Alex Manea
Investing can be a rewarding endeavor. As with every venture, the process is cumbersome, especially for beginners. With many brokers now available online, one of the first challenges that new investors must pass is selecting a broker. eToro and Nordnet and two of the best online brokers with many similarities and important differences. But, do you know which solution would suit you best? Read our eToro vs Nordnet review to know the distinct features of each company and which is best for your investment needs.
eToro is a leading social investment network that aims to enhance investors' financial education and improve how people invest. The multi-asset investment platform is built on social collaboration – a community where users can connect, share, and learn. Established in 2006, the Israeli company offers securities trading to customers in major parts of the world.
Open an account and start investing in thousands of stocks, ETFs, commodities and cryptocurrencies.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Nordnet is a Swedish company established in 1996 to allow customers in Finland, Denmark, Sweden, and Norway access to trading financial instruments. With headquarters in Stockholm, the company has business areas in savings and investments, pensions, and loans. Nordnet has a digital platform for investment and savings that customers can use to save and invest in stocks, mutual funds, and other securities at reasonable prices.
Open an account and take advantage of all the features Nordnet offers.
eToro
Nordnet
Nordnet customers don't need to pay opening or storage fees on their portfolios. In other words, the price of a customer's subscription is € 0. The platform has 4 price levels and as a new customer, you can trade for at least the first two full months at the level one price list.
eToro
eToro offers the following assets:
Nordnet
Nordnet offers the following assets:
eToro and Nordnet are at the same level as far as licensing is concerned. Both companies are licensed by the Norwegian Financial Supervisory Authority to carry out cross-border activities. eToro Europe is regulated by the Cyprus Securities and Exchange Commission. It is also regulated by the Financial Conduct Authority in the UK. On the other hand, Nordnet is supervised by Finansinspektionen in Sweden.
The following are subordinate services both companies are licensed to offer:
eToro
Nordnet
The Financial Undertakings Act § 3-2, cf. § 2-7: This covers lending activities, receipts of deposits and other funds to be repaid, money market instruments, guarantees and collateral, and currency. It also includes financial forward contracts and options, negotiable securities, currency and interest rate instruments, depot business, portfolio management, and participation in share issues.
Both eToro and Nordnet have a good user interface and design. eToro offers an overview of CFDs and stocks you follow, and there is a menu on the side that grants quick access to your portfolio, market news, deposit, settings, and withdrawal. Nordnet also has a menu at the top of the screen that shows your pages, market and stock exchange, and customer services. Plus, the platform offers an overview of all sub-indices and the main index.
eToro provides statistics on how customers traded, and Nordnet allows you to scroll to see a list of traders and the shares they traded the most. So, both platforms are equal as far as user interface and design are concerned.
Nordnet
You can buy an additional program on Nordnet for technical analysis. You can also add moving averages, RSI, MACD, Bollinger Bands, and a few other indicators. However, you can't draw support and resistance, trends, and formations. However, they do not offer fundamental analysis.
eToro
You can open share prices in charts on eToro, and the technical analysis program is free. You can also choose different chat layouts and settings, and draw technical formations, trend lines, and support and resistance. Also, it offers RSI, floating moving averages, MAC, and a few other indicators. Unlike Nordnet, eToro offers free fundamental analysis for some shares.
As you can see, both platforms offer the same customer service with a few variations of 24/7 chat and an accessible phone number. So, bear in mind that Nordnet's customer service is not available on weekends and that eToro does not offer telephone support. Again, a draw.
eToro does not charge brokerage fees, but Nordnet does. In other words, when you trade on eToro, you won't pay a commission to sell shares, CFDs, and listed funds. The only price you will pay is the spread.
On the other hand, Nordnet charges a commission for their different brokerage classes. It ranges from € 3 to € 9. If you add spread to this figure, you will discover that Nordnet is more expensive to use than eToro.
eToro offers more investment options than Nordnet. Although both platforms offer access to ETF/ETN and stocks, you can trade stocks on eToro from any part of the world. This includes American and European stocks, Norwegian stocks, and Chinese stocks. In contrast, Nordnet only offers access to trading American, European, and Norwegian shares.
eToro USA LLC does not offer CFDs, only real Crypto assets available.
If you want to trade options, warrants, and funds, choose Nordnet. But if you wish to trade cryptocurrencies and CFDs on currencies, cryptocurrencies, commodities, indices, and access shares from any part of the world, choose eToro.
If our Nordnet vs eToro has revealed anything, it is that they are both great investment platforms. Both companies are licensed and secured to guarantee the safety of your funds. However, eToro is more user-friendly, charges less fee, and offers better customer support and technical analysis tools.
If you're not sure any of these 2 is a good match for you, use our brokerage comparison tool to find the best investment platform for your needs. Try it now!
