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 Interactive Brokers.
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. Interactive Brokers 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 Interactive Brokers both are regulated in a major hub. Interactive Brokers is a publicly traded company, while AvaTrade is not. How many currency pairs are available to trade? AvaTrade trails Interactive Brokers by 55 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 115 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. AvaTrade offers Meta Trader while Interactive Brokers 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 Interactive Brokers has 9 charting tools, a difference of 22. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while AvaTrade has 51 available indicators, a difference of 70.
Overall, Interactive Brokers takes the upper hand with 4.50 stars over AvaTrade's 3.50 stars. And, when it comes to individual category awards, unfortunately, neither AvaTrade nor Interactive Brokers received awards 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.