How to Choose the Best Online Broker?
Life is all about choices, and we are here to make it easier for you and help you choose the best broker for your needs. The first step a trader should be doing when looking for a broker is to simply compare. We’ve gathered some key factors and information we believe are crucial for a trader’s success, so let’s start!
Want to start trading but unsure which is the best broker?
We’ve prepared a convenient table with all the necessary features.
In this table, we compare:
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Regulations
Want to start trading but unsure which is the best broker?
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Reviews and social reputation
Want to start trading but unsure which is the best broker?
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Trading platforms
Want to start trading but unsure which is the best broker?
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Trading automation platforms
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Risk protection
Want to start trading but unsure which is the best broker?
Compare to find the best broker for you!
Every trader has their own unique needs and wants, but some factors are a must for all traders. Take a look at the table below and see which broker best caters to your needs. Data is based on the most recent information available on all 5 respective websites.
Regulations
Every trader has their own unique needs and wants, but some factors are a must for all traders.
FFAJ
The Financial Futures Association of Japan Financial Services Agency Japan
IIROC
Friedberg Direct - Investment Industry Regulatory Organization of Canada
BVIFSC
British Virgin Islands Financial Services Commission
CySEC
Cyprus Securities and Exchange Commission
ADGM / FSRA
Abu Dhabi Global Markets Financial Services Regulatory Authority
FSCA
South Africa’s Financial Sector Conduct Authority
ISA
Israel Securities Authority
CBI
Central Bank of Ireland
ASIC
Australian Securities and Investments Commission
CySEC
Cyprus Securities and Exchange Commission
SCB
Securities Commission of The Bahamas
ASIC
Australian Securities and Investments Commission
FCA
Financial Conduct Authority - South Africa’s Financial Sector
CySEC
Cyprus Securities and Exchange Commission
MiFID
Markets in Financial Instruments Directive
ASIC
Australian Securities and Investments Commission
FCA
Financial Conduct Authority - South Africa’s Financial Sector
ISA
Israel Securities Authority
CySEC
Cyprus Securities and Exchange Commission
MiFID
Markets in Financial Instruments Directive
ASIC
Australian Securities and Investments Commission
FCA
Financial Conduct Authority - South Africa’s Financial Sector
Reviews and social reputation
Every trader has their own unique needs and wants, but some factors are a must for all traders.
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Rated 4.8 on TrustPilot
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Rated 4.3 on TrustPilot
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Rated 4.3 on TrustPilot
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Rated 4.1 on TrustPilot
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Rated 4.4 on TrustPilot
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AvaTrade GO
Investing made social
4.7
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FxPro
Trading Platform
4.5
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eToro:
Investing made social
4.6
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Plus500
Trading
4.5
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Capital.com
Online Broker
4.5
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AvaTrade GO
Investing made social
4.8
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FxPro
Trading Platform
4.4
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eToro:
Investing made social
4.4
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Plus500
Trading
4.5
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Capital.com
Online Broker
4.3
Disclaimer: the ratings shown above are valid up until XX.XX, for United Kingdom.
Trading platforms
Every trader has their own unique needs and wants, but some factors are a must for all traders.
MT4, MT5
DupliTrade
AvaTradeGO
WebTrader
AvaOptions
MT4, MT5
FxPro
Trading Platform
cTrader
Desktop platform
eToro
App and web platform
Plus500 app
Plus500 CFD
Plus500 Futures
(*US Clients only)
Plus500 Invest
Plus500 Futures
Capital.com
App and web platform
Trading automation platforms
Every trader has their own unique needs and wants, but some factors are a must for all traders.
cTradet
CopyTrader
Risk Protection
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Risk Protection
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Summary of benefits
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Conclusion
The table suggests AvaTrade is a clear winner in almost every criteria. When you look at regulations, AvaTrade has the greatest number, making it the safest, most reliable company out of the 5.
When checking social reputation, AvaTrade is rated the highest on TrustPilot, with a near perfect score of 4.7.
When it comes to trading platforms, it seems like AvaTrade, Plus500 and FX Pro all have similar platforms, enabling users to trade with industry standard MT4/5, a dedicated app or desktop. It is worth mentioning that some of Plus500’s platforms are restricted to US clients only.
As for trading automation platforms, it seems like AvaTrade has the widest variety, while other brokers have one or none.
Finally, when comparing risk protection, there is no doubt which broker takes the crown – AvaTrade. The only broker out of the 5 sampled that provides its clients with the possibility of protecting their trades and for a small fee, even getting their money back in case they lost on a trade.
When calculating the results, it seems that AvaTrade is the best option for traders who are interested in a reliable, regulated, innovative broker with a wide variety of trading platforms and an excellent reputation.
Conclusion
The table suggests AvaTrade is a clear winner in almost every criteria. When you look at regulations, AvaTrade has the greatest number, making it the safest, most reliable company out of the 5.
When checking social reputation, AvaTrade is rated the highest on TrustPilot, with a near perfect score of 4.7.
When it comes to trading platforms, it seems like AvaTrade, Plus500 and FX Pro all have similar platforms, enabling users to trade with industry standard MT4/5, a dedicated app or desktop. It is worth mentioning that some of Plus500’s platforms are restricted to US clients only.
As for trading automation platforms, it seems like AvaTrade has the widest variety, while other brokers have one or none.
Finally, when comparing risk protection, there is no doubt which broker takes the crown – AvaTrade. The only broker out of the 5 sampled that provides its clients with the possibility of protecting their trades and for a small fee, even getting their money back in case they lost on a trade.
When calculating the results, it seems that AvaTrade is the best option for traders who are interested in a reliable, regulated, innovative broker with a wide variety of trading platforms and an excellent reputation.
So, to conclude what we examined,
here are 5 essential criteria you can’t afford to compromise on:
Trustworthiness
It’s crucial for the broker of your choice to be regulated and financially stable with an impeccable social reputation. You need to know your money is safe
and no one is using it for their own benefit.
Professional trading platforms – A decent broker must provide its traders with access to professional trading platforms. From industry standard MT4/5
to mobile apps and web platforms, the broker must offer an abundance of those. Traders also need to make sure they have access to all the assets they are interested in trading (FX, options, CFDs on stock, commodities,
indices and crypto)
Low fees
When trading, you need to ensure that the fees you’re paying are reasonable and not overly priced. If the broker is regulated by respected bodies, then the chances of them ‘tricking’ you do not exist.
Trading automation
Whether you intend to use EAs with MetaTrader, copy trading,
trading signals
or prefer writing your own algorithm, you need to make sure the
broker you chose can support your trading needs. There’s nothing
worse than being restricted by your broker and not having the
options you need to fulfil your full potential. Compromising here can
end up costing you a lot of money in potential revenue,
if you had such access.
Risk protection
Some brokers offer protection that can dramatically reduce your risk
of loss and can save you money. But the problem is that this feature
is offered by very few brokers
if any, despite the fact that in today’s volatile markets, it’s a must
for many traders.
Is AvaTrade
Your Winning Broker?
The answer is probably yes, as AvaTrade leads most,
if not all categories. If you’re interested in starting your trading journey with this broker, you can get started by clicking the button below.
