In the fast-paced world of forex trading, choosing the right broker is crucial. AvaTrade and FP Markets 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 FP Markets 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 FP Markets, 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 FP Markets.
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 FP Markets 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 FP Markets offer copy trading.
A broader range of CFD instruments provides more trading opportunities. FP Markets offers a greater variety of instruments compared to AvaTrade:
For those interested in trading cryptocurrencies, AvaTrade offers 30 cryptocurrencies, while FP Markets offers 11 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 FP Markets charges a withdrawal fee and AvaTrade does not. Overall, AvaTrade has better deposit and withdrawal processes than FP Markets.
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 FP Markets. Both AvaTrade and FP Markets 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 FP Markets and that both AvaTrade and FP Markets offer frequent webinars.
Considered one of the best all-round brokers, Avatrade will be an attractive choice for most traders. Our review found that Avatrade has a wide range of tradable assets, low trading fees, and a choice of four different trading platforms. In addition, AvaTrade offers some of the best trading tools in the industry alongside a world-class selection of educational and market analysis materials, providing traders with everything they need to make trading decisions.
Avatrade is also popular for its award-winning mobile app, AvatradeGO, which has excellent risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.
FP Markets is a well-regulated Forex broker with an excellent stock trading platform designed for more experienced stock pickers. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets' customer service.
In terms of fees, FP Markets has an “ECN pricing” model, which it claims provides “extremely competitive” costs. Unfortunately, we found that the fees on its MT4 and MT5 trading accounts were higher than most of its ECN competitors. But FP Markets does make it easy for beginners to get started, with 50 GBP minimum deposits and unlimited demo accounts.
FP Markets also stands out for its support for active and professional stock traders. FP Markets is one of few brokers offering the IRESS suite of trading platforms. These Direct Market Access platforms provide access to 10,000+ international stocks, but the basic IRESS account requires a minimum deposit of 1000 USD and commissions are charged on most trades.
For more detailed reviews, please read our comprehensive assessments of AvaTrade and FP Markets.
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Broker | Regulated by FCA | Licenced by | Min. Deposit | Cost of Trading | Broker Score | Official Site | Compare |
---|---|---|---|---|---|---|---|
Yes | USD 0 | USD 10 | |||||
No | USD 25 | USD 6 | |||||
Yes | USD 100 | USD 6 | |||||
No | USD 100 | USD 9 | |||||
No | USD 5 | USD 6 | |||||
No | AUD 100 | USD 6 | |||||
No | USD 200 | USD 8 | |||||
Yes | USD 0 | USD 10 | |||||
No | AUD 0 | USD 4.50 |
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.