Overall Ratings
Company Info
Leverage
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Brand Power
Deposit and Withdrawal
Costs and Fees
Account Types
Commodities
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Platforms
Mobile Trading
Available Markets
Trading Execution
Risk Management
Special Trading Conditions
Available Trading Techniques
Trading Tools
Education
Customer Support
Research
AvaTrade vs FXCM: A Comparison Summary
When choosing a forex broker, it is important to compare the features of different brokers to find the one that best suits your trading needs. In this comparison summary, we will take a look at AvaTrade and FXCM, two well-known forex brokers.
Security
Both AvaTrade and FXCM are highly regulated by several top-tier financial authorities. AvaTrade is regulated by ASIC, FSCA, CBI (Ireland), IIROC, JFSA, and BVI (British Virgin Island), while FXCM is regulated by FCA, ASIC, FSCA, CySEC, ISA, and IIROC. Both brokers have a security rating of 94, indicating a high level of security and trustworthiness.
Demo Account
AvaTrade offers a demo account with a duration of 21 days and virtual funds of $10,000. The virtual funds can be restored by contacting the customer support. On the other hand, FXCM offers an unlimited demo account with virtual funds of $50,000. Multiple demo accounts can be opened with the same email address.
Account Opening
AvaTrade requires a minimum deposit of $100, and it offers different account types, including a standard account, spread betting account for UK account, Islamic account, and professional account for advanced traders. FXCM requires a minimum deposit of $50 for non-EU clients and $300 for UK and EU clients. It offers different account types, including a standard account, Islamic account, spread betting account, corporate account, and professional account.
Social-Copy Trading
Both AvaTrade and FXCM offer social-copy trading through third-party platforms such as ZuluTrade. In addition, AvaTrade offers its own proprietary platform called AvaSocial.
Markets
AvaTrade offers a wide range of markets, including forex, commodities, indices, crypto assets, stocks, ETFs, and futures and options. FXCM offers a more limited selection of markets, including forex, commodities, indices, crypto, and stocks. Both brokers only offer CFDs and are more suitable for short-term investors.
Trading Fees
AvaTrade offers fixed spreads, starting from 0.9 pips on forex, which are higher than the market average. On the other hand, FXCM offers variable spreads, starting from 1.3 pip on forex, which are also above the market average. However, FXCM offers zero commission on shares, while AvaTrade charges a commission on shares.
Platforms
AvaTrade offers its own proprietary platform, MetaTrader 4 (MT4), and MetaTrader 5 (MT5) through desktop, web, and mobile. It also offers AvaTradeGo, a mobile app for Android and iOS, and AvaOptions, a platform for trading options. FXCM offers its own proprietary platform, Trading Station, as well as MetaTrader 4 (MT4) through desktop, web, and mobile.
Education/Customer Care
Both AvaTrade and FXCM offer a range of education materials, including trading guides, research sections, and FAQs. AvaTrade also offers in-depth webinars for professional traders, while FXCM offers customer care via phone, email, and live chat.
Conclusion
In summary, both AvaTrade and FXCM are highly regulated forex brokers with a security rating of 94. They offer social-copy trading, education materials, and different account types. AvaTrade offers a wider range of markets, a shorter demo duration, and a higher minimum deposit. FXCM offers an unlimited demo duration, a lower minimum deposit for non-EU clients, and zero commission on shares. Ultimately, the choice between the two brokers will depend on your individual trading needs and preferences.
