Updated September 29, 2026 · SumCue Editorial Team
eToro vs Monzo
eToro
Higher score in this comparison
Monzo
Where eToro and Monzo differ
| Compare | eToroReviewVisitVisit | MonzoReviewVisitVisit |
|---|---|---|
| Headline rate | 3.8%Higher | 2.75% to 3.5% |
| Minimum deposit | $1 to $10,000 | £0 |
| Deposit protection | EU DGS up to EUR 100,000 | FSCS up to GBP 85,000 |
| Access terms | Interest on USD cash balance, no lock-in, withdraw at any time, calculated daily and paid monthly | Instant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+ |
| Monthly fee | $0 | £0 |
| Account kind | Cash management | Easy access |
| Term | Not confirmed | 12 to 84 months |
| Regulators | Cyprus Securities and Exchange Commission (CySEC), SIPC | Not confirmed |
Same on both: Rate type (Variable).
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Key differences
- eToro scores higher overall: 9.2 vs 9.1.
- Founded is lower at eToro: 2007 vs 2015.
- eToro is licensed in 1 more country.
- Headline rate is higher at eToro: 3.8% vs 2.75% to 3.5%.
- Support channels: only Monzo offers Chat, Phone.
- Pricing model: only eToro offers Commission free.
- Pricing model: only Monzo offers No monthly fee.
Our verdict on each
eToro
eToro suits new investors who want shares, crypto and cash interest in a single app, with an account fee of $0 and a stock trade fee of $0. The catch is the withdrawal fee of $5 flat fee, which makes it a poor fit for anyone moving small sums in and out often.
Monzo
Monzo suits people who want everyday banking, saving and borrowing handled in one app. The current account has a monthly fee of £0, and the savings pot pays 2.75% to 3.5% with withdrawals any time and no limits.
Score breakdown
| Area | eToro | Monzo |
|---|---|---|
| Cost | 9.3Account fee $0 and stock trade fee $0 rank 1 and 1, while withdrawals cost $5 flat fee. | 9.4HigherSavings run on a no monthly fee model with a minimum deposit of £0, and the credit card annual fee is £0. |
| Offer | 8.8 | 9.6HigherLoan types include personal, debt consolidation and car for home improvement, and virtual card and travel come with the account. |
| Trust | 9.2Higher | 8.5 |
A third option
XTB has headline rate at 4%, against 3.8% for eToro and 2.75% to 3.5% for Monzo.
XTB reviewWhat we checked
eToro
- etoro.com: 10 facts, checked September 26, 2026
- esma.europa.eu: 3 facts, checked September 26, 2026
Monzo
- monzo.com: 12 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
How they place
| Ranking | eToro | Monzo |
|---|---|---|
| Savings | 4 of 1492 | 24 of 1492 |
| Savings accounts | 3 of 658 | 15 of 658 |
| Credit and debit cards | 3 of 1594 | 29 of 1594 |
Every fact side by side
| Fact | eToro | Monzo |
|---|---|---|
| Pricing model | Commission free | No monthly fee |
| Legal entity | eToro (Europe) Ltd | Monzo Bank Limited |
| Headquarters | Cyprus | United Kingdom |
| Founded | 2007Lower | 2015 |
| Support channels | Help centre | Chat, Phone, Help centreCovers more |
Crypto exchanges
| Fact | eToro | Monzo |
|---|---|---|
| Taker fee | 1% | Not confirmed |
| Coins listed | from 150 | Not confirmed |
| Fiat deposit methods | Card, Bank | Not confirmed |
| Features | Crypto, Demo account, Fractional shares, Copy trading, Mobile app | Virtual card, Travel |
| Withdrawal fee | $5 flat fee | Not confirmed |
| Derivatives | Yes | Not confirmed |
| Exchange type | Cex | Not confirmed |
Robo-advisors
| Fact | eToro | Monzo |
|---|---|---|
| Management fee | 0% | Not confirmed |
| Minimum investment | $500 | Not confirmed |
| Investor protection | EU ICS up to EUR 20,000 | Not confirmed |
| Account types | ISA | Not confirmed |
| Portfolio types | ETF, ESG, Cash, Crypto | Not confirmed |
Crypto wallets
| Fact | eToro | Monzo |
|---|---|---|
| Wallet type | Mobile | Not confirmed |
| Custody | Custodial | Not confirmed |
Credit cards
| Fact | eToro | Monzo |
|---|---|---|
| Annual fee | Not confirmed | £0 |
| APR | Not confirmed | 29% |
| Currency conversion fee | Not confirmed | 0% |
| Rewards type | Not confirmed | None |
| Credit needed | Not confirmed | Fair |
| Perks | Not confirmed | 0% interest over 3 months on purchases of GBP 100 or more, repeatable, 0% interest if you pay in full, No overseas fees (Mastercard exchange rate only), Section 75 purchase protection, Credit limit up to GBP 10,000, Flex purchases from up to 2 weeks ago, Instant notifications and real time balance updates, Separate paid card: Aura (GBP 15 a month) adds 1% cashback on groceries, 0.5% on everything else uncapped, auto invested cashback, Apple TV, Google AI Plus, 2 airport lounge and 2 fast track passes a year |
| Card kind | Not confirmed | Credit |
| Audience | Beginners | Kids, Business |
Loans
| Fact | eToro | Monzo |
|---|---|---|
| Loan amount | Not confirmed | £10,000 to £35,000 |
| Arrangement fee | Not confirmed | 0 |
| Funding time | Not confirmed | Minutes after approval, into the Monzo account |
| Representative example | Not confirmed | Borrow £4,800 over 36 months, 35 monthly repayments of £181 plus one final payment of £150.99, 20.9% fixed interest rate, 23.0% representative APR, total repay £6,485.99 |
| Lender type | Not confirmed | Direct lender |
| Free early repayment | Not confirmed | Yes |
| Eligibility | Not confirmed | UK residents aged 18+, Monzo Current Account required |
| Loan types | Not confirmed | Personal, Debt consolidation, Car |
| Use cases | Not confirmed | Home improvement |
Where each stands against the rest
| Fact | eToro | Monzo | Median |
|---|---|---|---|
| Headline rate | 3.8%above the median | 2.75% to 3.5%above the median | 3.3% |
| Term | Not confirmed | 12 to 84 monthsabove the median | 60 |
Median across 710 listed providers.
