Company

Spread

for EUR/USD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details

AvaTrade

Offers four ways to trade: Forex, Spread betting, CFD trading, and options trading

 Offers Bitcoin, Ethereum, Dash, Ripple and Litecoin
AvaTrade
See Details Try a Demo
Your capital is at risk
€/£/$100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

AAA

Used by:

200,000

Established in:

2006

Regulated by:

Central Bank of Ireland, ASiC ...

Plus500

Offers two ways to trade: CFDs, Forex

Plus500
See Details Try a Demo
Your capital is at risk
£100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

B

Used by:

155,000

Established in:

2008

Regulated by:

Financial Conduct Authority (F...

See DetailsTry a Demo
Your capital is at risk

eToro

Offers two ways to trade: CFD trading, and social trading

eToro
See Details Try a Demo
Your capital is at risk
$50Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

AAA

Used by:

6,000,000

Established in:

2006

Regulated by:

Financial Conduct Authority, C...

See DetailsTry a Demo
Your capital is at risk

City Index

Offers three ways to trade: Forex, CFDs, Spread Betting

City Index
Your capital is at risk
£25Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

Admiral Markets

Offers two ways to trade: Forex, CFDs

Admiral Markets
Your capital is at risk
$200Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk
CFDs are leveraged products and can result in the loss of your capital. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Credit Cards

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose AvaTrade
For Credit Cards?

AvaTrade scored best in our review of the top brokers for credit cards, which takes into account 120+ factors across eight categories. Here are some areas where AvaTrade scored highly in:

  • 11+ years in business
  • Offers 250+ instruments
  • A range of platform inc. MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.0 pips
  • Used by 200,000+ traders
  • Allows hedging
  • 2 languages
  • Leverage up to 1:400

AvaTrade offers four ways to trade: Forex, Spread betting, CFD trading, and options trading. If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

AvaTrade have a AAA trust score, which is v. good. This is largely down to them being regulated by Central Bank of Ireland, ASiC , FSA, FSB and BVI, segregating client funds, being established for over 11 years, and much more. For comparison:

Trust Score comparsion

AvaTrade Plus500 eToro
Trust Score AAA B AAA
Year Established 2006 2008 2006
Regulated by Central Bank of Ireland, ASiC , FSA, FSB and BVI Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14) Financial Conduct Authority, CySEC
Uses tier 1 banks
Company Type Private Public Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who AvaTrade is (& Isn’t)
Suitable For

As mentioned, AvaTrade allows you to trade in four ways: Forex, Spread betting, CFD trading, and options trading.

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

  • Share Dealing

To trade with AvaTrade, you'll need a minimum deposit of $100. AvaTrade offers a range of different account types for different traders including a micro account, mini account, vip account.

Finally, AvaTrade isn't available in the following countries: US, Belgium, Canada & Singapore.

Part 3

A Comparison of AvaTrade vs. Plus500 vs. eToro


Want to see how AvaTrade stacks up against Plus500 and eToro? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
AvaTrade Plus500 eToro
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.0 0.01% 3.0
GBP/USD Spread 1.8 0.01% 4.0
USD/CAD Spread 1.80.02%3.0
USD/JPY Spread 0.90.02%2.0
DAX Spread 1.5 0.01% 100.0
FTSE 100 Spread 1.0 0.02% 100.0
S&P500 Spread 0.25 0.02% 100.0

Comparison of account & trading features

AvaTrade Plus500 eToro
Spread type Fixed B AAA
EUR/USD Spread 2006 2008 2006
EUR/GBP Spread Central Bank of Ireland, ASiC , FSA, FSB and BVI Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14) Financial Conduct Authority, CySEC
Crude Oil Spread
Gold Spread Private Public Private
DAX Spread

Part 4

Online Forex Trading Account Funding: Credit Cards

Credit cards are one of the safest and easiest methods to fund or make withdrawals from your online trading account. They are widely accepted by most online forex brokers. Brokers that are registered with the Financial Conduct Authority (UK) will only accept credit cards from the forex account owner to prevent money laundering/fraud.

An important consideration to take if you are opening an online trading account is that Mastercard do not accept refunds from spread betting or CFD trading companies.

A few things to consider before using a credit card to fund your forex account is:

  • if your card accepted by the broker
  • do they charge fees for credit cards
  • do they accept traders from your country
  • are there better alternatives
  • what documents do they need
  • how long does it take for transactions

Featured Forex Broker that accept credit cards: ETX Capital

Regulated by the Financial conduct authority (UK) #124721

ETX Capital is a top choice for traders looking for a trusted and regulated forex broker that also accept credit card payments. Why ETX Capital?:

  • They accept all major credit and debit cards except AMEX.
  • They do not charge fees for making payments or withdrawals.
  • Payments are processed quickly so you can start trading immediately- 1 working day.
  • Accept deposits in several currencies including :GBP, USD, EUR, ZAR, PLN, NOK, DKK, CZK and CHF.

Credit cards accepted by most online brokers:

Credit cards accepted by a minority of online brokers:

Credit card deposit/withdrawal fees

There is a mix of brokers who do not charge the trader any fees for making deposits/withdrawals while others charge a fee, usually around 2%. Some credit cards may also treat payments to forex brokers as cash advances rather than a regular purchase and charge a high interest rate. It would be best advised to check with your credit card provider first to see how they would view the payment. Generally using a debit card will always be free to use and may be the better option.

If you just register your card without making a payment, most brokers will make a pre-authorisation charge of 0.01p from your account. This will be reversed within a week and is only to ensure that it is a real card. This is a usual practice for businesses that require a credit card to make a reservation like hotels.

Making deposits and withdrawals

Before making any withdrawals, the brokers will generally require a few documents to verify who you are and to prevent fraud.

Required documents

  • Government issued ID/Passport/EU Driving licenses
  • Utility bill/bank statement/tax assessment showing your full name and physical address
  • KYC form
  • Once registered payments and withdrawals are simple and take only a few days.

    Usual payment/withdrawal processing times

    • Payments – 1 working day
    • Withdrawals – 4 working days

    Different brokers may have different requirement so it would be best advised to check what your chosen broker requires before you are allowed to make any withdrawals.

    Broker Debit Cards

    Some brokers will even offer their own branded Mastercard debit cards such as AvaTrade, HotForex and XM. These cards are directly connected to your trading account and allow you to instantly withdraw funds from your account.

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