Compare Spread Co Vs AvaTrade: Which is the Better Forex Broker in 2023?

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An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Users are offered the opportunity to trade at good conditions. There is also a social trading option and no hidden fees. After all, traders get a good education with thisbroker. Clearly, we can say AvaTrade wants its traders to succeed. Traders can open their trading accounts within seconds.It is no rocket science to open an account with AvaTrade.

customer support

We do not provide financial advice, offer or make solicitation of any investments. AvaTrade does not provide customer support on Saturday and Sunday. The reason is, AvaTrade offers cryptocurrency trading which is 24/7.

Author of this review

AvaTrade is primarily focused on the trader’s experience, combined with the strong financial backing and award-winning customer service available in 14 languages 24/5. I have always found their support team to be quick to respond and answer all my question in a helpful manner. The broker is headquartered in Dublin, Ireland, with regional offices throughout the world including Australia, South Africa, China, Japan, France, Spain and Italy.

That means the broker uses multiple banks and does not use the client’s money for hedging or investing. If you choose the European regulator “Central Bank of Ireland” you will get an ICCL Investor Compensation Company Ltd. with a more than 20,000€ money guarantee. No matter which regulator you will choose, your account is protected by negative balance protection. Forex and CFD are trading with leveraged financial products.

Account opening

AvaOptions gives you total control over your portfolio, letting you balance risk and reward to match your market view. Many traders use a VPS to run their trading platforms 24/7. Blueberry Markets offer a Free VPS to clients who meet a certain trading volume if automated trading is something of interest to you. Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary.

The services provided by this broker include Forex trading, CFD trading derivatives trading and cryptocurrency trading. AvaTrade holds regulatory licenses in multiple financial hubs across the globe. While not directly regulated in Canada, AvaTrade caters to clients in the country through its partnership with Friedberg Direct, which required regulatory approval. The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. Avatrade, which was established in 2006, allows its clients to trade Derivatives, Currency futures, and cryptos.

Metatrader 4 platformAvaTrade offers both versions of the MetaTrader. You can download and install the MetaTrader 4/5 after you created your trading account. It is a very popular trading platform because it has all the functions you need for professional trading. The broker also provides plenty of trading tools and educational materials free of charge whilst the customer support team are available to answer any questions in a prompt and friendly manner. Their award-winning customer service representatives are ready to assist with any trading issue you may have. This might not be an issue if you prefer to learn by yourself, but can be a great option if you need a little professional guidance along the way.

We also compared AvaTrade’s fees with those of two similar brokers we selected, XM and Admirals . This selection is based on objective factors such as products offered, client profile, fee structure, etc. First, let’s go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. Deposits and withdrawals are free, but inactivity fees are quite high.

Portfolio and fee reports

The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. They may request verification documentation as they are dedicated to providing a reliable service and safe trading environment that is within all regulations. This helps give traders the peace of mind that their personal information and funds are secure at all times.

Based on our thorough annual assessment, AvaTrade offers better pricing overall for traders. Yes, your money is as safe with AvaTrade as it would be with any online broker that is globally regulated in top-tier jurisdictions and authorized to hold its client’s funds. AvaTrade is trusted by over 400,000 customers with millions of dollars in deposits.

range of trading

Traders also enjoy exclusive access to video tutorials, eBooks, economic indicators and the Sharp Trader academy, which can help them polish their trading strategies and abilities. Clients can also register for regular webinars hosted by AvaTrade professionals that cover all important aspects of trading. For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both AvaTrade and HYCM offer MetaTrader 4 .Copy trading is not offered by either broker.

The product range is limited to avatrade broker, CFDs and cryptos, and there is a high fee charged for inactivity. Lastly, there are better alternatives if forex trading fees are your main concern. The fee structure is very transparent and trading costs are easy to calculate. However, if fee levels for forex pairs are your most important consideration, then there may be better alternatives. In the sections below, you will find the most relevant fees of AvaTrade for each asset class.

Nowadays mobile trading is important for any trader to react to the news or special events. AvaTrade offers mobile versions for their trading platforms and a special mobile app for trading . For example, the MetaTrader 4 and AvaOptions are available for any device.

Most could probably make do with the tools already included with the platforms but it is nice to have more available. I always like to experiment with new tools to see if they can help improve my trading strategies. Every so often, you find one that is worth keeping and using on a frequent basis. If you just want to trade forex and are not too fussed about complex market analysis, then MT4 should be more than adequate.

That said, AvaTrade continues to make incremental improvements in this category, and provides a generally well-rounded suite of apps. Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Opinions, market data, and recommendations are subject to change at any time.

For example, it took us a while to figure out how to add an asset to the watchlist. However, it’s not customizable; for example, you can’t change the size and position of the tabs. In this review, we tested WebTrader, MetaTrader 4 and AvaOptions, as these are the most popular among customers. Our scoring and Pro/Con list are based on our assessment of the WebTrader platform. Clients from almost all countries are accepted by AvaTrade, with some exceptions including the US, Canada, Belgium or Iran. AvaTrade operates under a different brand, Atrade in Israel, though we have not tested their services.

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Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms. We recommend AvaTrade for forex and cfd traders looking for an option to use metatrader platforms.

DupliTrade is an MT4 compatible platform which allows traders to automatically copy trading strategies in real time according to their risk preference and trading style. It has a user-friendly interface that makes it easy to build and manage a trading portfolio whilst gaining valuable insights into other trading strategies. Amongst the unique trading features within the AvaTradeGO platform, you can see your trades at a glance, create your own watch lists, and view live prices and charts.

You can express your market view with calls and puts, and use the embedded tools to help try and maximise your return. There are more than 40 forex options and more for any combination of call and put options in one account to create your optimal portfolio. Execute straddles, strangles, risk reversals, spreads, and other strategies.

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