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tastytrade vs eToro 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of tastytrade vs eToro, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.

tastytrade
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.50 info
eToro
4/5 Stars Overall
  • Minimum Deposit: $50.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

In a comparison of online brokers, tastytrade emerges as a more versatile platform for investment options compared to eToro. This is reflected in its higher rating of 4 stars for investment options, significantly surpassing eToro's 2.5 stars. Additionally, StockBrokers.com ranks tastytrade 11th out of 18 brokers, while eToro trails at 17th place. Tastytrade offers a more extensive range of trading opportunities, including options for margin trading, futures trading, and various IRA accounts, making it a suitable choice for diverse investment strategies.

Both tastytrade and eToro offer stock and options trading, providing users with the flexibility to manage portfolios that include both these asset types. They also allow for fractional shares trading, enabling investors to purchase smaller portions of high-priced stocks. However, it’s worthwhile to note that neither platform provides access to OTC stocks or mutual funds, narrowing the investment choices in this regard.

When it comes to cryptocurrency trading, both brokers extend their services but with significant differences in offerings. Tastytrade lists only 4 coins for crypto trading, while eToro provides access to a broader selection of 26 cryptocurrencies, allowing for greater diversification in that arena. Despite this, tastytrade's provision of futures trading and IRA accounts widens its appeal to investors seeking traditional and retirement account options, areas where eToro falls short. Neither platform offers advisor services, indicating a focus on self-directed trading. Overall, the breadth of investment options and account types positions tastytrade ahead of eToro for those requiring a broader suite of investment opportunities.

Feature tastytrade logotastytrade
eToro logoeToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info Yes info Yes
OTC Stocks info No No
Mutual Funds info No No
Options Trading info Yes Yes
Futures Trading info Yes No
Crypto Trading info Yes Yes
Crypto Trading - Total Coins info 4 26
Investment Options 4/5 Stars 2.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024

Trading platforms and tools

In the realm of trading platforms and tools, tastytrade emerges as a compelling choice, securing a 4.5-star rating and a ranking of 6th among 18 brokers, as evaluated by StockBrokers.com. By contrast, eToro receives a 3.5-star rating and is placed 12th. This suggests that tastytrade offers a more advanced and user-friendly experience overall. This can be attributed to its comprehensive set of trading features, especially when it comes to downloadable platforms, technical tools, and charting capabilities that cater to both Windows and Mac users.

Additionally, tastytrade stands out with a robust selection of technical indicators, offering 308 compared to eToro's 46, and provides more customization opportunities with tools such as the ability to adjust open orders directly on a stock chart. While both platforms allow users to add notes to charts, display index overlays, and save multiple chart profiles, tastytrade goes further with features like showing historical trades and displaying corporate events on charts, enhancing its appeal for traders valuing in-depth chart analysis.

However, eToro does offer unique features like paper trading, which may appeal to novice traders looking to hone their skills without risking actual capital. While eToro’s web-based platform is accessible for more casual users, it lacks a desktop version, which could be a downside for those looking for more traditional desktop trading experiences that tastytrade readily provides.

Feature tastytrade logotastytrade
eToro logoeToro
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Paper Trading info No Yes
Watch Lists - Total Fields info 33 7
Charting - Indicators / Studies info 308 46
Charting - Drawing Tools info 31 48
Platforms & Tools 4.5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024

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Beginners and education

When comparing the educational capabilities of tastytrade and eToro for beginner investors, it becomes evident that tastytrade offers a more focused and comprehensive approach. Tastytrade excels with a wide array of educational resources, including dedicated stock, ETF, and options education, along with access to webinars that are appreciated by users for enhancing their learning journey. Even though tastytrade lacks certain features like paper trading and educational videos, it makes up for it by allowing users to track their learning progress, which is an essential aspect of a structured educational experience. Tastytrade's commitment to investor education is reflected in its 4-star rating for education and its position as #8 among 18 brokers in StockBrokers.com's rankings.

In contrast, eToro prioritizes a different educational approach, focusing on practical experience through paper trading and providing a wealth of educational videos. While it offers comprehensive stock education, its lack of coverage in ETFs and options is noticeable for those looking for a more diversified understanding of various securities. Despite offering more interactive methods like paper trading, eToro does not provide features like learning progress tracking or webinars. With a 2.5-star education rating and a #16 ranking according to StockBrokers.com, eToro has room for improvement to match the comprehensive educational framework provided by tastytrade.

