DEGIRO vs eToro: compare fees, tools, safety, and more

Both DEGIRO and eToro have managed to position themselves among the best brokers on the market. Their growth has been extraordinary as they carved their own niches in an overpopulated industry. However, some users may wonder what the differences are between the two. For this reason, we embark on a quest to find the answer to the following ardent question: DEGIRO vs eToro, which is the best broker in the UK?

DEGIRO vs eToro: what are they and how do they work?

How does DEGIRO work?

DEGIRO started its journey in 2008, in the Netherlands. It aims to serve both beginner and professional clients, providing a plethora of attractive features that have gained tremendous popularity in the last few years.

Initially, DEGIRO only catered to professional clients. Over time, it changed to a more integrative vision that seeks to democratise financial investments and make them accessible to any type of investor. Therefore, in 2013, it decided to open its doors to retail investors. Since then, it began a rapid expansion throughout the European continent to become one of the most appreciated brokers on the continent.

A few years later, in 2020, it entered into an agreement with Flatex (a German online broker) to join forces and pursue further growth. The merger with Flatex materialized at the beginning of 2021, resulting in one of the largest online execution brokers in Europe with its own banking license. More specifically, Flatex acquired 100% of DEGIRO, deciding to keep the brand.

The operation was followed by public listing on the stock exchange under the name of flatexDEGIRO Group, becoming one of the 160 largest companies listed on the German stock market.

How does eToro work?

In Israel, in 2007, three visionary entrepreneurs had a dream: to make financial investments accessible to everyone. This was the cornerstone of one of the leading online financial intermediaries being created and is now considered the world’s largest social trading network.

After creating the trading platform to provide online intermediation service using Webtrader technology, the team launched a unique proprietary social trading platform in 2010.

The disruptive power of copying master traders (known as copy trading) revolutionized online trading. Thanks to this technology, called “OpenBook”, it did not take long to gain recognition and attract customers from all around the world.

In 2015, after designing its mobile application, it merged its Webtrader platform with the aforementioned OpenBook.

Through improvements and expansion of its asset offering, eToro has become an online broker used by millions of traders from more than 140 countries.

With the arrival of cryptocurrencies, the broker has positioned itself as an alternative to crypto exchanges for those who wish to trade with this type of asset.

Main characteristics of DEGIRO vs eToro

Characteristics	DEGIRO	eToro
Regulation	Federal Financial Supervisory Authority of Germany (BaFin)	Cyprus Securities and Exchange Commission (CySEC)
Access to markets (countries)	+30	+140
Financial assets	Stocks ETFs Bonds Investment Funds Options Futures Warrants	Stocks ETFs CFDs Indices Commodities Currencies Cryptocurrencies CFD
Minimum Deposit	£0.1	$50
Account Types	4 (Basic, Active, Trader, Day Trader)	1 (Standard)
Commissions (UK stocks)	£1.75 + handling £1	£0
Commissions (US stocks)	€1 + €1 handling	£0
Commissions (currency exchange)	Auto FX 0.25% Without Auto FX 10€ + 0.25%.	Variable
Platform	DEGIRO	eToro WebTrader
Demo Account	No	Yes
Customer Service	Phone Email	Email Chatbot

Which broker is more secure and reliable, DEGIRO or eToro?

Let’s now look at both brokers in terms of security and reliability, if they are regulated and to what extent they guarantee your funds’ safety.

DEGIRO regulation

After the merger with Flatex, DEGIRO has become a Dutch branch of flatexDEGIRO Bank AG, based in Germany and regulated by BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht; German financial supervisor).

Before the merger, this broker was mainly regulated by the Dutch Central Bank. This entity still watches over the aforementioned branch located in Amsterdam.

In addition, DEGIRO is also authorised and regulated by the Financial Conduct Authority (FCA) in the UK.

Is DEGIRO reliable?

While DEGIRO’s regulatory status is satisfactory, ensuring a considerable level of protection for its investors, it is also important to note that the company is further complying with more regulations as its part of a publicly listed company, flatexDEGIRO Group.

In the unlikely case of bankruptcy, investors’ assets are protected in two ways. First of all, funds are kept in segregated accounts and, secondly, up to €20,000 is protected by the Dutch Investor Protection Scheme.

