⚠️ CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% 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. X

Compare Forex CFD Brokers 2024 : Swissquote vs eToro

Updated May 24th 2024
Welcome to the most in-depth comparison table for the following brokers :

The ForexReviews.nl comparison tool rigorously compares forex brokers on factors like fees, platforms, licenses, apps, spreads, and ratings. Filter and narrow down brokers to find the ones that best suit your preferences compared to its competitors.

Plus500 is a CFD provider and they offer CFD service. All the instruments, including the Forex pairs, are available for trading through CFD

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Overall Rating 4.5 4.5
Offering of Investments 4.5 4.5
Commissions & Fees 3.5 5
Platform & Tools 4.5 4.5
Research 4.5 4.5
Mobile Trading 4.5 4.5
Education 4 5
Trustpilot Reviews 2105 21837
Trustpilot Rating 3.7 4.4
Trustpilot Profile View View
Tier 1 Licenses - 2
Tier 2 Licenses - 1
Tier 3 Licenses - 0
Licenses 6 -
Forex Trading (Spot or CFDs)
Forex Pairs (Total) 78 55
Tradeable Symbols (Total) 472 3479
U.S. Stock Trading (Non CFD)
Int'l Stock Trading (Non CFD)
Social Trading / Copy Trading
Cryptocurrency (Physical)
Cryptocurrency (CFD) no
Crypto Pairs (CFD) 34 92
ETFs no
Shares no
Oil Trading
Licensing Jurisdiction
ASIC Authorised (Australia) no
IIROC Authorised (Canada) no no
SFC Authorised (Hong Kong) no
CBI Authorised (Ireland) no no
FSA Authorised (Japan) no no
MAS Authorised (Singapore) no
FINMA Authorised (Switzerland) no
FCA Authorised (U.K.)
CFTC Registered (USA) no no
FMA Authorised (New Zealand) no no
CBRC Authorised (China) no no
CySEC Authorised (Cyprus) no
SEBI Authorised (India) no no
Israel (ISA Authorised) no no
CBR Authorised (Russia) no no
FSCA Authorised (South Africa) no no
SEC Authorised (Thailand) no no
DFSA / Central Bank Authorised (UAE) no no
SCB Authorised (Bahamas) no no
FSC Authorised (Belize) no no
FSA Authorised (Seychelles) no no
CIMA Authorised (Cayman Islands) no no
BMA Authorised (Bermuda) no no
FSC Authorised (British Virgin Islands) no no
FSC Authorised (Mauritius) no no
VFSC Authorised (Vanuatu) no no
Min. Deposit 1000 50
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
Bank Wire (Deposit/Withdraw)
Webmoney (Deposit/Withdraw) no no
Crypto Funding
Bitcoin (BTC) no no
Litecoin (LTC) no no
Ethereum (ETH) no no
Tether (ERC20) no no
Tether (TRC20) no no
Dogecoin (DOGE) no no
Trading Platforms
Proprietary Platform
Desktop Platform (Windows) no
Desktop Platform (Mac) no no
Web Platform
Social Trading / Copy Trading
Mobile App (Android)
Mobile App (iOS)
Trading Software
MetaTrader 4 (MT4) no
MetaTrader 5 (MT5) no
cTrader no no
DupliTrade no no
ZuluTrade no no
Myfxbook no no
VPS Trading no no
Average Spread EUR/USD - Standard - 1
All-in Cost EUR/USD - Active - -
Active Trader or VIP Discounts
Inactivity Fee no no
Execution: Agency Broker no
Execution: Market Maker no
Daily Market Commentary
Forex News (Top-Tier Sources) no
Autochartist no
Trading Central (Recognia)
Social Sentiment - Currency Pairs
Economic Calendar no
Education (Forex or CFDs)
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Videos - Advanced Trading Videos
Investor Dictionary (Glossary)
Tick History no no
Major Forex Pairs
Mobile Trading
Android App
Apple iOS App
Mobile Alerts - Basic Fields
Mobile Watchlist no
Watchlist Syncing no
Mobile Charting - Indicators / Studies 49 104
Mobile Charting - Draw Trendlines no
Mobile Charting - Multiple Time Frames
Mobile Charting - Drawings Autosave no
Forex Calendar no
Trading Tools
Virtual Trading (Demo) no
Alerts - Basic Fields no
Watchlists - Total Fields 10 6
Charting - Indicators / Studies (Total) 49 104
Charting - Drawing Tools (Total) 275 161
Charting - Trade From Chart no no
Charts can be saved no
Stocks - -
Currencies - -
Indices - -
Commodities - -
Max. Leverage
Overall Max. Leverage 1:100 1:30
Stocks - 1:5
Currencies - 1:30
Indices - 1:20
Commodities - 1:10
Scalping no no
Hedging no
Trailing Stops no
Guaranteed Stop Loss no
Guaranteed Limit Orders no no
Guaranteed Execution no no
Negative Balance Protection no
One-click Execution no
Interest on Margin no no
Demo Account no no
Web-based Trading no
Mobile Native App Trading no
Islamic Account no no
Zero Spreads no no
Trust Score - 93
Year Founded 1996 2007
Compensation Fund - 85000
Publicly Traded (Listed) no
Bank no
Authorised in European Union
Member of The Financial Commission no no
The Financial Commission Profile - -
VerifyMyTrade Audit - -
Public Disclosures
Financial Statements View View
Management Team View View
Email Support no
Phone Support no
SMS Support no no
Live Chat no
Support Hours - -
Monthly Website Visitors 456 K 35.6 M
X Subscribers 27 K 336 K
Youtube Subscribers 20 K 71 K

