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 eToro.
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. Both AvaTrade and eToro share a rating of 3.50 stars.
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. AvaTrade and eToro both are regulated in a major hub. Neither are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. AvaTrade offers its clients access to 60 different currency pairs while eToro has 47 available pairs, a difference of 13.
To round out our comparison of AvaTrade vs eToro, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. AvaTrade offers Meta Trader while eToro does not. 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. AvaTrade offers its clients access to 31 charting tools while eToro has 14 charting tools, a difference of 17. AvaTrade trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and AvaTrade offering 51.
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 2018, while AvaTrade came up with none of these.