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 AxiTrader vs eToro.
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. Both AxiTrader and eToro share a rating of 3.50 stars.
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. AxiTrader and eToro both are regulated in a major hub. Neither are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. eToro trails AxiTrader by 6 total currency pairs (for example, EUR/USD), with AxiTrader offering 53 and eToro offering 47.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. AxiTrader offers Meta Trader while eToro does not. 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. AxiTrader boasts an offering of 31 charting tools compared to eToro's 14 available charting tools. AxiTrader trails eToro by 15 total different indicators (for example, moving averages), with eToro offering 66 and AxiTrader offering 51.
Overall, eToro boasts 4.00 stars versus AxiTrader's 3.50 stars. And, when it comes to individual category awards, eToro posted awards Best in Class - Customer Service in 2018, while AxiTrader found itself with none of these.