AvaTrade Review 2023: Pros, Cons and How to Start Trading

All of the accounts can choose between the MetaTrader 4 platform and the MetaTrader 5 platform. Options trading can only be performed through the proprietary AvaOptions trading platform. Regulation in Australia and Ireland provides clients with additional investor protection schemes. In Ireland clients are protected by the Investor Compensation Company, which protects deposits up to €20,000. Having an entity specifically tailored to various jurisdictions makes trading easier and more seamless for clients. And the fact that AvaTrade has been able to secure so many licenses and regulatory approvals just goes to show what a secure trading experience can be expected for clients.

• When added up, these inactivity-related fees are quite high compared with AvaTrade’s peers.
• The broker touts no commission trading which would mean that client trades “crossing” the bid/ask spread is the principal means by which AvaTrade generates revenues.
• It even provides negative balance proctection and Avaprotect feature for protection against the losing trades.
• Commissions and fees, trading platforms and tools, safety and security aspects are a few among the list.
• For instance, you may also check out and compare AvaTrade fees to Pepperstone.

Please await an answer from APAC team as they are handling the issues regarding deposits and withdrawals. Our review of AvaTrade also confirmed that investors can simply use both MetaTrader 4 and 5 on both PC and Mac. It is very important to note that to experience the full range of investment opportunities at AvaTrade, users will need to use MetaTrader 5 as the other platforms do suffer from limitations. Open a CFD trading account today & enjoy trading with all the benefits of an internationally regulated CFD broker from our advanced CFD trading app. Secure forex trading begins with a globally regulated forex broker.

AvaTrade offers articles and webinars on a very wide range of forex-related topics and investing in general. There are training videos on the trading platform but AvaTrade’s YouTube channel is also jam-packed with high-quality, well-produced video content. Users who want to try out the platform can start with AvaTrade’s demo account. The demo account is available regardless of which account type you sign up for and has $100,000 of virtual money.

Finally, the AvaTrade website also features a Live Chat function which provides both a chat bot functionality and the ability to contact a real-life agent. You can use different order types to trade, and you must https://forexbroker-listing.com/ consider using stop-loss orders when opening a trade position. Use the search function to select from different asset categories. Verify your identity and residency address by uploading a copy of your I.D.

Opening an Account

The stock index covers more than 20 world-renowned stock indexes, and more than 600 well-known stocks in Europe and the United States, and provides more than 40 currency pair forex options. AvaTrade’s customer service and inclusiveness contribute to a favorable user experience, and reviews of the broker tend to echo this sentiment. The AvaTrade website contains dozens of phone lines from throughout the world. AvaTrade’s spreads are close to the industry average at just under one pip (0.9 pips) but slightly higher than the spreads offered on entry-level accounts on rival platforms. Another firm favourite is Zulutrade, a popular auto trading platform.

The more you invest as a start, the more you will receive as a reward. Here, you can receive up to $ – for an initial deposit $ – or the least amount of bonus of $50 for a deposit of $250. Steve has been writing for the financial markets for the past 7 years and during that time has developed a growing passion for cryptocurrencies. Once through the basic registration process new clients will also be required to verify their identity and place of residence. This is to comply with AML/KYC requirements and the entire process is completed online.

AvaTrade Trading Platform Overview

You can search by starting to type an asset’s name or by clicking one of the asset categories. AvaTrade’s web platform is user-friendly, well-designed, and has a unique order type to protect you from losses. However, it lacks customizability, two-step login and price alerts.

Bonuses and promotions at AvaTrade are available at select subsidiaries, dependent on the regulator. Where available, AvaTrade presents traders with a deposit bonus and a refer-a-friend program. Terms and conditions apply, and I recommend traders read and understand them before requesting a bonus. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.

Until this process is completed the client is not permitted to make withdrawals from the platform. The 20% bonus appears to be capped at $10,000, so deposits over $50,000 can only receive the maximum $10,000 bonus. Sharp Trader goes into more depth on many of the same subjects covered in the free material, and is considered to be quite good in comparison with the trading education offered by other brokers. The AvaOptions platform simplifies the process by graphically representing the risks and rewards of each trade. This gives traders a better understanding of their trades before entering into them.

Customer support representatives can be reached by phone, email, or live chat on the company’s website. The phone operatives get mixed reviews as it sometimes takes them upwards of 7 minutes to respond. There is a plentitude of different account types available on AvaTrade but they all have similarities. All accounts have fixed spreads, as well as mini or micro lots trading capabilities. AvaTrade Go mobile platform and MetaTrader 4 are available with all account types.

Customer Support in AvaTrade is ranked Excellent with an overall rating of 9.3 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared to other brokers, also quite easy to reach during the working days. We learned that the broker offers also ZuluTrade which is one of the most popular auto-trading software.

What Type of Broker is AvaTrade?