Regulation of eToro

As for eToro, this is actually a company with multiple subsidiaries, which is common to online brokers that market their services worldwide. It is necessary to obtain the corresponding license granted by the regulatory body of the country or region in which the financial intermediation activity is intended to be exercised, see below:

• eToro (Europe) Ltd (including Spain): CySEC in Cyprus
• eToro (United Kingdom) Ltd: FCA in the United Kingdom
• eToro AUS Capital Limited: ASIC in Australia

Is eToro reliable?

As eToro is also licensed by multiple regulators, it is considered a safe broker from this perspective. Regarding the unlikely case of bankruptcy, clients’ funds will be returned safely as they are kept in segregated accounts.

eToro vs DEGIRO: products and markets

Next, we move on to analyse the product lines and markets of these two highly competitive brokers. What scope does each of the brokers have in terms of investment assets and markets? Read on to find out.

Products and markets available via DEGIRO

DEGIRO is a broker that allows trading with a wide range of financial instruments:

• Stocks: Access to more than 50 stock exchanges in 30 countries
• ETFs: More than 5,000 ETFs
• Financial futures: Exposure to 14 futures markets
• Bonds: More than 650 debt products, both government and corporate.
• Options: Up to 12 options markets
• Warrants
• Investment funds: Includes 64 funds, with access to managers such as BlackRock or Vanguard.

As shown above, DEGIRO is not a CFD broker. In addition, it does not offer access to the forex market. If this is what you’re looking for, make sure to check out the best CFD brokers and best forex brokers in the UK instead.

However, it is possible to invest in a large number of geographical markets:

Markets in Which Degiro Operates
Europe	America	Asia
Germany​​​	United States	Japan
France	Canada	Hong Kong
United Kingdom		Australia
Spain		Singapore
Switzerland		Turkey
Italy
Portugal
Ireland
Belgium
Greece
Denmark
Norway
Austria
Finland
Hungary
Sweden
Czech Republic

Products and markets available via eToro

As for eToro, it is a CFD broker. In addition, it also offers stocks, cryptocurrencies and ETFs on the spot (that is, without leverage).

However, according to the platform itself, when investing on the spot and the underlying asset is acquired, it is not possible to transfer them and no certificate of ownership is acquired. Likewise, stocks do not include voting rights (although they do include dividends). For an in-depth discussion of what this broker offers, have a look at this eToro review.

Returning to the CFDs, eToro allows you to trade these derivative instruments in the following markets:

• Stocks: More than 3,100 stocks from over 18 markets are available, including USA (Nasdaq, NYSE, and Chicago), Frankfurt, London, Paris, Madrid, Milan, Amsterdam, Zurich, Lisbon, Oslo, Stockholm, Copenhagen, Helsinki, Hong Kong, Brussels and Saudi Arabia.
• ETFs: more than 300 ETFs
• Forex: access to over 50 currency pairs
• Indices: Over 20 indices
• Cryptocurrencies: More than 70 cryptocurrencies (plus crosses with different currencies, raw materials and other cryptocurrencies).
• Commodities: More than 30, including energy, metals and agricultural.

In addition to this, eToro, thanks to its copy trading technology, provides the opportunity to copy the portfolios of master traders and even invest in the so-called CopyPortfolios (investment portfolios based on some idea, algorithm, trader, etc.). This function is excellent for beginners or passive investors, so you may want to check our round-up of the best copytrading brokers in the UK to find out what other options you have.

Which broker offers better account types, eToro or DEGIRO?

Before starting the account opening process, we need to over another important detail. Who offers better account types?

Accounts available with DEGIRO

Opening an account with DEGIRO is a fast and simple process.

In the registration process, the investor must choose between four types of profiles:

• Basic: The basic account provides access to all the products offered by the broker, but does not allow short positions in stocks, or derivatives, and does not have the possibility of leverage. The advantage of this account is that it can later be changed to a more advanced one such as Active or Trader.
• Active Profile: This one provides all the services of the basic profile plus short positions in cash (the ability to take advantage of DEGIRO for leveraged operations), short positions in stocks and other derivatives. With this profile, the use of short positions in cash will be limited to a 50% margin (margin call).
• Trader Profile: It is exactly the same as the active profile, but the short positions will be limited to 100% of the margin call, allowing for riskier trades.
• Day Trader Profile: It is a profile that allows day traders to transact for a longer time so the trading window is from 08:00 AM to 9:30 PM CET. It admits a greater exposure to the market, enhancing the risk.

