AvaTrade vs eToro vs Swissbank: forex brokers comparison
Forex brokers such as AvaTrade, etoro and Swissquote are essential in the world of forex trading. It is the brokers that provide the platform for trading for the various clients. A forex broker is a service firm that provides clients with the ability to trade on multiple instruments on offer, usually providing services and offers such as spreads and leverage up to 400:1. Many forex brokers have set shop to serve their several clients. A forex broker will be chosen over another by the trading conditions offered, ease in trade executions, the flexibility of the broker and client support among many other parameters. Clients will go for the best broker offering the best combination of the favourable parameters.
AvaTrade Vs E Toro Vs Swissquote: how to choose your online broker
Among the best forex in the business right now are AvaTrade, E Toro and Swissquote brokers. All are brokers with a large clientele base. This large number of clients is owed to their favourable conditions. The debate has been raging on as to who of the three brokers is the best. In a bid to settle and end this rivalry we will focus on the companies in relation to certain aspects of trading.
Bonus And Parner Code: Avatrade wins
All of these brokers try to make their clients feel special and also help in engaging them in their trading conquests. As a result, all of these brokers have promotions and partner code that run on their websites. The clients will take part in these promotions, and if they meet the set conditions, they will be entitled to a gift or reward. These promotions also function to help in fostering of an excellent broker to client relations which is good for business. Among the promotions that these brokers run are as follows.
- AvaTrade has a welcome bonus promotion. In this promotion, a new client with a newly opened account will benefit from a stipulated bonus. The client, however, should make a minimum of 1000 units of a chosen base currency to claim this reward. Using our exclusive Avatrade partner code 88907 will help get the most out of your registration.
- E Toro as the refer-a-friend promotion. To participate in this promotion, a client will need to refer his or her friends to the site. Upon the successful referral which will include a deposit by the referred client, the client who made the referral will get a stipulated bonus.
- Swissquote has the sponsor-a-friend promotion. In this promotion, a client will need to sponsor your friend or acquaintance, which is referring them to the Swissquote site. Upon the successful referral leading to a deposit, the client will receive CHF100 into their accounts for trading.
These are the various promotions that these traders have at their online platforms. On which has the most lucrative offers, we will have to check the multiple aspects of the bonuses. Regarding payout, AvaTrade takes the lead with the $200 bonus on a deposit of $1000. Avatrade is more lucrative based on the payout amount. Regarding simplicity, Swissquote takes the lead as it is straightforward to get the bonus. AvaTrade can also be said to be simple in the acquisition of its rewards as it only requires a cash deposit. At times referrals can be hectic to conduct. On easy of redeeming the bonuses, the lead goes to AvaTrade once again as it is effortless to use its gifts.
AvaTrade takes a lot of leads in the bonuses and promotions hence it makes the win in this category.
AvaTrade was founded in 2006 with the primary aim of providing unique trading facilities to traders and also to improve on the overall online experience of such traders. It has stuck to this goal which has resulted in its ultimate growth to become one of the best in the forex sector. It has its offices in Dublin which also double up as its main headquarters. Its increase in client numbers has compelled AvaTrade to get offices in other regions to bring its services closer to its clients. This growth has seen it establish offices in Paris, Milan, Tokyo and Sydney. It has all the licenses in check that permit AvaTrade to run its operations in those territories.
E Toro was founded in Israel in 2006 with the driving factor of providing trading facilities to everyone and reducing dependency on traditional financial institutions. It is noted for its technological approach to improving its overall trading conditions. This incorporation of technology has made it attract many clients from all over the world who want a piece of its great trading conditions. Its headquarters are in Tel Aviv in Israel where it was founded, but with the increase in client numbers, it has been compelled to open other regional offices. These offices are located in London in the United Kingdom and Limassol in Cyprus.
This forex dealing branch of Swissquote group holdings is based in Gland, Switzerland. Swissquote has been in the forex trading industry for almost two decades, and thus it has the advantage of experience and expertise on matters related to forex trading. In the many years that it has been present in the forex industry, Swissquote has managed to grow its clientele-base drastically. At the moment it has clients from all over the globe who trade actively on its platform. These large number of clients is mostly due to its favourable trading conditions that entice the traders. Among the territories that Swissquote carries its operations from including Malta, Hong Kong and the United Arab Emirates among many other areas.
Spreads And Slippage: AvaTrade wins
Spreads lie in the trading conditions that these brokers offer. A spread is the difference between the buying price offered against the selling prices of a financial trading instrument in forex trading. The difference is expressed as pips. Slippage, on the other hand, is the difference in the expected trading price of a financial trading instrument from the price it was executed on.
All of these traders offer tight floating spreads as to be seen below.
- Swissquote has tight spreads starting from 1.8 pips.
- E Toro has tight floating spreads which go up to 2.9 pips.
- AvaTrade also features tight spreads that go up to 3.0 pips.
E Toro has some of the most lucrative pips among the three traders. Its spreads range from 1.5 to 2.9 which are great values.
Products Range and Leverage Effect: Avatrade wins
The product in this setting are the financial instruments of trade as well as additional services that the broker may offer. For a broker to be considered excellent, they will need to have a vast range of trading instruments so as clients have a broad range of choices in picking their preferred instruments. All the three brokers in question have excellent products in trading instruments as well as additional services that can be found on their online platform. The following are some of the products that these brokers have.
- AvaTrade has indices, commodities, currency pairs, stocks, bonds and ETFs. On top of this, it also has cryptocurrency trading and the Islamic account. This is such a strong product range. Also, you’ll enjoy a 400:1 leverage effect, which is highly appreciable if you want to maximize your profit, but also the risk.
- Swissquote has stocks, indices, cryptocurrency units, shares, warranties and derivatives options and futures and ETFs. It also has commodities and bonds on top of having the special Islamic account for Muslim clients.
- E Toro has stocks, commodities, currency pairs, CFDs, indices and cryptocurrencies. E Toro also has extra services such as the copy trading concept, the Islamic account and the affiliate marketing program. In 2018, Etoro limited the leverage effect in order to limit the risks taken by the traders to 100:1
All of the brokers, in this case, have an extensive product range with Swissquote having more financial instruments than AvaTrade and E Toro. E Toro can be said to take the lead in this setting due to its high number in financial trading instruments and also in its vast services. Services such as social trading will allow its clients to replicate the trading procedures of other traders into their own. The affiliate marketing feature will allow signed up affiliates to earn as specified commission upon the successful referral of a client to it.
All of them have the Islamic account that allows its clients who are Muslims to trade in an interest-free environment. Also, all of the brokers feature cryptocurrency trading that enables the client to execute trades on the various cryptocurrency units. Among the cryptocurrency units from all the brokers that a client can pick as a financial instrument are the Bitcoin, the Litecoin, Etherum and ripple.
E Toro picks up the lead in the product range category.
Fees And Commissions eToro wins
The brokers may also charge some fees in transaction costs or charge a commission on the clients’ trading activities. All the brokers have some expenses that are charged in one way or another as seen below.
- AvaTrade incurs charges on spreads, overnight interest, maturity rollover, inactivity fees and also corporate actions. A minimum deposit of $100 is also needed to start your trading activities.
- E Toro has no trading fees, but it has spread fees and commissions. The minimum amount requires to get your account operational is $100 which is quite affordable.
- Swissquote charges some fee on account maintenance especially if it is dormant, flat fee trades for high trade volumes and also quarterly custody fees. Its minimum initial deposit is $1.
On fees and commissions, E Toro has the least expenses to be incurred hence it takes the lead.