eToro vs TrioMarkets - 2022 Comparison | FX Australia
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Australia, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.63/ 5 AUD 50CySEC Regulated BrokersFCA Regulated BrokersASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityMarket MakerCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices4976
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
Read Review 11110.54.5/ 5 111104/ 5 111104/ 5 110002/ 5 10.50001.5/ 5 111104/ 5 111104/ 5 67%30:11 pips Professional, Standard etoroBank Transfer, Skrill, PaypalFees Included in Spread
1110.503.58/ 5 USD 100CySEC Regulated BrokersFinancial Services CommissionDubai Financial Services AuthorityECN/DMACryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals634
  • Tight spreads
  • High minimum deposit
  • Limited education
  • Limited market analysis
  • Expensive withdrawals
Read Review 1110.503.5/ 5 1110.503.5/ 5 111104/ 5 111003/ 5 111003/ 5 111104/ 5 111104/ 5 73.6%300:10 pips Advanced RAW, Basic, Premium RAW, Standard MT4Bank Transfer, Visa, Mastercard, Skrill, NetellerFees Included in Spread

How do eToro and TrioMarkets stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

eToro

TrioMarkets

At FX Australia, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare eToro and TrioMarkets, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does eToro or TrioMarkets have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that eToro holds two Tier 1 and one Tier 2 licences, and TrioMarkets holds no Tier 1 and two Tier 2 licences.

 

Can I trust eToro?

Yes as eToro was founded in 2006 and is regulated by ASIC, CySEC, FCA and FSA-Seychelles.

 

Can I trust TrioMarkets?

Yes as TrioMarkets was founded in 2015 and is regulated by CySEC, DFSA and FSC.

 

Based on these findings, eToro earned a higher trust rating than TrioMarkets.

Does eToro or TrioMarkets have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that eToro has overall lower trading costs than TrioMarkets. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Commission
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
eToro
111104/ 5
USD
1.00 pips
USD 0
USD 10
1.00 pips
2.00 pips
1.00 pips
TrioMarkets
1110.503.5/ 5
USD, EUR, GBP, CHF
2.40 pips
USD 0
USD 24
0.00 pips
0.20 pips
1.00 pips

 

Does eToro or TrioMarkets offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, eToro offers support for etoro and TrioMarkets offers support for MT4. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both eToro and TrioMarkets offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
eToro
111104/ 5
etoro
TrioMarkets
111104/ 5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that TrioMarkets offers a greater range and depth of instruments to trade than eToro. TrioMarkets offers 63 Forex pairs to trade and eToro offers 49 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, eToro offers 76 cryptocurrencies while TrioMarkets offers 4 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with eToro.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that both eToro and TrioMarkets charges a withdrawal fee. Overall, TrioMarkets has better deposit and withdrawal processes than eToro. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

eToro and TrioMarkets both have poor educational support. Neither eToro nor TrioMarkets offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
eToro
Low
TrioMarkets
Low

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that TrioMarkets offers better research analysis than eToro and that eToro offer frequent webinars and TrioMarkets does not.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
eToro
TrioMarkets

 

Our overall Verdict on eToro

Founded in 2007, eToro is an ASIC-regulated social trading broker. It remains the most popular social trading broker in Australia. eToro’s simple, well-designed trading platform places copy trading and its social network at the heart of its trading experience. However, these features are often more popular among beginners who haven’t yet developed advanced trading strategies.

eToro clients can only use eToro’s trading platform, so they will not have access to the automation tools available on common third-party platforms like MT4 and MT5. We were also disappointed by eToro’s high fees. These include currency conversion fees for deposits and withdrawals in currencies other than USD and a charge of 5 USD for each withdrawal. We also found eToro’s customer service to be generally non-responsive and we were let down by the lack of educational support.

Overall, eToro has many positive features for beginners and others who enjoy social trading, but more experienced traders may find eToro’s limitations and high non-trading fees difficult to overlook.

Our overall Verdict on TrioMarkets

With a range of useful trading tools and a large set of Forex pairs, TrioMarkets may appeal to experienced traders looking for a new MT4 broker, though trading costs are extremely high on all account options.  

An ECN/STP broker, Triomarkets offers trading on 60+ Forex pairs, cryptocurrencies, metals, indices, shares, energies, and commodities.  With four live accounts, TrioMarkets’ commission-free entry-level account has a minimum deposit of 500 USD, but very wide spreads (2.4 pips on the EUR/USD).  Spreads tighten to 0 pips on its Premium Account - with a relatively high commission of 8 USD (round turn) - but this account requires a minimum deposit of 50,000 USD, making it inaccessible to most traders.  

TrioMarkets only supports the MT4 trading platform, but it does offer various powerful trading tools. TrioExtend is an MT4 plugin that features sophisticated alarms and messaging systems, technical analysis tools, and live sentiment and correlation tracking.  TrioMarkets also offers a social trading platform, FIX API, a VPS hosting service, and MAM/PAMM accounts.  

TrioMarkets provides little in the way of educational and market analysis materials and customer support is also largely unresponsive and unavailable, making it a poor choice for beginner traders.    

Which broker has the highest overall rating?

eToro has an overall rating of 3.63 and TrioMarkets has an overall rating of 3.58. For more detail please read our reviews of eToro and TrioMarkets.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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