Picture not described

IG vs eToro

Find out how these platforms compared when we looked at products, costs and learning resources

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 66%-78.6% 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.

eToro and IG are both trading platforms that let you buy and sell stocks, exchange traded funds (ETFs), cryptocurrencies, commodities and currencies. They both also allow you to trade contracts for difference (CFDs).

Investing has recently become pretty popular. As a result, there are loads of “robo-advisors” and investment platforms appearing out of nowhere which allow everyone and their dogs to dip their toes in investing, no matter how much experience or knowledge of the subject they have.

IG and eToro are two major investment providers in the UK, but how do they compare?

IG vs eToro: Vital statistics

IG Share DealingeToro
Finder rating★★★★★★★★★★
Customer satisfaction rating★★★★★★★★★★
Stocks and shares ISA available?
FSCS protected?
Costs rating★★★★★★★★★★
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

On the face of it, these are similar providers – they’re both protected by the Financial Services Compensation Scheme (FSCS), which means that you are protected by up to £85,000 if either provider were to go bust.

eToro doesn’t let you invest in an individual savings account (ISA), but IG does – which means you can invest up to £20,000 in the 2021/2022 tax year without paying any capital gains tax on your profits.

In our customer satisfaction survey in December 2020, we surveyed both eToro and IG customers. eToro’s customers found that it had great fees, is easy to use, and has excellent customer service. Some customers didn’t like the additional fees.

IG’s customers said that it has great customer service and is easy to use. Some felt that it wasn’t the cheapest provider available.

Round 1: Products

IG Share DealingeToro
Stocks and shares ISA available?
Lifetime ISA (LISA)
Contracts for difference
Pension
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

IG lets you invest in a stocks and shares ISA, which means that you can make use of your annual ISA allowance. It also lets you invest in a private pension, if you want to save up for your retirement. You can invest up to £40,000 per year and get some great tax benefits. However, you can’t cash out until you turn 55.

eToro doesn’t have either of these products, and neither IG nor eToro lets you invest in a lifetime ISA.

  • Winner: IG

Round 2: Financial instruments

IG Share DealingeToro
Rating★★★★★★★★★★
Forex
Shares
Options
ETFs
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

Both eToro and IG let you invest in and trade foreign exchange (forex), shares, options and exchange traded funds (ETFs).

  • Winner: Tie

Round 3: Stock exchanges

IG Share DealingeToro
Exchanges covered score★★★★★
UK - London Stock Exchange
US - NASDAQ
US - New York Stock Exchange
Canada - Toronto Stock Exchange
Japan - Japan Exchange Group
Euronext
Germany - Deutsche Börse
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

Both of these platforms let you invest in most of the largest stock exchanges in the world. You can invest in UK, US and most European shares with both providers. The slight difference is that IG also lets you invest in Canadian shares.

  • Winner: IG

Round 4: Fees

LogoIG Share DealingeToro
Costs rating★★★★★★★★★★
Minimum deposit£250£50
Standard platform charge0%0%
Best platform charge0%0%
Standard trading fee£8£0.00
Best trading fee£3£0.00
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

eToro is a free trading platform, but IG does have pretty competitive fees. You can trade for as low as £3 per trade if you make 20 or more trades each month.

Basic trades are free with eToro, but there is a withdrawal fee of $5 USD and an inactivity fee of $10 USD. The minimum deposits are pretty similar – you need to deposit at least £250 with IG and $200 with eToro (about £145).

  • Winner: eToro

Round 5: Features

IG Share DealingeToro
Features rating★★★★★★★★★★
Desktop or web access
iPhone app
Android app
In-app news and research
In-app top-up
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

eToro and IG both have desktop or web access as well as both iPhone and Android apps, so you can access your investments anywhere you like. With both apps you can access in-app news and research and top up in the app.

The main difference between these providers is eToro’s social trading feature. eToro allows you to copy the actions of other traders. This lets you potentially profit from the experience of others, which allows you to learn about trading yourself. The platform shows you the average risk scores of the users and their gain over the last 12 months.

  • Winner: eToro

Round 6: Learning resources

IG Share DealingeToro
Resources rating★★★★★★★★★★
Guides
Videos and walkthroughs
Demo account
In-depth learning tools
Keep in mind68% of retail CFD accounts lose money68% of retail CFD accounts lose money
Go to site
More Info
Go to site
More Info

IG and eToro have a lot to offer in terms of learning resources. Both platforms have information on what they offer. IG has an entire course on investing and trading that you can take to find out more, including quizzes and videos.

Meanwhile, eToro has a blog, a podcast and video tutorials. At the moment, it has one selection of videos about trading, but it has videos specifically targeted at beginners and pros coming soon.

Both eToro and IG have demo accounts available. This means that you can give trading a go without putting down real money. So, whether you’re deciding between platforms, or just want to give investing a go, this is a nice way.

On both platforms, there is no obligation to go ahead and trade real money. You can make imaginary trades for life, if you want.

  • Winner: IG

Overall winner: Is IG better than eToro?

These platforms have very different things on offer. IG has been around since 1974 and has a really solid platform in all areas. eToro is a little newer to the game, but it’s made great headway and is trusted by about 200,000 active users.

Which platform you choose to use will depend on what you are looking for. If you need an ISA or a pension, you’re better off with IG. IG also has ready-made portfolios available, if you prefer a bit of hand holding. If you’re looking for low-cost trading, then eToro is your best bet, as it’s commission-free.

There are options for both beginners and experienced investors for both platforms, as well. The demo accounts and educational resources allow those newer to investing to find out how it works.

  • Winner: IG
Promoted
IG Share Dealing

Buy and sell US shares with no commission with IG

Capital at risk, investments may fall

  • Invest in over 10,000 shares, funds and investment trusts
  • Low costs - Zero commission on US shares, £3 on UK shares
  • Support available 24 hours a day from Sunday to Friday
  • Open an account in a few minutes through website or app

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.

More guides on Finder

  • Natural gas ETFs

    Natural gas has been hugely successful in recent years. Find out more about natural gas ETFs and whether they’re worth investing in.

  • Ethical ETFs

    Ethical ETFs has been hugely successful in recent years. Find out more about ethical ETFs and whether they’re worth investing in.

  • How to buy shares in Manchester United

    Looking to buy Manchester United shares? Our guide shows the Manchester United share price and explains how to buy shares in the club (capital at risk).

  • How to trade Pink Sheet stocks

    Find out about Pink Sheet Stocks are, including some examples of Pink Sheet Stocks, the risks involved and how to invest in some.

  • Alternatives to IG

    Find out some alternatives to IG and what they’re good for. We’ve listed some similar trading platforms to consider.

  • UK alternatives to Robinhood

    Looking for a uk alternative to Robinhood? We’ve found some similar platforms to Robinhood that let you trade US stocks from the UK.

  • Alternatives to eToro | Apps and competitors to eToro

    Looking for some alternatives to eToro? We’ve found some trading platforms that are similar to eToro for you to consider.

  • Alternatives to Trading 212

    Find out some alternatives to Trading 212 and what they’re good for. We’ve listed some similar trading platforms to consider.

  • IG vs Plus500 CFD comparison

    Both IG and Plus500 are leading brokers for CFDs. They both have some handy tools to give you the information you need to trade contracts for difference.

  • Invest in the Euronext stock exchange

    Find out about the Euronext stock exchange, how it works, some companies listed on it and how to invest in Euronext ETFs and shares

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site