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AvaTrade vs FXCM 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between AvaTrade and FXCM? Weโ€™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.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating expand_moreexpand_less AvaTrade FXCM IG
Overall Rating 8.2 / 10 8.3 / 10 9.7 / 10
Account Type expand_moreexpand_less AvaTrade FXCM IG
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes No No
Copy Trading expand_moreexpand_less AvaTrade FXCM IG
Social Trading / Copy Trading Yes Yes Yes
DupliTrade Yes No No
ZuluTrade Yes Yes No
Cryptocurrency expand_moreexpand_less AvaTrade FXCM IG
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less AvaTrade FXCM IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less AvaTrade FXCM IG
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less AvaTrade FXCM IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting Yes Yes Yes
Social Trading / Copy Trading Yes Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes No Yes
ETF No No Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less AvaTrade FXCM IG
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes No No
Regulatory Licenses expand_moreexpand_less AvaTrade FXCM IG
Tier-1 Licenses 4 3 7
ASIC Authorised (Australia) Yes Yes Yes
IIROC Authorised (Canada) Yes Yes No
FCA Authorised (U.K.) No Yes Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) No No Yes
FINMA Authorised (Switzerland) No No Yes
CFTC Registered (USA) No No Yes
Tier-2 Licenses 3 3 2
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less AvaTrade FXCM IG
Trading Central (Recognia) Yes Yes No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist No Yes Yes
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) Yes Yes Yes
Trading Costs expand_moreexpand_less AvaTrade FXCM IG
Minimum Initial Deposit $100 Starts from $50 ยฃ250.00
Average Spread EUR/USD - Standard 0.91 (Aug 2020) 1.4 (Q2 2020) 0.828 (September 2021)
All-in Cost EUR/USD - Active 0.61 (Aug 2020) 1.1 (Q2 2020) 0.365 (May 2020)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes No Yes
Trading Tools expand_moreexpand_less AvaTrade FXCM IG
Watchlists - Total Fields 6 12 14
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 90 57 32
Mobile Charting - Indicators / Studies 73 59 32
Trust Factors expand_moreexpand_less AvaTrade FXCM IG
Year Founded 2006 1999 1974
Publicly Traded (Listed) No Yes Yes
Bank No No Yes
Authorised in European Union Yes Yes Yes
Trust Score 93 96 99
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AvaTrade vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare AvaTrade vs FXCM.

Can I trust AvaTrade?

AvaTrade has a trust score of 93, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust FXCM?

FXCM has a trust score of 96, giving it a "Highly Trusted" trust label.

Is AvaTrade a good broker?

AvaTrade is a well-rounded, trusted broker that offers excellent educational resources and great social copy trading tools. 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.

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research โ€“ though pricing at FXM is just average.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. AvaTrade is ASIC Authorised (Australia), IIROC Authorised (Canada), CBI Authorised (Ireland) and FSA Authorised (Japan), while FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.)., neither have SFC Authorised (Hong Kong), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

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 CySEC Authorised (Cyprus), ISA Authorised (Israel), FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), NSE Authorised (India), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses AvaTrade is FSC Authorised (British Virgin Islands), while FXCM is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms AvaTrade supports 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. From our testing we found AvaTrade offers spreads of 0.91 (Aug 2020) , while FXCM offers spreads of 1.4 (Q2 2020). AvaTrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, AvaTrade or FXCM?

AvaTrade offers a more diverse selection of investment options than FXCM allowing you to trade Forex Trading, Trading - Forex or CFDs, Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have ETF Looking at total tradeable symbols, AvaTrade has 1260, compared to 276 from FXCM.

Can I trade cryptocurrency with AvaTrade or FXCM?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither AvaTrade nor FXCM allow you to trade physical cryptocurrencies.

Who offers more research tools, AvaTrade or FXCM?

In terms of research and research tools AvaTrade gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison FXCM has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.




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