In this article, we will talk about 3 eToro Alternatives for Traders. eToro is one of the best platforms for trading out there. It is well known for its copy trading feature and its mobile trading platform available on both android and IOS. Their mobile app is downloaded by over 10 million users worldwide.
With eToro you get a range of financial instruments that you can trade, these include Forex, Stocks, Equity, Indices, Cryptocurrencies, and CFD. The eToro platform is used to open more than 300 million trades worldwide. Even though eToro is a great platform for traders, there are other alternatives to eToro.
Our 3 favorite alternatives to eToro are Avatrade, XM, and Blackbull market. Below we will discuss these 3 platforms in detail.
AvaTrade is one of the top brokers out there with a range of features for traders. AvaTrade is a highly regulated trading platform that is regulated by 7 different regulations (This makes it a highly regulated broker). This broker is regulated by,
- Isreal Securities Authority
- Cysec – Cyprus Securities and Exchange Commission
- FRSA – Financial Regulatory Services Authority
- ADGM – Abu Dabhi Global Markets
- Financial Futures Association Japan
- FSB – South African Financial Services Board
- B.V.I Financial Services Commissions
- Central Bank of Ireland
- ASIC – Australian Securities and Investment Commission
With a lot of regulations, you can trust your money with AvaTrade. AvaTrade was started in 2006 and it is well known for its great customer service and integrity. Also, it provides constant innovation. There are 8 asset classes that you can trade with AvaTrade they are;
- Forex – Major currency pairs, cross currency pairs, and some exotic currency pairs.
- Crypto – Offers a range of cryptocurrencies, these include Bitcoin, Dash Uniswap, etc.
- CFDs – Can trade CFDs for any financial asset.
- Stocks – There is a range of stocks that you can trade, these include stocks from Amazon, Addidas and etc.
- Energies – Energies such as Crude Oil, Natural Gas, Brent Oil, Heating Oil, and Gasoline.
- Precious Metals – all the popular precious metals like Gold, Silver, Platinum, Palladium, and Copper.
- EFTs – Option to trade Index Funds.
- Bonds – Provides you with Japanese and European Government Funds.
There are 3 main trading platforms provided by AvaTrade broker. These are MetaTrader 4, MetaTrader 5 and AvaTrade Go. MT4/MT5 is well know trading platforms that are used by most brokers out there. The MetaTrader platform provides you with all the trading tools and indicators that you need to become a successful trader.
Also, these platforms support automated trading as well. AvaTrade Go is a mobile application for trades provided by AvaTrade. It is absolutely a great trading platform.
The leverage provided by AvaTrade is up to 1:400 which is pretty high leverage but lower than that of XM Broker and BlackBull markets which will discuss later. We personally don’t recommend you trade with this much high leverage.
AvaTrade does provide some courses on trading. These include courses on Technical Analysis, introduction to the financial markets, courses on fundamental analysis, and much more.
When it comes to withdrawing and depositing money in AvaTrade broker, there is a range of options for you to choose from. These are Visa, Skrill, bank wire transfer, and Netteller. AvaTrade also provides you with decent spreads as well.
You can read our full review of AvaTrade here. If you are interested in signing up with AvaTrade click the button down below.
XM Broker is another great broker for traders. XM is also a highly regulated broker as well. This broker is regulated by 3 regulations. These are the Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySec), and Internation Financial Services Commission (IFSC).
XM was founded in 2009 and has around 5 million traders using its platform. They provide trading platforms based on the MetaTrader 4 and MetaTrader 5 platforms similar to that of AvaTrade broker. They also provide a mobile app that is downloaded by millions of users.
XM Broker provides you with 6 asset classes that you can trade. These are;
- Forex – Offer more than 55 currencies that you can trade.
- Stocks – Access to over 1000 different stocks.
- Commodities – there is a range of commodities that you can trade.
- Equity -Equity includes the S&P 500, ASX200, Nikkei 225, and much more.
- Indices -Has a range of indices that you can trade.
- Precious Metals – This includes metals such as Gold and Silver.
- Energies – The energies provided by XM are mainly Oil and Gas.
XM Broker provides leverage up to 1:500 which is very high leverage. They also provide a beginner’s guide to get started with trading but if you want a complete guide on how to trade forex you should check out our guide.
XM Broker does provide you with a range of options for withdrawing and depositing money from and into your trading account. These options are credit card, debit card, Skrill, Neteller, bank wire transfer, and Union Pay
You can read our full review of XM Broker here. If you want to sign up with the XM Broker click the button below.
BlackBull Markets is one of eToro Alternatives. BlackBull Markets is from Newzealand. This broker serves traders in over 180 different countries worldwide. They provide a range of trading platforms. This includes MetaTrader 4, MetaTrader 5, WebTrader, and Trading View.
They provide traders with a leverage of up to 1:500 which is similar to the leverage Xm broker provides traders with. The spreads for forex trading with BlackBull Markets start from 0.0 pips. This is due to the variable spreads they provide.
BlackBull Markets provides you with 5 different asset classes that you can trade, These are;
- Share CFD’s
- Precious Metals
Conclusion – eToro Alternatives
eToro is a great platform for traders. eToro is trusted by millions of traders worldwide. That doesn’t mean that there aren’t good alternatives to eToro. AvaTrade, XM, and Blackbull markets are great alternatives to the eToro trading platform.
All of these including eToro are great platforms for traders. If you are new to trading and looking for the best way to learn to trade you should check out our complete guide on forex trading, it is completely free.