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

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

eToro
8.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT ETORO
Zulutrade
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT ZULUTRADE
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

eToro is regulated by CySEC. eToro have provided Forex trading services since 2006. 66% of retail CFD accounts lose money

Zulutrade is regulated by MiFID and have provided copy trading services since 2007.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC, ASIC
  • Yes Over 11 years in business
  • Yes
  • Yes
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Limassol, Cyprus United States, 48 Wall str, 10th Floor Suite 1100, New York NY 10005 Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No No No
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 47 48
Commodities Offered 6 21
Stocks Offered 957 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks Yes No Yes
Penny stocks No No Yes
Energies Yes No 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 Yes Yes
IPO No Yes Yes
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

Losses can exceed deposits

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No No Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader No No Yes
Mirror Trader No No Yes
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms CopyTrader No Xstation5

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, French, Spanish, German, Polish, Dutch, Italian, Russian, Romanian, Turkish, Japanease, Arabic, and Korean

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

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

77% 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 Zulutrade

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

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping No Yes Yes
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No No Yes
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade $25 Varies 0.01 Lot
Max trade 20% of equity Varies 100 Lot
Min deposit $200 Varies $1

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No 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 Yes Yes
Neteller Yes No Yes
Skrill Yes No Yes
Payment processing time Varies Varies Same day if requested before 1PM
Withdrawal processing time Varies 2 business days Same day if requested before 1PM
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

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries AU, CA,KR, CU, IR, MM, SD, SY AU, CA,KR, CU, IR, MM, SD, SY US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number 44-866-350-0881 1-917-6282237 44 2036953085
Live Chat Yes Yes Yes
Website www.etoro.com www.zulutrade.co.uk www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 3.0 pips Not offered 0.1 pips
GBP/USD (Average: 1.1 pips) 4.0 pips Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) 2.0 pips Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) 1.0 pips Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) 3.0 pips Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) 3.0 pips Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) 5.0 pips Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) 4.0 pips Not offered 0.1 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

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes Yes No
Commission No Varies Yes
Deposit Fee No Varies No
Withdrawal Fee Yes Varies No
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

77% 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 01/09/2019.

All information collected from www.zulutrade.co.uk. Last updated on 01/09/2019.

All information collected from www.xtb.com. Last updated on 01/09/2019.

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.

ZuluTrade was founded in 2007 to fill the gap in services offered for individual traders, who want to keep in total control of their funds despite busy schedules which prevented them from following the changing markets every minute of the day.

ZuluTrade provides a web-based platform that audits traders globally and allows traders to share their experiences and strategies with interested individuals. The platform converts the advice and strategies from successful traders into a service which can rapidly execute trades by providing the link between the information in the markets and trade execution.

The underlying principle of ZuluTrade is to facilitate an open environment where traders can connect to any trading platform and share their insights and earn a commision when others use their advice to a live trade.

ZuluTrade is well suited for individual traders who want to trade but do not have the time to study or monitor the market by allowing you to easily find the best signal providers who are doing the this for you and easily convert their advice into live trades.

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

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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eToro or Zulutrade?

A wide range of instruments or low spreads?

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 with lower spreads on currency pairs like EUR/USD, Zulutrade may be more appropriate.

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 and Zulutrade to be equally reliable. We’ve broken down why below:

Who are they regulated by?

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

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

XTB 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 Zulutrade have been around for 12 years. Our third alternative broker, XTB, have been around for 17 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.

eToro uses tier one banks as their banking partner.Zulutrade does not use tier one banks as their banking partner.

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.

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 Zulutrade 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 Zulutrade are based in United States, 48 Wall str, 10th Floor Suite 1100, New York NY 10005 .

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

If you’re looking to trade commodities like gold, silver or oil, eToro may be a better fit as Zulutrade does not offer commodity trading.

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

In terms of risk management tools, neither eToro or Zulutrade 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 Zulutrade accept Paypal.

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 Zulutrade charges points. Therefore, Zulutrade 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 Zulutrade?

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

Objectively, Zulutrade is more reliable based on our criteria above. eToro has a wider range of instruments to trade. eToro 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.