Compare AvaTrade vs EagleFX
What is AvaTrade? What is EagleFX?
AvaTrade is a leading forex and CFD broker that was established in 2006 and is regulated in nine jurisdictions, including Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4, MT5, Web Trader, Mobile App, Vanilla Options and Social Trading. AvaTrade also provides access to over 1,250 financial instruments, educational content and multi-language customer support active 24/7. AvaTrade offers a 20% welcome bonus for new clients in some countries.
EagleFX is a forex and cryptocurrency STP broker that was founded in 2019 and is not regulated by any major authority. EagleFX uses the MT4 platform and offers tight spreads, low commissions, high leverage up to 1:500, and fast withdrawals. EagleFX also supports trading on various assets, including currencies, commodities, stocks, indices and cryptos. EagleFX has a 24/7 customer support team and accepts Bitcoin payments.
AvaTrade vs EagleFX Regulation Comparison
AvaTrade is regulated by nine authorities across six continents, which gives it a high level of credibility and trustworthiness. These regulators are: ASIC (Australia), CBoI (Ireland), FSA (Japan), FSCA (South Africa), FSB (South Africa), ISA (Israel), ADGM/FSRA (Abu Dhabi), BVIFSC (British Virgin Islands), and IIROC/Friedberg Direct (Canada). AvaTrade also complies with strict global standards for client protection, such as segregated accounts, investor compensation schemes, negative balance protection, and secure encryption.
EagleFX is not regulated by any major financial authority, which means that it does not have to follow any rules or standards for client safety or fair trading practices. EagleFX claims to be registered in the Commonwealth of Dominica, but this does not provide any legal or regulatory oversight. EagleFX does not offer any guarantees for client funds, such as segregated accounts or compensation schemes. EagleFX also does not provide negative balance protection or encryption for its website or platform.
AvaTrade vs EagleFX Trading Assets Comparison
AvaTrade offers a wide range of trading assets across different categories, such as forex, stocks, commodities, indices, ETFs, bonds, crypto, spread betting and options. AvaTrade has over 1,250 instruments available for trading on its platforms. Some of the popular assets that AvaTrade offers are: EUR/USD, GBP/USD, USD/JPY, XAU/USD (gold), USOIL (oil), SPX500 (S&P 500 index), AAPL (Apple stock), BTC/USD (Bitcoin), ETH/USD (Ethereum), and many more.
EagleFX offers a smaller selection of trading assets compared to AvaTrade. EagleFX mainly focuses on forex and crypto trading, but also provides some CFDs on indices, stocks and commodities. EagleFX has around 200 instruments available for trading on its platform. Some of the popular assets that EagleFX offers are: EUR/USD, GBP/USD, USD/JPY, XAU/USD (gold), USOIL (oil), NAS100 (Nasdaq 100 index), AAPL (Apple stock), BTC/USD (Bitcoin), ETH/USD (Ethereum), and some more.
AvaTrade vs EagleFX Trading Fees Comparison
AvaTrade charges no commissions on its trades, but instead applies spreads and swaps as its main trading fees. AvaTrade offers fixed spreads on most of its instruments, which means that the difference between the bid and ask prices remains constant regardless of market conditions. AvaTrade’s spreads are generally low and competitive compared to other brokers. For example, the average spread for EUR/USD is 0.9 pips. AvaTrade also charges overnight swap fees for holding positions past the market closing time. These fees vary depending on the instrument and direction of the trade.
EagleFX charges both commissions and spreads on its trades, but its spreads are variable and depend on market liquidity and volatility. EagleFX claims to offer raw ECN spreads that are sourced from multiple liquidity providers. EagleFX’s spreads are usually very tight and low compared to other brokers. For example, the average spread for EUR/USD is 0.1 pips. However, EagleFX also charges a commission of $6 per lot per round trip on every trade. This means that the total cost of trading with EagleFX can be higher than with AvaTrade depending on the trade size and frequency. EagleFX also charges swap fees for holding positions overnight.
