AvaTrade Review 2018
AvaTrade, initially established in 2006 as AvaFX, is an online forex and CFDs broker that is based in Dublin, Ireland. AvaTrade specializes in offering trading services for Bitcoin, commodities, equities, Exchange Traded Funds (ETFs), bonds and market indices. Since their inception, AvaTrade has expanded tremendously serving over 200,000 accounts on a global basis. The broker executes on a monthly basis more than 2 million transactions and often surpasses the $60 billion mark in total value. With a solid financial backing and client-oriented focus, AvaTrade has strived to provide their clients with a full range of services and products. This can be seen in the diversity of trading platforms that are available at AvaTrade and are supported by a team of multilingual support staff who are available on a 24/5 basis.
Apart for its operational base in Dublin and Ireland, AvaTrade also maintains several offices in several major cities and countries around the world such as Milan, Nigeria, Paris, Shanghai, South Africa, Sydney, Tokyo and Ulaanbaatar in Mongolia.
- Trading Platforms
- Account Types
- Cryptocurrencies Trading
- Deposits and Withdrawals
- Customer Support
- Pros and Cons
AvaTrade Video Review
AvaTrade is regulated by the Central Bank of Ireland (Reference No: C53877) and also by other well-known regulators such as the Australian Securities & Investments Commission (ASIC) and the Financial Services Commission (British Virgin Islands). The broker is especially tightly regulated in Japan with several agencies such as the Financial Services Agency, the Financial Futures Association of Japan and the Commodities Futures Association of Japan simultaneously having oversight on its operations in Japan. Regardless of whether a trader is a beginner trader or an experienced trader, AvaTrade will be able to meet all their trading requirements.
AvaTrade Reliability – Is AvaTrade a scam?
For most traders, one of the biggest concerns which they have concerning a broker is whether the broker is reliable. This is largely due to the fact that the online trading industry has for years been plagued with scam brokers. Understandably, beginner traders are anxious to make sure that the broker whom they sign up with is legitimate and reliable.
With AvaTrade, this is no longer a concern for traders. As a broker that has been operational for more than a decade, AvaTrade has already established a reputation among the online trading community as a broker with integrity and reliability. Firstly, AvaTrade is an authorized and regulated broker that complies with the strictest regulatory requirements. It is able to provide its traders a safe and regulated environment which they can trade with a peace of mind. Specifically, AvaTrade holds licenses and authorizations for the following jurisdictions:
- European Union
- British Virgin Islands
- South Africa
In testimony to its reliable track record, AvaTrade has since 2009 won a variety of awards in recognition of its achievements to the industry. Among their awards, AvaTrade has achieved the “Best Customer Support”, “Best Alert System” and “Best Financial Derivative Trading Provider”. Its latest achievement was given by us here at FXEmpire as “Best Forex Broker 2016”. AvaTrade has indeed proven itself to the online trading industry that is a legitimate and trustworthy broker.
AvaTrade Trading Platforms
One of AvaTrade’s main attractions is the numerous trading platforms that it has made available for its traders. Altogether, AvaTrade’s clients have a choice of 8 main types of trading platforms to choose from.
These various platforms include:
- 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
AvaTrade platforms are available on mobile devices as well. AvaTrade supports Android as well as iOS (iPhone and iPad) technology. AvaTrades’ clients have the option to choose between MetaTrader platform and AvaTradeACT.
To cater for beginner traders, AvaTrade has made available a strong suite of automated trading platforms and tools which they can use to improve their trading profitability. Beginner traders who lack trading experience will find automated trading platforms especially useful since they allow them to copy or mirror the trades made by their more experienced traders. This also helps to boost the confidence level of beginner traders so they will engage in more trading activities. The array of automated trading platforms includes:
RoboX is a simple and highly customizable trading tool which allows its users to make trades automatically according to their preferred trading style. To activate it, a trader simply has to answer 3 different questions and RoboX will set up and give the trader access to a billion different trading strategies.
With Mirror Trader automated trading platform, 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 is an automated social trading platform that allows its users to automatically convert the recommendations of experienced traders into trading decisions on the trader’s AvaTrade trading account.
MQL5 Signal Service
Fully integrated with the MT4 platform, traders can subscribe to the MQL5 signal service in order to gain 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.
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 simplify matters, AvaTrade provides its clients with two types of trading account, a standard trading account and a demo trading account.
To open a standard trading account, there is a minimum deposit requirement which they have to fulfill. Depending on the trading account currency, the minimum deposit requirements are as follows:
- AUD $100
- AUD $100
Note: Swap-free accounts are also available for Muslim traders who wish to trade the markets according to Sharia principles.
AvaTrade MAM Accounts
For professional traders who have to manage several trading accounts for their clients, there is also the Multi-Account Manager (MAM) account. The MAM account comes with the following features:
- Ability to create multiple sub trading groups
- All MT4 order types such as stops, limits and close are available
- Expert Advisors (EAs) compatible
- A minimum lot of 0.01 lots
- Multiple allocation parameters
- Order placements for unlimited client accounts
- Trade order placements from a master account
With the MAM system, traders can also access all the information and separate client accounts in order to manage their clients’ accounts effectively.