DEGIRO used to offer a custody account profile; however, it is no longer available.

Therefore, to short-sell, use leverage or derivatives, it will be necessary to change the Basic account to Active, Trader, or Day Trader.

eToro account

eToro has only one type of account for retail customers in addition to the possibility of joining the eToro Club with different memberships, starting from $5,000 equity.

eToro vs DEGIRO: broker fees

Commissions and fees are perhaps one of the main concerns for prospective investors and traders. However, it is important to highlight that you should thoroughly consider more than just the broker’s fees, weighing in all the other aspects discussed in this guide, including regulation and reliability, markets and assets, services, and additional perks.

DEGIRO trading fees

The fee structure is one of the strong points of DEGIRO and one of its main characteristics.

The broker started by offering services to professional clients, so it has unusually low rates. In fact, it is considered one of the cheapest brokers in the UK.

For British stocks, it applies a fixed fee of £1.75 and £1 for handling. Let’s have a look at its main trading fees:

Asset	Fee (+ handling)
US Stocks	€1 + €1
United Kingdom (LSE) Stocks	£1.75 + £1
Global ETFs	Global ETFs
Selected ETFs	€0 + €1
Options	€0.75
Futures	€0.75

To these rates, traders must add currency exchange, which is 0.25% with AutoFX and 0.25% + €10 with ManualFX.

eToro trading fees

If you are looking for the best commission-free brokers on the market, you should know that eToro is one of the few online brokers without any commissions on shares and ETFs. In other words, when investing in stocks and ETFs (long positions, no derivatives), no commission is applied.

The fees for trading CFDs, long or short, on any of the other assets, are variable. These are built into the price and depend on market volatility and the asset chosen. For example, for S&P 500 CFDs, there is a spread of 0.75 built into the cost you see on the trading platform.

The fee for trading crypto is fixed and transparent: you will be charged 1% of the transaction value whenever you buy or sell digital assets.

In the case of CFDs, eToro usually has a variable spread (except for CFDs on stocks and ETFs, which applies a fixed one of 0.15%).

Next, we show the eToro rates on CFDs for each financial market.

Asset	Spread
Currencies	From 1 Pip
Commodities	From 2 Pips
Stock Indices	From 0.75 points
Stocks and ETFs (CFDs)	0.15% + overnight fees
Cryptocurrencies (CFDs)	From 1% + overnight fees

The rest of the fees charged by eToro include funds withdrawal ($5), currency conversion (from 50 pips) and inactivity fee ($10/month), which is applicable only if you are inactive for 12 months.

eToro vs DEGIRO: minimum deposit and account opening

Now that we have determined our preference between eToro and DEGIRO, considering factors such as security, account types, and commissions, let’s focus on two essential aspects: the ease of opening an account and the minimum deposit requirement.

Open an eToro account in 3 steps:

The process of opening an account with eToro is straightforward and can be completed online in just 5 minutes or less. In summary, there are five simple steps involved in opening an account with eToro:

1. Registration: Fill in the form with your name, email address, and password.
2. Account verification: To comply with KYC regulations, you need to upload your ID and proof of address (such as a utility bill), then answer a short questionnaire regarding your financial experience.
3. Deposit your funds: Once your account is verified, you can deposit your funds through several payment options:

• Credit/debit card
• Bank transfer
• Other online payment methods (such as PayPal)

eToro: minimum deposit

As observed, the account opening process is straightforward, quick, and entirely online. However, a minimum deposit of $50 is required for many countries, including the United Kingdom.

