AvaTrade vs IG Markets: Comparison and Analysis

AvaTrade vs IG Markets: A Comprehensive Comparison

When choosing a broker for online trading, it’s important to consider various factors, such as security, demo accounts, account opening, social-copy trading, markets, trading fees, platforms, education, and customer care. In this comparison summary, we will compare two popular brokers, AvaTrade and IG Markets, based on these factors.

Security

Both AvaTrade and IG Markets are highly regulated by multiple authorities in different countries, which indicates a high level of security and reliability. However, IG Markets has a higher security rating of 98 compared to AvaTrade’s 94.

Demo Account

AvaTrade offers a demo account with virtual funds of $10,000 for 21 days, while IG Markets provides an unlimited demo account with virtual funds of $30,000. AvaTrade’s demo account can be restored by contacting customer support, while IG Markets also offers this feature.

Account Opening

AvaTrade’s minimum deposit requirement is $100, and it supports multiple account currencies and payment methods, including wire transfers, credit/debit cards, and eWallets. It offers different account types to cater to different types of traders, including standard, spread betting, Islamic, and professional accounts. On the other hand, IG Markets requires a minimum deposit of $300 for most countries, offers limited account currencies, and supports similar payment methods as AvaTrade. It offers standard, limited risk, spread betting, option, turbo24, share dealing, Islamic, professional, and select accounts.

Social-Copy Trading

AvaTrade offers social-copy trading through third-party platforms ZuluTrade and DupliTrade, as well as its proprietary platform AvaSocial. IG Markets, on the other hand, does not offer social-copy trading.

Markets

AvaTrade offers 53 forex pairs, 19 commodities, 31 indices, 20 crypto assets, 610+ stocks, 60+ ETFs, and 54+ futures and options, all as CFDs. On the other hand, IG Markets offers a wider range of markets, including 90 forex pairs, 35 commodities, 80+ indices, 12 crypto assets, 16,000+ stocks, 5,400+ ETFs, and 30+ futures and options, with shares, ETFs, and investment trusts available as both CFDs and real assets. While AvaTrade is more suitable for short-term investors, IG Markets caters to both short-term and long-term investors.

Trading Fees

AvaTrade’s spreads are fixed, with the minimum spread starting from 0.9 pips on forex, which is higher than the market average. IG Markets’ spreads are variable, with the minimum spread starting from 0.6 pips on forex, which is in line with the market average. IG Markets also offers commission-free trading on real US stocks for certain traders.

Platforms

Both AvaTrade and IG Markets offer a range of trading platforms, including their proprietary platforms, AvaTradeGo and L2 Dealer, respectively, as well as MetaTrader 4 (MT4) and ProRealTime. AvaTrade’s platform is available via web, desktop, and mobile, while IG Markets’ platform is available via web and desktop.

Education/Customer Care

Both AvaTrade and IG Markets provide extensive educational materials, but AvaTrade focuses more on beginner traders, while IG Markets offers resources suitable for every trader, including a dedicated Academy App. Both brokers offer easy-to-contact customer support via phone, email, and live chat, with multiple available languages. However, AvaTrade supports over 25 languages, while IG Markets supports over 13.

Conclusion

In conclusion, both AvaTrade and IG Markets are reputable brokers with their strengths and weaknesses. AvaTrade is more suitable for short-term investors due to its focus on CFDs and social-copy trading options, as well as its strong offering for beginner traders. IG Markets, on the other hand, caters to both short-term and long-term investors with its wider range of markets, including real assets, and lower trading fees. It also has a higher security rating and offers commission-free trading on real US stocks for certain traders. Ultimately, the choice between AvaTrade and IG Markets depends on the trader’s specific needs and preferences.