eToro Alternatives

Trading 212 is the best eToro alternative for most investors who mainly want to buy stocks and ETFs at low cost. Interactive Brokers is the stronger choice for experienced investors who want more markets, currencies and investment products. If copy trading is the reason you use eToro, NAGA is the closest alternative in this list, although its fee structure is less straightforward.

The best choice depends on what you actually want to replace. eToro combines stock and ETF investing, CFDs, cryptocurrency exposure, social features and CopyTrader in one platform. Few competitors replicate all of that.

The best eToro alternatives at a glance

There is no single platform that is better than eToro at everything. Trading 212 is the strongest general replacement for low-cost investing, while Interactive Brokers is the better upgrade for investors who have outgrown eToro.

Broker availability, investor protection, tax wrappers and fees vary by country. Always check the terms offered by the specific regulated entity serving your location.

1. Trading 212: best eToro alternative for most investors

Trading 212's Invest account currently charges no trading commission or custody fee. Its main platform charge for ordinary investing is a 0.15% foreign-exchange fee when a currency conversion is required. The Invest account can also hold multiple supported currencies, including GBP, USD, EUR, PLN and CHF, which can reduce unnecessary conversions.

That makes Trading 212 particularly attractive if you like eToro's accessible interface but do not need its social trading network.

Why choose Trading 212 instead of eToro?

Trading 212 is a better fit if you want:

• commission-free stock and ETF trading
• a low 0.15% FX conversion fee
• multi-currency investing
• fractional investing
• a simple mobile-first experience
• automated portfolio features such as Pies

The biggest sacrifice is social trading. Trading 212 does not offer a direct equivalent to eToro's CopyTrader ecosystem.

Trading 212 vs eToro

eToro is still more distinctive as a social-investing platform. Trading 212 is stronger when the job is simply buying and holding investments without unnecessary transaction friction.

Current eToro pricing also varies more by account type and country. eToro states that a $1 or $2 stock commission can apply when opening and closing stock positions depending on residence and exchange, although ETFs, copy trading and Smart Portfolios are exempt from that stock commission.

Verdict: Choose Trading 212 if you use eToro mainly as a stock and ETF investment app and have little interest in copy trading.

2. Interactive Brokers: best eToro alternative for advanced investors

Interactive Brokers provides access to more than 170 markets across 40 countries and supports trading and funding across multiple currencies. Available asset classes include stocks, ETFs, options, futures, currencies, bonds and funds.

That is a different proposition from eToro. eToro prioritises accessibility and social investing. Interactive Brokers prioritises market access, execution and trading infrastructure.

Why choose Interactive Brokers instead of eToro?

Interactive Brokers makes more sense if you need:

• options and futures
• global bonds
• extensive international stock-market access
• multi-currency portfolios
• professional trading tools
• advanced order types and analytics
• a platform capable of supporting more complex strategies

Interactive Brokers' Trader Workstation is specifically aimed at active and experienced investors, while simpler IBKR interfaces are available for less sophisticated users.

The obvious downside is complexity. Someone who likes eToro because it makes investing feel simple may find Interactive Brokers excessive.

Pricing also varies by market and pricing plan. Interactive Brokers should not simply be described as "commission-free". For example, European and UK stock commissions can involve percentage-based pricing and minimum order charges.

Verdict: Choose Interactive Brokers if eToro now feels limiting rather than expensive. It is the strongest upgrade for investors who want more markets, instruments and control.

3. XTB: best alternative for European investors who also trade

XTB currently charges no commission on stocks and ETFs until monthly turnover exceeds €100,000. Above that threshold, a 0.2% commission applies, subject to a minimum charge. XTB also charges a 0.5% currency conversion margin when a transaction requires conversion into another currency.

Its product mix makes XTB particularly relevant to people who have been using both eToro's investing and trading functionality.

Why choose XTB instead of eToro?

XTB is worth considering if you want:

• real stocks and ETFs
• commission-free investing within the monthly threshold
• investment plans
• access to CFDs from the same provider
• a more trading-focused interface than basic investment apps

The important cost is FX.

A 0.5% currency conversion charge equals €50 on a €10,000 conversion. For comparison, a 0.15% conversion costs €15.

This is why comparing brokers purely on whether stock commission is £0 or €0 can be misleading. Currency conversion can cost substantially more than the dealing commission.

XTB is therefore particularly attractive when you can invest predominantly in assets denominated in your account currency.

Verdict: Choose XTB if you are a European investor who wants a combination of investing and active trading rather than a pure buy-and-hold app.

4. Lightyear: best simple low-cost eToro alternative

For European accounts, Lightyear currently charges no execution fee for ETFs, 0.1% for US stocks with a $1 maximum, £1 for UK stocks and €1 for many euro-denominated investments. Currency conversion is 0.35%.

Pricing differs in the UK. Lightyear currently advertises commission-free US, UK and EU stocks and ETFs for UK personal accounts, alongside a 0.1% currency-conversion fee.

