What is AvaTrade?
AvaTrade is a top global forex broker started in 2006 and one of the largest reputable and respected financial trading platforms. It comprises the AVA group of companies and is one of the earliest brokerages internationally. The multi-asset broker has four offices around the globe, including its head office in Ireland and others in Japan, the British Virgin Islands and Australia. It has grown to offer retail investors from a massive range of regions a variety of brokerage services and also allow them to open an account using different currencies. Recently, the company partnered with English Premier League, Manchester City. This partnership played a significant role in highlighting AvaTrade growth and visibility in the market.
Selecting an online broker can be challenging due to difficult terminology, complex platforms and confusing fees structures. This review assesses the AvaTrade platform, MT4 integration, deposit methods, and mobile apps. It also dives into AvaTrade’s trading costs, spreads and leverage. The following assessment will help you determine if AvaTrade is the best platform for forex, CFDs, cryptocurrencies, vanilla options, ETFs trading or whatever else you have in mind.
AvaTrade regulation and reputation
Checking the regulatory status of a broker before investing with them is important. Regulated bodies will help a trader ensure the trustworthiness and competence of the trading company they wish to open an account with. The regulatory authority will strip the status if the broker fails to follow the rules. The primary benefit of using a regulated broker is that they do not manipulate prices and honour customers’ requests.
AvaTrade is regulated by several authorities worldwide, making it a reputable broker. In Europe, AvaTrade conduct is checked by the Central Bank of Ireland, license #C53877. It is licensed by the FSA (Financial Services Agency) and FFA (Financial Future Association) in Japan under licenses #1662 and #1574, respectively. The broker is also licensed under license number #45984 by FSB (Financial Stability Board) in South Africa. In Australia, the broker is regulated by ASIC (Australian Securities and Investments Commission), license #406684.
The firm opened a new market in Canada through collaboration with Friedberg Direct, a division of the Friedberg Mercantile Group Ltd. It is also a member of many Canadian Exchanges, the Canadian Investor Protection Fund (CIPF), and Canada’s Investment Industry Regulatory Organization (IIROC).
AvaTrade has performed exemplary well over the 16 years providing brokerage services and has won numerous awards. It has been awarded for being “The Best Financial Derivative Trading Provider”, “Best Customer Support”, Best Forex Broker of the Year”, and “Best Alert System”. You can trade on AvaTrade with confidence as it makes the best online brokerage based on reliability and reputation.
Is AvaTrade safe?
Experts consider AvaTrade a low-risk trading platform. Several regulators authorise the company in the industry. AvaTrade has gone a step further to introduce a risk management tool, AvaProtect, for its traders. AvaProtect is an innovative feature on the AvaTrade platform used for risk management. The firm created this risk management feature to enhance its commitment to help AvaTrades’ customers excel in their trading activities. Avaprotect was also designed to be familiar and intuitive to users and better trading experience. You can either download the AvaProtect app on your IOS phone from the Apple app store or use an Android phone from the Google play store. As a risk management tool, AvaProtect allows beginner and professional traders to protect themselves from massive losses of 1 million dollars within a given trading period. However, AvaProtect is a paid product, needing a hedging fee payable at the time of purchase.
The pros and cons of using AvaTrade
- AvaTrade fees are relatively low.
- Excellent customer support is offered through emails, social media and live chats. Support is available in various languages.
- It is a regulated trading platform authorised by several authorities worldwide. They include FSA in Japan, ASIC in Australia, FSCA in South Africa, and Ireland’s Central Bank.
- AvaTrade platforms hosts demo account type.
- It has competitive spreads with over 1200 forex and CFDs trade options and provides customers with fee reports.
- It has won numerous awards and has a high ranking, indicating it is a trusted company.
- Offer proprietary platforms such as AvaTradeGo and AvaTrade WebTrader with AvaProtect.
- Exorbitant inactivity fees of $50 per quarter.
- Withdrawing funds can take up to 10 businesses days.