Feature tastytrade logotastytrade
eToro logoeToro
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info No No
Education (Bonds) info No No
Paper Trading info No Yes
Videos info No Yes
Webinars info Yes No
Education 4/5 Stars 2.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

Both tastytrade and eToro offer compelling stock trading apps with their own distinct strengths. Tastytrade is recognized for its well-rounded offerings, including mobile after-hours trading, options trading, and the ability to customize watch list columns. Additionally, tastytrade provides a comprehensive charting experience with features like after-hours charting and viewing in landscape mode. Despite its comprehensive features, tastytrade lacks technical studies, offering none in its app compared to eToro's 103. On the other side, eToro excels with its stock alerts, user-friendly customization options like creating watch lists, and a substantial library of on-demand videos, making it a versatile option for diverse trading needs. Nonetheless, both platforms share the same rating of 4.5 stars and close rankings by StockBrokers.com, with tastytrade at #10 and eToro at #11 out of 18 brokers.

Tastytrade's mobile app shines with its flexibility and focus on user customization, providing traders with essential tools such as the ability to view charts in multiple time frames and in landscape mode, crucial for in-depth analysis on mobile devices. The app ensures a seamless trading experience with handy features like mobile after-hours trading and options trading. While it surpasses eToro in watch list customization and after-hours charting, it lags in offering advanced technical studies and stock comparison displays on charts, which could be a consideration for traders who rely on these analytical tools.

In contrast, eToro's trading app is designed to cater to investors who value educational content and advanced analytics. Offering 103 technical studies, eToro provides traders with a robust toolkit for conducting detailed market analysis. Its availability of on-demand videos and stock alerts adds a layer of engagement and empowerment for users looking to stay informed. However, it falls short on some advanced customization features found in tastytrade, such as chart viewing in landscape mode and customization of watch list columns. Despite these differences, traders can expect a reliable and feature-rich experience from either platform, aligning with their unique trading preferences and goals.

Feature tastytrade logotastytrade
eToro logoeToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info No Yes
Charting - After-Hours info Yes Yes
Charting - Technical Studies info 0 103
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2024

Fees

When comparing tastytrade and eToro, tastytrade stands out with its zero-dollar minimum deposit, providing a cost-effective entry point for new investors, whereas eToro requires a minimum deposit of $50. Both platforms offer commission-free trading on regular stock trades. However, eToro charges no fees for options trading and related activities, compared to tastytrade's $0.50 per contract and additional charges for options exercise and assignment. Overall, tastytrade offers competitive pricing for stock traders who don't mind the moderate options fees, whereas eToro might appeal to investors looking for fee-free options trading and a slightly higher barrier to entry.

For those seeking margin trading, tastytrade offers this service with rates that decrease as balances increase, starting from 11% on balances below $25,000 to 10% for amounts between $50,000 and $99,999. eToro, on the other hand, does not offer margin trading, which could be a consideration for traders looking to leverage their trades. When it comes to IRAs, tastytrade imposes a $60 closure fee but no annual fees, while eToro lacks specific IRA options.

Both platforms charge identical fees for account transfer services, with $75 for both partial and full transfers under the ACAT system. While eToro offers opportunities for fee-free trading in certain areas, tastytrade remains an approachable choice for those seeking a low-cost entry point and specific account structures, particularly if margin trading and detailed IRA custodial services are part of their investing strategy.

Feature tastytrade logotastytrade
eToro logoeToro
Minimum Deposit $0.00 $50.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.50 info $0.00
Options Exercise Fee $5.00 $0.00
Options Assignment Fee $5.00 $0.00
IRA Annual Fee $0.00
IRA Closure Fee $60.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2024

Day Trading

When comparing the day trading capabilities of online brokers tastytrade and eToro, several differences stand out. Tastytrade offers features like streaming live TV, which can be particularly beneficial for traders seeking real-time market news, and ladder trading, providing a visual approach to placing orders. Additionally, tastytrade includes a short locator tool, allowing traders to view the real-time availability of shares for short selling, which can be a significant advantage for those seeking to implement short strategies.

eToro, on the other hand, distinguishes itself with its provision of streaming time and sales for stocks, an essential feature for day traders focusing on analyzing transactional data. However, both platforms fall short in several areas that could benefit day traders, such as the absence of direct market routing for stocks, trading hotkeys for quick keyboard trade entries, level 2 quotes, and both basic and advanced strategy backtesting. Neither broker offers order liquidity rebates, which might be a consideration for cost-conscious traders.

