Comparison of Interactive Brokers vs AvaTrade [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theInteractive Brokers vs AvaTrade comparison!

Your expert: Alejandro Borja

Interactive Brokers

  • Threenvest valuation: 4,9/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 4 (BTC, ETH...) (CFDs)
Go crypto broker

Your expert: Xavier Tarrasó

avatrade

AvaTrade

  • Threenvest valuation: 4,5/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 11 (CFDs)
Go crypto broker

Main points

Fees

Low 4,4/5

Regulated

SEC, FCA

Demo account

Yes
Average 3,4/5

Fees

ASIC

Regulated

Yes

Demo account

Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.6 – Interactive Brokers charges low commissions (0.12% to 0.18% of trade value) with no added spreads or custody fees, making it one of the most cost-effective options for serious traders .
4.2 – AvaTrade stands out with no deposit or withdrawal fees and competitive spreads, making it a good option for frequent traders. The only drawback is the inactivity fee .

Level

Low 4,4/5
Average 3,4/5

Brief explanation

Interactive Brokers offers a competitive and transparent commission structure for cryptocurrency trading. The commission rates range from 0.12% to 0.18% of the trade value, with a minimum fee of $1.75 per order, capped at 1% of the trade value. This fee structure is notably lower than many competitors, who may charge up to 2.00% or include additional spreads and markups​​. Trading cryptocurrencies on Interactive Brokers’ platform does not incur any added spreads, markups, or custody fees. This is facilitated through their partnerships with Paxos Trust Company and Zero Hash LLC, both of which are regulated entities, ensuring a secure trading environment​​. Furthermore, clients can trade cryptocurrencies 24/7 when funds are transferred to their dedicated Paxos or Zero Hash account during normal US banking hours​​.
AvaTrade operates with a clear and competitive commission structure, making it an attractive choice for traders looking for cost efficiency. There are no fees for deposits or withdrawals, which is a significant advantage compared to many other platforms. Deposits can be made via credit and debit cards, wire transfers, and e-wallets like Skrill and Neteller, while withdrawals are processed within 1-5 business days, depending on the method used . AvaTrade charges spreads on cryptocurrency trades, with typical spreads being competitive. For example, the spread for Bitcoin against the US dollar (BTC/USD) is around 0.35%, and for Ethereum against the US dollar (ETH/USD), it’s about 0.60%. These spreads are within the industry standard, offering traders cost-effective trading opportunities . However, there are some non-trading fees to be aware of. AvaTrade imposes an inactivity fee of $50 per quarter after three months of inactivity and a $100 administrative fee after 12 months of inactivity. Additionally, overnight financing fees apply to positions held overnight, with rates varying depending on the asset . Despite these non-trading fees, AvaTrade’s overall fee structure is transparent and competitive, making it a favorable platform for active traders looking to minimize their costs.

Interactive Brokers

Read Interactive Brokers review
  • Year Founded: Established in 1978, Interactive Brokers has a long history of providing reliable and innovative trading solutions.
  • Security Methods: The platform uses top-tier security measures, including two-factor authentication and encryption, ensuring the safety of client assets and data.
  • Number of Users: Interactive Brokers boasts a large user base, serving over 1.6 million clients globally, which speaks to its reliability and popularity.
  • Regulation: The firm is regulated by major financial authorities, including the SEC, FINRA, and several international regulators, ensuring compliance with stringent financial laws.
  • Trading Volume and Liquidity: Interactive Brokers handles a high volume of trades daily, providing deep liquidity, which is crucial for effective trading execution and minimal slippage.
  • Pros
  • Low trading fees
  • No added spreads or markups.
  • Supports direct cryptocurrency trading.
  • Cons
  • Complex account setup process.
  • Limited cryptocurrency selection.