However, some other countries have a higher minimum deposit requirement, as shown in the next table below:

Country	Minimum Deposit
United States	$10
Spain, Australia, Austria, Belgium, Bulgaria, Cyprus, Croatia, Denmark, United Arab Emirates, Slovakia, Slovenia, Estonia, Philippines, Finland, France, Greece, Guernsey, Hungary, Indonesia, Ireland, Italy, Latvia, Liechtenstein, Luxembourg, Malaysia, Malta, Monaco, Norway, Netherlands, Poland, Portugal, Czech Republic, Singapore, Sweden, Switzerland, Taiwan, Thailand, Vatican, Vietnam	$50
The rest of eligible countries	$200

Open an account with DEGIRO in 3 steps:

If the account opening process is easy with eToro, it is equally straightforward and intuitive with DEGIRO. In fact, at this stage, it’s easy to notice that both brokers share similar characteristics.

To open an account in DEGIRO, you just have to follow the following three steps:

1. Registration: Go to the DEGIRO website and click on “Register”. Fill out the registration form with your personal information.
2. Account Verification: Provide the necessary information to verify your account, including your ID and proof of address.
3. Deposit: Make your first deposit.

DEGIRO: minimum deposit

Here is an aspect that is particularly noteworthy: it doesn’t matter which European country you are operating from (as long as it is within the countries DEGIRO serves), during step 2 of the “account verification” process, a minimum deposit of £0.1 is required to swiftly verify the authenticity of the account number. Thus, £0.1 is the minimum deposit requirement at DEGIRO.

DEGIRO platform vs eToro WebTrader

Moving on to another noteworthy aspect, let’s compare the DEGIRO platform with the eToro platform.

DEGIRO’s platform

The trading platform offered by DEGIRO to its clients is a comprehensive and efficient tool. It is distinguished by its intuitive interface and user-friendly layout, making it easy to navigate and operate.

Among other functionalities, this platform has a few noteworthy features:

• Easy and quick portfolio management section
• Ability to launch different types of orders
• News section
• Economic calendar

In addition, DEGIRO also has a mobile device application, which has received many accolades, most notably the title of the best trading application in France and the United Kingdom.

eToro’s trading platform

eToro’s trading platform is specially designed to aid traders with social trading and copy trading. In short, the platform is proprietary, entirely web-based, and features a left-side menu that enables intuitive management of all its functions.

Its design is clean and easy to understand. In addition, the left-sided menu displays all the necessary functions for the management of your trading portfolio, including:

• Alerts
• Portfolio reports
• News
• Statistics
• Comments from other traders on the social network

Asset and/or people searches for investment purposes are easily conducted through the search engine located at the top of the screen on eToro’s platform. However, it’s worth noting that apart from the option to create a watch list, customisation features are limited.

Like DEGIRO, eToro also has a trading application for mobile devices.

If you are looking for a more advanced platform, check the best trading platforms available in the UK and the best intraday trading brokers.

Cash deposits and withdrawals: DEGIRO Vs eToro

DEGIRO deposit and withdrawal policy

DEGIRO allows depositing and withdrawing funds by bank transfer only. It does not charge any fee and processing usually takes between 2 and 3 days.

It offers up to 9 base currencies, but as a general rule, the base currency will be that of the trader’s country of origin:

• EUR
• GBP
• CHF
• DKK
• NOK
• SEK
• CZK
• PLN
• HUF

eToro deposit and withdrawal policy

Regarding eToro, it’s important to note that the account’s base currency is US dollars. Therefore, depositing or withdrawing money, the broker applies charges for currency conversion.

However, this broker has several payment methods available:

• Credit/debit card
• Paypal
• Neteller
• Skrill
• Rapid Transfer
• iDEAL
• Bank transfer

In the case of withdrawals, the options are reduced:

• Credit card
• Paypal
• Bank transfer

Additionally, when making deposits via bank transfer, eToro imposes a minimum deposit requirement of $500. This stands as a disadvantage when compared to the Dutch broker, DEGIRO.

Customer service: DEGIRO vs eToro

DEGIRO: customer service

This is the customer service of DEGIRO, very common among online brokers:

• Office in the UK: ❌
• Contact phone: ✅
• Email: ✅
• Chatbot: ❌

DEGIRO’s customer service can be contacted via email or phone. The Servicedesk via phone is available every weekday from 7 AM to 9 PM, but you can send an inquiry via mail 24/7. DEGIRO is generally regarded as having good customer service quality, although there is room for improvement. For instance, some users have reported that the email support service can be somewhat slow.

