Is eToro better than AvaTrade? Over the past 5 months, we tested the top 30 forex brokers, and these two kept coming to the top of the list. But which is better? From our evaluation, eToro comes out on top in 2020 because of its industry-leading copy-trading features for the more than 1,900 instruments they offer (including cryptocurrencies and CFDs). For all its strengths, eToro is on the pricier side.

All trading involves risk. More than 70% of investors lose money in Forex and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

High Bonuses, Now With Low Spreads! Free Social Trading and Low Fees

Overall Rating

Feature AvaTrade eToro Overall ⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ ​ AvaTrade Review eToro Review ​ 71% of retail CFD accounts lose money 66% of retail CFD accounts lose money

Regulation

Feature AvaTrade eToro Trust Score 93 91 Year Founded 2006 2007 Publicly Traded (Listed) 🚫 🚫 Bank 🚫 🚫 Tier-1 Licenses 2 2 Tier-2 Licenses 1 1 Tier-3 Licenses 0 0 Authorized in the European Union ✅ ✅

All trading involves risk. More than 70% of investors lose money in Forex and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Tier-1 Licenses

Feature AvaTrade eToro ASIC Authorized (Australia) ✅ ✅ IIROC Authorized (Canada) ✅ 🚫 SFC Authorized (Hong Kong) 🚫 🚫 FSA Authorized (Japan) ✅ 🚫 MAS Authorized (Singapore) 🚫 🚫 FINMA Authorized (Switzerland) 🚫 🚫 FCA Authorized (UK) 🚫 ✅ CFTC Registered (USA) 🚫 🚫

Investments

Feature AvaTrade eToro Forex: Spot Trading ✅ ✅ Social Trading / Copy-Trading ✅ ✅ Currency Pairs (Total Forex pairs) 60 47 CFDs – Total Offered 681 1980 Cryptocurrency traded as actual 🚫 ✅ Cryptocurrency traded as CFD ✅ ✅ Offering of Investments ⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ Winner ​ ✅

Cost

Feature AvaTrade eToro Average Spread EUR/USD – Standard 0.92 (as of Mar 2020) 3 (Mar 2020) All-in Cost EUR/USD – Active 0.62 (Mar 2020) N/A Active Trader or VIP Discounts ✅ ✅ Commissions & Fees ⭐️⭐️⭐️⭐️ ⭐️⭐️⭐️ Winner ​ ✅

Funding

Feature AvaTrade eToro Minimum Initial Deposit $100 $200 Bank Wire (Deposit/Withdraw) ✅ ✅ Visa/Mastercard (Credit/Debit) ✅ ✅ PayPal (Deposit/Withdraw) ✅ ✅ Skrill (Deposit/Withdraw) ✅ ✅

Trading Platforms

Feature AvaTrade eToro Proprietary Platform ✅ ✅ Desktop Platform (Windows) ✅ 🚫 Web Platform ✅ ✅ Social Trading / Copy-Trading ✅ ✅ MetaTrader 4 (MT4) ✅ 🚫 MetaTrader 5 (MT5) ​✅ ​🚫 cTrader 🚫 🚫

Feature AvaTrade eToro Virtual Trading (Demo) ✅ ✅ Alerts – Basic Fields ✅ ✅ Watchlists – Total Fields 0 6 Charting – Indicators / Studies (Total) 23 66 Charting – Drawing Tools (Total) 31 13 Charting – Trade From Chart ​✅ ​🚫 Charting – Drawings Autosave ​✅ ✅ Order Type – Trailing Stop ​✅ ​✅ Platform & Tools ⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ Winner ​✅ ​

Mobile Trading

Feature AvaTrade eToro Android App ✅ ✅ Apple iOS App ✅ ✅ Trading – Forex ✅ ✅ Trading – CFDs ✅ ✅ Alerts – Basic Fields 🚫 🚫 Watch List 🚫 ✅ Watch List Syncing 🚫 ✅ Charting – Indicators / Studies 93 5 Charting – Draw Trend Lines ​🚫 ​🚫 Charting – Trend Lines Moveable ​✅ 🚫 Charting – Multiple Time Frames ✅ ​✅ Charting – Drawings Autosave 🚫 🚫 Forex Calendar 🚫 🚫 Mobile Trading ⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ Winner ​ ✅

Research

Feature AvaTrade eToro Daily Market Commentary ✅ ✅ Forex News (Top-Tier Sources) 🚫 🚫 Weekly Webinars 🚫 ​🚫 AutoChartist ✅ 🚫 Trading Central (Recognia) 🚫 🚫 Delkos Research 🚫 🚫 Social Sentiment – Currency Pairs 🚫 ✅ Economic Calendar ✅ ✅ Research ⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ Winner ​ ✅

Education

Feature AvaTrade eToro Has Education – Forex ✅ ✅ Has Education – CFDs 🚫 🚫 Client Webinars 🚫 ✅ Client Webinars (Archived) ✅ 🚫 Videos – Beginner Trading Videos ✅ ✅ Videos – Advanced Trading Videos ✅ ✅ Investor Dictionary (Glossary) ✅ ✅ Education ⭐️⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ Winner ​ ✅

Major Forex Pairs

Feature AvaTrade eToro GBP/USD ✅ ✅ USD/JPY ✅ ✅ EUR/USD ✅ ✅ USD/CHF ✅ ✅ USD/CAD ✅ ✅ NZD/USD ✅ ✅ AUD/USD ✅ ✅

Overall

Feature AvaTrade eToro AvaTrade Review eToro Review Overall ⭐️⭐️⭐️ ⭐️⭐️⭐️⭐️ Winner ​ ✅

Side-by-side comparisons of forex brokers is not a simple task to perform. Preparing for this annual broker review took hundreds of hours of research, testing, and direct communication with each of the 30 brokers.

Lowest Priced Broker

While this seems like it should be an easy question to answer, it isn’t. Forex and CFD brokers are notoriously vague about the details of their fees and pricing structures.

To gauge the real costs, we opened the same series of positions at both brokers and compared the total fees charged. In our comparison, AvaTrade came out the winner with lower overall pricing for traders.

Safest Broker

Without question, the most important question when choosing a broker is the safety of your funds. At Business24, we accessed 21 international regulator databases to track each CFD and forex broker. Would you like to know what we found out?

eToro holds 2 global Tier-1 licenses, while AvaTrade holds 3. eToro holds 1 global Tier-2 licenses, while AvaTrade holds 3. When the quality of each regulator is considered and averaged together, eToro earns a Reliability Score of 91% while AvaTrade earns a Reliability Score of 93%.

Best Trading Platform

This is another difficult question to answer, as there are so many factors to consider when comparing trading platforms. But across the three main areas of mobile apps, research capabilities, and trading tools, eToro provides a better experience each time. That means, based on our evaluation, that eToro has a better trading platform.

However, if you are a trader who requires the use of MetaTrader 4 because of your trading style or other factors, then AvaTrade is the better broker for you. eToro does not offer MetaTrader 4.

Copy Trading

Both AvaTrade and eToro offer social trading for both forex and CFDs.

Most Complete Offering

The answer to this question depends on your trading focus and style. eToro offers 47 currency pairs (e.g., USD/EUR), compared to AvaTrade’s 60 currency pairs. So, if you focus on trading the largest number of currency pairs possible, then AvaTrade is your best option. However, AvaTrade only offers 681 CFDs, while eToro provides access to over 1,980 CFDs. That means you have nearly 1,300 more CFD possibilities with eToro!

Verdict

Based on our research, evaluation, and testing, eToro is the better forex broker.