eToro vs IG Markets 2026

Neither is a raw-spread ECN broker, so both build forex costs into the spread. In our recording, IG averaged 0.86 pips on EUR/USD versus around 1.0 pip at eToro. Neither is ECN-cheap for active forex, but IG is the tighter of the two and, crucially for Australians, lets you hold an AUD account.

eToro accounts are denominated in USD, so every AUD deposit converts at 0.5% (bank) to 1.5% (card), and withdrawals cost US$5. IG charges none of that on AUD accounts. On shares, IG offers zero-commission US and UK trades, while eToro charges US$2 per side on Australian and US shares since late 2024.

For Australian traders, IG’s AUD account removes the forced currency conversion that quietly costs eToro users on every deposit and withdrawal. Combined with tighter forex spreads and zero-commission shares, IG is the cheaper platform to operate for most active Australians.

eToro doesn’t compete on spread — its value is copy trading and a simple, social experience. If you plan to mirror experienced traders rather than trade actively yourself, the spread gap matters less. Verify current spreads and fees directly with each broker before opening an account.

eToro pioneered copy trading and still leads it. You can automatically mirror experienced investors or invest in thematic Smart Portfolios, all inside a clean, social app with real shares and crypto. It is the friendliest platform here for beginners who want community and a low learning curve — but it lacks MetaTrader, advanced charting and DMA.

IG offers its own platform, ProRealTime charting, L2 Dealer DMA, MT4, TradingView and API access, spanning 18,000+ markets. It serves everyone from casual investors to professional DMA traders, with the deepest research and education of the two. The trade-off is a steeper learning curve than eToro’s app.

Both brokers are ASIC-regulated — the baseline we insist on for any broker listed on KolaTrading. Both keep client funds segregated and provide negative balance protection for Australian retail clients. The ASIC protection is identical at both.

IG, founded in 1974 and a FTSE 100 member since March 2026, is one of the most heavily regulated brokers in the world, with tier-1 oversight across six jurisdictions. eToro is Nasdaq-listed and ASIC, FCA and CySEC-regulated — robust, but a narrower footprint. For an Australian retail trader, both provide identical ASIC protections; verify both AFSLs on the ASIC Connect register.

We funded and withdrew real AUD at both brokers in March 2026. At eToro the AUD-to-USD conversion applied on the way in, plus a US$5 fee on the way out. At IG the AUD account incurred no conversion fee and the withdrawal was free, arriving within two business days.

For Australians, IG is clearly cheaper to move money in and out of, and supports BPAY. eToro’s slightly lower A$50 minimum is friendlier to start, but its USD base and per-withdrawal fee add up for active users.