Our ForexBrokers.com team spent seven months and hundreds of hours assessing 20 different forex broker accounts
for trading FX. In total, over 5,000 data points were collected. For this review, we will compare AvaTrade vs eToro.
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. AvaTrade received a rating of 3.00 stars over eToro's 2.50 stars.
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 eToro both are regulated in a major hub. AvaTrade nor eToro are publicly traded companies. How many currency pairs are available to trade? eToro trails AvaTrade by 12 total currency pairs (for example, EUR/USD), with AvaTrade offering 59 and eToro offering 47.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. AvaTrade offers Meta Trader while eToro does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. AvaTrade offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. eToro offers its clients access to 67 different indicators (for example, volume) while AvaTrade has 51 available indicators, a difference of 16.
Overall, eToro boasts 4.00 stars versus AvaTrade's 3.50 stars. And, when it comes to individual category awards, eToro finished with awards Best in Class - Customer Service in 2017, while AvaTrade came up with none of these.