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eToro vs IronFX 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between eToro and IronFX? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, eToro ranks more highly than IronFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Compare

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Overall Rating eToro IronFX
Overall Rating 8.8 / 10 7.2 / 10
Account Type eToro IronFX
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No No
Copy Trading eToro IronFX
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency eToro IronFX
Cryptocurrency (Physical) info Yes No
Cryptocurrency (CFD) Yes Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) eToro IronFX
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) eToro IronFX
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments eToro IronFX
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms eToro IronFX
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
Regulatory Licenses eToro IronFX
Tier-1 Licenses info 2 2
Australia (ASIC Authorised) info Yes Yes
Canada (SRO Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
Hong Kong (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
USA (CFTC Authorized) info No No
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 1
Research, Education eToro IronFX
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info No Yes
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs eToro IronFX
Minimum Deposit info $10-$10,000 $50
Average Spread EUR/USD - Standard info 1 info 1.2
All-in Cost EUR/USD - Active info N/A N/A
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
Trading Tools eToro IronFX
Watchlists - Total Fields info 6 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 66 30
Mobile Charting - Indicators / Studies info 5 30
Trust Factors eToro IronFX
Year Founded info 2007 2010
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 93 84
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eToro vs IronFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs IronFX.

Can I trust eToro?

eToro has a trust score of 93, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust IronFX?

IronFX has a trust score of 84, giving it a "Trusted" trust label.

Is eToro a good broker?

Best known for its versatile social copy trading platform suite for web and mobile, eToro also offers a large selection of cryptocurrency products, as well as CFDs, shares, forex pairs, and a wide range of powerful trading tools. While not a discount broker, eToro delivers more benefits than its competitors in the same price range.

Is IronFX a good broker?

IronFX is a MetaTrader-only broker that has worked hard to rebuild its trust factor by securing additional regulatory licenses, as well as taking action to improve the brand's offerings. Spreads at IronFX are higher than the industry average, but the broker has done a nice job putting together some decent educational materials for beginners.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. both eToro and IronFX are Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both eToro and IronFX are Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses eToro is none, while IronFX is Bermuda (BMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

For trading platforms eToro supports a Proprietary Platform, whereas IronFX supports a Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does eToro offer MetaTrader? Does IronFX offer MetaTrader?

For MetaTrader eToro provides neither of these, while IronFX provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)

How do eToro and IronFX differ in terms of minimum deposit? What about average spreads and funding options?

eToro requires a minimum deposit of $10-$10,000, while IronFX requires a minimum deposit of $50. From our testing we found eToro offers spreads of 1, while IronFX offers spreads of 1.2. eToro supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where IronFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, eToro or IronFX?

eToro offers a more diverse selection of investment options than IronFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, eToro has 3458, compared to 340 from IronFX.

Can I trade cryptocurrency with eToro or IronFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither eToro nor IronFX allow you to trade physical cryptocurrencies.

Who offers more research tools, eToro or IronFX?

In terms of research and research tools eToro gives traders the following tools: Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading. In comparison IronFX has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.. Neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

eToro Review

IronFX Review

Overall winner: eToro

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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