My comparison of eToro and AvaTrade has identified that eToro is slightly better than AvaTrade when comparing tradable assets and fees. However, beginners may be best served at AvaTrade with their outstanding education and customer service.
Suffice to say, comparing these two excellent forex brokers was a challenge as they both excel in different areas.
Is eToro better than AvaTrade?
Yes, eToro is better than AvaTrade but only marginally. This is largely because they offer zero commission trading on real stocks and boast one of the most active social and copy trading platforms in the world.
eToro has outperformed AvaTrade in the following areas:
- Lower forex fees
- Well structured, easy-to-use web platform
- Access to a greater number of markets and products
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Deposit and withdrawal:
Markets and products:
Deposit and Withdrawal:
Markets and Products:
eToro vs AvaTrade fees
|Minimum DepositThe minimum amount required to open an account|
|Minimum TradeThe minimum amount to trade or buy shares|
|ETFs FeeFee per ETF trade|
|Investment Trusts FeeFee per investment trust trade|
|Junior S&S ISA FeeSubscription fee per month and the platform fee|
|Non Trading FeeFee for not trading in a period|
$10 pcm after 1 year inactivity
$50 after 3 months
|Stocks & Shares ISA FeeSubscription fee per month and the platform fee|
|Telephone Dealing FeeFee for trading over the telephone|
|Withdrawal FeeFee for withdrawing funds from your account|
It was definitely a close call when I compared the fees for these two platforms. However, the eToro trading platform did present as slightly cheaper for forex trading with the EUR/USD benchmark fee being $7.8 compared to AvaTrades’s EUR/USD benchmark fee being $10.3.
This holds true for other currency pairs, with eToro coming in each time as a slightly cheaper option when you compare the two online brokers.
However, it is not all cut and dry as when it comes to CFDs. AvaTrade are slightly cheaper with the S&P 500 index CFD fee coming in at $1.0 at AvaTrade and $1.5 at eToro.
It is also worth mentioning that the minimum deposit for eToro is $50 whereas AvaTrade require a minimum deposit of $100 in order to get started on one of their trading accounts.
eToro vs AvaTrade platforms and tools
Platforms & tools
|Android AppAn Android app available in the Google Play store|
|Copy TradingOffers the ability to copy other traders portfolios|
|Demo AccountOffers a demo account|
|iPhone AppAn app available for download from the iOS app store|
|Islamic AccountDoes the platform offer a sharia compliant Islamic account|
|MetaTrader 4Offers the MetaTrader 4 trading platform solution|
|MetaTrader 5Offers the MetaTrader 5 trading platform solution|
|Social TradingOffers the ability to share your trades on social media|
|Stock AlertsAbility to set price alerts, volume alerts|
|Web PlatformOffers a web-based browser trading platform|
With the range of platforms on offer, including a mobile trading app, two proprietary platforms, MetaTrader 4, Zulu Trade, and DupliTrade, AvaTrade have catered to all levels of experience.
In addition, AvaTrade have provided investors with an additional layer of protection with AvaProtect, a type of insurance against losses. It is also prudent to note that eToro do not provide a desktop version.
eToro vs AvaTrade investments available
|Auto InvestingAbility to set auto-investing options, usually per month|
|CFD TradingOffers CFD trading|
|Corporate BondsOffers corporate bonds|
|CryptoAbility to buy and sell cryptocurrency|
|Ethical InvestmentsOffers ethical investment themed funds and ETFs|
|ETFsAbility to trade ETFs|
|ForexAble to trade Forex|
|Fractional SharesAble to buy fractional shares|
|FundsAble to buy funds|
|Government Bonds (Gilts)Able to buy government bonds and Gilts|
|Investment TrustsAble to buy investment trusts|
|Junior S&S ISAAble to buy a junior stocks and shares ISA|
|General Investment Account (GIA)Able to buy and sell shares|
|Spread BettingAble speculate on rising and falling of financial markets|
|Stocks & Shares ISAAble to buy a stocks and shares ISA|
eToro is the clear winner in terms of markets and products. In addition to the forex pairs, crypto, and CFDs offered at both AvaTrade and eToro, eToro also offer real stocks, fractional shares, and EFTs not found at AvaTrade.
In total, eToro have over 3000 trading instruments, whereas AvaTrade have around 1000. This can make all the difference when it comes to diversifying your portfolio.
eToro vs AvaTrade research
This was an exceptionally close race, with AvaTrade pulling slightly ahead with their provision of Autochartist and forex news.
Autochartist is a useful tool that monitors the markets 24 hours a day, utilising technical indicators in order to alert retail traders to opportunities in real time.
Who has the best customer service?
|PhoneMain phone number for customer services|
|Live chatHas live chat available|
|EmailMain email address for customer services|
|24/7 AvailabilityAvailable 24/7 for customer services|
|TrustPilot RatingThe TrustPilot rating of the platform|
4.4 - 20,229 reviews
|TwitterThe Twitter account for the platform|
Certainly the outstanding customer service at AvaTrade is hard to beat. They are quick to respond to queries 24/5 on channels that include email, telephone and live chat.
Conversely, eToro only offer customer service via email.
AvaTrade vs eToro education
This is one area where AvaTrade really shine, regardless of which trading platform you are comparing them to. Rarely do I encounter such a robust education section with both an excellent selection of in-house material and comprehensive content from third parties such as SharpTrader and Trading Central.
In contrast, eToro are sadly lacking when it comes to education. They do have a demo account and offer some videos in their trading school, however, it is difficult for traders to find answers to anything specific.
Is AvaTrade reliable?
Yes. AvaTrade are widely considered a safe and trustworthy forex and CFD broker that are authorised and regulated by the following institutions:
- Financial Conduct Authority
- The Financial Services Agency
- The Investment Industry Regulatory Organization of Canada
- The Japanese Financial Services Authority
- The Israel Securities Authority
- The Australian Securities & Exchange Commission
- Central Bank of Ireland
- Financial Regulatory Services Authority
- Abu Dhabi Global Markets
- Financial Futures Association of Japan.
On TrustPilot AvaTrade have scored an impressive 4.8/5 with many users citing the personalised and professional service received at AvaTrade.
FAQs about eToro vs AvaTrade
Is AvaTrade any good?
Is eToro trustworthy?
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.