AvaTrade vs FXCL

AvaTrade or FXCL – which is better for UK traders 2024? Compare AvaTrade and FXCL in this detailed breakdown of their platforms, features and fees.

AvaTrade vs FXCL Comparison Table 2024
AvaTrade FXCL
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4.9
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1.8
AvaTrade is ranked #1 among CFD brokers. FXCL is ranked #97 among CFD brokers.
Review
Review
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, alongside a comprehensive education center and multilingual customer support. FXCL is an offshore brokerage registered with the VFSC. The firm uses ECN execution to offer spreads from 0.0 pips. There are no deposit or withdrawal fees and access to reliable trading tools, including MetaTrader 4. Several promotions are also available including demo contests with cash prizes and deposit bonuses.
Pros
  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for traders
  • The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
  • Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
  • There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing
  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
  • Traders can access stable spreads and zero commissions with no hidden fees
  • Regular trading contents with cash prizes, referral schemes and incentives for new and existing traders
  • Integrated MT4 web platform and mobile app with analysis tools and custom charting
  • Loss-free trading insurance for account balances of $500+
  • Multiple account options including a Cent solution for beginners
  • Copy trading service for a hands-off investment approach
  • Very high leverage up to 1:2000
  • Fast deposits and withdrawals
Cons
  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • There’s an above-average $50 inactivity fee after three months, though this won't impact active traders
  • It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
  • There is no ECN account with raw spreads
  • Traders from the US are not accepted
  • Higher than average fees with spreads above 1 pip on forex during tests
  • Deposit and withdrawal fees apply if minimums are not met
  • Very basic education and market research that trails the best brokers
  • Low trust score with weak regulation
  • US traders not accepted
Awards
  • Best Mobile Trading Platform 2023 - Finance Derivative
  • Best Educational 2023 - Global Business Magazine
  • Best Overall Broker 2022 - DayTrading.com
  • Best Trading App 2021 - DayTrading.com
  • Best Forex Broker 2019 - DayTrading.com
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting CFDs, Forex, Cryptos, Commodities
Demo Account
Yes Yes
Minimum Deposit
$100 $1
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM SVG FSA
Mobile Apps
iOS & Android iOS & Android
Trading App

AvaTradeGO consistently impresses with its comprehensive mobile trading experience, boasting an interface that’s not just easy to use, but genuinely intuitive. Navigating the app is a breeze, ensuring fast access to hundreds of markets, including forex, stocks, indices, commodities, ETFs, and bonds. However, what sets AvaTradeGO apart is its AvaProtect™ feature, offering an unmatched level of risk protection that’s rare to find elsewhere.
iOS App Rating
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4.3
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Android App Rating
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4
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Margin Trading
Yes Yes
Margin Rate
2%
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
No No
AlgoTrader
Yes No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
Yes No
STP Account
Yes No
ECN Account
No Yes
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
AvaTrade maintains a top position when it comes to social and copy trading tools. Traders can access the proprietary AvaSocial app as well as popular third-party platforms, DupliTrade and ZuluTrade. The comprehensive performance metrics can help you find the right strategy provider for your goals and risk appetite.
Social Trading
Yes No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$50
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • USD
  • EUR
  • MYR
  • NGN
Commodities
  • Gold
  • Oil
  • Silver
  • Copper
  • Cotton
  • Corn
  • Coffee
  • Sugar
  • Gasoline
  • Palladium
  • Cocoa
  • Wheat
  • Precious Metals
  • Platinum
  • Natural Gas
  • Soybeans
  • Lithium
  • Cannabis
  • Oil
  • Silver
  • Natural Gas
CFD
AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. You can speculate on underlying assets in the broker’s feature-rich web and mobile platforms with market-leading research tools to help discover opportunities. FXCL offers 100+ contracts for difference spanning forex, indices and crypto. Traders get 24/5 customer support alongside fast execution speeds and a low minimum deposit of $1.
Leverage
1:30 (Retail) 1:400 (Pro) 1:2000
FTSE Spread
0.5 130
GBPUSD Spread<
1.5 0.4
Oil Spread
0.02 5
Stocks Spread
0.13 N/A
Forex
AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education. FXCL clients can trade more than 40 major, minor and exotic currency pairs with regular and ECN execution models on the MT4 platform. Spreads on currencies start from 0.1 pips.
Assets
50+ 43
GBPUSD Spread
1.5 0.4
EURUSD Spread
0.9 0.1
EURGBP Spread
1.5 0.4
Currency Indices
  • USD
Cryptocurrency
Regulated in five continents, AvaTrade offers a secure way to access crypto markets. There's a great range of digital currencies including Bitcoin, Ethereum and Ripple, plus a crypto index. You can access competitive crypto spreads in the broker's wide choice of platforms as well as 1:2 leverage. FXCL supports trading on three cryptos (BTC, ETH and LTC), pegged against the US dollar. However, this is a very limited selection that doesn't rival the best crypto brokers.
Spread
BTC <1%, ETH 2% Variable
Coins
  • BCH
  • BTC
  • BTG
  • ETH
  • LTC
  • XRP
  • EOS
  • DASH
  • BTC
  • LTC
  • ETH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
AvaTrade FXCL
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