Avatrade Vs FXTM

Category: Broker Guides | Author: Trading Brokers | Date: June 25, 2023

In the fast-paced world of online trading, finding the right platform to suit your needs can make all the difference. Today, we dive into the highly competitive realm of forex trading to compare two prominent players: Avatrade and FXTM. Both platforms have garnered a reputation for their innovative features, user-friendly interfaces, and extensive range of trading instruments. As we delve into this head-to-head showdown, we’ll explore the key aspects that traders should consider when choosing between Avatrade and FXTM. So, if you’re eager to embark on your trading journey or seeking a switch, join us as we analyze these popular platforms.

What is Avatrade?

AvaTrade

AvaTrade

AvaTrade is a highly reputable and globally recognized online trading platform that has become a go-to choice for traders across the financial industry. Since its establishment in 2006, AvaTrade has consistently impressed with its extensive range of trading instruments and exceptional features. Whether you’re interested in forex, commodities, indices, cryptocurrencies, or more, Avatrade has got you covered. With a user-friendly interface and intuitive navigation, even novice traders can swiftly navigate the platform and execute trades with ease.

One of Avatrade’s key strengths lies in its advanced trading tools, designed to empower traders with insightful market analysis, real-time charts, and customizable indicators. Traders can access multiple platforms, including the popular MetaTrader 4 and AvaTradeGO, ensuring flexibility and convenience across devices. Moreover, Avatrade places a strong emphasis on security, employing the latest encryption technology to safeguard user data and funds. With a solid track record in regulatory compliance, including licenses from prominent financial authorities, AvaTrade offers traders a trusted and secure environment to pursue their financial goals.

Pros

  •  Wide range of trading instruments, including forex, commodities, indices, cryptocurrencies, and more.
  • User-friendly interface and intuitive navigation for traders of all experience levels.
  • Advanced trading tools, such as market analysis, real-time charts, and customizable indicators.
  • Multiple platforms, including MetaTrader 4 and AvaTradeGO, offer flexibility and convenience.
  • Strong focus on security, utilizing encryption technology to protect user data and funds.
  • Regulated and licensed by prominent financial authorities, ensuring a trustworthy trading environment.

Cons

  • Inactivity fees may apply if an account remains dormant for a specified period.
  • Limited educational resources compared to some competitors.
  • The availability of certain trading instruments may vary based on geographical location.
  • Customer support response times may vary and could be improved.
  • Limited options for social trading and copy trading compared to other platforms.
  • Potential for slippage during volatile market conditions, impacting trade execution.
AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

What is FXTM?

FXTM

FXTM

FXTM, also known as ForexTime, is a well-established and globally recognized online forex trading platform. Since its establishment in 2011, FXTM has garnered a reputation for its comprehensive range of forex trading services and innovative features. The platform offers a diverse selection of trading instruments, including major, minor, and exotic currency pairs, along with various CFDs on commodities, indices, and cryptocurrencies. FXTM provides traders with user-friendly platforms, including MetaTrader 4 and MetaTrader 5, empowering them with advanced charting tools, technical indicators, and expert advisors. With a strong commitment to education, FXTM offers a range of educational resources and webinars to support traders at every level.

Pros

  • Extensive range of forex trading instruments, including major, minor, and exotic currency pairs.
  • User-friendly platforms like MetaTrader 4 and MetaTrader 5 with advanced trading tools.
  • Comprehensive educational resources and webinars to support traders’ knowledge and skills.
  • Multiple account types, including standard and ECN accounts, catering to different trading preferences.
  • Competitive spreads and transparent pricing, providing favorable trading conditions.
  • Regulated by respected financial authorities, ensuring a secure trading environment.

Cons

  • Limited availability of certain trading instruments in specific regions.
  • Customer support response times can vary, affecting timely issue resolution.
  • Inactivity fees may apply if an account remains dormant for a specific period.
  • Some advanced features and tools may require a higher account deposit.
  • Limited options for social trading and copy trading compared to other platforms.
  • Swap rates may apply for positions held overnight, impacting long-term trading costs.
FXTM Logo

FXTM is an award-winning broker with strict regulation in multiple jurisdictions. They have user-friendly trading platforms, various account types and funding methods, along with a vast range of educational materials and trading tools to help you make informed trade decisions.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Avatrade vs FXTM: Analyzing Two Powerhouses of Trading

Here are some comparisons between AvaTrade and FXTM based on their features

Regulation:

