Looking for an eToro Alternative? Try Top Trading Platforms
Traders who are searching for an ideal trading platform or broker must have come across the name eToro as one of the top options. The platform has become popular among global traders and offers users great features, tools and solid trading conditions. From cryptocurrency trading to copy trading, you can have many innovative trading opportunities on eToro. Having said that, it is important to know that eToro is one of many viable options for traders looking for a broker or trading platform. Some good alternatives for eToro offer similar services, and they can be a good match for traders who are not willing to pay the withdrawal fee and other costs that come with trading on eToro.
In this article, we will list some of the best broker platforms of 2023 that can be good alternatives to eToro for those who want to trade cryptocurrencies and forex currency pairs.
Fxview (Top eToro Alternative)
The first alternative broker platform we want to add to the list of best eToro alternatives is Fxview. This trusted broker is regulated by many top-tier authorities, including CySEC, making it a reliable platform for traders. With this broker, you can explore and trade a variety of asset classes, including Crypto and Forex. All major cryptocurrencies like Bitcoin, Ethereum, and Litecoin are trading instruments for CFD trading. They provide many advanced trading tools and features that can be very useful to traders in innovative trading techniques like Algo trading. They also allow copy trading with third-party providers, making it a good contender for eToro.
- The minimum deposit to open an account is $50 for global users and $200 for EU residents.
- Tight spreads start from 0.2 pips.
- Low commission of $1/100k per side.
- Can avail up to 500x leverage.
- No withdrawal fees.
- ECN execution.
- VPS services are available.
This is another alternative to eToro that we have added to our list is Naga. This broker/ trading platform is well-regulated by different authorities like CySEC and BaFin. They offer several cryptocurrencies for trading and also provide social trading services. Due to these features, this multi-asset brokerage can be a good alternative to eToro. You can also use some sophisticated tools and features on the platform for a seamless trading experience. They have also enabled trading automation, allowing users to trade easily and with minimal effort. Basically, the platform can be an option for those who are into crypto trading or social trading.
- A minimum deposit of $250 is needed to start trading.
- Withdrawal fees will be charged.
- The average spread would be 0.9 pips which varies depending on the instrument.
- There will be copy fees added to the trades that get executed.
- Social trading and investing features.
The third broker platform on our list of eToro alternatives is Pepperstone. Reputed authorities like CySEC and FCA back the popular and regulated broker. You can trade a number of asset classes, including forex and cryptocurrency CFDs, on the platform. Bitcoin, Bitcoin Cash, Ethereum and more can be found for trading. They have also integrated with many social trading platforms to give this facility to their clients. They also offer advanced features for automated trading, allowing traders to take their trading to the next level easily.
- You will have to deposit at least AUD$200 to start trading on the platform.
- Spreads start from 0.2 pips on razor accounts, and it’s more for standard accounts.
- A commission of $3.50 is charged.
- They offer max leverage of 500:1.
AvaTrade has secured 4th place in our list of best eToro alternatives. This ASIC-regulated broker also has several other regulations, making them a trusted choice among global traders. They offer many trading instruments in different asset classes, including crypto and currency pairs. They do allow copy trading with 3rd party platforms through which users can copy the trades of expert traders. You can surely add this broker platform to your watch list by checking the trading conditions and seeing if they suit your requirements.
- Spreads starting from 0.9 pips.
- The minimum deposit requirement for account opening is $100.
- You can also use their own trading platform in addition to MT4 and MT5 platforms.
- Automated trading is supported.
- Maximum leverage is 400x.
The last broker we added to our eToro alternative list is FXCM. This top broker is also regulated by multiple authorities, making it a popular trading choice. This ASIC-regulated broker offers a number of trading instruments, including forex, crypto and other CFDs. They also provide copy trading features similar to eToro, making it a worthy option to consider if you are looking for a similar platform. With this broker, you get to trade many popular crypto CFDs, including BTC/USD, ETH/USD & LTC/USD.
- Spreads start from 0.8 pips and have no commission.
- Automated trading and API trading are allowed.
- Can avail leverage up to 400x.
- Can open an account with a minimum deposit of $50.
So, these were some of the best eToro alternatives we have found for new and seasoned traders interested in exploring and trying different brokers and trading platforms. As you can see, the services of these broker platforms are similar to that of eToro and with some of these brokers, you will be able to minimise the cost of trading. Having solid trading conditions is the first and foremost thing you would need for a satisfactory trading experience These broker platforms have also scored high when it comes to customer support and services which is a plus. All these platforms do offer demo accounts, and you can test the quality of services offered by using the demo account facility. To sum it up, take your time to research and proceed with the best option you find for trading in 2023.