IC Markets vs eToro

IC Markets is the better choice for active forex and CFD traders who prioritise tight spreads, MetaTrader, cTrader, algorithmic trading and execution costs. eToro is the better choice for most general investors who want stocks, ETFs, crypto and copy trading in one easier-to-use platform.

If you are a scalper, day trader, Expert Advisor user or high-volume forex trader, IC Markets wins.

If you want to build an investment portfolio, buy stocks or ETFs, invest in crypto, or automatically copy other investors, eToro wins.

For someone choosing between the two without a specialist trading requirement, eToro is the better all-round platform. IC Markets becomes the stronger option when active trading performance matters more than investment features.

IC Markets vs eToro at a glance

The biggest mistake is treating IC Markets and eToro as interchangeable brokers. They overlap, but they are built for different jobs.

IC Markets is fundamentally designed around trading markets efficiently.

eToro is increasingly designed around holding, trading and managing multiple types of investments within one ecosystem.

That distinction matters more than most minor feature comparisons.

Which is better, IC Markets or eToro?

IC Markets is particularly strong if your decision is driven by:

• forex spreads
• execution
• scalping
• MetaTrader 4
• MetaTrader 5
• cTrader
• TradingView
• Expert Advisors
• automated strategies
• high trading frequency

IC Markets EU currently offers MT4, MT5, cTrader and TradingView, with Raw Spread pricing starting from 0.0 pips. Its MetaTrader Raw Spread account lists a commission of $3.50 per standard lot per side, or $7 round trip.

eToro is stronger if your priorities are:

• buying stocks
• ETFs
• cryptocurrencies
• CopyTrader
• portfolio investing
• following other investors
• a simpler integrated user experience
• accessing several asset classes without using traditional trading terminals

eToro describes itself as a multi-asset investing platform and offers direct investing alongside CFD trading, although the exact way a position is executed depends on the asset, leverage, direction and the customer's jurisdiction.

So there is no useful answer where one broker simply “wins everything”.

The meaningful verdict is:

IC Markets wins the trading contest. eToro wins the investing-platform contest.

IC Markets vs eToro fees: which is cheaper?

IC Markets trading fees

IC Markets offers two main pricing approaches.

On the IC Markets EU Raw Spread MetaTrader account:

• spreads start from 0.0 pips
• commission is $3.50 per standard lot per side
• the round-turn commission is $7 per standard lot

Its Standard account instead uses wider spreads and no separate trading commission. IC Markets EU currently advertises EUR/USD spreads from 0.8 pips on its Standard account.

This raw-spread plus commission structure is exactly what many scalpers, algorithmic traders and higher-volume forex traders want because transaction costs can be measured directly against trading volume.

IC Markets also says EUR/USD averages around 0.1 pips on its cTrader offering, although spreads remain variable and market conditions affect the price available at execution.

eToro trading fees

eToro uses different pricing models across different asset classes.

Its current published fee schedule states that:

• ETF investments can have zero commission
• stock trades may attract a $1 or $2 commission when opening and closing a position, depending on the customer's country and exchange
• stock and ETF CFDs currently carry a 0.15% charge per trade
• standard crypto pricing for Bronze, Silver and Gold users is currently 1% per crypto position, with lower tiers available for qualifying higher-volume Club members
• CopyTrader itself has no additional copy-trading charge
• withdrawals from eligible local-currency accounts can be free
• withdrawals from a USD investment account can carry a fixed $5 fee
• the current general fee page lists no inactivity fee

These terms are worth checking directly before opening an account because eToro's fee model has changed over time and varies by market.

For EUR/USD CFDs, eToro currently publishes a rate of 0.005% per trade.

Which broker wins on fees?

For high-frequency forex and CFD trading, I would choose IC Markets.

A raw-spread account with a predictable per-lot commission is more naturally aligned with traders whose profitability is sensitive to execution costs over hundreds or thousands of transactions.

For buy-and-hold ETFs or certain unleveraged investments, eToro can be more competitive because the cost structure is completely different.

Comparing one headline “spread” between the brokers therefore misses the point. You need to compare the cost of the exact strategy you intend to run.

Which is better for forex trading?

This is one of the clearest differences between the two brokers.

IC Markets EU offers 61 currency pairs, Raw Spread accounts from 0.0 pips and support for MetaTrader 4, MetaTrader 5 and cTrader.

