eToro vs FP Markets: Honest 2026 Comparison

Affiliate disclosure: this article contains partner links. KenMacro may earn a commission when you open an account through these links, at no additional cost to you. The desk only partners with brokers that pass our regulatory and execution-quality screen.

eToro and FP Markets both target the social-trading vs ASIC raw-spread archetype but with different trade-offs. eToro carries FCA, CySEC, ASIC, FinCEN oversight, founded 2007, with social trading network and copy trading. FP Markets runs ASIC, CySEC, FSCA, FSA Saint Vincent, founded 2005, with ecn execution under asic since 2005, iress share-cfd platform, low commission on raw. For the social-trading vs ASIC raw-spread archetype, FP Markets is the cleaner fit.

By Ken Chigbo, Founder, KenMacro, 18-plus years in markets, London trading floor and institutional FX. The framework runs daily inside the MACRO MASTERY desk.

At a glance

Variable	eToro	FP Markets
Founded	2007	2005
Regulation	FCA, CySEC, ASIC, FinCEN	ASIC, CySEC, FSCA, FSA Saint Vincent
Min deposit / fee	$50 (most regions), $10 (US)	$100 (Standard, Raw)
EUR/USD spread	1.0 pip typical (commission-free, spread-only)	0.0 pips raw (Raw account), 1.0 pip typical (Standard, spread-only)
Commission	Spread-only, no commission on most instruments	Raw account $6 round-turn, Standard zero
Max leverage	1:30 FCA / ASIC / CySEC retail, lower on some assets	1:30 ASIC, CySEC retail, up to 1:500 SVG offshore
Platforms	Proprietary web platform, eToro App	MetaTrader 4, MetaTrader 5, IRESS (shares CFD), TradingView, cTrader, FP Markets mobile app
Payment / payouts	Bank wire, cards, PayPal, Skrill, Neteller. $5 withdrawal fee. Inactivity fee after 12 months.	Bank wire, debit and credit cards, PayPal, Skrill, Neteller, BPay (AU), crypto. Free on most methods.
Trustpilot 2026	4.3 / 5	4.7 / 5
Key strength	Social trading network and copy trading	ECN execution under ASIC since 2005, IRESS share-CFD platform, low commission on Raw

Regulation and trust

eToro carries FCA UK firm reference 583263, CySEC Cyprus licence 109/10, ASIC Australia licence 491139, and FinCEN registration for the US entity. Public-company status via Nasdaq listing (2025). FP Markets runs First Prudential Markets Pty Ltd holds ASIC AFSL 286354. First Prudential Markets Ltd is regulated by CySEC under licence 371/18. FP Markets ZA is FSCA-regulated FSP 50926. FP Markets Saint Vincent operates under the FSA SVG offshore licence. Founded 2005, headquartered in Sydney, one of the longer-operating ECN-style retail brokers in the Australian regulatory perimeter. Regulator depth is one of the cleanest filters when picking a broker, the deeper the audited stack the better the recourse if anything goes wrong. Neither broker is in the partner stack the desk runs daily. Blueberry Markets is the partner alternative the desk routes to: raw-spread account economics under ASIC oversight, plus the bundled MACRO MASTERY desk overlay through the KenMacro IB relationship.

eToro, the regulator footprint runs FCA UK firm reference 583263, CySEC Cyprus licence 109/10, ASIC Australia licence 491139, and FinCEN registration for the US entity. Public-company status via Nasdaq listing (2025).

FP Markets, by contrast, operates under First Prudential Markets Pty Ltd holds ASIC AFSL 286354. First Prudential Markets Ltd is regulated by CySEC under licence 371/18. FP Markets ZA is FSCA-regulated FSP 50926. FP Markets Saint Vincent operates under the FSA SVG offshore licence. Founded 2005, headquartered in Sydney, one of the longer-operating ECN-style retail brokers in the Australian regulatory perimeter.

Spreads and commission

On the headline raw account tier, eToro posts 1.0 pip typical (commission-free, spread-only) on EUR/USD with spread-only, no commission on most instruments. FP Markets posts 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) with raw account $6 round-turn, standard zero. All-in cost is the relevant comparison rather than the headline raw spread on its own, the commission rate per round-turn lot can flip the verdict for high-frequency traders. On the social-trading vs ASIC raw-spread archetype, FP Markets edges the cost stack.

On the headline raw account tier, eToro posts 1.0 pip typical (commission-free, spread-only) on EUR/USD with spread-only, no commission on most instruments. FP Markets posts 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) with raw account $6 round-turn, standard zero. Both numbers are sourced from the brokers’ published spread sheets and cross-referenced against live execution windows during NFP and FOMC.

