To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare AvaTrade vs City Index.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. City Index is a better option with a 4.00 star rating over AvaTrade's 3.50 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both AvaTrade and City Index are regulated in a major hub. City Index is a publicly traded company, AvaTrade isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. City Index boasts an offering of 65 different currency pairs compared to AvaTrade's 60 available pairs.
To round out our comparison of AvaTrade vs City Index, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. AvaTrade alongside City Index offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Both brokers offer clients access to the same number of charting tools, 31. AvaTrade and City Index offer the same number of indicators (eg, volume), 51.
Overall, City Index comes out on top with 4.50 stars over AvaTrade's 3.50 stars. And, when it comes to individual category awards, both AvaTrade and City Index found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018.