AvaTrade accepted countries
Traders from the United Kingdom, Canada, Germany, Qatar, Saudi Arabia, Australia, Thailand, Norway, South Africa, United Arabs Emirates, Sweden, Hong Kong, Singapore, Kuwait, Italy, Luxembourg and Denmark are allowed to use AvaTrade for investment purposes. However, traders from the United States, Zimbabwe, Belgium, Iraq, Iran, India, Spain and Pakistan cannot trade AvaTrade.
Types of trading platforms on AvaTrade
AvaTrade offers a variety of trading platforms for automated and manual trading across different device types. These trading are free to download and use from various devices, or you can access them directly through a web browser. The wide selection of trading platforms is the most impressive aspect of AvaTrade. It caters to every client type’s needs, whether they are seasoned trading veterans or a beginner and gives them an opportunity to have the best trading experience. Platforms available at AvaTrade include:
- Meta Trader for Mac
- MetaTrader 5 platform (MT5)
- MetaTrader 4 Platform (MT4)
- Meta Trader for web trading
- The AvaTradeAct platform (also called Proprietary Platform)
- Meta Trader for mobile trading
- AvaTrade AvaOptions
The firm has gone a step further in ensuring have a seamless and delightful experience through automated services. Automated trading software provided on AvaTrade Company includes:
- API Trading
- MQL5 Signal Service
- Mirror Trader
Types of trading accounts offered on AvaTrade
AvaTrade offers two account types used together with its reliable and advanced trading platforms such as MT5, MT4 and AvaOptions. The two account types can either be standard or demo accounts. With as little as $100, you can open a standard account using a credit card or $500 if you are doing a wire transfer. Each account has its set of conditions based on fees, commissions, minimum deposits and leverage. Besides the two standard accounts, AvaTrade provides ‘swap free’ accounts for Muslims who strictly follow the Islamic Sharia Principle, classifying some interests as exploitative or wasteful.
Besides the standard accounts, traders with over 12 months of trading record qualify to open MAM accounts classified as professional accounts and enable them to manage several accounts for their customers. MAM type of accounts has the following features
- Multiple allocation parameters
- Compatible with Expert Advisors (EAs)
- Has its minimum lot at 0.01lots
- Can create sub trading groups
- AII MT4 order types are available, including limits, close and stops
- Can place trade order accounts with a master account
- Do not limit client accounts order placements
Bonuses and promotions on AvaTrade
AvaTrade offers bonuses to traders depending on their country of residence. Some trades from particularly given countries are not eligible for AvaTrade bonuses. You have to meet some trading requirements to qualify for these awards. Terms and conditions for bonuses awards are available on their website, or you can contact the support team for more information.
AvaTrade instruments and assets
- AvaTrade – provides traders with multiple asset types and financial instruments for investment purposes. The financial instruments and assets comprise:
- Cryptocurrencies – AvaTrade offers 9 digital currencies with CFDs. Bitcoin, Bitcoin Cash, Ethereum and Ripple are some of the cryptocurrencies offered on the platform. Traders can speculate on price discrepancies of the currencies without owning the underlying assets. CFD crypto trading on AvaTrade offers traders up to 20:1 leverage.
- Forex – lists over 50 currencies to enable traders to speculate on their price movement. Major, minor and exotic currencies are available for trading 24/7. You can enjoy a competitive spread of 0.8 pips and above, and you can leverage up to 400:1
- Options – AvaTrade has improved its platform to accommodate traders of all levels by introducing new options. These new options trading platforms are easily accessible and less complex than AvaTrade vanilla options. In addition, new trading platforms offer a range of opportunities for curious traders to get satisfaction by using the AvaTrade product.
- Indices, Bonds, ETFs, Commodities and Stocks – traders can also leverage these financial assets and enjoy low and competitive spreads associated with trading the assets.
Customer support at AvaTrade
AvaTrade constantly reviews customer options and respond to customer questions. This is done through live chat, social media, telephone, emails, fax and FAQ page. Telephone support is available across many countries globally, including 2 in the Middle East and Australia, 6 across Asia, 4 in South Africa, 2 in Africa, and 24 countries across Europe. The platform uses a wide range of languages to enhance the effectiveness of its platform, including English, Spanish, Japanese, Russian, Arabic, German, and Italian, among others.