AvaTrade

avatrade
Read AvaTrade review
  • Regulated by Multiple Authorities: AvaTrade is regulated by several top-tier financial authorities, including the Central Bank of Ireland, ASIC in Australia, the Financial Sector Conduct Authority in South Africa, and the Financial Futures Association of Japan. This extensive regulatory oversight ensures a high level of security and compliance with international standards .
  • Established Track Record: Founded in 2006, AvaTrade has a long-standing presence in the financial industry. This longevity demonstrates the platform's resilience and reliability through various market cycles and financial crises .
  • Robust Security Measures: AvaTrade employs advanced security protocols to protect client funds and personal information. These measures include negative balance protection and the segregation of client funds from the company’s operational funds, ensuring that your investments are safeguarded against unforeseen events .
  • Comprehensive Customer Support: AvaTrade offers excellent customer service, available 24/5 via live chat, phone, and email. The support team is multilingual, responsive, and well-equipped to handle a wide range of trading-related queries, ensuring that users can get the help they need promptly .
  • Transparent Operations: AvaTrade maintains transparency in its operations, providing clear information about its fees, regulatory status, and security measures. This transparency builds trust and allows traders to make informed decisions about their investments
  • Pros
  • Heavily regulated, enhancing trading security.
  • Offers leverage up to 25:1.
  • Supports MetaTrader4 and AvaTradeGo platforms.
  • Cons
  • Limited range of cryptocurrencies offered.
  • Only supports CFDs, not actual ownership.

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Product selection

Native token

Interactive Brokers does not have a native token.
AvaTrade does not have a native token.

Earns

Interactive Brokers does not offer staking or similar earning options for cryptocurrencies. The platform allows trading and holding of cryptocurrencies .
AvaTrade does not provide earning options like staking for cryptocurrencies. The platform focuses on CFD trading .

NFT marketplace

Interactive Brokers does not have an NFT marketplace.
AvaTrade does not have an NFT marketplace.

Cripto/debit card

Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .
AvaTrade does not provide a card for its clients .

Company information

Full name

Interactive Brokers LLC​​.
AVA Trade EU Ltd​​.

Regulation

SEC, FINRA, CFTC, FCA, ASIC, SFC (Hong Kong)​​.
Central Bank of Ireland, BVIFSC, ASIC, FSCA, FSA, FFAJ, ADGM-FSRA, ISA​​.

Year founded

1977​​
2006​​

Founder

Thomas Peterffy​​
Emanuel Kronitz, Negev Nosatzki, Clal Finance​​

Payment methods

Transfers

Yes, Interactive Brokers accepts bank transfers for both deposits and withdrawals .
Yes, AvaTrade accepts bank transfers for both deposits and withdrawals .

Mastercard

No, Interactive Brokers does not accept Mastercard for deposits​​.
Yes, AvaTrade accepts Mastercard for deposits​​.

Wire transfer

Wise is not mentioned as a supported payment method .
Wise is not mentioned as a supported payment method .

Card

No, Interactive Brokers does not accept credit/debit cards .
Yes, AvaTrade accepts credit/debit cards .

Comparative table

Interactive Brokers Features AvaTrade
Interactive Brokers offers a low minimum trade amount, making it accessible for both small and large investors. This encourages new traders to start without significant capital.
Minimum Trade
Minimum trade size is accessible, starting from 0.01 lots, making it suitable for beginners.
The platform’s fees are among the lowest in the industry, which is a major advantage for frequent traders.
Trading and Transaction Fees
Competitive spreads, but inactivity and overnight fees can add up .
Currently, only eight cryptocurrencies are available, which limits options for traders looking for a diverse portfolio.
Number of Cryptocurrencies
Limited selection of 13 cryptocurrencies, including major ones like Bitcoin and Ethereum .
The platform offers limited crypto-to-crypto pairs, which restricts trading strategies for users looking to trade beyond major cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Offers crypto-to-crypto trading pairs, but the range is limited compared to specialized crypto exchanges .
Interactive Brokers provides clear and comprehensive information about their services and fees. However, the site could be more intuitive for beginners.
Website Transparency
The website is clear and informative, with comprehensive details about fees, trading conditions, and regulations .
Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .
Credit/Debit Card
AvaTrade does not provide a card for its clients .
The platform offers secure storage solutions through partnerships with regulated entities, ensuring the safety of users’ digital assets.
Storage Offering
Does not offer crypto wallets as it only deals in crypto CFDs .
Interactive Brokers does not currently offer staking or rewards programs, which could be a drawback for users looking for passive income opportunities.
Staking and Rewards
No staking or rewards programs available, which could be a drawback for some users .
The mobile and desktop platforms are highly rated for their functionality and user-friendly design, catering to both novice and experienced traders.
Mobile App and Desktop
AvaTradeGO mobile app and desktop platforms like MetaTrader 4/5 provide robust trading features and user-friendly interfaces .
The customer service is generally responsive and helpful. However, the complex account setup process can be a barrier for new users.
Customer Service
Multilingual customer support available 24/5 via live chat, phone, and email, but not 24/7 .
The platform provides efficient deposit and withdrawal processes with multiple options, although there is room for improvement in speeding up withdrawal times.
Deposit and Withdraw
Free deposits and withdrawals with various methods, though withdrawal processing can take up to five days

