform is user-friendly and easy to use for beginners and experienced traders alike. It offers various features and tools for traders, such as social trading with CopyTrader and CopyPortfolios, advanced charting with technical indicators and drawing tools, market news and analysis from eToro’s experts and partners, customisable watchlists and alerts, portfolio management tools with risk scores and statistics, and more. eToro provides its platform in different versions as well: web-based platform that runs on any browser without installation; mobile apps for iOS and Android devices; eToro Wallet app that allows users to store and transfer their crypto assets; eToro Money app that allows users to open a multi-currency account with a debit card.
MTrading vs eToro Analytical Tools Comparison
- Technical indicators: These are mathematical calculations based on the price, volume, or open interest of an asset. They help to identify trends, patterns, momentum, volatility, and other aspects of the market. Both brokers offer a range of technical indicators, such as moving averages, Bollinger bands, Fibonacci retracements, Ichimoku clouds, and more. However, eToro has more indicators than MTrading, with over 100 versus 38. eToro also allows users to customize the indicators’ settings and parameters, while MTrading only offers fixed values.
- Drawing tools: These are graphical tools that allow users to draw lines, shapes, and annotations on the charts. They help to mark support and resistance levels, trend lines, channels, and other features of the market. Both brokers offer a variety of drawing tools, such as arrows, rectangles, circles, ellipses, triangles, and more. However, eToro has more drawing tools than MTrading, with over 50 versus 19. eToro also allows users to save and load their drawings, while MTrading does not have this feature.
- Chart types: These are different ways of displaying the price movements of an asset over time. They help to visualize the market action and identify patterns and signals. Both brokers offer several chart types, such as line, bar, candlestick, Heikin-Ashi, and more. However, eToro has more chart types than MTrading, with 12 versus 9. eToro also allows users to switch between different time frames, from one minute to one month, while MTrading only offers four time frames: daily, weekly, monthly, and yearly.
Some of the unique tools that each broker offers are:
- MTrading: MTrading offers a tool called ProCharts, which allows users to compare charts from different assets and time frames in one screen. This can help users to spot correlations and divergences between different markets and instruments. ProCharts also allows users to trade directly from the charts by placing orders and managing positions.
- eToro: eToro offers a tool called Social Trading, which allows users to copy the trades or portfolios of other users or experts on the platform. This can help users to learn from successful traders and diversify their investments. Social Trading also allows users to interact with other traders and share their insights and opinions.
MTrading vs eToro. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose. Both MTrading and eToro have their own advantages and disadvantages, depending on your trading goals, preferences, and needs. Therefore, the best way to decide is to compare them based on some important criteria, such as regulation, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms, and analytical tools.
Ultimately, the best way to decide which broker is more suitable for you is to test them out by opening a demo account or a real account with a small deposit and testing their service and performance.
