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AvaTrade vs FXCM 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between AvaTrade and FXCM? 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, AvaTrade ranks more highly than FXCM.

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Compare

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Overall Rating AvaTrade FXCM
Overall Rating 8.7 / 10 8.5 / 10
Account Type AvaTrade FXCM
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 Yes No
Copy Trading AvaTrade FXCM
Social Trading / Copy Trading info Yes Yes
DupliTrade info Yes No
ZuluTrade info Yes Yes info
Cryptocurrency AvaTrade FXCM
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) AvaTrade FXCM
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) AvaTrade FXCM
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 AvaTrade FXCM
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes Yes
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info No No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms AvaTrade FXCM
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
Regulatory Licenses AvaTrade FXCM
Tier-1 Licenses info 4 4
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No Yes
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 3 2
Tier-3 Licenses info 0 0
Research, Education AvaTrade FXCM
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info Yes 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 AvaTrade FXCM
Minimum Deposit info $100 Starts from $50
Average Spread EUR/USD - Standard info 0.92 info 0.74 info
All-in Cost EUR/USD - Active info 0.61 info 0.74 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes Yes
Trading Tools AvaTrade FXCM
Watchlists - Total Fields info 7 13
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 80 115
Mobile Charting - Indicators / Studies info 73 59
Trust Factors AvaTrade FXCM
Year Founded info 2006 1999
Publicly Traded (Listed) info No Yes
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 94 95
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AvaTrade vs FXCM 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 AvaTrade and FXCM? Our independent database powered by our unbiased research will help you compare AvaTrade vs FXCM 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 AvaTrade?

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

Can I trust FXCM?

FXCM has a Trust Score of 95, giving it a "Highly Trusted" Trust Score Label.

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.

Is FXCM a good broker?

Founded in 1999, FXCM (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. FXCM offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). FXCM is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform). Though the range of markets available at FXCM has increased following the addition of its share trading feature, it's worth noting that pricing at FXCM is just average.

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. AvaTrade holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), CBI Authorised (Ireland) and Japan (SFC Authorised). FXCM, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised) and United Kingdom (U.K.) (FCA 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, AvaTrade is Cyprus (CySEC Authorised), Israel (ISA Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), while FXCM is Cyprus (CySEC Authorised), Israel (ISA Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses AvaTrade is British Virgin Islands (FSC Authorised), while FXCM is none.. 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 AvaTrade offers a Proprietary Platform, Desktop Platform (Windows), DupliTrade and ZuluTrade, whereas FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade. Neither have cTrader

Does AvaTrade offer MetaTrader? Does FXCM offer MetaTrader?

For MetaTrader AvaTrade provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while FXCM provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

AvaTrade requires a minimum deposit of $100, while FXCM requires a minimum deposit of Starts from $50. 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 AvaTrade and FXCM 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, AvaTrade or FXCM?

When choosing a broker, it’s important to check the availability of your preferred investment products and asset classes. We’ve tested each broker’s individual offering of investments to help you pick the right broker for what you want to trade. We found that both AvaTrade and FXCM offer Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD). Neither have ETF.

We also keep track of each broker’s total number of tradeable symbols; AvaTrade offers 1260, and FXCM offers a total of 440 tradeable symbols.

Can I trade cryptocurrency with AvaTrade or FXCM?

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 neither AvaTrade nor FXCM allow you to trade physical cryptocurrencies.

Who offers more research tools, AvaTrade or FXCM?

The best forex brokers arm their clients with a variety of research tools and resources. Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. In our testing, we discovered that both AvaTrade and FXCM offer the same suite of research tools and resources. Here’s a comprehensive list of the tools provided by both brokers: 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.

AvaTrade Review

FXCM Review

Overall winner: AvaTrade

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announcementPlease note:

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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