AvaTrade Review

Details

Broker AvaTrade
Website URL
Founded 2006
Headquarters Dublin Ireland
Support Number + (44) 1733592168
Support Types Email , Live chat , Telephone.
Languages English , French , Spanish , Arabic , German , Finnish , Italian , Portuguese, Dutch , Swedish , Polish , Hungarian , Russian , Taiwanese , Chinese , Koreans , Japanese , Mongolian
Trading Platform MetaTrader 4 | Automated Trading | Web Based Platforms | Mobile Trading
Minimum 1st Deposit $100
Bonus 30% deposit bonus on first deposit | Refer to a friend and receive $400
Leverage 1:30
Spread Fixed Spread EUR/USD is 1.9 | Floating Spread EUR/USD is 0.7 pips
Free Demo Account Yes
Regulation ASiC , BVI , FSA(JP) , FSP
Account Types Retail account , Professional account
Deposit Methods Credit card , Bank wire , Neteller , WebMoney , Skrill.
Withdrawal Methods Credit card , Bank wire , Neteller , WebMoney , Skrill.
Number of Assets 250+
Types of Assets Bitcoin , Litecoin , Ethereum , Ripple , Dash , Stocks , CFDs , ETFs , FX , Gold , Metals, Treasuries, Bonds, Indices, Agriculturals
Account Currency USD , AUD , GBP , EUR
Mobile Trading Yes
Tablet Trading Yes
Overall Score

Pros

  • Wide range of instruments
  • Great customer service
  • Regulated broker

Cons

  • The withdrawal process take somewhat longer than normal

AvaTrade is a leading online forex broker that was established in 2006. The broker is based in Dublin Ireland but maintain satellite offices around the world in major cities such as Sydney, Milan and Tokyo. It is also one of the most well regulated forex brokers around. In Ireland, AvaTrade is regulated by the Central Bank of Ireland and as such is MiFID compliant. In Sydney Australia, AvaTrade is regulated by the Australian Securities and Investment Commission (ASIC). In addition, AvaTrade is also regulated by the Financial Services Commission of Japan, the B.V.I Financial Services Commission and the South African FSP.

Since it first began operation in 2006, AvaTrade has continued to expand its services and today covers more than 200, 000 accounts on a global basis. The broker transacts over 2 million transactions with a monetary value of more than $60 billion. In addition to its advanced trading platforms and wide range of product offerings, the broker also offers a user friendly interface for you to navigate easily around the website. Services offered by the broker is also backed by an excellent team of multilingual support staff ensuring that your request for assistance will always be fulfilled. In this review, we will look will analyze in more details all the various aspects of AvaTrade’s offerings.

AvaTrade Types of Trading Accounts

In terms of trading accounts, AvaTrade have two main types of trading accounts, the retail account and the professional account. As the name implies, the retail account is geared towards the average retail traders. In addition, the minimum deposit requirement for a retail account is just €/$/£/AUD$ 100. The professional account on the other hand is meant for traders who want to trade professionally at the lowest possible cost. However to qualify for a professional account, you must fulfill the following requirements:

  • Have 10 transactions of significant size per quarter for the last 4 quarters
  • You must have relevant experience in the financial services industry and is aware of the risks involved
    Have minimum portfolio size of €500,000

Retail account features

  • Leverage ratio 1:30 (MiFID regulations requires that the leverage ratio for retail traders be limited to 1:30.)
  • Negative Balance Protection
  • Funds kept in segregated accounts
  • Dispute settlement service
  • Risk warnings provided by qualified advisors

Professional account features

  • Maximum leverage ratio of 1:400
  • Negative Balance protection
  • Funds kept in segregated accounts

Demo account

For traders who wish to try out the services offered by AvaTrade before committing real money, they can easily open a free demo account. The demo account will allow prospective clients to access AvaTrade’s proprietary platform as well as the popular MetaTrader 4 platform.

Islamic Account

Swap free trading account facility is also provided by AvaTrade for Muslim traders who wish to trade the markets Islamic Shariah law.

AvaTrade Trading Platforms

For the benefit of its traders, AvaTrade has made available several types trading platforms. They consist of the trading platforms for PCs, Mac computers, Automated trading, Smartphones and web based platforms.

MetaTrader 4 Platforms
For PCs and Mac computers, AvaTrade has provided the popular MetaTrader 4 (MT4) platform. The MT4 platform is available for fixed or floating spreads. Known for its robustness and reliability, the MT4 platform comes fully equipped with a wide range for trading tools such as comprehensive charting package and technical indicators. The platform is also able to support automated trading through the use of “Expert Advisors” (EAs).

