AvaTrade | Online Forex Broker Review

AvaTrade - online Forex broker     Open an Account

AvaTrade is one of the leading Forex brokers providing dedicated services to its clients with customized trading solutions. The award-winning broker offers to trade more than two hundred instruments including stocks, indices, commodities, and contract for differences (CFDs). It is also ranked amongst the pioneers to introduce trading in a digital currency such as bitcoins. The broker was established in 2006 and is based in Dublin, Ireland. It accepts clients from almost all parts of the world excluding the USA. As far as the security of client’s investment is concerned, the broker holds client’s funds in separate bank accounts with investments grade-A banks. To protect the sensitive information of clients, the broker has secure socket layers – SSL HTTP encrypted web protocols in place. AvaTrade offers a range of deposits and withdrawals methods including cards (debit& credit), electronic wallets (Skrill, Neteller, Paypal, Web money) bank wire, and other local payment methods.  

Regulation
The broker has multiple regulations from various regulatory bodies in different regions of the world. In Europe, it is regulated by Central Bank of Ireland. Other regulatory bodies include BVI Financial Services Commission, Australian Securities and Investments Commission, South African Financial Services Board, and Financial Services Authority.  

Account Types & Minimum Deposit
The broker offers two types of accounts including a live trading account and a demo account. The minimum amount that clients need to deposit to open a live account at AvaTrade is $100 only. Clients, however, need to deposit a minimum of $500 if the transaction takes place through a wire transfer.
Note: Considering the needs of all stakeholders, the broker also offers an Islamic Account (swap-free) account for Muslim traders.

AvaTrade - online Forex broker

Trading Platforms
The broker offers multiple trading platforms to its clients including AvaTradeAct, AvaTradeGo, AvaOptions, and MetaTrader4. Other trading platforms include Webtrader, MacTrader, and automated trading apps.

>> AvaTradeAct
It is an easy to use trading platform that allows traders to trade a range of instruments with the help of tools and charts making the trading experience much enjoyable. The key features include
•    It has user-friendly operating interface
•    It has flexible charting options with advanced indicators
•    It allows clients to trade more than 250 instruments
•    It can be accessed anywhere using a PC or a supported device connected to the internet
•    It offers various types of orders

>> AvaOptions
It is an advanced trading platform that equips traders to make informed decisions. Other features included
•    It provides a mix of options and spot types
•    It has expiry timing ranging from a day up to a year
•    It allows traders to trade more than 40 forex pairs, silver as well as gold.
•    It has advanced tools available to manage the risk
•    It offers an easy trading using a software or through the web.

>> AvaTradeGo
The broker offers its clients a fast trading app AvaTradeGo that is interlinked to one of the best well known MT4 trading platforms in a way that it has a unique yet user-friendly operating interface. Using the mobile-based app traders can access the market on the go. Other features of the app include
•    It allows traders to access to trade 250+ Forex and CFD instruments using phone
•    It makes traders switch between live and practice account easily
•    It offers access to live quotes and advanced charting options
•    It allows traders to place market orders, define SL & TP
•    It offers the availability of both Fixed and Floating Spreads
    
>> Metatrader4 (MT4)
The broker also offers world’s most powerful and widely used trading platform MetaTrader4 (MT4). The key features of MetaTrader4 includes
•    It is fast & flexible
•    It offers trading signals from leading providers
•    It offers algorithmic trading using EAs
•    It is accessible anywhere using a PC, mobile or web
•    It offers advanced charting and analytical tools

Besides offering all of the above trading platforms, the broker also offers a facility of automated trading. The trading platforms such as Robox, Mirror trade, MQL5, Zulutrade, and API can be used for the same at AvaTrade.

AvaTrade - trading platforms

Spreads, Fees & Commissions
Spreads are considered as one of the main sources of income for brokers. AvaTrade also offers competitive spreads to its clients starting at 0.8 pips only. The broker also provides a generous leverage of up to 1:400 for forex trading and 1:200 for CFDs. The broker, however, offers a relatively low leverage for trading cryptocurrency such 1:20. A facility to trade Vanilla Options is also available at AvaTrade. To know more about spreads and commissions, you can visit AvaTrade website.

Payment/Withdrawal Methods
The brokers ensure that fast and hassle-free deposits and withdrawals methods are in place. The broker offers multiple methods for the same including card payments, Skrill, Neteller, Fast bank transfers, web money, and other local payment methods. Withdrawals are processed within 1-2 business days on average.

Promotions & Bonuses
The broker is offering a deposit bonus on currency accounts. Mentioned below is the detail of bonus amounts and the range of deposits.

Deposit Amount          Bonus Amount
100--299                       35
300--499                      100
500--999                      175
1,000--1,999                350
2,000--2,999                700
3,000--4,999                1,000
5,000--9,999                1,750
10,000--19,999            3,500
20,000--39,999            7,000
40,000+                       14,000

Education
Education plays a vital role in boosting the confidence of traders. The broker offers a range of resources to educate its clients including video tutorials, guidelines to read and interpret economic indicators. Traders can also download a Forex e-Book to get themselves familiarized with different trading tools and methodologies. To make traders learn different trading terminologies a glossary is also available at AvaTrade.  

Customer Support
Paying special attention to offer first class customer support, the broker ensures the availability of multilingual customer assistance round the clock. The official website of the broker is accessible in 23 different languages of the world. Clients can contact the company via telephone at +1 212-941-9609. Emails can also be sent by filling an online contact form. Clients can also talk to customer service representatives on runtime basis by accessing the live chat feature.

Pros
•    It is fully regulated across five continents of the world
•    It offers award-winning trading platform
•    It offers excellent bonus and high leverages
•    It offers 24/7 multilingual customer support

Cons
•    It has too many things to offer that can result in a possible confusion for a novice trader.

Conclusion
After reviewing AvaTrade comprehensively, we concluded that it is a legitimate forex broker. Its various regulations, easy to use trading platforms, free educational resources, multilingual customer support, low deposits options, high leverages, and competitive spreads makes traders irresistibly attracted to become a part of the broker.   

 


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