This regional difference is exactly why broker comparisons need to specify location rather than pretending one global price table applies to everybody.

Why choose Lightyear instead of eToro?

Lightyear works well if you want:

• simple stock and ETF investing
• transparent pricing
• no account fee
• multi-currency functionality
• fewer trading distractions
• a cleaner long-term investing proposition

What it does not attempt to replicate is eToro's social network, copy trading or broad trading environment.

Verdict: Choose Lightyear if simplicity and transparent investing costs matter more to you than trading features.

5. NAGA: best eToro alternative for copy trading

NAGA offers an Autocopy system that allows users to replicate trades from other traders. Its platform lists more than 4,000 instruments across multiple categories.

That makes NAGA conceptually closer to eToro than Trading 212, Interactive Brokers, XTB or Lightyear.

There is a catch: copying trades does not eliminate trading costs.

NAGA's current documentation states that ordinary instrument costs such as spreads, swaps and commissions still apply to copied positions. Copy-trading charges can also depend on the user's account or VIP status and the profitability of the copied trade.

NAGA vs eToro for copy trading

If CopyTrader is the main reason you use eToro, switching to a conventional broker may solve the wrong problem.

You should instead compare:

• number and quality of traders available to copy
• historical drawdowns
• how trader performance is calculated
• copy execution
• minimum capital requirements
• spreads and commissions
• additional copy or performance fees
• risk controls
• availability in your country

Do not choose a copy-trading platform because the highest-ranked trader has an impressive return percentage. Returns without drawdown, duration and risk context tell you very little.

Verdict: Consider NAGA if social and copy trading are non-negotiable. For ordinary stock and ETF investing, Trading 212 or Interactive Brokers are generally cleaner alternatives.

Why are investors looking for eToro alternatives?

The strongest reason to switch from eToro is not simply "eToro has high fees". That claim is too broad.

eToro's current fee structure depends heavily on the product, account currency and country.

For example:

• withdrawals from a USD investment account currently carry a $5 fee
• withdrawals from eligible local-currency accounts are free
• local currency accounts can include GBP, EUR, AUD and DKK depending on eligibility
• stock trades can carry a $1 or $2 commission depending on country and exchange
• ETFs are exempt from eToro's stock commission
• currency conversion charges vary by currency, account and payment method
• eToro currently lists its inactivity fee as free

That last point matters because older comparisons still criticise eToro for an inactivity fee. That criticism is outdated according to eToro's current published fee schedule.

The better question is therefore:

Which part of eToro are you trying to improve?

If the answer is stock-investing costs, Trading 212 becomes attractive.

If it is global market access, Interactive Brokers is stronger.

If it is European investing plus active trading, XTB fits better.

If it is a simpler investment platform, Lightyear makes sense.

If it is copy trading, NAGA is the more relevant comparison.

How much do FX fees actually matter?

Foreign-exchange charges are one of the easiest broker costs to underestimate.

Consider a €10,000 conversion:

FX fee	Cost of converting €10,000
0.15%	€15
0.35%	€35
0.50%	€50
0.75%	€75
1.00%	€100

This becomes more important if you repeatedly buy and sell investments denominated in another currency.

Trading 212 currently charges 0.15% when it performs an FX conversion. XTB's published conversion margin is 0.5%. Lightyear's European pricing lists 0.35%, while its UK pricing currently lists 0.1%.

However, multi-currency accounts can sometimes avoid repeated conversions. Compare the entire money flow rather than one headline percentage:

deposit currency → account currency → investment currency → sale currency → withdrawal currency

That calculation can change which broker is genuinely cheapest.

Which eToro alternative should you choose?

For most users, the decision can be reduced to one question: what are you trying to do better than eToro?

Choose Trading 212 if you primarily buy stocks and ETFs and want a simple, low-cost platform.

Choose Interactive Brokers if you want the broadest market access, more investment products or advanced trading capabilities.

Choose XTB if you are in Europe and want both investing and active trading functionality.

Choose Lightyear if you want a simple investment account with transparent fees and do not care about social trading.

Choose NAGA if copy trading is the feature you are actually trying to replace.

And if your priority is eToro's combination of CopyTrader, social investing and a simple multi-asset interface, switching may not improve anything. eToro remains unusually differentiated in that specific use case.

Is Trading 212 better than eToro?

Trading 212 currently combines commission-free investing with a 0.15% FX fee and a multi-currency Invest account. eToro offers a broader social layer and CopyTrader functionality that Trading 212 does not replicate.

Is Interactive Brokers better than eToro?

Interactive Brokers currently provides access to more than 170 markets and multiple asset classes from one platform.

What is the closest alternative to eToro CopyTrader?

However, copy-trading costs and risk mechanics differ between providers. Compare the actual spread, commission, copy fee, drawdown and execution model before switching.

The bottom line

The important thing is not finding an app that looks like eToro. It is identifying the feature or cost that made you search for an alternative in the first place, then choosing the broker that solves that specific problem without introducing a more expensive one elsewhere.