AvaTrade and eToro are two well-established online brokers that offer a wide range of trading instruments, competitive spreads, and user-friendly trading platforms. Both brokers cater to traders of all levels, from beginners to experienced professionals. However, there are some key differences between the two brokers that may make one a better choice for you than the other.
Regulation and Security
Both AvaTrade and eToro are regulated by reputable financial authorities. AvaTrade is regulated by six tier-1 financial authorities, including the Financial Services Authority (FSA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), and the Central Bank of Ireland (CBI). eToro is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
Trading Instruments
AvaTrade offers a wider range of trading instruments than eToro. AvaTrade offers over 12,500 trading instruments, including forex pairs, stocks, indices, commodities, and cryptocurrencies. eToro offers over 3,000 trading instruments, including forex pairs, stocks, indices, and cryptocurrencies.
Trading Platforms
AvaTrade offers three primary trading platforms: AvaTradeGO, MetaTrader 4, and MetaTrader 5. AvaTradeGO is the broker's proprietary web-based platform, designed for both beginners and experienced traders. MetaTrader 4 and MetaTrader 5 are industry-standard trading platforms renowned for their robust charting capabilities, extensive trading tools, and the ability to implement automated trading strategies.
eToro offers a single proprietary trading platform. The eToro platform is user-friendly and offers a variety of features, including social trading capabilities, which allow traders to copy the trades of other successful traders.
Fees and Spreads
AvaTrade's spreads are competitive, starting from as low as 0.9 pips for major forex pairs. The broker does not charge commissions on trades. eToro's spreads are also competitive, starting from as low as 1 pip for major forex pairs. eToro does not charge commissions on trades for stocks and ETFs, but it does charge a small fee for cryptocurrency trades.
Educational Resources
Both AvaTrade and eToro offer a variety of educational resources to support traders of all levels. AvaTrade's AvaTrade Academy offers a comprehensive range of educational materials, including webinars, seminars, e-books, and video tutorials. eToro's education center offers a variety of educational resources, including articles, videos, and webinars.
Customer Support
Both AvaTrade and eToro offer 24/7 customer support in multiple languages. AvaTrade offers customer support via phone, email, and live chat. eToro offers customer support via email and live chat.
User Feedback
Both AvaTrade and eToro have positive feedback from users. AvaTrade has a Trust Score of 94 out of 99 on ForexBrokers.com. eToro has a Trust Score of 88 out of 99 on ForexBrokers.com.
Conclusion
AvaTrade and eToro are both reputable brokers with a wide range of features to offer traders. The best broker for you will depend on your individual needs and preferences. If you are looking for a broker with a wide range of trading instruments, competitive spreads, and user-friendly trading platforms, then AvaTrade is a good option. If you are interested in social trading or are looking for a broker with a strong focus on education, then eToro may be a better choice.
