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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.
Two competitors in the investing world are IG and eToro. Both platforms cover off most of the things that investment has to offer, so how do they compare?
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Rating | ★★★★★ | ★★★★★ |
Stocks and shares ISA | ||
Pension (SIPP) | ||
Lifetime ISA (LISA) | ||
Junior products | ||
Fractional shares | ||
Ethical investing | ||
Keep in mind | 75% of retail CFD accounts lose money | 67% of retail CFD accounts lose money |
Go to site More Info | Go to site More Info |
When it comes to markets and products, these providers both offer quite different things. eToro offers fractional shares and DIY portfolios, while IG offers ISAs and pensions. IG has much more to offer here, but if you plan to purchase any fractional shares then you’d be more suited to eToro.
IG’s fees are pretty simple. For one of its ready-made portfolios, the “Smart Portfolio”, it charges 0.72% on investments up to £50,000 made up of a 0.50% IG management fee, an average of 0.15% in fund costs and 0.07% for transaction costs. For investments over £50,000 it charges 0.22%, made up of an average of 0.15% in fund costs and 0.07% in transaction costs. You pay no IG management fee over £50,000.
eToro doesn’t have any ready-made portfolios, so the cost of your portfolio will depend on what you choose to invest in.
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Rating | ★★★★★ | ★★★★★ |
Desktop/web app | ||
iPhone app | ||
Android app | ||
Share price notifications | ||
Keep in mind | 75% of retail CFD accounts lose money | 67% of retail CFD accounts lose money |
Go to site More Info | Go to site More Info |
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Rating | ★★★★★ | ★★★★★ |
Guides and information on products available | ||
Videos and walkthroughs | ||
Demo account | ||
Advice | ||
Keep in mind | 75% of retail CFD accounts lose money | 67% 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.
The main difference between the CFD offerings for 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.
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.
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.
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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