The platform is particularly well suited to:

• forex day traders
• scalpers
• Expert Advisor users
• systematic traders
• cTrader users
• traders who require market-depth functionality
• traders running multiple strategies or accounts

IC Markets also explicitly positions its Raw Spread infrastructure around active traders, scalpers and automated systems.

eToro offers currency CFDs, but forex execution is only one part of a much broader investment platform.

If your question is specifically “IC Markets or eToro for forex?”, the answer is IC Markets.

Which is better for stocks and ETFs?

This is where the comparison reverses.

IC Markets provides extensive stock market exposure, but its offering is primarily through stock CFDs. IC Markets EU, for example, advertises more than 2,100 stock CFDs from US and European exchanges.

A CFD gives you exposure to the movement of an asset without necessarily owning the underlying security.

eToro supports both investment products and CFDs. Depending on the jurisdiction and position, users can invest in underlying stocks and ETFs rather than being restricted to CFD exposure. Leveraged and short stock positions are generally executed as CFDs, and eToro notes that some non-leveraged positions can also be CFDs because of local product restrictions.

That makes eToro materially more suitable for someone whose actual objective is to build an investment portfolio, rather than actively speculate on short-term stock price movements.

Long-term stock or ETF investor: eToro.

Short-term stock CFD trader who also needs MT5 or an advanced trading stack: IC Markets deserves consideration.

IC Markets vs eToro for copy trading

CopyTrader is integrated directly into eToro's investment ecosystem. Users can select another investor and automatically replicate that investor's positions proportionally within their own portfolio.

eToro currently charges no additional membership, subscription or copy fee for using CopyTrader. Normal costs associated with the assets being traded can still apply.

The copied portfolio can also remain synchronised with the underlying trader as positions and allocations change.

IC Markets does have social trading functionality through IC Social, so it is incorrect to say that IC Markets has no social or copy-oriented features. However, social investing is much more central to eToro's product proposition.

If copy trading is one of your main reasons for opening an account, choose eToro.

Which trading platform is better?

IC Markets supports:

• MetaTrader 4
• MetaTrader 5
• cTrader
• TradingView

Its platform stack also supports Expert Advisors through MetaTrader and algorithmic automation through cTrader.

That flexibility matters if you already use indicators, EAs, cBots, external charting setups or automated execution systems.

eToro takes a different approach. Its main investment, trading, community and CopyTrader functionality sits inside the eToro ecosystem instead of asking the average user to configure a traditional professional trading terminal.

That generally makes eToro easier to approach, but it gives experienced platform-specific traders fewer reasons to switch away from an existing MT4, MT5 or cTrader workflow.

Best platform ecosystem for traders: IC Markets.

Best integrated platform for general investors: eToro.

Which is better for cryptocurrency?

eToro announced in May 2026 that its platform had expanded to more than 200 cryptoassets. The availability of individual cryptoassets and whether the user holds an underlying cryptoasset or a CFD depends on the jurisdiction and transaction type.

eToro Europe also received a MiCA authorisation through CySEC for regulated cryptoasset services across the European Economic Area.

IC Markets is primarily relevant to crypto traders who want cryptocurrency CFD exposure alongside forex and other derivatives. IC Markets EU currently lists cryptocurrency CFDs as part of its CFD product range.

This creates another important distinction.

If you want to trade the price of Bitcoin or Ethereum as part of a leveraged CFD strategy, either platform may be relevant.

If you want crypto to form part of a broader multi-asset investment portfolio, eToro is the more natural choice.

Is IC Markets or eToro safer?

IC Markets operates through different companies depending on jurisdiction.

For example:

• IC Markets (EU) Ltd is regulated by CySEC under licence 362/18
• International Capital Markets Pty Ltd holds Australian Financial Services Licence 335692
• IC Markets Global is the trading name of Raw Trading Ltd, regulated by the Seychelles Financial Services Authority under licence SD018

eToro also operates through several regulated entities, including FCA-regulated eToro UK, CySEC-regulated eToro Europe, ASIC-regulated eToro Australia, an FSRA-regulated Middle East entity and a MAS-licensed Singapore entity.

eToro also became a publicly traded company on Nasdaq in May 2025 under ticker ETOR. Public listing creates an additional layer of corporate financial disclosure, although it should not be confused with a guarantee against investment losses or broker failure.

I would therefore give eToro the edge for corporate transparency, while treating regulatory protection as jurisdiction-specific.

Before depositing with either broker, identify the exact company named in your account agreement and check that entity's regulator, client-money protections and compensation arrangements.

Which is better for beginners?

eToro is better for most beginners.

