eToro vs FxPro: Comparison and Analysis

eToro vs FxPro: A Comparison Summary

When it comes to choosing a broker, there are many factors to consider. In this comparison summary, we will take a look at eToro and FxPro, two popular brokers in the market, and examine their features, services, and fees.

Security

Both eToro and FxPro have strong security measures in place and are regulated by reputable authorities such as CySEC, ASIC, and FCA. However, eToro is registered with FinCEN, which makes it eligible for US traders, giving it an edge over FxPro in this regard. Both brokers have a security rating of 95.

Demo Accounts

eToro offers an unlimited demo account with $100,000 in virtual funds. The virtual funds can be restored by contacting customer support. FxPro offers a demo account with a duration of 180 days and $100,000 in virtual funds, which can be restored directly from the FxPro Direct dashboard. eToro has an advantage over FxPro in terms of the duration of its demo account.

Account Opening

The minimum deposit for eToro is $200 for most countries, while FxPro requires a minimum deposit of $100. eToro only offers USD as the account currency, which may not be ideal for those depositing in currencies other than the US Dollar. FxPro offers a wider range of account currencies, including USD, EUR, GBP, CHF, PLN, AUD, JPY, and ZAR. Both brokers offer various types of accounts, including Islamic and Professional accounts.

Social-Copy Trading

eToro is the best player in the market for offering copy and social trading. It provides a proprietary platform that enables traders to copy the trades of other successful traders. FxPro does not offer any social or copy trading features, making eToro the clear winner in this category.

Markets

eToro offers a wider range of markets, including Forex, Commodities, Indices, Crypto assets, Stocks, ETFs, and Futures and Options. It also offers both CFDs and real assets for Crypto, Stocks, and ETFs, making it suitable for both short-term and long-term investments. FxPro offers Forex, Commodities, Indices, Crypto assets, Stocks, and Futures and Options, but only as CFDs, which may not be suitable for long-term investments. eToro has an edge over FxPro in terms of the variety of markets and investment options it offers.

Trading Fees

eToro offers variable spreads starting from 1 pip on Forex, which is above the market average. However, it offers zero-commission real stocks and ETFs for CySEC, FCA, and ASIC traders, with the possibility to start investing with just $10. However, other commissions may still apply. FxPro offers both variable and fixed spreads, with variable spreads starting from 0.1 pips on Forex, which is lower than the market average. However, its fixed spreads start from 1.6 pips on Forex, which is higher than the market average. In terms of trading fees, it’s a tie between the two brokers, as each has its own strengths.

Platforms

eToro offers a proprietary platform that is available via web and mobile devices. It is user-friendly and specialised in copy and social trading. FxPro offers a range of platforms, including FxPro EDGE via WebTrader and FxPro Mobile App, MetaTrader 4 (MT4) available via WebTrader, Desktop, and Mobile, MetaTrader 5 (MT5) available via WebTrader, Desktop, and Mobile, and cTrader available via WebTrader, Desktop, and Mobile. Both brokers offer a range of platforms, but eToro’s proprietary platform is more specialised in copy and social trading, which gives it an advantage over FxPro in terms of user experience.

Education/Customer Care

eToro provides high-quality education material, including blog articles, fintech guides, trading videos, webinars, and seminars. Its customer care is easy to contact via email and live chat. FxPro’s education material is limited, with only basic video tutorials and PDF guides available for beginners, and very few resources for professionals. However, its customer care is available in over 30 languages and can be contacted via phone, email, and live chat.

Conclusion

In summary, both eToro and FxPro have their strengths and weaknesses. eToro has an edge in terms of social and copy trading, unlimited demo account duration, a wider range of markets, and specialised proprietary platforms. On the other hand, FxPro has an advantage in terms of account opening, a wider range of account currencies, lower variable spreads, and a wider range of trading platforms. It’s important to consider your specific needs and preferences when choosing between these two brokers.