Key features

Analysis tools

Interactive Brokers offers the Trader Workstation (TWS) platform, which includes powerful trading tools and advanced charting capabilities. They also provide comprehensive market data and analysis tools .
AvaTrade offers the Guardian Angel risk management tool for MetaTrader 4 and 5, which provides real-time feedback on trading actions. AvaTrade also provides access to a wide range of technical indicators and charting tools within their trading platforms .

Mobile APP

Yes, Interactive Brokers offers the IBKR Mobile app for iOS and Android devices, providing comprehensive trading tools and account management features .
Yes, AvaTrade offers the AvaTradeGo mobile app, which is reliable and provides access to all trading tools and account management features .

Security

Interactive Brokers is regulated by top-tier US authorities like the SEC and FINRA, providing a high level of security and transparency. They offer SIPC insurance, protecting clients’ securities up to $500,000, including a $250,000 cash limit​​.
AvaTrade is regulated by multiple authorities, including the Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC). They provide negative balance protection for retail clients, ensuring investors cannot lose more than their account balance​​.

Additional features

Interactive Brokers allows clients to trade cryptocurrencies through Paxos or Zero Hash, offering a low commission rate of 0.12% to 0.18% of the trade value. They support a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and provide advanced trading tools through their Trader Workstation platform. Interactive Brokers also offer features like holding USD in crypto accounts and 24/7 trading .
AvaTrade is known for its extensive range of CFDs, including cryptocurrencies such as Bitcoin, Ethereum, Ripple, and more. They offer leverage up to 1:2 for EU clients and up to 1:25 for non-EU clients. AvaTrade also features the Guardian Angel tool for risk management, which gives instant feedback and advice tailored to each trader’s actions. Furthermore, they provide competitive spreads and have a variety of trading platforms, including MetaTrader 4 and 5 .

Anonymity

Anonymous accounts are not available. Interactive Brokers requires detailed personal information and identity verification .
Anonymous accounts are not available on AvaTrade. The registration process includes filling out personal information, financial details, and providing proof of identity and residence .

Key points

Available cryptocurrencies

Interactive Brokers allows both direct trading and CFDs for cryptocurrencies. The available cryptocurrencies for direct trading are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Additional coins are available through CFDs​​.
AvaTrade provides trading in cryptocurrency CFDs. The supported cryptocurrencies are Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH), EOS, NEO, Dash, Chainlink (LINK), Uniswap (UNI), Litecoin (LTC), Stellar (XLM), IOTA (MIOTA), and Ripple (XRP). Additionally, it offers a Crypto10 index​​.

User-friendliness

Interactive Brokers integrates cryptocurrency trading into its existing platform, allowing users to trade crypto alongside other asset classes. The platform offers low commissions and a professional-grade trading environment. However, the setup process might be more complex compared to dedicated crypto exchanges, which could be a drawback for less experienced users .
AvaTrade simplifies the crypto trading experience with a quick and fully digital account setup process. Users can start trading within minutes, which is significantly faster compared to traditional crypto exchanges. The platform supports multiple payment methods for deposits and withdrawals, making it convenient for global users. AvaTrade’s intuitive interface and support for various cryptocurrencies make it an excellent choice for beginners .

