AvaTrade
Pros
- Regulated by CBI, ASIC, JFSA, FSCA, ADGM FRSA, CIRO, and BVI FSC across multiple jurisdictions
- Commission-free trading on CFD and forex instruments
- No deposit or withdrawal fees
- Free demo account with $100,000 virtual funds and no time limit
- Wide platform choice including MT4, MT5, WebTrader, AvaTradeGO, AvaOptions, and TradingView
- Vanilla FX options trading via dedicated AvaOptions platform
- Copy trading available via DupliTrade and AvaSocial
- Islamic swap-free accounts available
Cons
- $50 per quarter inactivity fee after 3 months of dormancy is high relative to competitors
- $100 annual administration fee after 12 months of inactivity
- No real stock ownership - equities are traded as CFDs only
- EUR/USD spread of around 0.9 pips is above the industry average for standard accounts
- Bitcoin spread notably higher than industry average
- Not available to US residents
- UK entity in supervised run-off - no new UK retail clients accepted