A hired person represents a given location to facilitate effective communication when dealing with issues. The representative is conversant with the local language. For instance, AvaTrade recent partnership with Canada enables traders to access customer services in local Friedberg Direct locations. AvaTrade support team ensures that all your questions are answered and issues are solved to enhance the client experience. The support provided is also prompt and informative.
As mentioned earlier, AvaProtect is one of the risk management tools supported on the AvaTrade platform. The app was developed to help traders mitigate financial risks. It provides customers with up to $1000 000 trading loss protection for a specific trade over a given time. The customer pays minimum hedging costs to benefit from AvaProtect services in exchange. The hedging cost on losing trades is paid at the time of purchase.
Financial assets and instrument price movements can be adverse. AvaProtect ensures that you are not incurring losses during adverse market movements. In short, the risk management tool will reimburse you for any lost trades once the protected period is over. Avaprotect will not cover the trades beyond paid points, whether the trade is closed manually or by a stop out. If the user loses money, the amount is reimbursed to their AvaTrade trader’s account. Any reimbursed losses are credited to the user account as liquid cash or without withdrawal process restrictions.
How to activate Avaprotect
You are only required to complete the following 6 steps to activate your AvaProtect:
- Open WebTrader by tapping on the AvaTradeGo app
- Select an instrument
- Click the AvaProtect icon
- Decide the protection duration
- Check the fee structure and the expiring dates
- Complete your trade
Traders can download the AvaSocial app on their Android and Apple devices, created as the broker’s social and for copy trading. This means that traders can see and follow successful traders on the AvaSocial platform. They can also research new instruments and trading strategies that they usually don’t trade in and utilize. Clients can trade manually on market signals and grow their social trading community. They can also use automated services to increase their knowledge base. It is more beneficial to beginners enabling them to find experienced traders who match their style and view their history before setting up their budgets. Users can interact in community channels, seek mentors and learn more about cryptocurrencies markets.
AvaTrade Economic Calendar
AvaTrade maintains an economic calendar available for all traders around the globe. The calendar indicates important financial events to traders because they impact the market. The effect of financial events can either increase or decrease assets and instruments’ market value. Economic events shown on the calendar are often pre-scheduled. An event can be moves or statements made by significant players in the financial sector, like Central Banks or the International Monetary Fund. The statements also comprise market situations in different countries, such as unemployment rates or inflation.
Investors anticipate the financial calendar to develop a trading strategy. Once the economic calendar is released, traders derive vital data such as the GPD of different countries, among other economic indicators. They later use the information to plan and execute trades. Statements on AvaTrade’s economic calendar can also be used to make future price predictions for assets and financial instruments. Financial calendars together with AvaProtect are added advantages of using AvaTrade platforms.
Benefits of financial calendars
- Traders follow economic and non-economic price indicators that enable them to act accordingly based on market demands.
- GDP, inflation and employment data gives investors a better understanding of the causes of market fluctuations.
- It helps traders make wise trading decisions based on the economic events and future predictions by looking at how past economic events have impacted the current asset values.
- Economic calendars enable traders to stay updated on the global financial market. They can then trace price indicators for a specific currency pair.
- Traders can anticipate significant events and calculate the percentage at which they will affect their open trade once they happen.
Forex Affiliate Partnership Program
Forex affiliate programs allow people to earn from home and, in return, advertise them on their social media or through emails. AvaTrade offers a forex affiliate partnership program allowing traders and non-traders to gain extra income. Affiliates use their influence to direct more users to a specified website. The network is working with more than 70,000 AvaPartners. The company partnered with Manchester United Football Club, attracting traffic from over 150 counties worldwide.
Affiliates can select to partnership in:
- Flexible White Label
- Online Affiliate Manager
- Tied Agent
- Business Partner
- Introducing Broker
- Tied Agent
- Trading Academy
Deposits and withdrawals on AvaTrade
AvaTrade offers its clients various deposit options. Traders have to pay a minimum of $100 when opening an account with AvaTrade. They can fund their accounts through Bank Wire Transfers, credit cards such as VISA and MasterCard, E-wallets such as PayPal, NETELLER, Webmoney and Skill or using a debit card. Traders can use similar means to withdraw their funds. The easiest way to access and withdraw your funds is by using Ava Debit MasterCard. You can apply for a MasterCard immediately after signing up for an account. Withdrawal requests only take several days. Once AvaTrade approves your requests, you can complete the transaction with your provider, such as banks.