Feature tastytrade logotastytrade
eToro logoeToro
Streaming Time & Sales info No Yes
Streaming TV info Yes No
Direct Market Routing - Stocks info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info Yes No

Dive deeper: Best Day Trading Platforms for 2024

Market Research

When considering market research capabilities, both tastytrade and eToro present distinct offerings, each suitable for different types of investors. While eToro takes the lead with a 3-star rating compared to tastytrade's 2.5 stars, the overall difference in rankings among brokers is marginal, with eToro positioned at #12 and tastytrade at #13 according to StockBrokers.com. The choice between these two platforms should be influenced by the specific research features an investor prioritizes.

Tastytrade is equipped with essential research tools, offering both stock and ETF research. Investors benefiting from tastytrade can access insights into portfolio allocation by asset class, a feature not available on eToro. However, tastytrade does lack in several areas such as mutual funds, pink sheets/OTCBB, and bonds research, and it does not provide a stock screener for trade ideas. Unfortunately, tastytrade also falls short in incorporating social media sentiment and ESG (Environmental, Social, and Governance) insights, which may be a drawback for some investors seeking comprehensive market perspectives.

eToro distinguishes itself with innovative research features, particularly by harnessing social media sentiment data and offering ESG research, making it an attractive option for investors with an interest in sustainable and socially responsible investing. However, like tastytrade, eToro does not provide downloadable PDF reports or screeners for stocks, ETFs, or mutual funds. Despite this, eToro's unique research tools and a slightly higher overall rating make it a compelling choice for investors focused on leveraging cutting-edge data to inform their trading decisions.

Feature tastytrade logotastytrade
eToro logoeToro
Research - Stocks info Yes Yes
Screener - Stocks info No No
Research - ETFs info Yes Yes
Screener - ETFs info No No
Research - Mutual Funds info No No
Screener - Mutual Funds info No No
Research - Bonds info No No
Screener - Bonds info No No
Research 2.5/5 Stars 3/5 Stars

Banking

When evaluating the banking capabilities of online brokers tastytrade and eToro, it is clear that neither platform offers traditional banking services. Both tastytrade and eToro do not provide checking accounts, savings accounts, debit or credit cards, or mortgage loans. Additionally, neither platform offers certificates of deposit (CDs). For users seeking comprehensive banking features within their trading platforms, both tastytrade and eToro fall short, focusing solely on trading and investment services without integrating typical banking functionalities.

Feature tastytrade logotastytrade
eToro logoeToro
Checking Accounts info No No
Savings Accounts info No No
Debit Cards info No No
Credit Cards info No No
Mortgage Loans info No No
CDs info No No

Dive deeper: Best Bank Accounts for Trading Stocks for 2024

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that tastytrade is better than eToro. tastytrade finished with an overall score of 84.9%, while eToro finished with a score of 76.7%.

Tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that make you feel like you’re on a trading desk.

FAQs

Can you trade cryptocurrency with tastytrade or eToro?

Both tastytrade and eToro offer crypto trading, but while tastytrade provides access to 4 coins, eToro boasts a more extensive selection with 26 coins available for trading.

Dive deeper: Best Online Brokers for Crypto Trading in 2024

Does tastytrade or eToro offer IRAs?

When comparing tastytrade to eToro, tastytrade offers both traditional and Roth IRA accounts with no annual fees, though it charges a $60.00 closure fee, whereas eToro does not provide IRA accounts at all.

