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.

Forex.com
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 FOREX.COM
TradeKing
7.1 /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 TRADEKING
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
About

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

TradeKing is regulated by FINRA, Securities Investor Protection Corporation (SIPC). TradeKing have provided Forex, Stocks, Options, ETF, Mutual funds trading services since 2005.

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.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 13 years in business
  • Yes
  • Yes
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters London, UK 11605 N Community House Rd, Third Floor, Charlotte, NC 28277 Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 80 59
Commodities Offered 12 16
Stocks Offered 220 99
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes Yes Yes
See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

Losses can exceed deposits

See all instruments

71% 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 No Yes
MT5 No No Yes
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms FOREXTrader PRO Trade King AvaTradeAct, AVAOptions

APPS

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

English, Chinese, and Arabic

English

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

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

Losses can exceed deposits

See platform & features

71% 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 Forex.com and TradeKing

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

70% of retail investor accounts lose money when trading CFDs with this provider

See account options

Losses can exceed deposits

See account options

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

TRADING CONDITIONS

Scalping Yes No Yes
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access Yes No Yes
STP broker Yes No No
Market maker Yes Yes Yes
Min trade Varies $5 0.01 Lot
Max trade 5 million None None
Min deposit $50 $500 $100

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No No Yes
Skrill No No Yes
Payment processing time Varies 1 business day Varies
Withdrawal processing time 1-2 business days Varies Varies
See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

Losses can exceed deposits

See all funding options

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

DETAILED INFO

Excluded countries AF, MM, CI , CU, of CG, IR, IQ, LY, KR, SO, SD, SY, AO, ZW AF, MM, CI , CU, of CG, IR, IQ, LY, KR, SO, SD, SY, AO, ZW BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number Yes 877.495.5464 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website http://www.forex.com https://www.tradeking.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips Not offered 0.9 pips
GBP/USD (Average: 1.1 pips) 0.9 pips Not offered 1.6 pips
USD/JPY (Average: 1.1 pips) 1.1 pips Not offered 1.1 pips
AUD/USD (Average: 0.8 pips) 1.2 pips Not offered 1.1 pips
USD/CHF (Average: 2.3 pips) 1.1 pips Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) 0.9 pips Not offered 2.0 pips
NZD/USD (Average: 3.6 pips) 2.3 pips Not offered 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.3 pips Not offered 1.5 pips
View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

Losses can exceed deposits

View all spreads

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

FEES

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

70% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

Losses can exceed deposits

View All Fees

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

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Last update

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

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

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

Company

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

TradeKing offer fair and simple pricing at $4,95 for stock and ETF trades and $4,95 plus $0,65 per contract for option traders, TradeKing value their reputation and offer instant online messaging for TradeKing customers and you will be connected with a real live person without the extended hold times if you chose to pick up the phone to discuss any questions you may have, You will also get access to some of the best research and trading tools. like stock reports. Maxit Tax Manager. Probability Calculator and Stock and Option Screeners at no additional cost,

TradeKing will give you access to their award winning community of traders including top pros to share ideas. experiences and strategies for online trading, TradeKing invest in technology to provide you with the best trading experience including fast trade executions guaranteed to be at the National Best Bid or Offer or better,

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.

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Forex.com or TradeKing?

Access to MT4 or low spreads?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, Forex.com is likely a better fit. However, if you want a broker with lower spreads on currency pairs like EUR/USD, TradeKing 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 Forex.com to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Forex.com is regulated by Financial Conduct Authority, while TradeKing is regulated by FINRA, Securities Investor Protection Corporation (SIPC).

As the Financial Conduct Authority are one of the most stringent regulators in the world, Forex.com will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

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.

Forex.com has been around for 20 years, while TradeKing have been around for 14 years. Our third alternative broker, AvaTrade, have been around for 13 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 Forex.com and TradeKing 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 Forex.com or TradeKing 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.

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.

Forex.com is a publicly listed company, while on the other hand TradeKing is still a privately owned company.

Where are they located?

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

Forex.com are based in London, UK, while TradeKing are based in 11605 N Community House Rd, Third Floor, Charlotte, NC 28277 .

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 Forex.com and TradeKing offer forex trading. Forex.com have a slightly larger variety of currency pairs with 80 pairs, compared to offered by TradeKing. Also, if you’re looking to trade cryptocurrencies, Forex.com 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, Forex.com may be a better fit as TradeKing does not offer commodity trading.

Platforms & Account Types

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.

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.

Forex.com does allow scalping and hedging. While TradeKing does not allow scalping or allow hedging. You can trade with EAs (expert advisors) on both Forex.com and TradeKing.

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

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

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, Forex.com charges 1.00 points, while TradeKing charges points. Therefore, TradeKing 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: Forex.com or TradeKing?

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

Objectively, Forex.com is more reliable based on our criteria above. Forex.com has a wider range of instruments to trade. Forex.com 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.