eToroReview

Compare eToro Vs. AvaTrade: What is the Best Broker in 2020?

eToro

eToro was founded in 2007 and is regulated in two-tier and one tier jurisdiction which makes it a safe broker for CFDs and Forex trading. eToro is an excellent platform for social copy trading and cryptocurrency trading. A user-friendly web platform and mobile app offered by eToro is great for less experienced investors.

eToro Platform

AvaTrade

AvaTrade is a well-reputed Forex/CFD brokerage firm, founded in 2006. They have their headquarters in the Republic of Ireland but their corporate structure has many regular bases like Australia, Japan, the Republic of Ireland, South Africa, and the British Virgin Islands. AvaTrade is also regulated by Abu Dhabi’s Financial Services Regulatory Authority.

AvaTrade - Global Regulated Broker

Trading Fees

FeeseToroAvaTrade
Inactivity FeesYesYes
Deposit FeesNoNo
Withdrawal FeesYesNo
CommissionNoNo

Supported Platforms

Platforms eToro AvaTrade
MT4 No Yes
MT5 No Yes
Web Trader Yes Yes
MT4 Mac No Yes
Mirror Trader No Yes
Sirix No No
cTrader No No
PAMM No No
ZULU trade No Yes
Custom platforms Copy trader AvaTradeAct, AvaOptions

Pros

eToroAvaTrade
Easy to access crypto tradingWide range of trading products
Easy to navigate mobile appVariety of platforms to choose from
Simple trading platformsProtection from negative balance

Cons

eToroAvaTrade
Higher minimum deposit than its competitorsTerrible customer support
Educational material needs improvementDelayed withdrawals
Services only available in 41 U.S. statesComplicated signup process

Deposit & Withdrawal Methods

Features eToro AvaTrade
Minimum Initial Deposit $200 $100
Visa/MasterCard (Credit/debit) Yes Yes
PayPal (Deposit/Withdraw) Yes Yes
Skrill (Deposit/Withdraw) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes

Account Types

Account TypeseToroAvaTrade
Demo AccountYesYes
Micro AccountYesYes
Mini AccountYesYes
Standard AccountYesYes
ECN AccountNoNo
Islamic AccountYesYes
VIP AccountYesYes
Fixed SpreadsYesYes
Variable SpreadsNoYes
Zero Spread AccountNoNo
Supported Financial Markets
Markets and InstrumentseToroAvaTrade
Commodities Offered616
Forex (Currency pairs)4759
Stocks95799
BitcoinYesYes
IndicesYesYes
MajorsYesYes
US StocksYesYes
EnergiesYesYes
Penny stocksYesNo
MetalsYesYes
FTSEYesYes
AgriculturalYesYes
Dow JonesNoYes
DaxYesYes
ETFYesYes
NikkeiYesYes
IPONoYes
Education
FeatureseToroAvaTrade
Education-CFDsNoNo
Education-ForexYesYes
Client WebinarsYesNo
Client Webinars (Archived)NoYes
Beginner Trading VideosYesYes
Advanced Trading VideosYesYes
Investor DictionaryYesYes
Conclusion

eToro is an obvious pick when it comes to a social trading platform. However, the overpriced environment hampers the profitability, and the absence of the proper trading platform further reduces the appeal of the broker.

AvaTrade offers a variety of trading platforms in a more competitive pricing environment. It also supports automated trading solutions which are another advantage of the brokerage firm. Both the brokers comply with the regulators but between both of them, AvaTrade seems to be a better choice.