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eToro is a trading platform that allows you to buy and sell stocks, exchange-traded funds (ETFs), cryptocurrencies, commodities and currencies in Ireland. On the other hand, you can use Trading 212 to trade over 1,800 cryptocurrencies, stocks, commodities and currencies. With the current market volatility and poor returns on cash savings, it’s no surprise that people are turning to both of these platforms in search of higher returns. But how do they compare?
eToro vs Trading 212: Costs
It’s difficult to compare the costs of both of these platforms as they’re both free trading platforms. Trading 212 offers three types of accounts: Invest, ISA and CFD. While the Invest and ISA accounts have no charges, you will incur a 0.5% currency conversion fee with the CFD account. Additionally, there are restrictions on withdrawal and deposit amounts, at 1 EUR for the Invest and ISA accounts, and 10 EUR for the CFD account.
eToro, however, has a couple of other charges. Basic trades are free with eToro, but there is a withdrawal fee of US$5 (plus currency conversion fees) and a monthly inactivity fee of US$10 if an account hasn’t been logged on to for 12 months.
eToro vs Trading 212: Demo account
Both of these platforms have demo accounts available, meaning you can practise trading without using real money. Once you’ve got the hang of it, you can try it out for real!
eToro’s demo account can only be accessed after signing up, while Trading 212 lets you have a go without even giving up an email address. Of course, if you want to keep an eye on your imaginary stocks for days, weeks or months, you’ll have to sign up.
Do note there is no obligation to go ahead and trade real money on both platforms. You can make imaginary trades for life, if you want.
Our verdict: Is eToro better than Trading 212?
As it goes, these are both good options for free trading and they are very similar. These platforms offer a huge range of stocks, commission-free trades and no trading limits. Both platforms are also great for beginners as they allow you to give it a go with fake money, making them pretty good educational resources too.
The only thing that really puts Trading 212 in the top spot is its ISA. It’s completely free, which is a rarity. However, at the end of the day, remember that the best platform for you will depend on your trading preferences, skill level and personal financial situation. Compare your options, rank your choices, and start trading today.
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
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