eToro vs Admirals - 2023 Comparison | Forex Malaysia
AuthorBy Björn Michels
Updated: August 22, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At Forex Malaysia, 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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Select brokers to compare

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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
1110.503.58/ 5 USD 200CySEC Regulated BrokersFCA Regulated BrokersASIC 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 1110.503.5/ 5 67%400:11 pips Professional, Standard etoroBank Transfer, Mastercard, Visa, Paypal, Skrill, NetellerFees Included in Spread
11110.54.18/ 5 USD 25ASIC BrokersCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityJordan Securities CommissionSTPBonds, Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals5042
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Expensive withdrawals
Read Review 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 100001/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 76%500:10.80 pips Bet.MT5, Trade.MT4, Trade.MT5, Zero.MT4, Zero.MT5 MT4, MT5, MT SupremeMastercard, Visa, Skrill, Neteller, Bank Transfer1.8 - 3 USD per lot

How do Admirals and eToro 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.

Admirals

eToro

At Forex Malaysia, 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 Admirals and eToro, 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 Admirals or eToro 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 Admirals holds two Tier 1 and one Tier 2 licences, and eToro holds two Tier 1 and one Tier 2 licences.

 

Can I trust Admirals?

Yes as Admirals was founded in 2001 and is regulated by ASIC, CySEC, FCA, FSCA and JSE.

 

Can I trust eToro?

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

 

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

Does Admirals or eToro 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 Admirals has overall lower trading costs than eToro. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
eToro
111104/ 5
USD
1.00 pips
USD 10
1.00 pips
2.00 pips
1.00 pips
USD 0
Admirals
11110.54.5/ 5
EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, RON, RUB, AUD, ZAR
0.80 pips
USD 8
0.80 pips
0.60 pips
0.30 pips
USD 0

 

Does Admirals or eToro 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, Admirals offers support for MT4, MT5 and MT Supreme and eToro offers support for etoro. 

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 Admirals and eToro offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
eToro
111104/ 5
etoro
Admirals
11110.54.5/ 5
MT Supreme

 

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 Admirals offers a greater range and depth of instruments to trade than eToro. Admirals offers 50 Forex pairs to trade and eToro offers 49 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, eToro offers 76 cryptocurrencies while Admirals offers 42 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 eToro charges a withdrawal fee and Admirals does not. Overall, eToro has better deposit and withdrawal processes than Admirals. 

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. 

Admirals has better educational support than eToro. Admirals offer educational support for more experienced traders and eToro does not.

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Broker
Beginner Course
Advanced Course
eToro
Admirals

 

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 Admirals offers better research analysis than eToro and that both Admirals and eToro offer frequent webinars.

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

 

Our overall Verdict on Admirals

A trustworthy global online broker, Admirals is regulated by some top-tier authorities, offers a range of low-cost accounts, and has an excellent suite of trading tools. 

Admirals offers support for the MT4 and MT5 trading platforms in addition to Admirals’ sleek mobile app that is intuitive and easy to set up. Admirals boasts excellent trading conditions on four live accounts. The minimum deposit requirements are only 25 USD on all accounts, spreads average at 0.8 pips (EUR/USD) on its commission-free accounts, and commissions of 6 USD (round turn) are charged on its Zero Accounts. 

Admirals is home to the MetaTrader Supreme Edition, a plugin that offers technical analysis on virtually every financial instrument.  It also offers a VPS service to clients that deposit more than 5000 EUR, which is substantially higher than the minimum deposit requirement, but offers Trading Central for free.

One drawback for those considering trading with Admirals is the high deposit fees charged on accounts with different currencies to those on offer at the broker.

Our overall Verdict on eToro

Founded in 2007, eToro is a well-regulated and trustworthy broker and remains the most popular social trading broker in Malaysia. 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.

Which broker has the highest overall rating?

Admirals has an overall rating of 4.18 and eToro has an overall rating of 3.58. For more detail please read our reviews of Admirals and eToro.

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