The ever-evolving world of online forex trading requires finding a reliable and trusted broker for successful trading. AvaTrade, founded in 2006, is a renowned market maker which has established itself as a global brand. The broker provides various trading platforms for forex and CFD traders.
In this AvaTrade review, we will delve into AvaTrade’s pros and cons, account types, leverage, minimum deposit, withdrawal process, trading instruments, commission and fees, trading platforms, regulations, and customer support, along with comparing the broker with other forex brokers.
- Broker: AvaTrade
- Founded in: 2006
- Regulated by: Multiple Authorities
- Minimum Deposit: $100
- Trading Assets: Commodities, Indices, Stocks, Bonds, Cryptocurrencies, and CFDs
- Leverage: 30:1
- Platforms: MT4, MT5, AvaTrade WebTrader, AvaTradeGO, and AvaOptions
- Spreads: Competitive and Average
- Legal: Yes
- Trustworthy: Yes
Pros and Cons
Before discussing any other details about the broker, let us understand the crucial pros and cons of the Avatrade broker so that you can decide whether to choose the broker or not.
|Great Educational Tools
AvaTrade excels in offering a wealth of educational tools and resources that cater to both beginner and experienced traders. This helps traders gain a strong foothold in the industry and improve their skills over time.
|Average Forex Fees
While AvaTrade offers competitive spreads, its forex fees are only average compared to some other brokers in the industry.
|Wide Range Of Assets Offered
With over 1,260 tradable instruments, including forex, commodities, indices, stocks, bonds, cryptocurrencies, and CFDs, AvaTrade provides a diverse portfolio to suit different trading strategies.
|High Inactivity Fees
After three months of inactivity, AvaTrade charges a $50 fee, which can be considered relatively high, especially for infrequent traders.
AvaTrade offers a variety of trading platforms, such as the industry-standard MetaTrader 4, as well as its proprietary platforms like AvaTrade WebTrader, AvaTradeGO, and AvaOptions. This ensures that traders have a seamless and efficient trading experience.
AvaTrade’s website is well-organized, user-friendly, and provides valuable information about trading conditions, tools, and services, making it easier for traders to navigate and find the necessary resources.
Is AvaTrade Legal?
AvaTrade is a trusted and regulated broker with licenses from multiple reputable regulatory authorities. Its subsidiaries are regulated by different entities based on their locations:
- AVA Trade EU Ltd.: The Central Bank of Ireland regulates it.
- Ava Trade Markets Ltd.:The BVI Financial Services Commission regulates it.
- Ava Capital Markets Australia Pty Ltd: The ASIC regulates it.
- Ava Capital Markets Pty: The South Africa Financial Sector Conduct Authority regulates it.
- AvaTrade Japan: FSA, FFAJ regulates it.
- AvaTrade Middle East Ltd.: ADGM, FRSA regulates it
- DT Direct Investment Hub Ltd.: The CySEC regulates it
- ATrade Ltd: The Israel Securities Authority regulates it
Regulation and Trustworthiness
AvaTrade is a trusted and regulated broker, holding licenses from multiple reputable regulatory authorities worldwide. Its subsidiaries are regulated by various entities based on their locations, including the Central Bank of Ireland, BVI Financial Services Commission, ASIC, South Africa Financial Sector Conduct Authority, FSA, FFAJ, ADGM, FRSA, CySEC, and Israel Securities Authority. These regulations affirm AvaTrade’s credibility and trustworthiness as a reliable broker.
AvaTrade Account Types
AvaTrade offers various account types such as Retail accounts, Standard accounts, and Professional accounts to cater to the diverse needs of its clients. The account types include features such as scalping and hedging, one-click trading, email, and mobile alerts, trailing stop orders, and 24-hour trading. The available account currencies are USD, EUR, GBP, and PLN, and the maximum leverage for retail clients is 30:1, while professional clients can access leverage up to 400:1. Other than offering different account types, the broker also provides a free demo account for the traders.
Account Opening Procedure
Opening an Avatrade account is a straightforward process. We have shared a step-by-step procedure to help you open an AvaTrade account.
- Step 1 – Traders can complete the registration online by providing personal information, and financial details.
- Step 2 – Verifying their identity through appropriate documents.
- Step 3 – Once the account is verified, traders can fund their accounts and start trading.
AvaTrade offers leverage up to 30:1 for retail clients in the European Union, adhering to ESMA regulations. However, professional clients have the opportunity to access higher leverage, up to 400:1, depending on their experience and qualification.
The AvaTrade minimum deposit required to open an account with AvaTrade is $100, making it accessible to traders of all levels.
Let us discuss the AvaTrade withdrawal review in detail now. AvaTrade’s withdrawal procedure is relatively straightforward. The traders can simply request withdrawals through their account portal, and the funds are generally processed within one to two business days. Although, a few withdrawal methods might be slower than others. This delay is a drawback for traders who need quick access to their funds.
AvaTrade offers an extensive range of trading instruments, covering foreign exchange (FX), commodities, indices, stocks, bonds, cryptocurrencies, and CFDs. With over 1,260 instruments to choose from, traders have a broad selection of assets to diversify their portfolios and explore various trading opportunities.
Commission and Fees
AvaTrade operates on a spread-based fee structure, where traders pay the difference between the buying and selling price of an asset. The spreads are competitive and on par with industry standards, although not the absolute lowest. While there are no commissions charged on trades, traders may incur swap fees for positions held overnight.
The forex traders trading on the AvaTrade platform get an additional feature, that Avaprotect. This exclusive feature enables clients to get their money back on losing traders. It is a user-friendly risk management tool that lets investors protect trade against losses up to $q million over a decided period. For accessing this feature, you only need to pay a small hedging fee.