Can you trust Swissquote?

  • Swissquote was founded in 1996.
  • Swissquote operates a bank and is publicly traded.
  • Swissquote is authorised to operate in the 🇪🇺 European Union.
  • Swissquote is licensed by the 🇬🇧 FCA (UK).

Is Swissquote authorised to operate in the US?

❌ No, Swissquote is not authorised to operate in the United States.

What licenses does Swissquote have to operate?

Swissquote is authorised by the following regulators: SFC Authorised (Hong Kong), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and FCA Authorised (U.K.) .

Does Swissquote publicly discloses their financial statements?

✅ Yes, you can view the financial statements of Swissquote online

Does Swissquote offer trading software like Meta Trader?

✅ Yes, you can trade on Swissquote using MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading software as well as through their proprietary trading platform .

Does Swissquote provide a mobile native app?

✅ Yes, you can trade Swissquote on mobile using Mobile App (Android) and Mobile App (iOS).

Can you trust eToro?

  • eToro was founded in 2007.
  • eToro does not operate a bank and is not publicly traded.
  • eToro is authorised to operate in the 🇪🇺 European Union.
  • eToro is licensed by the world's most strict and feared regulator 🇬🇧 ASIC (AU).
  • eToro is licensed by the 🇬🇧 FCA (UK).

Is eToro authorised to operate in the US?

❌ No, eToro is not authorised to operate in the United States.

What licenses does eToro have to operate?

eToro is authorised by the following regulators: ASIC Authorised (Australia), FCA Authorised (U.K.) and CySEC Authorised (Cyprus) .

Does eToro publicly discloses their financial statements?

✅ Yes, you can view the financial statements of eToro online

Does eToro offer trading software like Meta Trader?

eToro provides their own proprietary platorm .

Does eToro provide a mobile native app?

✅ Yes, you can trade eToro on mobile using Mobile App (Android) and Mobile App (iOS).

Swissquote vs eToro - Comparision & Key Differences

What are the trading options for each broker?

  • Swissquote offers the most forex pairs with 78 available pairs while eToro offers 55 currency pairs.
  • eToro offers the most financial instruments with 3479 tradeable symbols while Swissquote offers 472 financial products.
  • eToro offers the most crypto currency pairs with 92 crypto pairs while Swissquote offers 34 crypto pairs.

Which brokers offer social/copy trading?

Both Swissquote and eToro offer social/copy trading on their platform.

Best Brokers for Social/Copy Trading

Which brokers offer cryptocurrency (CFD) trading?

Only eToro offers cryptocurrency (CFD) trading.

Best Brokers for Cryptocurrency (CFD)

Which brokers allow scalping?

None of these brokers allow scalping: Swissquote and eToro.

Best Brokers for Scalping

Which brokers allow hedging?

Only eToro allows hedging.

Best Brokers for Hedging

Which brokers provide Negative Balance Protection?

Only eToro provides Negative Balance Protection.

Best Brokers with Negative Balance Protection

Which brokers offer a Demo Account?

None of these brokers offer an Demo Account: Swissquote and eToro.

Best Brokers Offering Demo Accounts

Which brokers offer an Islamic Account?

None of these brokers offer an Islamic Account: Swissquote and eToro.

Best Brokers Supporting Islamic Accounts

What does it matter which licenses a broker has?

