| Feature | eToro | Alpaca |
|---|---|---|
| Platform Type | Social trading platform, focuses on copy trading and community engagement. | Commission-free stock and crypto trading platform, aimed at algorithmic and API-based trading. |
| Markets Available | Stocks, ETFs, cryptocurrencies, commodities, indices, forex. | U.S. stocks, ETFs, cryptocurrencies (limited selection). |
| Target Audience | Retail investors, beginners, traders interested in social and copy trading. | Developers, algorithmic traders, and API-focused users. |
| Trading Fees | No commission on stocks, spreads apply for forex and cryptocurrencies, withdrawal fee of $5, currency conversion fees for non-USD accounts. | Zero commission on stocks and ETFs, zero platform fee, fees for specific API and data subscriptions. |
| Account Minimum | $10 minimum deposit for retail accounts. | No account minimum. |
| Copy Trading | Yes, users can copy successful traders' portfolios automatically. | No copy trading feature available. |
| APIs for Developers | Limited API access for data extraction or advanced integrations. | Full-featured APIs for algorithmic trading and integrations. |
| User Interface | Intuitive, user-friendly interface with social features, suited for beginners. | Clean but more technical, designed for advanced users and developers. |
| Mobile App | Yes, fully-featured mobile app available for iOS and Android. | Yes, but primarily focused on functionality rather than social features. |
| Social Features | Extensive, including feeds, comments, and ability to interact with other traders. | None. |
| Educational Resources | Comprehensive, includes webinars, tutorials, blogs, and demo accounts. | Limited, offers basic documentation and developer resources. |
| Leverage | Up to 30:1 for retail clients (forex and CFDs), varies by jurisdiction. | None, offers cash and margin accounts for U.S. stocks. |
| Regulation | Regulated by FCA (UK), CySEC (Cyprus), ASIC (Australia), FinCEN (U.S.) for crypto services. | Regulated by FINRA and SIPC for U.S. securities trading. |
| Account Types | Retail and professional accounts, Islamic accounts available. | Cash and margin accounts. |
| Customer Support | 24/5 support via live chat and email, limited phone support. | Email support, community forums, and Slack support for developers. |
| Trading Platforms | Proprietary platform only, no MetaTrader or third-party platform support. | Proprietary platform with API integration options, no MetaTrader support. |
| Data Access | Limited to in-platform data and charts. | Offers market data through API, including historical and real-time data (fees apply for premium plans). |
| Availability | Over 140 countries, including U.S. (crypto only). | U.S. only, trading limited to U.S. markets. |
| Deposit and Withdrawal Options | Bank transfers, credit/debit cards, PayPal, Skrill, Neteller. | ACH transfers, wire transfers, no credit/debit card or PayPal support. |
| Crypto Trading | Yes, offers crypto trading with a large selection of coins. | Yes, but limited crypto offerings compared to eToro. |
| Security | SSL encryption, two-factor authentication (2FA), segregated client funds. | SSL encryption, 2FA, supports account-level API keys for additional security. |
| Demo Account | Yes, offers a virtual trading account with $100,000 in simulated funds. | Yes, offers a paper trading environment for testing strategies. |
| Fractional Shares | Yes, allows fractional trading of stocks and ETFs. | Yes, supports fractional shares for U.S. stocks. |
| Account Currency | USD by default, non-USD deposits incur currency conversion fees. | USD only, no currency conversion services provided. |
| Tax Reporting | Provides tax documents (e.g., 1099 forms for U.S. users). | Provides 1099 forms for U.S. users, supports capital gains and losses tracking. |
| Order Types Supported | Market, limit, stop-loss, trailing stop orders. | Market, limit, stop, stop-limit orders. |
| Third-Party Integrations | None, limited to its proprietary platform ecosystem. | Extensive, integrates with third-party platforms like TradingView, Zapier, and others. |
| Advanced Charting Tools | Basic charting tools with limited indicators. | Advanced charting available through API integrations and third-party tools. |
| Execution Speed | Relatively slower for complex trades (due to social trading elements). | Optimized for fast execution, especially for API-based trades. |
| Payout Timing | Withdrawals typically processed within 1-2 business days, may take longer for international users. | Withdrawals processed within 1 business day, ACH transfers usually take 1-2 days. |
| Community Analytics | Provides community-driven analytics, including popular trends and top traders. | No community-driven analytics available. |
| Algorithmic Trading | Not supported, no tools or APIs for automated strategies. | Fully supported, designed for algorithmic trading with comprehensive APIs. |
| Recurring Investments | Allows recurring investments for stocks and ETFs. | No recurring investment feature. |
| Performance Analytics | Offers basic portfolio performance analytics within the platform. | No built-in performance analytics, users rely on external tools or custom API solutions. |
| Account Accessibility | Web-based platform and mobile app only, no desktop application. | Web-based platform, mobile app, and API-first design for custom applications. |
| Research Tools | Provides curated research, news feeds, and third-party analyst opinions. | Limited in-platform research, relies on external tools via API for detailed analysis. |
| Trade Alerts | Yes, customizable alerts for price movements and portfolio changes. | No in-platform trade alerts, users can program custom alerts through APIs. |
| Customer Onboarding | Simplified onboarding process, ideal for beginners. | Requires basic trading knowledge, more technical setup for API usage. |
