AVAFX Video Review:
AvaFx.com Reviews Article
The brand AvaFX.com is a Forex trading website that is operated by the Ava Capital Markets Ltd, a subsidiary of Ava Financial Ltd. It was established in 2006 and boasts more than 150,000 clients in 150 countries. Operating out of Dublin, Ireland, AvaFX.com is subjected to the ‘Markets in Financial Instruments Directive’ (MiFID) issued by the European Union (EU).
AvaFX.com provides a diverse range of trading platforms such as the popular MetaTrader 4, ZuluTrade System as well as their own proprietary ‘AvaTrader’ system. In addition, clients of AvaFx.com also have access to an array of API libraries which they can use to customize their own Forex automated trading solution. This is one of the key features of AvaFx.com trading platform which sets them apart from the rest of the other brokers in the online Forex industry.
One of AvaFX.com main trading platforms is their proprietary trading platform called ‘AvaTrader’. This platform is said to be multi-faceted and traders can configure it to suit their own individual taste and preferences. There is an extensive API library which traders can use to build their own automated trading system if they choose too. There are two versions of this platform, as a downloaded application and a web based version that utilizes Java (Ava Java).
For those clients who want more control over the tools used to formulate the trading strategies, AvaFx.com also furnish their clients with the highly-regarded and popular MetaTrader 4 trading platform.
Apart from these two main trading platforms, they also offer their clients a selection of other trading platforms to choose from. These include:
- Ava Java
- Ava Mobile Trading
- Mirror trader
To complement the trading platforms, AvaFx.com also incorporate several useful features in their website such as:
- FX insights (links to updated Forex news)
- Twitter Feeds
- Real Time Charts
- Forex Market Analysis
With all these features, traders do not have to spend time scouring the internet for more information about the Forex market. Instead, they can focus their energy and time trading. In other words, these features represent a “one-stop-shop” for market information.
Types of Trading Account
With AvaFx.com, traders start trading from several types of trading account levels. Each type of trading account caters to different budget levels. Naturally, the higher the deposited amount and trading levels, the more benefits the account confers. Below listed are the different types of account levels:
- Silver – (Minimum Deposit to open is $100)
- Gold – (Minimum Deposit to open is $1,000)
- Platinum – (Minimum Deposit to open is $10,000)
- VIP – (Minimum Deposit to open is $50,000)
For those who are Muslims and wish to trade Forex according to Islamic principles, AvaFx.com also offers ‘Islamic version’ of the above types of trading account.
As of the time of writing this review, AvaFx.com is offering a special time-limited bonus offer for new accounts opened and funded before July 1st 2012:
|Minimum Deposit required to claim Bonus||Bonus|
|€ /$ 300||€ /$ 200|
|€ /$ 2,000||€ /$ 500|
|€ /$ 5,000||€ /$ 1,000|
|€ /$ 10,000||€ /$ 1,500|
|€ /$ 25,000||€ /$ 3,000|
For the serious traders who can afford a minimum deposit of $100,000 or trade more than $100million in volume, they are granting membership to the exclusive AVA Select. This AVA Select Club is about First-rate benefits and personalized service. This membership is granted only on a quarterly basis
Commission & Spreads
Like all other leading brokers, AvaFx.com does not charge commissions/fees for trades done through them. Instead, clients are charged a small fixed spread that ranges from 3 to 7 pips.
Customer support on AvaFX.com is available in multiple languages like Dutch, English, French, Portuguese and Spanish. There are also various options like Live Chat, Email and Phone calls which clients of AvaFx.com can use to get in touch with the support team. To make things easier for clients who wanted to get in touch, AvaFx.com have also provided a list of more than 36 numbers which clients can call for local support. For the full list, please refer to the website.
In terms of reliability in funds management, AvaFx.com has several methods which clients can use to fund their accounts. Major credit cards, Wire Transfer, Moneybookers, NETELLER, Paypal, Web Money and Western Union are all acceptable means of transferring funds. Withdrawals of fund are also done in the same way. For hassle free and speedier withdrawals, clients of AvaFx.com can also use Ava Debit card. This work the same way like a prepaid debit card and bypass many of the security procedures needed for funds withdrawal through convention means.
To summarize, trading with AvaFx.com has several distinct advantages which include:
- Catering for Mobile Trading
- Charging low spreads of between 3 to 7 pips
- Comprehensive Training tools
- Have a practice account
- Low Minimum deposit of $100 to open a trading account
- Multiple Trading Platforms
- Provide Forex Analysis and signals for some trading accounts
- Welcome Bonuses which ranges from $75 to $1,200
- Licensed in Ireland and regulated under MiFID
The response time of the customer support team can still be improved.
Bearing in mind that the Forex industry is largely unregulated, it is always prudent to deal with a broker who willingly subjects themselves to be regulated by the proper authorities. In AvaFx.com’s case, it is a subsidiary of a major international corporation with nearly $17 billion in market capitalization. Furthermore, AvaFx.com is incorporated in Ireland and is regulated by the Irish Financial Services Regulatory Authority established under the Central Bank and Financial Services Authority of Ireland Act, 2003. In other words, AvaFx.com is dedicated towards maintaining the highest possible fiduciary duty towards their clients by letting themselves be subjected to stringent financial regulations imposed under MiFID.