AvaTrade vs FxPro: Comparison and Analysis

AvaTrade vs FxPro: A Comprehensive Compariso

When it comes to choosing a broker, investors often consider factors such as security, demo accounts, account opening requirements, social-copy trading, markets offered, trading fees, platforms, education and customer care. In this comparison, we will analyse and contrast AvaTrade and FxPro based on these factors.

Security

Both brokers have strong security measures in place, with AvaTrade being regulated by ASIC, FSCA, CBI, IIROC, JFSA and BVI, while FxPro is regulated by FCA, CySEC, FSCA and SCB. Additionally, FxPro has a slightly higher security rating of 95, compared to AvaTrade’s rating of 94.

Demo Account

AvaTrade offers a 21-day demo account with virtual funds of $10,000, which can be restored by contacting customer support. In contrast, FxPro offers a longer demo account period of 180 days, with virtual funds of $100,000, which can be restored directly from the FxPro Direct dashboard.

Account Opening

Both brokers have a minimum deposit requirement of $100 and accept a range of payment methods, including wire transfers, credit/debit cards, and eWallets. AvaTrade offers a wider selection of account types, including standard, spread betting, Islamic, and professional accounts, whereas FxPro offers MT4, MT5, cTrader, and VIP accounts, as well as a spread betting account for UK traders.

Social-Copy Trading

AvaTrade offers social-copy trading via third-party platforms ZuluTrade and DupliTrade, as well as through its own proprietary platform AvaSocial. In contrast, FxPro does not offer any social-copy trading features.

Markets

AvaTrade offers a more extensive range of markets, with 53 forex pairs, 19 commodities, 31 indices, 20 cryptocurrencies, 610+ stocks, 60+ ETFs, and 54+ futures and options. FxPro offers 70+ forex pairs, 15 commodities, 18 indices, 28 cryptocurrencies, 2000+ stocks, and 22 futures and options. Both brokers offer only CFDs and are suitable for short-term investors.

Trading Fees

AvaTrade charges fixed spreads, with a starting point of 0.9 pips on forex, which is higher than the market average. In contrast, FxPro charges both variable and fixed spreads, with variable spreads starting from 0.1 pips on forex (lower than the market average) and fixed spreads starting from 1.6 pips on forex (higher than the market average).

Platforms

Both brokers offer MetaTrader 4 and 5, as well as their own proprietary platforms. AvaTrade also offers AvaOptions for trading options and AvaSocial for social-copy trading, while FxPro offers cTrader in addition to its own FxPro EDGE platform. AvaTradeGo is the mobile app for AvaTrade, while FxPro offers both a mobile app and a web trader.

Education/Customer Care

AvaTrade has a strong offering of educational materials, with a focus on beginner traders and in-depth webinars for professional traders. Customer care is available in over 25 languages, with easy access via phone, email, and live chat. In contrast, FxPro has limited educational resources, with basic video tutorials and PDF guides for beginners and few resources for professionals. However, customer care is available in over 30 languages and is easily accessible via phone, email, and live chat.

Conclusion

Overall, both AvaTrade and FxPro have their strengths and weaknesses, and the choice between them ultimately depends on an investor’s priorities. AvaTrade has a wider range of markets, more account types, and stronger educational resources. On the other hand, FxPro offers a longer demo account period, a wider range of trading platforms, lower variable spreads, and more available stocks. Both brokers have strong security measures in place and offer reliable customer care. Ultimately, investors should carefully consider their priorities and choose the broker that best suits their needs.