image eToro VISIT ETORO image Swissquote VISIT SWISSQUOTE image City Index VISIT CITY INDEX
About

eToro is regulated by CySEC. eToro have provided Forex trading services since 2006.

Swissquote is regulated by FINMA (Swiss Financial Market Supervisory Authority). Swissquote have provided Forex, Commodities, Indices, Stocks, Bonds trading services since 1999.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC, ASIC
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters Limassol, Cyprus Chemin de la Cretaux 33, 1196 Gland, Switzerland London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 47 138 84
Commodities Offered 6 7 26
Stocks Offered 957 0 4500
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones No Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes No Yes
IPO No No No
See all instruments

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See all instruments

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See all instruments

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No Yes No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM No No Yes
Custom Platforms CopyTrader eTrading AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes Yes
Available Languages

English, German, Spanish, French, and Italian

English, German, French, Italian, Spanish, Arabic, Russian, and Chinese

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by eToro and Swissquote

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes No Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account Yes No No
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads Yes Yes Yes
Variable spreads No No Yes
See account options

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping No Yes No
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No No No
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade $25 Varies 1 Lot
Max trade 20% of equity Varies Varies
Min deposit $200 1,000 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller Yes No No
Skrill Yes No No
Payment processing time Varies 1 business day 2-3 business days
Withdrawal processing time Varies 1 business day 2-3 business days
See all funding options

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number 44-866-350-0881 41 22 999 94 11 0845 355 0801
Live Chat Yes Yes Yes
Website www.etoro.com http://en.swissquote.com/ www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 3.0 pips 1.0 pips 0.5 pips
GBP/USD (Average: 1.1 pips) 4.0 pips 1.1 pips 0.5 pips
USD/JPY (Average: 1.1 pips) 2.0 pips 1.3 pips 1.6 pips
AUD/USD (Average: 0.8 pips) 4.0 pips 1.0 pips 0.5 pips
USD/CHF (Average: 2.3 pips) 3.0 pips 1.7 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 3.0 pips 2.2 pips 0.5 pips
NZD/USD (Average: 3.6 pips) 5.0 pips 1.5 pips 2.3 pips
EUR/GBP (Average: 2.4 pips) 4.0 pips 1.3 pips 0.5 pips
View all spreads

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission No No 0.0015
Deposit Fee No No Varies
Withdrawal Fee Yes No Varies
View All Fees

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from www.etoro.com. Last updated on 01/07/2019.

All information collected from http://en.swissquote.com/. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

Founded in 2006 and based out of Tel-Aviv, eToro enables traders to follow various sectors including nearly two hundred and fifty different stocks. CFD and currency trades are likewise a possibility. As of this year, eToro boasts more than six million members worldwide.

For more information about trading with eToro, we have put together an indepth eToro review with all the pros and cons about this broker.

Swiss based Swissquote is an online trading company that provide everything you need to manage your assets online. With Swissquote you are only one click away from trading in the worlds major stock markets in over 1 million products. They give you access to equities, options and futures, funds, derivatives and more.

Swissquote have been listed on the Swiss Market Exchange for over 15 years have global offices including London, Hong Kong and Dubai and employ over 500 staff. They are a member of the Swiss Bankers Assoication and are also regulated by the Swiss Financial Market Supervisory Authority. Opening an account with Swissquote trading platform will grant you access to a premium financial information and analysis to keep in permanent touch with the markets.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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eToro or Swissquote?

A wide range of instruments or access to MT4?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, eToro is likely the better option out of these brokers. However, if you want a broker that offers MetaTrader4 as a trading platform, Swissquote may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider eToro to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

eToro is regulated by Financial Conduct Authority, CySEC, ASIC, while Swissquote is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both eToro and Swissquote will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

eToro has been around for 13 years, while Swissquote have been around for 20 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both eToro and Swissquote use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on eToro or Swissquote in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

eToro is more popular with over 6,000,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both eToro and Swissquote are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

eToro are based in Limassol, Cyprus, while Swissquote are based in Chemin de la Cretaux 33, 1196 Gland, Switzerland .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both eToro and Swissquote offer forex trading. Swissquote have a slightly larger variety of currency pairs with 138 pairs, compared to 47 offered by eToro. Also, if you’re looking to trade cryptocurrencies, eToro offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both eToro and Swissquote allow you to trade commodities like gold, silver and crude oil.

eToro and Swissquote both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

eToro also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. eToro, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

While Swissquote also allows scalping and hedging. You can't trade with EAs (expert advisors) on eToro but you can trade EAs (expert advisors) with Swissquote.

In terms of risk management tools, neither eToro or Swissquote offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

eToro also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

eToro accept Paypal while Swissquote accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, eToro charges 3.00 points, while Swissquote charges 0.80 points. Therefore, Swissquote is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: eToro or Swissquote?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, eToro is more reliable based on our criteria above. Swissquote has a wider range of instruments to trade. Swissquote offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.