Pros and cons
eToro
Pros
- Interest on the USD cash balance pays 3.8% on a variable basis, calculated daily and paid monthly, and withdrawals are allowed at any time.
- Regulated by Cyprus Securities and Exchange Commission (CySEC) and SIPC, with client asset protection of EU ICS up to EUR 20,000 and deposit protection of EU DGS up to EUR 100,000.
- Minimum deposit $1 to $10,000 and minimum portfolio investment $500 keep the starting point low, and fractional shares are among the listed features.
Cons
- Withdrawal costs $5 flat fee each time, which makes small, regular transfers expensive next to the $0 stock trade fee.
- Client asset protection of EU ICS up to EUR 20,000 sits well below deposit protection of EU DGS up to EUR 100,000, so a large share portfolio can outrun the cover.
- Taker fee 1% sits above the 0.25% median, which matters for anyone trading crypto often rather than holding.
Monzo
Pros
- A monthly fee of £0 on the current account, and a currency conversion fee of 0% across 38 currencies.
- Savings interest is credited monthly, with withdrawals any time and no limits.
- Personal loans of £10,000 to £35,000 are paid out Minutes after approval, into the Monzo account, and early repayment is free.
Cons
- The credit card charges 29% APR and its rewards type is none, so there is nothing to earn back on it.
- Loans ask for a credit rating of fair and only work alongside a Monzo current account.
- ATM withdrawals come with an allowance of £200, the weakest part of the travel offer.
Who each suits
eToro
Who it suits
- New investors, since the audience is listed as beginners and the minimum deposit is $1 to $10,000.
- Investors who want cash and markets together, with USD balance interest at 3.8% alongside stocks, etfs and forex.
- UK savers who want a tax wrapper, since an ISA sits among the isa on offer.
Who should look elsewhere
- bunq, which covers stocks, etfs and crypto and suits anyone who wants shares, ETFs and crypto and can set derivatives aside.
- CFI, for readers who want stocks, etfs and forex and can leave futures aside; eToro is the wider of the two.
- Fiesta Credito MX, which answers to CONDUSEF rather than Cyprus Securities and Exchange Commission (CySEC) and SIPC, for readers trading outside those markets.
Monzo
Who it suits
- People who want spending and saving in one place: the savings account pays 2.75% to 3.5% at a variable rate on an easy access basis.
- Households and small businesses, since the audience covers kids and business and the account includes virtual card and travel.
- People who prefer an app bank with its own regulator: the legal entity is Monzo Bank Limited, based in the United Kingdom.
Who should look elsewhere
- Euro account holders, since bunq charges a monthly fee of €0 on a euro account rather than a UK current account.
- Anyone after a secured card instead of an unsecured rate of 29% APR: Varo Believe Secured Credit Card has a monthly fee of $0.
- Travellers who mainly want a multi currency account: Wise charges 0.1% on conversion, which works on a different basis to a UK debit card.
Current offers
Monzo
Current offer
Free trial
Annual Uber One Membership - 3 month free trial: 3 months free
Included with Monzo Perks and Max subscriptions; Ts&Cs apply
Source, checked September 26, 2026
Bonus
The 2026 Monzo Saving Challenge: Save from 1p to GBP 667.95 and be in with a chance of winning GBP 10,000; 5% AER (variable) paid monthly
Ts&Cs apply; Extra, Perks and Max customers unlock new challenge levels, bigger savings and monthly prize draws
Source, checked September 26, 2026
Country by country
| Country | eToro | Monzo |
|---|---|---|
| United Kingdom | No | Yes |
Questions about each
eToro
What does eToro charge to open and run an account?+
The account fee is $0 and the monthly fee is $0, so the account costs nothing to hold. Stock trades are charged at $0 and the platform describes itself as commission-free. Managed portfolios carry a management fee of 0%. Money moving out is the exception, at $5 flat fee per withdrawal.
Is my money protected at eToro?+
eToro is regulated by Cyprus Securities and Exchange Commission (CySEC) and SIPC. Client assets sit under investor protection of EU ICS up to EUR 20,000, while cash deposits are covered by a separate scheme at EU DGS up to EUR 100,000. These ceilings are very different, so anyone holding a large share portfolio should treat the lower figure as the real limit on recovery.
Monzo
What does it cost to keep the account day to day?+
The current account runs on a monthly fee of £0 and the savings pot takes a minimum deposit of £0. Loans add an arrangement fee of 0, and the credit card has an annual fee of £0, so the holding costs sit at the cheap end.
Is my money protected, and who regulates the bank?+
Deposits sit with Monzo Bank Limited under protection of FSCS up to GBP 85,000, and the bank is licensed by the Prudential Regulation Authority in GB under 730427. Card and cash losses fall outside that protection, and the retail loss rate in our data runs at 70.15%.
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