Is eToro better than Freetrade?
Yes, eToro is better than Freetrade in my opinion. During my extensive testing and comparison, I found that whilst these are two unique trading platforms, eToro has pulled slightly ahead of the race, largely due to its extensive investment opportunities as well as it’s thriving social and copy trading capabilities.
eToro has outperformed Freetrade in the following areas:
- The vast number of tradable assets available
- Thriving social and copy trading platform
- Leading crypto trading platform with low spreads
- Good research, tools and a free demo account
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Deposit and withdrawal:
Markets and products:
Deposit and withdrawal:
Markets and products:
Which platform is cheaper?
|Minimum DepositThe minimum amount required to open an account|
|Minimum TradeThe minimum amount to trade or buy shares|
|ETFs FeeFee per ETF trade|
|Investment Trusts FeeFee per investment trust trade|
|Junior S&S ISA FeeSubscription fee per month and the platform fee|
|Non Trading FeeFee for not trading in a period|
$10 pcm after 1 year inactivity
|Stocks & Shares ISA FeeSubscription fee per month and the platform fee|
|Telephone Dealing FeeFee for trading over the telephone|
|Withdrawal FeeFee for withdrawing funds from your account|
Freetrade is cheaper than eToro: Here’s why
Freetrade is one of the lowest-cost trading platforms available with zero commission trading, zero minimum deposit, and zero non-trading fees with the exception of £3 per month for the ISA and £9.99 for the SIPP, both accounts that are not offered at eToro.
Whilst eToro can’t compete with these numbers, they are still a very low-cost proposition and also offer zero commission trading on stocks. However, eToro make money with non-trading fees and the spread between the offer and bid price on any asset.
Freetrade or eToro: Which platform offers most?
Platforms & tools
|Android AppAn Android app available in the Google Play store|
|Copy TradingOffers the ability to copy other traders portfolios|
|Demo AccountOffers a demo account|
|iPhone AppAn app available for download from the iOS app store|
|Islamic AccountDoes the platform offer a sharia compliant Islamic account|
|MetaTrader 4Offers the MetaTrader 4 trading platform solution|
|MetaTrader 5Offers the MetaTrader 5 trading platform solution|
|Social TradingOffers the ability to share your trades on social media|
|Stock AlertsAbility to set price alerts, volume alerts|
|Web PlatformOffers a web-based browser trading platform|
Although eToro originally launched their trading platform on a desktop version, they took the decision to discontinue this option and focus on web trading and mobile applications. Freetrade launched with an app-only interface, however, they have since launched the beta version of Freetrade web for desktop.
However, Freetrade has yet to offer a demo account which is a major drawback for anyone wanting to practise their investing skills before risking any of their own funds.
In addition, novice investors can take advantage of the copy trading offered at eToro, providing scope for users to follow profitable traders and open and close trades automatically as they do.
Which platform has the best financial instruments?
|Auto InvestingAbility to set auto-investing options, usually per month|
|CFD TradingOffers CFD trading|
|Corporate BondsOffers corporate bonds|
|CryptoAbility to buy and sell cryptocurrency|
|Ethical InvestmentsOffers ethical investment themed funds and ETFs|
|ETFsAbility to trade ETFs|
|ForexAble to trade Forex|
|Fractional SharesAble to buy fractional shares|
|FundsAble to buy funds|
|Government Bonds (Gilts)Able to buy government bonds and Gilts|
|Investment TrustsAble to buy investment trusts|
|Junior S&S ISAAble to buy a junior stocks and shares ISA|
|General Investment Account (GIA)Able to buy and sell shares|
|Spread BettingAble speculate on rising and falling of financial markets|
|Stocks & Shares ISAAble to buy a stocks and shares ISA|
For a greater variety of financial instruments, eToro is the clear winner. This provides scope for creating a diversified portfolio, which in turn can mitigate your exposure to risk and should therefore not be undervalued.
eToro also leads the way in crypto trading with some of the lowest spreads available, their own wallet service, and a huge variety of crypto assets available to trade.
However, people looking to invest in a tax wrapper would definitely be best served using Freetrade as eToro have yet to offer an ISA or SIPP account.
Which platform has the best research?
The charting tool at eToro provides around 70 technical indicators although data is only available for the last six months. In addition, there is a daily market analysis newsletter and recommendations on popular stocks including average price target, hedge fund sentiment and insider trading sentiment.
Who has the best customer service?
|PhoneMain phone number for customer services|
|Live chatHas live chat available|
Chat in app
|EmailMain email address for customer services|
|24/7 AvailabilityAvailable 24/7 for customer services|
|TrustPilot RatingThe TrustPilot rating of the platform|
4.4 - 20,229 reviews
|TwitterThe Twitter account for the platform|
In terms of customer service, both these propositions provide a good response on Live Chat, however, for customers that prefer phone or email, there is no service of this kind.
Who has the best education available?
Whilst eToro don’t have the best educational resources available, they have managed to outstrip Freetrade in this area with a decent variety of educational resources including written guides, videos, webinars and podcasts.
Is there a better platform than eToro?
No, for retail investors looking for social trading and copy trading capabilities, eToro would be the number one platform in the UK. For more information read my full eToro review here.
FAQs about eToro vs Freetrade
Is Freetrade any good?
Is eToro trustworthy?
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.