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eToro vs AvaTrade 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between eToro and AvaTrade? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, eToro ranks more highly than AvaTrade.

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Compare

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Overall Rating eToro AvaTrade
Overall Rating 8.8 /10 8.7 /10
Offering of Investments 9.5 /10 7.5 /10
Commissions & Fees 8.5 /10 9.0 /10
Platform & Tools 9.0 /10 8.5 /10
Research 8.5 /10 7.5 /10
Mobile Trading 8.5 /10 8.5 /10
Education 9.0 /10 10 /10
Account Type eToro AvaTrade
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No Yes
Deposit/Withdrawal Options eToro AvaTrade
Minimum Deposit info $10-$10,000 $100
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Copy Trading eToro AvaTrade
Social Trading / Copy Trading info Yes Yes
DupliTrade info No Yes
ZuluTrade info No Yes
Cryptocurrency eToro AvaTrade
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) eToro AvaTrade
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) eToro AvaTrade
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments eToro AvaTrade
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No Yes
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms eToro AvaTrade
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses eToro AvaTrade
Tier-1 Licenses info 3 4
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No Yes
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses info 0 3
Tier-3 Licenses info 0 0
Research, Education eToro AvaTrade
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info No Yes
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs eToro AvaTrade
Minimum Deposit info $10-$10,000 $100
Average Spread EUR/USD - Standard info 1 info 0.92 info
All-in Cost EUR/USD - Active info N/A 0.61 info
Active Trader or VIP Discounts info Yes Yes
Trading Tools eToro AvaTrade
Watchlists - Total Fields info 6 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 104 80
Mobile Charting - Indicators / Studies info 104 73
Trust Factors eToro AvaTrade
Year Founded info 2007 2006
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 90 94
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eToro vs AvaTrade Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between eToro and AvaTrade? Our independent database powered by our unbiased research will help you compare eToro vs AvaTrade side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust eToro?

eToro has a Trust Score of 90, giving it a "Highly Trusted" Trust Score Label.

Can I trust AvaTrade?

AvaTrade has a Trust Score of 94, giving it a "Highly Trusted" Trust Score Label.

Is eToro a good broker?

Best known for its versatile and easy-to-use social copy trading platform suite for web and mobile, eToro offers a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. With licenses from multiple Tier-1 regulatory jurisdictions and a Trust Score rating of 90, we consider eToro to be a highly trusted broker. It's worth noting that eToro is not a discount broker (though it delivers more benefits than its competitors in the same price range). Trading forex and CFDs at eToro is slightly pricier than at many of its competitors, though the broker has recently lowered its spreads and introduced zero-dollar commissions for U.S. stock trading.

Is AvaTrade a good broker?

AvaTrade is a well-rounded, highly trusted broker that offers excellent educational resources for beginner forex traders and great tools for social copy trading. AvaTrade's commissions and market research are close to the industry average, and traders gain access to AvaTrade's proprietary platforms as well as third-party favorites like MetaTrader 4 and MetaTrader 5.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. eToro holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). AvaTrade, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), CBI Authorised (Ireland) and Japan (SFC Authorised). Neither have Hong Kong (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, eToro is Cyprus (CySEC Authorised), while AvaTrade is Cyprus (CySEC Authorised), Israel (ISA Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses eToro is none, while AvaTrade is British Virgin Islands (FSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that eToro offers a Proprietary Platform, whereas AvaTrade supports a Proprietary Platform, Desktop Platform (Windows), DupliTrade and ZuluTrade. Neither have cTrader

Does eToro offer MetaTrader? Does AvaTrade offer MetaTrader?

For MetaTrader eToro provides neither of these, while AvaTrade provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do eToro and AvaTrade differ in terms of minimum deposit? What about average spreads and funding options?

eToro requires a minimum deposit of $10-$10,000, while AvaTrade requires a minimum deposit of $100. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both eToro and AvaTrade offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits

Which broker offers more tradeable asset classes, eToro or AvaTrade?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that eToro delivers a more diverse selection of investment options than AvaTrade, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; eToro offers 3479, and AvaTrade offers a total of 1260 tradeable symbols.

Can I trade cryptocurrency with eToro or AvaTrade?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that eToro offers clients access to trading physical cryptocurrencies while AvaTrade does not.

Who offers more research tools, eToro or AvaTrade?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. eToro delivers the following research tools: Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading. AvaTrade, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. Neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

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AvaTrade Review

Overall winner: eToro

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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