Alpari and eToro are fierce competitors in online trading, and each company has a lot going for it. This comparison will be pitting two giant companies against one another so that you can make a wise decision. eToro recently announced they had over 12 million clients, while Alpari has 2 million. Despite this difference, both of these online brokers are great in their own way. The only way to really know the best one for you is to look at their services individually.
Regulation is necessary in the online market because it is the only way to prevent yourself from being defrauded. eToro is the brand name of the company eToro Group Limited which operates under 3 different subsidiaries. In the UK, eToro (UK) is licensed by the FCA under the license FRN 583263. Another of its subsidiaries, eToro AUS Capital is regulated by ASIC under the License 491139. The third subsidiary, eToro Europe is regulated by CySEC under the license number 109/10. These licenses allow Alpari to operate in most countries around the world with the exception of the US.
However, Alpari has only one license issued by the Financial Services Commission (FSC) in Mauritius. Alpari is the brand name used by the company Exinity Limited, which was awarded the license number C113012295 as an Investment Dealer.
Because eToro has a lot more licenses, and from more reliable regulators, it is the winner in this category.
Deposit and withdrawal
How you deposit and withdraw your funds will affect your experience, and this is how Alpari and eToro compare.
- Bank transfer
- Union Pay
- Credit card (Visa)
- LatAm online banking
- Online banking
- Vload eVouchers
- Web Money
Each of the above funding methods has different commissions, processing times and base currency. To find out more about each, use this link to the Alpari website.
All deposits are in USD, so conversion rates will apply when using other currencies.
- Bank transfer
- Credit Card (Visa, MasterCard, Diners Club, Maestro),
Minimum deposit for the first time is $200, but US and Australia residents can start with $50 and Israel residents must come up with $10,000. Deposits by wire transfer have a minimum of $500 and the minimum withdrawal is $30.
Clearly, Alpari has a lot more funding methods and wins this category.
Traders on eToro are limited to using the web trader without a downloadable app for desktop. Mobile users on either Android or iOS do have downloadable apps, though, so that they can trade on the go.
While the online platform is still very capable, it’s no match for all the apps Alpari has made available. These are:
- MetaTrader 4
- MetaTrader 5
- Alpari Fix-Contracts
- Alpari Invest
Here too, Alpari is a winner by having more trading platforms.
Ease of use
Sometimes, having too many products and features makes something too complex. Nevertheless, each broker has to outshine its competition, and that’s only done by making every tool easily accessible. eToro is well known for its social trading facility, and it makes this easily accessible right from the trading platform. That way, you can easily check up on the social feed while trading.
Alpari has the advantage of using popular MetaTrader platforms that most traders are comfortable with. Therefore, it’s easy to start trading right after signing up. To further sweeten the pot, the company usually runs contests with prizes, special offers and bonuses. All these are designed to make it easier to join Alpari and start trading.
Considering all these, we believe that it’s a tie between the two brokers as each has something great to offer.