AvaTrade Alternatives - Better Forex Brokers for 2024
Find out the major disadvantages of AvaTrade Forex Brokers and alternatives with lower fees and more security. Unbiased AvaTrade Alternatives reviews.
So which brokers are better than AvaTrade? Want to jump straight to the answer? OspreyFX is the best alternative broker to AvaTrade in 2024 .

4.2 / 5

Rating breakdown

Security
70%
3.5/5
Ease of Use
90%
4.5/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
60%
3.0/5

Things we didn't like:

 The product portfolio is limited as it offers only CFDs, forex, and cryptos
 The 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  • Outdated Desktop Platform: AvaOptions, their desktop platform for options trading, feels clunky compared to their sleek mobile app.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 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

Best AvaTrade Alternatives

4.3 / 5

Rating breakdown

Security
80%
4.0/5
Ease of Use
80%
4.0/5
Tradable Assets
100%
5.0/5
Deposit and withdrawal
80%
4.0/5
Trading Fees
100%
5.0/5
Support
80%
4.0/5

Things we liked:

 Up to 500:1 leverage
 Low minimum deposit requirement

Things we didn't like:

 Absence of a direct telephone number for customer support
 Ospreyfx is not a fully licensed and regulated broker

#1
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

Security
80%
4.0/5
Ease of Use
100%
5.0/5
Tradable Assets
50%
2.5/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
80%
4.0/5
Support
70%
3.5/5

Things we liked:

 XM has low trading fees
  The account opening is user-friendly and fast
 Lots of educational tools

Things we didn't like:

 XM has a limited product portfolio
 The research tools are limited
 It charges inactivity fees

#2
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

Security
100%
5.0/5
Ease of Use
80%
4.0/5
Tradable Assets
50%
2.5/5
Deposit and withdrawal
100%
5.0/5
Trading Fees
70%
3.5/5
Support
70%
3.5/5

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 offered
 MetaTrader platform is basic
 Slow live chat

#3
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.

AvaTrade Alternatives Frequently Asked Questions (FAQs):

Are there any sites like AvaTrade?
Yes, there are many sites offering similar services like AvaTrade. Those include OspreyFX, XM and many more. If you are to look for an alternative to AvaTrade for your forex trading needs, then you must make sure it is one with a better offering.
Who are AvaTrade Top Competitors?
AvaTrade 's top competitors in July 2024 are: OspreyFX, XM and more. OspreyFX is currently rank as the number one on the list of top Forex brokers.

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