What Is The Best Etoro Alternative In the UK and Europe?

eToro is one of the most popular trading platforms in the UK and Europe. It operates in 100 countries, with over 20 million client users, and is highly preferred by new users with little to no previous experience in trading. Its CopyTrader™ feature allows users to copy other investors’ trading. It is also regulated by authorities such as CySEC and ASIC.

However, even eToro is replaceable and there are many other European brokers with a similar or even better offer. This article reviews the best eToro alternative in the UK and Europe. We will consider the following factors: UX, product portfolio, copy trading capability, fees, technical analysis capability and tight spreads.

Best Etoro Alternative Brokers In the UK and Europe

AvaTrade

Spread (from): 0. 9 Pips

Regulations: FFAJ, CBI, FRSA, BVIFSC, ASIC, FSA

Minimum Deposit: $100

Founded in 2006, Ava Trade is a registered forex trading platform with 300,000 registered traders. It gives retail traders access to CFDs in stock, commodities, indices, cryptocurrencies, and forex trading through platforms such as MetaTrader 4 and MT5. AvaTrade is the likely best alternative for eToro in the UK and Europe for the widest variety of trading platforms and social trading features. Here is a breakdown of Ava Trades’ pros and cons

Pros

  • Access to MT4 & MT5
  • Copy trading capabilities through ZuluTrade, Duplitrade, and AvaSocial
  • Offers training and education to users along with a demo account
  • No withdrawal and deposit charges
  • Highly responsive customer live chat support through multiple languages
  • Regulated by numerous authorities in Europe and globally

Cons

  • High inactivity fees

71% of retail CFD accounts lose money

FP Markets

Spreads (from): 0.0 pips (commission fees apply)

Regulations: ASIC, CySEC, Financial Services Authority of St. Vincent, and the Grenadines.

Minimum Deposit: $100

FP Markets is one year older than Ava Trade, established in 2005. Australian-based FP Markets have won multiple awards, including #1 Value Global Forex Broker thus building a robust reputation. Although AvaTrade allows trading on MetaTrader 4 & 5, FP Markets is likely the best alternative for eToro in Europe for MetaTrader 4. Here is a breakdown of FP Markets’ pros and cons.

Pros

  • Easy to open an account with a four-step process
  • Tight spreads, mainly because of the ECN pricing model
  • Access to a 10,000+ asset portfolio using advanced online trading software, Iress
  • Capacity for copy trading
  • 24/7 live support
  • A more expansive product portfolio that includes bonds, metal, commodities, and digital currencies compared to AvaTrade.
  • FP Markets has no inactivity fee

Cons

  • High charges when making international bank withdrawals
  • High minimum Deposit for some account types, such as accounts on Iress

75.3% of retail CFD accounts lose money

XTB

Spreads (from): 0.2 pips

Regulations: CySEC, FCA, KNF, IFSC

Minimum Deposit: $0

XTB is one of the oldest online trading platforms, first incorporated in 2002 in Polish. It operates in many regions, including the UK and Europe. XTB is widely regulated and serves a client base of nearly 500,000. In addition, it has a solid reputation because it is listed in the stock exchange market and uses transparent practices. As a result, XTB is one of the best broker alternatives for eToro in Europe and the UK for the broadest selection of CFDs. Here is a breakdown of XTB’s pros and cons.

Pros

  • Regulated in European countries such as the UK, Poland, and Spain
  • Zero minimum deposit for individual accounts
  • Highly friendly user experience with user alerts and interactive charts
  • Well-designed educational materials, including videos, demos, and webinars
  • Extensive CFD portfolio including ETFs, shares, commodities, indices, and foreign exchange
  • All clients have access to free insurance

Cons

  • A fee is charged for inactive accounts for 10 euros per month (the fee starts applying after a certain time period of inactivity)
  • No social trading features

74–89% of retail investor accounts lose money.

Forex.com 

Spread (from): 0.1 pips

Regulations: FCA, FSA, CFTC, NFA, IIROC, ASIC

Minimum Deposit: $50

Forex .com is one of the oldest trading platforms, established in 2001 by its parent company StoneX Inc. It also stands out as one of the few online trading companies that operate in the U.S. Forex.com is one of the most regulated forex companies by regulatory bodies in major regions of the world. As a result, Forex.com is another solid alternative to eToro as an all-around, trustworthy, and highly regulated digital trading platform. Here is a breakdown of Forex.com’s pros and cons.

Pros

  • Strategic education for new beginners, including a free demo account
  • Access to more than 80 currency pairs, including exotic and minor currencies
  • Access to a specialist forex trading app
  • Strong regulatory framework, including by US authorities
  • Great research tools
  • Zero withdrawal fees

Cons

  • A limited product portfolio of forex and CFDs
  • No social trading features

74–89% of retail investor accounts lose money.

XM.com

Spread (from): 0.0 pips

Regulations: CySEC, ASIC

Minimum Deposit: $0

XM.com is a popular broker offering forex and CFD trading (on stocks, indices and commodities). The company was founded in 2009, and since then they have attracted over 5 million clients. XM.com features two world’s most popular trading platforms – MT4 and MT5. Below is a breakdown of XM’s pros and cons.

Pros

  • Access to MT4 and MT5
  • 1 000+ trading instruments
  • 24/7 multilingual support
  • Diverse technical research tools, including multi-chart layout, historical quotes, and technical analysis
  • No minimum deposit

Cons

  • No cryptocurrency trading
  • No social trading features

74–89% of retail investor accounts lose money.

Summary Comparison Table

Broker AvaTrade FP Markets XTB Forex.com XM.com
Founded 2005 2002 2001 2001 2009
Pips starting from 0.9 0.2 0.0 0.1 0.0
Minimum Deposit ($) 100 100 0 50 0
Copy Trading Yes Yes No No No

In summary, there are multiple alternatives for eToro in Europe. Each option provides unique value, a broker is regulated by different authorities, offers various trading assets or features different trading platforms. Therefore, choosing the best eToro alternative is in your hands, depending on what factors are most important for you. The list provided in the article will hopefully help you get an idea of different brokers that are very popular in this region and are favoured by millions of traders.



Michael
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