Compare SimpleFX vs AvaTrade
What is SimpleFX? What is AvaTrade?
SimpleFX is an online broker that was established in 2014 and offers trading on various assets, such as forex, crypto, stocks, commodities, and indices. SimpleFX has a variable spread pricing model and supports multiple payment methods, including cryptocurrencies. SimpleFX also provides a web-based trading platform, as well as MetaTrader 4 and a mobile app.
AvaTrade is an online broker that was founded in 2006 and offers trading on over 1,250 assets, such as forex, crypto, stocks, futures, options, and ETFs. AvaTrade has a fixed spread pricing model and accepts various payment methods, such as credit cards, e-wallets, and wire transfers. AvaTrade also provides several trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, AvaOptions, AvaSocial, and a mobile app.
SimpleFX vs AvaTrade Regulation Comparison
SimpleFX is not regulated by any financial authority. This means that traders may face higher risks and lower protection when trading with SimpleFX.
AvaTrade is regulated by nine financial authorities in six continents. These include the ASIC in Australia, the FSCA in South Africa, the ISA in Israel, the FSA in Japan, the FSRA in the United Arab Emirates, the CBI in Ireland, the FSC in the British Virgin Islands, the CySEC in Cyprus, and the IIROC in Canada. This means that traders can enjoy a high level of security and trust when trading with AvaTrade.
SimpleFX vs AvaTrade Trading Assets Comparison
SimpleFX offers trading on around 170 assets, including 60 forex pairs, 15 crypto pairs, 50 stocks, 11 indices, 9 commodities, and 25 crypto CFDs.
AvaTrade offers trading on over 1,250 assets, including 55 forex pairs, 14 crypto pairs, over 600 stocks, over 20 indices, over 25 commodities, over 40 ETFs, over 40 options, over 10 bonds, and spread betting.
SimpleFX vs AvaTrade Trading Fees Comparison
SimpleFX does not charge any commissions or fees on trading. However, it applies variable spreads that depend on market conditions and liquidity. The average spread for EUR/USD is around 1.2 pips, while the average spread for BTC/USD is around $10.
AvaTrade does not charge any commissions or fees on trading either. However, it applies fixed spreads that are predetermined and do not change with market fluctuations. The average spread for EUR/USD is around 0.9 pips, while the average spread for BTC/USD is around $50.
SimpleFX vs AvaTrade Account Types Comparison
SimpleFX only offers one type of account for all traders. The minimum deposit is $1 and the maximum leverage is 1:500. The account supports hedging and automated trading but does not offer Islamic or PAMM accounts.AvaTrade offers three types of accounts for different traders. These are the Retail account, the Professional account, and the Islamic account. The minimum deposit is $100 and the maximum leverage varies from 1:30 to 1:400 depending on the account type and the asset class. The accounts support hedging, scalping, automated trading, and copy trading but do not offer PAMM or managed accounts.
SimpleFX vs AvaTrade Deposit Options Comparison
SimpleFX supports a wide range of deposit and withdrawal options, including Skrill, Neteller, FasaPay, Crypto (Bitcoin and others), Litecoin, Dash, Ethereum, Monero, Crypto Cash, Zcash, Ethereum Classic, Tether (USDT), Dogecoin, Tron, USD Coin (USDC), Dai (DAI), EOS.IO, Binance Coin, and Ripple. There are no fees or limits for deposits or withdrawals.
AvaTrade supports a limited range of deposit and withdrawal options, including WebMoney, Skrill, Wire transfer, Credit/debit cards, Neteller, and UnionPay. There are no fees for deposits or withdrawals but there are minimum amounts and processing times depending on the method.
SimpleFX vs AvaTrade Trading Platforms Comparison
- SimpleFX provides three trading platforms for its clients. These are:
- MetaTrader 4: A popular platform that offers advanced charting tools, indicators, expert advisors, and customisation options.
- Mobile Trading Platform: A mobile app that allows traders to access the markets from anywhere and anytime. It supports Android and iOS devices and offers basic trading functions and features.
- WebTrader: A web-based platform that does not require any download or installation. It has a user-friendly interface and offers one-click trading, trailing stop, pending orders, and social trading features.
- AvaTrade provides seven trading platforms for its clients. These are:
- MetaTrader 4: The same platform as SimpleFX.
- MetaTrader 5: An upgraded version of MetaTrader 4 that offers more assets, more order types, more indicators, and more tools.
- WebTrader: A web-based platform that is compatible with MetaTrader 4 and MetaTrader 5. It has a simple and intuitive interface and offers risk management tools, market news, and analysis.