AvaTrade vs EagleFX Account Types Comparison
AvaTrade offers three main types of accounts for its clients: Retail account, Professional account and Islamic account. The Retail account is the standard account type for most traders, which offers leverage up to 1:400, negative balance protection, hedging and scalping. The Professional account is for experienced traders who can prove their trading knowledge and skills, and who can access higher leverage up to 1:400, but without negative balance protection. The Islamic account is for traders who follow the Shariah law and who want to trade without interest or swap fees. The minimum deposit for all accounts is $100.
EagleFX offers only one type of account for its clients: the Standard account. The Standard account is suitable for both beginners and experienced traders, as it offers leverage up to 1:500, no restrictions on hedging or scalping, and same-day withdrawals. The Standard account does not offer negative balance protection or Islamic trading options. The minimum deposit for the Standard account is $10.
AvaTrade vs EagleFX Deposit Options Comparison
AvaTrade supports a variety of payment methods for depositing and withdrawing funds from its accounts. These include credit/debit cards, wire transfer, PayPal, Skrill, Neteller, WebMoney, Perfect Money, FasaPay, JCB Card, MoneyGram, Western Union and Boleto. AvaTrade does not charge any fees for deposits or withdrawals, but some payment providers may apply their own fees or limits. The processing time for deposits is usually instant or within one business day, while the processing time for withdrawals is usually within one to two business days.
EagleFX supports only three payment methods for depositing and withdrawing funds from its accounts. These are credit/debit cards, wire transfer and Bitcoin. EagleFX does not charge any fees for deposits or withdrawals, but some payment providers may apply their own fees or limits. The processing time for deposits is usually instant or within one business day, while the processing time for withdrawals is usually within 30 minutes or less.
AvaTrade vs EagleFX Trading Platforms Comparison
AvaTrade offers multiple trading platforms for its clients to choose from, depending on their preferences and needs. These include MT4, MT5, Web Trader, Mobile App, Vanilla Options and Social Trading. MT4 and MT5 are the most popular and widely used platforms in the forex industry, which offer advanced charting tools, indicators, expert advisors and automated trading. Web Trader is a web-based platform that does not require any download or installation, and that offers a user-friendly interface and easy access to the markets. Mobile App is a mobile version of the Web Trader that allows traders to trade on the go from their smartphones or tablets. Vanilla Options is a platform that allows traders to trade forex options with various expiry times and strike prices. Social Trading is a platform that allows traders to copy the trades of other successful traders or join a trading community.
EagleFX offers only one trading platform for its clients: MT4. MT4 is a well-known and reliable platform that offers fast execution speeds, low latency, customizable charts, technical analysis tools, expert advisors and automated trading. MT4 is available as a desktop application, a web-based version or a mobile app.
AvaTrade vs EagleFX Analytical Tools Comparison
AvaTrade provides various analytical tools and resources for its clients to enhance their trading performance and skills. These include economic calendar, market news, trading blog, trading calculator, trading central signals, autochartist pattern recognition tool, sharp trader academy and avasocial app. Economic calendar shows the upcoming events and data releases that may affect the markets. Market news provides the latest updates and analysis on the financial markets. Trading blog covers various topics related to trading strategies, education and tips. Trading calculator helps traders to calculate their margin, profit and loss, pip value and swap fees. Trading central signals provide market insights and trade ideas based on technical analysis. Autochartist is a tool that scans the markets for potential trading opportunities based on chart patterns and indicators. Sharp trader academy is an online learning platform that offers courses, videos and quizzes on various aspects of trading. Avasocial app is an app that allows traders to copy the trades of other successful traders or join a trading community.
EagleFX does not provide any analytical tools or resources for its clients apart from the ones available on the MT4 platform. These include charting tools, indicators, expert advisors and automated trading.
AvaTrade vs EagleFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading goals and risk appetite. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. Both AvaTrade and EagleFX are reputable forex brokers that offer different features and services to their clients. The best broker for you depends on your personal preferences, trading goals and risk appetite. You may want to try out both brokers using their demo accounts or live accounts with small deposits before making your final decision.
