Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
Dukascopy
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT DUKASCOPY
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Dukascopy is regulated by The Swiss Bank and MIFID. Dukascopy has provided Forex, CFD, commodities, indices and stock trading services since 2004.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
  • Yes Over 20 years in business
  • Yes
  • Yes
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Dublin, Ireland Geneva, Switzerland Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes No No
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 59 48
Commodities Offered 16 21
Stocks Offered 99 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes No Yes
See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

Losses can exceed deposits

See all instruments

76% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes No No
MT4 Mac Yes No Yes
WebTrader Yes Yes Yes
Mirror Trader Yes Yes Yes
ZuluTrade Yes Yes No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms AvaTradeAct, AVAOptions SWFX Trader Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes Yes
Available Languages

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, and Spanish

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

76% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by AvaTrade and Dukascopy

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account Yes Yes Yes
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads Yes No Yes
Variable spreads Yes Yes Yes
See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

76% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access Yes Yes Yes
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade None None 100 Lot
Min deposit $250 $5000 $1

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller Yes No Yes
Skrill Yes No Yes
Payment processing time Varies Varies Same day if requested before 1PM
Withdrawal processing time Varies Varies Same day if requested before 1PM
See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

76% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number (44) (0) 8005200423 41 227994848 44 2036953085
Live Chat Yes Yes Yes
Website http://www.avatrade.com/ https://www.dukascopy.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 1.3 pips 1.8 pips + $10.00 0.1 pips
GBP/USD (Average: 1.1 pips) 2.0 pips 2.3 pips + $10.00 0.1 pips
USD/JPY (Average: 1.1 pips) 1.5 pips 1.7 pips + $10.00 0.1 pips
AUD/USD (Average: 0.8 pips) 1.8 pips 1.7 pips + $10.00 0.2 pips
USD/CHF (Average: 2.3 pips) 2.0 pips 1.7 pips + $10.00 0.2 pips
USD/CAD (Average: 2.9 pips) 2.5 pips 2.3 pips + $10.00 0.3 pips
NZD/USD (Average: 3.6 pips) 2.8 pips 2.5 pips + $10.00 0.3 pips
EUR/GBP (Average: 2.4 pips) 2.0 pips 1.4 pips + $10.00 0.1 pips
View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

76% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No Yes No
Commission No Yes Yes
Deposit Fee No No No
Withdrawal Fee No No No
View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

76% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

All information collected from https://www.dukascopy.com/. Last updated on 01/10/2019.

All information collected from www.xtb.com. Last updated on 01/10/2019.

Company

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

Dukascopy is the broker designed for active traders, hedge funds, banks and professionals. Dukascopy allow you to trade both Forex and metals through the same platform. Dukascopy have focused on providing an attractive pricing model with spreads for popular forex pairs starting as low as 0.2 pips.

They provide instant execution on orders and offer a wide range of trading orders including stop-loss along with their 24 hour support 6 days a week. They provide a large variety of free financial information through their website, Dukascopy TV online, and an active online community. Dukascopy is a great choice for traders looking for a broker that provides binaries, CFD's and forex services.

For more information about trading with Dukascopy, we have put together an indepth Dukascopy review with some of the pros and cons about this broker.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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AvaTrade or Dukascopy?

A wide range of instruments or ECN execution?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, AvaTrade is likely the better option out of these brokers. However, if you want a broker with ECN execution, Dukascopy may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider AvaTrade to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

AvaTrade is regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI, while Dukascopy is regulated by FINMA & FSA.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

AvaTrade has been around for 13 years, while Dukascopy have been around for 21 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both AvaTrade and Dukascopy use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on AvaTrade or Dukascopy in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

AvaTrade is more popular with over 200,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both AvaTrade and Dukascopy are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

AvaTrade are based in Dublin, Ireland, while Dukascopy are based in Geneva, Switzerland .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both AvaTrade and Dukascopy offer forex trading. AvaTrade have a slightly larger variety of currency pairs with 59 pairs, compared to offered by Dukascopy. Also, if you’re looking to trade cryptocurrencies, AvaTrade offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, AvaTrade may be a better fit as Dukascopy does not offer commodity trading.

AvaTrade and Dukascopy both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both AvaTrade and Dukascopy offer this. AvaTrade also offer the new & improved MT5 platform. Our alternative broker, XTB, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

For Muslim traders, AvaTrade offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

AvaTrade does allow scalping and hedging. While Dukascopy also allows scalping and hedging. You can trade with EAs (expert advisors) on both AvaTrade and Dukascopy.

In terms of risk management tools, neither AvaTrade or Dukascopy offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

AvaTrade also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

AvaTrade accept Paypal while

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, AvaTrade charges 0.70 points, while Dukascopy charges 0.10 points. Therefore, Dukascopy is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: AvaTrade or Dukascopy?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, AvaTrade is more reliable based on our criteria above. AvaTrade has a wider range of instruments to trade. AvaTrade offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.