Compare ThinkMarkets vs eToro
What is ThinkMarkets? What is eToro?
ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.
eToro is a top-rated multi-asset platform which offers both investing in stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. eToro also features a popular social trading and copy trading app.
ThinkMarkets vs eToro Regulation Comparison
Both ThinkMarkets and eToro are regulated by the FCA in the UK and ASIC in Australia, which are considered highly trusted regulators. ThinkMarkets also holds licenses from Japan (SFC), New Zealand (FMA) and South Africa (FSCA), while eToro holds licenses from Cyprus (CySEC) and Seychelles (FSAS).
ThinkMarkets vs eToro Trading Assets Comparison
ThinkMarkets offers a wider range of trading assets than eToro, with 3479 tradeable symbols compared to 1674 for eToro. ThinkMarkets has more stocks and ETFs (3500+ vs 2000+), more forex pairs (46 vs 52) and more cryptocurrencies (20+ vs 16). However, eToro allows traders to buy physical stocks and cryptoassets, while ThinkMarkets only offers CFD trading.
ThinkMarkets vs eToro Trading Fees Comparison
ThinkMarkets has lower trading fees than eToro, especially for the ThinkZero account which offers very tight spreads and a low $3.5 commission per side. eToro charges higher spreads on most instruments, as well as currency conversion fees for account denominations other than USD. Both brokers charge an inactivity fee after 12 months of no trading activity.
ThinkMarkets vs eToro Account Types Comparison
ThinkMarkets offers two main account types: Standard and ThinkZero. The Standard account has no commission but higher spreads, while the ThinkZero account has lower spreads but a $3.5 commission per side. The minimum deposit for the Standard account is $250, while the minimum deposit for the ThinkZero account is $500. ThinkMarkets also offers Islamic accounts for Muslim traders.
eToro offers only one account type for retail traders, with a minimum deposit of $200 ($50 for US residents). eToro also offers a Professional account for experienced traders who meet certain criteria, such as having a portfolio size of over $500,000 or having worked in the financial sector for at least one year. The Professional account has higher leverage and lower margin requirements than the retail account.
ThinkMarkets vs eToro Deposit Options Comparison
ThinkMarkets has fewer deposit and withdrawal options than eToro, as it only accepts bank wire transfers, credit/debit cards and Skrill. eToro accepts these methods as well as PayPal, Neteller, Rapid Transfer, Sofort, iDeal and Klarna. Both brokers do not charge any deposit fees, but eToro charges a $5 withdrawal fee while ThinkMarkets does not charge any withdrawal fees.
ThinkMarkets vs eToro Trading Platforms Comparison
ThinkMarkets offers three stable and award-winning platforms: Trade Interceptor, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Trade Interceptor is a bespoke platform with advanced features such as Traders’ Gym simulation tool, TrendRisk Scanner and cloud-based alerts. MT4 and MT5 are popular platforms with customisable charts, indicators and Expert Advisors (EAs). ThinkMarkets also provides free VPS hosting for MT4 and MT5 users.
eToro offers only one proprietary platform that is web-based and mobile-friendly. The platform is easy to use and has innovative features such as social trading, copy trading and CopyPortfolios. However, the platform lacks some advanced tools such as custom indicators, backtesting and automated trading. eToro does not support MT4 or MT5 platforms.
ThinkMarkets vs eToro Analytical Tools Comparison
ThinkMarkets provides more analytical tools than eToro, especially for MT4 and MT5 users who can access a wide range of technical indicators, charting tools and EAs. ThinkMarkets also integrates with Signal Centre, a third-party service that provides trading signals and analysis. eToro has fewer analytical tools, mainly relying on its social trading and copy trading features to provide market insights and sentiment.
ThinkMarkets vs eToro. Which forex broker is better? Which forex broker should you choose?
ThinkMarkets and eToro are both reputable and regulated forex brokers, but they have some differences that may suit different types of traders. Here are some factors to consider when choosing between them:
- Trading assets: ThinkMarkets offers a wider range of trading assets than eToro, with more stocks, ETFs, forex pairs and cryptocurrencies. However, eToro allows traders to buy physical stocks and cryptoassets, while ThinkMarkets only offers CFD trading .
- Trading fees: ThinkMarkets has lower trading fees than eToro, especially for the ThinkZero account which offers very tight spreads and a low commission. eToro charges higher spreads on most instruments, as well as currency conversion fees and a withdrawal fee .
- Trading platforms: ThinkMarkets offers three stable and award-winning platforms: Trade Interceptor, MT4 and MT5. These platforms have advanced features such as custom indicators, backtesting and automated trading. eToro offers only one proprietary platform that is easy to use and has innovative features such as social trading and copy trading. However, the platform lacks some advanced tools and does not support MT4 or MT5 .
- Analytical tools: ThinkMarkets provides more analytical tools than eToro, especially for MT4 and MT5 users who can access a wide range of technical indicators, charting tools and EAs. ThinkMarkets also integrates with Signal Centre, a third-party service that provides trading signals and analysis. eToro has fewer analytical tools, mainly relying on its social trading and copy trading features to provide market insights and sentiment .
Ultimately, the best forex broker for you depends on your personal preferences, trading style and goals. You may want to try out both brokers with a demo account before making a decision.
