Home Forex Brokers AvaTrade Broker Review

AvaTrade Broker Review

697
0
AvaTrade Broker

AvaTrade is a trusted forex and CFDs broker that is famous for its availability of trading platforms. Based on our findings, it is excellent in its copy trading service and competitive in the diversification of trading platforms. Moreover, the industry average pricing and the education service may attract investors to assist this broker. 

Company details

AvaTrade was initially founded in 2006 under AvaFX. It is headquartered in Dublin, Ireland. The broker specializes in trades in Bitcoins, commodities, stocks, ETFs, bonds, and market indices. 

Since its inception, the broker has come a long way and now has a global client base of over 200,000 accounts. The broker conducts more than two million transactions monthly, and their total value often exceeds $60 billion.  

AvaTrade strives to provide its clients with the broadest range of services and products. Its ambitions are backed by significant financial resources and a client-oriented approach. Confirmation of the above is the variety of trading platforms available on AvaTrade and the multilingual support service available 24 hours a day on weekdays.

In addition to its office in Dublin and Ireland, AvaTrade also has a network of representative offices in all major cities and countries: Milan, Nigeria, Paris, Shanghai, South Africa, Sydney, Tokyo, and Ulaanbaatar in Mongolia.

Regulations

AvaTrade is a multi-regulated broker from different authorities. Based on the official site, the broker is regulated:

  • By the Israel Securities Authority (514666577).
  • By the Central Bank of Ireland (C53877).
  • By the BVI Financial Services Commission.
  • Ava Capital Markets Australia Pty Ltd — by the ASIC (406684).
  • By the South African Financial Sector Conduct Authority (FSCA 45984).
  • By the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) (190018).
  • By the Financial Services Agency (1662), the Financial Futures Association of Japan (1574).
  • By the Cyprus Securities and Exchange Commission (347/17).

Available markets

Now, we will see the list of available markets on the AvaTrade platform. In AvaTrade, you can diversify your trading portfolio from forex, stocks, indices, commodities, and cryptocurrencies. 

Forex

  • AvaTrade offers forex trading liquidity from several Tier-1 liquidity providers.
  • It is possible to trade majors, minors, exotics with a single platform.
  • FX trading is allowed in MT4, MT5, and brokers’ proprietary platforms.
AvaTrade Broker - Forex

CFDs trading

  • The broker offers trading opportunities with seven regulations across six continents.
  • Large availability of CFDs on ETFs, stocks, bonds, commodities, etc.
  • Availability of multiple trading platforms for CFDs trading.
AvaTrade Broker - CFDs trading

Cryptocurrencies

  • Trading opportunity in the world’s famous cryptocurrencies: Bitcoin, Ethereum, Ripple, etc.
  • Crypto trading in MT4, MT5, or AvaTrade Go Platforms.
  • No wallet is required. Traders can directly trade with their investment in AvaTrade.
  • No hidden fees or commissions for crypto trading.
AvaTrade Broker - Cryptocurrencies

Account overview

AvaTrade differentiates account types based on clients’ requirements and regulations. For retail traders, the retail account (EU) or the standard account (for the rest of the world) is suitable for most individual traders.

Ava Trade EU LtdAva Trade Ltd
Trading productsFX, CDFs, FX options, spread bettingFX, CDFs, FX options
Account types offeredAvaTrade retail account, AvaTrade professional account, AvaTrade options account, AvaTrade spread betting accountAvaTrade standard account, AvaTrade options account,
Can you lose more than you deposit?No, you have negative balance protection
Range of marketsForex, CFD equities, and ETFs, commodities, cryptocurrencies, indices, FX options
Trading platformsDesktop, mobile (iOS, Android), avaTradeGo App, tablet (iOS, Android), Web trading

Moreover, there are other account types as mentioned below:

  • Professional account

it requires ESMA regulation, but it is almost the same as the EU retail or global standard account. The significant difference between these two account types is the leverage. 

The Retail EU has a maximum of 1:30 leverage as disposed of by the European Union’s legal limit. However, the professional account has a maximum of 1:400 leverage on forex and other instruments.

  • Corporate account

It is for institutions and is owned by a legal entity.

  • VIP account

Anyone inside the EU or outside the EU is eligible for taking a VIP account. In that case, investors should invest a minimum of 10,000 euros to get the VIP account. This account offers lower spreads than other account types.

  • Spread betting account

It is offered only in the UK and Ireland.

  • Islamic account

It is a swap-free account to allow investors to have an interest-free trading environment. 

  • Cryptocurrency account

Trading cryptocurrencies through AvaTrade is like trading other instruments. You have to make a minimum amount of deposit and start selling using the MT4 or MT5 platform.

Investors should invest as low as $100 except for the VIP account that requires 10,000 Euro or equivalent for every account type. Moreover, all account types have a demo facility so that investors can check the platform and get familiar with it before moving with real money.

How to open an account?

AvaTrade Broker - How to open an account?

Step 1. On the main page of our site, click on the Register button, select Real or Demo account.

Step 2. Enter your name and email address, select an individual or corporate account and click Open Account.

Step 3. Complete registration and verify your account.