The broker is regulated by no less than 6 regulatory bodies globally. In Europe, they are regulated by the Central Bank of Ireland, while they also have oversight from ASIC in Australia, the FSCA in South Africa, and the FSA and FFAJ in Japan. They have additional regulation in place in both Abu Dhabi, and the British Virgin Islands. There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk.

In the end I had to change broker and they never returned the money. FOREX.com, registered with the Commodity Futures Trading Commission , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. The webpage has an online form if you’d like to contact the firm, including the reason for request, name, email, phone number, subject and official request. Spot opportunities, trade and manage your positions from a full suite of mobile and tablet apps.

In fact, the live chat agent was able to explain the broker’s fee structure to assist in this review of AvaTrade. Phone support was also responsive from the 3 or 4 calls that we made. Email support is rather quick with response times being within a couple of hours and most responses were on point too. You’ll just need to supply some basic information – like name, address, email – and answer some basic questions to prove you understand the basics and responsibility of trading.

A demo account is available but restricted to 21 days, which is a little on the short side. However, potential clients may contact customer support to extend the trial or open a new demo account. I would like to see AvaTrade provide an unlimited demo account for beginner traders and those testing strategies and algorithmic trading solutions. In Forex Options, for trading options, AvaTrade has its own desktop trading platform. AvaOptions with Vanilla Options helps clients in options trading to create a portfolio, choose from over 40 currency pairs, and reward. It also has portfolio simulations and professional risk management tools.

Besides services by Trading Central, ideal for beginner traders and those unable to conduct broad-based market analytics, I like the Trading Position Calculator AvaTrade maintains on its website. It presents an excellent risk management tool, provides vital trading information, and allows traders to plan and maintain their portfolios. As per our AvaTrade forex review, a variety of great research tools & trading ideas for its traders great for copy trading is offered by AvaTrade.

Avatrade Research:

On top of that, after 12 consecutive months of non-use, an annual administration fee of $100/€100/£100 will be deducted. When added up, these inactivity-related fees are quite high compared with AvaTrade’s peers. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. The fee structure is very transparent and trading costs are easy to calculate. However, if fee levels for forex pairs are your most important consideration, then there may be better alternatives.

Is Avatrade Safe?

Trading CFDs on leverage involves significant risk of loss to your capital. Compared to its rivals, AvaTrade’s portfolio of available products is limited, when it comes to ETFs, bonds, and individual stock CFDs. There are no deposit fee at AvaTrade for the these payment methods. Opening an account with AvaTrade takes a few minutes and it is done 100% online.

Investing in or trading financial instruments, commodities, or other assets carries a high degree of risk. You should only in trading or investing if you are fully aware of the potential risk of loosing all your deposited money. While debit or credit card deposits are instant, traders have reported that, in some cases, it takes a few hours for the money to show up in the account’s available balance. For trading ideas, AvaTrade offers a section known as ‘Analysts View’ or ‘Forex Featured Ideas’.

Aside from education and customer support, AvaTrade provides a fairly good, but unexceptional service to its customers. You can also access AvaTrade’s training videos through the mobile app, which can be very useful if you’re on your feet. AvaTrade’s mobile software is well-designed but very limited, with the exception of AvaTradeGO, which is the company’s dominant mobile app.

What is the minimum deposit at AvaTrade?

It is also regulated by ASIC in Australia, the Financial Services Commission and FFAJ Financial Futures Association in Japan, and the B.V.I Financial Services Commission in the British Virgin Islands. Comprehensive EducationAvaTrade’s Demo account allows beginners to learn how to trade and enables advanced traders to test their strategies in a risk-free environment. Traders also enjoy exclusive access to video tutorials, eBooks, economic indicators and the Sharp Trader academy, which can help them polish their trading strategies and abilities. Clients can also register for regular webinars hosted by AvaTrade professionals that cover all important aspects of trading. State-of-The-Art Trading PlatformsAvaTrade provides multiple platforms including MT4, MT5, DupliTrade, WebTrader, AvaOptions and the AvaTradeGO mobile app – there’s something for everyone. Traders also enjoy real-time updates to stay on top of the market.

The “Trading Conditions & Charges” link under the “Trading Info” tab lists the spreads, available leverage, and margin requirements for all of AvaTrade’s instrument offerings. The minimum advertised spreads for FX majors are inline with the industry average with EUR/USD at 0.9, USD/JPY and AUD/USD at 1.1, GBP/USD and USD/CHF at 1.6, NZD/USD at 1.8, and USD/CAD at 2.0. As is the norm in the FX industry, clients will be charged swap fees on positions that they hold overnight.

These charts can be edited and modified to spot potential signals, price patterns, and trends. In this case, the cost of trading forex pairs is slightly higher than trading the same pairs with XM and Plus500. The AvaOptions platform, designed for forex options, has a desktop version. AvaTrade supports MetaTrader 4 and MetaTrader 5, both of which are third-party platforms.