DEGIRO also provides a dedicated page featuring frequently asked questions (FAQs) and a training section that includes access to a trading and investor’s academy, enabling users to learn market analysis.

On the other hand, DEGIRO does not have a demo account.

eToro: customer service

As for eToro, it offers an excellent level of customer service that meets the standards of forex and CFDs online brokers.

• Office in the UK: ✅
• Contact phone number: ❌
• Email: ✅
• Chatbot: ✅

While eToro offers a live chat feature, it does not provide customer service via telephone. Moreover, its availability is not 24/7. Users can access a help centre through the trading platform, which includes a training section. The eToro customer service is generally recognised as fast and reliable. Furthermore, eToro offers a completely free demo account that can be used for an unlimited time period.

eToro vs DEGIRO: reviews

Another crucial aspect of a comprehensive comparison is evaluating the opinions of the investor community. When looking at Trustpilot, a renowned website for investors, both DEGIRO and eToro receive generally positive ratings, with eToro receiving a score of 4.4 and DEGIRO receiving a score of 4.3. However, it’s worth noting that eToro has a significantly larger number of reviews, over 25 times more than DEGIRO.

eToro reviews on Trustpillot	DEGIRO reviews on Trustpilot

Similarly, if we examine Google Play, a platform where investors often share their reviews regarding usability and features, we find that both DEGIRO and eToro have generally positive ratings. DEGIRO holds a slight advantage, but eToro has a higher number of reviews from its users. Nevertheless, both brokers maintain ratings above 4 stars.

eToro Reviews on Google Play	DEGIRO Reviews on Google Play

Related articles & recommendations

Have a look at our other broker comparisons to check which one is the best for your needs:

• DEGIRO vs XTB
• eToro vs XTB
• DEGIRO vs IG
• eToro vs IG
• Interactive Brokers vs DEGIRO
• eToro vs Trading 212
• eToro vs Plus500

Our opinion on eToro vs DEGIRO comparison

Both brokers are fully regulated by EU entities which ensures compliance with the guarantees outlined by the MiFID Directive. However, it’s important to note that DEGIRO, being a publicly traded bank, is subject to stricter regulations compared to eToro, which is supervised by CySEC and FCA, among others.

In terms of products, the choice between the two brokers depends on your investor profile. DEGIRO is more suitable for beginner stock investors who have an interest in selecting individual stocks. On the other hand, eToro, while also accommodating this long-term investing strategy, is more geared towards traders and offers a wide range of CFDs (Contracts for Difference) on stocks, indices, ETFs, commodities, and cryptocurrencies.

Significant differences can be observed in the fees charged by each broker. eToro stands out as it does not charge any commissions for stock and ETF operations (except for CFDs). In contrast, DEGIRO charges more than £2 for its stocks.

Regarding the trading platform, both brokers have limited customisation options. However, they are user-friendly, although they may be considered somewhat basic for experienced traders.

In terms of customer service, both brokers meet the required quality standards for the industry.

In summary, the comparison between DEGIRO and eToro reveals that they cater to different audiences. eToro primarily focuses on trading, while DEGIRO offers a range of financial instruments suitable for beginner stock investors.

Pros and cons of DEGIRO and eToro

Next, let’s provide a final summary of both brokers, covering all the points mentioned so far:

	DEGIRO	eToro
Strong points	✅Some ETFs are free of charge ✅Well regulated (Netherlands and Germany) ✅ Intuitive platform ✅ No minimum deposit	✅Social trading (copy trading) ✅No commissions (stocks and ETFs) ✅Access to many markets and products
Weak points	❌ Commissions on stocks ❌Does not include CFDs or forex for trading	❌Only allows trading in dollars ❌Bank transfer of a minimum of 500$ ($50 otherwise)

In conclusion, the choice between DEGIRO and eToro as the better broker ultimately depends on the type of investor you identify yourself as. Each broker has its strengths and caters to different investor profiles. It’s recommended to consider your specific investment needs, preferences, and goals before making a decision. We encourage you to share your favourite broker in the comments if you’d like to provide further insights or recommendations.

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