Choosing the right broker is a critical decision for any trader. Exness and eToro are two globally recognized brokers offering unique features and services tailored to different trading styles. This article provides an in-depth comparison of Exness and eToro, covering key aspects like trading platforms, tradable assets, fees, security, and customer support, helping you decide which broker best suits your needs.
Overview
Exness
Founded in 2008, Exness has become a popular choice for traders worldwide, particularly for forex and CFD trading. It boasts advanced platforms, competitive spreads, and lightning-fast execution speeds. Regulated by top-tier authorities like the FCA (UK) and CySEC (Cyprus), Exness is a trusted broker for both beginner and professional traders.
eToro
Launched in 2007, eToro is renowned for its innovative approach to trading, particularly with its social trading platform. This unique feature allows users to copy trades from successful investors. Regulated by the FCA, CySEC, and ASIC, eToro is popular among traders looking for a user-friendly interface and diverse asset offerings, including stocks, ETFs, and cryptocurrencies.
Trading Platforms
Exness
Exness provides access to industry-standard platforms:
- MetaTrader 4 (MT4) and MetaTrader 5 (MT5): Both platforms are equipped with advanced charting tools, technical indicators, and automated trading capabilities.
- Exness Terminal: A proprietary web-based platform designed for seamless trading with minimal learning curves.
- Mobile Trading App: Exness offers a mobile app with features such as one-tap trading, charting tools, and account management.
eToro
eToro’s proprietary platform is highly intuitive and accessible:
- Web-Based Platform: Designed for simplicity, the platform is ideal for beginners. It features a clean interface, real-time market updates, and customizable watchlists.
- Social Trading: A standout feature that enables traders to copy strategies from top-performing investors.
- Mobile App: eToro’s mobile app mirrors its desktop platform, allowing seamless account access and trade execution on the go.
Verdict:
Exness appeals to traders who prioritize advanced tools and customizability, while eToro is perfect for beginners and those interested in social trading.
Tradable Assets
Exness
Exness offers a wide range of assets for trading, including:
- Forex: Over 100 currency pairs, including major, minor, and exotic pairs.
- Commodities: Gold, silver, oil, and more.
- Indices: Access to global indices like the NASDAQ, S&P 500, and FTSE 100.
- Cryptocurrencies: Popular coins like Bitcoin, Ethereum, and Litecoin.
eToro
eToro stands out for its asset diversity, including:
- Stocks: Access to thousands of stocks from global markets, including fractional shares.
- ETFs: Invest in a wide range of exchange-traded funds.
- Forex: Fewer pairs than Exness but includes popular options.
- Commodities: Gold, silver, oil, and other key commodities.
- Cryptocurrencies: A robust offering with over 30 crypto assets for direct purchase or CFDs.
Verdict:
eToro provides more diversity with its stock and ETF offerings, making it an excellent choice for investors. Exness excels in forex trading with its broader range of currency pairs.
Fees and Costs
Exness
- Spreads: Exness offers tight spreads, starting as low as 0.0 pips on certain accounts.
- Commissions: Applicable on raw spread accounts, with fees as low as $3.5 per lot per side.
- Swap Fees: Overnight fees apply for positions held beyond a day.
- Non-Trading Fees: No deposit or withdrawal fees, but inactivity fees may apply.
eToro
- Spreads: eToro incorporates spreads into its trading costs, which are higher than those of Exness.
- Commissions: No commissions for stock or ETF trading, but CFD trades incur higher fees.
- Other Costs: A $5 withdrawal fee and a $10 monthly inactivity fee after 12 months of no activity.
Verdict:
Exness has a cost advantage with tighter spreads and lower commissions, especially for forex traders. eToro’s fee structure suits stock and ETF investors due to its commission-free offering.
Security and Regulation
Exness
- Regulation: Regulated by reputable authorities, including the FCA (UK) and CySEC (Cyprus).
- Client Fund Safety: Offers segregated accounts and negative balance protection.
- Data Security: Uses encryption and advanced technologies to safeguard client information.
eToro
- Regulation: Regulated by the FCA (UK), CySEC (Cyprus), and ASIC (Australia).
- Client Protection: Funds are kept in tier-1 banks, and negative balance protection is available for retail traders.
- Insurance: eToro provides insurance coverage for clients under certain jurisdictions.
Verdict:
Both brokers are highly secure and regulated, making them trustworthy options for traders.
Education and Resources
Exness
- Offers educational content, including tutorials, webinars, and articles for traders.
- Provides research tools like market analysis, economic calendars, and trading calculators.
eToro
- Extensive educational resources, including eToro Academy, which covers everything from trading basics to advanced strategies.
- Social trading enables learning through interaction with experienced traders.
Verdict:
eToro’s social trading and educational resources give it an edge, especially for beginners.
Customer Support
Exness
- Availability: 24/7 multilingual support.
- Channels: Live chat, email, and phone support.
- Additional Support: Comprehensive FAQ section and help center.
eToro
- Availability: 24/5 customer support.
- Channels: Support is available via tickets and live chat for club members.
- Community: An active forum for users to engage and resolve queries.
Verdict:
Exness has an advantage with 24/7 availability, while eToro’s active community support is a plus for collaborative problem-solving.
Pros and Cons
Exness Pros
- Tight spreads and low fees.
- Wide range of forex pairs.
- Advanced trading tools and platforms.
- 24/7 customer support.
Exness Cons
- Limited stock and ETF offerings.
- Not as beginner-friendly.
eToro Pros
- Innovative social trading platform.
- Diverse asset offerings, including stocks and ETFs.
- User-friendly interface ideal for beginners.
- Commission-free stock trading.
eToro Cons
- Higher spreads compared to Exness.
- Withdrawal and inactivity fees.
Conclusion: Which Broker Should You Choose?
The choice between Exness and eToro ultimately depends on your trading needs and preferences:
- Choose Exness if you’re a forex or CFD trader seeking tight spreads, low costs, and advanced tools. It’s a great choice for professionals and those focused on forex trading.
- Choose eToro if you value social trading, stock and ETF investing, or a beginner-friendly platform with an engaging community.
Both brokers are excellent in their respective domains, offering unique features tailored to specific types of traders.