4.2 / 5
Rating breakdown
Things we didn't like:
The product portfolio is limited as it offers only CFDs, forex, and cryptosThe research tools are limited
Why would you want an alternative to AVATRADE?
AvaTrade offers a user-friendly platform and a wide range of tradable products, but there are some drawbacks to consider. If you're a casual trader or one who values in-depth research and analysis tools, AvaTrade might not be the best fit. Here's why you might want to explore other brokers:
- High Inactivity Fees: If you're not a frequent trader, AvaTrade's inactivity fee can significantly eat into your returns. Other brokers offer more lenient policies for occasional traders.
- Limited Account Flexibility: With only one account type, AvaTrade may not cater to diverse trading styles. Some brokers offer specialized accounts with features tailored to scalpers, long-term investors, or those seeking higher leverage.
- Outdated Desktop Platform: AvaOptions, their desktop platform for options trading, feels clunky compared to their sleek mobile app. If you prefer a desktop experience, other brokers might offer more advanced and user-friendly interfaces.
- Restricted Access to Instruments: Over a quarter of AvaTrade's instruments are currently unavailable for trading. This can be limiting, especially if you have specific assets in mind.
- Limited Research Resources: AvaTrade's research offering is basic, with limited analysis tools and reports. If you rely heavily on research to make informed trades, other brokers provide more comprehensive resources.
What other users do not like about AvaTrade
AvaTrade TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, AvaTrade has currently 8.7k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.50/5.00.
Main Complains according to the Users' Reviews
- Cold Callers wouldn't stop phoning me
What to look for in a AVATRADE Alternative?
If the drawbacks of AvaTrade, like high inactivity fees or limited research, don't align with your trading needs, consider these factors when choosing an alternative broker:
- Account Options: Look for a broker with account types tailored to your trading style. Do you prefer lower spreads or higher leverage? Do you need Islamic accounts or specific margin requirements?
- Platform Functionality: Evaluate the desktop and mobile platforms offered by potential brokers. Consider features like charting tools, order types, and ease of use. If you primarily trade options, ensure the platform offers a robust options trading experience.
- Research and Analysis: If in-depth research is important to you, prioritize brokers with extensive educational resources, advanced charting tools, and comprehensive market analysis reports.
- Fees and Inactivity Policies: Compare fees across different brokers, including spreads, commissions, and inactivity fees. Choose a broker with a fee structure that aligns with your trading frequency.
- Available Instruments: Ensure the broker offers the specific instruments you want to trade, whether it's a wide variety of forex pairs, a large selection of CFDs, or specific options contracts.
Best AVATRADE alternatives – forex brokers like (or better than) AVATRADE
4.3 / 5
Rating breakdown
Things we liked:
Up to 500:1 leverageLow minimum deposit requirement
Things we didn't like:
Absence of a direct telephone number for customer supportOspreyfx is not a fully licensed and regulated broker
OspreyFX Overview
Named after the very large, distinctively shaped, fish preying hawk, which suitably decorates the brand’s logo, OspreyFX is a relatively new entrant in the world of forex brokerages, aiming to offer existing and aspiring traders an innovative venue in which they can satisfy all their trading needs, including the trading of cryptocurrencies.
4.0 / 5
Rating breakdown
Things we liked:
XM has low trading feesThe account opening is user-friendly and fast
Lots of educational tools
Things we didn't like:
XM has a limited product portfolioThe research tools are limited
It charges inactivity fees
XM Overview
XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.
3.9 / 5
Rating breakdown
Things we liked:
Multiple social copy trading platforms are available.Pepperstone is regulated in three Tier-1 jurisdictions, two Tier-2 jurisdictions, and two Tier-4 jurisdictions.
Things we didn't like:
Mostly CFDs offeredMetaTrader platform is basic
Slow live chat
Pepperstone Overview
Pepperstone is a Forex and CFD broker headquartered in Australia, offering 156 tradable assets across five different trading platforms. Pepperstone offers a small set of tradeable products but provides forex and CFD traders with competitive pricing and one of the largest selections of third-party platforms, including numerous options for social copy trading.