- AvaOptions: A platform that is dedicated to trading options. It allows traders to buy and sell calls and puts, create custom strategies, and hedge their positions.
- AvaSocial: A platform that is designed for social and copy trading. It allows traders to follow and copy the actions of other successful traders, chat with them, and learn from them.
- AvaTradeGO: A mobile app that is compatible with MetaTrader 4 and MetaTrader 5. It has a user-friendly interface and offers exclusive features, such as AvaProtect (a risk management tool that protects trades from losses for a specified period) and Market Trends (a tool that shows the sentiment of other traders).
- DupliTrade: A platform that is also focused on social and copy trading. It allows traders to choose from a selection of strategy providers and automatically replicate their trades.
SimpleFX vs AvaTrade Analytical Tools Comparison
- SimpleFX offers some analytical tools for its clients, such as:
- Trading Ideas: A feature that allows traders to share their trading ideas with others and earn revenue share.
- SimpleFX Blog: A blog that provides market news, analysis, tutorials, and trading tips for various assets and platforms.
- AvaTrade offers more analytical tools for its clients, such as:
- Economic Calendar: A tool that shows the upcoming economic events and their impact on the markets.
- Trading Calculator: A tool that helps traders calculate their potential profits, losses, margins, and risks.
- Autochartist: A tool that scans the markets for trading opportunities based on technical analysis and patterns.
- Sharp Trader: A tool that provides educational resources, market analysis, trading signals, and daily videos for traders of all levels.
SimpleFX vs AvaTrade. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading experience and results. There are many factors to consider, such as regulations, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms and analytical tools.
- Regulation: AvaTrade is regulated by nine financial authorities in six continents, while SimpleFX is not regulated by any financial authority. This means that AvaTrade offers more security and trust for traders than SimpleFX.
- Trading Assets: AvaTrade offers over 1,250 assets, including forex, crypto, stocks, futures, options, and ETFs, while SimpleFX offers around 170 assets, including forex, crypto, stocks, commodities, and indices. This means that AvaTrade offers more diversity and choice for traders than SimpleFX.
- Trading Fees: Both brokers do not charge any commissions or fees on trading , but they have different pricing models. AvaTrade applies fixed spreads that are predetermined and do not change with market fluctuations, while SimpleFX applies variable spreads that depend on market conditions and liquidity. This means that AvaTrade offers more stability and transparency for traders than SimpleFX.
- Account Types: AvaTrade offers three types of accounts for different traders: Retail, Professional, and Islamic. The minimum deposit is $100 and the maximum leverage varies from 1:30 to 1:400 depending on the account type and the asset class. SimpleFX only offers one type of account for all traders. The minimum deposit is $1 and the maximum leverage is 1:500. This means that AvaTrade offers more flexibility and customization for traders than SimpleFX.
- Deposit and Withdrawal Options: SimpleFX supports a wide range of deposit and withdrawal options, including cryptocurrencies, e-wallets, and wire transfers. There are no fees or limits for deposits or withdrawals. AvaTrade supports a limited range of deposit and withdrawal options, including credit cards, e-wallets, and wire transfers. There are no fees for deposits or withdrawals but there are minimum amounts and processing times depending on the method. This means that SimpleFX offers more convenience and speed for traders than AvaTrade.
- Trading Platforms: Both brokers provide MetaTrader 4 as a trading platform , which is a popular platform that offers advanced charting tools, indicators, expert advisors, and customization options. However, AvaTrade also provides six other trading platforms for its clients: MetaTrader 5, WebTrader, AvaOptions, AvaSocial, AvaTradeGO, and DupliTrade. These platforms offer different features and functions, such as more assets, more order types, more indicators, more tools, options trading, social trading, copy trading, risk management tools, market news, analysis, trading signals, and daily videos. This means that AvaTrade offers more variety and innovation for traders than SimpleFX.
- Analytical Tools: Both brokers offer some analytical tools for their clients , such as market news, analysis, tutorials, trading tips, and trading ideas. However, AvaTrade also offers more analytical tools for its clients, such as an economic calendar, a trading calculator, Autochartist, Sharp Trader, AvaProtect, and Market Trends. These tools help traders to monitor the markets, calculate their potential profits, losses, margins, and risks, scan the markets for trading opportunities based on technical analysis and patterns, access educational resources, and see the sentiment of other traders. This means that AvaTrade offers more support and guidance for traders than SimpleFX.
Based on this comparison, AvaTrade is probably a better forex broker than SimpleFX. It offers more security, variety, stability, flexibility, customization, variety, innovation, support and guidance to traders than SimpleFX. However, you should do your own research and decide which broker suits your needs and preferences best.
