eToro vs FP Markets

If you are reading this article, you’re likely having trouble deciding whether eToro or FP Markets is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.

In this eToro vs FP Markets review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:

Feature eToro (visit site) FP Markets (visit site)
eToro FP Markets
Headquarter: Cyprus Australia
Regulation :
CySEC, FCA, ASIC CySEC, ASIC
Type of Broker:
Market Maker No Dealing Desk
U.S. Clients Allowed:
Minimum Deposit:
$50 $100
Maximum Leverage:
1:30 1:500
Commissions / Spreads:
Spreads Both
Account 1:
CFD Standard
Account 2:
Professional Raw
Account 3:
Iress
Account 4:
Demo Account:
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages:
  • English
  • Chinese
  • Other
  • English
  • Chinese
  • Other
Support Hours:
24/5 24/5
E-mail Support:
SMS Support:
Chat:
Broker Offers:

Features and Platforms

Social traders who prefer to follow other traders hassle-free and those without intention to learn how to trade will feel at home at eToro. With more than 13,000,000 traders, it offers access to one of the largest trading communities. While 75% of traders lose money at eToro, per its account, the fifty most-copied traders in 2019 achieved an average return of 29.1%. FP Markets caters to sophisticated traders and fund managers. It fully supports automated trading solutions and enables social trading via eToro competitor Myfxbook AutoTrade. The Traders Toolbox, consisting of 12 MT4 add-ons, adds tremendous value to clients.

Feature eToro FP Markets
Type of Platform: Proprietary platform MetaTrader 4, MetaTrader 5, IRESS
Platform Languages:
  • English
  • Spanish
  • Italian
  • French
  • German
  • Other
  • English
OS Compatibility:
  • Windows
  • Mobile
  • Web
  • iPhone
  • iPad
  • Windows
  • Mobile
  • Web
  • iPhone
  • iPad
Trading Signals:
Charting Package:
Market Analysis:
Chart Trading:
Automated Trading:
Scalping:
Hedging:
Mobile Alerts:
Trailing Stops:
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Guaranteed Execution:
One-click Execution:
Interest on Margin:
Web-based Trading:
Mobile Trading:

Available Markets

One of the best features at eToro is its overall asset selection above 2,300, but FP Markets takes the lead, where traders have more than 10,000. At both brokers, equity CFD accounts for the bulk of them. eToro maintains just 49 currency pairs, well below average compared to all online brokers, while FP Markets has more than 60. eToro shines with its 93 cryptocurrency pairs, an area where FP Markets fails to deliver choices with just five. Most retail traders have more than enough assets for cross-asset diversification, but FP Markets maintains a visible edge for demanding traders.

Feature eToro FP Markets
ETFs:
CFDs:
Commodities:
Metals:
Stocks:
Oil:
Gold:
Binary Options:
Indices:

Typical Spreads and Fees

The commission-free trading accounts at eToro and FP Markets feature high mark-ups, with a minimum of 1.0 pips at both. FP Markets has a commission-based alternative with a raw spread of 0.0 pips for a commission of $6.00 per round lot. Fees for equity trading at eToro are 0.09% and 0.10% at FP Markets with a $10 minimum cost. Swap rates on leveraged overnight positions apply at both, and eToro and FP Markets pass corporate actions on to traders. eToro charges an unacceptable $5 withdrawal fee, and an inactivity charge is present at both brokers. FP Markets maintains a lower overall cost structure.

Security and Trust

From a security and trust perspective, eToro and FP Markets deliver an equal trading environment. Both have oversight from the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities & Investments Commission (ASIC). eToro operates a unit in the US, registered as a Money Services Business with FinCEN, and FP Markets caters to most international traders from its unregulated but registered entity out of St. Vincent & the Grenadines. Both segregate client deposits from corporate funds and maintain a clean regulatory track record. FP Markets has more operating history than eToro, which has more clients, and both are trustworthy brokers.

eToro vs FP Markets – Verdict

While eToro provides social traders with a competitive selection of assets and one of the largest trading communities, it fails to cater to all other traders. CopyTrader and CopyPortfolios remain attractive for those seeking to copy others and help eToro expand its client base. The simplicity makes both products appareling to new traders without experience, time, and desire to become traders. The absence of the MT4 trading platform and its advanced possibilities is notable. FP Markets caters to social trading via Myfxbook AutoTrade, directly from the MT4 trading platform. Traders may also opt for MT5 or the proprietary Iress, but availability is geographically restricted. FP Markets maintains a more competitive cost structure, superior asset selection, and higher leverage. Its trading tools further distance it from eToro, unable to compete with the product and services portfolio at FP Markets. FP Markets provides a better trading environment across the board.

Read full eToro Review

FAQs

Which is the more reliable broker?

eToro and FP Markets offer traders an equally reliable, secure, and trustworthy trading environment.

Does eToro or FP Markets offer lower pricing?

The commission-free account at both offers a minimum mark-up of 1.0 pips, but FP Markets offers an ECN alternative with raw spreads of 0.0 pips for a commission of $6.00.

Which trading platform is better: eToro or FP Markets?

FP Markets offers by far the better trading platform choices with an upgraded MT4. The MT4 and Iress trading platforms are also available, while eToro maintains a below-average solution.

How many Forex pairs and CFDs are available to trade?

Traders at eToro have 49 Forex pairs and over 2,300 CFDs. FP Markets maintains more than 60 and 10,000, respectively.