How do AvaTrade and RoboForex stack up against each other?
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare AvaTrade and RoboForex, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Does AvaTrade or RoboForex have a better trust and regulation rating?
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that AvaTrade holds three Tier 1 and two Tier 2 licences, and RoboForex holds no Tier 1 and no Tier 2 licences.
Is AvaTrade financially regulated?
Yes AvaTrade was founded in 2006 and is regulated by ASIC, CBI, CySEC, FRSA, FSA-Japan, FSCA and ISA.
Is RoboForex financially regulated?
No RoboForex is not adequately regulated.
Based on these findings, AvaTrade earned a higher trust rating than RoboForex.
Does AvaTrade or RoboForex have lower costs?
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that RoboForex has overall lower trading costs than AvaTrade.
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Does AvaTrade or RoboForex offer a better choice of trading platforms?
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, AvaTrade offers support for AvaOptions, Avatrade Social, MT4 and MT5 and RoboForex offers support for MT4 and MT5.
Do the brokers offer copy trading?
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both AvaTrade and RoboForex offer copy trading.
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Which broker offers a better choice of trading instruments?
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that AvaTrade offers a greater range and depth of instruments to trade than RoboForex. AvaTrade offers 63 Forex pairs to trade and RoboForex offers 40 Forex pairs to trade.
And what about Cryptocurrencies?
In this case, AvaTrade offers 30 cryptocurrencies while RoboForex offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with AvaTrade.
Which broker offers better deposit and withdrawal processes?
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that RoboForex charges a withdrawal fee and AvaTrade does not. Overall, AvaTrade has better deposit and withdrawal processes than RoboForex.
Which broker offers better educational support?
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
AvaTrade has better educational support than RoboForex. Both AvaTrade and RoboForex offer educational support for more experienced traders.
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Which broker offers better market analysis materials?
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that AvaTrade offers better research analysis than RoboForex and that both AvaTrade and RoboForex offer frequent webinars.
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Our overall Verdict on AvaTrade
In our review we found that Avatrade has a wide range of tradable assets, low trading fees, and a choice of four different trading platforms. Avatrade offers some of the best trading tools in the industry, alongside a world class selection of educational and market analysis materials, providing traders everything they need to make trading decisions.
Avatrade is also popular for its award-winning mobile app, AvatradeGO, which has great risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.
One issue South African traders may have with Avatrade is that even though it is regulated by the South African FSCA and has a local South African support team, South Africans will be onboarded through Avatrade’s British Virgin Islands-based entity. This means that South African traders have no recourse in the event of a dispute with the company.
Our overall Verdict on RoboForex
With a wide range of financial instruments available on four different trading platforms (MT4, MT5, cTrader, and R Stock Trader), RoboForex appeals to traders who value low trading costs and a broad range of account choices.
RoboForex offers four live CFD accounts with a minimum deposit of only 10 USD. The commission-free CFD accounts have a spread of 0.00 pips, which is slightly wider than other brokers, but traders can choose to trade in smaller trade sizes, known as micro-lots. The ECN and Prime Accounts have spreads that start at 0 pips (EUR/USD) but commissions of only 4 USD and 2 USD, respectively - some of the lowest in the industry.
RoboForex also stands out for the number of financial instruments on offer, including over 12,000 stocks, 1,000 ETFs, 100 commodities, 40 Forex pairs, 26 crytpocurrencies, and indices. Support is offered for numerous trading platforms, including industry favourites such as MT4, MT5, and cTrader in addition to its intuitive and easy-to-set up R-trader.
In conjunction with third-party provider, Claws and Horns, RoboForex's educational and market analysis materials are well-organized and in-depth, a real benefit to beginner traders.
One drawback is that although RoboForex is an international broker, it is only regulated by the IFSC in Belize, which means that regulatory oversight is weaker than other brokers. Additionally, traders should be aware that RoboForex charges high withdrawal fees.
Which broker has the highest overall rating?
AvaTrade has an overall rating of 4.59 and RoboForex has an overall rating of 3.00. For more detail please read our reviews of
AvaTrade and
RoboForex.
