Wondering which of these two investment platforms would be the best for your needs? I’ve compared all the elements of eToro vs InvestEngine, including cost, tools, investment options, and usability to reach my conclusion that eToro provides a better investment experience for most UK investors with both managed and DIY portfolio options on their multi-asset platform.
Is eToro better than InvestEngine?
Yes, I found eToro to be better than InvestEngine, especially for less experienced investors seeking to engage in copy trading and those seeking direct share dealing. There is also a lot to offer experienced investors looking to manage their own portfolio.
However, the competition was fierce and there is a lot to commend InvestEngine for including meagre costs, access to Vanguard funds, and excellent account options. It is also worth noting that only InvestEngine offer access to a stocks and shares ISA in addition to the general investment account and this is at no additional cost.
eToro has outperformed InvestEngine in the following areas:
- Negative balance protection
- Multi-currency trading account
- Demo account
- Low minimum deposit
- Excellent selection of payment methods
- Direct share dealing
- Robust social and copy trading features
|Read Review||Read Review|
Deposit and withdrawal:
Markets and products:
Deposit & Withdrawal:
Markets and Products:
eToro vs InvestEngine fees
|Minimum DepositThe minimum amount required to open an account|
£100 up front, £1 top ups
|Minimum TradeThe minimum amount to trade or buy shares|
|ETFs FeeFee per ETF trade|
0.25% managed portfolios
|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|
If it’s a low-cost trading platform that you are looking for, then both these propositions are worthy of consideration. You will struggle to find better fees elsewhere, although it is worth taking into account that eToro have a $10 inactivity fee that kicks in after one year and a $5 withdrawal fee.
However, there are no dealing fees, platform fees, or account fees at either of these platforms.
The minimum investment for both platforms is $1, however, InvestEngine do require a minimum deposit of £100 compared to eToro’s minimum deposit of just $10.
eToro vs InvestEngine platforms and 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|
It stands to reason that eToro would provide more tools as they offer individual share dealing whereas InvestEngine offer investment funds or a fully managed investment portfolio.
In addition, the copy trading facility at eToro is second to none in the UK, with a thriving community of investors providing insights into the market. For many investors, eToro’s provision of negative balance protection will also be a deciding factor.
eToro vs InvestEngine investments available
|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|
There is little doubt that the range of investments at eToro is more extensive than that of InvestEngine. CFDs, forex, stocks and cryptocurrencies are all instruments available at eToro whereas InvestEngine focus their efforts solely on exchange-traded funds (ETFs).
Certainly, this would be more appealing for people looking to choose their own investments, however, investors seeking a fully managed portfolio including an income portfolio and growth portfolio will only find this available at InvestEngine.
eToro vs InvestEngine research
Whilst InvestEngine do provide access to a decent level of information on the ETFs they provide including past performance, companies, indexes and key investor information, eToro outrank with their technical analysis and recommendations on stocks (albeit a little limited).
eToro also have their social trading network, where investors will exchange research materials and opinions on stocks.
eToro vs InvestEngine customer service
|PhoneMain phone number for customer services|
|Live chatHas live chat available|
|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|
Both these platforms offer customer service during office hours via a number of channels including live chat, email, and phone.
However, when reviewing the customer service at InvestEngine I was nothing short of impressed with the instant, informative and professional service I experienced. This was one of the best customer service offerings I have come across to date.
eToro vs InvestEngine education
It is safe to say that neither of these options are outstanding when it comes to education. However, whilst InvestEngine have a rather sparse help centre where you can find answers to some questions about ISAs and the use of their investment platform, eToro have provided a more comprehensive offering that includes news and analysis, and the eToro academy which includes guides, podcasts, webinars and videos.
This easily outshines the level of education on offer at InvestEngine.
What is the downside to eToro?
The non-trading fees at eToro are a consideration including the withdrawal fee and the inactivity fee. However, as an investor, you will know how much these will affect you.
The major downside for eToro is the lack of ISA or self-invested personal pension to protect your gains from Capital Gains Tax. This is a massive draw for InvestEngine who are one of the only platforms to offer an ISA completely free of charge.
FAQs about eToro vs InvestEngine
Is InvestEngine 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.