Deposit and withdrawals

There are three ways to deposit in AvaTrade, as mentioned below:

  • Bank transfer
  • Credit card
  • Electronic wallet — Neteller, Skrill, Webmoney

The сredit сard and wire transfer are available for global clients, while electronic payments are not allowed for EU and Australian clients.

The wire transfer may take a maximum of seven days to complete while payments with a credit card are instant. Moreover, electronic payments require a maximum of 24 hours to complete the deposit. 

Credit card depositWire transfer deposit
USD account — $100
EUR account — €100
GBP** account — £100A
UD** account — $100
USD account — $100
EUR account — €100
GBP** account — £100
AUD** account — $100

AvaTrade withdrawal option

Before making a withdrawal request, make sure that your account is two steps verified using your NID/passport or driving license.

Like other brokers, you should choose the same withdrawal method as your deposit. The overall process may take a maximum of two days to complete.

How to withdraw?

The options for withdrawing funds from AvaTrade completely coincide with the list of methods with which you can fund your account. To send a withdrawal request, fill out the withdrawal form from the home page of your MY AVA trading account. 

Follow the instructions given in the withdrawal section in the lower-left corner of the MY AVA screen. After submitting a withdrawal request, you must wait up to five days before the request is processed. In addition to five days to process a withdrawal request, it also takes several additional days to complete the transaction. The funds are credited to the trader’s bank account. 

Trading fees

The broker’s fees and commissions are important considerations while looking for a suitable forex or CFDs broker. Traders usually find a high regulated broker with a lower-cost facility. However, it is often difficult to match the requirement, but traders should adjust the cost with the maximum safety of funds.

Let’s start with the spreads first. AvaTrade does not take any commission besides the feed, so its main charge is the spread.

The average spread of the EUR/USD is 0.9 pips, which is considered satisfactory compared to the industry average. Moreover, such a spread with a $100 deposit is another positive point for AvaTrade. However, other brokers allow trading with 0.0 spreads. So, in some cases, we can find alternatives to AvaTrade in the industry.

AvaTrade Broker - Trading fees

Besides forex pairs, the average round trip fees and costs for other CFD instruments like stock, indices, and commodities are better than the industry average. We observed the trading cost during our review and found it near 0.13%, which is quite impressive.

Moreover, another essential fee regarding trading is the overnight fee charged to any open trades at 5 PM NY. Swing trades and position trades are the primary victims of overnight fees, but AvaTrade does not take any overnight fees, a plus for the broker.

Besides, there is an inactivity fee of $50 per quarter, but in that case, your account should not have any trading activity within the time.

Based on our findings, AvaTrade’s trading fees are competitive and within the industry average. Here, investors can quickly match the minimum deposit requirement with the low trading environment and get the maximum benefit of a VIP account.

Non-trading fees

The broker doesn’t charge any account fees, while deposits and withdrawals are also free of charge. On the negative side, AvaTrade has an inactivity fee of $50 per quarter after three straight months of inactivity.

Platform and features

AvaTrade provides MetaTrader 5, MetaTrader 4, and Its proprietary trading platform to cover all trading needs.

AvaTrade MT4 platform

  • Nine time frames and more than 30 built-in indicators.
  • Available in mobile, web, desktop, and Mac.
  • EAs with MQL4 language for algorithmic trading.
AvaTrade MT4 platform

AvaTrade MT5 platform

  • It is a sophisticated trading platform that has more than 100 trading tools & indicators.
  • 23 frames and automated trading with MQL5 language.
  • It is available on mobile, web, desktop, and Mac.
AvaTrade MT5 platform

AvaTrade platform

  • It is a unique platform made by AvaTrade where inventors can trade 1000+ instruments in a single place.
  • Investors can protect losing positions with AvaProtect in the AvaTradeGo platform. 
AvaTrade platform

Features

Besides general features, AvaTrade provides more than a trader should know. Here we will see some elements that AvaTrade exclusively supplies:

Trading central

  • AvaTrade offers technical analysis from certified traders through the central trading portal. 
  • AvaTrade technical analysis is available on WebTrader and AvaTradeGO platforms.
  • Moreover, you can see analysis through the MT4 and MT5 platforms as well.
  • It offers 24 hours coverage across 85 markets, including stocks, currency pairs, options, and bonds.

AvaSocial

The broker provides social trading opportunities where multiple investors can follow successful traders. It is a win-win opportunity for both traders and investors. Investors should pay the trader and follow his trades directly to the account without any middleman. Here you can see the list of traders and their performance to choose the most reliable person. 

AvaSocial

Pros and cons of AvaTrade

ProsCons
Customer support is available in 14 languages.

The system uses advanced analytics to manage client risks.

The broker is regulated in Australia, Japan, the EU, South Africa, and the British Virgin Islands.

Supports trading crypto CFDs on 14 crypto pairs.

Forex options on 44 currency pairs. (OTC).
The range of research content and forex news is limited.

AvaTradeGo mobile application is not compatible with most phones; use the MT4 AvaTrade app instead.

Commission for inactivity on suspended accounts.

The desktop platform is quite limited.
REVIEW OVERVIEW
Overall rating
Previous articleForex.com Review
Next articleArnaud Legoux Moving Average (ALMA) for Your Forex Trades

LEAVE A REPLY

Please enter your comment!
Please enter your name here

9  +  1  =