Automated Trading
For traders who wish to trade the markets on automatic mode, then they will not be disappointed with AvaTrade’s platform offerings. In addition to the automated trading support provided for the MT4 platform, AvaTrade has also made available the ZuluTrade platform. This platform lets beginner traders follow the trades of more experienced traders and convert their trading decisions automatically in trades for the beginner trader. It represents a quick and easy way to trade the market professionally without having to undergo through a steep learning curve.

Web Based Platforms
For traders wishing to trade the markets straight on the internet using a web browser, AvaTrade has provided a choice of two platforms, the MT4 Web Trader and the AvaOptions WebTrader.

Mobile Trading

With the AvaTradeGO app, you can convert your smartphone in a powerful online trading platform which lets you trade the market from anywhere in the world. This powerful app comes with a user friendly interface and powerful trading features such as trading charts, live news and account management tools. It also lets you manage multiple trading accounts.

With the AvaTradeGO app, you can convert your smartphone in a powerful online trading platform which lets you trade the market from anywhere in the world. This powerful app comes with a user friendly interface and powerful trading features such as trading charts, live news and account management tools. It also lets you manage multiple trading accounts.

AvaTrade Welcome offers

Like most established brokers in the industry, AvaTrade is constantly innovating and trying to improve on its product offering. One of the ways which AvaTrade does this is by having promotions. Currently, AvaTrade is offering a summer promotion for new account holders. For first time depositors, they can earn up an extra 30% deposit bonus when they fund their trading account for the first time.

Another promotional offer by AvaTrade is the “refer a friend” bonus. Under this program, you can receive such much as $400 in bonuses for every successful referral.

AvaTrade commissions and spreads

At AvaTrade, the broker does not charge any commissions for trades executed on its trading platforms. Instead, they have to pay a small spreads on the Bid/Ask price. The spread can either be floating or fixed depending on the trader’s preference. Regardless of whether the spread is fixed or floating, traders at AvaTrade can be assured of enjoying one of the most competitive spreads in the industry. For example for the benchmark EUR/USD, the fixed spread offered by AvaTrade is as low as 1.9 pips. The typical floating spread for the EUR/USD is 0.7 pips.

AvaTrade Deposits and Withdrawals

To cater for its international clientele, AvaTrade offers a wide variety of funding methods. Traders can easily deposit using their credit card or transfer funds through bank wire or using eWallets such as Neteller, WebMoney and Skrill. Take note that the minimum deposit requirement for credit card and bank wire transfer is $100. For withdrawals, the methods are slightly restricted due to anti money legislation. When withdrawing funds from AvaTrade, the method used must be the same as the method used for depositing the funds initially. The amount withdrawn must be up to 200% of the amount deposited before you are permitted to use alternative withdrawal methods.

The typical processing time required for a withdrawal ranges from 1 to 2 business days. However for the actual receipt of payment, the time required may take as long as 10 business days for bank wire transfer. The fastest method is through eWallets such as paypal where it only takes a single business day for the funds to appear in your web wallet account. As for withdrawal fees, AvaTrade makes no mention of any fees associated with making a withdrawal. Nevertheless, one should be aware that AvaTrade is not responsible for any fees imposed by the banks or payment processors such as the credit card company or eWallet companies.

Before you are permitted to make a withdrawal at AvaTrade, you are required to verify your identity. The documents required for verification consist of the following:

Copy of colored government issued ID such as passport, driving license. The information contained in the ID must match exactly the details used for the registration of the trading account.
A Copy of Utility Bill for the verification of name and address of the account holder. It should be noted that the date of the utility bill must not be older than six month.

AvaTrade Customer Care and Support

The customer support service at AvaTrade is impressive. Apart from a comprehensive educational and detailed FAQ section, the broker also offer 24 hours support throughout the entire trading week. The support service is accessible through email, live chat or the telephone. We were most impressed with AvaTrade’s telephone support as the broker has provided localized telephone support numbers for more than 3 dozen countries.

What we think of trading at AvaTrade?

Overall, AvaTrade is an outstanding broker. The broker has been able to provide a wide range of instruments such as stocks, commodities, indices, FXoptions, ETFs, bonds, spot FX and cryptocurrencies for its clients to trade with. The quality of the broker’s services is undisputable and they have the awards to prove it. In addition, the fact that AvaTrade is well regulated all over the world helps to put anyone’s doubt about the reliability and legitimacy of this broker to rest.

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