When comparing AvaTrade and FXTM, it’s important to consider their regulatory status. AvaTrade is regulated by multiple top-tier financial authorities, including the Financial Sector Conduct Authority (FSCA) of South Africa, Australian Securities and Investments Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Financial Services Commission (FSC) of British Virgin Islands, Financial Services Agency (FSA) of Japan, and Central Bank of Ireland (CBI). On the other hand, FXTM is regulated by the Financial Conduct Authority (FCA) of the United Kingdom, Cyprus Securities and Exchange Commission (CySEC), FSCA of South Africa, and FSC of Mauritius. Both platforms demonstrate a commitment to regulatory compliance, providing a level of trust and security for traders.

Minimum Deposit:

The minimum deposit required to open an account is another factor to consider. AvaTrade requires a minimum deposit of $100, while FXTM has a lower minimum deposit requirement of $10. Depending on your budget and trading preferences, this difference in minimum deposit amounts may influence your choice of platform.

Trading Instruments:

Both AvaTrade and FXTM offer a wide range of trading instruments, including forex, CFDs, indices, commodities, stocks, and cryptocurrencies. With over 250+ trading instruments available on both platforms, traders have the opportunity to diversify their portfolios and explore different markets.

Trading Platforms:

The choice of trading platforms can significantly impact your trading experience. AvaTrade provides multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), Web Trader, Mobile App, Vanilla Options, and Social Trading. FXTM offers MT4, MT5, and mobile trading platforms. The availability of different platforms allows traders to choose the one that best suits their trading style and preferences.

Deposit Methods:

Convenience and flexibility in deposit methods are essential for traders. AvaTrade accepts deposits via Bank transfer, Visa, MasterCard, Skrill, Neteller, Perfect Money, and more. Similarly, FXTM accepts deposits via Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, and other popular payment methods. This range of deposit options ensures that traders can easily fund their accounts using their preferred payment method.

Pricing and Fees:

Pricing and fees play a crucial role in determining the overall cost of trading. When comparing AvaTrade and FXTM, it’s worth noting that AvaTrade generally offers lower trading costs for forex trading. It has an average spread of 0.6 pips for the EUR/USD currency pair, while FXTM has an average spread of 1.2 pips for the same currency pair. Additionally, both platforms charge for inactivity and withdrawal, although AvaTrade specifically mentions an inactivity fee. Traders should consider these factors and assess their impact on their trading strategies and profitability.

Customer Service:

Responsive and helpful customer service can greatly enhance the overall trading experience. Both AvaTrade and FXTM offer customer support via phone, live chat, and email. AvaTrade stands out by providing 24/7 availability for customer support, ensuring that assistance is accessible at any time. On the other hand, FXTM’s availability is not explicitly specified. Consider your preferences for customer support availability when choosing between the two platforms.

Deciding Between Avatrade and FXTM: Which is Best for You?

Determining the best trading platform for your needs requires careful consideration of your preferences and requirements. If you’re someone who appreciates a diverse range of trading instruments and desires the flexibility to explore various markets, Avatrade emerges as a strong contender. With its extensive offering that includes cryptocurrencies alongside traditional assets, Avatrade caters to those seeking a broader investment portfolio.

On the other hand, if you prioritize comprehensive forex services and value extensive educational resources to enhance your trading skills, FXTM may be the ideal platform for you. FXTM’s specialization in forex, coupled with user-friendly platforms and a wealth of educational materials and webinars, positions it as a valuable choice for traders looking to delve deeper into the forex market.

Ultimately, the decision between Avatrade and FXTM hinges on your specific trading style, goals, and the importance you place on different features. By assessing your preferences regarding available trading instruments, educational resources, and platform usability, you can confidently select the platform that best aligns with your requirements and maximizes your trading potential.

Conclusion

In summary, Avatrade and FXTM are both respected trading platforms with unique offerings. Avatrade impresses with its diverse range of trading instruments, intuitive interface, social trading platform and advanced tools, appealing to those seeking a wide array of investment opportunities. On the other hand, FXTM stands out with its comprehensive forex services, educational resources, and user-friendly platforms, making it an appealing choice for traders focusing on the forex market. When making a decision between the two, it is crucial to consider your specific trading goals, preferences, and the types of financial instruments you intend to trade. By carefully evaluating these factors, you can confidently select the platform that best suits your needs and enhances your trading experience.


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