AvaTrade Review

  • Regulated by: ASiC, BVI, FSA(JP), FSB, MiFID
  • Headquarters: Ireland
Website : www.avatrade.com
Established : 2006
Country : Ireland
U.S. Clients Allowed : No

AvaTrade was founded in the year 2006 as AvaFX by Emanuel Kronitz, Negev Nosatzki and Clal Finance. It was later changed to AvaTrade in 2013. AvaTrade is a Dublin based online broker for currency trading & CFDs. AvaTrade offers trading services in a variety of financial properties, it specializes in Bitcoin, commodities, equities, Exchange Traded Funds (ETFs), government bonds and market indices. They have both an online trading platform and mobile applications available on for both iOS and android devices. Serving 200,000 accounts world-wide, AvaTrade has made its mark as a global entity.

AvaTrade on an average performs more than 2 million transactions reaching volume of $60 billion monthly. With more than a decade of expertise behind their back, AvaTrade has successfully provided their clients with a plethora of services and products evident through the diversity and the efficiency of their platforms. To serve their clients to their optimal, AvaTrade boosts of a multilingual support staff available Monday through Friday on a 24 hours basis.

While AvaTrade’s headquarter is located in Dublin, Ireland, he company has developed network of offices in major cities such as Milan, Paris, Shanghai, South Africa, Sydney and Tokyo.

AvaTrade Regulations

AvaTrade is regulated via several credited financial regulators. Most notable authorities supervising their activities include Central Bank of Ireland (Reference No: C53877), Australian Securities & Investments Commission (ASIC) and Financial Services Commission (British Virgin Islands).  Japan is the one countries where AvaTrade is tightly regulated; various entities such as the Financial Services Agency, the Financial Futures Association of Japan and the Commodities Futures Association of Japan are simultaneously having oversight on company’s operations in the region. With all the regulations in place, AvaTrade carters to all traders regardless of their level and previous experience on the market. The company offers its service to traders from around the world, except the US where cumbersome procedures are necessary to get the required licence. Its strongest markets are the EU, the Middle East and Asia.

AvaTrade Reliability – Is AvaTrade a scam?

A concern that traders often raise is about the reliability of an online broker.  It’s understandable; the online trading industry has its fair share of scam brokers. It’s only natural for a beginner trader to be sceptical and want to ensure the broker they invest with is someone they can count on; is legitimate and reliable.

When it comes to an experienced entity like AvaTrade, the traders can be rest assured in the quality and transparency of services as they have been operational in the market for over a decade. AvaTrade is a reputable online forex and CFD brokerage platform in the market and is viewed as a credible source to work with throughout the trading community.

AvaTrade meets the strictest regulatory requirements implemented by various financial entities and as mentioned under the regulation category, AvaTrade holds licenses and authorization in more than 4 countries; the following are the jurisdictions AvaTrade is regulated in:

  • European Union
  • British Virgin Islands
  • Australia
  • South Africa
  • Japan

An indication of AvaTrade’s brilliant track record can be found in the fact that AvaTrade has won 5 awards circa 2009. This speaks volumes about its achievements and integrity as an organisation. This makes AvaTrade one of the most trusted online brokers on the market. Following is the list of AvaTrade’s accolades:

  • Daily Forex, Best Customer Support, 2009
  • World Foreign Exchange Foreign Exchange Awards: Best Forex Brokers in Canada, Most Transparent Brokers, Best Forex Brokers BVI, Best Forex Brokers Middle East, Best Islamic Forex Providers, 2010
  • com Security of Funds Excellence Award, 2013
  • FX Empire, Best Forex Brokers Award, 2015
  • Daily Forex, 4th place, 2016

AvaTrade Trading Platforms

One of the many advantages of AvaTrade is the numerous trading platforms it offers. AvaTrade offers spot trading primarily through MetaTrader 4 (MT4) and the company’s AvaTrader (ACT) software. Both trading platforms are browser-based or offered as a mobile app. The company also offers automated trading platforms through Mirror Trader, ZuluTrade and others.

