Home Brokers comparison AvaTrade Vs. eToro

AvaTrade Vs. eToro

529
0
Regal Wallet Banner

Is eToro better than AvaTradeOver the past 5 months, we tested the top 30 forex brokers, and these two kept coming to the top of the list. But which is better? From our evaluation, eToro comes out on top in 2020 because of its industry-leading copy-trading features for the more than 1,900 instruments they offer (including cryptocurrencies and CFDs). For all its strengths, eToro is on the pricier side.

All trading involves risk. More than 75% of investors lose money in Forex and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

avatrade-logoetoro-logo
High Bonuses, Now With Low Spreads!Free Social Trading and Low Fees

Overall Rating

FeatureAvaTradeeToro
Overall⭐️⭐️⭐️⭐️⭐️⭐️⭐️
AvaTrade RevieweToro Review
71% of retail CFD accounts lose money75% of retail CFD accounts lose money

Regulation

FeatureAvaTradeeToro
Trust Score9391
Year Founded20062007
Publicly Traded (Listed)🚫🚫
Bank🚫🚫
Tier-1 Licenses22
Tier-2 Licenses11
Tier-3 Licenses00
Authorized in the European Union

All trading involves risk. More than 75% of investors lose money in Forex and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Tier-1 Licenses

FeatureAvaTradeeToro
ASIC Authorized (Australia)
IIROC Authorized (Canada)🚫
SFC Authorized (Hong Kong)🚫🚫
FSA Authorized (Japan)🚫
MAS Authorized (Singapore)🚫🚫
FINMA Authorized (Switzerland)🚫🚫
FCA Authorized (UK)🚫
CFTC Registered (USA)🚫🚫

Investments

FeatureAvaTradeeToro
Forex: Spot Trading
Social Trading / Copy-Trading
Currency Pairs (Total Forex pairs)6047
CFDs – Total Offered6811980
Cryptocurrency traded as actual🚫
Cryptocurrency traded as CFD
Offering of Investments⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Cost

FeatureAvaTradeeToro
Average Spread EUR/USD – Standard0.92 (as of Mar 2020)3 (Mar 2020)
All-in Cost EUR/USD – Active0.62 (Mar 2020)N/A
Active Trader or VIP Discounts
Commissions & Fees⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Funding

FeatureAvaTradeeToro
Minimum Initial Deposit$100$200
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)

Trading Platforms

FeatureAvaTradeeToro
Proprietary Platform
Desktop Platform (Windows)🚫
Web Platform
Social Trading / Copy-Trading
MetaTrader 4 (MT4)🚫
MetaTrader 5 (MT5)​✅​🚫
cTrader🚫🚫

Trading Tools

FeatureAvaTradeeToro
Virtual Trading (Demo)
Alerts – Basic Fields
Watchlists – Total Fields06
Charting – Indicators / Studies (Total)2366
Charting – Drawing Tools (Total)3113
Charting – Trade From Chart​✅​🚫
Charting – Drawings Autosave​✅
Order Type – Trailing Stop​✅​✅
Platform & Tools⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner​✅

Mobile Trading

FeatureAvaTradeeToro
Android App
Apple iOS App
Trading – Forex
Trading – CFDs
Alerts – Basic Fields🚫🚫
Watch List🚫
Watch List Syncing🚫
Charting – Indicators / Studies935
Charting – Draw Trend Lines​🚫​🚫
Charting – Trend Lines Moveable​✅🚫
Charting – Multiple Time Frames​✅
Charting – Drawings Autosave🚫🚫
Forex Calendar🚫🚫
Mobile Trading⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Research

FeatureAvaTradeeToro
Daily Market Commentary
Forex News (Top-Tier Sources)🚫🚫
Weekly Webinars🚫​🚫
AutoChartist🚫
Trading Central (Recognia)🚫🚫
Delkos Research🚫🚫
Social Sentiment – Currency Pairs🚫
Economic Calendar
Research⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Education

FeatureAvaTradeeToro
Has Education – Forex
Has Education – CFDs🚫🚫
Client Webinars🚫
Client Webinars (Archived)🚫
Videos – Beginner Trading Videos
Videos – Advanced Trading Videos
Investor Dictionary (Glossary)
Education⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Major Forex Pairs

FeatureAvaTradeeToro
GBP/USD
USD/JPY
EUR/USD
USD/CHF
USD/CAD
NZD/USD
AUD/USD

Overall

FeatureAvaTradeeToro
AvaTrade RevieweToro Review
Overall⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Side-by-side comparisons of forex brokers is not a simple task to perform. Preparing for this annual broker review took hundreds of hours of research, testing, and direct communication with each of the 30 brokers.

Lowest Priced Broker

While this seems like it should be an easy question to answer, it isn’t. Forex and CFD brokers are notoriously vague about the details of their fees and pricing structures.

To gauge the real costs, we opened the same series of positions at both brokers and compared the total fees charged. In our comparison, AvaTrade came out the winner with lower overall pricing for traders.

Safest Broker

Without question, the most important question when choosing a broker is the safety of your funds. At Business24, we accessed 21 international regulator databases to track each CFD and forex broker. Would you like to know what we found out?

eToro holds 2 global Tier-1 licenses, while AvaTrade holds 3. eToro holds 1 global Tier-2 licenses, while AvaTrade holds 3. When the quality of each regulator is considered and averaged together, eToro earns a Reliability Score of 91% while AvaTrade earns a Reliability Score of 93%.

Best Trading Platform

eToro-financial.instruments

This is another difficult question to answer, as there are so many factors to consider when comparing trading platforms. But across the three main areas of mobile apps, research capabilities, and trading tools, eToro provides a better experience each time. That means, based on our evaluation, that eToro has a better trading platform.

However, if you are a trader who requires the use of MetaTrader 4 because of your trading style or other factors, then AvaTrade is the better broker for you. eToro does not offer MetaTrader 4.

Copy Trading

Both AvaTrade and eToro offer social trading for both forex and CFDs.

Most Complete Offering

The answer to this question depends on your trading focus and style. eToro offers 47 currency pairs (e.g., USD/EUR), compared to AvaTrade’s 60 currency pairs. So, if you focus on trading the largest number of currency pairs possible, then AvaTrade is your best option. However, AvaTrade only offers 681 CFDs, while eToro provides access to over 1,980 CFDs. That means you have nearly 1,300 more CFD possibilities with eToro!

Verdict

eToro-overview

Based on our research, evaluation, and testing, eToro is the better forex broker.

eToro compared to other brokers:

eToro review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleIs Interactive Brokers Good For Beginners?
Next articleIs Interactive Brokers a Legitimate Broker?
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here