Forex broker head-to-head comparison checklist

Use before any head-to-head comparison. 12 factors EU retail traders must evaluate side by side.

Broker A (e.g. Exness)

Broker B (e.g. AvaTrade)

Checklist progress 0 / 12 completed

CRITICAL

1. Regulatory status

Verify both brokers are regulated by an EU/EEA authority

Acceptable: CySEC (Cyprus), FCA (UK — note: FCA regulated brokers have separate EU entity requirements post-Brexit), BaFin (Germany), MFSA (Malta). Reject any broker offering only offshore regulation (Belize, Seychelles) for EU retail accounts.

Broker A regulator

Broker B regulator

Verify ICF or FSCS membership

CySEC brokers: check ICF membership (up to €20,000 compensation per client). FCA brokers: check FSCS membership (up to £85,000). Verify on the regulator's official register — do not rely on the broker's own website.

Broker A compensation

Broker B compensation

COST

2. Spread and commission costs

Compare EUR/USD typical spread on the account type you will use

Get the spread from the broker's live demo account — not the marketing page. Standard account spread typically 0.6–1.6 pips. Raw/ECN account typically 0.0–0.1 pips + commission per lot. Use the cost calculator to compare total cost per $100,000 lot.

Broker A EUR/USD spread

Broker B EUR/USD spread

Check commission per lot (if applicable)

Raw/ECN accounts charge a commission per side or per round trip. Common range: $3.50–$7.00 per standard lot per side. Add this to spread cost for total comparison. If one broker shows 0 pips spread + high commission, calculate the effective spread equivalent.

Broker A commission/lot

Broker B commission/lot

Check inactivity fee policy

Some brokers charge monthly fees if you do not trade. AvaTrade: €50/month after 3 months. XM: €5/month after 90 days. IC Markets, Pepperstone, Exness: no inactivity fee. Critical if you plan to trade infrequently.

Broker A inactivity fee

Broker B inactivity fee

RULES

3. Leverage and margin

Verify EU retail leverage limits apply

EU retail accounts are subject to ESMA caps: 30:1 major pairs, 20:1 minor pairs, 10:1 commodities, 5:1 equities, 2:1 crypto. If a broker offers higher leverage to EU retail accounts, they may be routing you through an offshore entity — a red flag.

Broker A max retail leverage

Broker B max retail leverage

Check margin call and stop-out levels

EU regulations require a 50% margin call threshold and a close-out at 50% of minimum required margin. Verify the broker does not deviate from this. Also check negative balance protection — mandatory for EU retail accounts.

Broker A margin call %

Broker B margin call %

ACCOUNT

4. Deposits, withdrawals, and minimum account

Check minimum deposit requirement

Minimums range from €0 (Pepperstone) to €300+ (IG). For beginners, keep minimum deposit under €200 until you are confident. Higher minimums are not necessarily a quality signal.

Broker A min deposit

Broker B min deposit

Verify withdrawal method and fee

Most EU brokers offer free withdrawals via bank transfer. eToro charges a flat $5 USD withdrawal fee. Check if card withdrawals are free. Verify processing time — typically 1–3 business days for bank transfer.

Broker A withdrawal fee

Broker B withdrawal fee

PLATFORM

5. Platform and tools

Confirm platform availability for your device

All major brokers offer MT4 and/or MT5. Check if the broker supports your device (Windows/Mac/iOS/Android). cTrader is available at Pepperstone and IC Markets — preferred by algorithmic traders. TradingView integration is available at Pepperstone.

Broker A platforms

Broker B platforms

Check copy trading / social trading availability

eToro CopyTrader, Exness Social Trading, Pepperstone Copytrading (via cTrader), IC Markets cTrader Copy — all available. IG and CMC Markets do not offer copy trading. Required if you plan to use social trading features.

Broker A copy trading

Broker B copy trading

Checklist complete

Review your comparison notes above. The broker that scores better on regulation, spread costs, and platform fit for your trading style is the stronger choice for EU retail traders.

EU-regulated brokers to compare

Both brokers below are CySEC regulated and have no minimum deposit requirement. Use the checklist above to compare them.

Exness

CySEC regulated · €10 min deposit · From 0.0 pips (Zero account) · No inactivity fee

Visit Exness →

AvaTrade

CySEC regulated · €100 min deposit · From 0.9 pips · Note: €50/mo inactivity fee after 3 months

Visit AvaTrade →

Frequently asked questions

What is the most important factor when comparing forex brokers?

Regulation is the single most important factor. EU retail traders should only use brokers regulated by CySEC, FCA, or BaFin. Regulation determines investor compensation limits (up to €20,000 with ICF), negative balance protection requirements, and leverage limits.

What leverage can EU retail traders use?

Under ESMA regulations, EU retail traders are limited to 30:1 leverage on major currency pairs, 20:1 on minor pairs, 10:1 on commodities, 5:1 on individual equities, and 2:1 on cryptocurrency CFDs.

How do I calculate the real cost of a forex trade?

The total cost = (spread in pips × pip value) + commission (if any) + overnight swap (if holding overnight). For a standard lot (100,000 EUR/USD) a 1.0 pip spread costs approximately $10. Use the EU Forex Trade Cost Calculator for exact figures.

Do all brokers charge an inactivity fee?

No. Exness, Pepperstone, IC Markets, RoboForex, and Deriv charge no inactivity fee. AvaTrade charges €50/month after 3 months of inactivity — the highest of any major broker. XM charges €5/month after 90 days.

What is the difference between a raw/ECN account and a standard account?

A raw/ECN account passes on the interbank spread directly (often 0.0–0.1 pips on EUR/USD) and charges a separate commission per lot. A standard account includes the spread markup but charges no commission. For high-volume traders, raw accounts are typically cheaper overall.