eToro is one of the world’s top social trading and investment networks, allowing users to trade stocks, commodities, cryptocurrencies, and more. With a user-friendly interface and Trading Academy, new and veteran traders alike might enjoy the platform.

On the downside, you might find some of eToro’s nontrading fees constrictive, such as their $5 charge for withdrawals. And with standard customers only receiving email and ticket customer support, new traders still might find themselves in the dark. Here are ten alternatives and competitors to eToro you might consider.

Top 10 Best Alternatives & Competitors

  1. Robinhood – Most Popular Alternative
  2. FTX – Most Economical Alternative
  3. Coinbase – Most Established Alternative
  4. Gemini – Most Beginner-Friendly Alternative
  5. Binance – Most Crypto-Focused Alternative
  6. Plus500 – Most Techincal Alternative
  7. IG – Most CFD-Focused Alternative
  8. Pepperstone – Most FX-Focused Alternative
  9. Firstrade – Most ETF-Focused Alternative
  10. TD Ameritrade – Most Educational Alternative

1. Robinhood – Most Popular Alternative

PRICING: $0 account minimum

Robinhood is an incredibly easy-to-use brokerage that’s grabbed much attention these days, negative and positive. On the one hand, Robinhood is excellent for new investors, requiring no account minimum nor trading fees. Robinhood also allows you to trade stocks, ETFs, and cryptocurrency for free.

On the downside, Robinhood doesn’t offer many educational resources for new investors nor is the platform’s customer support highly regarded. Furthermore, Robinhood has been at the center of several controversies recently, fined over $130 million by the SEC for purportedly misleading customers.

KEY FEATURES:

  • Stock trading
  • ETFs
  • Cryptocurrency
  • IPO access

REASONS TO BUY:

  • Easy to use
  • No trading fees
  • No account minimum

REASONS TO AVOID:

  • Limited customization
  • Lack of transparency
  • Limited customer support
  • Lack of resources
  • Does not offer IRAs

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2. FTX – Most Economical Alternative

PRICING: $0 account minimum

One of the premier platforms for the exchange of cryptocurrency, FTX is an easy-to-use platform with low fees, maker fees only as high as 0.020%, and taker fees only as high as 0.070%. On top of this, there is no account minimum, a minimum of $1 trades on crypto, and over 300 cryptocurrencies available for trade, a reasonable number.

On the downside, FTX’s customer service is ticket-based with no live chat available. While FTX has a user-friendly interface, if you’re new to cryptocurrency, you’ll probably find FTX confusing.

KEY FEATURES:

  • Cryptocurrency trading
  • Margin and futures trading

REASONS TO BUY:

  • Minimum $1 trade for cryptocurrency
  • No account minimum
  • No transaction fee on mobile app
  • 300 cryptocurrencies available for trade
  • User-friendly
  • Two-factor authentication

REASONS TO AVOID:

  • Poor, ticket-based customer service

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3. Coinbase – Most Established Alternative

PRICING: $2 account minimum

Coinbase is a good trading platform for those new to cryptocurrency. Through “Coinbase Earn,” you receive crypto for taking short courses explaining how cryptocurrencies work. You also only need a $2 account minimum, and Coinbase offers 24/7 live support. Coinbase is great for beginners in cryptocurrency trading, but this additional support comes at a cost.

Coinbase’s fees are on the higher side, transactions less than or equal to $10 charged $0.99, for instance. But also, additional fees apply based on the specific cryptocurrency being traded, the volatility of the market, and so on.

KEY FEATURES:

  • Cryptocurrency
  • Coinbase Earn
  • Coinbase Pro

REASONS TO BUY:

  • $2 account minimum
  • Over 150 cryptocurrencies
  • 24/7 customer support
  • Resources for beginners

REASONS TO AVOID:

  • 0.50% spread fee for transactions
  • Confusing fee structure

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4. Gemini – Most Beginner-Friendly Alternative

PRICING: $0 account minimum

Similar to Coinbase, Gemini is targeted at beginners to cryptocurrency, though intermediate traders may also enjoy this app. The interface is clean and simple, and there is no account minimum. You may also withdraw crypto for free up to ten times each month, though after that, you’ll have to pay high fees.

You may also use Gemini Pay, which will allow you to purchase using crypto, though you may only purchase up to $250, and you may have to pay capital gains taxes if your cryptocurrency’s value has gone up. Another feature is Gemini Earn, which allows you to earn interest in crypto investments.

On the downside, Gemini has a complicated fee structure similar to CoinBase’s. Depending on your transaction, you may incur transfer fees, trading fees, convenience fees, etc. Gemini also only has customer support through email.

KEY FEATURES:

  • Cryptocurrency trade
  • Gemini Pay app
  • Gemini Earn

REASONS TO BUY:

  • No account minimum
  • Simple interface
  • 10 free crypto withdrawals per month

REASONS TO AVOID:

  • Only email customer support
  • No margin trading
  • Confusing fee structure

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5. Binance – Most Crypto-Focused Alternative

PRICING: $10 account minimum

Binance offers a huge amount of crypto for trade and on top of that, low fees for exchanges. Binance.US, for instance, charges a 0.10% spot trading fee.

Binance is a robust, multi-faceted platform that might be frightening for beginners to crypto trading. People familiar with cryptocurrency will find the app highly useful, however.

However, Americans will need to Binance.US, as the regular app is not permitted in the United States. Even then, Binance.US accounts are only available in select states.