AvaTrade’s clientele has 8 different options to choose from, the platforms are as follows:

  • MetaTrader 4 (MT4) platform
  • Meta Trader platform for Mac
  • Meta Trader platform for mobile trading
  • Meta Trader platform for floating spreads
  • Meta Trader platform for web trading
  • The proprietary AvaTradeAct platform forex and CFD trading
  • Platforms for Automated trading.
  • Mobile Trading Platforms

Mobile Trading Platforms

AvaTrade has made its platforms available on both Android & IOS devices (iPhone & iPad).  AvaTrade clients can trade on the MetaTrader 4, but can also use the Ava custom platform (AvaTradeACT), which is also very reliable and easy to use.

Automated Trading Platforms

To give the beginner traders an edge, AvaTrade has a plethora of easy to use automated trading platforms and tools. The automated platforms allow the beginner traders to emulate the trades made by more established players in the market. This not only helps beginner traders optimize their profits, but also boosts their confidence to engage with market further.

The array of automated trading platforms includes:

RoboX

RoboX is aimed for traders who wish to diversify their investment portfolio by entering into the lucrative FX market, while minimizing the time vested in the acquisition of knowledge. To activate it, a trader simply has to answer 3 different questions and RoboX will set up and give the trader access to a plethora of diverse trading strategies which can be automated to perform trades on trader’s schedule and frequency.

Mirror Trader

Using the Mirror Trader platform, traders can view, analyse and evaluate signals sent by experienced traders and execute the signals in their own account. The trader will be able to duplicate the trading transactions of experienced traders even when the trader does not have computer access. The platform provides its users to decide how much trading they wish to automate and how much they wish to retain and control manually.

ZuluTrade

Zulu Trade lets you pick among the best traders and instantly convert their advice into live trades on the trader’s AvaTrade trading account.

MQL5 Signal Service

Similar to Mirror Trader; the MQL5 signal service is a mirror trading platform which gives you access to one of the world’s largest auto trading communities. The MQL5 account is provided free and once subscribed, traders can easily copy from thousands of signal providers from around the globe. It is fully integrated the MT4 platform.

API Trading

For traders with strong programming skills, they can utilize the AvaTrader API Libraries which are provided free of charge. With the AvaTrade API, traders can create their own customized trading solutions and link them securely to their AvaTrader platform.

AvaTrade Account Types

To facilitate to the novice traders and the established ones, AvaTrade offers two types of accounts:

AvaTrade Demo Account: The AvaTrade Demo account gives you 100,000 worth of virtual currency to practise and hone your trading skills and strategies.

AvaTrade Standard Trading Account: The AvaTrade Standard Trading account gives you a welcome bonus on signing up for AvaTrade’s real account. To open AvaTrade’s real account, there is a minimum deposit requirement which they have to fulfil. Depending on the trading account currency, the minimum deposit requirements are as follows:

Credit Cards

  • $250
  • £250
  • €250
  • AUD $250

Wire Transfer

  • $500
  • €500
  • £500
  • AUD $500

Note: Swap free accounts are also available for Muslim traders who wish to trade the markets according to Sharia rules.

AvaTrade MAM Accounts

For the more seasoned players who manage client accounts, there is Multiple Account Manager (MAM) account. It makes it easy for the money managers to execute block trades across unlimited number of client’s sub- accounts The MAM account comes with the following features.

For the traders offering managed accounts to a large and diverse group of clients, AvaTrade’s
MT4 MAM terminal delivers all the tools you need:

Place block orders from a master account

  • Compatible with EAs (Expert Advisors) and automated strategies
  • Place orders for an unlimited number of client accounts
  • Create multiple trading sub-groups for a variety of strategies
  • Multiple allocation types, including balance, lot, percentage and equity
  • Trading on account level with partial close option (also on account level)
  • Client allocations starting at just 0.01 lots
  • Utilise all MT4 order types: stops, limits, trailing stops, close all, etc.

The MAM system also provides all the information the traders need to manage their client list, including open trades, balances, P&L, and client contact details.

AvaTrade Cryptocurrencies Trading

AvaTrade now offers all traders the opportunity to trade a wide range of the top ranked digital coins 24/7. Today cryptocurrencies have become known to most people as a conventional and popular investment option. The main purpose of this new technology is to allow people to buy, trade, and invest without the need for banks or any other financial institution. Cryptocurrencies are highly volatile and can be profitable to any trader’s portfolio.

