How to Choose the Best Online Broker?
When you're choosing an online broker, there are a few things you should take into account to make sure you select the right one. This guide will show you what to look for when choosing a broker, so you can avoid some of the pitfalls that can occur. The first step a trader should be doing when looking for a broker is to simply compare.
Learn how and what you should look for when choosing an online broker. Firstly, make sure the broker is regulated by a reputable authority. Secondly, check that the broker offers a good selection of assets, instruments, and features. Thirdly, check the broker's fees and commissions. Fourth, make sure the broker has good customer service. Finally, check the broker's platform to make sure it is user-friendly and has all the perks you need.
When you've considered all of these factors, you'll be in a good position to select the right online broker for you.
We will compare for you:
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Regulations
Want to start trading but unsure which is the best broker?
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Reviews and social reputation
Want to start trading but unsure which is the best broker?
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Trading platforms
Want to start trading but unsure which is the best broker?
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Trading automation platforms
Want to start trading but unsure which is the best broker?
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Risk protection
Want to start trading but unsure which is the best broker?
Compare to find the best broker for you!
Every trader has their own unique needs and wants, but some factors are a must for all traders. Take a look at the table below and see which broker best caters to your needs. Data is based on the most recent information available on all 5 respective websites.
Regulations
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Reviews and social reputation
Every trader has their own unique needs and wants, but some factors are a must for all traders.
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Rated 4.7 on TrustPilot
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Rated 4.3 on TrustPilot
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Rated 4.3 on TrustPilot
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Rated 4.1 on TrustPilot
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Rated 4.3 on TrustPilot
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AvaTrade GO
Investing made social
4.5
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FxPro
Trading Platform
4.1
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eToro:
Investing made social
3.8
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Plus500
Trading
4.2
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CMC
4.2
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AvaTrade GO
Investing made social
4.7
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FxPro
Trading Platform
4.2
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eToro:
Investing made social
3.7
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Plus500
Trading
3.6
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CMC
3.7
Trading platforms
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Trading automation platforms
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Risk Protection
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Risk Protection
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Summary of benefits
Every trader has their own unique needs and wants, but some factors are a must for all traders.
Conclusion
With highest number of reputable regulatory jurisdictions, AvaTrade can be considered the safest and most reliable platform out of the 5 companies.
With near perfect score of 4.7 out of 5.00 AvaTrade has highest rating on TrustPilot according to its customers.
AvaTrade, Plus500 and FxPro all have similar platforms that enable users to trade with industry standard MT4/MT5, own web-based desktop and mobile platform and iOS / Android app for trading on-the-go. However, it should be mentioned that some of the Plus500’s platforms are restricted to US clients only.
AvaTrade seems to have the widest variety of trading automation platforms, while other brokers have one or none.
When it comes to risk protection, AvaTrade is the clear choice. With the ability to protect your trades and, for a small fee, even get your money back if you lose on a trade, AvaTrade stands out from the rest. AvaProtect is exclusively available only on the WebTrader and AvaTradeGO platforms.
Conclusion
With highest number of reputable regulatory jurisdictions, AvaTrade can be considered the safest and most reliable platform out of the 5 companies.
With near perfect score of 4.7 out of 5.00 AvaTrade has highest rating on TrustPilot according to its customers.
AvaTrade, Plus500 and FxPro all have similar platforms that enable users to trade with industry standard MT4/MT5, own web-based desktop and mobile platform and iOS / Android app for trading on-the-go. However, it should be mentioned that some of the Plus500’s platforms are restricted to US clients only.
AvaTrade seems to have the widest variety of trading automation platforms, while other brokers have one or none.
When it comes to risk protection, AvaTrade is the clear choice. With the ability to protect your trades and, for a small fee, even get your money back if you lose on a trade, AvaTrade stands out from the rest. AvaProtect is exclusively available only on the WebTrader and AvaTradeGO platforms.
So, to conclude what we examined,
here are 5 essential criteria you can’t afford to compromise on:
Trustworthiness
It’s crucial for the broker of your choice to be regulated and financially stable with an impeccable social reputation. You need to know your money is safe and no one is using it for their own benefit.
Professional trading platforms – A decent broker must provide its traders with access to professional trading platforms. From industry standard MT4/5 to mobile apps and web platforms, the broker must offer an abundance of those. Traders also need to make sure they have access to all the assets they are interested in trading (FX, options, CFDs on stock, commodities, indices and crypto)
Low fees
When trading, you need to ensure that the fees you’re paying are reasonable and not overly priced. If the broker is regulated by respected bodies, then the chances of them ‘tricking’ you do not exist.
Trading automation
Whether you intend to use EAs with MetaTrader, copy trading, trading signals or prefer writing your own algorithm, you need to make sure the broker you chose can support your trading needs. There’s nothing worse than being restricted by your broker and not having the options you need to fulfil your full potential. Compromising here can end up costing you a lot of money in potential revenue, if you had such access.
Risk protection
Some brokers offer protection that can dramatically reduce your risk of loss and can save you money. But the problem is that this feature is offered by very few brokers, if any, despite the fact that in today’s volatile markets, it’s a must for many traders.
Is AvaTrade
Your Winning Broker?
The answer is probably yes, as AvaTrade leads most,
if not all categories. If you’re interested in starting your trading journey with this broker, you can get started by clicking the button below.