KEY FEATURES:

  • Cryptocurrency trading
  • Trust Wallet
  • Two-factor authentication

REASONS TO BUY:

  • 600 cryptocurrencies available for trade
  • Low fees

REASONS TO AVOID:

  • Not for beginners
  • Americans require Binance.US
  • Binance.US only supports 100 cryptocurrencies

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6. Plus500 – Most Techincal Alternative

PRICING: $100 account minimum

Plus500 is a fairly technical trading platform with an extensive array of charts and graphs for monitoring and analyzing stocks.

One interesting feature is the traders’ sentiment tool, which displays the percentage of traders buying vs selling a given stock.

On the downside, Plus500 does not serve Americans due to US regulations. Reviews of customer service have also been mixed; Plus500 offers 24/7 customer service, but it can only be done through messaging or emailing.

KEY FEATURES:

  • Stocks
  • ETFs
  • Charting
  • Select cryptocurrencies
  • Traders’ sentiment tool

REASONS TO BUY:

  • Very easy to use
  • No withdrawal fee
  • 24/7 live chat
  • Educational resources

REASONS TO AVOID:

  • Does not accept US clients
  • No phone support

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7. IG – Most CFD-Focused Alternative

PRICING: $250 account minimum

IG is primarily aimed at CFD trading, though CFDs are not supported for US clients. US clients may only trade FX. Fees associated with CFD are mostly average. Further, IG does not charge for depositing or withdrawing.

One of IG’s biggest strengths is its educational tools. The site offers tutorial videos, webinars, and more. Investopedia considers them to be top of the notch as far as online brokers are concerned.

On the downside, US users do not receive account protection, so if a client’s balance is negative, they will owe the broker.

KEY FEATURES:

  • $250 account minimum
  • 80 currency pairs
  • CFDs
  • Smart portfolios

REASONS TO BUY:

  • Very extensive educational resources
  • No withdrawal fees

REASONS TO AVOID:

  • US clients do not receive account protection

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8. Pepperstone – Most FX-Focused Alternative

PRICING: $0 account minimum

Pepperstone is primarily an FX trading platform but also supports CFDs. Pepperstone does not accept US clients. Pepperstone is regulated by the British FCA, German BaFin, and Australian ASIC, so it’s considered a safe brokerage. Pepperstone’s fees are generally low and it does not require a minimum deposit, though the interface is outdated and cluttered.

Pepperstone only offers negative balance protection for UK citizens. Pepperstone offers customer support, but it’s lacking. Clients are assigned an account manager, so support is contingent on your manager’s availability.

KEY FEATURES:

  • CFDs
  • FX

REASONS TO BUY:

  • Negative balance protection for UK clients
  • No minimum deposit

REASONS TO AVOID:

  • Does not accept US clients
  • No 24/7 customer support
  • Outdated interface

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9. Firstrade – Most ETF-Focused Alternative

PRICING: $0 account minimum

Firstrade allows clients to trade stock and ETFs commission-free. Uniquely, Firstrade offers support for investors who speak Mandarin and Cantonese.

On the downside, Firstrade has comparatively few investment options, lacking cryptocurrency and forex, for instance. However, users can still trade crypto-based products like Grayscale Bitcoin Trust.

Firstrade is sufficient for new investors with its variety of investment options and educational resources, but advanced traders will find the platform to be lacking.

KEY FEATURES:

  • Stocks
  • ETFs

REASONS TO BUY:

  • No account minimum
  • Mandarin and Cantonese support
  • Decent educational resources

REASONS TO AVOID:

  • No cryptocurrency nor FX
  • Research tools are lacking
  • No fractional share investing

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10. TD Ameritrade – Most Educational Alternative

PRICING: $0 account minimum

Also known as its desktop app Thinkorswim, TD Ameritrade is a versatile stockbroker complete with educational resources for beginners and a highly customizable interface and countless trading options for intermediate traders. To name a few, TD Ameritrade offers stocks, mutual funds, select cryptocurrencies, bonds, FX, ETFs, futures, and more.

Unfortunately, TD Ameritrade does not offer fractional sales. The platform also might be overwhelming for new traders with how many tools are offered.

KEY FEATURES:

  • Stock
  • ETF
  • Futures
  • FX

REASONS TO BUY:

  • No account minimum
  • Educational resources
  • Highly customizable

REASONS TO AVOID:

  • No fractional sales
  • Interface can be overwhelming

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References and Links

  • https://www.forbes.com/advisor/investing/robinhood-review/
  • https://www.investopedia.com/robinhood-review-4587919
  • https://www.nerdwallet.com/reviews/investing/brokers/ftx
  • https://www.fool.com/the-ascent/cryptocurrency/ftx-review/
  • https://www.nerdwallet.com/reviews/investing/brokers/coinbase
  • https://www.forbes.com/advisor/investing/cryptocurrency/coinbase-review/
  • https://www.forbes.com/advisor/investing/cryptocurrency/gemini-review/
  • https://www.nerdwallet.com/reviews/investing/brokers/gemini
  • https://www.fool.com/the-ascent/cryptocurrency/binance-review/
  • https://www.forbes.com/advisor/investing/cryptocurrency/binance-us-review/
  • https://www.investopedia.com/binance-vs-coinbase-5120852
  • https://www.investopedia.com/plus500-review-4587917
  • https://brokerchooser.com/broker-reviews/plus500-review
  • https://www.investopedia.com/ig-review-4587903
  • https://brokerchooser.com/broker-reviews/ig-review#review-part-education
  • https://brokerchooser.com/broker-reviews/pepperstone-review
  • https://www.investopedia.com/pepperstone-review-4587915
  • https://www.forbes.com/advisor/investing/firstrade-review/
  • https://www.nerdwallet.com/reviews/investing/brokers/firstrade
  • https://www.investopedia.com/td-ameritrade-review-4587925
  • https://www.nerdwallet.com/reviews/investing/brokers/td-ameritrade