Value for money

Interactive Brokers is known for its low commissions and transparent pricing, making it a cost-effective choice for crypto trading. Its professional-grade trading tools add significant value, though the platform might be too complex for beginners​​.
AvaTrade provides a robust value for money with no deposit or withdrawal fees, though it charges an inactivity fee of $50 after three months of inactivity. The spreads on major cryptos are competitive, making it a good option for active traders​​.

Countries of operation

United States, Canada, United Kingdom, Ireland, Hungary, Australia, India, Japan, Hong Kong, Singapore .
Ireland, Japan, Australia, South Africa, United Arab Emirates, Israel .

Best for

Interactive Brokers is ideal for professional and experienced traders who want to trade cryptocurrencies alongside other asset classes. Its low commissions and professional-grade trading tools make it a strong choice for serious investors​​.
AvaTrade is great for traders who are interested in speculating on the price movements of major cryptocurrencies using CFDs. It’s particularly suitable for those who want to utilize leverage and trade within a highly regulated framework, although the limited number of available cryptocurrencies might be a drawback for some​​.

Account

Trading

Interactive Brokers offers limited direct cryptocurrency trading but provides access to crypto-related financial products. It is more focused on traditional investment products, making it less ideal for pure crypto trading.
AvaTrade supports crypto CFD trading with a range of popular cryptocurrencies. The platform is well-regulated and offers leverage, providing a secure environment for trading cryptos.

Deposit and withdrawal

Interactive Brokers allows deposits and withdrawals via bank transfers and wire transfers. The process is secure but can be slower, especially for international transfers. Fees may apply for withdrawals.
AvaTrade supports a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. The process is generally smooth, but withdrawal times can vary based on the method used.

Account opening process

The account opening process at Interactive Brokers is detailed and thorough. Users must provide extensive personal and financial information, and submit various verification documents. The process is fully digital but can take a few days for approval due to the comprehensive requirements.
Opening an account with AvaTrade is simple and fast. Users must complete an online registration form, provide personal information, and upload verification documents. The process is fully digital, and accounts are usually approved within a day.

KYC required?

Yes, KYC is required at Interactive Brokers. The account opening process includes submitting personal identification documents and proof of address.
AvaTrade requires KYC verification. Users need to submit identification documents and proof of address before they can start trading.

Customer Service

Interactive Brokers provides customer support via phone, email, and live chat. The support is available 24/5 and is generally responsive, though some users find the service to be slower during peak times due to high demand.
AvaTrade provides strong customer support through multiple channels including live chat, email, and phone. Their support is available 24/5 and is generally responsive, though some users report occasional delays in getting complex issues resolved.

Security

Interactive Brokers is regulated by top-tier US authorities like the SEC and FINRA, providing a high level of security and transparency. They offer SIPC insurance, protecting clients’ securities up to $500,000, including a $250,000 cash limit​​.
AvaTrade is regulated by multiple authorities, including the Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC). They provide negative balance protection for retail clients, ensuring investors cannot lose more than their account balance​​.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I highly recommend Interactive Brokers for those interested in integrating cryptocurrency trading with traditional financial instruments. The platform offers competitive fees, robust security, and seamless integration with other asset classes, making it an excellent choice for experienced traders looking to diversify their portfolios. While the account setup process can be complex, the advanced trading features and reliable customer support make it worth the effort. If you’re seeking a secure and cost-effective way to trade cryptocurrencies, Interactive Brokers is a solid option.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency enthusiast and expert at Threenvest, I highly recommend AvaTrade for its robust regulatory framework and user-friendly trading platforms. AvaTrade’s diverse range of trading instruments and excellent customer support make it a reliable choice for both new and experienced traders. While the selection of cryptocurrencies could be broader, and the inactivity fees lower, the overall security and ease of use make AvaTrade a strong contender in the world of crypto trading.

Read Interactive Brokers review

View all comparisons against Interactive Brokers

Read AvaTrade review

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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