This additional feature is available on the broker’s proprietary trading platform and can simply be activated in a few easy steps. Here are the easy steps to access the AvaProtect feature:
- Traders just need to select the instrument
- Click the AvaProtect icon
- Choose the length of protection
- And, simply confirm the fee and expiry trade.
On Avatrade’s platform, clients can easily download the broker’s social and copy trading platform, known as AvaSocial. You can easily find this feature on iOS and Android devices. With the mobile app, clients can replicate the traders of successful investors. Users are also free to manually trade on market signals or follow fully automated services. With this, 24*7 trading is available on forex, stocks, crypto, and commodities markets.
Permitting user interaction with other traders via community channels and asking questions on specific strategies, AvaSocial is an excellent feature of this trading platform. Here people can find out more about the crypto markets or find a trading mentor as well.
AvaTrade offers a suite of powerful and user-friendly trading platforms to cater to the diverse needs of traders:
MetaTrader 4 (MT4)
MetaTrader 4 is the industry-standard trading platform known for its comprehensive features, user-friendly interface, and extensive customization options. Traders can access MT4 on the web, iOS, Android, and Windows.
Meta Trader 5 (MT5)
The MT5 platform on AvaTrade supports multiple features like Expert Advisors (EA), Customer Indicators, Scripts, libraries, etc.
This is AvaTrade’s proprietary web-based platform, providing a user-friendly interface and a range of essential trading tools. It allows traders to access their accounts from any web browser.
Rated as the “Best Forex Trading App” at the Global Forex Awards, AvaTradeGO offers a mobile platform with access to over 1,000 instruments. The platform includes the unique AvaProtect feature, which provides traders with protection against potential losses during a protected period.
This platform allows traders to engage in forex options trading, providing access to more than forty currency pairs and various PUT and CALL options within a single account.
Is AvaTrade a Trusted Broker?
AvaTrade’s reliability and security are underscored by the use of top-notch trading platforms. With MetaTrader 4, ZuluTrade, AvaTradeGO, and AvaOptions, the broker ensures a seamless trading experience, minimizing the risk of platform glitches.
Moreover, AvaTrade has received positive user reviews and high ratings from reputable review sites, further affirming its credibility and trustworthiness.
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AvaTrade stands out for its commitment to education, providing a comprehensive range of educational resources for traders of all experience levels. The broker’s educational tools and guides cater to both novices and seasoned traders, fostering continuous learning and improvement.
The broker has received multiple awards which make it ahead of its competitors. Some of the prominent ones are:
- Best Overall Broker 2022 by DayTrading.com
- Best Trading App 2021 by DayTrading.com
- Best Forex Broker 2019 by DayTrading.com
With permitting support via multiple channels, AvaTrade customer support is easily accessible. The multiple modes to reach out the Avatrade’s support team are via email, WhatsApp, and phone. It avails multiple phone numbers worldwide and allows language assistance in multiple languages to ensure inclusivity and accessibility for traders worldwide. The key contact details to seek AvaTrade’s customer support are:
Comparing AvaTrade with Other Brokers
AvaTrade has garnered positive recognition for its extensive offerings, reliable platforms, and excellent customer support. However, when comparing with other brokers, it is essential to consider specific factors such as fees, available assets, leverage, and regulation to find the best fit for individual trading preferences. So, let us compare AvaTrade with some other popular forex brokers:
|Broker||AvaTrade||Pepperstone||IG Group||FP Markets|
|Minimum Trade||$0.01||0.01 Lots||0.01 Lots||0.01 Lots|
|Trading Assets||Forex, commodities, Stocks, and crypto||CFD, Forex, Currency Indices, Indices, ETFs, Shares, Spread Betting, Commodities, and Crypto||Forex, ETFs, indices, shares, commodities, CFDs, cryptocurrencies, options, futures, spread betting||Forex, CFDs, indices, commodities, shares, cryptocurrencies, bonds, and ETFs|
|Platforms||MT4, MT5, TradingCentral, DupliTrade||MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade||MT4, AutoChartist, TradingCentral||MT4, MT5, AutoChartist, TradingCentral|
|Leverage||1:400||1:30, 1:500||1:30||For the UK 1:30, others 1:500|
We wrap up this Avatrade review, by concluding that AvaTrade is a trusted and comprehensive broker that caters to traders of all levels. Its commitment to education, diverse range of tradable assets, competitive spreads, and reliable trading platforms make it an excellent choice for both beginner and experienced traders. With a strong reputation, regulated status, and top-notch customer support, AvaTrade is a compelling option for those seeking a reputable online trading partner.
However, with distinct requirements and trading styles, we recommend you choose your forex broker wisely after thoroughly researching the market and comparing AvaTrade with different other brokers. Also, be cautious of market instabilities and associated risks.
Can I trust Avatrade?
AvaTrade is a trustworthy and regulated broker with multiple trading assets and offers various trading platforms for traders. So, we can say that you can trust AvaTrade but be cautious to trade as forex is highly volatile.
Is AvaTrade legal in India?
AvaTrade is in the RBI’s list of unauthorized forex brokers so AvaTrade is not legal in India.
How long does Avatrade withdrawal take?
Once the verification procedure is complete, it will take around 24-48 hours to receive your withdrawals from AvaTrade.
Is AvaTrade a good broker?
Being a reputed and regulated broker and offering features like AvaSocial, multiple trading platforms, and allowing trade in numerous currencies. AvaTrade is a good broker.
Is AvaTrade legit?
Available in multiple countries, AvaTrade is a regulated broker but is not legit in India.
Is AvaTrade good for beginners?
With features like AvaSocial and resourceful educational material, AvaTrade is a good choice for beginner traders.