Dive deeper: Best IRA Accounts for 2024

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Compare

0 of 5
Overall Rating tastytrade eToro
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4/5 Stars 2.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 2.5/5 Stars 3/5 Stars
Customer Service 4.0/5 Stars N/A
Education 4/5 Stars 2.5/5 Stars
Ease Of Use 4.5/5 Stars 4/5 Stars
Winner check_circle
Review tastytrade Review eToro Review
Broker Screenshots tastytrade eToro
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees tastytrade eToro
Minimum Deposit $0.00 $50.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info N/A N/A
Mutual Fund Trade Fee N/A info N/A
Options (Per Contract) $0.50 info $0.00
Futures (Per Contract) $1.25 (Not offered)
Broker Assisted Trade Fee $0 $0
Margin Rates tastytrade eToro
Margin Rate Under $25,000 11% Not offered
Margin Rate $25,000 to $49,999.99 10.5% Not offered
Margin Rate $50,000 to $99,999.99 10% Not offered
Margin Rate $100,000 to $249,999.99 9.5% Not offered
Margin Rate $250,000 to $499,999.99 9% Not offered
Margin Rate $500,000 to $999,999.99 8.5% Not offered
Margin Rate Above $1,000,000 8% Not offered
Account Fees tastytrade eToro
IRA Annual Fee $0.00
IRA Closure Fee $60.00
Account Transfer Out (Partial) info $75.00 $75.00
Account Transfer Out (Full) info $75.00 $75.00
Options Exercise Fee $5.00 $0.00
Options Assignment Fee $5.00 $0.00
Investment Options tastytrade eToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info Yes info Yes
OTC Stocks info No No
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info Yes No
Forex Trading info No No
Crypto Trading info Yes Yes
Crypto Trading - Total Coins info 4 26
Mutual Funds (No Load) info 0 0
Mutual Funds (Total) info 0 0
Bonds (US Treasury) info No info No
Bonds (Corporate) info No No
Bonds (Municipal) info No No
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info No No
International Countries (Stocks) info 0 0
Order Types tastytrade eToro
Order Type - Market info Yes Yes
Order Type - Limit info Yes No
Order Type - After Hours info Yes No
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info No Yes
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes No
Beginners tastytrade eToro
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info No No
Education (Bonds) info No No
Education (Retirement) info No No
Retirement Calculator info No No
Investor Dictionary info Yes No
Paper Trading info No Yes
Videos info No Yes
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info Yes No
Interactive Learning - Quizzes info No No
Stock Trading Apps tastytrade eToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes No
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features tastytrade eToro
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No Yes
Stock Alerts info No Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes No
Stock App Charting tastytrade eToro
Charting - After-Hours info Yes Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 0 103
Charting - Study Customizations info No Yes
Charting - Stock Comparisons info No Yes
Trading Platforms tastytrade eToro
Active Trading Platform info tastytrade N/A
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 33 7
Stock Chart Features tastytrade eToro
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 308 46
Charting - Drawing Tools info 31 48
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info No No
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info No Yes
Charting - Study Customizations info 7 5
Charting - Custom Studies info Yes No
Day Trading tastytrade eToro
Streaming Time & Sales info No Yes
Streaming TV info Yes No
Direct Market Routing - Stocks info No No
Ladder Trading info Yes No
Trade Hotkeys info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info Yes No
Order Liquidity Rebates info No No
Research Overview tastytrade eToro
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info No No
Research - Pink Sheets / OTCBB info No No
Research - Bonds info No No
Screener - Stocks info No No
Screener - ETFs info No No
Screener - Mutual Funds info No No
Screener - Bonds info No No
Misc - Portfolio Allocation info Yes No
Stock Research tastytrade eToro
Stock Research - PDF Reports info 0 0
Stock Research - Earnings info No Yes
Stock Research - Insiders info No Yes
Stock Research - Social info No Yes
Stock Research - News info Yes Yes
Stock Research - ESG info No Yes
Stock Research - SEC Filings info No Yes
ETF Research tastytrade eToro
ETFs - Strategy Overview info No Yes
ETF Fund Facts - Inception Date info No No
ETF Fund Facts - Expense Ratio info No No
ETF Fund Facts - Net Assets info No No
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No No
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info No Yes
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research tastytrade eToro
Mutual Funds - Strategy Overview info No No
Mutual Funds - Performance Chart info No No
Mutual Funds - Performance Analysis info No No
Mutual Funds - Prospectus info No No
Mutual Funds - 3rd Party Ratings info No No
Mutual Funds - Fees Breakdown info No No
Mutual Funds - Top 10 Holdings info No No
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info No No
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No No
Options Trading tastytrade eToro
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 20 0
Option Chains - Greeks info 5 4
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking tastytrade eToro
Bank (Member FDIC) info No No
Checking Accounts info No No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info No No
Mortgage Loans info No No
Customer Service tastytrade eToro
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes No
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall tastytrade eToro
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4/5 Stars 2.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 2.5/5 Stars 3/5 Stars
Education 4/5 Stars 2.5/5 Stars
Ease Of Use 4.5/5 Stars 4/5 Stars
Winner check_circle
Review tastytrade Review eToro Review
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