eToro and NessFX are now among the most reputable brokers in their field. These Forex and CFD brokers are both appreciated for their professionalism and the various benefits they offer to traders. But since you have to choose, which one is better? Discover our answer through this comparison
Founded in 2007, eToro entered the market a few years before NessFX. This broker is owned by eToro Ltd (Europe), which has its headquarters in Cyprus and is registered with CySEC. eToro is regulated by all European supervisory authorities, including ACPR Banque de France, FSA, CONSOB and BaFIN. He also practices in accordance with MiFID. Although more recent, launched in 2012, Nessfx has also quickly gained recognition from audit institutions in Europe. This Lionsman Capital Markets Ltd broker is listed on the AMF’s white list, which is a guarantee of reliability for traders.
At registration, NessFX requires a minimum first deposit of €200 from the new trader, while eToro requires only €50. Both brokers allow you to train via a free demo account. However, if NessFX offers a 50% welcome bonus, eToro only offers 5% and only from a deposit of €20,000. Bonus lovers would prefer to register with NessFX.
Although both brokers pride themselves on welcoming all levels of traders, eToro automatically stands out with its trading academy. The broker has a formal school and allows novices to learn about the activity easily. For its part, NessFX also provides educational materials to traders, but focuses mainly on documentation via ebooks and videos.
NessFX and eToro allow you to trade a wide variety of assets, including Forex pairs, indices, equities, and commodities. However, NessFX does not offer bond trading, while at eToro, about 100 new instruments have just been added to its list, including many ETFs. However, these brokers are both No Dealing Desk type. The spreads applied are not the lowest on the market, but remain interesting, at around 3 pips for the Eur/Usd pair. At NessFX, the maximum leverage is 200. However, eToro allows trading with a maximum leverage of 400.
Tools and platforms
both eToro and NessFX offer easy-to-use trading tools. At eToro, we have the classic webtrader, mobile applications and the Openbook social trading platform. NessFX uses the SIRIX platform, with a web version, mobile applications and a social trading network.
While both eToro and NessFX are on the list of the best Forex 2016 brokers, eToro still maintains its leadership position. Already, it is an experienced broker with several years of experience and, as an added bonus, it offers good accessibility to beginners. eToro also boasts more than 4.5 million active members. This is practically the largest social trading network.