| User Community | Large, vibrant community with active discussions and trader sharing. | No formal user community, developer forums and Slack groups are the closest alternatives. |
| Access to IPOs | Not available. | Not available. |
| Dividend Reinvestment (DRIP) | Supported, allows automatic reinvestment of dividends. | Not supported, dividends credited as cash only. |
| Customization Options | Limited customization, focus on standard social trading features. | Highly customizable through API programming and third-party tools. |
| Regulatory Reporting | Includes tools to comply with European and U.S. regulations (e.g., MiFID II, FATCA). | Complies with U.S. regulations only (FINRA, SEC). |
| Risk Management Tools | Stop-loss, take-profit, portfolio rebalancing tools. | No built-in risk management tools, users can create custom solutions via API. |
| Corporate Actions | Automatically reflects corporate actions (e.g., stock splits, mergers, dividends) in portfolios, notifications provided. | Automatically handles corporate actions, including stock splits and dividends, but with no notifications. |
| Regulated Crypto Wallet | Offers a dedicated crypto wallet (eToro Money) for secure crypto transfers and holdings, supports private key recovery. | No dedicated crypto wallet, funds held on the platform only; external wallets must be managed independently. |
| Transfer of Assets | Supports internal transfers between accounts (e.g., crypto wallet to trading account), but no external asset transfer for stocks or ETFs. | Does not support asset transfers; all assets must be liquidated for withdrawal or transferred as cash. |
| Staking | Yes, offers staking for specific cryptocurrencies like Ethereum, Cardano, and TRON, with competitive yields. | No staking options available for cryptocurrencies. |
| Fees for Inactivity | Charges $10 monthly inactivity fee after 12 months of no trading or login activity. | No inactivity fees. |
| Custom Trading Scripts | Not supported; users rely on manual or copy trading functionality. | Fully supported through APIs, allows integration of custom scripts and trading bots. |
| Supported Crypto Features | Crypto-to-crypto trading, wallets, and staking features available. | Only supports buying, selling, and holding crypto; no additional features like staking or crypto-to-crypto trading. |
| KYC (Know Your Customer) | Comprehensive KYC process, includes identity verification, proof of residence, and additional checks depending on region. | Standard KYC process, streamlined for U.S. users but may require additional documentation for certain accounts. |
| Order Execution Transparency | Provides basic details about order execution but lacks advanced order-routing details. | Offers high transparency on order execution and routing through API, suitable for advanced analysis. |
| Interest on Idle Cash | Does not offer interest on uninvested cash balances. | No interest provided on uninvested cash balances. |
| Partnership Programs | Offers affiliate and popular investor programs for earning additional income. | No affiliate or partnership programs. |
| Geographic Restrictions | Available in over 140 countries, restrictions on U.S. users for non-crypto trading, unavailable in certain regions like Canada and Japan. | Available only to U.S. residents; international users cannot open accounts. |
| Regulatory Fines/Issues | Has faced minor regulatory penalties in some jurisdictions but maintains strong compliance overall. | Minimal history of regulatory fines, relatively newer platform with fewer legacy issues. |
| Account Customization | Limited ability to customize account features beyond standard options. | High level of customization for API users, including permissions and integrations. |
| Risk Disclosure | Provides detailed risk disclosure and educational material to comply with global financial regulations. | Offers risk disclosure documents but focuses primarily on compliance rather than education. |
| Latency and Reliability | Optimized for social trading, minimal downtime, but high latency for large-scale or high-frequency trades. | Low latency, designed for algorithmic and high-frequency trading with scalable infrastructure. |
| Gamification Elements | Employs gamification techniques such as badges, leaderboards, and progress tracking to enhance user engagement. | No gamification elements; platform designed for professional use. |
| Data Export Options | Limited export options; provides PDF or Excel reports for portfolio and transaction history. | Extensive data export capabilities through API, allows integration with analytics platforms. |
| User Privacy | Shares some user trading activity publicly in the social network unless privacy settings are adjusted. | Strictly private trading environment, no public sharing of user activity or data. |
| Daily Account Updates | Provides daily email summaries of portfolio performance and relevant market news. | No automated daily account updates; users rely on API or manual checks. |
| Collaborations with Institutions | Partnered with financial institutions to provide white-label solutions and API integrations. | Focused on partnerships with developer and fintech communities for innovation and growth. |
| Onboarding Incentives | Frequently offers promotions like referral bonuses, risk-free trading periods, or cash bonuses for new users. | No onboarding incentives or promotions, focuses on low-cost trading benefits. |
| Sustainability Investing | Offers curated portfolios focusing on ESG (Environmental, Social, and Governance) factors. | Does not provide specific ESG or sustainability-focused investment options. |
| Advanced Tools for Professionals | Limited advanced tools, mainly caters to retail investors. | Highly advanced tools for professional traders and developers, particularly through APIs. |
eToro is ideal for beginners and social trading enthusiasts with diverse market access, while Alpaca caters to developers and algorithmic traders with API-driven functionality.