After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare AvaTrade vs City Index.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. City Index is a better option with a 4.5 star rating over AvaTrade's 3.5 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Both AvaTrade and City Index are regulated in a major hub. City Index is a publicly traded company, while AvaTrade is not. As far as how many currency pairs are available for trading, here's the answer. City Index boasts an offering of 84 different currency pairs compared to AvaTrade's 60 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. AvaTrade and City Index both offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. AvaTrade offers its clients access to 31 charting tools while City Index has 25 charting tools, a difference of 6. City Index boasts an offering of 139 different indicators (for example, moving averages) compared to AvaTrade's 51 available indicators.
Overall, City Index takes the upper hand with 4 stars over AvaTrade's 3 stars. And, when it comes to individual category awards, neither AvaTrade nor City Index were rated 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.