At present, there are 8 different cryptocurrencies currently  supported by AvaTrade. They include:

  • Bitcoin
  • Bitcoin Cash
  • Dash
  • Ethereum
  • Litecoin
  • Monero
  • Neo
  • Ripple

AvaTrade offers competitive spreads, with no commissions charged on transactions making it more profitable. When trading with AvaTrade you are trading on the price changes of the digital coin, and not physically purchasing it. Trading with AvaTrade ensures that you will trade with a 100% reputable broker. In addition with the leverage facility provided by AvaTrade, you can also leverage your trades by up to a ratio of 1:20.

AvaTrade Margins and Spreads

Traders at AvaTrade can trade the various instruments with fixed or floating spreads. The list below shows the spreads (both floating and fixed) for some of the more frequently traded currency pairs.

Instrument

Spreads (Floating/Fixed)

EUR/USD1.5/1.9
EUR/JPY2.5/3.2
USD/CAD2.5/3
USD/CHF2.1/2.5
USD/JPY1.6/2
GBP/JPY3/4
GBP/USD2/2.4
AUD/USD2.2/2.5
NZD/USD2.8/3
Gold0.4/0.5

Deposits and Withdrawals Options

AvaTrade support deposits via a number of sources, which includes credit/debit cards and bank wire transfer. Electronic payment transfers through eWallets are also supported by AvaTrade. These include PayPal, Skrill, NETELLER and WebMoney.

The withdrawal process is as simple as making the deposit. To request a withdrawal, simply fill out the withdrawal request form through the trading account on “MY AVA” dashboard. Follow the instructions listed in the withdrawal section located at the bottom left of the “MY AVA” screen. Once the withdrawal request has been submitted, it will take up to 5 business days for the request to be processed.

In addition to the 5 days required to process the withdrawal request, it will take several more days for the entire withdrawal process to be completed and the money posted in the bank account of the trader. For a faster withdrawal turnaround, traders can apply for an Ava Debit MasterCard. With the Ava Debit MasterCard, the withdrawal time is cut down significantly.

AvaTrade Bonus and Promotions

AvaTrade offers a signing up bonus for traders who open AvaTrade standard trading accounts and make deposits into their trading accounts with AvaTrade.  Depending on the amount that has been deposited, the bonuses awarded may range from $250 to $10,000.

Referral Bonus

AvaTrade offers flexible friend referral programs for introducing new traders to the platform. The traders can refer AvaTrade to a friend. For every successful referral made by a trader you will receive bonuses ranging from $75 to $400. The withdrawals of the bonuses awarded are however subject to several terms and conditions.

AvaTrade Customer Support

AvaTrade over the years has built strong customer support system. They have localised multilingual support staff available 25/5. This ensures that the AvaTrade’s trader will always get the assistance that he or she needs regardless of the time. There are several options available to get in touch with the support team including email, social media, live chat, fax and telephone. AvaTrade has ensured they have dozens of localized telephone support numbers so that their traders will not be burdened with excessive telephone charges.

AvaTrade Pros and Cons

Pros

  • Multilingual support
  • Multiple choices of trading platforms
  • Regulated broker
  • Fixed and Floating spreads available
  • Generous Bonuses

Cons

  • FAQ lack depth
  • Not the best website layout we have seen

Conclusion

AvaTrade is a trusted, reliable source for trading. It has ensured that the traders get the best tools and platforms available at their disposal; be it at a novice level or at a professional level.  They provide multiple solutions for different trading needs and the numerous awards they’ve won are a testament to their credibility. AvaTrade is an ideal choice for any looking to enter the market or to strength their hold further in the market.

AvaTrade Review

AvaTrade Review
9.8

Easy to use

9.8 /10

Fees

9.8 /10

Support

9.8 /10

Payment

9.8 /10

Pros

  • Wide range of products
  • Variety of platforms
  • Balance protection

Cons

  • No Volume Discounts
  • Slow Withdrawal
  • No Emergency Stop Loss
Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.