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Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.
In the fast-paced world of forex trading, choosing the right broker is crucial. AvaTrade and Spreadex are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms, helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between AvaTrade and Spreadex across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated AvaTrade and Spreadex, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.
In our comparison:
Based on these findings, AvaTrade earned a higher trust rating than Spreadex.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that Spreadex has overall lower trading costs than AvaTrade.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both AvaTrade and Spreadex offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Spreadex offers a greater variety of instruments compared to AvaTrade:
For those interested in trading cryptocurrencies, AvaTrade offers 30 cryptocurrencies, while Spreadex offers 8 cryptocurrencies. Therefore, AvaTrade is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Spreadex charges a withdrawal fee and AvaTrade does not. Overall, Spreadex has better deposit and withdrawal processes than AvaTrade.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
AvaTrade has better educational support than Spreadex. Both AvaTrade and Spreadex offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that AvaTrade offers better research analysis than Spreadex and that both AvaTrade and Spreadex offer frequent webinars.
As one of the best all-around Forex brokers, AvaTrade will be an attractive choice for most traders. AvaTrade has low trading fees, a wide range of trading instruments, and a choice of four different trading platforms. AvaTrade offers some of the best trading tools in the industry, alongside a world-class selection of educational and market analysis materials.
AvaTrade is also popular for its award-winning mobile app which has great risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.
One major drawback for Indian traders considering Avatrade is that they are onboarded through Avatrade’s BVI-regulated entity, which means that they are not as well protected as their international counterparts.
Founded in 1999, Spreadex is a large sports and spread betting broker with a CFD division that offers a low-cost trading environment on a wide range of tradable assets. However, support is limited to its proprietary platform and Spreadex offers virtually no trading tools.
Spreadex offers one live commission-free CFD account with no minimum deposit requirement and spreads starting at 0.60 pips on the EUR/USD, which is significantly tighter than other similar brokers. Spreadex also stands out for the number of financial assets on offer, including over 3000 share CFDs, 200 ETFs, over 60 Forex pairs, 31 commodities, indices, and a small range of cryptocurrencies (though under FCA regulations cryptos are only available for professional traders).
Some drawbacks for traders considering Spreadex are that it offers no demo account, an unusual move considering Spreadex only offers trading on its proprietary platform. It also offers little in the way of educational or market analysis materials, forcing beginner traders to educate themselves elsewhere.
Overall, Spreadex will appeal to traders who value a low-cost trading environment and a vast range of tradable assets.
For more detailed reviews, please read our comprehensive assessments of AvaTrade and Spreadex.
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Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
