Both eToro and Avatrade are well-known Forex brokers in the market. Nowadays, many newbies are willing to step into the Forex market, and search for comparisons. So, in this post, we will cover some key points for both eToro and Avatrade.
What’s the main difference between eToro and Avatrade?
There is a major difference between eToro and Avatrade, which might play an important role in choosing one over the other. The key selling point of eToro is their leading social investment network, as they provide clients a way to copy and follow a trader in the real-time in an easy and user-friendly manner. On the other hand, Avatrade’s key selling point is that a client or trader gets a lot of trading platform options, which they can opt for trading. They also provide automated trading options. They offer platforms such as Mirror trader, ZuluTrade and API trading. Ava trading API gives a client all the important tools they need to securely link an automated trading solution – whether custom-made or third-party – to the Ava Trader platform.
One of the other important features of the eToro is their openbook platform. They provide a unique investment network where a trader and the best forex broker can trade currencies, commodities, indices and stocks, and interact with other investors and traders socially across the world. They offer a concept, which enables a client to explore another trader’s profile, analyze performance, follow that trader and also copy the trades of a trader in the real time. They even offer feature with which a trader can copy stocks and indices trade in the real time.
Such feature is not available for the Avatrade.
Avatrade wins in this category by a fair margin. They provide a trading platform for almost every OS and device. Avatrade also provides MT4 to every client, which is definitely a positive over the eToro.
eToro AVATRADE Webtrader Webtrader Mobile – Android, iPhone Mobile – Android, iPhone and Windows Avaoptions Automated trading – Zulutrade, Mirror Trade and API trading AvaTrade’s web-based Mac platform Desktop – Ava Trader MT4
If we compare the web version of both the brokers, then, in my personal opinion eToro’s webtrader is a lot better than the Avatrade’s webtrader. The eToro web platform is a lot easier than the Avatrade, as it has more features and is more interactive compared to the Avatrade. However, from time to time eToro’s clients complain regarding the stability of the webtrader.
The Android trading platform provided by the eToro is also a lot better than Avatrade. However, this does not take away from the fact that the Avatrade provides a number of trading platform options, which makes it a winner in this section.
Deposit and Withdrawal options
One important thing almost every investor must take care is the deposit and withdrawing options provided by a broker. This category has no clear winner as both the brokers offer the most used and popular deposit and withdrawal options. A comparison of the options can be seen in the image above. Avatrade provides one or two more options, but that’s not a huge difference considering the popularity of the options.
This is another category in which Avatrade is a clear winner, as they offer four account types compared to only one by eToro (as no information is provided on the website, and there is only one account type option while opening an account – standard). Avatrade provides four options – Silver, Gold, platinum and AVA select.
The benefits offered varies according to the account type, as can be seen in the image below. You can also know more via following this link – Promotions
A couple of other things to be considered are scalping, trailing stops and spreads. Avatrade allows both scalping and trailing stops while eToro doesn’t. The spreads are slightly on the lower side on Avatrade. Avatrade also allows account currency to be in the Euro.
So, overall there are a lot of features provided by the Avatrade which are not offered by the eToro, but that is compensated to a great extent by the eToro’s Openbook. If you are looking for more features and flexibility, then you can opt for Avatrade, and if you are looking for a platform with social features, then eToro is the one for you.