Platforms

eToro’s platform stack runs proprietary web platform, etoro app. FP Markets covers metatrader 4, metatrader 5, iress (shares cfd), tradingview, ctrader, fp markets mobile app. Platform fit is rarely the differentiator on its own, the question is which stack lines up with the trader’s existing chartwork and automation. For traders running MetaTrader expert advisors or TradingView native chartwork, both brokers cover the standard set, the differentiator lives in any proprietary platform extension on each side.

eToro’s platform stack covers proprietary web platform, etoro app, while FP Markets runs metatrader 4, metatrader 5, iress (shares cfd), tradingview, ctrader, fp markets mobile app. Platform fit is rarely the differentiator on its own, the differentiator is how the platform set lines up with the trader’s existing chartwork and automation set.

Payments and withdrawals

eToro: Bank wire, cards, PayPal, Skrill, Neteller. $5 withdrawal fee. Inactivity fee after 12 months. FP Markets: Bank wire, debit and credit cards, PayPal, Skrill, Neteller, BPay (AU), crypto. Free on most methods. Withdrawal infrastructure is a quiet but high-impact layer. The cleanest brokers process broker-side withdrawals same-day on most methods with zero broker-side fees, intermediary-bank delays are the variable element on bank-wire withdrawals.

eToro: Bank wire, cards, PayPal, Skrill, Neteller. $5 withdrawal fee. Inactivity fee after 12 months.

FP Markets: Bank wire, debit and credit cards, PayPal, Skrill, Neteller, BPay (AU), crypto. Free on most methods.

Who should pick eToro

Who should pick FP Markets

The desk’s verdict

The MACRO MASTERY angle

Broker selection is one piece of the framework. Macro positioning is what compounds across cycles, irrespective of the execution venue. The MACRO MASTERY desk runs daily macro pulses, NFP and FOMC and CPI live coverage, BTC whale-flow signals, weekly performance scorecard, and the live MT5 signal bridge.

Frequently asked questions

Which is better, eToro or FP Markets?

For the social-trading vs ASIC raw-spread archetype: FP Markets, on ecn execution under asic since 2005, iress share-cfd platform, low commission on raw. Both are credible options inside their respective regulator stacks.

Is eToro safer than FP Markets?

eToro runs FCA, CySEC, ASIC, FinCEN. FP Markets runs ASIC, CySEC, FSCA, FSA Saint Vincent. Both segregate client funds per regulator rules. The deeper the audited stack the cleaner the recourse if anything goes wrong, Nasdaq-listed vs ASIC plus CySEC is the differentiator on this pair.

Are eToro spreads tighter than FP Markets?

eToro posts 1.0 pip typical (commission-free, spread-only) with spread-only, no commission on most instruments. FP Markets posts 0.0 pips raw (raw account), 1.0 pip typical (standard, spread-only) with raw account $6 round-turn, standard zero. All-in cost is the operationally relevant comparison rather than the headline raw spread on its own.

Which has lower minimum deposit, eToro or FP Markets?

eToro: $50 (most regions), $10 (US). FP Markets: $100 (Standard, Raw). The lower minimum is the cleaner door-opener for early-stage traders, but capital should match the trader’s risk-management plan rather than the broker’s floor.

Which has the bundled MACRO MASTERY desk overlay?

Neither broker is in the partner stack the desk runs. Blueberry Markets is the partner alternative the desk routes to: raw-spread account economics under ASIC oversight, plus the bundled MACRO MASTERY desk overlay through the KenMacro IB relationship.

Can I run both eToro and FP Markets accounts?

Yes. Many traders run more than one broker account in parallel, eg one for ECN raw execution and one for spread-only proprietary platforms. Both brokers segregate client funds per their respective regulator rules, so capital is protected on each entity’s terms even if one entity fails.

Related reading

• Best forex brokers 2026, the institutional verdict
• How to choose a forex broker, the desk’s framework
• Vantage vs Blueberry vs Star Trader, three-way verdict

Educational analysis only. Past performance does not guarantee future results. Manage risk against your own portfolio. CFD and margin trading carry significant risk of loss. Verify current eToro and FP Markets terms against each official documentation before opening an account.

Sources cross-referenced for this eToro vs FP Markets comparison: https://www.etoro.com/about/regulation/, https://register.fca.org.uk/, https://uk.trustpilot.com/review/etoro.com, https://www.fpmarkets.com/about-us/regulation/, https://connectonline.asic.gov.au/RegistrySearch/, https://uk.trustpilot.com/review/fpmarkets.com, Trustpilot aggregations 2026.