SimpleFX vs AvaTrade

SimpleFX vs AvaTrade Comparison Table 2024
SimpleFX AvaTrade
4.2
4.9
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

SimpleFX is an offshore forex, CFD and cryptocurrency broker with over 200,000 clients globally. The broker offers a proprietary trading solution, as well as the reputable MT4 platform. Traders can access a vast selection of digital assets with crypto deposits and multi currency accounts.

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 day trading, alongside a comprehensive education center and multilingual customer support.

Customer Reviews
4.3
Bonus Offer
20% Welcome Bonus up to $10,000
Comment by Reviewer
"SimpleFX is best for crypto traders looking for staking services and a social trading community to exchange ideas and signals." "AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
Pros
  • API & VPS support
  • SimpleFX crypto coin
  • Fast customer service
  • Beginner-friendly platform
  • Multi-currency single account
  • Lightning fast Bitcoin payments
  • Community forum to share trading ideas
  • Crypto staking solution with no starting deposit
  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day 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
  • Day traders can access stable spreads and zero commissions with no hidden fees
Cons
  • Weak regulatory oversight
  • No MetaTrader 5 integration
  • Limited non-crypto funding methods
  • 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 day 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
Awards
  • The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw
  • Best Mobile App 2020 - Rankia Awards
  • The Best Trading Platform, Finance World Expo 2019 - Zug
  • Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
  • 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
Instruments
Forex, indices, shares, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$0 $100
Trading Platforms
  • MT4
  • WebTrader
  • AvaTradeGO
  • AvaOptions
  • MT4
  • MT5
  • AlgoTrader
  • TradingCentral
  • DupliTrade
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM
Margin Trading
Yes Yes
Margin Rate
2%
STP Account
Yes Yes
ECN Account
No No
DMA Account
Yes Yes
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
Yes No
Negative Balance Protection
Yes Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS, Android + Web Trader iOS & Android
App Review

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.

Android App Rating
4
iOS App Rating
4.3
Auto Trading
Yes Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
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 Yes
Trade Signals
Yes Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
3% $50
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
Stock Exchanges
Commodities
CFD Trading
Go long or short on over 170 CFDs with high leverage up to 1:500. The broker's social community is also a great place to pick up CFD strategy tips and trading ideas. 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.
Leverage
1:500 1:30 (Retail) 1:400 (Pro)
FTSE Spread
1.3 0.5
GBPUSD Spread
1.2 1.5
Oil Spread
0.03 0.02
Stocks Spread
Variable 0.13
Forex Trading
SimpleFX offers a competitive suite of 60 forex pairs with average spreads of 0.9 pips. The charting features are extensive, with convenient mobile and desktop access for all experience levels. 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.
Forex App

AvaTrade provides AvaTradeGo for mobile trading. The app offers 1000+ markets, the ability to create watchlists and make trades. The AvaProtect™ feature even adds another layer of risk protection. Rated 4.2* , it is one of the more popular trading apps. Download it today.

GBPUSD Spread
1.2 1.5
EURUSD Spread
0.9 0.9
EURGBP Spread
0.9 1.5
Assets
60 50+
Currency Indices
  • USD
Cryptocurrency
SimpleFX offers popular crypto coins including Bitcoin and Ethereum paired with the USD. Traders benefit from feature-rich analysis tools as well as a bespoke staking service where capital can be used for margin trading. 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.
Spread
From 0.0001 BTC <1%, ETH 2%
Coins
  • BTC
  • BHC
  • LTC
  • ETH
  • ETC
  • XRP
  • LNK
  • WAV
  • XTZ
  • YFI
  • ADA
  • DOT
  • EOS
  • NEO
  • BNB
  • XMR
  • BCH
  • BTC
  • BTG
  • ETH
  • LTC
  • XRP
  • EOS
  • DASH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
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