My independent comparison will provide you with a direct insight into why eToro is a better trading platform than interactive investor, especially for frequent traders and beginners seeking a low-cost investment broker.
I’ve run my comparison across 56 different parameters with the intention of helping you identify which of these platforms is best suited to your unique requirements.
Is eToro better than interactive investor?
Yes, I found eToro to be better than interactive investor following my extensive research into two of the best trading platforms. This is largely due to the low-cost proposition offered by eToro.
I have gone into this in more detail below. In addition, eToro boasts one of the largest trading communities in the UK with an excellent copy trading and social trading environment.
That being said, the gap between the two platforms was very small and for investors looking to protect their investment gains from the taxman, interactive investor offer several account options whereas eToro do not offer a tax wrapper of any sort.
eToro has outperformed Freetrade in the following areas:
- Commission-free trading and zero platform fees
- Well structured, easy to use platform
- Robust social and copy trading features
|Read Review||Read Review|
Deposit and withdrawal:
Markets and products:
Deposit and withdrawal:
Markets and products:
Which platform is cheaper for trading?
|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|
Free with standard ISA
|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|
£9.99 per month
|Telephone Dealing FeeFee for trading over the telephone|
|Withdrawal FeeFee for withdrawing funds from your account|
eToro are hard to beat when it comes to trading fees but of course, it is always worth weighing up whether the reduced costs will represent excellent value for your investment requirements.
However, I would recommend you take the time to understand the ‘Plans’ available at interactive investor which can include one free trade per month and reduced trading costs thereafter.
Which platform has the best tools?
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|
Both these trading platforms offer a mobile app and web trading platform, however, when it comes to security and usability, eToro pull ahead.
eToro have an excellent mobile trading platform that includes a two-step login, touch and face ID, and excellent search functions. In addition, their web trading interface is user-friendly with two-step log-ins.
Conversely, interactive investor’s platform is missing two-step log-ins and their mobile trading platform does not provide any price alerts. The web trading platform at interactive investor is really user-friendly, however, there is no customisation available.
Who offers the most investment products?
|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|
eToro is the clear winner for the sheer range of markets and products including forex trading, cryptocurrency trading, CFDs, copy trading, and fractional shares.
However, it is prudent to point out that some of the additional investment opportunities available at eToro are considered to be higher risk, and therefore, investors who are more comfortable with safer investments, may be completely satisfied with the range of investments available at interactive investor.
However, with their wide choice of investment accounts, interactive investor are easily outperforming eToro. This is especially true for investors who are looking to protect their gains from the taxman, as eToro have yet to introduce a tax wrapper of any description, whereas interactive investor currently offer the interactive investor ISA and the interactive investor Junior ISA in addition to the interactive investor trading account.
As well as this, investors looking to save for their retirement in a pension trading account would definitely be best served at interactive investor who offer a SIPP.
The interactive investor company account is a fairly unique offering in this space, allowing trading in the name of a UK Limited Company, providing the opportunity to manage your tax liabilities more efficiently.
Which platform has the best research?
There are pros and cons to both these platforms when it comes to research. interactive investor has some really good tools at your disposal, including trading and investment ideas, model portfolios, and fundamental data. However, there is a lack of advanced analytic and charting tools available.
Conversely, eToro has some great interactive charts, trading ideas and analyst recommendations, however, there is a distinct lack of fundamental data and the news feed is more of an informal social feed.
Who has the best customer service?
|PhoneMain phone number for customer services|
0345 607 6001
|Live chatHas live chat available|
|EmailMain email address for customer services|
|24/7 AvailabilityAvailable 24/7 for customer services|
No - 24/5
|TrustPilot RatingThe TrustPilot rating of the platform|
4.4 - 20,229 reviews
|TwitterThe Twitter account for the platform|
Winner: interactive investor
With an excellent level of customer service, across multiple channels, available 24 hours, 5 days a week, interactive investor are hard to beat when it comes to customer service.
When I put their customer service to the test, my call was answered within a few minutes, emails within an hour, and live chat was almost instant.
Which platform has the best education for investors?
Winner: interactive investor
Although both these trading platforms offer a decent level of education across multiple channels, interactive investor have pulled slightly ahead in terms of the quality of content. Their demo account, trading platform tutorial, and educational videos are all informative and easy to follow.
In addition, there is a continuous flow of articles on various investment topics from interactive investor which are in an easy to digest format.
What is the downside to eToro?
eToro charge both withdrawal fees and inactivity fees which are a consideration for investors looking to keep costs low.
However, for many investors, the big drawback would be the lack of investment wrapper at eToro as they only offer a general investment account.
FAQs about eToro vs Interactive Investor
Is interactive investor 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.