That does not mean CopyTrader makes investing safe or that copying another investor removes the need to understand risk.

It means the product is easier to map to what most beginners are actually trying to do.

A new investor can use eToro to:

• research assets
• buy investments
• build a portfolio
• use ETFs
• access crypto where permitted
• follow other investors
• experiment with CopyTrader
• practise with a virtual portfolio

eToro currently provides new accounts with a $100,000 virtual portfolio for practice.

IC Markets makes more sense once the user's objective becomes something like:

“I want to trade EUR/USD through MT5 with an EA and minimise my transaction costs.”

That is a very different user from:

“I want one account where I can invest in shares, ETFs and crypto.”

The first user should choose IC Markets.

The second user should choose eToro.

Who should choose IC Markets?

Choose IC Markets if you:

• mainly trade forex or CFDs
• scalp or day trade
• use MetaTrader 4 or MetaTrader 5
• prefer cTrader
• use TradingView as part of your trading stack
• run Expert Advisors or automated strategies
• care heavily about raw spreads and execution costs
• trade frequently enough for small transaction-cost differences to matter

IC Markets is the specialist choice in this comparison.

It is not trying to win by making investing feel like a social network. Its strongest case is execution infrastructure for traders.

Who should choose eToro?

Choose eToro if you:

• primarily invest rather than trade
• want stocks and ETFs
• want a broader cryptocurrency offering
• want CopyTrader
• prefer a simpler integrated platform
• want several asset classes in one portfolio
• do not specifically need MT4, MT5 or cTrader
• value the additional financial transparency of a Nasdaq-listed company

eToro is the broader product.

For the average retail investor who searches “IC Markets vs eToro” without already knowing they need professional forex trading software, that broader proposition makes eToro the better default choice.

Important: your country can change the answer

The exact comparison between IC Markets and eToro changes depending on where you live.

Different legal entities can have different:

• maximum leverage
• available instruments
• crypto services
• CFD restrictions
• commissions
• account currencies
• withdrawal costs
• investor compensation arrangements

For example, IC Markets EU offers retail leverage up to 1:30 and states that its EU service is not intended for residents of several jurisdictions including the United Kingdom and United States.

eToro also changes its offering by country. Its current fee documentation notes, for example, that new users in Spain cannot trade CFDs following restrictions introduced in August 2024.

Always compare the terms for the entity that would actually open your account, not a generic global comparison page.

IC Markets vs eToro: final verdict

The decision is straightforward once you identify what you are actually trying to do.

Choose IC Markets if trading itself is the product. Its Raw Spread accounts, MT4, MT5, cTrader, TradingView support and trader-focused execution model make it the stronger specialist broker.

Choose eToro if building and managing investments is the product. Its stocks, ETFs, large crypto selection, CopyTrader functionality and integrated investment experience make it the stronger all-round platform.

If I had to choose one for a typical person comparing the two with no specialist requirements, I would choose eToro.

If that person told me they were an active forex trader, scalper, EA user or systematic trader, I would immediately switch the recommendation to IC Markets.

That is the real IC Markets vs eToro comparison.

Is IC Markets better than eToro for forex?

Yes. IC Markets is the stronger choice for serious forex traders because it offers Raw Spread accounts plus MT4, MT5 and cTrader, with pricing and infrastructure aimed at active trading.

Is eToro better than IC Markets for investing?

Generally, yes. eToro is better suited to investors who want stocks, ETFs, crypto and portfolio-oriented features rather than primarily trading CFDs.

Does eToro charge for CopyTrader?

eToro currently states that there is no additional charge for using CopyTrader. Normal spreads, asset fees and overnight charges associated with copied positions can still apply.

Does IC Markets support MetaTrader 5?

Yes. IC Markets supports MetaTrader 5 alongside MetaTrader 4, cTrader and TradingView.

Can you buy real stocks with IC Markets?

IC Markets' stock offering is primarily based on stock CFDs. A stock CFD provides exposure to a share's price movement without giving the trader the same ownership position as buying the underlying share. IC Markets EU currently advertises more than 2,100 stock CFDs.

Are IC Markets and eToro regulated?

Yes, both operate regulated entities in multiple jurisdictions. However, the regulator and protections applying to your account depend on the specific company you contract with, so verify the legal entity before depositing funds.

Risk warning: CFDs are complex leveraged products and can produce rapid losses. Broker availability, fees, leverage and investor protections vary by jurisdiction. Check the current terms for your country before opening or funding an account.