Licenses allow brokers like Swissquote and eToro to legally provide services in those countries or regions. By having permits from regulators globally, the broker is authorized to conduct business and operate globally.

These licenses and regulations are good for consumers because they hold these companies to high standards.

For example, licenses from:

  • ASIC in Australia,
  • FCA in the United Kingdom,
  • CFTC in the United States,
  • CySEC in Cyprus,
  • FSC in Belize

Require that Swissquote and eToro follow rules around:

  • Keeping customer money safe
    Regulators make sure brokers keep client money separate from their own money. This stops brokers from spending customer money.
  • Providing clear fees and charges
    Regulators check that brokers show all fees to customers upfront. This helps customers understand and compare costs.
  • Resolving complaints fairly
    Regulators check brokers are dealing with customer complaints fairly. Brokers must have policies to fix complaints.
  • Guarding against fraud
    Regulators make rules so brokers check customer identities. This helps stop criminal activity. Regulators can punish cheating brokers.
  • Advertising honestly
    Regulators tell brokers what they can and can't say in ads. This stops brokers making false promises. Regulators can fine brokers who break ad rules.

Which brokers are authorised by ASIC, FCA, CFTC and CFTC?

AU's ASIC, UK's FCA and America's CFTC are considered global “gold standards” in rigorous consumer protection laws and enforcement policies.

  • ASIC (AU) Authorised - Only eToro is licensed by the ASIC (AU).
  • FCA (UK) Authorised - Both Swissquote and eToro are licensed by the FCA (UK).
  • CFTC (US) Authorised - None of these brokers offer licensed by the CFTC (US): .

CySEC in Cyprus follows the strict rules set by the European Union called MiFID. These MiFID rules were created to strongly protect investors.

  • CySEC (CY) Authorised - Only eToro is licensed by the CySEC (CY).

Which brokers are not registered with ASIC, FCA or CFTC?

  • Not registered with CFTC (US) - Both Swissquote and eToro are licensed by the CFTC (US).

    This doesn't necessarily have to be a red flag as some forex brokers make the choice to only have customers who live outside of the United States. They do not accept traders who live inside the U.S. The CFTC is the agency in the U.S. that oversees brokers for U.S. residents. Since these brokers don't have any U.S. customers, the rules and registration enforced by the CFTC does not apply to those brokers. The brokers are still responsible for following the local rules where their international customers live. But they do not have to register specifically with the U.S. agency (CFTC) because they do not serve traders who reside in the United States.

  • Not registered with ASIC (AU) - Only Swissquote is not licensed by the ASIC (AU).

    Again, even though ASIC is known globally as having the strictest and most feared regulation of forex brokers, this doesn't always have to ring alarms. However, some brokers deliberately avoid Australia because ASIC aggressively examines brokers in detail and has very high standards of acceptable conduct. If ASIC finds brokers are badly mistreating customers or ignoring the strict rules, ASIC will punish them severely without waiting by issuing massive fines or shutting them down. Forex brokers know not to take ASIC rules lightly because ASIC is watching them closely and will come down hard on them if customers are harmed by their poor behavior.

  • Not registered with FCA (GB) - None.

Background Information

Difference between shares, equity indices and , individual stocks and etfs

The main differences between forex, shares, equity indices, individual stocks, and ETFs are:

  • Forex (Foreign Exchange) - Forex trading involves exchanging one currency for another in the foreign exchange market. Forex traders attempt to profit from fluctuations in currency exchange rates.
  • Shares - A share represents part ownership of a company. Owning shares entitles the shareholder to a portion of the company's assets and earnings.
  • Equity Indices - An equity index is a statistical measure of the performance of a basket of stocks representing a portion of the equity market. Examples include the S&P 500 and the Dow Jones Industrial Average. These indices track the overall performance of their underlying group of stocks.
  • Individual Stocks - An individual stock represents ownership in a single company. The return on an individual stock depends solely on that company's performance. Individual stocks carry higher risk but also the potential for higher returns compared to broader indices.
  • ETFs (Exchange Traded Funds) - An ETF is a collection of securities bundled together into a fund that trades on an exchange like a stock. ETFs can contain various asset classes but equity ETFs typically track an equity index, such as the entire stock market or a sector. ETFs offer diversification with the trading aspects of a stock.

Shares and individual stocks represent ownership in a single company, indices track groups of stocks, while ETFs are funds containing assets like stocks or indices that trade as a single security. The level of diversification, risk, and return potential differs across these asset classes.

Swissquote Review
eToro Review
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