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
PriorFX
8.3 /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 PRIORFX
Pepperstone
9.3 /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 PEPPERSTONE
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.

PriorFX is regulated by CySEC. PriorFX have provided Forex, CFD trading services since 2013.

Pepperstone is regulated by ASIC. Pepperstone have provided Forex trading services since 2010.

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 5 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
Headquarters Dublin, Ireland Limassol, Cyprus Melbourne, Australia

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 No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 59 30 61
Commodities Offered 16 5 12
Stocks Offered 99 0 60
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes No
Dow Jones Yes No No
Dax Yes Yes Yes
Nikkei Yes Yes No
ETFs Yes No No
IPO Yes No No
See all instruments

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

See all instruments

71.96% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

PLATFORM & FEATURES

See the platforms and features offered by each broker

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

APPS

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

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

English, Russian, German, Hungarian, and Arabic

English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic

See platform & features

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

See platform & features

71.96% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

ACCOUNT INFORMATION

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

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

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

See account options

71.96% of retail investor accounts lose money when trading CFDs with this provider.

See account options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes Yes
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 10,000 Lot None
Min deposit $100 $50 $200

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 Yes Yes
Skrill Yes No Yes
Payment processing time Varies 1 business day Varies
Withdrawal processing time Varies 1 business day Varies
See all funding options

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

See all funding options

71.96% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

DETAILED INFO

Excluded countries US US KR, IR, IQ, SY, JP, US
Contact email Send Email Send Email Send Email
Phone number (44) (0) 8005200423 357 2525 8229 61 3 9020 0155
Live Chat Yes Yes Yes
Website http://www.avatrade.com/ https://priorfx.com/ https://pepperstone.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.9 pips Not offered 0.13 pips + $5.00
GBP/USD (Average: 1.1 pips) 1.6 pips Not offered 0.49 pips + $5.00
USD/JPY (Average: 1.1 pips) 1.1 pips Not offered 0.25 pips + $5.00
AUD/USD (Average: 0.8 pips) 1.1 pips Not offered 0.27 pips + $5.00
USD/CHF (Average: 2.3 pips) 1.6 pips Not offered 0.64 pips + $5.00
USD/CAD (Average: 2.9 pips) 2.0 pips Not offered 0.47 pips + $5.00
NZD/USD (Average: 3.6 pips) 1.8 pips Not offered 1.1 pips + $5.00
EUR/GBP (Average: 2.4 pips) 1.5 pips Not offered 1.0 pips + $5.00
View all spreads

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

View all spreads

71.96% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

FEES

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

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

View All Fees

71.96% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

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Last update

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

All information collected from https://priorfx.com/. Last updated on 01/12/2019.

All information collected from https://pepperstone.com/. Last updated on 01/12/2019.

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.

PriorFX is an online forex trading service provider who are regulated by CySEC, MiFID, FCA. To open an account with PriorFX, minimum deposits start from $250.

With PriorFX you can trade Gold, silver, oil, and indices. If you like to trade on the go, PriorFX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

PriorFX offer MT4 webtrader, iPad Trading App, iPhone Trading App, Android Trading App, MetaTrader 4 on MAC platforms to make your trades and support 6 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by PriorFX for the most popular instruments are:
1 EUR/USD, 0.15 FTSE 100, 2.2 GOLD,
1.3 GBP/USD, 0.1 DOW/JONES, 0.1 Crude Oil,
see all the spreads here.

Pepperstone provide a trading platform for retail and institutional investors looking for a broker that provides fast execution, reliable technology, award winning customer service all at superior competitive pricing.

Pepperstone was founded in 2010 to provide a solution to traders frustrated by slow trade execution, excessive spread and poor customer service from other online brokers. Pepperstone are a perfect choice for traders with spreads start from as low as 0 pips and combined with their use of leading technology platforms including MetaTrader 4 and cTrader.

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

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AvaTrade or PriorFX?

A wide range of instruments or ?

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

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 PriorFX is regulated by CySEC.

Pepperstone 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 PriorFX have been around for 6 years. Our third alternative broker, Pepperstone, have been around for 9 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.

AvaTrade uses tier one banks as their banking partner.PriorFX does not use tier one banks as their banking partner.

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 PriorFX 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 PriorFX 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 PriorFX are based in Limassol, Cyprus .

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 PriorFX offer forex trading. AvaTrade have a slightly larger variety of currency pairs with 59 pairs, compared to 30 offered by PriorFX. Also, if you’re looking to trade cryptocurrencies, AvaTrade offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both AvaTrade and PriorFX allow you to trade commodities like gold, silver and crude oil.

AvaTrade also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

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 PriorFX offer this. AvaTrade also offer the new & improved MT5 platform. Our alternative broker, Pepperstone, 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 PriorFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both AvaTrade and PriorFX.

In terms of risk management tools, AvaTrade doesn't offer negative balance protection, but PriorFX does. 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 PriorFX accept Neteller.

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 PriorFX charges 1.00 points. Therefore, AvaTrade 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 PriorFX?

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.