AvaTrade Cryptocurrencies Trading
Since 2013, AvaTrade has been offering the crypto trading facility. Back then traders at AvaTrade could trade in Bitcoin CFD on its proprietary trading platform and through the MetaTrader 4 platform. With the recent surge in cryptocurrency trading popularity, AvaTrade has added more cryptocurrencies to its cryptocurrency portfolio. At present, there are 8 different types of cryptocurrencies supported by AvaTrade. They include:
- Bitcoin Cash
Unlike cryptocurrency exchanges, crypto trading at AvaTrade involves dealing with a financial derivative such as CFDs. You will not be buying and selling with the physical cryptocurrency but rather with CFDs which allows you to capitalize on the price movements of the cryptocurrency. The advantages of trading cryptocurrencies with AvaTrade’s CFDs include being more affordable and the ability to profit from both a rising and falling market. In addition with the leverage facility provided by AvaTrade, you can also leverage your trades by up to a ratio of 1:20.
AvaTrade trading accounts can be funded using credit/debit cards and bank wire transfer. Electronic payment transfers through eWallets are also supported by AvaTrade. These include DinPay, NETELLER and WebMoney.
AvaTrade Deposits and Withdrawals Options
Withdrawal methods at AvaTrade are the same as those used for making a 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 Customer Support
As for the customer support service at AvaTrade, it is handled by a team of multilingual support reps. The team is available on a 24/5 basis hence ensuring that the AvaTrade’s trader will always get the assistance that he or she needs regardless of the time. To communicate with the support team, AvaTrade’s traders can do it by email, social media, live chat, fax and telephone. One of the best features about AvaTrade’s customer support is their localized support service. Dozens of localized telephone support numbers are provided by AvaTrade hence ensuring that their traders will not be burdened with excessive telephone charges.
AvaTrade Pros and Cons
- Multilingual support
- Multiple choices of trading platforms
- Regulated broker
- FAQ lack depth
- Not the best website layout we have seen
Is AvaTrade regulated?
Yes. AvaTrade is an authorized and regulated broker that complies with the strictest regulatory requirements. Among AvaTraed regulations, you can find the Central Bank of Ireland, the Australian Securities & Investments Commission (ASIC), Financial Services Commission (British Virgin Islands). The broker is especially tightly regulated in Japan with several agencies such as the Financial Services Agency, the Financial Futures Association of Japan and the Commodities Futures Association of Japan.
Please see the full list of regulations below:
- Australian Securities and Investments Commission
- Central Bank of Ireland (Eurozone)
- Financial Services Agency & Financial Futures Association of Japan
- B.V.I Financial Services Commission
- Financial Services Board in South Africa
- Regulated by ISA (Israel Securities Association)
How safe is AvaTrade?
They operate by strict regulatory requirements designed to ensure the interest of its clients are protected. The fact that AvaTrade operates since 2009 and regulated by some of the most important regulators around the globe can ensure their clients to deal with a reliable company.
Where is AvaTrade based?
AvaTrade is based in Dublin, Ireland. AvaTrade also maintain several offices in several major cities and countries around the world such as Milan, Nigeria, Paris, Shanghai, South Africa, Sydney, Tokyo and Ulaanbaatar in Mongolia.
How does AvaTrade make money?
AvaTrade’s earnings are derived from the slightly widen spreads that it charges traders when they make a trade. Apart from their spreads, there are no hidden commission charged by AvaTrade. AvaTrade’s spreads are among the lowest in the industry.
How to deposit in AvaTrade account?
Traders at AvaTrade can deposit funds into their trading account using their credit cards (Visa, Mastercard, etc), eWallets or bank wire transfer. eWallets payments includes: DinPay, NETELLER and WebMoney.
How to withdraw money from AvaTrade?
Withdrawals are processed through credit/debit cards and bank wire transfer. 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.
How to open an account with AvaTrade?
To open a trading account simply fill out the account opening registration and click submit. You can follow the instructions through AvaTrade’s website.
Is AvaTrade reliable?
Yes, AvaTrade is a reputable and a reliable broker. They have been operational for close to 10 years and have also won numerous awards recognizing their achievements. AvaTrade is an authorized and regulated broker that complies with the strictest regulatory organisations in various areas of the world.
Does AvaTrade use MetaTrader?
Yes. The MetaTrader 4 trading platform is supported at AvaTrade. AvaTrade provides its clients with MetaTrader 4 (MT4) platform, Meta Trader platform for Mac, Meta Trader platform for mobile trading, Meta Trader platform for floating spreads and Meta Trader platform for web trading.
What is AvaTrade’s leverage?
AvaTrade’s offers leverage. The leverage is set by a specific instrument and is in line with the client needs and requirements.
AvaTrade has won numerous awards over the years, and certainly proven that they are reliable and well respected in the industry. We were also equally impressed with the number of solutions that they have provided their traders. It doesn’t matter if a trader is a beginner or a seasoned professional; AvaTrade has ensured that all their trading needs are met. Clearly from all the advantages and benefits that AvaTrade has to offer to all their traders, the broker is an ideal choice for anyone looking to trade the exciting financial markets with confidence and safety in mind.
|Regulated by||ASiC, BVI, FSA(JP), FSB, MiFID|
|Number Of Employees||500|
Trading Account Options
AvaTrade Trading Features
|24 Hours Support||Yes|
|Support During Weekends||No|
Customer Support Languages
|Supported Trading Platforms||ActTrader, MT4|
|Guaranteed Limit Orders||Yes|
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