The direct use of ethanol in fuel cells presents unprecedented economic, technical, and environmental opportunities in energy conversion. However, complex challenges need to be resolved. For instance, ethanol oxidation reaction (EOR) requires breaking the rigid C–C bond and results in the generation of poisoning carbonaceous species. Therefore, new designs of the catalyst electrode are necessary. In this work, two trimetallic PdxAgyNiz/C samples are prepared using a facile borohydride reduction route. The catalysts are characterized by X-ray diffraction (XRD), Energy-Dispersive X-ray spectroscopy (EDX), X-ray photoelectron Spectroscopy (XPS), and Transmission Electron Microscopy (TEM) and evaluated for EOR through cyclic voltammetry (CV), chronoamperometry (CA), and electrochemical impedance spectroscopy (EIS). The XRD patterns have shown a weak alloying potential between Pd, and Ag prepared through co-reduction technique. The catalysts prepared have generally shown enhanced performance compared to previously reported ones, suggesting that the applied synthesis may be suitable for catalyst mass production. Moreover, the addition of Ag and Ni has improved the Pd physiochemical properties and electrocatalytic performance towards EOR in addition to reducing cell fabrication costs. In addition to containing less Pd, The PdAgNi/C is the higher performing of the two trimetallic samples presenting a 2.7 A/mgPd oxidation current peak. The Pd4Ag2Ni1/C is higher performing in terms of its steady-state current density and electrochemical active surface area.