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Broker Score | Min. Deposit | Regulation | Trading Desk Type | Trading Instruments | Forex Pairs | Crypto Pairs | Pros | Cons | Regulation | Trading Conditions | Trading Platforms | Deposit & Withdrawal | Education & Research | Assets Available | Customer Service | % Lose with this broker | Leverage | Spread | Hedging | Scalping | Account Types | Islamic Account | Trading Platforms | Funding Methods | Trading Commission | ||
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USD 100 | Market Maker | Commodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals | 50 | 23 |
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| Read Review | 73% | 200:1 | 1.50 pips | Yes | Yes | Bronze, Gold, Gold ECN, Platinum, Premium, Silver | Yes | MT4, WebTrader | Bank Transfer, Visa, Mastercard, Neteller, Fasapay | Fees Included in Spread | ||||||||||
USD 100 | Market Maker | Bonds, Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Vanilla Options | 55 | 20 |
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| Read Review | 76% | 400:1 | 0.90 pips | Yes | Yes | Islamic, Professional, Retail | Yes | MT4, MT5, Avatrade Social, AvaOptions | Skrill, WebMoney, Neteller, Bank Transfer, Mastercard, Visa, Maestro, POLi, Klarna, Paypal, Ozow | Fees Included in Spread |
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 FX Scouts, 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 CM Trading, 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.
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 CM Trading holds no Tier 1 and no Tier 2 licences.
Based on these findings, AvaTrade earned a higher trust rating than CM Trading.
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 AvaTrade has overall lower trading costs than CM Trading.
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 and CM Trading offers support for .
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 CM Trading offer copy trading.
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 CM Trading. AvaTrade offers 55 Forex pairs to trade and CM Trading offers 50 Forex pairs to trade.
In this case, CM Trading offers 23 cryptocurrencies while AvaTrade offers 20 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with CM Trading.
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 neither AvaTrade nor CM Trading charges a withdrawal fee. Overall, AvaTrade has better deposit and withdrawal processes than CM Trading.
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 CM Trading. Both AvaTrade and CM Trading offer educational support for more experienced traders.
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 0 offers better research analysis than 0 and that both AvaTrade and CM Trading offer frequent webinars.
AvaTrade is an internationally regulated beginner-friendly CFD broker offering trading on Forex, cryptocurrencies, commodities, indices, stocks, bonds, vanilla options, and ETFs. AvaTrade has received extensive industry recognition for AvatradeGO, one of the most popular mobile trading applications available globally and, unlike many European brokers, has a local Nigerian customer support team.
AvaTrade’s single commission-free account has a minimum deposit requirement of 100 USD and has average trading costs for a market maker broker, with spreads starting at 0.90 pips on the EUR/USD. In terms of trading platforms, AvaTrade offers a wider choice than most brokers, with support MT4, MT5, AvaOptions, and its proprietary web trader platform. The same is true for the trading tools available, with Avatrade offering Trading Central, Duplitrade, and AvaProtect, its own innovative risk management system. Furthermore, Avatrade does not charge any deposit or withdrawal fees and provides an excellent selection of educational materials to get new traders started.
Founded in 2012 in South Africa, CM Trading is a market maker with high ongoing trading costs and high minimum deposits compared to other Forex brokers operating in Nigeria. CM Trading offers six trading accounts, including two ECN accounts, and offers trading on multiple instruments, including Forex, indices, cryptocurrencies, commodities, oil, and metals.
Minimum deposits start at 250 USD on its entry-level account with average spreads at 1.5 pips on the EUR/USD. Minimum deposits escalate quickly, with the Premium Account requiring a minimum deposit of 100,000 USD but still featuring relatively high ongoing trading costs.
In addition to the high minimum deposits and trading costs, a significant drawback for beginner traders is the lack of educational and market analysis materials offered at CM Trading. CM Trading charges high deposit and withdrawal fees compared to most other brokers, but local customer service is generally excellent.
Like most Forex brokers, CM Trading supports the MT4 platform and allows for all trading strategies including hedging, scalping, signal trading and algo trading. In addition, it also provides support for Sirix Webtrader - a rare web-based trading platform that runs in browsers on all devices. Sirix comes with a selection of trading tools, including the Guardian Angel system - which provides automated feedback on your trading style - and the CopyKat copy trading system.