AvaTrade trading tools
- Trading tools – AvaTrade offer traders some excellent solutions to integrate into their trading activities. One of the impressive aspects of the trading tools is the automation feature such as API trading and Zulu Trade.
- Education – AvaTrade offer educational resources targeted at beginner traders through the Sharp Trader. This section is dedicated educate beginner traders about financial markets, assets and instruments, including more information about stocks and cryptocurrencies. Sharp trader comprises videos, articles, groceries, guides, ebooks and tutorials.
- Free trading coaching course – AvaTrade’s partnership with Manchester City Football Club came with additional free courses. Experts train you to think systematically and logically about financial markets and assets. It equips you with the knowledge to mitigate and manage financial risks.
- Range of assets – you can trade crypto, stocks, CFDs, Options or Forex, among other instruments and assets provided in the AvaTrade Company. The company caters for every trader needs, whether you are a beginner or a seasoned veteran.
Benefits of using AvaTrade
- You can trade cryptocurrencies against fiat currencies. Unlike most brokers, AvaTrade has crypto against fiat currencies listings. An investor can benefit from the price movements associated with the two types of currencies.
- The platform offers competitive spreads and a wider selection of assets. Traders do not require an e-Wallet and can directly trade on the AvaTrade platform.
- AvaTrade provides users with impressive leverages of 25:1 for non-EU-residents and up to 2:1 for EU residents. The leverages are beneficial because they increase value. In addition, leverage enhances users’ exposure to trading markets in different continents such as Asia and Africa.
- AvaTrade has fewer associated fees. For instance, the platform has zero commissions, no trading fees, limited financial rates, no bank transfer fees and no hidden costs, based on reviews. However, you will undergo conversion charges when changing one currency to another.
- One of AvaTrade’s impressive features is AvaProtect, which offers traders protection against trade losses. If the market fluctuates and goes against the trader, the tool reimburses the users.
Spreads are the differences between assets’ buying and selling rates. They have recently become trendy in day trading, and AvaTrade is reducing them. Traders can take advantage of spreads to increase their gains while day trading on the platform. For instance, crypto spreads were decreased by 50% and further by a third.
Who can use AvaTrade?
Any users interested in cryptocurrencies, stocks, and other financial commodities have a variety to choose from. AvaTrade provides a wide selection of Forex and CFD options for users to choose from. The platform has an excellent customer support team, an educational section and automated solutions to help beginner and expert traders make wise investments. Its website pages and mobile apps are easy to navigate through different features and functionalities. The education section is filled with videos, articles, ebooks and tutorials, making it ideal for beginners who have little idea of the financial market. Automated tools carry out free webinars for traders.
What is the minimum deposit required at AvaTrade?
AvaTrade minimum deposit amount is $100 when opening an account with no extra charges. Clients can charge their account through e-wallets, wire bank transfers and credit/debit cards.
How long does the AvaTrade withdrawal process?
Withdrawal transactions usually take a business day to process, but it may take several other days to receive the payments. The method used to receive the amount can contribute to the delay. For instance, with an e-wallet, you will receive your funds 24hours after processing, while it may take 5 business days to receive money when using a debit or credit card.
Is AvaTrade legitimate?
AvaTrade ranks highly in the market as one of the top trading platforms in the world. The platform transacts over $70billion per month with over 300,000 registered users. The brand has won numerous awards for being the best in many aspects, such as the “Best Forex Broker of the Year” award.
How does the AvaTrade platform earn?
AvaTrade earns through inactivity fees, commissions and spreads, overnight markup, and users’ net trading losses like most brokerage services. Commissions and spreads are chargeable on the trader’s account.
Is AvaTrade regulated?
The company is a regulated forex and CFD broker with operating authority from the Central Bank of Ireland, among other authorisation bodies. Regulatory bodies ensure that AvaTrade is run fairly and transparently and does not exploit the customers.