Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare AvaTrade vs City Index.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. City Index is a better option with a 4.00 star rating over AvaTrade's 3.50 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. AvaTrade and City Index both are regulated in a major hub. City Index is a publicly traded company, while AvaTrade is not. How many currency pairs are available to trade? AvaTrade trails City Index by 24 total currency pairs (for example, EUR/USD), with City Index offering 84 and AvaTrade offering 60.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both AvaTrade and City Index offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. City Index trails AvaTrade by 6 total charting tools, with AvaTrade offering 31 and City Index offering 25. City Index offers its clients access to 139 different indicators (for example, volume) while AvaTrade has 51 available indicators, a difference of 88.
Overall, City Index boasts 4.50 stars versus 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.